Purple Biotech to Ring the Nasdaq Stock Market Opening Bell

Virtual Bell-Ringing Ceremony in Celebration of Company’s Recent Name Change to Purple Biotech

REHOVOT, Israel, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (the “Company”) (NASDAQ/TASE: PPBT), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, today will open trading on the Nasdaq Stock Market by ringing the opening bell in celebration of its recent name change. The Company recently changed its name to Purple Biotech to reflect its evolution to a focus on advancing first-in-class oncology therapies.

“We are thrilled to celebrate with the NASDAQ team this important moment in our corporate history,” said Isaac Israel, the Company’s Chief Executive Officer. “Our transformation to a focus on advancing first-in-class oncology therapies reflects Purple Biotech’s commitment to enhancing the length and quality of lives of cancer patients. To this end, we are excited about the potential of our lead clinical-stage assets, NT219 and CM24, to be effective, safe and long-lasting cancer treatments. With a great team and the necessary funding in place, we look forward to further advancing these promising product candidates in 2021 and beyond.”

The market opening ceremony will occur tomorrow, January 5, 2021 at 9:30 a.m. EST and can be viewed live at https://www.nasdaq.com/marketsite/bell-ringing-ceremony starting 9:23 a.m. For multimedia features such as exclusive content, photo postings, status updates, and videos of ceremonies, please visit http://www.facebook.com/Nasdaq. For news tweets, please visit @nasdaq.

About Purple Biotech
Purple Biotech Ltd. (the “Company”; NASDAQ/TASE: PPBT) is a clinical-stage company focusing on advancing first-in-class therapies to overcome tumor immune evasion and drug resistance in order to create successful long-lasting treatments for people with cancer. The Company’s oncology pipeline includes NT219 and CM24. NT219 is a small molecule targeting the novel cancer drug resistance pathways IRS1/2 and STAT3. The Company is currently advancing NT219 as a monotherapy treatment of advanced solid tumors and in combination with cetuximab for the treatment of recurrent or metastatic squamous cell carcinoma of head and neck cancer (SCCHN) in a phase 1/2 study. CM24 is a monoclonal antibody blocking CEACAM1, a novel immune checkpoint that supports tumor immune evasion and survival through multiple pathways. The Company plans to advance CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in selected cancer indications in a phase 1 study followed by a phase 2 for the treatment of non-small cell lung cancer and pancreatic cancer. The Company has entered into a clinical collaboration agreement, as amended, with Bristol Myers Squibb for the planned phase 1/2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab (Opdivo) in patients with non-small cell lung cancer and in combination with nivolumab in addition to nab-paclitaxel (ABRAXANE) in patients with pancreatic cancer. The Company is also the owner of Consensi, a fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension that was approved by the FDA for marketing in the U.S. Consensi is being sold in the U.S. by Burke Therapeutics, the marketing partner of the Company’s U.S. distributor, Coeptis Pharmaceuticals. The Company has also partnered to commercialize Consensi in China and South Korea. The Company has recently relocated its corporate headquarters to Rehovot, Israel. For more information, please visit http://www.kitovpharma.com.