BioVaxys and Horizon Technology Finance Corp Execute Amendment to Asset Purchase Agreement ("APA")

Core Points - BioVaxys Technology Corp. has formalized an amendment to the Asset Purchase Agreement (APA) for acquiring assets from IMV Inc., originally dated February 11, 2024 [1] - The performance milestone for BioVaxys has been significantly lowered from USD $10 million to USD $2,028,636, with a new deadline of September 30, 2025 [2] - BioVaxys will issue 2,800,000 share purchase warrants to Horizon and 1,200,000 to Powerscourt Investments, with a purchase price of CAD $0.06 per share, valid until May 31, 2028 [3] - The Licensing Earn-Out Payments Term has been extended to August 11, 2033, allowing BioVaxys to share a percentage of net licensing non-sales revenues with Horizon [4][5] Company Overview - BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company focused on developing immunotherapies using its DPX™ immune-educating technology platform for various diseases, including cancers and allergies [6] - The company's clinical pipeline includes maveropepimut-S (MVP-S), currently in Phase IIB development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma and platinum-resistant Ovarian Cancer [6] - BioVaxys is also developing other immunotherapies and has licensed its patented delivery platform to Zoetis, Inc. and SpayVac-for-Wildlife, Inc. for animal health applications [6]