Therapy Areas: Oncology
BioVaxys Technology announces non-brokered private placement
25 March 2024 -

BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF), a biopharmaceutical company registered in British Columbia, Canada, announced on Friday that it planning to complete a non-brokered private placement that includes up to 15,384,615 units.

The units are priced at USD0.065 per unit for total gross proceeds of up to CAD1,000,000, before deducting any offering-related expenses. Each Unit comprises one common share and one whole Common Share purchase warrant. Each warrant can be exercised for one additional Common Share at an exercise price of USD0.15 for a time-span of 24 months.

Completion of the private placement is subject to finalising all contractual documentation and receipt of all applicable regulatory approvals and the policies of the Canadian Securities Exchange (CSE).

BioVaxys intends to use the net proceeds of the Private Placement for general working capital purposes, including, enabling the company to fund and advance its business plans in regard to its successful recent acquisition of the entire portfolio of discovery, preclinical and clinical development stage assets in oncology, infectious disease, antigen desensitisation, and other immunological fields based on the DPX immune educating platform technology, developed by the former Canadian biotechnology company, IMV Inc., Immunovaccine Technologies Inc., and IMV USA (IMV) on 16 February 2024.

The company may pay a finder's fee related to the financing.