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3. Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

On April 29, 2019, Mymetics announced that the National Institutes of Health (NIH) has awarded Mymetics and Texas Biomedical Research Institute (Texas Biomed) a five-year grant for the project called “Cold Chain-independent, Needle-free Mucosal Virosomal Vaccine to Prevent HIV-1 Acquisition at Mucosal Levels”.

 

The project starts on May 1, 2019 and is planned for five years. The overall budget related to the project is USD 8.67 million, with USD 1.9 million approved for the first year. The overall portion of the grant allocated to the Company is USD 6.76 million, with USD 1.2 million approved for the first year. It is co-led by Dr. Ruprecht of the Texas Biomedical Research Institute and Dr. Fleury, Mymetics CSO, and includes sub-awards to Dr. François Villinger of the University of Louisiana at Lafayette, and Dr. Sarah Ratcliffe of the University of Virginia. First results are expected to be reported in 2020.

 

The project has the objective to prepare Mymetics’ promising HIV-1 vaccine candidate for clinical trials. The vaccine is created to induce protective mucosal antibodies acting as a frontline defense against sexual HIV transmission. This newly awarded grant from the NIH can continue some of the developments that were achieved during the European Horizon 2020 project.