- Proprietary targeted immunotherapy technology personalized to match unmet needs of advanced breast cancer patients
- Ongoing clinical studies of lead candidate, Bria-IMT, continue to show robust biological activity, excellent safety profile
- Breast cancer is one of the most commonly diagnosed cancers, with 2.1 million new cases expected in 2018
- Global cancer immunotherapy market is projected to be valued at nearly $145 billion by 2022
An equity investment of C$500,000 into BriaCell Therapeutics Corp. (OTCQB: BCTXF) (TSX.V: BCT) by the company’s recently-appointed director, Jamieson Bondarenko (http://nnw.fm/jSjK6), underscores the vital importance of BriaCell’s proprietary drug development efforts to millions of cancer patients. BriaCell is an immuno-oncology-focused biotechnology company dedicated to developing the first off-the-shelf, personalized immunotherapy that specifically targets the unmet medical needs of advanced breast cancer patients (http://nnw.fm/Xk3hH).
In a news release outlining the non-brokered private placement financing, the company said that net proceeds from the offering would be primarily used to finance BriaCell’s IIa combination study of Bria-IMT with KEYTRUDA (by Merck & Co., Inc.) in advanced breast cancer patients, in the pursuit of other research opportunities, and for working capital and general corporate purposes (http://nnw.fm/dW4iF). The combination study is listed in ClinicalTrials.gov as NCT03328026.
“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,” 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 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.”
Bondarenko will purchase five million common shares of the company at a price of C$0.10 per common share for gross proceeds of C$500,000 (the “offering”). Upon closing of the offering, which is subject to final approval from the TSX Venture Exchange, Bondarenko will have beneficial ownership of an aggregate of 23,070,500 common shares, representing approximately 13.7 percent of BriaCell’s issued and outstanding common shares.
“I am delighted with the commitment Jamieson has shown to BriaCell,” Dr. William Williams, BriaCell’s president & CEO, stated in the release. “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.”
Bria-IMT activates the immune system to destroy cancer cells in a way that’s believed to be both unique and more effective than other, similar approaches. Bria-IMT has shown promise in FDA-approved clinical trials, suggesting excellent safety and efficacy in patients who matched the Bria-IMT HLA types. BriaCell provided initial safety data on the Bria-IMT/KEYTRUDA combination study and additional confirmatory phase I/IIa data from the Bria-IMT monotherapy study at the 2018 San Antonio Breast Cancer Symposium (http://nnw.fm/JuE5m). BriaCell also recently announced the initiation of clinical use of a novel frozen formulation of Bria-IMT for on-demand shipment to clinical sites to accommodate higher patient volumes at reduced per-dose costs (http://nnw.fm/160Iu).
ResearchAndMarkets reports that the global cancer immunotherapy market is projected to grow rapidly in the coming years, expanding at a CAGR of nearly 13 percent through 2023 (http://nnw.fm/z7Xps). By 2022, the market volume is expected to exceed $145 billion (http://nnw.fm/hp7Ho).
For more information, visit the company’s website at www.BriaCell.com
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