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BiondVax Pharmaceuticals Raises $1.25m Under Yorkville Advisers Standby Equity Facility
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The SEDA facility with the investment fund managed by Yorkville Advisors was first established in June 2010. Under the facility, BiondVax can raise up to $7 million in new capital over three years, at times and in quantities of its choosing, with an option to further increase the facility to $15m.
Funding under the SEDA will be used to finance the Company’s clinical development program, as well as to contribute towards the expansion and upgrading of the production facilities at the Company’s premises in Ness Ziona, Israel.
Dr. Ron Babecoff, BiondVax’s CEO, said that “We are extremely gratified to have exercised our first draw-down using the Yorkville Standby Equity facility. This is an innovative form of financing in the Israeli market, and these funds will be used to bolster our already strong financial position, further securing our continued growth and development.”
Funding under the SEDA will be used to finance the Company’s clinical development program, as well as to contribute towards the expansion and upgrading of the production facilities at the Company’s premises in Ness Ziona, Israel.
Dr. Ron Babecoff, BiondVax’s CEO, said that “We are extremely gratified to have exercised our first draw-down using the Yorkville Standby Equity facility. This is an innovative form of financing in the Israeli market, and these funds will be used to bolster our already strong financial position, further securing our continued growth and development.”
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