San Diego, California--(Newsfile Corp. - February 20, 2025) - Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) ("Thiogenesis" or the "Company") a clinical-stage biotechnology company developing disulfides that drive the production of critically important intracellular antioxidants and other therapeutic compounds, today announced that it has entered into a consulting and investor relations agreement effective February 15, 2025 (the "Agreement") with Bull Markets Media GmbH (the "Consultant"), a Germany-based digital stock market news portal.
The services to be provided by the Consultant include analyzing and assessing opportunities to broaden the Company's shareholder base and expanding the Company's contact network within Europe.
Pursuant to the Agreement, the Company has agreed to pay the Consultant a consulting fee of C$60,000, with fifty per cent payable upon signing of the Agreement and the remainder payable on June 1, 2025. The Company has also agreed to grant the Consultant 100,000 stock options pursuant to the Company's stock option plan. Each option enables the Consultant to acquire one common share at a price of $0.64 per share for a term of 3 years. The options will vest in tranches of 25,000 on each of May 15, August 15, November 15, 2025, and February 15, 2026. The Agreement has a term of twelve months and may be renewed at the end of the term annually for up to two additional years.
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 Agreement and its terms, including the grant of stock options, are subject to acceptance by the TSX Venture Exchange.
The Company is also pleased to announce that the TSXV has issued final acceptance of the Company's IR contract with Triomphe Holdings Ltd. doing business as Capital Analytica (see the Company's news release dated September 27, 2024).
About Thiogenesis
Thiogenesis Therapeutics, Corp. is a clinical-stage biopharmaceutical company operating through its wholly owned subsidiary based in San Diego, CA. 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 clearance. Prodrugs may enhance the profile of the active ingredient to increase its bioavailability and reduce side effects. Initial target indications include Mitochondrial Encephalopathy Lactic Acidosis and Stroke ("MELAS"), Leigh syndrome, Rett syndrome and pediatric MASH.
For further information, please contact:
Brook Riggins, Director, and CFO
Email:
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, nor the OTC Markets Group Inc. (OTCQX: OTCM) accepts responsibility for the adequacy or accuracy of this news release.
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