BioVaxys announces a private placement without intermediary


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VANCOUVER, BC, June 28, 2021 / PRNewswire / – BioVaxys Technology Corp. (CSE: BIOV, FRA: 5LB, OTCQB: BVAXF) (“BioVaxys” or the “Company”) is pleased to announce a non-intermediary private placement (the “Private Placement”) consisting of up to 9,090,909 units (“Units”) at a price of $ 0.22 per share for a total gross proceeds of approximately $ 2,000,000. Each Unit consists of one Common Share (a “Common Share”) and one entire Common Share Purchase Warrant (a “Warrant”). Each warrant may be exercised for one additional common share at an exercise price of $ 0.50 for a period of 30 months.

All the securities issued within the framework of the Private Placement are subject to a legal holding period of four month and day from the date of issue. The Company may pay intermediation fees on all or part of the Private Placement.

The Company intends to use the net proceeds of the private placement to further its research and development programs and for working capital. Closing of the private placement is subject to customary closing conditions, including approval from the Canadian Securities Exchange, and is expected to close within the next week.

About BioVaxys Technology Corp.

Situated at Vancouver, BioVaxys Technology Corp. is a British Columbia-Registered biotechnology company in the start-up phase that develops platforms for viral and oncological vaccines, as well as immunodiagnostics. The Company is advancing a SARS-CoV-2 vaccine based on its haptenized viral protein technology and is planning a clinical trial of its haptenized autologous cellular vaccine used in combination with anti-PD1 and anti-PDL checkpoint inhibitors. 1 which will initially be developed for ovarian cancer. A diagnostic is also being developed to assess the presence or absence of a T cell immune response to SARS-CoV-2, the virus that causes COVID-19. BioVaxys has issued two US patents and two patent applications related to its cancer vaccine, and pending patent applications for its SARS-CoV-2 (Covid-19) vaccine and diagnostic technologies. BioVaxys common stock is listed on the CSE under the ticker symbol “BIOV” and traded on the Frankfurt Stock Exchange (FRA: 5LB) and in the United States (OTCQB: BVAXF).

ON BEHALF OF THE BOARD

Signed “Jacques Passin

Jacques Passin, CEO
+1 646 452 7054

Media contacts BioVaxys Technology Corp.

Nikita sachdev
Luna PR
[email protected]

Cautions Regarding Forward-Looking Information

This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of Canadian laws and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operational or financial performance of the Company. Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “believes”, “possible”, “possible” and similar expressions or statements. that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. The forward-looking statements contained in this press release relate, among other things, to the completion of the private placement, the use of the proceeds of the private placement 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 in such forward-looking statements.

These forward-looking statements reflect 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 finding suitable buyers for the private placement. and to develop and test vaccines and diagnostic tools, which, while considered reasonable by the Company, are inherently subject to significant commercial, economic, competitive, political and social uncertainties and contingencies, including, primarily but not limited to, to limit the risk that BioVaxys vaccines and diagnostic tools will not prove effective and / or will not receive the required regulatory approvals. With respect to BioVaxys’ business, there are a number of risks that could affect the development of its biotech products, including, but not limited to, the need for additional capital to fund clinical trials, its lack of operating history, uncertainty as to whether its products will complete the long, complex and costly clinical trial and regulatory approval process for the 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 cost effective, the expense, delays, uncertainties and complications generally encountered by biopharmaceutical companies in the development phase, financial and development obligations e n under license agreements in order to protect its rights in its products and technologies, to obtain and protect new intellectual property rights and to avoid third party infringement and their dependence on manufacture by some thirds.

The Company assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, in the event of change, except as required by law.

Jacques Passin, CEO
+1 646 452 7054

Media contacts BioVaxys Technology Corp.

Nikita Sachdev
Luna PR
[email protected]

SOURCE BioVaxys Technology Corp.

Related links

http://www.biovaxys.com/

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