BCTXF - NetworkNewsBreaks - BriaCell Therapeutics Corp. (OTCQB: BCTXF) (TSX.V: BCT) Director to Invest C$500000 in Private Placement Financing
BriaCell Therapeutics (OTCQB: BCTXF) (TSX.V: BCT), a biotechnology company developing targeted, safe treatments for cancer, this morning announced a non-brokered private placement financing of 5,000,000 of its common shares, each at a price of C$0.10, for gross proceeds of C$500,000. According to the update, recently-appointed BriaCell Director Jamieson Bondarenko will purchase the 5,000,000 common shares and, upon closing, will have beneficial ownership of an aggregate of 23,070,500 or 13.7 percent of the company’s issued and outstanding common shares. BriaCell intends to use net proceeds to finance its Phase IIa combination study of Bria-IMT(TM) with KEYTRUDA® (by Merck & Co., Inc.) in advanced breast cancer, to finance pursuit of other research opportunities, and 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,” BriaCell Director Jamieson Bondarenko stated in the news release. “The importance of accelerating this work is evidenced in efficacy data of BriaCell’s Phase I/IIa study of Bria-IMT(TM) and safety data of the Bria-IMT(TM)-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.”
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About BriaCell Therapeutics Corp.
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.] or ipilimumab [Yervoy; manufactured by Bristol-Myers Squibb Company]. 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 percent 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 more information, visit the company’s website at www.BriaCell.com.
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