2021-08-03 17:38 ET – News Release

 

Mr. J. Roderick (Rod) Matheson reports

MARVEL BIOSCIENCES CORP. RETAINS VIRTUS ADVISORY GROUP TO PROVIDE CORPORATE COMMUNICATIONS SERVICES

Marvel Biosciences Corp. has retained Virtus Advisory Group Inc. to develop and implement a strategic corporate communications program to increase the company’s exposure among industry stakeholders and investors across Canada.

In connection with the engagement, Virtus has been awarded a consulting contract that includes a monthly fee of $7,000 and a grant of incentive stock options, which will vest in equal instalments over a 12-month period, to acquire 400,000 common shares of the company, exercisable at a price of 40 cents per share for a period of five years from date of grant. The 400,000 incentive stock options are subject to board of director approval, regulatory approval and policies as applicable by the TSX Venture Exchange, and may only vest and be exercised after disinterested shareholder approval of the company’s stock option plan at the next shareholders meeting held by the company.

About Virtus Advisory Group

Virtus is a Toronto-based consulting firm, providing select private and publicly listed companies with business consulting, capital markets strategy and investor relations services. The company provides expert counsel and access to an unmatched network of investors and capital markets professional across Canada and the United States. Virtus helps issuers establish the relationships and the investor confidence required to build long-term shareholder value.

About Marvel Biosciences Corp.

Marvel Biosciences, and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based biotechnology company that utilizes a drug redevelopment approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified that involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought as the new potential asset is developed by the company. The company believes the business model results in significantly less risk, cost and time to develop its assets compared with traditional biotechnology companies.

Marvel Biotechnology has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs that inhibit the A2a adenosine receptor with application to neurological diseases (depression and anxiety, Alzheimer’s, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel Biotechnology is also exploring additional undisclosed targets to expand its asset pipeline.

We seek Safe Harbor.

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