Corporate UpdateCorporate Update - TELO is pleased to announce that it has received the first batch of samples related to the ongoing multiple myeloma clinical studies conducted in collaboration with Mayo Clinic. The samples received passed the Company's accession quality control and TELO's technical team has already started to process the received samples.
- TELO has advanced discussions with its Clinical Advisory Board and strategic consultant, BioCore Strategies, LLC, for the purpose of expanding the commercial applications of its proprietary diagnostic/prognostic technology platform TeloView®.
- TELO has also received $616,289 funds from the early exercise of warrants that were issued in connection with convertible secured debt (the debt was converted on November 24, 2019) expiring on November 24, 2021. The exercised warrants represent approximately half of the total warrants issued. As a result, the cash position of TELO was $2,153,560 as of February 28, 2021.
- TELO also announces the appointment of Mr. Christopher Ross as the Company's CFO effective April 01, 2021. Mr. Ross is a CPA,CGA with broad financial experience in providing financial accounting, strategic analysis, and consulting services to both private and public companies. He has been granted 100,000 options with a term of 5 years and an exercise price of $0.64 per TELO's approved stock option plan and subject to final TSX Venture Exchange approval.
- Mr. Ross is replacing Mr. Ryan Cheung, who has served as Company's CFO and Board Director since September 2018. Mr. Cheung will continue to serve as a Director on TELO's Board.
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease-associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, Telo-MMTM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer.