Avantogen is a significant investor in Hawaii Biotech and intends to purchase additional shares in the company based on proceeds received from Avantogen’s recent $1 million capital raising.
"The Board of Avantogen is firmly convinced that Hawaii Biotech's recombinant DNA manufacturing platform is an excellent investment opportunity, and Avantogen actively seeks to increase its stake in this promising vaccine development company," stated Avantogen Chairman Patrick Elliott.
Hawaii Biotech Inc recently announced initiation of a Phase I West Nile Virus vaccine clinical trial, development of partnerships with PDVI/Bill & Melinda Gates Foundation and the Walter Reed Army Institute of Research, and recruitment of Professor Ian Frazer to the Scientific Advisory Board of Hawaii Biotech Inc. Hawaii Biotech anticipates participating in a Walter Reed sponsored Phase I human clinical trial with their Dengue vaccine candidate early next calendar year.
"The Hawaii Biotech Board is pleased to welcome Dr Ardrey as a Director. His experience and knowledge together with financial support from Avantogen will give momentum to our development activities,” said Dr Elliot Parks, CEO of Hawaii Biotech.
