BioVaxys Technology Corp. has successfully closed the first tranche of its non-brokered private placement, raising over $330,000 in gross proceeds. The company issued over 5 million units at a price of $0.065 per unit, with each unit consisting of a common share and a warrant convertible into an additional share at $0.15 until May 3, 2026.
The funds raised from this private placement will be used for general working capital purposes, as well as to advance the company’s business plans following its recent acquisition of assets in oncology, infectious disease, antigen desensitization, and other immunological fields. This acquisition was based on the DPX™ immune educating platform technology developed by IMV Inc., Immunovaccine Technologies Inc., and IMV USA.
The company also paid finder’s fees and issued finder’s warrants in connection with the private placement. All securities issued are subject to a statutory hold period under Canadian securities laws.
BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies based on its DPX™ immune-educating technology platform. The company’s pipeline includes treatments for advanced cancers and infectious diseases, with plans to enter Phase I trials for late-stage ovarian cancer.
The company anticipates closing the final tranche of the private placement in the coming weeks, pending regulatory approvals. This news release serves as a reminder that the securities offered have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without proper registration or exemption.