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OurCrowd to Back Israeli Covid-19 Vaccine Company in $12 Million Round

MigVax intends to use the funds to accelerate the development of a Covid-19 vaccine and bring it to the market

Elham Nasser Eddin 11:2722.04.20

Jerusalem-based equity crowdfunding company OurCrowd Ltd. will lead a $12 million investment round for newly formed Covid-19 vaccine company MigVax Ltd., the company announced in a statement on Wednesday.

 

MigVax intends to use the funds to accelerate the development of a coronavirus vaccine and bring it to the market.

 

Jon Medved, OurCrowd CEO. Photo: OurCrowd Jon Medved, OurCrowd CEO. Photo: OurCrowd

 

 

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

 

Labs around the world are racing to find a coronavirus vaccine. According to the Independent, the U.K. plans to begin human trials on a Covid-19 vaccine, developed by The University of Oxford, on Thursday.

 

Israel-based MigVax is an affiliate of Migal Galilee Research Institute Ltd., which specializes in biotechnology, computer sciences, plant science, agriculture, and environmental sciences. The multi-disciplinary research institute has previously developed a vaccine against bronchitis.