BriaCell Therapeutics (OTCQB: BCTXF) (TSX.V: BCT), a biotechnology company developing targeted, safe treatments for cancer, on Wednesday announced its intention to complete a non-brokered private placement of up to 20,000,000 common shares of the company at a price of C$0.10 each for gross proceeds of up to roughly C$2,000,000. The size of the private placement includes the previously announced C$500,000 equity investment by BriaCell Director and Acting Chairman of the Board, Jamieson Bondarenko. In addition to general corporate purposes, BriaCell plans to use the proceeds from the offering to finance the phase IIa combination study of Bria-IMT(TM) with KEYTRUDA® [by Merck & Co. Inc. (NYSE: MRK)] in advanced breast cancer and to finance the pursuit of other research opportunities. The offering, which is subject to final approval from the TSX Venture Exchange, is anticipated to close on or about March 28, 2019. All securities issued under the offering are subject to a hold period of four months and one day following the date of closing. The securities have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and may not be offered or sold in the United States.
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About BriaCell
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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