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Zenith Announces Further Advancement of Clinical Trial with ZEN-3694, a Proposed Equity Offering and an Update Webcast
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CALGARY, Alberta, June 04, 2018 (GLOBE NEWSWIRE) -- Zenith Capital Corp. ("Zenith" or the "Company") today announced that its wholly owned subsidiary, Zenith Epigenetics Ltd. ("Zenith Epigenetics"), has initiated the Phase 2 portion of the ongoing metastatic Castration Resistant Prostate Cancer ("mCRPC") clinical trial in patients that have progressed on an androgen receptor antagonist (ARi). In Phase 2, Zenith Epigenetics will be focused on continuing the evaluation of efficacy of ZEN-3694 in combination with enzalutamide (Xtandi). The associated translational program, measuring target modulation, measuring effect of ZEN-3694 on resistance markers of ARi, and for identifying patients that benefit the most from the combination treatment, will provide valuable information for further clinical development. Clinical data to date show that ZEN-3694 is active, safe, and well differentiated and will be presented at an upcoming scientific meeting.
Based on the continuous clinical success and strong pre-clinical rationale, Zenith Epigenetics is also expanding its clinical program. "We are excited as this clinical trial continues to deliver good results strengthening our confidence in ZEN-3694 and the clinical program. We are diligently expanding the clinical program into other patient populations with significant unmet need and poor prognosis. We believe we have a differentiated asset and we are a leader in combination approach with BET inhibitors,” stated Mr. Donald McCaffrey, President and Chief Executive Officer.
Additional trial details and updates can be found at: http://www.clinicaltrials.gov/.
The Company also announced that it intends to complete an equity private placement of up to 10 million common shares (the “Offering”). The net proceeds of the Offering will be used to fund research and development activities, general and administrative expenses, working capital and other general corporate purposes. Investment will be restricted to qualified Investors only on a first subscribed basis.
Webcast Presentation at the 2018 BIO International Convention
The Company will also host a Webcast today as part of its participation in the 2018 BIO International Convention in Boston, MA. Mr. McCaffrey will provide a corporate update and overview of recent activities.
Presentation & Webcast Details:
Date: Monday, June 4, 2018
Time: 2:30 pm EDT
Duration: ~13 minutes
Location: Boston Convention & Exhibition Center, Theater 2
Webcast Link: http://www.veracast.com/webcasts/bio/internationalconvention2018/64105201327.cfm
An archived replay of the webcast will also be available on the Company’s website under the EVENTS section.
Zenith Capital Corp. is a biotechnology investment company. Zenith Epigenetics Ltd., a wholly-owned subsidiary of Zenith Capital Corp., is a clinical stage biotechnology company focused on the discovery and development of novel therapeutics. Zenith Epigenetics Ltd.’s bromodomain (BET) inhibitors are being advanced in several oncology indications and have the potential to impact multiple additional diseases as well. The lead compound, ZEN-3694, is in clinical development for metastatic Castration Resistant Prostate Cancer (“mCRPC”).
For further information, please contact:
Donald J. McCaffrey, President and CEO
Zenith Capital Corp.
This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. In particular, this news release includes forward looking information relating to the Company’s clinical program and its intention to complete an equity private placement. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors which are described our most recent MD&A which are incorporated by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. We disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.