CPE News (9/8/2020) – Trillium Therapeutics Inc. has agreed to sell 2,297,794 of its common shares at a price of US $10.88 per share to Pfizer Inc. (NYSE: PFE), for gross proceeds of US $25.0 million by way of a registered direct offering. The financing is expected to close on or about September 10, 2020.
Dr. Jeff Settleman, Pfizer’s Senior Vice President and Chief Scientific Officer, Oncology, Worldwide Research, Development & Medical, has agreed to join Trillium’s Scientific Advisory Board (SAB), once formed. The SAB, expected to be announced later this year, will work closely with Trillium’s senior management team to guide Trillium’s scientific and clinical strategic priorities.
Trillium intends to use the net proceeds to help fund its ongoing and planned clinical trials for its CD47 program, and for working capital and general corporate purposes.
Mississauga, Ontario based Trillium is an immuno-oncology company developing innovative therapies for the treatment of cancer.
photo credit: Trillium
News Release
Trillium Therapeutics Announces $25 Million Equity Investment From Pfizer Inc.
• Pfizer invests $25 million in Trillium common shares at $10.88 per share
• Jeff Settleman, PhD, Pfizer’s Chief Scientific Officer for Oncology Research & Development, to join Trillium Scientific Advisory Board, currently being formed
CAMBRIDGE, Mass., Sept. 08, 2020 — 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
Company Contact:
James Parsons
Chief Financial Officer
Trillium Therapeutics Inc.
416-595-0627 x232
james@trilliumtherapeutics.com
www.trilliumtherapeutics.com
Media Contact:
Mike Beyer
Sam Brown Inc.
312-961-2502
mikebeyer@sambrown.com