UPDATE - InvestmentPitch Media Video Discusses Pascal Biosciences and its Non-Brokered Private Placement to Raise up to $900,000 with $0.10 Units – Video Available on Investmentpitch.com

Rhea-AI Summary

Pascal Biosciences (OTCPink:PSCBF) has announced a non-brokered private placement aiming to raise up to $900,000 by issuing 9 million units at $0.10 each. Each unit includes one share and one warrant, exerciseable at $0.15 for 24 months. The funds will be utilized for the development of PAS-403 and PAS-393 cancer therapies and for general working capital. The company recently received a $321,406 R21 grant from the National Cancer Institute for leukemia research. Rob Gietl has been appointed as the new CEO, succeeding Dr. Patrick Gray, who now serves as Chairman.

Positive

• Planned private placement could raise up to $900,000 for further development.
• Recent NIH grant of $321,406 supports leukemia research, enhancing financial stability.
• Appointment of Rob Gietl as CEO may strengthen management and operational effectiveness.

Negative

• None.

VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Pascal Biosciences (TSXV:PAS) (OTCPink:PSCBF) (FSE:6PB), a biotechnology company targeting innovative therapies for serious diseases, has announced a non-brokered private placement. The company is looking to raise gross proceeds of up to $900,000 from the placement of up to 9 million units priced at $0.10 per unit, with each unit consisting of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 24 months, subject to an acceleration clause.

Net proceeds will be used to continue the development of the company’s PAS-403 and PAS-393 patented molecules for development of cancer therapeutics prior to commencing clinical trials and for general working capital.

For more information, please view the InvestmentPitch Media “video” which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Pascal” in the search box. To view on YouTube, please “click here”.

Pascal is advancing innovative therapies for serious diseases. PAS-403, a cannabinoid-based product, is undergoing development for the treatment of glioblastoma and brain metastases originating from other cancers. According to the National Brain Tumor Society, glioblastoma strikes about 15,000 patients each year in North America with a median survival rate of 12 to 17 months

PAS-393, an immunostimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy to treat multiple cancers, is being developed collaboratively with SoRSE Technology. Checkpoint inhibitors are recently approved drugs that activate the immune system to kill tumor cells. PAS-393 also shows promise for treating COVID-19.

In 2021, Pascal was awarded an R21 grant of $321,406 from the National Cancer Institute of the US National Institutes of Health. The award acknowledges the potential of Pascal’s novel leukemia antibodies and the research plans detailed in the grant application titled “Eliminating B Cell Precursor Acute Lymphoblastic Leukemia by Targeting the Uniquely Specific Pre-B Cell Receptor”. The grant covers both research and administrative costs for the program over a period of two years, funding experiments to validate a lead pre-BCR antibody-drug conjugate for advancement into clinical development.

More than 6000 patients are diagnosed with Acute Lymphoblastic Leukemia each year in the US and Canada, with about half of these patients being children, which makes this leukemia the most common type of childhood leukemia.

Rob Gietl was recently appointed President and CEO, taking over from Dr. Patrick Gray who became Chairman. Mr. Gietl has extensive experience leading several public companies in Canada, with an excellent record of effectively executing business plans, creating successful partnerships, and leveraging financial resources.

Rob Gietl, President and CEO, stated: "Pascal is a dynamic company on the verge of attaining fantastic milestones in the biotechnology industry, and I'm excited to provide the direction to reach these goals. Pascal already has a corporate partnership with SoRSE Technology for their PAS-393 program, and an NIH grant for their leukemia program. We will grow Pascal in a manner most valuable to shareholders, and we expect to be a premier force in the biotechnology industry."

Dr. Patrick Gray, Chairman, added: "Rob's exceptional background in operations and raising capital perfectly complements Pascal's super research and development capabilities."

For more information, please visit the company’s website at www.PascalBiosciences.com, contact Rob Gietl, President and CEO, at 206-221-3443 or by email at invest@PascalBiosciences.com.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

FAQ

What is Pascal Biosciences' recent funding announcement?

Pascal Biosciences announced a non-brokered private placement to raise up to $900,000 by issuing 9 million units at $0.10 each, with proceeds directed towards cancer therapy development.

What are the uses of proceeds from Pascal's private placement?

Proceeds from the placement will be used for the development of PAS-403 and PAS-393 cancer therapies and for general working capital.

Who is the new CEO of Pascal Biosciences?

Rob Gietl has been appointed as the new President and CEO of Pascal Biosciences, succeeding Dr. Patrick Gray.

What grant did Pascal Biosciences recently receive?

Pascal Biosciences received a $321,406 R21 grant from the National Cancer Institute for research on leukemia antibodies.

What are PAS-403 and PAS-393 being developed for?

PAS-403 is a cannabinoid-based product targeting glioblastoma, while PAS-393 is an immunostimulatory cannabinoid for treating multiple cancers.