First, they started developing a vaccine against Covid-19, but they changed their objective about one year later. The Slovak company Axon Covidax would like to use its research for antibody therapy, the Denník E economic daily reported.
"It currently makes more sense in strategic and commercial terms, and probably bigger sense than a vaccine, which is too late," said Michal Fresser, company CEO, as quoted by Denník E.
The company is still in the initial stage of developing the new medicament. It has completed the pre-clinical stage, and by the end of this year, the company wants to test antibodies on people in cooperation with a German company, whose name they have not specified.
The company plans to continue developing a vaccine, too.
Collecting moneyRead more
Unlike its competition, which already offers similar treatment that needs to be injected, Axon Covidax wants to enter the market with inhalation treatment, Denník E reported.
The company, owned and financed by entrepreneur Mário Hoffman, wants to collect money from small investors. It has already launched a call for the subscription of shares. If it generates profit, the company is ready to share it with investors. If not, they will lose the investment, Denník E reported.
The aim is to collect €40 million.
The company does not want to comment on how much money it has received to date, Denník E reported.
10. Mar 2021 at 11:41 | Compiled by Spectator staff