Exciting News!!!
Advanced Proteome Therapeutics Provides Project Update Vancouver, British Columbia--(Newsfile Corp. - August 14, 2020) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E8) ("APC" or the "Company"), is pleased to announce that its US subsidiary, Advanced Proteome Therapeutics Inc. ("APTI"), is rapidly advancing three projects with the potential to add significant shareholder value. As previously announced, APTI's scientists have identified multiple compounds with high predicted affinity for the SARS-CoV-2 main protease that exceed the affinity of all published candidate viral protease inhibitors known to APTI. APTI has filed patents to protect our inventions and is currently synthesizing the compounds in-house and with completion of the first candidate at scale for initial testing expected in the next two weeks. APTI is in advanced discussions with academic and government laboratories with proven capability to perform cell culture and in vivo testing of these compounds in validated SARS-CoV-2 models. APTI is also making excellent progress on the previously announced collaboration with Dr. Brian Zeglis at the City University of New York to test APTI's site specific conjugation technology in the rapidly growing field of antibody radioisotope conjugates (ARCs). APTIs conjugation technology will be compared to industry standard conjugation utilizing the HER2 targeted antibody, pertuzumab. APTI is performing its conjugation in-house and the Zeglis lab is performing industry standard conjugation in their lab. Initial data comparing the homogeneity of the conjugates is expected within 3 weeks. The collaborators will then proceed to radiolabeling, PET imaging in a HER2 mouse model and evaluation of in vivo bio-distribution. Finally, APTI is advancing discussions with a Boston-based biotech company that has developed antibodies against a high value target expressed on multiple cancer types with the intent to license these antibodies to create novel antibody drug conjugates (ADCs). Initial due diligence and identification of next steps is expected within 4-6 weeks. Dr. Benjamin Krantz, Director of APTI commented, "This is an exciting time for APTI. We have a number of projects advancing simultaneously with potential to create significant value for shareholders. First, our SARS-CoV-2 main protease inhibitor project is in the synthesis phase and we are preparing for initial testing to demonstrate activity. Second, we are directly testing our conjugation technology against industry standard tech to evaluate biodistribution with potential to further the thesis that our site selective conjugation technology leads to increased on-target and decreased off-target delivery in vivo. Lastly, we are currently in discussions with a collaborator regarding licensing an antibody toward a high value target for ADC generation. A successful ADC toward this target would have blockbuster potential given the prevalence of the target. Due diligence is ongoing with clarity on next steps expected in the near future." ABOUT THE COMPANY: Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value. FOR FURTHER INFORMATION PLEASE CONTACT: Advanced Proteome Therapeutics Corporation Paul Woodward President and CEO Tel: 604 690-3797 https://www.advancedproteome.com 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. This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators. Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.