Trillium Therapeutics Reports Second Quarter 2017 Financial and Operating Results

TORONTO, ONTARIO--(Marketwired - Aug. 11, 2017) - Trillium Therapeutics Inc. (NASDAQ:TRIL)(TSX:TRIL), a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer, today provided a corporate update and reported financial results for the six months ended June 30, 2017.

"Both our intravenous and intratumoral signal-seeking Phase 1 trials of TTI-621 progressed well this quarter," said Dr. Niclas Stiernholm, Trillium's Chief Executive Officer. "We are encouraged by the preliminary multiple clinical responses seen across varied hematologic malignancies and we look forward to providing additional updates by year end."

Corporate Update

• Additional Cohorts Added to Phase 1 Trial of TTI-621 - Based upon early evidence of anti-tumor activity in patients with both myeloid and lymphoid malignancies, the Company has amended its Phase 1 intravenous dosing trial of TTI-621 to include:
  • An additional cohort of patients with Hodgkin lymphoma treated with a combination of TTI-621 and the PD-1 checkpoint inhibitor nivolumab;
  • Two additional cohorts of patients with T- and B-cell acute lymphoblastic leukemia and small cell lung cancer treated with TTI-621 monotherapy;
  • Cautious exploration of dose-intensification, building upon the observation of good overall tolerability associated with attenuated thrombocytopenia over successive weekly doses of TTI-621; and
  • Increasing the size of cohorts exhibiting early evidence of clinical benefit.

• Public Offering Completed - In June 2017, Trillium completed an underwritten public offering of common shares and non-voting convertible preferred shares in the United States. In the offering, the Company sold 2,949,674 common shares and 3,250,000 Series II Non-Voting Convertible First Preferred Shares at a price of U.S. $5.00 per share. The gross proceeds from this offering were $41,846,775 (U.S. $30,998,370) before deducting offering expenses of $2,856,400. The net proceeds will be used for further clinical development of the Company's SIRPaFc programs, TTI-621 and TTI-622, and for general corporate and working capital purposes.

• Development of Small Molecule Programs - The Company has concluded that its EGFR small molecule candidate, TTI-2341, appears to be a viable and competitive drug candidate for the treatment of brain cancers and plans to continue to pursue internal development of TTI-2341 while undertaking partnering discussions in parallel.

Upcoming Clinical Events in the Second Half of 2017: