February 1, 2024

VANCOUVER, BC, Feb. 1, 2024 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) ("BioVaxys"or the "Company") announces that it has completed the first tranche of a non-brokered private placement (the "PrivatePlacement") consisting of 36,783,334 ("Units") at a price of $0.03 per Unit for total gross proceeds of $1,103,500. Each Unitconsists of one common share (a "Common Share") and one whole Common Share purchase warrant (a "Warrant"). EachWarrant is exercisable for one additional Common Share at an exercise price of $0.05 for a period of 48 months.All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from thedate of issuance. The Company intends to use the net proceeds of the Private Placement for working capital purposes. Theprivate placement is subject to the approval of the Canadian Securities Exchange.The Company will pay a finder's fee of $57,400 in cash related to the financing.The Company anticipates closing the second and final tranche of the private placement no later than February 9th, 2024.About BioVaxys Technology Corp.BioVaxys Technology Corp. (, a biopharmaceuticals company based in Vancouver, Canada, is developingBVX-0918, a personalized immunotherapeutic vaccine using our proprietary HapTenix© 'neoantigen' tumor cell construct platformfor treating refractive late-stage ovarian cancer and other tumor types. The Company is capitalizing on its tumor immunologyknow-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalizedimmunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens.BioVaxys is also pursuing vaccines based on its HapTenix© platform for various emerging viral infections. BioVaxys commonshares are listed on the CSE under the stock symbol "BIOV" and trade on the Frankfurt Bourse (FRA: 5LB) and in the US(OTCQB: BVAXF).ON BEHALF OF THE BOARDSigned "James Passin"James Passin, CEO+1 646 452 7054Cautionary Statements Regarding Forward Looking InformationThis press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forwardlooking statements") within the meaning of applicable Canadian and United States securities legislation including the UnitedStates Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein,without limitation, statements relating the future operating or financial performance of the Company, are forward lookingstatements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates","believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, orresults "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to,among other things, the proposed debt settlement and the overall development of BioVaxys' vaccines and diagnostictechnologies. There can be no assurance that such statementswill prove to be accurate, and actual results and futureevents could differ materially from those expressed or implied in such forward-looking statements.These forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and arebased upon a number of assumptions and estimates, primarily the assumption that BioVaxys will be successful in developingand testing vaccines and diagnostic tools, that, while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and social uncertainties and contingencies including, primarily but withoutlimitation, the risk that BioVaxys' vaccines and diagnostic tools will not prove to be effective and/ or will not receive the requiredregulatory approvals. With regards to BioVaxys' business, there are a number of risks that could affect the development of itsbiotechnology products, including, without limitation, the need for additional capital to fund clinical trials, its lack of operatinghistory, uncertainty about whether its products will complete the long, complex and expensive clinical trial and regulatoryapproval process for approval of new drugs necessary for marketing approval, uncertainty about whether its autologous cellvaccine immunotherapy can be developed to produce safe and effective products and, if so, whether its vaccine products willbe commercially accepted and profitable, the expenses, delays and uncertainties and complications typically encountered bydevelopment stage biopharmaceutical businesses, financial and development obligations under license arrangements in orderto protect its rights to its products and technologies, obtaining and protecting new intellectual property rights and avoidinginfringement to third parties and their dependence on manufacturing by third parties.The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, orother factors, should they change, except as required by law.

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