Advanced Proteome Therapeutics Update on Plans for 2022

Vancouver, British Columbia–(Newsfile Corp. – February 3, 2022) – Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E81) (“APC” or the “Company”), is pleased to announce that its US subsidiary, Advanced Proteome Therapeutics Inc. (“APTI”) is providing an update on plans for the upcoming year.

APTI is pleased to report that, after operational advancements and continued antibody-drug conjugate (ADC) platform development and validation in 2021, 2022 is expected to be a transformational year.

In July of 2021, Dr. Benjamin Krantz was appointed CEO of APTI with a focus of taking the company into its next phase of operational growth, platform development and technology commercialization. Since then, ADC pioneer, Dr. Ravi Chari, has joined APTI’s scientific advisory board and our synthetic organic chemistry group has been expanded with the hirings of Dr. Rajeshkumar Manian and Dr. Saumyadip Nemu. APTI has furthered its operational capabilities with the acquisition of cell culture space to perform in vitro testing of our ADC technologies in house enabling the rapid testing of ADC constructs expediting platform development and lead ADC identification. APTI’s antibody conjugation technology has continued to be validated in different models with results from the collaboration with the Zeglis lab featured in an oral presentation at the World Molecular Imaging Conference 2021. Additionally, we have continued to advance our development of optimized linker technology. As previously reported, payload hydrophobicity has been shown to have a negative impact on ADC behavior and the addition of solubilizing elements to linkers can mitigate these effects. APTI has designed and is synthesizing linker variants with proprietary solubilizing elements to further improved ADC functionality which will lead to generation of additional important intellectual property.

In the first half of 2022, APTI will complete our radioimmunoconjugate collaboration with the Zeglis laboratory. A manuscript related to this work is in preparation for submission to high impact bioconjugation journals. Its publication will provide significant visibility for APTI conjugation technology. APTI plans to perform the first in vivo testing of our solubilizing linker in combination with our conjugation technology this spring with data by mid-year. These tests will be performed using a trastuzumab-MMAE model ADC which is selected due to the hydrophobicity of MMAE, the frequency of its use in clinically developed ADCs, and our ability to make cross study comparisons with other technologies that have used trastuzumab-MMAE model ADCs. The tests will be designed to show the contribution of both our conjugation and linker technologies to ADC performance. APTI believes that these studies will provide a strong validation of our conjugation and soluble linker approaches and the data generated will be used to support the acquisition of additional financing this summer.

Following funding, APTI will further optimize the linker technology while testing in additional ADC models to demonstrate the platform versatility and pursue ADC candidates for in-house clinical development.

Dr. Benjamin Krantz, President and CEO of APTI commented, “This an exciting and transformational year for APTI. I believe the combination of optimized linker and conjugation technology will significantly increase APTI’s attractiveness to potential collaborators and enhance our ability to develop our own ADCs. This spring we will be doing our first live animal studies to validate our linker approach. This will be followed by fundraising to buildout the technology, generate marketable data for potential licensees and identify antibodies for internal ADCs in the fall. Each step in this process adds significant value to APTI’s technologies and will lead to significantly enhanced operations by the end of the year.”

Paul Woodward, CEO of the Company commented, “APTI is taking control of its destiny. We are generating our own datasets while we develop our platforms and are moving towards construction of a proprietary ADC. Out-licensing innovative technology is far easier with a rich dataset and prior successes. Our conjugation technology is ready for licensing, and moving towards commercial validation of our technology through in-house development, will not only assist us in demonstrating our technology’s value, but hopefully provide us with a very valuable asset (an ADC progressing through the clinic) while we continue discussions with potential licensors of our conjugation technologies.”

Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.

Advanced Proteome Therapeutics Corporation
Paul Woodward
President and CEO
Tel: 604 690-3797

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 release.

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “intends”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulators.

Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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