TIDMFFWD
RNS Number : 8545O
FastForward Innovations Limited
11 February 2021
FastForward Innovations Ltd / AIM: FFWD / Sector: Closed End
Investments
11 February 2021
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 that Portage Biotech Inc. (" Portage") has today
announced its 2021 research and development goals , including
advancing three of its pipeline assets through clinical trials
during the upcoming year. Portage also announced that it has
received approval from the NASDAQ Capital Market ('NASDAQ') to list
its common shares on the NASDAQ exchange, and expects to commence
trading on 25 February 2021 under the symbol 'PRTG'. FastForward
has a 0.56% interest in the issued stock of Portage.
Ed McDermott, CEO of FastForward Innovations, commented:
"Portage is one of our investments that has shown particular
promise over the past year and it is very welcome news to hear that
is has received approval to list on NASDAQ, an exchange that is
well known for the success of its biotechnology companies. Along
with Portage's pipeline of products which are targeted for clinical
testing in 2021, it supports a number of subsidiary companies
showing significant promise and we look forward to providing
further updates as its portfolio continues on its growth
trajectory."
The announcement is set out below without material changes or
adjustments.
PORTAGE BIOTECH PROVIDES RESEARCH AND DEVELOPMENT UPDATE AND
ANNOUNCES NASDAQ LISTING APPROVAL
-- Company to advance three clinical-stage programs in pipeline
--
-- Portage has received approval and is preparing for NASDAQ
listing --
Toronto, Ontario--(Newsfile Corp. - February 11, 2021) - Portage
Biotech Inc. (CSE: PBT.U) (OTC Pink: PTGEF) ("Portage" or the
"Company") today announced its 2021 research and development goals,
including advancing three of its pipeline assets through clinical
trials during the upcoming year. Portage also announced that it has
received approval from the NASDAQ Capital Market ("NASDAQ") to list
its common shares on the NASDAQ exchange, and expects to commence
trading February 25, 2021 under the symbol "PRTG."
2021 Research & Development Focus
Portage aims to catalyze research and development to produce a
higher volume of quality clinical programs through its development
strategy, commercial insights, and deep network of industry
relationships. In 2021, the Company will focus on advancing three
promising assets through clinical trials:
A Phase 1/2, open-label, dose-escalation and expansion study to
evaluate safety and dosing of PORT-3, an invariant natural killer
T-cell agonist (iNKT) co-formulated with an NY-ESO-1 vaccine in a
nanoparticle, seeks to enroll patients with advanced prostate or
ovarian tumors that express NY-ESO-1, a well-known cancer-testis
antigen (CTA). The humoral and cellular immune responses along with
the restricted expression of NY-ESO-1 make it a good target for
cancer immunotherapies. The study is supported by a grant from the
EU Horizon 2020 program. The trial has been approved by the
regulatory agency and institutional ethics committee and is ready
to start recruiting patients.
A Phase 1/2 trial investigating PORT-2, another iNKT agonist, in
a liposomal formulation in patients with non-small-cell lung cancer
and melanoma is expected to dose its first patients after COVID-19
restrictions in the United Kingdom (U.K.) ease. The trial is
sponsored by Oxford University and has been approved by the
University's research ethics board as well as the Medicines and
Healthcare products Regulatory Agency in the U.K.
An ongoing Phase 1 trial has transitioned to Phase 2 to
investigate PORT-1 (INT230-6), an intratumoral amphiphilic agent,
as a monotherapy and in combination with approved immunotherapies
pembrolizumab, through a collaboration with Merck, and ipilimumab
through a collaboration with Bristol Myers Squibb. The Phase 2
cohorts will focus on patients with difficult-to treat tumor types
including breast, squamous cell, bile duct, pancreatic, colon,
liver and sarcoma. Additional details are available on
www.clinicaltrials.gov (NCT#03058289).
"Moving the first two programs from our iNKT platform into the
clinic represents a huge milestone for our team," said Dr. Ian
Walters, chief executive officer of Portage Biotech. "Many patients
with difficult-to-treat tumors fail to respond to checkpoint
inhibitors, but PORT-2 and PORT-3 may prime the immune system and
enable a robust anti-cancer response, expanding potential
therapeutics for this population."
Early-Stage Research
STING Agonist
The researchers and staff working on a proprietary immune
priming and boosting technology using a STING agonist delivered in
a virus-like particle have shown proof of concept in animal models
and are beginning to progress the lead asset towards the clinic.
This platform offers multiple ways to target immune stimulation
towards cancer, as well as how to co-deliver multiple signals in a
single product. Researchers have developed a way to administer the
product systemically and not require direct tumor injections. The
team has received grant funding to study this technology in
combination with a COVID-19 vaccine to evaluate if it is possible
to boost the immune response for immunocompromised or elderly
patients.
Nanolipogel Coformulation
Portage is exploring the delivery of multiple signals to boost
the immune response towards cancer in a single product. The Company
has conducted further research with the technology licensed from
Yale University to co-deliver a PD1 blocking signal with a small
molecule vascular endothelial growth factor inhibitor. Other
co-formulations are planned for this year. Preliminary data look
promising, and the Company hopes to name its first clinical
candidate this year.
Dr. Walters concluded, "We continue to evaluate and prioritize
our early-stage portfolio and have initiated new collaborations
with two leading artificial intelligence players to identify new
assets that can be added to our portfolio and fast tracked to the
clinic. We aim to bring one to two new entities to clinical testing
each year."
About Portage Biotech Inc.
Portage is a clinical stage immuno-oncology company focused on
overcoming immune resistance. We source, nurture, and develop the
creation of early- to mid-stage, first- and best-in-class therapies
for a variety of cancers, by providing funding, implementing
viable, cost effective product development strategies, clinical
counsel/trial design, shared services, financial and project
management to enable efficient, turnkey execution of commercially
informed development plans. Our drug development pipeline portfolio
encompasses products or technologies with established scientific
rationales, including intratumorals, nanoparticles, liposomes,
aptamers, cell penetrating peptides, and virus-like particles.
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 forward-looking 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 CONTACT:
Contact:Media@portagebiotech.com
www.portagebiotech.com
***S***
For further information on the Company please visit www.fstfwd.co or contact:
Ed McDermott / Lance FastForward Innovations Email: info@fstfwd.co
de Jersey Ltd
James Biddle / Roland Beaumont Cornish Tel: +44 (0) 207
Cornish Limited, 628 3396
Nomad
------------------------ -----------------------------------
Isabella Pierre / Damon Shard Capital Partners T: +44 (0)20 7186
Heath LLP 9927
------------------------ -----------------------------------
Isabel de Salis / Beth St Brides Partners Email: info@stbridespartners.co.uk
Melluish Ltd,
Financial PR
------------------------ -----------------------------------
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.
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END
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