Biovaxys licensee SpayVac talks research results

On October 14, 2025, BioVaxys announced that its licensee, SpayVac-for-Wildlife, Inc., reported positive efficacy data for the SpayVac™ immunocontraceptive vaccine. The vaccine uses BioVaxys' patented liposome-based delivery platform. A study on free-ranging red deer in Germany showed a single dose reduced fertility to 11% compared to 86% in the control group. The licensee has now initiated the regulatory submission process for SpayVac™, targeting feral horses and deer populations. BioVaxys anticipates receiving a "healthy royalty stream" from future vaccine sales.

This news, while positive on a scientific basis, is non-material to BioVaxys' immediate financial health and operational viability. The company is in an extremely precarious financial situation, and this news does little to address the core issues.

A chronological review of recent events provides critical context: * September 29, 2025: BioVaxys announced it had once again amended its Asset Purchase Agreement (APA) for the DPX™ platform. The company has repeatedly failed to meet its capital-raising milestones, which were originally set at USD $10M by the end of 2024. The requirement has been drastically reduced to just USD $1.78M, and the deadline extended to September 2026. This history demonstrates a significant, ongoing struggle to attract capital and execute its primary business strategy. * October 1, 2025: The company filed its interim financial statements as of July 31, 2025. These financials paint a grim picture of near-insolvency: * Cash: A mere $4,080. * Liabilities: Total liabilities of $5.03M overwhelmingly exceed total assets of $1.39M. * Shareholder Deficit: A massive deficit of $3.64M. * Debt to Insiders: A concerning $2.17M is listed as "due to related parties," indicating the company is being propped up by insiders. * October 7, 2025: In a move of desperation, BioVaxys announced a LIFE Offering to raise a minimum of $1.2M and a maximum of $1.6M. The offering is priced at $0.17 per unit (one share and one full warrant at $0.40), a significant discount to the market price at the time and highly dilutive to existing shareholders.

Viewed against this backdrop, the October 14 news about SpayVac appears to be strategically timed to generate positive sentiment to support the critical financing. BioVaxys is merely the licensor of the delivery technology; it is not developing or commercializing SpayVac. The "anticipated royalty stream" is speculative and years away, contingent on a lengthy and uncertain regulatory approval process followed by successful commercialization by a third party. This potential future income does not solve the immediate cash crisis that threatens the company's existence as a going concern. The news is a distraction from the company's core asset, the DPX™ platform, and its dire financial reality.

BioVaxys Technology Corp. is a clinical-stage biotechnology company. Its flagship asset is the DPX™ immune-educating platform technology, acquired from the bankrupt IMV Inc. in early 2024. The DPX™ platform is designed for use in immunotherapies for cancer, infectious diseases, and allergies. The SpayVac™ product mentioned in the recent news is based on a separate, out-licensed liposome-based delivery platform and is not part of the core DPX™ strategy.