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8-K - FORM 8-K - MABVAX THERAPEUTICS HOLDINGS, INC. | mbvx8k_may222017.htm |
Exhibit
99.1
MabVax
Therapeutics Announces the Closing of its $4.1 Million Public
Offering
SAN DIEGO (May 22, 2017) –MabVax Therapeutics
Holdings, Inc. (Nasdaq: MBVX), a clinical-stage
biotechnology company focused on the development of antibody-based
products to address unmet medical needs in the treatment of cancer,
announced today the closing of its public offering of common stock
and Series G Preferred Stock for a total of $4.1 million. Sold in
the offering was a combination of common stock and Series G
Preferred Stock at $1.75 per share of common stock and Series G
Preferred Stock. The gross proceeds of the public offering were
$4.1 million before the underwriter’s discount and
expenses. Both OPKO Health, Inc. (NYSE: OPK) and Dr.
Phillip Frost, CEO and Chairman of OPKO Health, Inc. participated
in the offering. The Series G
Preferred Stock will not be separately listed on any securities
exchange or other trading market.
Laidlaw
& Company (UK) Ltd. acted as the sole underwriter for this
offering.
A
registration statement relating to these securities was previously
filed on Form S-1 (333-216016) with the Securities and Exchange
Commission (the “SEC”), and was declared effective by
the SEC on May 12, 2017. A final prospectus relating to the
offering may be obtained on the SEC’s website located at
www.sec.gov,
and electronic copies of the final prospectus may also be obtained
from Laidlaw & Company (UK) Ltd., Attention: Syndicate
Department, 546 Fifth Avenue, New York, NY 10036, by telephone at
(212) 953-4900 or by email at syndicate@laidlawltd.com.
This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About MabVax:
MabVax
Therapeutics Holdings, Inc. is a clinical-stage biotechnology
company with a fully human antibody discovery platform focused on
the rapid translation into clinical development of products to
address unmet medical needs in the treatment of cancer. Our lead
antibody is directed at an antigen target expressed on more than
90% of pancreatic cancers and a significant amount of other GI and
lung cancers, making the antibody potentially broadly applicable to
a wide variety of patients suffering from difficult to treat
cancers. With our collaborators including Memorial Sloan Kettering
Cancer Center, Rockefeller University, Sarah Cannon, Honor Health
and Imaging Endpoints, we have treated over 50 patients with either
our therapeutic antibody designated as MVT-5873 or our PET imaging
diagnostic product designated as MVT-2163 in Phase I clinical
studies, and demonstrated early safety, specificity for the target
and an early efficacy signal. Results of these trials should be
published by mid-year 2017. Additionally, our Phase I clinical
study of our radioimmunotherapy product designated as MVT-1075 has
been authorized to proceed by the FDA and will soon commence with
patient enrollment. For additional information, please visit the
Company’s website,
www.mabvax.com.
This
press release on announcing the closing of our public offering
contains “forward-looking statements” regarding matters
that are not historical facts, including statements relating to the
Company’s clinical trials and product development pipeline.
We have no assurance that all the product development pipeline will
be fully developed by the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as
“anticipates,”“plans,”
“expects,” “intends,” “will,”
“potential,” “hope” and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements are based upon current expectations of
the Company and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company’s periodic filings
with the Securities and Exchange Commission, including the factors
described in the section entitled “Risk Factors” in its
annual report on Form 10-K for the fiscal year ended December 31,
2016, as amended and supplemented from time to time and the Company's Quarter Reports on
Form 10-Q and other filings submitted by the Company to the SEC,
copies of which may be obtained from the SEC's website
at www.sec.gov.
The parties do not undertake any obligation to update
forward-looking statements contained in this press
release.
Investor Contact:
Jenene Thomas
Jenene Thomas Communications, LLC
Phone: +1 (908) 938-1475
Email: jtc@jenenethomascommunications.com
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