Market Newsdesk

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.

Forward-Looking Statements and Safe Harbor Statement 

Certain statements in this press release that are forward-looking and not statements of historical fact are forward looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that are not statements of historical fact, and may be identified by words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans, strategies and objectives of management for future operations; product development for NT219 and CM24; the process by which early stage therapeutic candidates such as NT219 and CM24 could potentially lead to an approved drug product is long and subject to highly significant risks, particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products; the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products; our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation, including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2019 and in our other filings with the U.S. Securities and Exchange Commission (“SEC”), including our cautionary discussion of risks and uncertainties under “Risk Factors” in our Registration Statements and Annual Reports. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however, to consult any additional disclosures we make in our reports to the SEC, which are available on the SEC’s website, http://www.sec.gov.

Company Contact:
Gil Efron
Deputy CEO & Chief Financial Officer
[email protected] +972-3-933-3121 ext. #105

Investor Relations Contact:
Chuck Padala
[email protected]
+1 646-627-8390

VANCOUVER, Jan. 04, 2021 (GLOBE NEWSWIRE) — January 4, 2021 – BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company, is pleased to announce it has applied for patent protection of new 2-Bromo-LSD (“TD-0148A”) formulations and their use in the treatment of depression and mood disorders.

2-Bromo-LSD is a nontoxic second-generation LSD-derived molecule that mimics the therapeutic potential of LSD, without the psychedelic effects or hallucinations. BetterLife’s recent acquisition of the assets of Transcend Biodynamics, makes it the only entity able to synthesize 2-Bromo-LSD utilizing a patented process which obviates the need to first synthesize LSD-25, eliminating the regulatory barriers of working with a Schedule 1 substance.

Ahmad Doroudian, CEO of BetterLife, commented, “The invention covered by this provisional patent filing holds great promise for the treatment of various psychiatric disorders, and helps us advance on our path to becoming a leader in the psychedelic drug space which is estimated to become a $6.85 billion dollar industry by 2027 alone.  We are excited to be developing and bringing to market treatments addressing a range of mental health conditions, including depression and anxiety.”

About BetterLife Pharma Inc.

BetterLife Pharma Inc. is an emerging biotechnology company engaged in the development and commercialization of therapeutic pharmaceuticals as well as drug delivery platform technologies. BetterLife is refining and developing drug candidates from a broad set of complementary interferon-based technologies which have the potential to engage the immune system to fight virus infections, such as the coronavirus disease (COVID-19) and human papillomavirus.

For further information please visit www.abetterlifepharma.com.

Contact Information:

Ahmad Doroudian, Chief Executive Officer
Email: [email protected]
Phone: 604-221-0595

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SP Funds’ approach is geared towards advisors with clients focused on faith-based investing, and others who are seeking unique, socially responsible and ethical investing solutions.

Lake Mary, FL, Jan. 04, 2021 (GLOBE NEWSWIRE) —  SP Funds, home of North America’s largest family of Sharia-compliant ETFs launches North America’s first Sharia-compliant REIT ETF – SP Funds S&P Global REIT Sharia ETF (ticker: SPRE).

SP Funds’ growing family of ETFs offers investors a suite of products to assist them in diversifying their portfolios across equity, fixed income, and now, the real estate asset class. These ETFs also help investors avoid the types of over-levered entities that may be particularly susceptible to volatile performance during a market downturn.

The  SP Funds S&P Global REIT Sharia ETF (ticker: SPRE), which launched on the New York Stock Exchange on December 30, tracks the S&P Global Shariah All REIT Capped Index which is designed to measure all Sharia-compliant constituents of the S&P Global REIT Index, a comprehensive benchmark of publicly traded equity REITs listed in both developed and emerging markets.

“The SP Funds S&P Global REIT Sharia ETF has joined our family of ETFs which are designed not only for investors who might be looking for Halal exposure, but for any investor who is seeking a value-focused portfolio as well as those who seek to avoid over-levered enterprises,” said Naushad Virji, CEO of SP Funds.

“Real Estate has always been a preferred asset class for value investors. This Sharia-compliant REIT ETF will certainly be welcomed especially given its stability and performance in turbulent market conditions,” added Naushad Virji.

SPRE is based on the S&P Global Shariah All REIT Capped Index. The index follows Sharia-compliance parameters based on the S&P Shariah Supervisory Board.  The fund avoids REITs that cater to industries like alcohol, tobacco, pork-related products, conventional financial services (banking, insurance, etc.), weapons and defense, entertainment (hotels, casinos/gambling, cinema, pornography, music, etc.) and companies engaged in interest-based financial services.

Financials are considered eligible if the company is incorporated as an Islamic Financial Institution, such as Islamic banks and Takaful insurance companies. Further, income from impure sources as included in the industries above cannot exceed 5% of revenue. After removing REITs with unacceptable primary business activities, the remaining REITs are evaluated according to several financial ratio filters. The filters are based on criteria determined by Sharia excluding the REITs having a total debt divided by average market capitalization, and accounts receivables divided by average market capitalization of more than 30%.

Non-sharia components also include interest-based financial transactions used by REITs, such as conventional loans, undertaken for new property acquisitions.

The SPRE ETF has strong ESG characteristics like carbon intensity per value invested (Million tons Carbon e/1 million $ invested) at only 11.21.

SPRE has an expense ratio of 0.69%.  SP Funds partnered with the team at Tidal ETF Services to bring its funds to market.

The SPRE launch coincided with the first anniversary of SP Funds initial family of ETFs whose performance lived up to expectations despite the COVID-19 global pandemic. The initial ETFs were the SP Funds Dow Jones Global Sukuk ETF (ticker: SPSK) the world’s first Sukuk ETF; and the SP Funds S&P 500 Sharia Industry Exclusions ETF (ticker: SPUS), which tracks the performance of around 200 Sharia-compliant stocks from the S&P 500 Index.

Additional information can be found at sp-funds.com.

# # #

About SP Funds

SP Funds is dedicated to offering an ethical approach to investing that avoids companies with significant debt. By adhering to AAOIFI guidelines, SP Funds ensures that the securities in its ETFs avoid investments in businesses such as tobacco, pornography, gambling and interest-based finance. This results in a collection of socially responsible investments that are in well capitalized companies. For more information, visit sp-funds.com.

About Tidal ETF Services

Formed by ETF industry pioneers and thought leaders, Tidal sets out to disrupt the way ETFs have historically been developed, launched, marketed and sold. With a transparent, partnership approach, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. As advocates for ETF innovation, Tidal helps institutions and organizations launch the most interesting and viable ETFs available today. For more information, visit tidaletfservices.com.

Before investing you should carefully consider each Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting sp-funds.com or calling (425)409-9500. Please read the prospectus carefully before you invest.

As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV.

The Funds are new with a limited operating history.

Islamic religious law commonly known as Sharia has certain restrictions regarding finance and commercial activities permitted for Muslims, including interest restrictions and prohibited industries, which reduces the size of the overall universe in which the Fund can invest. The strategy to reduce the investable universe may limit investment opportunities and adversely affect the Fund’s performance, especially in comparison to a more diversified fund.

A real estate investment trust (REIT) is a security of a company that invests in real estate, either through real estate property, mortgages and similar real estate investments, or all of the foregoing. The Fund is expected to be concentrated in REITs. Through its investments in REITs, the Fund is subject to the risks of investing in the real estate market, including decreases in property revenues, increases in interest rates, increases in property taxes and operating expenses, legal and regulatory changes, a lack of credit or capital, defaults by borrowers or tenants, environmental problems and natural disasters.

It is not possible to invest directly in an index. Investments in emerging markets may be more volatile and less liquid than more developed markets and therefore may involve greater risks.

Diversification does not ensure a profit or protect against loss in declining markets.

Shares of the Fund are distributed by Foreside Fund Services, LLC.

Media Contact:

Salaudeen Nausrudeen
[email protected]
917-962-7828