VANCOUVER, BC – March 3, 2025 – BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) has been granted a management cease trade order (MCTO) by the British Columbia Securities Commission (BCSC).
The order, issued under National Policy 12-203 – Management Cease Trade Orders, stems from an anticipated delay in filing the company’s audited annual financial statements for the fiscal year ending October 31, 2024. According to the company’s previous announcement on February 13, 2025, the delay also impacts the related management’s discussion and analysis, as well as CEO and CFO certifications.
Under National Instrument 51-102 – Continuous Disclosure Obligations, these required filings were due by February 28, 2025. BioVaxys attributes the delay to factors including the February 16, 2024 acquisition of intellectual property, technology, and clinical-stage assets from the former IMV Inc. The acquisition, which included 120 patents, is taking longer than expected for the auditor to review and value.
BioVaxys anticipates its auditor, Dale Matheson Carr-Hilton LaBonte LLP, will complete the audit by March 30, 2025, with filings to follow as soon as possible. While the MCTO is in effect, the public can continue to trade BioVaxys shares freely. However, the order restricts the company’s Chief Executive Officer and Chief Financial Officer from trading the company’s securities until the filings are made.
Additionally, the company is prohibited from issuing or acquiring securities from its insiders or employees until the required filings are complete and all continuous disclosure requirements are met, and the MCTO is revoked. BioVaxys will provide bi-weekly default status reports as news releases, as per the alternative information guidelines set out in National Policy 12-203, until the filing requirements are satisfied. The company also confirms that there are no insolvency proceedings against it and that no other material information has been withheld from public disclosure.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com) is a biopharmaceutical company, registered in British Columbia, Canada, focused on developing novel immunotherapies. The company utilizes the DPX™ immune-educating technology platform and its HapTenix© ‘neoantigen’ tumor cell construct platform to treat cancers, infectious diseases, and other immunological conditions.
BioVaxys’s clinical-stage pipeline includes maveropepimut-S, currently in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum-resistant ovarian cancer. BVX-0918, a personalized immunotherapeutic vaccine using the proprietary HapTenix© platform, is slated to enter Phase I trials in Spain for late-stage ovarian cancer.
The company is also leveraging its tumor immunology expertise to analyze a unique library of T-lymphocytes & other datasets to create personalized immunotherapeutic vaccines and to identify new targetable tumor antigens. BioVaxys common shares are listed on the Canadian Securities Exchange under the symbol “BIOV,” the Frankfurt Bourse (FRA: 5LB), and trade in the U.S. on the OTC Markets (OTCQB marketplace).
For further information, visit www.biovaxys.com and connect on X and LinkedIn.
Signed
James Passin, Chief Executive Officer Phone: +1 740 358 0555
Forward-Looking Statements
This news release contains forward-looking statements. Actual results may differ materially from these forward-looking statements due to the complexity of BioVaxys’ activities, and is based on a number of assumptions which are subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are otherwise expressed or implied by such forward-looking statements.
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this press release. The Exchange does not accept responsibility for the adequacy or accuracy of this release.
