Frost & Sullivan Awards "2010 European Influenza Vaccines Technology Innovation Award" to BiondVax Pharmaceuticals for Universal Influenza Vaccine

NESS ZIONA, Israel, July 28, 2010 - Frost & Sullivan is pleased to announce the award of its
prestigious 2010 European Influenza Vaccines Technology Innovation Award
(www.biondvax.com/image/users/128084/ftp/my_files/Documents/BiondVax%20-%20Technology%20Innovation.pdf?id=3635857)to
BiondVax Pharmaceuticals ("BiondVax") (www.biondvax.com/) for their
breakthrough work on a universal influenza vaccine. This vaccine, the
Multimeric-001, is designed to provide multi-season and multi-strain
protection against most influenza virus strains, including both seasonal and
pandemic strains, and has the potential to eliminate the need for annual flu
vaccination. BiondVax is entering Phase II clinical trials for the
development of the Multimeric-001 universal influenza vaccine.

In recent years, with the appearance of new, global pandemics,
influenza has emerged as a serious disease, affecting the lives of millions
of people. The influenza virus has frequent mutations in its surface
proteins, resulting in new viral strains that are unfamiliar to the immune
system. As a result, the immune response against the virus is largely
ineffective, requiring immunisation using annual influenza vaccines. However,
because the currently available influenza vaccines are strain-specific, the
vaccines must be reformulated every year, requiring annual immunisations.

BiondVax, based in Israel, is developing a vaccine designed to
overcome these limitations. The company's vaccine is composed of several
conserved epitopes from the influenza virus which are common to most flu
strains and can therefore activate the immune system against any new or
existing influenza viral strains.

The Frost & Sullivan Technology Innovation Award is being awarded
to BiondVax in recognition of the innovative Multimeric-001 vaccine, which is
unique in the following respects. First, it activates both antibody-mediated
(humoral) and cell-mediated immune responses, significantly enhancing the
immunity offered by the vaccine. Second, since the vaccine is composed of
multiple conserved epitopes from both Influenza Type A and Type B strains, it
would offer cross-strain protection against all seasonal and pandemic
influenza viruses and would be resistant to mutations of the influenza virus.
Finally, BiondVax's vaccine is manufactured by fermentation in E. coli, a
robust and efficient process which is estimated to yield commercial-scale
production batches in 6-8 weeks, compared with current egg- and cell-based
technologies which take 4-6 months.

Unlike current influenza vaccines, BiondVax's vaccine would not
need to be administered every year, and would require booster doses only once
in 3-5 years, thus conferring long-term protection.

Pre-clinical studies have confirmed the efficacy of BiondVax's
vaccine. In addition, BiondVax has recently concluded two Phase I/II clinical
trials, in which the vaccine demonstrated both safety and immunogenicity in
both younger and older adults. The company is currently preparing to commence
its first Phase II clinical trial, expected to be completed by mid-2011.

"BiondVax is honoured to receive this prestigious award from
Frost & Sullivan", commented Dr. Ron Babecoff, CEO of BiondVax. "We believe
that our universal influenza vaccine is truly innovative, and has the
potential to dramatically change the way in which we protect ourselves
against the flu, not only from season to season, but also from any
potentially virulent and dangerous pandemic flu strains."

Each year, Frost & Sullivan presents this award to a company that
has developed an innovative element in a product by leveraging cutting-edge
technologies. The award recognizes the value added features and benefits of
the product and the increased return on investment it offers customers, which
in turn increases customer acquisition and overall market penetration
potential.

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About BiondVax Pharmaceuticals Ltd.

BiondVax Pharmaceuticals, a publicly-traded company (TASE: BNDX)
(www.tase.co.il/TASEEng/General/Company/companyMainData.htm?ShareID=01105204&CompanyID=001468&subDataType=0&)
based in Ness Ziona, Israel, is developing a proprietary, innovative
Universal Influenza ("flu") Vaccine, the Multimeric-001, designed to provide
multi-season and multi-strain protection against most human influenza virus
strains, including both seasonal influenza strains and pandemic influenza
strains, such as Swine flu and Avian flu.

BiondVax's technology utilizes a unique, proprietary combination
of conserved epitopes from influenza virus proteins to activate the immune
system for a cross-protecting and long-lasting effect.

BiondVax has recently successfully concluded two Phase I/II
clinical trials for the Multimeric-001 vaccine. The vaccine was shown to be
safe and immunogenic in both trials.

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For further information on BiondVax, please visit
www.biondvax.com

    For further information, please contact:

    Nancy Shapira-Aronovic
    Public Relations Consultant
    Gelbart Kahana Shapira Marketing
    Tel: +972-3-607-0588
    Mob: +972-54-486-3888
    nancy@gksmarketing.com

For further information, please contact: Nancy Shapira-Aronovic, Public Relations Consultant, Gelbart Kahana Shapira Marketing, Tel: +972-3-607-0588, Mob: +972-54-486-3888, nancy at gksmarketing.com