Business

BioVaxys Technology Corp. Concludes Initial Phase of Funding, Eyeing Future Growth

VANCOUVER, BC, May 3, 2024 – BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB), a trailblazer in the biopharmaceutical industry, has officially completed the first installment of its new financing endeavor. The innovative firm, known simply as the "Company," embraces this financial achievement, which forms part of its announced private placement strategy without a broker, characterized by the issuance of 5,126,574 units, known as "Units." This offering was priced at a remarkable $0.065 for each Unit, thereby amassing total gross proceeds that impressively reach the sum of $333,227.31.

Every individual Unit is uniquely composed of one common share of the Company's capital, terming it a "Share," and one complete common share purchase warrant, which is termed a "Warrant." In a remarkable move, every Warrant is vested with the transformational power to convert into one extra Share at the exercise price of $0.15 up until May 3, 2026. This crucial date marks the 24-month anniversary of the issuance of these financial instruments.

In line with the conclusion of the initial tranche of its non-brokered private placement, labeled the "First Tranche," the Company has also engaged in the disbursement of cumulative finder's fees involving cash transactions totaling $6,500. Moreover, there has been a pronounced issuance of 60,000 finder's warrants, cleverly referred to as "Finder's Warrants." Each Finder's Warrant inherits the potential for conversion into an additional Share, also at the fixed exercise price of $0.15, with the same expiration as previously mentioned, two years from the issue date.

The Company has outlined its intentions to employ the net proceeds from the First Tranche to bolster its general working capital reserves. This prudent financial stewardship aims not only to strengthen the Company's financial base but more importantly, to invigorate its ambitious business plans. Particularly, it enables funding and advancement of its business strategy surrounding the recent and successful acquisition conducted on February 16, 2024. This acquisition has significantly enhanced the Company's portfolio, pioneering discovery, preclinical, and clinical development assets across multiple fields such as oncology, infectious disease, antigen desensitization, and other immunological domains. These arenas are grounded on the DPX™ immune-educating platform technology, an inventive creation originally conceptualized by IMV Inc., Immunovaccine Technologies Inc., and its American counterpart, IMV USA.

Statutory Securities Regulations Compliance Achieved

In alignment with mandated Canadian securities laws, any and all securities issued as part of the First Tranche inherently adhere to a statutory hold period. This period will reach its expiration on September 4, 2024, marking the passage of four months and a day subsequent to the closing date of the First Tranche.

The next compelling chapter in the Company’s financing saga will be the closure of the secondary and concluding phase, aptly termed the “Final Tranche,” of the Private Placement. This concluding phase is anticipated to be secured within the forthcoming two weeks. The consummation of the Final Tranche rests upon the attainment of all requisite regulatory authorizations, which notably includes the Canadian Securities Exchange's sanctioning.

Regulatory Clarity and Offer Exclusions

This communiqué is explicitly not to be construed as an invitation to buy or an offer to sell any securities within the jurisdiction of the United States. It is important to note that the securities discussed have neither been registered under the United States Securities Act of 1933, as amended, known as the "U.S. Securities Act," nor any corresponding state securities laws. Therefore, these securities may not be offered or sold on U.S. soil to U.S. persons unless such offering or sale is registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration befits the situation.

BioVaxys Technology Corp. – A Synopsis of Innovation and Clinical Progress

The British Columbia-based biopharmaceutical company, BioVaxys Technology Corp.—which can be reached at its online abode, www.biovaxys.com, is lauded for its pursuit of enhancing patient lives through ground-breaking immunotherapies. Schooled in the art and science of the DPX™ immune-educating technology platform in conjunction with its proprietary HapTenix© 'neoantigen' tumor cell construct platform, BioVaxys stands at the vanguard of therapeutic innovations against maladies such as cancer, infectious diseases, antigen desensitization, and a spectrum of other immunological challenges.

The clinical development pipeline is particularly robust, with maveropepimut-S, a front-runner in Phase II trials for combating advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum-resistant ovarian cancer. In aspiring to further clinical accomplishments, BVX-0918, a personalized immunotherapeutic vaccine developed from the esteemed HapTenix© 'neoantigen' technology, is on the brink of commencing Phase I trials in Spain, targeting refractory late-stage ovarian cancer with hopes of profound clinical outcomes.

Further capitalizing on its profound expertise in tumor immunology, BioVaxys aspires to leverage its unique T-lymphocyte libraries and extensive datasets collected post-vaccination with personalized immunotherapeutic vaccines. Such endeavors aim at spearheading the use of predictive algorithms and cutting-edge technologies to identify novel and actionable tumor antigens, thus refining targeted therapeutic development.

Capital Markets Footprint and Contact Information

Driving home the Company’s stability in financial markets, BioVaxys proudly has its common shares listed on the CSE under the stock symbol "BIOV." The Company’s financial influence extends to the Frankfurt Bourse (FRA: 5LB) and permeates the United States market, trading on the OTCQB under the ticker symbol BVAXF. For a more intimate understanding of the Company’s core activities and to forge digital connections, interested parties are invited to peruse www.biovaxys.com and engage via various social platforms, including X and LinkedIn.

From the Executive Office

BioVaxys Technology Corp. places a high value on transparency and leadership, reflected through the words of James Passin, the Company’s Chief Executive Officer, who staunchedly signs off in endorsement of the discussed financial proceedings. The commendable guidance and vision encapsulated by Mr. Passin are further emphasized by his direct communication line at +1 646 452 7054, fostering an open channel for inquiries and communication.

Important Notice Regarding Forward-Looking Statements

This announcement bears forward-looking information and forward-looking statements as prescribed by applicable securities legislation. This forward-looking lexicon includes phrases such as "expects," "anticipates," "believes," "intends," and other expressions that suggest future outcomes or events. Such forward-looking statements encapsulate notable disclosures concerning the deployment of proceeds, anticipated advantages ensuing from the private placement, and the expectations surrounding regulatory approvals.

It is imperative to recognize that despite forward-looking statements embodying current expectations and projections, they are not guarantees of future performance. Predictions are ripe with variables and risks that may lead to substantially disparate actual results. The forward-looking statements are built on assumptions and estimates, which, though plausible, are fraught with complexities and instabilities stemming from business, economic, competitive, political, and social factors, among other contingenaces.

As a company, BioVaxys solemnly realizes the weight of these factors, which encompass the need for requisite approvals, the competence to push forward business strategies effectively, consistent capital access, and general shifts in macroeconomic conditions. These factors are constantly evaluated against new information, impacting the forward-looking statements accordingly.

The Company’s outlook is prudently forward-facing, underscored by a commitment not to rest on established recognitions but to continually adapt to evolutions within applicable securities laws.

Logos and Corporate Identity

For those interested in the visual representation of BioVaxys Technology Corp., the corporate logo can be accessed via the following link: BioVaxys Corporate Logo.

The identity that this logo represents is intertwined with the narrative of innovation, determination, and clinical progression that the Company personifies.

Final Acknowledgment

BioVaxys Technology Corp. stands graciously as the source of this promising news release, forecasting a future coursed with careful strategic moves in the wider landscape of biopharmaceutical advancement.

In conclusion, as BioVaxys Technology Corp. ventures into the next phases of its development journey, the successful closing of the First Tranche signals a company striding confidently towards an impactful future in immunotherapy and precision medicine, fortified by the commendable leadership of its CEO, Mr. James Passin, and the prudent use of capital raised through its strategic private placement. As regulatory compliance ensures the fidelity of this path, investors and patients alike watch with anticipation as the Company's clinical pipeline promises potential groundbreaking treatments for some of the most challenging medical conditions of our time.