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biovaxys technology advances biopharma research with successful private placement funding 27

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BioVaxys Technology Advances Biopharma Research with Successful Private Placement Funding

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Leo Gonzalez

May 10, 2024 - 21:49 pm

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BioVaxys Technology Corp Concludes Second Tranche of Non-Brokered Private Placement

VANCOUVER, BC, May 10, 2024 /PRNewswire/ -- In a significant financial move, BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB), a well-regarded biopharmaceutical company, has officially closed the second portion of its non-public funding round, which had been previously declared. The company has successfully issued a substantial number of units as a part of this second tranche, often referred to as the "Second Tranche." This financial achievement has generated an impressive aggregate gross proceeds amount for the company.

Each unit issued comprises a single common share in the company's capital, alongside a purchase warrant for an additional common share. The terms of these purchase warrants are set at a fixed exercise price and they are valid for a window of 24 months from the date they were issued.

BioVaxys Technology Corp. is directing the net proceeds gained from this Private Placement towards its general working capital. These funds are expected to enable the company to continue its business plans, particularly after its notable recent acquisition of a full portfolio encompassing discovery, preclinical, and clinical development stage assets in several immunologically concentrated fields. This acquisition, dated February 16, 2024, includes the assets based on the DPX™ immune educating platform technology, originated by the erstwhile Canadian biotechnology entity, IMV Inc., including Immunovaccine Technologies Inc., and IMV USA.

Securities issued within this Second Tranche are subject to a mandatory hold period under Canadian law, indicating they cannot be traded until after a specific date.

Importantly, this announcement does not pose as an offer for sale, or a solicitation of an offer to buy any securities within the United States. The securities sold have not been and will not be registered under the U.S. Securities Act or any state securities law, and therefore cannot be offered or sold in the United States without appropriate registration or an exemption from such registration.

About BioVaxys Technology Corp.

BioVaxys Technology Corp., headquartered in British Columbia, Canada, stands at the forefront of clinical-stage biopharmaceutical enterprises. The company prides itself on developing pioneering immunotherapies, drawing upon the DPX™ technology platform and its HapTenix© 'neoantigen' tumor cell construct platform. These innovations are aimed at treating a variety of health conditions, including cancers, infectious diseases, and immunity-related concerns.

The clinical pipeline of BioVaxys features treatments such as maveropepimut-S, currently in Phase II clinical development for difficult cases of Diffuse Large B Cell Lymphoma and platinum-resistant ovarian cancer. Another highlight is BVX-0918, a tailored immunotherapeutic vaccine developed through the HapTenix© platform, which is poised to initiate Phase I trials in Spain for the treatment of advanced late-stage ovarian cancer.

BioVaxys leverages its expertise in tumor immunology to collate a vast library of T-lymphocytes and other datasets post-vaccination with its personalized vaccines. This facilitates the use of predictive algorithms and advanced technologies for the discovery of new tumor antigens. BioVaxys’s common shares are publicly traded on the Canadian Securities Exchange under the symbol "BIOV" and are also available on the Frankfurt Bourse (FRA: 5LB) and in the U.S. (OTCQB: BVAXF). For more information on the company, its trailblazing technology, and latest advancements, please visit www.biovaxys.com.

Forward-Looking Information Caution

This press release harbors certain statements that qualify as "forward-looking information" within the terms of relevant securities legislation. These predictive statements can usually be identified by expressions of projections, potential, anticipation, belief, intention, estimation, and other forward-looking terms. Every piece of information, except for historical facts, included herein that relates to the prospective use of proceeds, the Private Placement's advantages, and possible regulatory approvals must be viewed as forward-looking statements.

There exists no absolute certainty that such forward-looking statements will prove to be completely accurate. Future actual results and events could substantially differ from those anticipated by such statements. These forward-looking statements express the current beliefs, opinions, and projections of the day they were made and are based on several suppositions and evaluations deemed reasonable by BioVaxys, albeit inherently subjected to major business, economical, competitive, political, and social uncertainty, and contingencies.

Innumerable known and unknown factors might cause actual results to differ materially from those that are expressed or implied in the forward-looking statements. These factors encompass, but are not limited to, the ability to secure necessary approvals, the company's efficiency in furthering its business plans and the ensuing outcomes, sustained capital availability, and fluctuations in overall economic, market, and business conditions. Readers are cautioned to not place unnecessary reliance on these forward-looking statements which are predicated on beliefs, opinions, aspects, or other factors, should they evolve, save for as necessitated by applicable securities law.

For a visual reference of the company, a corporate logo can be accessed here: https://mma.prnewswire.com/media/1436186/4700207/BIOVAXYS_Corporate_Logo.jpg

The company is led by an experienced board and an engaged management team, with James Passin, the Chief Executive Officer, at the helm. Under his leadership, BioVaxys Technology Corp. continues to communicate with stakeholders and the public with imperative updates and corporate developments.

For further information regarding this press release, contact:
James Passin,
Chief Executive Officer, BioVaxys Technology Corp.
Phone: +1 646 452 7054

SOURCE

BioVaxys Technology Corp.

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