GeoVax Labs, Inc., a clinical-stage biotechnology company developing vaccines and immunotherapies for infectious diseases and cancer, has entered into an unsecured $1,000,000 Revolving Loan Agreement with Bowery Consulting Group Inc., according to a company announcement. The agreement, dated October 23, 2026, provides for advances of up to $1 million, though each advance is subject to the lender’s approval. The loan carries a 12% annual interest rate and matures 12 months from issuance.
The financing matters for more than its modest size. GeoVax is advancing GEO-MVA, a Modified Vaccinia Ankara-based vaccine targeting mpox and smallpox, under an expedited regulatory pathway with plans to initiate a pivotal Phase 3 trial in late 2026. The company said the loan reinforces its balance sheet and provides working capital to support operations as it pursues that program, which is aimed at expanding orthopoxvirus vaccine supply and biodefense preparedness.
The loan agreement also reshaped GeoVax’s board. On October 23, 2026, Randal Chase, Dean Kollintzas, Nicole Lemerond, Jayne Morgan and John Spencer, Jr. resigned as directors. Steven Brown, Tyler O’Brien and Manpreet Uppal were appointed as directors, each nominated by the lender pursuant to the agreement. The board now consists of five directors, and the company said it has determined that each newly appointed director meets SEC and Nasdaq independence standards. O’Brien and Uppal will join the Audit Committee alongside Dr. Robert McNally.
David A. Dodd, chairman and chief executive officer of GeoVax, said securing the financing is an important achievement that reinforces the balance sheet and provides working capital. He welcomed the new directors, citing their diverse experience and leadership, and thanked the departing board members for their contributions. “With strong leadership in place and a clear strategic path forward, we believe GeoVax is entering an exciting new chapter of growth and opportunity,” Dodd said in the announcement.
Beyond GEO-MVA, GeoVax is developing Gedeptin, a gene-directed enzyme prodrug therapy designed to enhance immune checkpoint inhibitor activity. Gedeptin has completed a multicenter Phase 1/2 trial in advanced head and neck cancer and is being advanced into combination strategies. The company maintains a global intellectual property portfolio and continues to evaluate strategic partnerships and funding opportunities. Further details on the loan agreement and new directors are expected in a Form 8-K filing with the Securities and Exchange Commission. The original release is available through www.newmediawire.com, and more information about the company can be found at www.geovax.com.
