Rakovina Therapeutics Announces Non-dilutive Financial Contributions to Support Lead Optimization of Novel Anti-cancer Agents

VANCOUVER, British Columbia, Dec. 21, 2021 (GLOBE NEWSWIRE) — Rakovina Therapeutics Inc. (TSXV: RKV) (“the Company”), a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies, today announced that the Company is receiving advisory services and research and development funding of up to $56,803 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) and up to $63,750 from MITACS.  

Funding from NRC IRAP will support the development of new research infrastructure for screening and optimization of potential drug candidates from Rakovina Therapeutics portfolio of novel DNA-damage response inhibitors. MITACS funding will support expanded staffing to enable these developments.

“We are pleased to receive this support from NRC IRAP and MITACS,” stated Prof. Mads Daugaard, Rakovina Therapeutics’ president and chief scientific officer. “This non-dilutive funding allows us to expand and accelerate our efforts to advance the development of innovative cancer treatments with the potential to improve patient outcomes across multiple tumor types.”

MITACS (https://www.mitacs.ca/) is a national non-profit organization that connects industry and academia to further research, helps address the needs of small- and medium-sized enterprises (SMEs), and fosters the overall growth and success of Canada’s innovation ecosystem.

About Rakovina Therapeutics Inc.

Rakovina Therapeutics Inc. is focused on the development of 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.

Additional Information

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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.

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