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BriaCell Therapeutics Corp., (Nasdaq: BCTX, BCTXW) (TSX-V:BCT), 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/.
The Company recently announced that its board of directors (the “Board”) has authorized the Company’s repurchase program whereby the Company may purchase through the facilities of the TSX Venture Exchange (“TSXV”) or The NASDAQ Capital Market (“NASDAQ”) (i) up to 1,341,515 common shares (the “Common Shares”) and (ii) up to 411,962 publicly traded BCTXW warrants (the “Listed Warrants”) in total, representing 10% of the 13,415,154 Common Shares and 10% of the 4,119,622 Listed Warrants comprising the “public float” as of September 8, 2021, over the next 12 months (the “Buyback”).
In other news, the Company announced the appointment of Mr. Marc Lustig to the Company’s Board of Directors, effective September 1, 2021. Marc, through his investment company L5 Capital Inc., owns 1,530,000 common shares of BriaCell, representing 10.0% of BriaCell’s issued and outstanding common shares.
“It is our pleasure to welcome Marc to our Board of Directors at this transformative phase for BriaCell,” remarked Jamieson Bondarenko, BriaCell’s Chairman of the Board. “Marc’s exemplary expertise in both corporate finance and the pharmaceutical industry will be invaluable to our capital markets and corporate partnership strategies as we advance our novel cancer therapeutics.”
“BriaCell’s novel technology has the potential to change the way we treat cancer,” said Marc Lustig. “As the largest shareholder and now a director, I have been thoroughly impressed by the BriaCell team’s passion and commitment to bring new treatment options to cancer patients who do not respond to current therapies. I look forward to working with the team on their strategic capital and partnering activities to drive significant value for shareholders.”
Finally, BriaCell jointly announced a multi-year, non-exclusive license agreement with ImaginAb Inc (“ImaginAb”), a market leading global biotechnology company focused on developing next-generation immuno oncology imaging agents and radiopharmaceutical therapies.
Under the terms of the agreement, ImaginAb will supply clinical doses of its market leading CD8 ImmunoPET technology (89Zr-Df-Crefmirlimab) to BriaCell for use in a study implemented as part of BriaCell’s ongoing Phase I/IIa study with Incyte in metastatic or locally recurrent breast cancer patients. Specifically, ImaginAb will receive license fees and payments for providing ongoing technical, clinical, and regulatory support to enable the successful implementation of its CD8 ImmunoPET technology. No other terms are disclosed.
The CD8 ImmunoPET technology allows whole body visualization of increased CD8 T cells, especially those infiltrating and attacking tumors. BriaCell will use the technology to provide a readout of both safety and efficacy of its novel cancer immunotherapy.