SOURCE: Advanced Proteome Therapeutics Corporation

Advanced Proteome Therapeutics Corporation

May 19, 2015 09:15 ET

Advanced Proteome Therapeutics Reports on Warrant Exercise

VANCOUVER, BC--(Marketwired - May 19, 2015) - Advanced Proteome Therapeutics Corporation ("APC" or the "Company") (TSX VENTURE: APC) (FRANKFURT: 0E8) is pleased to report that all of the 3,100,000 share purchase warrants that were issued under the Company's private placement that closed on November 5, 2013, having an expiry date of May 5, 2015, have been exercised by the holders to purchase 3,100,000 common shares of the Company at a price of CDN $0.15 per share, for proceeds to the Company of CDN $465,000.

In addition to the amount above, the 248,000 finders' warrants issued under the private placement were exercised to purchase 248,000 common shares of the Company at a price of CDN $0.15 for CDN $37,200, for aggregate gross proceeds to the Company of CDN $502,200.

"Our investors' confidence in APC is gratifying," said Dr. Allen Krantz, Chief Executive Officer. "We will use these funds for aggressively testing our lead compounds in animal models of cancer to advance them in development, and to explore possibilities for partnering and business development. We recognize the importance of combining our expertise with our colleagues in industry to reap benefits for both patients and our investors, and exploring the possibilities of out-licensing surplus technology, which are integral parts of the Company's strategy."

About APC

APC has been applying its Foundation Trinity™ Technology to proteins targeted for the treatment of cancers. Advanced targeted therapies are designed to attack primarily cancer cells and are expected to dominate the anti-cancer therapeutics' market in the near future. The Company's goals are not only to employ therapy targeted for tumor cells, but also to deliver combination therapy in a single, pure therapeutic agent, that can also, in turn, be combined with additional agents to enhance therapies.

To achieve this end, it has been the Company's intention to utilize a unique protein (and related systems), not only as a delivery vehicle to tumor cells, but also as a scaffold upon which to attach each anti-cancer entity to its own specific site on the protein surface -- both key to efficient manufacturing and product development. The protein vehicle has emerged as a potential immunotherapeutic as it is implicated in activating the immune system to attack and help clear tumor cells. Immunotherapy is perhaps the most powerful current approach to cancer, and one of great commercial interest to the pharmaceutical industry.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:

    Advanced Proteome Therapeutics Corporation
    Alexander (Allen) Krantz
    President and Chief Executive Officer
    Tel: (617) 638-0340
    http://www.advancedproteome.com

    Scott Young
    Investor Relations
    Tel: (705) 888-2756