Promising policy action brings hope amidst continued economic challenges: PwC's 2025 M&A mid-year update released
Transformative policy actions could boost Canada's role in North American supply chains and stabilize ties with the US.
Trend shows decline in inbound and locally sourced deals; overall deals activity comes in at approximately 1000 deals totalling $134B announced since January 2025.
Canadian family offices rebound: deal values increased by 16% from 2023 to 2024, signaling renewed momentum.
TORONTO, June 18, 2025 /CNW/ - PwC Canada's 2025 mid-year Canadian M&A update highlights a pivotal moment for the Canadian economy. Amidst global uncertainty and a cooling domestic outlook, Canada is pursuing a bold policy agenda aimed at restoring national economic resilience. While these efforts are rooted in domestic priorities, they may also yield a valuable secondary benefit: a more stable and strategically aligned relationship with the United States.
"Canada's current policy direction focuses on building a stronger, more self-reliant economy," said Michael Dobner, National Leader of Economics and Policy Practice, PwC Canada. "This approach also helps foster a more constructive and complementary relationship with the US, one based on shared interests rather than dependency."
Economic update: Between January and May 2025, Canadian companies announced 996 deals totaling $134 billion. However, the report notes declines in inbound and locally sourced deals in Canada. This reflects a broader climate of caution, as businesses delay investments and expansion plans in response to persistent uncertainty. PwC's baseline projection for Canadian GDP growth in 2025 remains below 1%.
Despite these headwinds, Canada's trade position with the United States remains comparatively strong. Canadian exporters are generally benefiting from relatively low tariffs, especially when compared to countries like China, which continue to face significant trade barriers to the United States. This advantage can help some Canadian businesses to maintain or even grow their market share in the US, offering a rare bright spot in an otherwise subdued economic landscape. In this context, "the current negotiations between Canada and the United States, which benefit from Canada's new vision, may further strengthen Canada's relative trade position with the United States," added Dobner.
The report outlines a suite of policy priorities shaping Canada's new vision. Key priorities now include streamlining regulations, initiating large-scale infrastructure projects, increasing investment in defence and Arctic development, removing interprovincial trade barriers, fast-tracking the integration of artificial intelligence and changing the immigration system to focus on attracting highly skilled individuals to Canada. These initiatives are designed to address Canada's productivity and competitiveness challenges, and, if successful, will also position the country to play a more active role in North American supply chains and innovation ecosystems.
If early policy actions are interpreted by market players as genuine, practical and decisive, PwC Canada suggests that meaningful improvements in Canada's economic outlook could begin as early as 2026. All levels of government have a crucial role in providing these signals over the coming months.
While there is good reason for cautious optimism, the report notes that the global environment remains unpredictable. Potential global crises, financial crisis as a result of a loss of trust in the US dollar, or disruption of entire sectors by emerging technology could have significant consequences. Canadian businesses must stay vigilant, closely monitor global developments and adopt flexible, risk-aware strategies to navigate an uncertain future.
Opportunities for Canadian family offices: The report also highlights the evolving role of Canadian family offices, which are emerging as increasingly influential players in the investment landscape. After a period of decline beginning in 2021, family office deal activity is rebounding. In Canada, deal values rose by more than 16% from 2023 to 2024.
Key trends shaping this evolution:
Club deals, where family offices co-invest with peers to access larger opportunities and share risk, are gaining traction globally. While only 23% of Canadian family office investments in 2024 were structured this way, compared to 71% globally in 2022, this gap signals untapped potential.
Impact investing is on the rise. In 2024, Canadian family offices surpassed the 50% threshold for allocating capital to investments that generate measurable social or environmental impact alongside financial returns. These investments are increasingly aligned with national priorities such as productivity, innovation, and affordable housing.
Direct investments, where family offices invest directly in businesses such as private equity, startups or M&A, have grown to represent 70% of global activity, up from a real estate-heavy focus a decade ago. In contrast, 69% of Canadian family office investments in 2024 remained in real estate, indicating potential opportunities to diversify investment portfolios.
For more insights and to access the full report, visit https://www.pwc.com/ca/en/services/deals/trends.html.
About PwC Canada:
At PwC Canada, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 7,000 partners and staff in offices across the country. Across audit and assurance, tax and legal, deals and consulting, we help build, accelerate and sustain momentum.
PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. Find out more by visiting us at: http://www.pwc.com/ca
© 2025 PricewaterhouseCoopers LLP, an Ontario limited liability partnership. All rights reserved.
SOURCE PwC Management Services LP
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/18/c2121.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
BIOVAXYS ANNOUNCES AMENDED LIFE OFFERING
// NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES // VANCOUVER, BC, June 20, 2025 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) ("BioVaxys" or the "Company") announces that it has amended the terms of its brokered private placement LIFE financing (the "Offering") previously announced on May 30, 2025, and filed an amended offering document (the "Amended Offering Document"). The Amended Offering Document updates the exercise price of the common share purchase warrant that forms part of the units ("Units") being offered by the Company from a post-consolidation exercise price of $0.60 to a post-consolidation exercise price of $0.50. As previously announced, the Company intends to consolidate the common shares of the Company (the "Common Shares") on the basis of ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"), and complete a concurrent Offering consisting of a minimum of 5,714,285 Units at a post-Consolidation price of $0.35 per Unit for minimum gross proceeds of $2,000,000 and a maximum of 8,571,428 Units at a post-Consolidation price of $0.35 per Unit for maximum gross proceeds of up to $3,000,000. Each Unit will consist of one (1) post-Consolidation common share in the capital of the Company (each, a "Post-Consolidation Common Share") and one (1) Post-Consolidation Common Share purchase warrant (each, a "Post-Consolidation Warrant"). Each Post-Consolidation Warrant will entitle the holder thereof to purchase one Post-Consolidation Common Share at a post-Consolidation price of $0.50 for a period of 36 months from the closing date of the Offering. Closing of the Offering is anticipated to occur on or about June 30, 2025, or such other date as the Company may agree upon provided such date is on or before July 14, 2025. Closing of the Offering is subject to the satisfaction of certain conditions, including, but not limited to, acceptance by the CSE. The Company intends to use the net proceeds raised from the Offering for research and development, general corporate purposes and working capital. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Units issuable under the Offering will be offered for sale to purchasers in all provinces and territories of Canada, except Quebec, pursuant to the listed issuer financing exemption ("LIFE") under Part 5A of NI 45-106. The securities to be issued pursuant to the sale of the Units under the Offering will not be subject to resale restrictions in accordance with applicable Canadian securities laws. There is an Amended Offering Document dated June 18, 2025, related to the Offering that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read this offering document before making an investment decision. This news release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. About BioVaxys Technology Corp. BioVaxys Technology Corp. ( a biopharmaceuticals 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 it's HapTenix© tumor 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-tumor 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' tumor cell construct platform for refractive late-stage ovarian cancer. BioVaxys common shares are listed on the CSE under the stock symbol "BIOV" and trade on the Frankfurt Bourse (FRA: 5LB) and in the U.S. on the OTC Markets (OTCQB marketplace). For more information, visit and connect with us on X and LinkedIn. ON BEHALF OF THE BOARDSigned "James Passin" James Passin, Chief Executive OfficerPhone: +1 740 358 0555 Cautionary Statements on Forward Looking Information This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the proposed Consolidation, including the ratio thereof and timing thereof, and the Offering, including the size and use of proceeds, and the timing and ability of the Company to close the Offering, including obtaining approval of the Offering from the CSE. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates, primarily the assumption that BioVaxys will be successful in developing and testing vaccines, that, while considered reasonable by BioVaxys, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies including, primarily but without limitation, the risk that BioVaxys' vaccines will not prove to be effective and/ or will not receive the required regulatory approvals. With regards to BioVaxys' business, there are a number of risks that could affect the development of its biotechnology products, including, without limitation, the need for additional capital to fund clinical trials, its lack of operating history, uncertainty about whether its products will complete the long, complex and expensive clinical trial and regulatory approval process for approval of new drugs necessary for marketing approval, uncertainty about whether its autologous cell vaccine immunotherapy can be developed to produce safe and effective products and, if so, whether its vaccine products will be commercially accepted and profitable, the expenses, delays and uncertainties and complications typically encountered by development stage biopharmaceutical businesses, financial and development obligations under license arrangements in order to protect its rights to its products and technologies, obtaining and protecting new intellectual property rights and avoiding infringement to third parties and their dependence on manufacturing by third parties. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to complete the Consolidation and the Offering on the terms proposed or at all, and the ability to obtain necessary approvals, including the approval of the CSE. BioVaxys does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws. The CSE has not reviewed, approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this news release. Logo: View original content: SOURCE BioVaxys Technology Corp. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Microsoft and OpenAI Forged a Close Bond. Why It's Now Too Big to Last.
The partnership that made so much sense from 2019 to 2023 has now made each company too dependent on the other. Why a divorce looks inevitable.
Yahoo
13 minutes ago
- Yahoo
NurExone Advances U.S. Growth Strategy with Acceptance into Prestigious ARMI HealthTech Hub Accelerator and Provides Corporate Update
TORONTO and HAIFA, Israel, June 20, 2025 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX) (OTCQB: NRXBF) (FSE: J90) ('NurExone' or the 'Company'), a biotech company developing exosome-based therapies for central nervous system injuries, announced today that it has been accepted into the HealthTech Hub ('HTH') Accelerator Program. Based in Boston, Massachusetts, home to more than 1,000 biotech companies1, HTH is operated by the Advanced Regenerative Manufacturing Institute ('ARMI') and its BioFabUSA initiative. NurExone's acceptance into the prestigious HTH Accelerator Program will support the Company's expansion into the U.S. market following the establishment of Exo-top Inc. ('Exo-TOP'), the Company's wholly owned U.S. subsidiary dedicated to GMP-compliant exosome manufacturing for clinical development and commercial scale-up. HTH, co-led by ARMI and Mass General Brigham, is a competitive accelerator program supported by the U.S. Department of Health and Human Services and Israel's Ministry of Health. The HTH Accelerator Program selects a limited number of innovative companies each year to help them validate U.S. clinical relevance, strengthen commercialization strategies, and build meaningful collaborations with key stakeholders across the U.S. HealthTech landscape. The program is funded by HTH at no cost to participants. Dr. Lior Shaltiel, CEO of NurExone, commented: 'The HTH Acceleration Program offers the kind of U.S.-based insight and guidance needed at this stage of our growth. As we establish Exo-TOP to manufacture clinical-grade exosomes in the U.S., the HTH will help us sharpen our regulatory and scale-up strategies and pursue meaningful commercial collaboration opportunities. This is a timely and strategic opportunity to accelerate our commercialization pathway in the world's largest healthcare market 2.' NurExone's participation in the HTH Accelerator Program is expected to enhance its visibility within the U.S. regenerative medicine ecosystem and to support its mission to bring novel exosome-based therapeutics to patients with unmet needs. Omnibus Plan Approval The Company is pleased to announce that, further to its press release dated June 4, 2025, at the Company's annual general and special meeting held on June 18, 2025 (the 'Meeting'), disinterested shareholders ratified and approved the amended and restated omnibus incentive plan (the 'Omnibus Plan'), a copy of which is available under the Company's SEDAR+ profile at The Omnibus Plan is a hybrid plan that provides flexibility to grant-equity incentive awards in the form of stock options ('Options'), restricted shares ('Restricted Shares') and restricted share units ('RSUs'). The Omnibus Plan is a hybrid 10% rolling and 10% fixed share-based compensation plan that amends and restates the Company's previous equity incentive plan approved by shareholders on June 4, 2024 (the 'Previous Plan'). The Previous Plan was a 20% fixed share-based compensation plan whereby the maximum number of common shares in the capital of the Company ('Common Shares') reserved for issuance was set at 13,166,085, representing 20% of the issued and outstanding Common Shares as of the effective date. The Omnibus Plan now includes (i) a 10% 'rolling' Option component that shall not exceed 10% of the Company's total issued and outstanding Common Shares from time to time; and (ii) a 10% fixed component permitting up to 7,800,781 RSUs and Restricted Shares in the aggregate. Additionally, the Omnibus Plan was amended to increase the number of securities issuable to insiders of the Company. The Previous Plan provided, that unless approved by disinterested shareholders, (i) the maximum number of securities issuable to insiders collectively would not exceed 10% of the Company's securities at any time and (ii) the maximum number of securities issuable to insiders collectively in any twelve-month period would not exceed 10% of the Company's total issued and outstanding securities as at the date any award was granted to an insider. Now, the Omnibus Plan provides the following that (i) the maximum number of the Company's securities issuable to insiders collectively shall not exceed 20% of the Company's total issued and outstanding Common Shares at any point in time and (ii) the maximum number of the Company's securities issuable to insiders collectively, in any 12-month period, when combined with all of the Company's other share compensation arrangements, shall not exceed 20% of the Company's total issued and outstanding securities, calculated as at the date any award is granted or issued to any insider. RSU Grants In addition, the Company announced that it has granted an aggregate of 1,125,000 RSUs to certain officers and directors of the Company pursuant to the terms and conditions of the Omnibus Plan. Each RSU vests on the one-year anniversary of the grant date and may be settled, upon their vesting, into one Common Share. The RSUs and underlying Common Shares are subject to the Exchange Hold Period (as such term is defined under the policies of the TSX Venture Exchange ('TSXV')). About NurExone NurExone Biologic Inc. is a TSXV, OTCQB, and Frankfurt-listed biotech company focused on developing regenerative exosome-based therapies for central nervous system injuries. Its lead product, ExoPTEN, has demonstrated strong preclinical data supporting clinical potential in treating acute spinal cord and optic nerve injury, both multi-billion-dollar marketsi. Regulatory milestones, including obtaining the Orphan Drug Designation, facilitates the roadmap towards clinical trials in the U.S. and Europe. Commercially, the Company is expected to offer solutions to companies interested in quality exosomes and minimally invasive targeted delivery systems for other indications. NurExone has established Exo-Top Inc., a U.S. subsidiary, to anchor its North American activity and growth strategy. For additional information and a brief interview, please watch Who is NurExone?, visit or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube. For more information, please contact: Dr. Lior ShaltielChief Executive Officer and DirectorPhone: +972-52-4803034Email: info@ Dr. Eva ReuterInvestor Relations – GermanyPhone: +49-69-1532-5857Email: Allele Capital PartnersInvestor Relations – +1 978-857-5075Email: aeriksen@ press release contains certain 'forward-looking statements' that reflect the Company's current expectations and projections about its future results. Wherever possible, words such as 'may', 'will', 'should', 'could', 'expect', 'plan', 'intend', 'anticipate', 'believe', 'estimate', 'predict' or 'potential' or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements relating to: the; the Company's acceptance into the prestigious HTH Accelerator Program will support the Company's expansion into the U.S. market; the Company's participation in the HTH Accelerator Program is expected to enhance its visibility within the U.S. regenerative medicine ecosystem and support its mission as discussed herein; each RSU will be settled into one Common Share; and the NurExone platform technology offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications, including recovery of optic nerve function and overall visual health. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. In developing the forward-looking statements in this press release, we have applied several material assumptions, including: the Company's acceptance into the prestigious HTH Accelerator Program will allow it to support the Company's expansion into the U.S. market; the Company's participation in the HTH Accelerator Program will give the Company the ability to enhance its visibility within the U.S. regenerative medicine ecosystem and support its mission as discussed herein; each RSU will be settled into one Common Share; and the NurExone platform technology offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications, including recovery of optic nerve function and overall visual health Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to risks related to: the Company's early stage of development; lack of revenues to date; government regulation; market acceptance for its products; rapid technological change; dependence on key personnel; dependence on the Company's strategic partners; the fact that preclinical drug development is uncertain, and the drug product candidates of the Company may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of the Company; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the inability to obtain or maintain regulatory approval of the drug product candidates of the Company; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of the Company; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected or impacted by unforeseen issues; the inability to obtain adequate financing; the inability to obtain or maintain intellectual property protection for the drug product candidates of the Company; risks that the Company's intellectual property and technology won't have the intended impact on the Company and/or its business; the Company's inability to carry out its pre-clinical trials and realize upon the stated benefits of the pre-clinical trials; the inability of the Company to realize on the benefits of exosomes; the inability of the Company to produce and/or supply exosomes for a wide range of applications; the inability of the Company's products to be used for patient treatment; there not being broader adoption in the field and/or cell therapy applications; the inability of the Company to fulfill its intended future plans and expectations; there not being growing clinical demand for innovative treatments in spinal cord, optic nerve, and/or other therapeutic areas; the Company's inability to realize upon the stated potential for exosome-loaded drugs in regenerating or repairing damaged nerves; the Company's inability to maintain its ongoing commitment to using its ExoTherapy platform to advance the field of regenerative medicine and/or cell therapy applications; the Company's inability to expand into further studies; the Company will not receive all required regulatory approvals; the Company will not have clinical and/or commercial breakthroughs in regenerative medicine; the Company will be unable to enhance its presence in key markets; the NurExone platform technology not offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications; the Company will not realize its future development plans, operational initiatives, and strategic objectives; the Company will not advance its therapeutic programs and clinical milestones; the Company will not engage with regulatory agencies; the Company's acceptance into the prestigious HTH Accelerator Program will not support the Company's expansion into the U.S. market; the Company's participation in the HTH Accelerator Program will not enhance its visibility within the U.S. regenerative medicine ecosystem and will not support its mission as discussed herein; each RSU will not be settled into one Common Share; and the risks discussed under the heading 'Risk Factors' on pages 44 to 51 of the Company's Annual Information Form dated August 27, 2024, a copy of which is available under the Company's SEDAR+ profile at These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. i Spinal cord injury, Glaucoma 1
