REG - Seed Innovations Ltd - Investee Company Update: Portage Biotech Inc

Seed InnovationsAnnouncement

03/08/2023 07:00

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RNS Number : 1248I  Seed Innovations Limited  03 August 2023

 3 August 2023

 

SEED Innovations Limited

 

("SEED" or the "Company")

 

Investee Company Update: Portage Biotech Inc

 

SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies to which, in normal circumstances, they have limited access
to, is pleased to note an announcement released on the NASDAQ by its portfolio
company, Portage Biotech Inc ('PRTG').

 

The Company owns 37,623 ordinary shares in Portage representing 0.2% of
Portage's issued share capital. This liquid holding is worth c.US$111,744
(c.£87,000) as per Portage's NASDAQ closing price on 1 August 2023.

 

 

PRTG announced its financial results for the fiscal year ended 31 March 2023.

 

Highlights as reported by PRTG

·          PRTG poised to accelerate accrual in all clinical programs
as it activates numerous sites across multiple U.S. cities and abroad and
takes over sponsorship from the investigator-led programme

·          Updated interim data for lead iNKT engager, PORT-2,
presented at the 2023 ASCO Annual Meeting showed early evidence of monotherapy
activity with minimal toxicity

·          First patient dosed in Phase 1a trial of PORT-6 (A2AR
antagonist) in select solid tumours

·          Entered into a clinical collaboration agreement with Merck
for the evaluation of PORT-2, in combination with KEYTRUDA® (pembrolizumab),
Merck's anti-PD-1 therapy, for patients with first-line as well as PD-1
refractory NSCLC.

 

The announcement in full can be accessed from the following link:
https://www.globenewswire.com/news-release/2023/07/31/2715300/0/en/Portage-Biotech-Reports-Fiscal-Year-Ended-March-31-2023-Financial-Results-and-Business-Update.html
(https://www.globenewswire.com/news-release/2023/07/31/2715300/0/en/Portage-Biotech-Reports-Fiscal-Year-Ended-March-31-2023-Financial-Results-and-Business-Update.html)

- Ends -

 

 

For further information on the Company please
visit:    www.seedinnovations.co (http://www.seedinnovations.com/)
     or contact:

 

  Ed McDermott        SEED Innovations Ltd             E: info@seedinnovations.co 

 Lance de Jersey                                        
 James Biddle         Beaumont Cornish Limited,        T: (0)20 7628 3396

 Roland Cornish       Nomad                             
 Isabella Pierre      Shard Capital Partners LLP       T: (0)20 7186 9927

 Damon Heath          Broker
 Catherine Leftley    St Brides Partners Ltd,          E: info@stbridespartners.co.uk

 Ana Ribeiro          Financial PR

 Isabelle Morris

 

 

Notes

 

Seed Innovations Ltd

 

SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.

 

Portage Biotech, Inc

NASDAQ listed Portage is an emerging biotechnology company developing an
immunotherapy-focused pipeline to treat a broad range of cancers. Its focus is
to combine its own technology with already proven immune-boosting PD1 agents
and to this end, Portage has a pipeline of products targeted for clinical
testing and a growing roster of notable partnerships.

 

 

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