NetworkNewsBreaks – BriaCell Therapeutics Corp. (OTCQB: BCTXF) (TSX.V: BCT) Director to Invest C$500,000 in Private Placement Financing
BriaCell Therapeutics (OTCQB: BCTXF) (TSX.V: BCT), a biotechnology company developing targeted, safe treatments for cancer, this morning announced a non-brokered private placement financing of 5,000,000 of its common shares, each at a price of C$0.10, for gross proceeds of C$500,000. According to the update, recently-appointed BriaCell Director Jamieson Bondarenko will purchase the 5,000,000 common shares and, upon closing, will have beneficial ownership of an aggregate of 23,070,500 or 13.7 percent of the company’s issued and outstanding common shares. BriaCell intends to use net proceeds to finance its Phase IIa combination study of Bria-IMT(TM) with KEYTRUDA® (by Merck & Co., Inc.) in advanced breast cancer, to finance pursuit of other research opportunities, and for working capital and general corporate purposes. “In my view, owning a meaningful percentage of BriaCell’s equity while funding clinical work will align the Company’s capital markets strategy with its drug development objectives,” BriaCell Director Jamieson Bondarenko stated in the news release. “The importance of accelerating this work is evidenced in efficacy data of BriaCell’s Phase I/IIa study of Bria-IMT(TM) and safety data of the Bria-IMT(TM)-KEYTRUDA® combination study in advanced breast cancer. There exists a unique opportunity to advance BriaCell’s remarkable achievements on behalf of breast cancer patients, survivors and deceased, and their families.”
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BriaCell Therapeutics (OTCQB: BCTXF) (TSX.V: BCT), a biotechnology company developing targeted, safe treatments for cancer, this morning announced a non-brokered private placement financing of 5,000,000 of its common shares, each at a price of C$0.10, for gross proceeds of C$500,000. According to the update, recently-appointed BriaCell Director Jamieson Bondarenko will purchase the 5,000,000 common shares and, upon closing, will have beneficial ownership of an aggregate of 23,070,500 or 13.7 percent of the company’s issued and outstanding common shares. BriaCell intends to use net proceeds to finance its Phase IIa combination study of Bria-IMT(TM) with KEYTRUDA® (by Merck & Co., Inc.) in advanced breast cancer, to finance pursuit of other research opportunities, and for working capital and general corporate purposes. “In my view, owning a meaningful percentage of BriaCell’s equity while funding clinical work will align the Company’s capital markets strategy with its drug development objectives,” BriaCell Director Jamieson Bondarenko stated in the news release. “The importance of accelerating this work is evidenced in efficacy data of BriaCell’s Phase I/IIa study of Bria-IMT(TM) and safety data of the Bria-IMT(TM)-KEYTRUDA® combination study in advanced breast cancer. There exists a unique opportunity to advance BriaCell’s remarkable achievements on behalf of breast cancer patients, survivors and deceased, and their families.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
