BioVaxys Expands Private Placement to Enhance Funding Strategy

BioVaxys Technology Corp. Increases Private Placement Offering

BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) is excited to inform investors and stakeholders about the significant upsizing of its non-brokered private placement offering. This increase is aimed at raising more funds for the company's ambitious plans in immunotherapy development. The price set for each unit in this offering is $0.05, providing both common shares and warrants as part of the deal.

Details of the Upsized Private Placement

The recent announcement reflects a substantial increase from the original cap of 10 million units, initially raising expectations for gross proceeds of $500,000. Following a previous revision, the cap was lifted to 20 million units with anticipated gross proceeds of $1 million. The current upsizing allows for a total of up to 30 million units, potentially boosting the gross proceeds to $1.5 million.

Utilizing Proceeds for Growth and Innovation

The funds raised through this private placement will be strategically applied to enhance BioVaxys’ operational capabilities. Specifically, the net proceeds are earmarked for general working capital purposes which will support ongoing business initiatives and the development of new therapies in oncology and infectious diseases.

Recent Advances in Immunology

BioVaxys is focused on advancing its recent acquisition of a comprehensive portfolio of developmental assets. These assets encompass groundbreaking technologies based on the DPX™ immune-educating platform. This innovative platform originated from former biotechnology leader IMV Inc., allowing BioVaxys to substantially bolster its presence in the market for immunity-related treatments. This acquisition reflects the company’s commitment to enhancing patient outcomes through novel immunotherapies, particularly in cancer and other serious diseases.

Debt Settlement for Improved Financial Flexibility

In addition to the private placement success, BioVaxys has announced a debt settlement agreement with a consultant. The company intends to resolve a total debt of $76,625 by issuing 1,532,500 common shares at a deemed price of $0.05. This strategic move underscores the company’s focus on maintaining cash reserves while managing financial obligations efficiently.

Commitment to Compliance and Transparency

BioVaxys is dedicated to adhering to the highest standards of regulatory compliance. Both the private placement and the debt settlement will take place under the guidance of necessary regulatory approvals. The securities issued in these processes will be subject to a statutory hold period of four months, in line with applicable regulations.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. is a forward-thinking clinical-stage biopharmaceutical company headquartered in British Columbia, Canada. The firm aims to develop cutting-edge therapies utilizing its innovative DPX™ immune-educating technology platform and its proprietary HapTenix© 'neoantigen' tumor cell construct. These advancements are crucial in addressing cancers, infectious diseases, and other immunological disorders, embodying the company’s mission to better patient lives through science.

Future Outlook

As BioVaxys builds on its advancements, the company remains focused on navigating the complexities of the biotechnology landscape, seeking to deliver robust clinical outcomes. The common shares of BioVaxys are actively traded on several exchanges with the stock symbol "BIOV" and are quoted in the OTC Markets under the ticker "BVAXF." The organization encourages stakeholders and interested parties to stay connected and informed as it embarks on this crucial stage of growth.

Frequently Asked Questions

What is the purpose of the private placement by BioVaxys?

The private placement aims to raise funds for general working capital and to support ongoing immunotherapy research and development projects.

How much capital is BioVaxys looking to raise?

BioVaxys has increased its private placement offering to up to $1.5 million through the issuance of 30 million units.

What assets has BioVaxys recently acquired?

BioVaxys recently acquired a portfolio of discovery, preclinical, and clinical development stage assets in various immunological fields.

Who is the CEO of BioVaxys?

James Passin is the Chief Executive Officer of BioVaxys Technology Corp.

Where can I find more information about BioVaxys?

For additional information about BioVaxys and its innovative therapies, visit their official website.

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