BriaCell Therapeutics (OTCQB: BCTXF) (TSX.V: BCT), a
biotechnology company developing targeted, safe treatments for cancer, this
morning announced that it has closed the first tranche of a non-brokered
private placement of up to 20,000,000 of its common shares, each at a price of
C$0.10, for gross proceeds of up to approximately C$2,000,000. According to the
update, the first tranche comprised of 7,500,000 common shares, each at a price
of C$0.10, for gross proceeds of C$750,000. The closing of the second and final
tranche of the offering is scheduled to occur in late March 2019. BriaCell
intends to use net proceeds from the offering to finance its Phase IIa
combination study of Bria-IMT(TM) with KEYTRUDA® by Merck & Co. Inc. (NYSE:
MRK) in advanced breast cancer, as well as to pursue other research
opportunities, for working capital and general corporate purposes. In addition,
the company shared that it is finalizing analysis of the initial efficacy data
of the first six patients in the combination study of its lead candidate, Bria-IMT(TM),
with pembrolizumab (KEYTRUDA®) in advanced breast cancer. BriaCell plans
to announce this data via press release on April 3, 2019, concurrent with its
poster presentation at the American Association for Cancer Research (“AACR”)
Annual Meeting in Atlanta, Georgia.
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.
NOTE TO INVESTORS: The latest news and updates
relating to BCTXF are available in the company’s newsroom at www.ibn.fm/BCTXF
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