Red Herring

THE BUSINESS OF TECHNOLOGY

  • Startups
  • Mobile
  • Enterprise
  • Consumer
  • Social
  • Events

Israel’s COVID-19-focused MigVax Wins $12m Funding

April 21, 2020

MigVax, an Israeli medical technology startup, has received $12 million to find a vaccine for the novel COVID-19 virus. The round was led by Jerusalem-based equity crowdfund platform OurCrowd.

MigVax is an affiliate of the MIGAL Galilee Research Institute, in Kiryat Shemona, which previously developed a vaccine for infectious bronchitis virus – a coronavirus strain affecting poultry. David Zigdon, the institute’s CEO, said that “experiments we have carried out so far show that because the vaccine does not include the virus itself, it will be safe to use in immune-suppressed recipients, and has fewer chances of side effects.

“It uses a protein vector that can form and secrete a chimeric soluble protein which carries the viral antigen into tissue and causes the production of antibodies against the virus by the immune system,” added Zigdon. “We are now working to adjust our generic vaccine system to COVID-19. Using a fermentation process, MigVax aims to have the material ready for clinical trials within a few months.”

There are currently over 70 COVID-19 vaccine candidates in development worldwide, according to the World Economic Forum. Five are in preliminary human-testing stages. Yet most experts agree that a safe, effective option will not be found before the end of 2020.

OurCrowd, which already invests in a raft of Israeli medtech platforms, believes it has found a leading candidate to prevent the spread of the virus, which has killed over 170,000 people to date.

“We are humbled by the opportunity to invest in this company, which means so much to so many people,” said OurCrowd CEO Jon Medved. “The race for a COVID-19 vaccine is about saving countless lives, and we are grateful to be able to support this important effort.”

  • 
  • 
  • 
  • 

Filed Under: Asia, Investment Round Up

Related Articles

  • Singapore’s Cialfo Closes $15m Series A Funding Extension
  • Foxconn to Switch Focus to Electric Vehicles 
  • Israel’s YL Ventures Sells Axonius Stake for $270m, Just a Week After Unicorn Valuation

Widget Spacer

Top 100

The Red Herring Top 100 awards highlights the most exciting startups from Asia, Europe and the Americas.

Learn More

Upcoming Events

  • Top 100 Asia

  • Top 100 North America

  • Top 100 Europe

Widget Spacer

Guest Column

What is a Learning Management System?

Rouben David, of CourseForMe.com, outlines the features and benefits of

Widget Spacer

Subscribe

Subscribe now to get event news and updates delivered right to your inbox:

Widget Spacer

#DigitalHerring Tweet

My Tweets
  • About
  • Press & Media
  • Contact Us
Red Herring LinkedInRed Herring Facebook

Copyright © · Red Herring, Inc.

Copyright © 2025 · Red Herring Theme on Genesis Framework · WordPress · Log in