BioVaxys Technology Corp. Completes Second Private Placement Tranche

BioVaxys Technology Corp., a biopharmaceutical firm based in Vancouver, British Columbia, announced on May 10, 2024, the successful closure of the second tranche of its non-brokered private placement. This tranche involved the issuance of 4,301,923 units at a price of $0.065 per unit, culminating in gross proceeds totaling $279,625. Each unit comprises one common share and one common share purchase warrant, with each warrant exercisable for one additional share at a price of $0.15 until May 10, 2026. 

The proceeds from this private placement are earmarked for general working capital purposes. This includes funding and advancing the company's strategic plans, particularly following its recent acquisition of a comprehensive portfolio of assets related to oncology, infectious diseases, antigen desensitization, and other immunological fields. These assets are based on the DPX™ immune-educating platform technology initially developed by IMV Inc., Immunovaccine Technologies Inc., and IMV USA.

All securities issued in this tranche are subject to a statutory hold period under Canadian securities laws, expiring on September 11, 2024.

BioVaxys Technology Corp. has clarified that this release does not constitute an offer to sell or a solicitation to buy securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 or any state securities laws, and are not available for sale in the United States without the appropriate registration or an applicable exemption.

BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company focused on developing immunotherapies utilizing the DPX™ immune-educating technology platform and the HapTenix© 'neoantigen' tumor cell construct platform. The company’s clinical pipeline includes maveropepimut-S, in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum-resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine that will soon enter Phase I in Spain for late-stage ovarian cancer. The company is leveraging its expertise in tumor immunology and its unique library of T-lymphocytes and other datasets to identify new targetable tumor antigens through predictive algorithms and other technologies.

BioVaxys common shares are listed on the Canadian Securities Exchange under the stock symbol "BIOV" and trade on the Frankfurt Bourse under the symbol "5LB" as well as in the United States on the OTCQB under the symbol "BVAXF".

Chief Executive Officer James Passin emphasized the significance of this funding round in propelling BioVaxys’s business plans and advancing its development projects. The company continues to focus on innovative solutions to improve patient outcomes through advanced immunotherapies.

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