Trillium Therapeutics Announces “At-The-Market” Issuance Program and Filing of Prospectus Supplement
June 19 2018 - 6:30PM
Trillium Therapeutics Inc. (NASDAQ:TRIL)
(TSX:TRIL) (“Trillium” or the “Company”), a clinical stage
immuno-oncology company developing innovative therapies for the
treatment of cancer, today announced that it has entered into a
sales agreement (“Sales Agreement”) with Cowen and Company, LLC
(the “Agent”) pursuant to which the Company may, at its discretion
and from time to time during the term of the Sales Agreement, sell,
through the Agent, acting as agent and/or principal, such number of
common shares of the Company (“Common Shares”) as would result in
aggregate gross proceeds to the Company of up to US$25
million. Sales of Common Shares through the Agent, acting as
agent, will be made through “at the market” issuances on the Nasdaq
Capital Market (“NASDAQ”) at the market price prevailing at the
time of each sale, and, as a result, sale prices may vary. No
Common Shares will be offered or sold on the Toronto Stock Exchange
(the “TSX”) or any other trading markets in Canada.
The Company has filed a prospectus supplement
dated June 19, 2018 to the base prospectus included in its U.S.
registration statement on Form F-10 (Registration No. 333-222085)
declared effective on January 8, 2018. The U.S. prospectus
supplement (together with the related base prospectus) is available
on the SEC’s website (www.sec.gov) and the Canadian
prospectus supplement (together with the related base shelf
prospectus) is available on the SEDAR website maintained by the
Canadian Securities Administrators at www.sedar.com.
Alternatively, copies of these documents may be obtained from Cowen
and Company LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Attention:
Prospectus Department, or by telephone at (631) 274-2806. Before
you invest, you should read the U.S. prospectus supplement and the
related base shelf prospectus and other documents that the Company
has filed with the SEC for more complete information about the
Company and this offering.
The Company intends to use the net proceeds of
the offering for: (i) ongoing research and development activities;
(ii) working capital and general corporate purposes, which may
include advancing the development of its SIRPaFc program; and (iii)
investment in other development programs.
For the purposes of the TSX approval, the
Company intends to rely on the exemption set forth in Section 602.1
of the TSX Company Manual, which provides that the TSX will not
apply its standards to certain transactions involving eligible
inter-listed issuers on a recognized exchange, such as NASDAQ.
Listing of the Common Shares on the TSX will be subject to
fulfilling all applicable listing requirements.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
About Trillium Therapeutics
Trillium is a clinical stage immuno-oncology
company developing innovative therapies for the treatment of
cancer. The Company’s lead program, TTI-621, is a SIRPaFc fusion
protein that consists of the CD47-binding domain of human SIRPa
linked to the Fc region of a human immunoglobulin (IgG1). It is
designed to act as a soluble decoy receptor, preventing CD47 from
delivering its inhibitory (“do not eat”) signal. Neutralization of
the inhibitory CD47 signal enables the activation of macrophage
anti-tumor effects by pro-phagocytic (“eat”) signals. Trillium has
two active TTI-621 clinical trials: A phase 1 study evaluating
intravenous dosing of SIRPaFc in patients with advanced cancer
(NCT02663518), and a phase 1 study evaluating direct intratumoral
injections in solid tumors and mycosis fungoides (NCT02890368).
TTI-621 has recently been granted an Orphan Drug Designation by the
FDA for the treatment of cutaneous T-cell lymphoma. A phase 1
clinical trial (NCT03530683) evaluating intravenous dosing of
TTI-622, an IgG4 SIRPaFc fusion protein, in patients with relapsed
or refractory lymphoma or myeloma is underway. Trillium also has a
proprietary medicinal chemistry platform, using unique fluorine
chemistry, which permits the creation of new chemical entities with
improved pharmacological properties. Stemming from this platform,
the Company’s most advanced preclinical program is an
orally-available epidermal growth factor receptor antagonist with
increased uptake and retention in the brain. In addition, a number
of compounds directed at undisclosed immuno-oncology targets are
currently in the discovery phase.
For more information visit:
www.trilliumtherapeutics.com
Caution Regarding Forward-Looking
Information
This press release contains forward-looking
statements within the meaning of applicable United States
securities laws and forward-looking information within the meaning
of Canadian securities laws (collectively, “forward-looking
statements”). Such statements include, but are not limited
to, statements relating to the Company’s plans, objectives,
expectations and intentions and other statements including words
such as “continue”, “expect”, “intend”, “will”, “should”, “would”,
“may”, and other similar expressions. Forward-looking statements in
this press release include statements about, without limitation,
Trillium’s ability to obtain requisite approvals, including
approval of the TSX and NASDAQ, for the listing of the Common
Shares, its ability to complete the offering of Common Shares and
its proposed use of proceeds. Actual results may differ materially
from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to whether or
not Trillium will be able to raise sufficient capital through the
sale of Common Shares, the final terms of the proposed offering,
market and other conditions, and the impact of general economic,
industry or political conditions in the United States, Canada or
elsewhere internationally. You should not place undue reliance on
these forward-looking statements. A more complete discussion of the
risks and uncertainties facing Trillium appears in Trillium’s
Annual Information Form for the year ended December 31, 2017 filed
with the Canadan securities authorities and available at
www.sedar.com and on Form 40-F with the U.S. Securities Exchange
Commission and available at www.sec.gov, each as updated by
Trillium’s continuous disclosure filings, which are available at
www.sedar.com and www.sec.gov. All forward-looking statements
herein are qualified in their entirety by this cautionary
statement, and Trillium disclaims any obligation to revise or
update any such forward-looking statements or to publicly announce
the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, except as required by law.
Contact:James ParsonsChief
Financial OfficerTrillium Therapeutics Inc. 1-416-595-0627
x232james@trilliumtherapeutics.com www.trilliumtherapeutics.com
Investor and Media
Relations:Jessica Dyas Canale Communications for Trillium
Therapeutics 1-619-849-5385jessica@canalecomm.com
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