BIOV -- FDA approval for COVID-19 clinical trialsBiotech sector is getting hot, especially for companies connected to COVID-19 vaccine and treatments development... BIOV chart looks rip for a breakout with MACD closing in on bullish cross and a major catalyst in the form of FDA approval of its Phase I/II study:
FDA Provides Necessary Guidance For BioVaxys To Begin Preparation Of Ind For Phase I/II Clinical Trials Of CoviDTH
VANCOUVER, British Columbia, July 22, 2021 /PRNewswire/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA:5LB) (OTCQB: BVAXF) ("BioVaxys"), is pleased to announce today that the US Food and Drug Administration ("FDA") has provided its official Written Response to the Company's request for a Pre-IND Type B review of CoviDTH as a diagnostic for evaluating T-cell immune response to SARS-CoV-2.
The FDA found the Chemistry, Manufacturing and Controls, and other elements of the clinical development program proposed by BioVaxys to be acceptable and provided guidance and feedback supportive of BioVaxys' clinical development plans for CoviDTH. In addition, the FDA indicated that animal toxicity studies for CoviDTH were not required and that the Company could start its clinical development program with a combined Phase I/II study. Based on this feedback, BioVaxys will begin preparation of an IND application to support a Phase I/II safety, dosing, and efficacy study.
BioVaxys submitted a Pre-Investigational New Drug ("IND") meeting request and briefing package with the FDA's Center for Biologics Evaluation and Research (CBER) for CoviDTH earlier this year. The Pre-IND review is a critical step in the US regulatory approval process, as it affords an opportunity for study sponsor companies to seek clarification from the FDA on clinical trials design, clinical materials manufacturing, quality controls, etc.
"With the guidance we received from this FDA review, BioVaxys is now able to begin preparing its IND," stated BioVaxys President and Chief Operating Officer Ken Kovan. He adds "Although the FDA has indicated that our planned animal tox study is discretionary, we will likely continue with the animal tox study of CoviDTH as it does not interfere with the development time frame and may in fact provide useful data."
James Passin, BioVaxys CEO, stated, "We are pleased to advance CoviDTH towards clinical trials, as we believe that mass screening for T cell immunity to Covid-19 will represent a critical tool for public health authorities to address the continued pandemic, as Covid variants continue to circulate and major governments in the southern hemisphere enact new lockdown policies."
The Company is not making any express or implied claims that its product has the ability to eliminate, cure, or contain Covid-19 (SARS-CoV-2) at this time.
