Mr. James Passin reports

BIOVAXYS ANNOUNCES UPSIZING OF LIFE OFFERING OF UP TO $2M

Biovaxys Technology Corp. has increased its non-brokered private placement financing, previously announced on Oct. 7, 2025. The offering will now consist of a minimum of 10,588,235 units of the company at an issue price of 17 cents per unit to raise gross proceeds of $1.8-million and up to a maximum of 11,764,705 units for gross proceeds of up to $2-million.

Each unit will consist of one common share of the company and one common share purchase warrant, whereby each warrant will entitle the holder thereof to acquire one additional share at an exercise price of 40 cents for a period of 24 months from the date of issuance.

The offering is expected to close on or before Nov. 10, 2025, or such other date as the company may determine, subject to the satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the Canadian Securities Exchange. The company intends to use the proceeds from the offering to drive more organic pipeline growth by: (1) pursuing multiple licensing opportunities and research collaborations with DPX, where the company's platform solutions can address specific needs or gaps, making the company an attractive go-to partner for targeted immunotherapies; (2) identifying remaining GLP supply or production of (non-GMP (good manufacturing practice)) preclinical supply of DPX to be used in conducting research, preclinical supply of DPX+peanut antigen for the peanut allergy vaccine program, and additional proof of concept studies for expanding the DPX formulations in mRNA and neoantigens; (3) initiating DPX food allergy program at McMaster University for conducting a preclinical proof of concept study with a DPX peanut antigen prophylaxis vaccine candidate; (4) filing of new patents and maintaining annuity payments for issued patents; and (5) completing remaining immunological data analysis from MVP-S phase 1 studies to complete data packages and prepare this asset for outlicensing in other tumour types. The company may pay finders' fees to eligible finders who introduce subscribers to the company.

The units will be offered for sale to purchasers pursuant to the listed issuer financing exemption (LIFE) under Part 5A of National Instrument 45-106, Prospectus Exemptions, in each of the provinces of Canada (except Quebec) and other qualifying jurisdictions. The securities issued and sold pursuant to the listed issuer financing exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an amended and restated offering document dated oct. 28, 2025, related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this LIFE offering document before making an investment decision.

About Biovaxys Technology Corp.

Biovaxys, a biopharmaceutical company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX immune-educating technology platform and its HapTenix tumour cell construct platform, for treating cancers, infectious disease, antigen desensitization for food allergy and other immunological diseases. Through a differentiated mechanism of action, the DPX platform delivers instruction to the immune system to generate a specific, robust and persistent immune response. The company's clinical-stage pipeline includes maveropepimut-S (MVP-S), based on the DPX platform, and in phase IIB clinical development for advanced relapsed-refractory diffuse large B-cell lymphoma (DLBCL) and platinum resistant ovarian cancer. MVP-S delivers antigenic peptides from survivin, a well-recognized cancer antigen commonly overexpressed in advanced cancers, and also delivers an innate immune activator and a universal CD4 T-cell helper peptide. MVP-S has been well tolerated and has demonstrated defined clinical benefit in multiple cancer indications, as well as the activation of a targeted and sustained, survivin-specific anti-tumour immune response. Biovaxys is also developing DPX+SurMAGE, a dual-targeted immunotherapy combining antigenic peptides for both the survivin and MAGE-A9 cancer proteins to elicit immune responses to these two distinct cancer antigens simultaneously, DPX-RSV for respiratory syncytial virus, DPX+rPA for peanut allergy prophylaxis, and BVX-0918, a personalized immunotherapeutic vaccine using its proprietary HapTenix neoantigen tumour cell construct platform for refractive late-stage ovarian cancer.

Biovaxys common shares are listed on the Canadian Securities Exchange under the stock symbol BIOV and trade on the Frankfurt Bourse and in the United States on the OTC Markets (OTCQB marketplace).

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