Trillium Announces Management and Board Changes and Provides Corporate Update
April 30 2019 - 7:00AM
Trillium Therapeutics Inc. (“Trillium” or the “Company”)
(NASDAQ/TSX: TRIL), a clinical stage immuno-oncology
company developing innovative therapies for the treatment of
cancer, announces changes to its executive management team, its
board of directors and provides an operational update.
Corporate Governance
Changes
Niclas Stiernholm, Ph.D., has informed the Board
of Directors of his resignation as President & Chief Executive
Officer of the Company effective April 29, 2019. In addition,
Dr. Stiernholm has resigned as a director of the Company. The Board
of Directors has appointed a committee to lead a search for
Trillium’s next Chief Executive Officer.
In the interim, the Board of Directors has
appointed Robert L. Kirkman, M.D., the current Chairman of the
Board, as Executive Chairman. In addition, Bob Uger, Ph.D., the
current Chief Scientific Officer of Trillium, will assume the role
of interim President. Dr. Uger has also been appointed to the
Board of Directors to fill the vacancy created by Dr. Stiernholm’s
departure. Dr. Kirkman and Dr. Uger will together lead the Company
and are anticipated to continue in their new roles until the
appointment of a new CEO.
“The Board of Directors would like to thank Dr.
Stiernholm for his seventeen years of service as Chief Executive
Officer of Trillium, which included the identification and
in-licensing of our anti-CD47 program and the evolution of Trillium
as a clinical stage company, among many other accomplishments,”
said Dr. Kirkman. “We intend to build upon this legacy as we
seek new leadership to advance our lead product, TTI-621, into late
stage clinical development.”
Corporate Update
Trillium also today provided an update of its
development programs and confirmed its expected milestones for the
remainder of 2019.
The trial of intratumoral injection of TTI-621
(NCT02890368) continues with additional data expected by year-end
2019. Trillium believes that the data obtained to date in
this trial may support moving this product into trials with
registration potential. The Company intends to seek FDA
guidance in mid-2019 on a proposed pivotal trial of intratumoral
TTI-621 in patients with cutaneous T-cell lymphoma.
Trillium is also advancing its trials of the
intravenous administration of TTI-621, with a goal of dose
intensifying beyond the current 0.5 mg/kg, building upon the
single-agent and combination activity observed at doses as low as
0.1 and 0.2 mg/kg. Trillium anticipates enrolling the first
patient at these higher doses in the third quarter of 2019.
Trillium is also developing TTI-622, a second
anti-CD47 product candidate with potential advantages for
combination therapy (NCT03530683). Preliminary data from this
trial are expected in late 2019.
Trillium also announced today the opening of an
office in Cambridge, Massachusetts. The office will house a
portion of Trillium’s clinical development team and is expected to
provide access to an expanded talent pool of drug development
professionals as Trillium advances its products into later stage
development.
About Trillium Therapeutics
Trillium is an immuno-oncology company
developing innovative therapies for the treatment of cancer. The
company’s two clinical programs, TTI-621 and TTI-622, target
CD47, a “do not eat” signal that cancer cells frequently use to
evade the immune system. Trillium also has a preclinical STING
program and a proprietary fluorine-based medicinal chemistry
platform that is being used to develop novel compounds directed at
undisclosed immuno-oncology targets.
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"). Forward-looking statements in this press release
include, among other things, plans to recruit a new Chief Executive
Officer, obtaining additional data on current trials, obtaining
regulatory clarity with the FDA on the Company’s intratumoral
program, the ability to continue dose intensification of TTI-621
and the potential benefits of opening a new office. With respect to
the forward-looking statements contained in this press release,
Trillium has made numerous assumptions regarding, among other
things, the effectiveness and timeliness of preclinical and
clinical trials, and the completeness, accuracy and usefulness of
the data. While Trillium considers these assumptions to be
reasonable, these assumptions are inherently subject to significant
scientific, business, economic, competitive, market and social
uncertainties and contingencies. Additionally, there are known and
unknown risk factors that could cause Trillium's actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements contained in this press release. A
discussion of risks and uncertainties facing Trillium appears in
Trillium's Annual Information Form for the year ended December 31,
2018 filed with Canadian securities authorities and available at
www.sedar.com and on Form 20-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 at 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.
Investor Relations:James
ParsonsChief Financial OfficerTrillium Therapeutics Inc.
416-595-0627 x232james@trilliumtherapeutics.com
Media Relations:Jessica Tieszen
Canale Communications for Trillium Therapeutics
619-849-5385jessica@canalecomm.com
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