Soricimed Continues Critical Research Thanks to Support from the Government of Canada

MONCTON, NB / ACCESSWIRE / September 29, 2020 / Soricimed Biopharma Inc. ("Soricimed" or "the Company"), a clinical-stage company developing first-in-class, targeted cancer therapeutics, today announced that it is inching closer to commercializing its research. Funding from the Atlantic Canada Opportunities Agency (ACOA) enabled Soricimed to persevere through the challenges brought on by the COVID-19 pandemic.

The Government of Canada, through ACOA's Regional Relief and Recovery Fund (RRRF), has provided a repayable contribution of $500,000 to Soricimed Biopharma Inc. so it can continue its research and development work during these unprecedented times.

"Canada's COVID-19 Economic Response Plan has helped to protect millions of jobs, provide emergency support to families, and keep businesses afloat throughout the pandemic," said the Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton-Riverview-Dieppe, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA."Strong local economies rely upon the prosperity and growth of their businesses and entrepreneurs. In these uncertain times, we want Canadian businesses to know that we have their backs. I am proud that the Government of Canada is helping Soricimed Biopharma further its vision, build on its successes, and take advantage of new opportunities. This company plays a pivotal role in our region's growing bioscience sector and biotech community."

"We at Soricimed Biopharma are very grateful for the support we are receiving from ACOA during these challenging times," commented Robert Bruce, CEO of Soricimed Biopharma. "This funding enables us, a New Brunswick organization, to continue to move our world-class science closer to commercialization and pursue emerging opportunities. We are proud to champion the strengths of Atlantic Canada as we work globally, such as what we are currently doing with the investigator-initiated human clinical trial of our lead drug candidate, SOR-C13 at the MD Anderson Cancer Center in Houston, Texas."

About Soricimed Biopharma Inc.: Soricimed is a privately-held, science-based company focused on the development and commercialization of applications originally derived from its unique and proprietary family of peptides found in the paralytic venom of the northern short-tailed shrew. Product development is ongoing for three distinct verticals: as targeted drug candidates for the treatment of solid-tumor cancers; as an environmentally responsible pesticide for the agriculture and aquaculture sectors; and as novel active ingredients in skin-care products for the cosmetic industry. For more information visit www.soricimed.com.

About ACOA: ACOA creates opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive, by working with communities to develop and diversify their economies, and by championing the strengths of Atlantic Canada. For more information visit ACOA online.

Media Relations Soricimed Biopharma:

Julie A. Fotheringham
Partner, HAGEMAN Communications
Julie.fotheringham@hageman.ca
416.951.7988

Investor Relations Soricimed Biopharma:

Stephen Kilmer
President, Kilmer Lucas Inc.
stephen@kilmerlucas.com
646.274.3580

The Atlantic Canada Opportunities Agency:

Paul CJ LeBlanc
Senior Communications Officer
paulcj.leblanc@canada.ca
506.452.3310

SOURCE: Soricimed Biopharma

ReleaseID: 608062