02.02.2024 – 19:19
BioVaxys Technology Corp.
Vancouver, Bc (ots/PRNewswire)
BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (“BioVaxys” or the “Company”) announces that it has completed the first tranche of an unlisted private placement (the “Private Placement”) consisting of 36,783,334 ( “Units”) at a price of $0.03 per Unit, for aggregate gross proceeds of $1,103,500. Each Unit consists of one common share (a “Common Share”) and one whole common share purchase warrant (a “Warrant”). Each warrant is exercisable for one additional common share at an exercise price of $0.05 for a period of 48 months.
All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company intends to use the net proceeds from the Private Placement for working capital purposes. The private placement is subject to approval by the Canadian Securities Exchange.
The Company will pay a cash finder’s fee of $57,400 in connection with the financing.
The Company expects the second and final tranche of the private placement to close no later than February 9, 2024.
Information about BioVaxys Technology Corp.
The biopharmaceutical company BioVaxys Technology Corp. (www.biovaxys. com), based in Vancouver, Canada, is developing BVX-0918, a personalized immunotherapeutic vaccine based on the company’s proprietary HapTenix© “Neoantigen” tumor cell construct platform for the treatment of late-stage refractory ovarian cancer and other tumor types. The company leverages its expertise in tumor immunology and the creation of a unique library of T lymphocytes and other datasets following vaccination with its personalized immunotherapeutic vaccines to employ predictive algorithms and other technologies to identify new targeted tumor antigens. BioVaxys is also working on vaccines based on its HapTenix© platform for various emerging viral infections. BioVaxys’ common shares are listed on the CSE under the ticker symbol “BIOV” and trade on the Frankfurt Stock Exchange (FRA: 5LB) and in the US (OTCQB: BVAXF).
ON BEHALF OF THE BOARD
Signed “James Passin” James Passin, CEO
+1 646 452 7054
Cautionary Note Regarding Forward-Looking Statements This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All Statements contained herein, other than statements of historical fact, without limitation, that relate to the Company’s future operating or financial performance, are forward-looking statements. Forward-looking statements are often, but not always, accompanied by words such as “expects,” “anticipated.” “,” “believes,” “intends,” “estimates,” “potential,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or occur “should”. Forward-looking statements in this press release relate, among other things, to the proposed debt settlement and the overall development of BioVaxys’ vaccines and diagnostic technologies. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements reflect the beliefs, opinions and projections as of the date the statements are made and are based on a number of assumptions and estimates, primarily the assumption that BioVaxys will be successful in developing and testing vaccines and diagnostic tools which, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies, including, but not limited to, the risk that the vaccines and diagnostic devices may change BioVaxys does not prove effective and/or does not receive the necessary regulatory approvals. There are a number of risks related to BioVaxys’ business that could affect the development of its biotechnology products. These include, but are not limited to, the need for additional capital to fund clinical trials, the company’s lack of operational experience, uncertainty as to whether its products will withstand the long, complex and expensive process of clinical trials and regulatory approval of new drugs required for market approval, the uncertainty as to whether its autologous cell vaccine immunotherapy can be developed to produce safe and effective products and, if so, whether its vaccine products will be commercially accepted and profitable, the expenses, delays, uncertainties and complications typically faced by biopharmaceutical companies in the development phase, financial and development obligations under licensing agreements to protect their rights to their products and technologies, obtaining and protecting new intellectual property rights and preventing infringement by third parties, as well their dependence on production by third parties.
The Company undertakes no obligation to update the forward-looking statements regarding beliefs, opinions, forecasts or other factors should they change, except as required by law.
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