San Diego, California--(Newsfile Corp. - September 27, 2024) - Thiogenesis Therapeutics, Corp. (TSXV: TTI) (Thiogenesis or the Company) a clinical-stage biotechnology company developing thiol-active compounds that have strong antioxidant and anti-inflammatory properties and that have the potential to treat mitochondrial diseases, including metabolic syndrome, today announced that it has entered into an investor relations agreement (the IR Agreement), effective October 1, 2024, with Triomphe Holdings Ltd., doing business as Capital Analytica (Consultant).
The services to be provided by the Consultant include general social media consultation services regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, and other related investor relations services.
Pursuant to the IR Agreement, the Company has agreed to pay the Consultant a quarterly cash fee of $15,000 plus applicable taxes. The Company has also agreed to grant the Consultant 100,000 stock options pursuant to the Company's Omnibus Equity Plan dated September 3, 2024 (the Plan). Each option enables the Consultant to acquire one common share at a price of $0.70 per share for a term of 3 years. The options will vest one-half after 6 months, one-quarter after 9 months and the remainder after 12 months. The IR Agreement has a term of twelve months and may be renewed at the end of the term.
The Company and the Consultant act at arm's length, and the Consultant has no present interest, directly or indirectly, in the Company or its securities. The IR Agreement and its terms, including the grant of stock options, are subject to acceptance by the TSX Venture Exchange.
Also, the Company announces that it has granted 1,000,000 restricted share units (RSU) to an officer of the Company. The RSUs vest annually, one half each on Jan. 15, 2026, and Jan. 15, 2027. Upon vesting, each RSU will entitle the holder to exchange it for one common share of the Company to be issued at the then market price of the common shares. The RSUs were granted in accordance with the Plan.
About Thiogenesis
Thiogenesis Therapeutics, Corp. (TSXV: TTI) is a clinical-stage biopharmaceutical company operating through its wholly owned subsidiary based in San Diego, CA. The Company is publicly traded on the TSX Venture Exchange. Thiogenesis is developing sulfur-containing prodrugs that act as precursors to previously approved thiol-active compounds, with the potential to treat serious pediatric diseases with unmet medical needs. Prodrugs are drugs that contain previously approved active ingredients and are modified so that they only become active when metabolized. For regulatory purposes prodrugs can use existing third-party safety data in regulatory submissions in the streamlined 505 (b)(2) regulatory pathway in the US, and its equivalent hybrid system in Europe, to proceed into human efficacy trials with regulatory approval. Prodrugs may enhance the profile of the active ingredient to increase its bioavailability and reduce side effects. The Company's initial target indications include mitochondrial encephalopathy lactic acidosis and stroke-like episodes ("MELAS"), Leigh's syndrome, Rett syndrome and pediatric NASH.
For further information, please contact:
Brook Riggins, Director, and CFO
Email: info@thiogenesis.com
Tel.: (888) 223-9165
Forward Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward- looking statements") within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions, or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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 news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224776
SOURCE: Thiogenesis Therapeutics, Corp.
