UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of December 2023
Commission File Number: 001-37643
PURPLE BIOTECH LTD.
(Translation of registrant’s name into English)
4 Oppenheimer Street, Science Park, Rehovot
7670104, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
On December 20, 2023, Purple Biotech Ltd. (the
“Company” or the “Registrant”) issued a press release, “Purple Biotech Appoints Dr.
Yael Margolin to its Board of Directors, ” a copy of which is attached hereto as Exhibit 99.1.
Incorporation by Reference
This Report on Form
6-K, including all exhibits attached hereto, is hereby incorporated by reference into each of the Registrant’s Registration Statement
on Form S-8 filed with the Securities and Exchange Commission on May 20, 2016 (Registration file number 333-211478), the Registrant’s
Registration Statement on Form S-8 filed with the Securities and Exchange Commission on June 6, 2017 (Registration file number 333-218538),
the Registrant’s Registration Statement on Form F-3, as amended, originally filed with the Securities and Exchange Commission
on July 16, 2018 (Registration file number 333-226195), the Registrant’s Registration Statement on Form S-8 filed with the Securities
and Exchange Commission on March 28, 2019 (Registration file number 333-230584), the Registrant’s Registration Statement on Form F-3 filed with the Securities and Exchange Commission on September 16, 2019 (Registration file number 333-233795), the Registrant’s
Registration Statement on Form F-1 filed with the Securities and Exchange Commission on December 27, 2019 (Registration file
number 333-235729), the Registrant’s Registration Statement on Form F-3 filed with the Securities and Exchange Commission on May
13, 2020 (Registration file number 333- 238229), the Registrant’s Registration Statement on Form S-8 filed with the Securities
and Exchange Commission on May 18, 2020 (Registration file number 333-238481), each of the Registrant’s Registration Statements
on Form F-3 filed with the Securities and Exchange Commission on July 10, 2020 (Registration file numbers 333-239807 and 333-233793),
the Registrant’s Registration Statement on Form S-8 filed with the Securities and Exchange Commission on April 4, 2022 (Registration
file number 333-264107) and the Registrant’s Registration Statement on Form F-3 filed with the Securities and Exchange Commission
on March 23, 2023 (Registration file number 333-270769) and the Registrant’s Registration Statement on Form F-3, as amended,
originally filed with the Securities and Exchange Commission on December 8, 2022 (Registration file number 333-268710), to be a part
thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
December 20, 2023 |
PURPLE BIOTECH LTD. |
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By: |
/s/ Lior Fhima |
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Lior Fhima |
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Chief Financial Officer |
Exhibit 99.1
Purple Biotech Appoints Dr. Yael Margolin to
its Board of Directors
Dr. Margolin brings 35 years of expertise in
biotechnology, pharma, and venture capital
Purple Biotech also announces the resignation
of Mr. Fabien Sebille, who served as the Company’s Chief Business Officer
REHOVOT, Israel, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple
Biotech” or “the Company”) (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class therapies that harness
the power of the tumor microenvironment to overcome tumor immune evasion and drug resistance, today announced the appointment of Dr. Yael
Margolin as an independent member of the Company’s Board of Directors.
Dr. Yael Margolin has more than 35 years of experience as senior manager,
chief executive officer and board member in venture capital and in the pharmaceutical and biotech industries, leading strategic and business
planning, financing, team building, product development and corporate partnerships. Since 2019, Dr. Margolin has served as a board member
to several public and private companies in the healthtech industry, including: Point Biopharma Global (NASDAQ: PNT), Scinai Immunotherapeutics
(NASDAQ: SCNI), Quris AI, MakeSense, Neovac, Welltech Ventures, Ramot at Tel Aviv University and TAU Ventures by Tel Aviv University.
Dr. Margolin is a founder of mentoring@8400, a boutique voluntary mentoring program for young CEOs in Israel. From 2005 to 2019, she served
as President, Chief Executive Officer and director of Gamida Cell Ltd. (NASDAQ: GMDA), a clinical stage biopharmaceutical company, leading
the company from preclinical development through phase 3 international registration studies. Prior to that, Dr. Margolin served as Vice
President of Denali Ventures LLC, a venture capital firm focused on healthcare, and a program manager at Teva Pharmaceuticals. Dr. Margolin
holds a B.Sc. degree in biology and a M.Sc. degree Cum Laude both from Tel Aviv University in Israel, a Ph.D. from the Weitzman Institute
of Science in Israel and was a post-doctoral associate at the Yale University School of Medicine.
Dr. Margolin commented, “Purple’s pipeline of oncologic
drugs that focus on harnessing the tumor microenvironment have strong potential. I’m pleased to join this excellent group of executives,
researchers, and board members to help advance much needed treatments for patients in need.”
“We are pleased and honored to have Dr. Margolin join our board.
She has worked on both the science and business aspects to support a large number of healthtech companies, and we look forward to benefitting
from her industry expertise and guidance” stated Gil Efron, CEO of Purple Biotech “Moving into 2024, Purple Biotech is expecting
multiple readouts from its clinical trials and I’m looking forward to working with management and the board in this exciting year”.
In addition, Purple announces that Mr. Fabien Sebille, who served as
the Company’s Chief Business Officer, resigned from such position to pursue other opportunities as of the end of November 2023.
About Purple Biotech
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage
company developing first-in-class therapies that seek to overcome tumor immune evasion and drug resistance. The Company’s oncology pipeline
includes NT219, CM24 and IM1240. NT219 is a dual inhibitor, novel small molecule that simultaneously targets IRS1/2 and STAT3. In a Phase
1/2 study of NT219, the Company is currently advancing it in a dose escalation as a monotherapy treatment of solid tumors, and in a dose
escalation in combination with cetuximab for the treatment of recurrent and metastatic squamous cell carcinoma of the head and neck (SCCHN)
or colorectal adenocarcinoma (CRC). These studies will be followed by an expansion phase of NT219 at its recommended Phase 2 level in
combination with cetuximab in patients with recurrent and metastatic SCCHN. CM24 is a humanized monoclonal antibody that blocks CEACAM1,
an immune checkpoint protein that supports tumor immune evasion and survival through multiple pathways. The Company is advancing CM24
as a combination therapy with anti-PD-1 checkpoint inhibitors in a Phase 2 study for the treatment of pancreatic ductal adenocarcinoma
(PDAC). The Company has entered into a clinical collaboration agreement with Bristol Myers Squibb for the Phase 2 clinical trials to evaluate
the combination of CM24 with the PD-1 inhibitor nivolumab in addition to chemotherapy. IM1240 is a preclinical, conditionally-activated
tri-specific antibody that engages both T cells and NK cells to mount a strong, localized immune response within the tumor microenvironment.
The third arm specifically targets the Tumor Associated Antigen (TAA) 5T4 that is expressed in a variety of solid tumors and is correlated
with advanced disease, increased invasiveness and poor clinical outcomes. IM1240 has a cleavable capping technology that confines the
compound’s therapeutic activity to the local tumor microenvironment, and thereby potentially increases the anticipated therapeutic window
in patients. The Company’s corporate headquarters are located in Rehovot, Israel. For more information, please visit https://purple-biotech.com/.
Forward-Looking Statements and Safe Harbor
Statement
Certain statements in this press release that
are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that
are not statements of historical fact, and may be identified by words such as “believe”, “expect”, “intend”,
“plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”,
“project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words
or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue
reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current
views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and
unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance
or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans,
strategies and objectives of management for future operations; product development for NT219, CM24 and IM1240; the process by which such
early stage therapeutic candidates could potentially lead to an approved drug product is long and subject to highly significant risks,
particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy
and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the
expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect
the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the
difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products;
the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding
the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing
products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products;
our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against
our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation,
including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the
year ended December 31, 2022 and in our other filings with the U.S. Securities and Exchange Commission (“SEC”), including our
cautionary discussion of risks and uncertainties under “Risk Factors” in our Registration Statements and Annual Reports. These
are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we
have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is
made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained
herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however,
to consult any additional disclosures we make in our reports to the SEC, which are available on the SEC’s website, https://www.sec.gov.
CONTACTS:
Company Contact:
Lior Fhima
Chief Financial Officer
IR@purple-biotech.com
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