BriaCell Announces C$500,000 Equity Investment by BriaCell Director
February 26 2019 - 06:30AM
BriaCell Therapeutics Corp. ("BriaCell" or the "Company")
(TSX-V:BCT) (OTCQB:BCTXF), an immuno-oncology focused biotechnology
company with a proprietary targeted immunotherapy technology, is
pleased to announce a non-brokered private placement financing of
5,000,000 common shares of the Company at a price of C$0.10 per
common share for gross proceeds of C$500,000 (the
“Offering”).
Recently-appointed Director of the Company, Mr.
Jamieson Bondarenko (“Bondarenko”), will purchase the 5,000,000
common shares. Upon closing of the Offering, Bondarenko will
have beneficial ownership of an aggregate of 23,070,500 common
shares, representing approximately 13.7% of BriaCell’s issued and
outstanding common shares.
The Company will use the net proceeds from the
Offering: (i) to finance the Company's Phase IIa combination study
of Bria-IMT™ with KEYTRUDA® (by Merck & Co., Inc.) in advanced
breast cancer; (ii) to finance the Company's pursuit of other
research opportunities; and (iii) 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,” remarked Bondarenko. “The importance of
accelerating this work is evidenced in efficacy data
of BriaCell’s Phase I/IIa study of Bria-IMT™ and safety
data of the Bria-IMT™-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.”
Dr. William Williams, BriaCell’s president &
CEO, added, “I am delighted with the commitment Jamieson has shown
to BriaCell. He is a core influential shareholder and now a
Director who believes in our mission and is working to advance our
science as we develop novel and effective ways to combat breast
cancer.”
All securities issued under the Offering have a
hold period expiring four months plus one day following the closing
of the Offering. The Offering is subject to final approval
from the TSX Venture Exchange.
About BriaCell
BriaCell is an immuno-oncology focused
biotechnology company developing targeted and safe approaches for
the management of cancer.
BriaCell is currently conducting a Phase I/IIa
clinical trial of Bria-IMT™, its lead candidate, in a combination
study with pembrolizumab [KEYTRUDA®; manufactured by Merck &
Co., Inc. (NYSE:MRK)]. The combination study is listed in
ClinicalTrials.gov as NCT03328026.
BriaCell is developing Bria-OTS™, an
off-the-shelf personalized immunotherapy, for advanced breast
cancer. Bria-OTS™ immunotherapy treatments are personalized to
match the patient without the need for personalized manufacturing.
Bria-OTS™, which is expected to cover over 90% of the patient
population, is designed to produce a potent and selective immune
response against the cancer of each patient while eliminating the
time, expense and complex manufacturing logistics associated with
other personalized immunotherapies.
For additional information on BriaCell, please
visit website: http://www.BriaCell.com.
Cautionary Note Regarding Forward-Looking
Information
Except for the statements of historical fact,
this news release contains "forward-looking information" within the
meaning of the applicable Canadian securities legislation which
involves known and unknown risks relevant to the Company in
particular and to the biotechnology and pharmaceutical industries
in general, uncertainties and other factors that may cause actual
events to differ materially from current expectation. These risks
are more fully described in the Company's public filings available
at www.sedar.com.
Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company disclaims any
intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact Information
For further information, please
contact:BriaCell Therapeutics Corp.:Farrah
DeanManager, Corporate DevelopmentEmail: Farrah@BriaCell.com Phone:
1-888-485-6340
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