BioVaxys Acquires IP, Immunotherapeutic Platform Technology and Clinical Phase Assets of IMV Inc.

BioVaxys Acquires IP, Immunotherapeutic Platform Technology and Clinical Phase Assets of IMV Inc.

BioVaxys Technology Corp. has acquired the entire portfolio of discovery, preclinical and clinical development stage assets in oncology, infectious disease, antigen desensitization and other immunology fields based on the DPX immune education platform technology, developed by the Canadian biotechnology company, IMV Inc . Immunovaccine Technologies Inc., and IMV USA (IMV).

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 loan offer in the proceedings initiated in Canada by IMV under Comp. Creditors Arrangement Act, RSC 1985, c. C-36, as amended (CCAA).

Key elements of the transaction include an upfront payment of $750,000, various clinical development and regulatory milestone payments, a 15% share in license revenues and a 6% gross royalty on product sales (such royalties on future gross sales of cancelable and settle one-time payments of $25,000,000 in cash) and shares of BioVaxys common stock with a notional value of $250,000. HIMV will also have the right to appoint an observer to the Board of Directors of BioVaxys.

The DPX antigen delivery platform acquired by BioVaxys is designed to stimulate a specific, coordinated and sustained anti-tumor response, improving the lives of patients with solid or hematological cancers. DPX can package a wide range of bioactive molecules in a single formulation, such as multiple nucleic acids/mRNAs, proteins, peptides, virus-like particles, innate immune activators, and small molecules, to ” feed” them with dendritic cells and antigen presentation. cells (or “APCs”) to stimulate a specific immune response.

The transaction complements BioVaxys’ existing cancer vaccine portfolio with the addition of maveropepimut-S (MVP-S), a DPX-formulated cancer vaccine that delivers antigenic peptides from survivin, a cancer antigen commonly overexpressed in advanced cancers. MVP-S also delivers an innate immune activator and a universal CD4 T-cell helper peptide. These elements promote maturation of antigen-presenting cells as well as potent activation of CD8 T-cell effector and memory function.

DPX formulations are not limited to cancer immunotherapies. With its unique cargo carrying capacity and non-circulating lipid delivery, there is potential with DPX to develop improved mRNA vaccines, multivalent viral vaccines, desensitizing immune response vaccines for allergies and diseases of the immune system. Previous clinical studies by IMV have supported proof of concept and a superior immune response with a DPX-RSV, DPX-rHA/DPX-FLU influenza vaccine, survivin/MAGE-Ag formulation packaged with DPX for advanced metastatic bladder cancer and some other infections. diseases.

Through the transaction, BioVaxys has acquired 25 different patent families and/or patent applications, with over one hundred international filings related to maveropepimut-S, DPX and its use in a variety of immune-related diseases, related trademarks and others. intellectual property.

The agreement also assigns Biovaxys a proprietary License and Supply Agreement with SpayVac for Wildlife Inc., sales of animal vaccine products using technology acquired from BioVaxys, a new payment and royalty agreement with Pfizer Zoetis Inc. , for their development and sale of various animal health products using technology acquired from BioVaxys and the German pharmaceutical company Merck KGaA for survivin proteins.

Kenneth Kovan, President and Chief Operating Officer of BioVaxys stated: “This is an absolutely transformative 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 , ovarian. Cancer vaccine candidate. The DPX platform and the addition of maveropepimut-S to our pre-existing clinical pipeline immediately positions BioVaxys as a leading player in ovarian cancer and expands our pipeline to include advanced relapsed-refractory lymphoma of diffuse large B-cell (DLBCL). bladder and breast cancer”.

The transaction is expected to close in full within ten days.

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