bioMmune Technologies Inc. Grants Stock Options
VANCOUVER, BRITISH COLUMBIA, October 5, 2016 -- bioMmune Technologies Inc. (TSX.V: IMU) (the “Company”) is pleased to announce that pursuant to the Company’s Incentive
Stock Option Plan (the “Plan”), it has granted incentive stock options to directors and officers of the Company to purchase an aggregate of 392,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.72 per share (being the closing price of the Company’s stock on Tuesday, October 4, 2016) for a period of five years from the date of grant.
The options are subject to vesting as to 205,000 options 3 months after the date of grant and 98,000 each quarter thereafter until fully vested (12 months following the date of grant).
ABOUT BIOMMUNE TECHNOLOGIES INC.
bioMmune Technologies Inc. is a biopharmaceutical company that is advancing technologies focused on cancer, infectious and autoimmune diseases. Three significant technologies are:
Utilizing proprietary screening systems for identifying novel compounds that are able to restore immune recognition and killing of cancer cells.
Exploiting the regulation of calcium channel activity which is very important for controlling cells involved in the immune system. By regulating these calcium channels, immune activity can be controlled in ways to improve their ability to combat cancers, infections and autoimmune diseases.
Modulating CD74, a protein involved in the immune system and its ability to fight foreign antigens. Finding molecules that regulate CD74 activity will aid the immune system to combat infections and cancers and to control autoimmune diseases.
Forward Looking Statements
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may we may not be successful in either preclinical or clinical trials and not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward- looking statements and information, which are qualified in their entirety by this cautionary statement. All forward- looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.
On Behalf of the Board of Directors
Dr. Patrick W. Gray, President, CEO 1 (206) 650-6765
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release”