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Bioasis Technologies Inc. V.BTI

Alternate Symbol(s):  BIOAF

Bioasis Technologies Inc. is a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factors and the xB3™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier and the treatment of CNS disorders in areas of high unmet medical need. The in-house development programs are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders.


TSXV:BTI - Post by User

Comment by prophetoffactzon Jan 16, 2023 4:16pm
79 Views
Post# 35226468

RE:RE:RE:RE:RE:Forcing Bioasis to Answer

RE:RE:RE:RE:RE:Forcing Bioasis to Answer

"Do you think that the Ellipses leak signalled that deals that would have been transformational for Bioasis and would have provided validation of the xB3 platform by leveraging the synergy between Bioasis and each of its partners would have helped to calalyze a financial and corporate renaissance for Bioasis?"

The only time I've seen Ellipses is what you've posted. I have no idea what exactly was on the slide. I haven't seen you post the terms of a deal. The failure of BTI's 'Plan A'(eg. Cresence, J&J, Neuremedy) to lead to financial options and lead to NASDAQ may have meant a deal with Ellipses couldn't be finalized. BTI was in financial distress and dependent on waivers from Lind as a result of the failure of 'Plan A'. Why would Ellipses enter a deal with a company that doesn't have its financial house in order and operating with a waiver from a creditor? BTI needs to get out of debt and put some cash on its balance sheet so that companies like Ellipses know BTI will be a viable partner over the course of a deal. I don't see any upfront payment from Ellipses in the agreement below. There was just a service agreement. BTI could also have thought it could enter a more meaningful deal With Ellipses merged with Midatech. Biodexa would be a much stronger and more viable partner and has other cancer assets too that could be part of a broader alliance. Biodexa could be a development partner. 

 

Ellipses Pharma and SunRock Biopharma Enter Into a Licensing Agreement for a First-in-class Bifunctional HER3:TRAIL Fusion Protein

Ellipses Pharma granted exclusive global rights to develop and commercialise SRB22, in solid tumours

LONDON & SANTIAGO DE COMPOSTELA, Spain--()--SunRock Biopharma S.L. (“SunRock”), a biopharmaceutical company that is developing a portfolio of innovative bispecific antibodies to treat incurable cancer, and Ellipses Pharma Limited (“Ellipses”), a global drug development company focused on accelerating the development of new oncology treatments, announce that they have entered into an exclusive licensing agreement for SRB22, a fully human bifunctional HER3:TRAIL fusion protein, which going forward will be known as EP0017.

“The agreement with Ellipses will speed up the development of EP0017, moving this potentially life-changing asset towards the clinic and then hopefully towards cancer patients who desperately need novel approaches to fight invasive tumours.”

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Under the agreement, Ellipses has been granted global rights to develop and commercialise EP0017 and will assume the full cost and responsibility for the remaining pre-clinical and clinical development of the compound. In line with its strategy, Ellipses intends to out licence EP0017 for commercialisation if it proves safe and effective in clinical trials. SunRock will continue to be involved in the development of EP0017 to ensure efficient translational activities through a service agreement with Ellipses. If Ellipses out-licences EP0017, SunRock will also receive milestone payments and royalties.

EP0017 is a first-in-class bifunctional fusion protein with a dual mechanism of action. It selectively targets HER3, which is overexpressed in several different tumour types, and additionally, binds to the tumour death receptors DR4 and DR5, inducing tumour cell death. Promising data has been generated in a range of preclinical models that demonstrate the potential of EP0017.

Laureano Simn, Ph.D., CEO of SunRock Biopharma, said
“The agreement with Ellipses will speed up the development of EP0017, moving this potentially life-changing asset towards the clinic and then hopefully towards cancer patients who desperately need novel approaches to fight invasive tumours.”

Rajan Jethwa, MD, CEO of Ellipses Pharma commented:
“Our mission is to rapidly develop innovative cancer therapies, to get these therapies into the clinic as quickly as possible and potentially save more lives. We are excited about the opportunity to progress the development of this promising asset and look forward to working with SunRock to expedite the preclinical work.”

ENDS

About SunRock Biopharma S.L.

Since its inception in 2014, SunRock has developed a comprehensive pipeline of seven therapeutic antibodies, bispecific antibodies and fusion proteins with proven therapeutic effects against several types of tumours that currently lack a treatment.

The innovative spirit of SunRock defines the development of all its molecules, that are the result of a disruptive technological platform that has led to pioneer therapies with an innovative format, including first-in-class bispecific antibodies and fusion proteins that target both novel and well-known therapeutic targets. SunRock’s project portfolio is generating great expectations among patient associations, major hospitals, and biopharmaceutical companies. The Government of Galicia participates in SunRock through the Galicia Innova Tech Fund, FICC.

About Ellipses Pharma Limited

Ellipses Pharma is a global drug development company based in London, focused on accelerating the development of cancer medicines and treatments through an innovative drug development model that combines unbiased vetting to de-risk initial asset selection with an uninterrupted funding flow to minimize the time it takes to advance lead products through clinical trials and reach patients. For more information, please visit ellipses.life

Contacts

SunRock Biopharma S.L.
Juan Buela, Manager
press@sunrockbiopharma.com
sunrockbiopharma.com

Ellipses Pharma Ltd
Suzanne Wood
media@ellipses.life


 

BTI was in financial distress


 

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