Investee Company Update: Portage Biotech Inc.

RNS Number : 9215J

FastForward Innovations Limited

16 April 2020

 

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

16 April 2020

FastForward Innovations Ltd ("FastForward" or, "FFWD")

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 update from its investee company, Portage Biotech Inc. ('Portage'), in which it holds a 1.18% interest.

Highlights

· Portage's portfolio company, Intensity Therapeutics Inc. ('Intensity'), which is pioneering a new immune-base approach to treat solid cancer tumours, has entered into a clinical trial collaboration agreement with New York Stock Exchange listed Bristol Myers Squibb Company

· Agreement will evaluate the safety and efficacy of Intensity's lead product, INT230-6, when dosed in combination with Bristol Myers Squibb's Cytotoxic T Lymphocyte-Associated Antigen 4 immune checkpoint inhibitor Yervoy^® 

Lorne Abony, Chairman of FastForward, commented: "We are delighted that Intensity has entered into this collaboration agreement with Bristol Myers Squibb Company, a leader in the cancer immunotherapy space. This follows Intensity's announcement of 30 March 2020, confirming that the safety led portion of its initial patient dosing using a combination of its own INT230-6 drug and Merck's Ketruda as part of a clinical trial collaboration agreement with Merck to kill tumours and increase immune system recognition has been successfully completed. We look forward to updating shareholders as other advances are made across Portage's portfolio."

Details

Portage, which has a portfolio of nine subsidiary companies, provided an update on portfolio company, Intensity Therapeutics Inc., which has entered into a clinical trial collaboration agreement with Bristol Myers Squibb Company (NYSE: BMY) (the 'Programme').

Intensity Therapeutics is a clinical-stage biotechnology company pioneering a new immune-base approach to treat solid cancer tumours. Its lead product, INT230-6, is an investigational, novel and potent anti-cancer drug designed to directly kill cancer cells through intratumoural injection and improve immune cell recognition of cancer, and is currently in human clinical testing to treat refractory solid tumour cancers as part of Intensity's Phase 1/2 clinical study ('IT-01').

The Programme will evaluate the safety and efficacy of the INT230-6 when dosed in combination with Bristol Myers Squibb's Cytotoxic T Lymphocyte-Associated Antigen 4 (CTLA-4) immune checkpoint inhibitor Yervoy^® (ipilimumab). The combination of the two products will be evaluated in patients with breast cancer, liver cancer and advanced sarcoma in a series of new cohorts within IT-01. Intensity will sponsor and conduct the clinical trial and Bristol Myers Squibb will supply Yervoy for use in the study.

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]
Jeremy King	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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