The overarching cancer immunotherapy market continues growing at unprecedented rates, and companies like BioVaxys Technology Corp. (CSE:BIOV)are ready to capitalize on this growing market.
In the coming years, it is anticipated that the global cancer immunotherapy market will reach a valuation of US$217.9 billion by 2030, up from $122.3 billion in 2023 and representing a compound annual growth rate of 8.6 per cent during the forecast period.
Against the backdrop is BioVaxys Technology Corp., which is a clinical-stage biopharmaceutical company focused on improving patient lives with novel immunotherapies based on their DPX™ immune-educating technology platform and its HapTenix© neoantigen tumor cell construct platform. Through this, the Company aims to treat immune system diseases such as cancers, infectious diseases, antigen desensitization (such as peanut allergies) and other immuno dysfunctions
In February 2024, the Company notched a significant milestone in its path to becoming a leader in immunotherapeutics through the acquisition of the assets of (the former) Canadian biotech company IMV., Inc.
BioVaxys Technology acquires assets of former IMV Inc.
In a statement, the company said that it has completed the acquisition of the entire portfolio of discovery, preclinical and clinical development stage assets in oncology, infectious disease, antigen desensitization, and other immunological fields based on the DPX™ immune educating platform technology, developed by former Canadian biotechnology company, IMV Inc. BioVaxys acquired the extensive technology portfolio from HIMV, LLC, an acquisition vehicle formed by Horizon Technology Finance Corporation and IMV’s other secured creditors for the purpose of acquiring IMV’s intellectual property through a secured party credit bid in the proceedings commenced in Canada by IMV under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).
The DPX™ platform notably is intended to stimulate a specific, coordinated and persistent aunti-tumor response in order to improve the lives of patients with solid or hematological cancers.
“This is an absolutely transformational transaction for Biovaxys that is synergistic with our pre-existing personalized immunotherapeutic vaccines based on our HapTenix© ‘neoantigen’ tumor cell construct platform, and BVX-0918, our ovarian cancer vaccine candidate,” Kenneth Kovan, president and chief operating officer of BioVaxys Technology, said in a statement. “The DPX™ platform and addition of maveropepimut-S to our pre-existing clinical pipeline immediately positions BioVaxys as a major player in ovarian cancer and expands our pipeline to include advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL), bladder and breast cancer.”
Key transaction elements include a US$750,000 up-front cash payment, various clinical development and regulatory milestone payments, a 15 per cent share in license revenues, and a 6 per cent gross sales royalty on product sales (such future gross sales royalties cancellable and extinguishable upon a one-time payment of US$25 million in cash) and shares of BioVaxys common stock with a deemed value of US$250,000, calculated at a price per share equal to the volume-weighted average price of the common shares during the 20-trading-day period immediately prior to closing and will be subject to a hold period of four months and one day. HIMV will also be entitled to appoint an observer to BioVaxys’s Board of Directors.
The addition of the former IMV Inc.’s technology assets to BioVaxys will strengthen the Company’s existing cancer vaccine portfolio thanks to the maveropepimut-S (MVP-S), a DPX™-formulated cancer vaccine that delivers antigenic peptides of survivins, a family of cancer antigens commonly overexpressed in advanced cancers.
The DPX Platform at a glance
While maveropepimut-S is formulated with DPX™ to target ovarian cancer and other tumor types, DPX™ also has the potential to improve mRNA vaccines, develop multivalent viral vaccines, vaccines for desensitizing immune response for allergies and other immune system diseases.
For example, previous studies of DPX™ have indicated and supported proof-of-concept and a superior immune response with a DPX™-RSV formulation, DPX™rHA/DPX-FLU influenza vaccine.
Thanks to the acquisition of the platform, BioVaxys Technology Corp. now has access to 25 distinct families of patents or patent applications with more than 100 related international filings related to DPX™ and its use across different immune system-related diseases, trademarks and intellectual property.
BioVaxys Technology Corp. in the news
In late 2023, BioVaxys terminated the U.S. Distribution Agreement for Papilocare and Immunocaps in order to focus on immunotherapeutics.
Despite the termination of the agreement, the company’s partnership with Procare for the E.U. clinical development of BioVaxys’ ovarian cancer vaccine BVX-0918 will continue and remains unchanged.
“The termination of the agreement strengthens the balance sheet of BioVaxys and allows the management team to advance certain initiatives related to immunotherapy. We appreciate the continued partnership with Procare on the E.U. clinical development of our ovarian cancer vaccine,” Kovan said in a statement.
The investment corner
The need for cancer immunotherapies is only going to continue growing and BioVaxys Technology Corp. has positioned itself to be a significant leader in the space in the coming years.
Case in point, BioVaxys Technology Corp. will focus on leveraging the capabilities of its bi-haptenized vaccines and the DPX™ platform with a goal of delivering precise, durable immune responses.
In other words, investors won’t want to miss out on this captivating cancer immunotherapy company.
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