Scienza e Tecnologia
BioVaxys Closes First Tranche Of Non-brokered Private Placement
VANCOUVER, British Columbia , July 14, 2021 /PRNewswire/ -- BioVaxys Technology Corp. ( "BioVaxys" or the "Company") is pleased to announce that it has closed the first tranche ("Tranche 1") of its previously announced non-brokered private placement (the "Private Placement"). Pursuant to Tranche 1 of the Private Placement, the Company has issued 3,812,159 units ("Units") at a price of $0.22 per Unit for gross proceeds of $838,675 . Each Unit consists of one common share (a "Common Share") and one whole Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable for one additional Common Share at an exercise price of $0.50 for a period of 30 months.
The aggregate Private Placement consists of the sale of up to 9,090,909 Units for total gross proceeds of up to approximately $2,000,000 . Closing of the second tranche of the Private Placement is anticipated to complete within the next week.
All securities issued pursuant to Tranche 1 of the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company paid finders fees of $15,180 in connection with the closing of Tranche 1. The Company intends to use the net proceeds of the Private Placement to advance its research and development programs and for working capital.
Based in Vancouver , BioVaxys Technology Corp . is a British Columbia -registered, early stage biotechnology company that is developing viral and oncology vaccine platforms, as well as immuno-diagnostics. 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 cell vaccine used in combination with anti-PD1 and anti-PDL-1 checkpoint inhibitors that will initially be developed for ovarian cancer. Also in development is a diagnostic for evaluating the presence or absence of a T cell immune response to SARS-CoV-2, the virus that causes COVID-19. BioVaxys has two issued 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 shares are listed on the CSE under the stock symbol "BIOV" and trades on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF).
ON BEHALF OF THE BOARD
James Passin , CEO
+1 646 452 7054
Nikita Sachdev
Luna PR
info@lunapr.io