Zyon Ayni, CEO and founder of Code Pharma, told Yahoo Finance about the intention to launch an Initial Public Offering (IPO) and the limited fundraising round: “Today is a very exciting day for the Code Pharma team. We are well positioned to play a key role in the current race to develop a cure for COVID-19. Our drug Codivir – which was originally discovered at the Hebrew University in Israel – has a very good safety profile and very impressive antiviral activity, both under laboratory conditions and in our phase I clinical trials”.
“Also, Scientific data regarding Codivir’s mechanism of action strongly suggest that Codivir is effective against mutations of the Covid virus, including the recently discovered Omicron variant. Even before the results of the phase II study, we have received emergency approvals and orders for production. Therefore, we are not only facing exceptionally strong commercial potential, but potentially a breakthrough in the field of antiviral therapy, not only for COVID-19 patients, but also for diseases such as influenza and other RNA viruses”, Ayni added.