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Trillium Therapeutics Inc (2)
Symbol TRIL
Shares Issued 26,288,831
Close 2019-04-29 C$ 0.89
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Trillium's president, CEO, director Stiernholm resigns

2019-04-30 07:57 ET - News Release

Dr. Robert Kirkman reports

TRILLIUM ANNOUNCES MANAGEMENT AND BOARD CHANGES AND PROVIDES CORPORATE UPDATE

Trillium Therapeutics Inc. has made changes to its executive management team, its board of directors and has provided an operational update.

Corporate governance changes

Dr. Niclas Stiernholm, PhD, has informed the board of directors of his resignation as president and chief executive officer of the company effective April 29, 2019. In addition, Dr. Stiernholm has resigned as a director of the company. The board of directors has appointed a committee to lead a search for Trillium's next chief executive officer.

In the interim, the board of directors has appointed Dr. Robert L. Kirkman, MD, the current chairman of the board, as executive chairman. In addition, Dr. Bob Uger, PhD, the current chief scientific officer of Trillium, will assume the role of interim president. Dr. Uger has also been appointed to the board of directors to fill the vacancy created by Dr. Stiernholm's departure. Dr. Kirkman and Dr. Uger will together lead the company and are anticipated to continue in their new roles until the appointment of a new CEO.

"The board of directors would like to thank Dr. Stiernholm for his 17 years of service as chief executive officer of Trillium, which included the identification and in licensing of our anti-CD47 program and the evolution of Trillium as a clinical stage company, among many other accomplishments," said Dr. Kirkman. "We intend to build upon this legacy as we seek new leadership to advance our lead product, TTI-621, into late-stage clinical development."

Corporate update

Trillium also today provided an update of its development programs and confirmed its expected milestones for the remainder of 2019.

The trial of intratumoral injection of TTI-621 (NCT02890368) continues with additional data expected by year-end 2019. Trillium believes that the data obtained to date in this trial may support moving this product into trials with registration potential. The company intends to seek FDA guidance in mid-2019 on a proposed pivotal trial of intratumoral TTI-621 in patients with cutaneous T-cell lymphoma.

Trillium is also advancing its trials of the intravenous administration of TTI-621, with a goal of dose intensifying beyond the current 0.5 milligram per kilogram, building upon the single-agent and combination activity observed at doses as low as 0.1 and 0.2 mg/kg. Trillium anticipates enrolling the first patient at these higher doses in the third quarter of 2019.

Trillium is also developing TTI-622, a second anti-CD47 product candidate with potential advantages for combination therapy (NCT03530683). Preliminary data from this trial are expected in late 2019.

Trillium also announced today the opening of an office in Cambridge, Mass. The office will house a portion of Trillium's clinical development team and is expected to provide access to an expanded talent pool of drug development professionals as Trillium advances its products into later stage development.

About Trillium Therapeutics Inc.

Trillium is an immuno-oncology company developing innovative therapies for the treatment of cancer. The company's two clinical programs, TTI-621 and TTI-622, target CD47, a do not eat signal that cancer cells frequently use to evade the immune system. Trillium also has a preclinical STING program and a proprietary fluorine-based medicinal chemistry platform that is being used to develop novel compounds directed at undisclosed immuno-oncology targets.

We seek Safe Harbor.

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