Greetings from EGB Ventures,
With 2024 in the books we are excited for Biotech Showcase in less than two weeks. Rize Oncology has a new focus in oncology. Island Pharmaceuticals and Tryptamine Therapeutics both reported positive clinical data, while accessing capital as well.
Rize Oncology. GeneTether is now Rize Oncology.
Licensing Agreement for STS-201
The Company has successfully closed the previously announced licensing agreement for STS-201 (the “License”), a small molecule that has exhibited significant utility in soft tissue sarcoma, as well as other types of cancers and certain proliferative diseases. The licensing of STS-201 represents a critical milestone in GeneTether’s evolution as the Company strategically shifts its focus toward oncology drug development.
Private Placement Financing
The Company has also closed its previously announced non-brokered private placement (the “Private Placement”), raising gross proceeds of $500,000. The financing was fully subscribed, demonstrating strong investor confidence in the Company’s strategy and future potential. The proceeds will be utilized to advance the Company’s development programs, with a focus on regulatory preparations and initial clinical activities for its lead asset, STS-201 and for general working capital purposes.
GeneTether Therapeutics Inc. has announced a name and symbol change to Rize Oncology Inc.
Shares will begin trading under the new name and symbol and with a new CUSIP number on January 13, 2025.
Island Pharmaceuticals (ASX: ILA)
On November 27th, Island Pharmaceuticals (ASX:ILA) announced that the Safety Review Committee (SRC) reviewing ILA’s clinical trial concluded that ISLA-101 showed anti-dengue activity in an initial Phase 2a clinical readout in the prophylactic study. No safety concerns were seen by the SRC that necessitated implementing any defined individual or study changes. The SRC recommended that Island proceed with the Phase 2b therapeutic cohort. On January 7, Island announced that the Phase2b therapeutic cohort had been initiated with the first 4 subjects enrolled and exposed to challenge virus. Dosing of ISLA-101 in these subjects will begin 7 days following virus exposure. Six additional subject will be initiated in two weeks with data expected in early Q2 2025.