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San Diego, California--(Newsfile Corp. - September 27, 2024) - Thiogenesis Therapeutics, Corp. (TSXV: TTI) (Thiogenesis or the Company) a clinical-stage biotechnology company developing thiol-active compounds that have strong antioxidant and anti-inflammatory properties and that have the potential to treat mitochondrial diseases, including metabolic syndrome, today announced that it has entered into an investor relations agreement (the IR Agreement), effective October 1, 2024, with Triomphe Holdings Ltd., doing business as Capital Analytica (Consultant).
The services to be provided by the Consultant include general social media consultation services regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, and other related investor relations services.
Pursuant to the IR Agreement, the Company has agreed to pay the Consultant a quarterly cash fee of $15,000 plus applicable taxes. The Company has also agreed to grant the Consultant 100,000 stock options pursuant to the Company's Omnibus Equity Plan dated September 3, 2024 (the Plan). Each option enables the Consultant to acquire one common share at a price of $0.70 per share for a term of 3 years. The options will vest one-half after 6 months, one-quarter after 9 months and the remainder after 12 months. The IR Agreement has a term of twelve months and may be renewed at the end of the term.
The Company and the Consultant act at arm's length, and the Consultant has no present interest, directly or indirectly, in the Company or its securities. The IR Agreement and its terms, including the grant of stock options, are subject to acceptance by the TSX Venture Exchange.
Also, the Company announces that it has granted 1,000,000 restricted share units (RSU) to an officer of the Company. The RSUs vest annually, one half each on Jan. 15, 2026, and Jan. 15, 2027. Upon vesting, each RSU will entitle the holder to exchange it for one common share of the Company to be issued at the then market price of the common shares. The RSUs were granted in accordance with the Plan.
About Thiogenesis
Thiogenesis Therapeutics, Corp. (TSXV: TTI) is a clinical-stage biopharmaceutical company operating through its wholly owned subsidiary based in San Diego, CA. The Company is publicly traded on the TSX Venture Exchange. Thiogenesis is developing sulfur-containing prodrugs that act as precursors to previously approved thiol-active compounds, with the potential to treat serious pediatric diseases with unmet medical needs. Prodrugs are drugs that contain previously approved active ingredients and are modified so that they only become active when metabolized. For regulatory purposes prodrugs can use existing third-party safety data in regulatory submissions in the streamlined 505 (b)(2) regulatory pathway in the US, and its equivalent hybrid system in Europe, to proceed into human efficacy trials with regulatory approval. Prodrugs may enhance the profile of the active ingredient to increase its bioavailability and reduce side effects. The Company's initial target indications include mitochondrial encephalopathy lactic acidosis and stroke-like episodes ("MELAS"), Leigh's syndrome, Rett syndrome and pediatric NASH.