WINNIPEG, Manitoba, March 02, 2017 (GLOBE NEWSWIRE) -- 3D Signatures Inc. (TSXV:DXD) (OTCQB:TDSGF) (FSE:3D0) (the "Company" or "3DS"), today reported operational and financial results for its fiscal second quarter ended December 31, 2016.

Second Quarter Corporate Highlights

• On October 19, 2016, 3DS announced its participation in PRECISE, a major clinical trial for prostate cancer diagnosis and management.
• On October 27, 2016, the Company introduced its Business Advisory Board (“BAB”), consisting of internationally renowned senior biotech executives.
• On November 14, 2016, 3DS introduce its Clinical and Scientific Advisory Board (“CSAB”), comprised of world-renowned physicians and researchers.
• On December 7, 2016, the Company announced that preliminary results of an important collaborative initiative with Institut Universitaire de Cardiologie et de Pneumologie De Quebec were presented at 17th World Conference on Lung Cancer.  The preliminary results demonstrated that 3DS’ technology was able to distinguish between the two respective types of deadly lung cancer.
• On December 9, 2016, 3DS announced the appointment of Helen Stevenson to its Board of Directors.  The Company also announced that Dr. Ian Smith stepped down from its Board of Directors and will joined its CSAB.  
• On December 16, 2016, 3DS announced the closing of a private placement for 5,187,618 units sold at a price per unit of $0.75 for total gross proceeds to the Company of $3,890,714, including the partial exercise of an over-allotment option.  On December 22, 2016 3DS announced that it had issued an additional 215,300 units pursuant to the second tranche of the private placement, which were sold at $0.75 per unit for gross proceeds to the Company of $161,475 pursuant to the partial exercise of the over-allotment option.
• 3DS completed the first of five stages of the validation program for its Hodgkin’s lymphoma test, Telo-HL, powered by the Company’s proprietary TeloView™ software platform.

“We have mapped out an aggressive agenda for 2017, with our primary goal being to advance the TeloView™ platform toward commercialization,” said Jason Flowerday, CEO of 3D Signatures. “Importantly, the private placement completed during the fiscal second quarter provided us with the financial resources needed to initiate the Telo-HL validation program and, at the same time, begin final preparations to move our prostate cancer test, Telo-PC, into its own validation program. We look forward to updating our stakeholders as we progress.”

Summary Second Quarter Results

For the three months ended December 31, 2016, the Company reported a net loss of $1,606,593, or $0.03 loss per common share, as compared to a net loss of $337,821 or $0.01loss per common share for the three months ended December 31, 2015.  The increase is primarily due to increases in salaries, wages, benefits and stock-based compensation as a result of the Company’s hiring of additional employees, as well as the appointment of new Board, BAB and CSAB members, to support its global growth strategy. Additional increases in professional fees and investor relations costs are the result of 3DS becoming a publicly traded company in September 2016. 

As at December 31, 2016, the Company’s cash amounted to $3,613,370.  In addition, subsequent to December 31, 2016, 3DS completed the third and final tranche of its private placement for gross proceeds of $447,800.

The Company’s financial statements and management’s discussion and analysis are available on www.sedar.com.

About 3DS

3DS (TSXV:DXD) (OTCQB:TDSGF) (FSE:3D0) is a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures. The technology is well developed and supported by 22 clinical studies on over 2,000 patients on 13 different cancers and Alzheimer’s disease. Depending on the desired application, this platform technology can measure the stage of disease, rate of progression of disease, drug efficacy, and drug toxicity. The technology is designed to predict the course of disease and to personalize treatment for the individual patient. For more information, visit the Company’s new website at http://www.3dsignatures.com.

Forward-Looking Information

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements within, other than statements of historical fact, are to be considered forward looking. Although 3DS believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: market demand; technological changes that could impact the Company’s existing products or the Company’s ability to develop and commercialize future products; competition; existing governmental legislation and regulations and changes in, or the failure to comply with, governmental legislation and regulations; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; adverse results or unexpected delays in clinical trials; changes in laws, general economic and business conditions; and changes in the regulatory regime. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

For further information, please contact:
Stephen Kilmer
Investor Relations
647-872-4849
stephen.kilmer@3dsignatures.com

OR

Hugh Rogers
VP Corporate Finance
604-250-6162
investors@3dsignatures.com