The company will focus on the development of novel DNA-damage repair (DDR) inhibitors for the treatment of cancer
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VANCOUVER, BC, April 1, 2021 /CNW/ - Rakovina Therapeutics Inc. (the "Company") (TSX-V: RKV) is pleased to announce the commencement of trading on the TSX Venture Exchange under the symbol "RKV" following the completion of its previously announced qualifying transaction (the "Qualifying Transaction"), the detail of which is described in the Company's press release dated March 25, 2021 and prior announcements available at www.sedar.com.
In connection with the closing of the qualifying transaction and commencement of trading the Company:
Acquired certain rights to three novel series of DNA-damage response inhibitors
Raised gross proceeds of $4,565,900 in an oversubscribed private placement
Established a research collaboration with the University of British Columbia to undertake lead-optimization and pre-clinical development activities
Appointed Jeffrey Bacha (Executive Chairman), Mads Daugaard (President & CSO), John Langlands (COO) and David Hyman (CFO & Corporate Secretary) as Executive Officers
Appointed Jeffrey Bacha, Dennis Brown, Al Delucrezia and Michael Liggett to the Board of Directors
"The capitalization of Rakovina Therapeutics and commencement of trading on the TSX Venture Exchange is a major milestone in our commitment to extending the lives and improving outcomes of patients with cancer," said Mr. Jeffrey Bacha, Rakovina Therapeutics' executive chairman. "We are pleased to assemble this experienced team to lead research conducted through our collaboration with the University of British Columbia with the near-term goal of building upon already-established proof-of-concept data and advancing Rakovina's drug candidates toward human clinical trials," concluded Mr. Bacha.
Rakovina Therapeutics will begin trading as a Tier 2 Issuer on the TSX Venture Exchange ("TSXV") under the symbol "RKV".
About Rakovina Therapeutics Inc.
Rakovina Therapeutics Inc. was established in 2020 to develop new cancer treatments based on novel DNA-damage response technologies. The Company has established a pipeline of DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials and obtaining marketing approval for new cancer therapeutics from Health Canada, the United States Food and Drug Administration and similar international regulatory agencies. Further information may be found at www.rakovinatherapeutics.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
The TSXV has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the content of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding the Company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the Company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of the Company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the medical device industry, economic factors, regulatory factors, the equity markets generally and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the Company's most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
For further information: Rakovina Therapeutics Inc., David Hyman, Chief Financial Officer, Email: firstname.lastname@example.org; Media Contact, email@example.com