STX PARTNERS LLP and Newlin Investment Co. Exercise Warrants of Sharp Therapeutics Corp.
April 21, 2025 5:05 PM EDT | Source: Sharp Therapeutics Corp.
Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - April 21, 2025) - Sharp Therapeutics Corp. (TSXV: SHRX) ("Sharp" or the "Company"), a pre-clinical-stage biotechnology company developing small molecule therapies to treat hereditary disorders, is pleased to announce that STX PARTNERS LLP ("STX") and Newlin Investment Company ("NIC") have each exercised their respective common share purchase warrants of the Company (the "Warrants") for aggregate gross proceeds to the Company of US$2.5M.
The Warrants were issued pursuant to the Common Stock Purchase Agreement entered into by the Company, STX, NIC and certain other investors on October 18, 2024 (the "CSPA"). STX and NIC have each exercised their Warrant in its entirety, purchasing common shares of the company at the same share price as in the CSPA in an amount totaling US$2.5M.
Scott Sneddon, Sharp's Chief Executive Officer, stated: "This further investment speeds our path to the clinic for our current lead programs." STX's Managing Director and Sharp board member John Hathaway added: "This shows our ongoing commitment to building Sharp into a global therapeutics company. Driving these next few milestones is key to that." William R. Newlin, NIC chairman and Sharp board chairman added: "We believe we have the right team in place and our strategy is steadily increase company value on our way to releasing key clinical data for our programs."
About Sharp Therapeutics Corp.
First-Choice Therapies for Hereditary Disorders
Sharp Therapeutics is a pre-clinical stage company developing first-choice small-molecule therapeutics for hereditary disorders. The Company's discovery platform combines novel high throughput screening technologies, with compound libraries computational optimized based on the physics and biology of cellular trafficking defects and allosteric activation of proteins. The platform produces small molecule compounds that restore activity in mutated proteins giving the potential to treat genetic disorders with conventional pill-based medicines.
For additional information on Sharp, please visit: www.sharptx.com.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Sharp's current views and intentions with respect to future events, and current information available to Sharp, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Sharp in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Sharp does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Sharp undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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