Aptose Receives $10 Million Through a Facility Agreement with Hanmi; Negotiating Future Collaboration Agreement with Hanmi to Jointly Develop Tuspetinib
31 August 2024 - 6:30AM
Aptose Biosciences Inc. (“Aptose” or the “Company”) (NASDAQ: APTO,
TSX: APS), a clinical-stage precision oncology company developing
tuspetinib, a highly differentiated oral kinase inhibitor for the
treatment of patients with acute myeloid leukemia (AML), today
announced that it received a $10 million loan through a Facility
Agreement with Hanmi Pharmaceutical Co. Ltd. (“Hanmi”). The loan is
convertible as prepayment of milestone obligations under the Future
Collaboration Agreement (as defined hereinafter) or repayable after
the expected completion of a triple drug combination trial with
tuspetinib in newly diagnosed AML patients. Aptose will use the
proceeds from such loan for the development of tuspetinib.
Beyond the $10 million Facility Agreement,
Aptose and Hanmi have agreed to negotiate a new tuspetinib
co-development collaboration agreement (the “Future Collaboration
Agreement’), intended to provide additional funding to accelerate
clinical development of tuspetinib. Aptose licensed tuspetinib from
Hanmi Pharmaceutical in November 2021.
About AptoseAptose Biosciences
is a clinical-stage biotechnology company committed to developing
precision medicines addressing unmet medical needs in oncology,
with an initial focus on hematology. The Company's small molecule
cancer therapeutics pipeline includes products designed to provide
single agent efficacy and to enhance the efficacy of other
anti-cancer therapies and regimens without overlapping toxicities.
The Company’s lead clinical-stage compound tuspetinib (TUS), is an
oral kinase inhibitor that has demonstrated activity as a
monotherapy and in combination therapy in patients with relapsed or
refractory acute myeloid leukemia (AML) and is being developed as a
frontline triplet therapy in newly diagnosed AML. For more
information, please visit www.aptose.com.
Forward Looking StatementsThis
press release may contain forward-looking statements within the
meaning of Canadian and U.S. securities laws, including statements
relating but not limited to, the negotiation of a collaboration
agreement with Hanmi, the development of tuspetinib, and 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. Such statements reflect our current views with
respect to future events and are subject to risks and uncertainties
and are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by us are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors could
cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements described in this press release. Such factors could
include, among others: our ability to negotiate a collaboration
agreement to jointly develop tuspetinib with Hanmi, our ability to
remain compliant with Nasdaq listing requirements and other risks
detailed from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United States Securities and Exchange
Commission.
Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
For further information, please contact:
Aptose Biosciences Inc. Susan
PietropaoloCorporate Communications & Investor
Relations201-923-2049spietropaolo@aptose.com
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