BioVaxys Technology Corp. (CSE:BIOV, OTCQB:BVAXF) told investors that it is in non-binding discussions to acquire an immunotherapeutics intellectual property portfolio.
The company said the portfolio of discovery, preclinical and clinical development stage assets in oncology and other immunological fields was formerly owned by a biotechnology company that it didn’t name and is now held by a secured creditor.
No formal agreement is in place and investors should trade cautiously in its shares while the discussions are under, BioVaxyx said, adding that there is no certainty the parties will reach an agreement on terms or will complete any transaction.
Vancouver-based BioVaxys Technology Corp. (CSE:BIOV, OTCQB:BVAXF)is developing BVX-0918, a personalized immunotherapeutic vaccine using its proprietary HapTenix 'neoantigen' tumor cell construct platform for treating refractive late-stage ovarian cancer, and is also the exclusive US distributor of a portfolio of OTC female reproductive health products currently marketed in the EU from Barcelona-based Procare Health Iberia.
BioVaxys is also exploring vaccines for SARS-CoV-2, SARS-CoV-1, and a pan-sarbecovirus vaccine based on its HapTenix platform through academic and other collaborations.