Investee Company Update: Portage Biotech Inc.

RNS Number : 6281M

FastForward Innovations Limited

12 May 2020

 

FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End Investments

12 May 2020

FastForward Innovations Ltd

("FastForward", "FFWD" or the "Company")

Investee Company Update: Portage Biotech Inc.

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to note the following announcement released on 11 May 2020 concerning investee company Portage Biotech Inc. (" Portage"). FastForward has a 1.18% interest in the issued stock of Portage.

The announcement is set out below without material changes or adjustments.

Portage Biotech Inc.

('Portage' or the 'Group')

Portage Makes Additional Investment in Stimunity S.A.S, a Parasbased Cancer Immunotherapy Company

· Stimunity hits developmental milestone

· Developed systemic delivery for STING pathway

· Additional €900k invested

Toronto, Ontario, May 11, 2020 - Portage Biotech Inc. ("Portage" or "the Company") (Canadian Securities Exchange: PBT.U, OTC Markets : PTGEF), is pleased to announce that It has made an additional €900k investment in its associate, Stimunity, the Paris-based cancer immunotherapy company focused on STING. Stimunity has reached a major milestone in its preclinical development plan and the additional financing will enable it to start the manufacturing of its biologic cGAMP-VLP (STI-001) lead compound.

"We knew since the beginning of the company that STING-activating cGAMP Virus-Like Particle (cGAMP-VLP) technology has a unique property enabling its payload to preferentially target immune cells, which is different from other chemical STING approaches. This has an impact on the stimulation of the immune system and the quality of the anti-tumoral response. We have determined that this targeting mechanism is able to deliver the cGAMP via systemic route of administration and that it leads to induction of systemic anti-tumor T-cell response" says Nicolas Manel, co-founder and Scientific Advisor of the company.

"These new data demonstrate that picking the right approach to modulate STING is key. The use of VLP carrier enables a simple systemic approach to deliver STING modulation directly to immune cells. Portage is pleased with the work performed by Stimunity and this new round of financing will support the progress toward clinical trials" says Dr. Ian Walters, Chairman of Stimunity's Supervisory Board and CEO of Portage.

For additional details, please see the press release issued by Stimunity at https://stimunity.com/static/Stimunity_Milestone2_2020_VF.pdf  

About Stimunity

Stimunity is an early-stage research and development company focused on the development of STING agonists in cancer. The technology, licensed from Institut Curie, Inserm, and University of Oxford, is based on a unique biologic approach which combines the endogenous STING activator encapsulated into a Virus-Like Particle (VLP). Stimunity's drug is best-in-class, and activates the innate immune system, enhances T-cell response against tumor cells. More information at https://stimunity.com  

About Portage Biotech Inc.  

Portage is a unique entity in the world of biotechnology, enabling research and development to produce more clinical programs and maximize potential returns by eliminating typical overhead costs associated with many biotechnology companies. We nurture the creation of early- to midstage, first- and best-in-class therapies for a variety of cancers, by providing funding, strategic business and clinical counsel, and shared services, to enable efficient, turnkey execution of commercially-informed development plans. Our portfolio encompasses nine subsidiary companies whose products or technologies have established scientific rationales, including intratumorals, nanoparticles, liposomes, aptamers, cell penetrating peptides, and virus-like particles. In collaboration with our subsidiaries, we create viable product development strategies, to cost effectively deliver best-in-class R&D, clinical trial design, and financial and project management, to ultimately build value and support commercial potential.

Forward-Looking Statements  

This news release contains statements about the Company's information that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forwardlooking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.

For more information please visit: www.portagebiotech.com

*** ENDS***

Miscellaneous

Cautionary Statement

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of FastForward Innovations Ltd. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. FastForward Innovations assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

ENDS

For further information on the Company please visit www.fstfwd.co   or contact:

Ed McDermott / Lance de Jersey	FastForward Innovations Ltd	Email: [e-mail]
James Biddle / Roland Cornish	Beaumont Cornish Limited, Nomad	Tel: [phone]
Graham Dickson	Optiva Securities Limited, Broker	Tel: [phone]
Isabel de Salis / Beth Melluish	St Brides Partners Ltd, Financial PR	Tel: [phone]

Notes

FastForward Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.

 

END

 

 

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