Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E81) ("APC" or the "Company"), is pleased to announce that its US subsidiary, Advanced Proteome Therapeutics Inc. ("APTI") is expanding operations with a new hire and additional lab space.
APTI is pleased to report that it has hired an organic chemist and acquired lab space for mammalian cell culture in the Boston University BioSquare facility.
The expansion is part of APTI's plan to monetize its antibody-drug conjugate (ADC) platform through generation of marketable data with additional ADC constructs developed using its license ready conjugation technology while also developing new complementary platforms and seeking opportunities to develop wholly owned therapeutic candidates.
The mammalian cell culture space will allow APTI to perform in vitro testing of ADCs in various cell-based models of cancer and healthy tissue. The ability to do so in house enables rapid testing of novel platforms' structure activity relationship which greatly accelerates development timelines while also enabling preliminary testing of potential clinical candidate ADCs without outsourcing.
Dr. Saumyadip Nemu joins APTI from University of Arkansas where he completed his PhD in organic chemistry - medicinal chemistry. Dr. Nemu expands APTI's synthetic capabilities and will contribute to the more rapid generation of novel molecules. His initial efforts are focused on the development of APTI's linker technology which is designed to overcome adverse properties of the highly hydrophobic payloads used in ADCs. The combination of optimized linker and conjugation technology is expected to lead to superior ADCs, increase APTI's attractiveness to potential collaborators and enhance the company's ability to develop its own ADCs.
Dr. Benjamin Krantz, President and CEO of APTI commented, "The expansion of our operations is crucial to our growth strategy and ability to generate value by improving antibody-drug conjugates. Dr. Nemu is an excellent addition to our team. He is accelerating the synthetic efforts for our new linker platform which is designed to complement our conjugation technology in making best in class ADCs. The acquisition of cell culture space allows for the rapid in vitro testing of our linker constructs as well as future technologies and, importantly, will allow for preliminary screening of prospective antibody-drug conjugates for clinical development in house."
Paul Woodward, CEO of the Company commented, "APTI's recent progress has made this expansion in personnel and facilities a necessary one to support upcoming dealmaking, ongoing IP development, and planned clinical development. This facility will save APTI both time and money while significantly increasing its capabilities as it commercializes its technology."
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
http://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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104842
