CA - BriaCell announces $4M strategic investment and clinical alliance with Prevail Partners and Prevail InfoWorks

2023-05-15 09:19:47 ET

• BriaCell ( NASDAQ: BCTX ) announced that Prevail Partners had agreed to purchase 463K of its common shares at $8.63 per share, resulting in $4M in gross proceeds, and revealed that Prevail InfoWorks had also been chosen as the CRO for their upcoming pivotal study, set to begin in 2023.
• BriaCell Therapeutics signed a master service and technology agreement with Prevail InfoWorks, a Contract Research Organization (CRO) based in Philadelphia.
• The partnership aims to facilitate clinical services and provide cutting-edge technologies for BriaCell's upcoming pivotal study focusing on advanced metastatic breast cancer.
• ( BCTX ) is up 4.3% premarket.
• The comprehensive range of services offered under the agreement includes clinical site coordination, project management, clinical monitoring, and pharmacovigilance (safety management) services.
• Additionally, BriaCell will benefit from Prevail InfoWorks' data analytics platform, known as The Single Interface. This platform will provide invaluable clinical support and enable real-time data analysis throughout the study.
• Prevail Partners, an investment fund and affiliate of InfoWorks, had also agreed to purchase 463,408 BriaCell common shares at $8.63 per share, resulting in $4M in gross proceeds. The transaction represents a 20% premium to the trailing thirty-day volume-weighted average price on the Nasdaq Stock Exchange. The subscription is expected to close around May 19.

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