BioVaxys Executes Letter of Intent for Major Immunotherapeutics Technology Acquisition

December 22, 2023

VANCOUVER, BC, Dec. 22, 2023 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) ("BioVaxys" or "Company")announced today that it has executed a non-binding Letter of Intent ("LOI") to acquire the core platform technology and entire immunotherapeuticsintellectual property portfolio of discovery, preclinical development, and Phase II clinical study stage assets in oncology and other immunologicalfields, including active licenses with several pharma companies, formerly owned by an unnamed biotechnology company and now held by theunnamed company's former secured creditor. Under the terms of LOI, BioVaxys has been granted exclusivity while the parties work in good faith onthe drafting of a definitive agreement.Investors are advised to use caution in trading the Company's shares while discussions on the definitive agreement are underway. There is nocertainty and there can be no assurance that the parties will reach agreement on the definitive acquisition agreement or will complete anytransaction. We advise shareholders to await further developments.About BioVaxys Technology Corp.BioVaxys Technology Corp. (, a biopharmaceuticals company based in Vancouver, Canada, is developing BVX-0918, apersonalized immunotherapeutic vaccine using our proprietary HapTenix© 'neoantigen' tumor cell construct platform for treating refractive late-stageovarian cancer and other tumor types. The Company is capitalizing on its tumor immunology know-how and creation of a unique library of Tlymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and othertechnologies to identify new targetable tumor antigens. BioVaxys is also pursuing vaccines based on its HapTenix© platform for various emergingviral infections. BioVaxys common shares are listed on the CSE under the stock symbol "BIOV" and trade on the Frankfurt Bourse (FRA: 5LB) andin 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 "forward-looking statements") withinthe meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financialperformance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words suchas "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions,or results "will", "may", "could", or "should" occur or be achieved.. There can be no assurance that such statements will prove to be accurate, andactual results and future events 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 are based upon a numberof assumptions and estimates, primarily the assumption that BioVaxys will be successful in developing and testing vaccines, that, while consideredreasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties andcontingencies including, primarily but without limitation, the risk that BioVaxys' vaccines will not prove to be effective and/ or will not receive therequired regulatory 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 operating history, uncertaintyabout whether its products will complete the long, complex and expensive clinical trial and regulatory approval process for approval of new drugsnecessary for marketing approval, uncertainty about whether its autologous cell vaccine immunotherapy can be developed to produce safe andeffective products and, if so, whether its vaccine products will be commercially accepted and profitable, the expenses, delays and uncertainties andcomplications typically encountered by development stage biopharmaceutical businesses, financial and development obligations under licensearrangements in order to 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, or other factors, shouldthey change, except as required by law.

Share this post