A Personal Letter to the Shareholders from Michael T. Redman, CEO of Oncolix, Inc.
November 29 2017 - 7:30AM
Oncolix, Inc., (OTC PINK:ONCX) a company focused on developing new
cancer therapeutics, announces a letter from the CEO.
My fellow shareholders,
First, I would like to thank you for investing
in Oncolix. It is my responsibility to do everything in my power to
enhance shareholder value. Since the merger on August 3 of this
year, Oncolix has filed significant SEC documentation, completed a
name change from Advanced Environmental Petroleum Producers to
Oncolix and most recently, effectuated a stock ticker change from
(OTC:AEPP) to (OTC:ONCX). This stock ticker change
marks the end of an extensive review by the Financial Industry
Regulatory Authority (FINRA) into our company’s business model,
operations, and management team. We see this as a strong validation
of who we are as a company and the progress that we have made to
date. While we have been meeting all of our milestones and
logistics issues, I do not believe that the company’s valuation
reflects the value of the company and its lead asset, Prolanta. It
is my belief that the short-term milestones that I will outline
below should address this issue.
Following the ticker change, one of our top
priorities is to uplist from Pink Sheets to an OTC-QB listing. To
achieve this goal, we will be adding our second independent board
member in the near future so that we meet all of the OTC-QB
requirements. We believe you will be very impressed with our second
independent board member. We also intend to commence our
Scientific/Clinical Advisory board, which will consist of
world-wide leaders that can provide guidance as we progress our
drug Prolanta through the clinical trial process for the treatment
of gynecological and breast cancers. Furthermore, we are actively
pursuing both a Japanese and Chinese partner for investment,
collaboration and to license rights to Prolanta for the Asian
markets.
We are extremely excited about our prospects for
Prolanta. Oncolix has received U.S. FDA clearance to proceed with
human testing for our drug for the treatment of ovarian cancer.
While we currently have limited data, we have not observed any
adverse events related to Prolanta, which sets Prolanta apart from
other drugs on the market used in the treatment of cancer.
Furthermore, we have observed evidence of efficacy in the low dose
patients (tumor reduction) treated with Prolanta in our current
ovarian cancer trial, in late-stage ovarian cancer patients that
seldom respond to any treatment. Oncolix is in the process of
treating the next dosing group (the mid dose patients). Because
prolactin receptors are overexpressed in the vast majority of
gynecological and breast cancers, we believe Prolanta may be an
effective treatment for ovarian, cervical, endometrial/uterine and
breast cancer.
Furthermore, the FDA granted Prolanta Orphan
Drug Status for the treatment of ovarian cancer and we intend to
apply for the same designation in Europe, Japan and other
markets.
Prolanta is a first-in-class drug with a novel
mechanism of action called sustained autophagy, which causes cancer
cells to self-destruct through a programmed cell death sequence.
Autophagy recently made major headlines when a Japanese scientist,
Yoshinori Ohsumi was granted the 2016 Nobel Prize in Medicine for
his pioneering work in the area of autophagy.
Oncolix management is committed to reaching more
milestones that drive value for its shareholders and we believe we
are on the right path. We also are working diligently to get our
message out to more potential stockholders. It is our belief that
reaching several new milestones in the short-term will be an
exciting time for investors and Prolanta could be a breakthrough
drug for the treatment of deadly cancers.
I will be presenting at the 10th Annual LD Micro
conference on December 5-7 in Los Angeles. I would be delighted to
meet with you one-on-one if you are attending the conference.
Once again, I thank you for your investment and
commitment to Oncolix.
Regards,
Michael Redman, Chief Executive Officer of Oncolix November 29,
2017
About Oncolix
Oncolix is a clinical-stage biotechnology
company developing Prolanta™ for the treatment of ovarian,
cervical, uterine, breast and other cancers. The Company has a US
FDA-cleared IND to commence human testing of Prolanta™ in its first
indication, the treatment of ovarian cancer. This Phase 1
clinical trial began in 2016. Prolanta™ is a prolactin receptor
antagonist (or blocker) that has demonstrated efficacy in xenograft
models through a unique mechanism of action, autophagy. In addition
to ovarian cancer, there is strong preclinical evidence Prolanta™
may be effective in breast, prostate and other cancers. In the
current Phase 1 dose-escalation safety trial for the treatment of
ovarian cancer, to date there have been no observed serious adverse
events and no dose-limiting toxicities. The FDA has approved the
designation of Prolanta™ as an Orphan Drug for the treatment of
ovarian cancer, which may result in reduced filing fees (currently
$2 million), federal tax credits and marketing exclusivity.
Forward-Looking Statements
This press release above may contain
forward‐looking statements about the business, financial condition
and prospects of the Company. Forward looking statements can be
identified by the use of forward-looking terminology such as
“believes,” “projects,” “expects,” “may,” “goal,” “estimates,”
“should,” “plans,” “targets,” “intends,” “could,” or “anticipates,”
or the negative thereof, or other variations thereon, or comparable
terminology, by discussions of strategy or objectives.
Forward-looking statements relate to anticipated or expected
events, activities, trends or results. Because
forward-looking statements relate to matters that have not yet
occurred, these statements are inherently subject to risks and
uncertainties.
Although the Company believes that the
expectations reflected in forward-looking statements are
reasonable, there can be no assurances that such expectations will
prove to be accurate. Security holders are cautioned that
such forward-looking statements involve risks and uncertainties.
The forward-looking statements contained in the press release speak
only as of the date of the press release, and the Company expressly
disclaims any obligation or undertaking to report any updates or
revisions to any such statement to reflect any change in the
Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based. Certain factors
may cause results to differ materially from those anticipated by
some of the statements made in the press release. Investors are
urged to consider closely the disclosures in our Forms 10-K, 10-Q,
8-K and other filings with the SEC, which can be electronically
accessed from the SEC's website at http://www.sec.gov/.
Corporate contact:
Michael Redman P: 281-402-3167 E: mredman@oncolixbio.com
Investor contact: Robert Flamm, Ph.D. The Ruth Group E:
rflamm@theruthgroup.com