Trillium Therapeutics Announces $25 Million Equity Investment From Pfizer Inc.
September 08 2020 - 4:56PM
Trillium Therapeutics Inc. (“Trillium” or
the “Company”) (NASDAQ/TSX:TRIL), a clinical stage
immuno-oncology company developing innovative therapies for the
treatment of cancer, today announced that it has agreed to sell
2,297,794 of its common shares at a price of $10.88 per share to
Pfizer Inc. (NYSE: PFE), for gross proceeds of $25.0 million (the
“
Transaction”). The common shares were
offered and sold to Pfizer Inc. in a registered direct offering
conducted without an underwriter or placement agent. The offering
is expected to close on or about September 10, 2020.
In addition, Dr. Jeff Settleman, Senior Vice
President and Chief Scientific Officer, Oncology, Worldwide
Research, Development & Medical, Pfizer, has agreed to join
Trillium’s Scientific Advisory Board (SAB), once formed. It is
anticipated that the SAB will be announced later this year. The SAB
will work closely with Trillium’s senior management team to guide
the Company’s scientific and clinical strategic priorities.
Trillium intends to use the net proceeds of the
offering to help fund its ongoing and planned clinical trials for
its CD47 program, and for working capital and general corporate
purposes.
The closing of the Transaction will be subject
to customary closing conditions, including the listing of the
common shares on the Toronto Stock Exchange
(“TSX”) and the Nasdaq Capital Market
(“Nasdaq”) and any required approvals of each
exchange. For the purposes of the TSX approval, the Company intends
to rely on the exemption set forth in Section 602.1 of the TSX
Company Manual, which provides that the TSX will not apply its
standards to certain transactions involving eligible interlisted
issuers on a recognized exchange, such as the Nasdaq.
The common shares were offered by means of a
prospectus supplement dated September 8, 2020 and accompanying
prospectus dated May 4, 2020, forming a part of the Company’s
effective shelf registration statement (File No. 333-237810). The
prospectus supplement and accompanying prospectus relating to this
offering will be filed with the U.S. Securities and Exchange
Commission (the “SEC”) and will be available on the SEC’s website
at www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the common shares,
nor shall there be any sale of the common shares in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Trillium
Therapeutics
Trillium is an immuno-oncology company
developing innovative therapies for the treatment of cancer. The
company’s two clinical programs, TTI-621 and TTI-622, target CD47,
a “don’t eat me” signal that cancer cells frequently use to evade
the immune system.
For more information visit:
www.trilliumtherapeutics.com
Caution Regarding Forward-Looking
Information
This press release contains forward-looking
statements within the meaning of applicable United States
securities laws and forward-looking information within the meaning
of Canadian securities laws (collectively, “forward-looking
statements”). Forward-looking statements in this press
release include, without limitation, statements relating to
Trillium’s plans to consummate the Transaction and the intended use
of proceeds therefrom, the planned reliance on the exemption set
forth in Section 602.1 of the TSX Company Manual and the formation
of the SAB and the members thereto. There can be no assurances that
Trillium will be able to complete the Transaction on the
anticipated terms, or at all. You should not place undue reliance
on these forward-looking statements. Actual results may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to the final
terms of the Transaction, market and other conditions, the
satisfaction of customary closing conditions related to the
Transaction, the impact of general economic, industry or political
conditions in the United States, Canada or elsewhere
internationally, and the risks and uncertainties facing Trillium
set forth in the prospectus supplement dated September 8, 2020 and
Trillium’s Annual Information Form for the year ended December 31,
2019 filed with Canadian securities authorities and on Form 40-F
with the U.S. Securities Exchange Commission, each as updated by
Trillium’s continuous disclosure filings, which are available at
www.sedar.com and at www.sec.gov. All forward-looking statements
herein are qualified in their entirety by this cautionary
statement, and Trillium disclaims any obligation to revise or
update any such forward-looking statements or to publicly announce
the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, except as required by law.
Company Contact:James
ParsonsChief Financial OfficerTrillium Therapeutics Inc.
416-595-0627 x232james@trilliumtherapeutics.com
www.trilliumtherapeutics.com
Media Contact:Mike Beyer Sam
Brown Inc.312-961-2502mikebeyer@sambrown.com
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