Mr. James Passin reports

BIOVAXYS PRESENTS FURTHER VALIDATION OF THE ROBUST IMMUNE RESPONSE FROM A COMBINATION OF MVP-S WITH CHECKPOINT INHIBITORS AND LOW-DOSE CYCLOPHOSPHAMIDE IN OVARIAN CANCER

A study has been published that further validates the immune response mechanism from a combination of Biovaxys Technology Corp.'s maveropepimut-S immunotherapeutic vaccine combined with a checkpoint inhibitor and low-dose intermittent cyclophosphamide in ovarian cancer. Led by Dr. Kimberly Brewer of the IWK Health Center and associate professor, faculty of medicine, Dalhousie University, the study is entitled "MRI of Combination Immunotherapy in an Epithelial Ovarian Cancer Preclinical Model" and is published in the April, 2026, edition of Nature/NPJ Imaging.

Co-written with Biovaxys scientific adviser Dr. Marianne Stanford of Dalhousie University, the study utilized magnetic resonance imaging to track tumour growth and immune cells in a murine model of ovarian cancer using a clinically relevant treatment combination of Biovaxys's MVP-S plus anti-PD-1 plus low-dose cyclophosphamide. The combination significantly lowered tumour volume and increased myeloid and CD8 plus T-cells in the tumours, and offers further demonstration that chemotherapies such as checkpoint inhibitors (that is, anti-PD-1) and MVP-S have strong potential for treatment of epithelial ovarian cancer, the most lethal gynecological malignancy.

In the study, mice were implanted with mouse ovarian surface epithelial cancer cells. Myeloid and CD8+ cells were isolated from matched donor mice, labelled with superparamagnetic iron oxide and scanned using MRI. Tumour volumes in the treatment group as measured by MRI were significantly lower than in the control group, and the density of SPIO-labelled myeloid and CD8 plus T-cells in tumours was higher in the treatment group than in the control group, with the study providing new insight into how MRI can be used in concert with biological assays to study how immunotherapy and chemotherapy combinations exert their anti-tumour effects.

MVP-S is Biovaxys's investigational immunotherapeutic vaccine that uses its lipid-based DPX delivery platform to stimulate T-cell immune response to survivin epitopes restricted by 5 HLA Class I haplotypes. MVP-S is in clinical development for ovarian, bladder and breast cancer, and for relapsed/refractory diffuse large B-cell lymphoma.

The vaccine combination is similar to the PESCO trial, an investigator-initiated, open-label, non-randomized phase 1B/2 trial to evaluate the safety and efficacy of combination of Biovaxys's MVP-S with pembrolizumab (Keytruda) and cyclophosphamide in patients with recurrent epithelial ovarian cancer that is being presented in early June at the 2026 American Society of Clinical Oncology annual meeting.

About maveropepimut-S

Survivin, a tumour-associated antigen, is highly expressed in ovarian and other cancers but nearly undetectable in normal tissues, making it a promising target for ovarian cancer immunotherapy. Designed to target and eliminate survivin-expressing tumour cells, Biovaxys's maveropepimut-S is a DPX-based vaccine immunotherapy that induces a cytotoxic T-cell response. DPX is a non-aqueous, non-systemic, lipid-in-oil immune-educating antigen delivering platform that is the foundation of Biovaxys's oncology and infectious disease product pipeline. MVP-S is a DPX-based formulation of five peptides derived from survivin, a T helper peptide, and an innate immune stimulant, which delivers instruction to the immune system to generate a specific, robust and persistent immune response. MVP-S has been shown to be well tolerated, and has demonstrated activation of a targeted and sustained, survivin-specific anti-tumour immune response in multiple cancer indications, such as in Biovaxys's recent phase 1 study of MVP-S with neoadjuvant hormone therapy in HR (plus)/HER2 (minus) Stage 2/3 breast cancer.

About the Biovaxys DPX platform

The Biovaxys DPX platform is a major innovation in vaccine development that offers a solution to limitations faced by vaccines using other antigen delivery methods. The DPX platform presents antigens to the immune system using a novel non-systemic mechanism of action that does not release active ingredients at the site of the injection but rather forces an active uptake of immune cells and delivery into the lymphatic nodes. The programming of immune cells happens in vivo and offers a more efficient approach that mimics the natural function of the immune system. This no release mechanism allows for an active uptake of antigens into immune cells and lymph nodes for a sustained activation of the immune system in which the T-cell flow is sustained over a longer duration than traditional vaccines on the market.

About ovarian cancer

Epithelial ovarian cancer, characterized by a pattern of relapse and progression through successive recurrences, has overall poor survival due to late detection, high heterogenicity and development of resistance, highlighting the urgent need for novel treatment strategies. New advances, such as immune checkpoint inhibitor monotherapy, have demonstrated limited efficacy in treating ovarian cancer. Recent studies with checkpoint inhibitors, such as anti PD-1, with immunotherapeutic cancer vaccines, demonstrate the potential to expand antigen-specific T-cells and inhibit regulatory T-cells (Tregs), thereby enhancing the overall tumour immune response. Additional studies have shown a synergistic effect between checkpoint inhibitors and cancer vaccines, thus positioning these combinations for further exploration, with the optimization of these combinations reliant on selection of the ideal cancer vaccine antigens. Ovarian cancer is one of the deadliest malignancies in women and remains the leading cause of death from gynecological cancers worldwide. Epithelial ovarian cancer is the most common type, accounting for 90 per cent of all ovarian cancer cases, with high-grade serous ovarian cancer being the most aggressive and recurrent subtype. The standard treatment typically involves tumour-reducing surgery and cytotoxic chemotherapy; however, many patients are unable to tolerate the side effects of these treatments or experience recurrence due to significant drug resistance, which limits the overall clinical benefits. The global epithelial ovarian cancer market is projected to reach over $7.0-billion (U.S.) by 2033, reflecting robust growth fuelled by innovation and expanding treatment options.

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, 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 oncology pipeline includes maveropepimut-S (MVP-S), based on the DPX platform, in phase 2 clinical development for advanced relapsed-refractory diffuse large B-cell lymphoma and platinum-resistant ovarian cancer, and in phase 1 with neoadjuvant hormone therapy in HR (plus)/HER2 (minus) stage 2/3 breast cancer. Biovaxys is also developing DPX plus 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 plus rPA for peanut allergy prophylaxis and an DPX-mRNA formulation for rabies. Biovaxys common shares are listed on the Canadian Securities Exchange under the stock symbol BIOV, trade on the Frankfurt Bourse and in the United States on the OTC Markets.

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