Horizon Technology Finance Partners with BioVaxys for Immunotherapy Asset Acquisition and Growth

Horizon Technology Finance and BioVaxys Forge Strategic Partnership in Immunotherapy Asset Acquisition

Horizon Technology Finance Corporation is solidifying its role in the biopharmaceutical sector through a strategic partnership with BioVaxys Technology Corp. The companies have recently amended their Asset Purchase Agreement (APA) concerning the acquisition of assets from IMV Inc., particularly those linked to the DPX™ immune educating platform technology. This partnership not only demonstrates Horizon's commitment to advancing innovative healthcare solutions but also highlights the growing significance of immunotherapy in treating various diseases. The amended agreement reflects a flexible approach to capital raising, extending the deadline for BioVaxys to secure USD $10 million from December 31, 2024, to June 30, 2025, allowing for a more strategic financial maneuvering.

In a noteworthy adjustment, the performance milestone required of BioVaxys has been reduced to USD $2,028,636, with a new deadline of September 30, 2025. This change alleviates some immediate financial pressure on BioVaxys, enabling the company to focus on its core mission of enhancing patient outcomes through advanced immunotherapies. To support this adjustment, BioVaxys will issue 2,800,000 share purchase warrants to Horizon, alongside an additional 1,200,000 warrants to Powerscourt Investments XXV LP, both set at a price of CAD $0.06 per share, valid until May 31, 2028. This collaborative financial structure underscores the importance of partnerships in driving innovation and growth within the biopharmaceutical industry.

Another significant aspect of the amended APA is the extension of the Licensing Earn-Out Payments Term, which will now last until August 11, 2033. This extension allows BioVaxys to share a portion of its net licensing non-sales revenues with Horizon during this period, fostering a long-term collaborative relationship between the two entities. By aligning their interests, Horizon and BioVaxys can capitalize on the potential of the DPX™ platform technology, positioning themselves to make substantial contributions to the immunotherapy landscape.

In addition to the financial adjustments, this partnership enables BioVaxys to strengthen its position in the biopharmaceutical market, emphasizing its commitment to developing groundbreaking immunotherapies. By strategically acquiring the DPX™ technology, BioVaxys is poised to advance its research and development initiatives, ultimately aiming to improve patient care and treatment options in the oncology field.

The amendment to the APA reflects a broader trend in the biopharmaceutical industry, where collaboration and strategic partnerships are essential for navigating the complexities of drug development and commercialization. Horizon Technology Finance's involvement demonstrates its proactive approach in supporting innovative companies like BioVaxys, ensuring that advancements in immunotherapy continue to progress.