BriaCell Therapeutics Corp. (NASDAQ: BCTX) and its majority-owned subsidiary BriaPro Therapeutics Corp. completed an asset purchase transaction in which BriaPro acquired BriaCell's exclusive license to develop and commercialize Soluble CD80 as a cancer treatment.

The transaction was based on a definitive purchase agreement dated February 4, 2026. BriaCell originally secured the exclusive license from the University of Maryland, Baltimore County on August 2, 2022. The technology is covered under three U.S. patents and was developed by Suzanne Ostrand-Rosenberg, Ph.D.

Under the agreement, BriaPro gained worldwide rights to develop and commercialize sCD80 as a therapeutic agent for cancer treatment. BriaPro will pay 2% royalties to UMBC upon commercialization plus other development costs. BriaCell made available up to $3 million to fund BriaPro's research and development efforts, with each drawdown subject to BriaCell's approval.

As consideration, BriaPro issued 23,972,589 common shares to BriaCell at an aggregate value of approximately C$1.18 million, increasing BriaCell's ownership in BriaPro to approximately 78% from the previous 66.7%.

The transaction received approval from 99.81% of votes cast by disinterested BriaPro shareholders. BriaCell's shareholdings were excluded from voting due to its interest in the transaction.

Jamieson Bondarenko was appointed as BriaPro's board chairman upon closing. Bondarenko has served as BriaCell's chairman since 2019 and previously held senior investment banking roles at Eight Capital and Dundee Securities.

"Based on the promising data in animal studies, we plan to explore the potential use of sCD80 technology as a therapeutic agent in combination with our other immunotherapies or on its own," stated Dr. Bill Williams, president and CEO of both companies.