BriaCell Announces $4 Million Strategic Investment and Clinical Alliance with Prevail Partners, LLC and Prevail InfoWorks, Inc.
15 Mai 2023 - 2:00PM
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW) (TSX: BCT)
(“BriaCell” or the “Company”), a clinical-stage biotechnology
company specializing in targeted immunotherapies for cancer,
announces that the Company has signed a Master Service and
Technology Agreement (“MSTA”) agreement with Prevail InfoWorks,
Inc. (“InfoWorks”), a Philadelphia, PA based Contract Research
Organization (CRO), to provide clinical services and technologies
for BriaCell’s upcoming pivotal study in advanced metastatic breast
cancer. Services include clinical site coordination, project
management, clinical monitoring and pharmacovigilance (safety
management) services, and the use of InfoWork’s integrated
real-time data analytics platform, The Single Interface®, for
clinical support and real-time data analysis.
Prevail Partners, LLC (“Prevail Partners”), an
investment fund and affiliate of InfoWorks, has agreed to purchase
463,408 BriaCell common shares at a price of $8.63 for gross
proceeds of $4 million, representing a 20% premium to the trailing
thirty (30) trading day volume-weighted average price of the common
shares of the Company on the Nasdaq Stock Exchange. Subject to
exchange approvals and other customary closing conditions, the
subscription is expected to close on or about May 19, 2023.
“We have high confidence in Prevail InfoWorks’
ability to coordinate our pivotal clinical trial in advanced breast
cancer. They have extensive experience and expertise which should
assure rapid accrual and smooth execution of the study.
Additionally, fast, reliable data access is essential to successful
and timely completion of our upcoming pivotal trial, lowers our
clinical risk, and may speed up the FDA approval timeline,” stated
Dr. William V. Williams, BriaCell’s President & CEO. “Prevail
Partners’ strategic investment in BriaCell’s registration study
further highlights the confidence Prevail has in our ability to
execute on enrolment targets and subsequent survival data.”
Prevail Partners acknowledges and agrees that
they are purchasing the Shares pursuant to an exemption from any
prospectus, registration or similar requirements under applicable
U.S. and Canadian securities laws, and that the offer, sale and
delivery of the Shares to Prevail Partners is conditional upon such
offer, sale and deliver being exempt from the requirements under
applicable securities laws requiring the filing of a prospectus in
connection with the distribution of the Shares or upon the issuance
of such rulings, orders, consents or approvals as may be required
to permit such sale without the requirement of filing a prospectus.
The common shares purchased by Prevail Partners are subject to
applicable US and Canadian resale restrictions.
About BriaCell Therapeutics
Corp.
BriaCell is an immuno-oncology-focused
biotechnology company developing targeted and effective approaches
for the management of cancer. More information is available at
https://briacell.com/.
About Prevail Partners, LLC
Prevail Partners, LLC is a corporate strategic
investment fund investing in clinical stage therapeutics companies.
More information is available at https://prevailpartners.com/.
About Prevail InfoWorks,
Inc.
Prevail InfoWorks, Inc. is a global full-service
CRO/FSP and one-stop-shop for clinical trial services and systems.
More information is available at https://prevailinfoworks.com/.
Safe Harbor
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” “will,” “would,” or the negative of
these words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements, including in relation to the implementation of the
Prevail Partners and InfoWorks arrangements and completion of the
corresponding CRO-supported clinical trials, are based on
BriaCell’s current expectations and are subject to inherent
uncertainties, risks, and assumptions that are difficult to
predict. Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
These and other risks and uncertainties are described more fully
under the heading “Risks and Uncertainties” in the Company’s most
recent Management’s Discussion and Analysis, under the heading
“Risk Factors” in the Company’s most recent Annual Information
Form, and under “Risks and Uncertainties” in the Company’s other
filings with the Canadian securities regulatory authorities and the
U.S. Securities and Exchange Commission, all of which are available
under the Company’s profiles on SEDAR at
www.sedar.com and on EDGAR at
www.sec.gov. Forward-looking statements contained
in this announcement are made as of this date, and BriaCell
Therapeutics Corp. undertakes no duty to update such information
except as required under applicable law.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact Information
Company Contact:William V.
Williams, MDPresident &
CEO1-888-485-6340info@briacell.com
Media Relations:Jules
AbrahamDirector of Public RelationsCORE
IR917-885-7378julesa@coreir.com
Investor Relations Contact:CORE
IRinvestors@briacell.com
Prevail Partners, LLC Contact:Mary
SchaheenPresident267-797-2011mary.schaheen@prevailpartners.com
Prevail InfoWorks, Inc.
Contact:Jack
HourietCEO267-797-2001info@prevailinfoworks.com
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