BioVaxys Technology Corp. has executed a non-binding Letter of Intent (LoI) to acquire the core platform technology and entire immunotherapeutics intellectual property portfolio of discovery, preclinical development, and Phase II clinical study stage assets in oncology and other immunological fields, including active licenses with several pharma companies, formerly owned by an unnamed biotechnology company and now held by the unnamed company's former secured creditor.

Under the terms of LoI, BioVaxys has been granted exclusivity while the parties work in good faith on the drafting of a definitive agreement.

Investors are advised to use caution in trading the Company's shares while discussions on the definitive agreement are underway. There is no certainty and there can be no assurance that the parties will reach agreement on the definitive acquisition agreement or will complete any transaction.  We advise shareholders to await further developments.