0001279569-13-001348.txt : 20131008 0001279569-13-001348.hdr.sgml : 20131008 20131007173712 ACCESSION NUMBER: 0001279569-13-001348 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20131007 FILED AS OF DATE: 20131008 DATE AS OF CHANGE: 20131007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LORUS THERAPEUTICS INC CENTRAL INDEX KEY: 0000882361 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 000000000 FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32001 FILM NUMBER: 131139879 BUSINESS ADDRESS: STREET 1: 2 MERIDIAN ROAD STREET 2: . CITY: TORONTO STATE: A6 ZIP: M9W 4Z7 MAIL ADDRESS: STREET 1: 2 MERIDIAN ROAD CITY: TORONTO STATE: A6 ZIP: M9W 4Z7 FORMER COMPANY: FORMER CONFORMED NAME: IMUTEC PHARMA INC DATE OF NAME CHANGE: 19970113 FORMER COMPANY: FORMER CONFORMED NAME: IMUTEC CORP DATE OF NAME CHANGE: 19950726 FORMER COMPANY: FORMER CONFORMED NAME: RML MEDICAL LABORATORIES INC DATE OF NAME CHANGE: 19920921 6-K 1 lorus6k.htm

 

 

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Report of Foreign Issuer

 

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

For the Month of October, 2013

 

Commission File Number 1-32001

 

Lorus Therapeutics Inc.

 

(Translation of registrant’s name into English)

 

 

2 Meridian Road, Toronto, Ontario M9W 4Z7


(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x     Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

 

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

 

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes ¨     No x

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82-_______________.

  

 

 

 

 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of  1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Lorus Therapeutics Inc. 
   
   
Date: October 7, 2013 By:  /s/ “Elizabeth Williams”
    Elizabeth Williams
    Director of Finance and Controller

 

 

 

 
 

EXHIBIT INDEX

 

99.1 News Release Dated April 17, 2013 - Lorus Therapeutics Signs Research and License Option Agreement with Elanco
99.2 News Release Dated June 26, 2013 - Lorus therapeutics appoints dr. Brad thompson, an experienced biotechnology professional, to the board of directors
99.3 News Release Dated July 9, 2013 - Lorus Therapeutics Announces Promising Clinical Results for Anticancer Drug LOR-253
99.4 News Release Dated July 15, 2013 - Lorus Therapeutics Reports Results for Fiscal Year 2013
99.5 News Release Dated September 12, 2013 - Lorus Therapeutics board of directors announces review of strategic alternatives
99.6 News Release Dated October 1, 2013 - Lorus Therapeutics Announces Presentation of its Phase I Clinical Trial of LOR-253 at the European Cancer Congress

 

 

EX-99.1 2 ex991.htm PRESS RELEASE DATED SEPTEMBER 12, 2013

Exhibit 99.1

NEWS RELEASE

 

  

Lorus Therapeutics Signs Research and License Option Agreement with Elanco


- Provides for Development and Commercialization of Selected Compounds

 

TORONTO, CANADA, April 17, 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus”), a biopharmaceutical company specializing in the discovery, research and development of pharmaceutical products announced today that it has entered into a research and license option agreement with Elanco, the animal health division of Eli Lilly and Company, to investigate some of Lorus’ compounds for veterinary medicine. According to the agreement, Elanco will fund the research program and has been granted an exclusive option to license the worldwide rights for selected compounds for veterinary use; the terms of which will be negotiated when the option is exercised by Elanco. Lorus retains the rights to develop and commercialize these compounds for human use. No further details of the deal were disclosed.

 

“We are excited about this partnership with Elanco, a global leader in veterinary medicine, and look forward to advancing these compounds in veterinary medicine,” said Dr. Aiping Young, President and CEO of Lorus. “The support of Elanco enables us to accelerate the development of this promising program with the ultimate goal of bringing a drug from this program to the veterinary market in the shortest possible timeframe.”

 

 

About Lorus

Lorus is a biopharmaceutical company focused on the discovery, research and development of novel therapeutics in cancer. The Company also has expertise in antimicrobial drug discovery. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR. More information is available at www.lorusthera.com.

 

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: our ability to fund future research, our research program plans, our ability to continue as a going concern, our ability to maintain partnerships on an ongoing basis, the potential of this research program for treatment in humans or animals, our ability to accelerate development of this program, the probability that this program will ever be commercialized or that it will constitute a new or improved treatment, the current or future market size of the veterinary care and oncology markets and anticipated growth, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “believe”, “plan”, “expect”, “intend”, “will”, “should”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others: our ability to continue as a going concern, our ability to obtain the capital required for research and operations, the inherent risks in early stage drug development including demonstrating efficacy, development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our Annual Information Form underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through the Company’s website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

 

Enquiries:

 

For further information, please contact:

 

Lorus Therapeutics Inc.

Grace Tse

416-798-1200 ext. 380; ir@lorusthera.com

 

The Trout Group

Lee M. Stern

646-378-2922

 

 

 

 

EX-99.2 3 ex992.htm PRESS RELEASE DATED OCTOBER 1, 2013

Exhibit 99.2

NEWS RELEASE

 

 

Lorus Therapeutics APPOINTS Dr. BRAD THOMPSON, an experienced biotechnology professional, TO THE BOARD OF DIRECTORS

 

TORONTO, ONTARIO – June 26, 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus” or the “Corporation”), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced that Dr. Brad Thompson has been appointed to the Board of Directors of Lorus.

 

Dr. Thompson is an experienced and respected biotechnology professional who has held the positions of Chairman of the Board and President and Chief Executive Officer of Oncolytics Biotech Inc. since April 1999. Prior to his role with Oncolytics Dr. Thompson was the Chief Executive Officer of Synsorb Biotech from 1994 to 1999. Dr. Thompson is also currently a board member of Immunovaccine Inc. He received his PhD from the University of Western Ontario in the Department of Microbiology and Immunology.

 

“We are delighted that Dr. Thompson is joining our Board,” said Dr. Jim Wright, Chairman of the Board of Directors of Lorus. “We believe that Brad’s depth of experience and success in developing and financing biotechnology companies will be a significant asset to Lorus and we look forward to benefiting from his expertise.”

 

“I am very pleased to be joining the Lorus Board of Directors and contributing to the company’s future success in developing new drugs for the treatment of cancer,” Dr. Thompson commented.

 

About Lorus

Lorus is a biopharmaceutical company focused on the research and development of novel therapeutics in cancer. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR.

 

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: the ability of the company to continue as a going concern, the ability to find future financing, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such expressed or implied forward-looking statements could include, among others: our ability to continue to operate as a going concern; our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through its website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

For further information, please contact:

 

Lorus Therapeutics Inc.

Elizabeth Williams, Director of Finance, 1-416-798-1200 ext. 372

ewilliams@lorusthera.com

 

The Trout Group

Lee M. Stern

646-378-2922

 

EX-99.3 4 ex993.htm PRESS RELEASE DATED JUNE 26, 2013

Exhibit 99.3

NEWS RELEASE

 

 

Lorus Therapeutics Announces Promising Clinical Results for Anticancer Drug LOR-253

 

TORONTO, CANADA, July 9, 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus”), a biopharmaceutical company specializing in the discovery, research and development of pharmaceutical products and technologies for the management of cancer, today announced the results of the Phase 1 clinical trial of the novel agent, LOR-253. In this first-in-man, dose-escalation clinical study, LOR-253 demonstrated an excellent safety profile as well as encouraging signs of antitumor activity.

 

The design consisted of LOR-253 as a single agent in patients with advanced solid tumors resistant to multiple standard therapies. The study enrolled 27 patients, all of whom had previously failed a median of 4 prior chemotherapies. Although this was primarily a dose-escalation safety study, efficacy and pharmacokinetics were also explored.

 

The clinical trial enrolled patients at 7 dose levels ranging from 20 to 229 mg/m2. Of the 27 patients enrolled, 17 were evaluable for efficacy. Of these 17 patients, 7 (41%) achieved stable disease by RECIST and this included patients with colorectal, lung, appendiceal, liver and uterine cancers. Dose related activity was demonstrated at the higher dose levels (176 and 229 mg/m2). At these two highest dose levels, 4 of 5 evaluable patients (80%) achieved sustained stable disease by RECIST ranging from 5.6 months to 8 months, representative of disease control. Of these, a patient with non-small cell lung cancer at the highest dose level additionally showed non-index tumor shrinkage.

 

The safety assessment indicated that LOR-253 was well tolerated at all dose levels. The dose escalation was not limited by toxicity. The most common adverse event was Grade 1 or 2 fatigue seen in 3 patients. There was one Grade 3 toxicity, asymptomatic low blood phosphate level that was reversible by supplementation. The pharmacokinetic profile was consistent with the predictive profile seen preclinically, and the elimination profile and half-life in patients were suggestive of a very rapid distribution phase and prolonged retention.

 

“We are very encouraged by the results of this Phase 1 dose-escalation study, which demonstrate that LOR-253 is well tolerated without dose limiting toxicity at even the highest levels. More importantly, at higher doses we saw promising dose-related antitumor activity clearly attributable to the drug.” said Dr. Aiping Young, Lorus’ President and CEO. “Safety and pharmacokinetic data suggest the additional opportunity for more frequent dosing of LOR-253 and by combining with other agents we expect to demonstrate even greater antitumor activity in a larger follow-up Phase 2 clinical study.”

 

Based on clinical benefits observed in this clinical trial together with the synergistic effects of LOR-253 in combination with docetaxel in preclinical non-small cell lung cancer studies, and the potential for no overlapping toxicities between LOR-253 and docetaxel, Lorus is designing a follow-up Phase 2 clinical trial of this regimen in patients with non-small cell lung cancer as the first indication for further development.

 

About LOR-253

LOR-253 represents a new class of anticancer agent that has shown selective and potent antitumor activity in preclinical investigations with a variety of human cancers, including colon cancer and non-small cell lung cancer, and has demonstrated an excellent therapeutic window due to its low toxicity. LOR-253 is a first-in-class small molecule that has been optimized to induce the novel tumor suppressor Krüppel-like factor 4 (KLF4), leading to cancer cell cycle arrest and apoptosis as well as inhibition of metastasis.

 

About Lorus

Lorus is a biopharmaceutical company focused on the discovery, research and development of novel therapeutics in cancer. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. The Company also has expertise in antimicrobial drug discovery. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR.

 

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: our research program plans, our plans to conduct clinical trials, the successful and timely completion of clinical studies and the regulatory approval process, our ability to continue as a going concern, our ability to fund future research, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “believe”, “plan”, “expect”, “intend”, “will”, “should”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others: our ability to continue as a going concern, our ability to obtain the capital required for research and operations, the inherent risks in early stage drug development including demonstrating efficacy, development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our Annual Information Form underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through the Company’s website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

 

Enquiries:

 

For further information, please contact:

 

Lorus

Grace Tse, 416-798-1200 ext. 380;

ir@lorusthera.com

 

The Trout Group

Lee M. Stern

646-378-2922

 

 

 

EX-99.4 5 ex994.htm PRESS RELEASE DATED JULY 15, 2013

Exhibit 99.4

NEWS RELEASE

 

 

Lorus Therapeutics Reports Results for Fiscal Year 2013

 

TORONTO, CANADA July 15 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus” or the “Company”) a biopharmaceutical company specializing in the discovery, research and development of pharmaceutical products and technologies for the management of cancer, today reported financial results for the twelve months ended May 31, 2013. Unless specified otherwise, all amounts are in Canadian dollars.

 

2013 TO DATE SELECTED HIGHLIGHTS

 

Corporate Highlights

 

·In June 2012 the Company completed a private placement whereby Lorus issued 20,625,000 units consisting of one common share and one common share purchase warrant at a price of $0.32 for gross proceeds of $6.6 million.
·Subsequent to year end, in June 2013 the Company completed a private placement of promissory notes and warrants raising proceeds of $893 thousand.
·In June and July 2012 the Company received proceeds of $180 thousand on the exercise of 398 thousand warrants related to the August 2011 financing.

 

Drug Development Highlights

 

ØLOR-253 Program:
·Subsequent to year end in July 2013 Lorus announced the results of the Phase 1 clinical trial of Lorus’ lead small molecule drug LOR-253. In this first-in-man, dose-escalation clinical study, LOR-253 demonstrated an excellent safety profile as well as encouraging signs of antitumor activity. The design consisted of LOR-253 as a single agent in patients with advanced solid tumors resistant to multiple standard therapies. The clinical study enrolled 27 patients, all of which had failed a median of 4 prior chemotherapies. Patients were enrolled at 7 dose levels ranging from 20 to 229 mg/m2. Of the 27 patients enrolled, 17 were evaluable for efficacy. Of these 17 patients, 7 (41%) achieved stable disease by RECIST and this included patients with colorectal, lung, appendiceal, liver and uterine cancers. Dose related activity was demonstrated at the higher dose levels (176 and 229 mg/m2). At these two highest dose levels, 4 of 5 evaluable patients (80%) achieved sustained stable disease by RECIST ranging from 5.6 months to 8 months, representative of disease control. Of these, a patient with non-small cell lung cancer at the highest dose level additionally showed non-index tumor shrinkage. The safety assessment indicated that LOR-253 was well tolerated at all dose levels.
·Presented novel biomarker data for LOR-253 at the 2013 Annual Meeting of the American Association for Cancer Research (AACR), held in Washington, DC from April 6 – 10, 2013. The preclinical studies show that LOR-253 has a significant dose response antitumor effect that is associated with a dose dependent increase of the tumor suppressor Krüppel-like Factor 4 (KLF4) in animal models of human non-small cell lung cancer.
·Announced the allowance of a patent for LOR-253 in China which provides composition of matter protection for LOR-253 and for use in the manufacture of therapies for the treatment of cancer.

 

ØIL-17E
·Announced the co-development of the novel immunotherapy drug, IL-17E with Cancer Research UK, which will undertake extensive preclinical studies, including non-clinical toxicology studies, led by a team of experts to further investigate the mechanism by which IL-17E destroys cancer cells, and upon the satisfactory completion of the preclinical program, to further develop the drug through a Phase 1 trial for use in treating cancer patients.
·Presented new data to support the development of IL-17E at the 2012 American Association for Cancer Research (AACR) Tumor Immunology: Multidisciplinary Science Driving Basic and Clinical Advances Conference. The preclinical studies show that IL-17E significantly inhibits the growth of colon and melanoma cancers in animal models, with no apparent signs of toxicity.
·Announced the allowance of patents by the United States Patent and Trademark Office for IL-17E.
·Announced that the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) has awarded funding in the form of a $50,000 non-refundable contribution to Lorus to support development of IL-17E for cancer therapy.

 

ØOther Small Molecule Programs:
·Entered into a research and license option agreement with Elanco, the animal health division of Eli Lilly and Company, to investigate some of Lorus’ compounds for veterinary use. According to the agreement, Elanco will fund the research program and has been granted an exclusive option to license the worldwide rights for selected compounds for veterinary use; the terms of which will be negotiated if Elanco exercises the option. Lorus retains the rights to develop and commercialize these compounds for human use.
·Accelerated activities on the novel MELK inhibitor program, LOR-500, with lead optimization is underway.

 

“We were pleased with the progress we have made on our various programs this past year despite facing challenging financial and economic conditions. Our LOR-253 Phase 1 clinical trial reported exciting data which we hope to build on in a subsequent Phase 2 clinical program, and we entered into promising collaborations, with Cancer Research UK and Elanco, both world-leading and highly respected organizations,” said Dr. Aiping Young, President and CEO of Lorus. “We look forward to leveraging this momentum and the progress we have made this fiscal year to secure future partnerships and financings and provide sufficient resources to achieve some important development milestones for all our exciting programs.

 

FINANCIAL RESULTS

 

Net loss and comprehensive loss for the year ended May 31, 2013 increased to $5.6 million ($0.13 per share) compared to $4.6 million ($0.23 per share) for the year ended May 31, 2012. The increase in net loss and other comprehensive loss for the year ended May 31, 2013 compared with the prior year is due primarily to increased research and development costs of $1.1 million resulting from increased activity on the LOR-500 and IL-17E programs as well as the need to manufacture additional quantities of LOR-253 in order to complete the ongoing clinical work.

 

At May 31, 2013 Lorus had cash and cash equivalents of $653 thousand compared to $320 thousand at May 31, 2012. Subsequent to year-end we completed a private placement raising gross proceeds of $893 thousand.

 

Management has forecasted that the Company’s current level of cash and cash equivalents, including the $893 thousand investment described above, will not be sufficient to execute its current planned expenditures for the next twelve months without further investment. The Company is in discussion with several potential parties to secure additional funding by way of equity investment, license payments or other non-diluting financing. Management believes that it will complete one or more of these arrangements in sufficient time to continue to execute its planned expenditures without interruption. However, there can be no assurance that the funding will be available as necessary to meet these continuing expenditures, or if the funding is available, that it will be on terms acceptable to the Corporation.

 

 


For further details and to view the Company's May 31, 2013 Audited Consolidated Financial Statements and Management's Discussion and Analysis, please see the Company's filings which will be available on www.sedar.com and on www.lorusthera.com

 
 

 

Lorus Therapeutics Inc.        
Consolidated Statements of Loss and Comprehensive Loss        

(amounts in 000's of Canadian dollars, except for per common share data)

 

Years ended May 31, 2013 and 2012

     
      2013 2012
REVENUE     $         ― $         ―
         
EXPENSES        
Research and development     3,317 2,170
General and administrative     2,272 2,430
Operating expenses     5,589 4,600
Finance expense     6 20
Finance income     (30) (6)
Net finance expense (income)     (24) 14
Net loss and total comprehensive loss for the year     5,565 4,614
Basic and diluted loss per common share     $     0.13 $     0.23
Weighted average number of common shares        
      outstanding used in the calculation of:        
      Basic and diluted loss per share     42,251 20,260

 

About Lorus

Lorus is a biopharmaceutical company focused on the discovery, research and development of novel therapeutics in cancer. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. Through its own discovery efforts and an acquisition and in-licensing program, Lorus is building a portfolio of promising anticancer drugs. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR.

 

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: our ability to obtain financing or partnerships, the establishment of corporate alliances, our ability to maintain current and future corporate alliances, our ability to fund or reach developmental milestones, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such expressed or implied forward looking statements could include, among others: our ability to continue to operate as a going concern; our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through its website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

For further information, please contact:

 

Elizabeth Williams, 416-798-1200 ext. 372; ewilliams@lorusthera.com

 

 

EX-99.5 6 ex995.htm PRESS RELEASE DATED APRIL 17, 2013

Exhibit 99.5  

                                        

  NEWS RELEASE

 

 

 

Lorus Therapeutics board of directors announces review of strategic alternatives

 

TORONTO, ONTARIO – September 12, 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus” or the “Company”), a biopharmaceutical company specializing in the research and development of pharmaceutical products and technologies for the management of cancer, today announced that the Company's Board of Directors has formed a Special Committee composed of independent directors to review strategic alternatives available to the Company. This review is designed to secure the long-term financial and operational sustainability of Lorus with a view to enhancing shareholder value.

 

The Special Committee is composed of Dr. Denis Burger, Mr. Warren Whitehead, and Dr. Jim Wright. The Committee has retained Deloitte as its financial advisor to assist in its evaluation, and McCarthy Tétrault LLP is serving as legal advisor to the Company and the Special Committee.

 

Lorus has been approached by several parties and has a number of options under review. The Board of Directors believes that it is prudent to carefully evaluate the strategic alternatives available to the Company and to determine the best path forward for unlocking the value of Lorus’ assets. These alternatives could include, among others, merger, sale, strategic partnerships or alliances.

 

In spite of challenging conditions for biotechnology companies in Canada over the past number of years, Lorus has been successful in consistently raising funds to allow it to continue advancing the research and development of its product candidates. Notably Lorus has an oncology product that has successfully completed a Phase I clinical trial with plans to move into a Phase II clinical study. Another oncology product is in preclinical development in preparation for clinical studies, and a third is at an advanced research stage.

 

The Company has not established a definitive timeline to complete its review and there can be no assurance that this review process will result in any transaction. The Company does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes the review of strategic alternatives or determines that disclosure is required or appropriate.

 

About Lorus

Lorus is a biopharmaceutical company focused on the research and development of novel therapeutics in cancer. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR.

 

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: the ability of the company to continue as a going concern, the ability to find future financing, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such risks and uncertainties could include, among others: our ability to continue to operate as a going concern; our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through its website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

For further information, please contact:

 

Lorus Therapeutics Inc.

Elizabeth Williams, Director of Finance, 1-416-798-1200 ext. 372

ewilliams@lorusthera.com

 

EX-99.6 7 ex996.htm PRESS RELEASE DATED JULY 9, 2013

Exhibit 99.6

NEWS RELEASE

 

 

 

Lorus Therapeutics Announces Presentation of its Phase I
Clinical Trial of LOR-253 at the European Cancer Congress

 

TORONTO, CANADA, October 1, 2013 – Lorus Therapeutics Inc. (TSX: LOR) (“Lorus”), a biopharmaceutical company specializing in the discovery, research and development of pharmaceutical products and technologies for the management of cancer, today announced presentation of a poster (#864) entitled “OPEN-LABEL, PHASE 1 STUDY OF LOR-253 HCl IN PATIENTS WITH ADVANCED OR METASTATIC SOLID TUMORS” at the European Cancer Congress annual meeting, held September 27-October 1, 2013 in Amsterdam, Netherlands. This was a dose-escalation study in patients with solid tumors for which no effective therapy was available or that were unresponsive to conventional therapy.

 

Key finding from the poster presentation:

• No significant toxicities were observed at the target dose level of 229 mg/m2.

 

Pharmacokinetic data demonstrated a rapid distribution phase and prolonged terminal phase >144 hours.

 

Antitumor activity associated with the target dose showed sustained stable disease (SD) determined by RECIST that was confirmed over 4 to 8 cycles. SD was observed in 80% (4/5) of evaluable patients at the 176 to 229 mg/m2 doses, and all still had SD by RECIST on termination.

 

Activity in non-small cell lung cancer was reported in a patient with heavily metastasized bronchogenic adenocarcinoma treated for 8 cycles at the 229 mg/m2 target dose. The lung metastases were increasing in size in the 2½ months prior to the study. However on the study index tumors by RECIST were stable for 8 months with a decrease of 14% observed. Most non-index tumors decreased in size and some resolved or were non-detectable following treatment.

 

Dose limiting toxicities were seen only at a maximum administered dose of 387 mg/m2, confirming the safety margin of the drug.

 

“We are delighted to have the findings of this important and promising study presented to the wider scientific community at the prestigious European Cancer Congress”, said Lorus CEO Dr Aiping Young, “The favorable safety, prolonged pharmacokinetic levels, and dose-related clinical activity as a single agent, in these patients with highly progressed end-stage cancers all support clinical development of LOR-253, for example in combination with docetaxel in non-small cell lung cancer.”

 

About LOR-253

LOR-253 represents a new class of anticancer agent, which we believe may offer a competitive advantage over conventional drugs. This drug candidate has shown selective and potent antitumor activity in preclinical investigations with a variety of human cancers, including colon cancer and non-small cell lung cancer, and has demonstrated an excellent therapeutic window due to its low toxicity. LOR-253 is a first-in-class small molecule that has been optimized to induce the novel tumor suppressor Krüppel-like factor 4 (KLF4), leading to cancer cell cycle arrest and apoptosis as well as inhibition of metastasis. Lorus has announced clinical findings with LOR-253 in two previous news releases, January 7, 2013 and July 9, 2013, which are available on Lorus’ website.

 

About Lorus

Lorus is a biopharmaceutical company focused on the discovery, research and development of novel therapeutics in cancer. Lorus’ goal is to capitalize on its research, preclinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination with other drugs, to successfully manage cancer. The Company also has expertise in antimicrobial drug discovery. Lorus Therapeutics Inc. is listed on the Toronto Stock Exchange under the symbol LOR.

 

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Canadian and U.S. securities laws. Such statements include, but are not limited to, statements relating to: our research program plans, our plans to conduct clinical trials, , our ability to continue as a going concern, our ability to fund future research, the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “believe”, “plan”, “expect”, “intend”, “will”, “should”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others: our ability to continue as a going concern, our ability to obtain the capital required for research and operations, the inherent risks in early stage drug development including demonstrating efficacy, development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market conditions; and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.

 

Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our Annual Information Form underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

 

Lorus Therapeutics Inc.’s recent press releases are available through the Company’s website at www.lorusthera.com. For Lorus' regulatory filings on SEDAR, please go to www.Sedar.com.

 

Enquiries:

 

For further information, please contact:

 

Lorus

Grace Tse, 416-798-1200 ext. 380;

ir@lorusthera.com

 

 

 

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