Day: July 28, 2021

Proceeds to Support GTBP Pipeline Drug Development Program

BEVERLY HILLS, Calif., July 28, 2021 /PRNewswire/ — GT Biopharma, Inc. (NASDAQ: GTBP), an immuno-oncology company focused on innovative therapies based on the Company’s proprietary NK cell engager (TriKE™) technology platform is pleased to announce the company has raised over $16 million in proceeds from the exercise of warrants. The warrants were issued as part of the $27 million financing that closed in February 2021.

The warrant exercise proceeds along with the funds raised when GT Biopharma up listed to the Nasdaq stock exchange puts the company on solid financial ground to accelerate development of GTBP’s drug candidate pipeline. The robust pipeline includes GTB-4550 for lung, lymphoma and other cancers, GTB-5550 for ovarian and prostate cancer, and GTB-6550 for breast and gastric cancer among other drug candidates.

GT Biopharma’s first drug candidate GTB-3550 TriKE™ monotherapy is currently in FDA Phase 1 Clinical Trial. The Phase 1 trial is focused on evaluating safety, the determination of the Phase 2 dose, dose schedule and the maximum tolerated dose. 12 patients have completed treatment in the Phase 1 trial. The Phase 1 safety part of the study is expected to conclude in August 2021 with data publication currently scheduled for September 2021.

Mr. Anthony Cataldo, the Chairman and Chief Executive Officer of GT Biopharma commented “The confidence shown to us by our investors has put GT Biopharma in the financial position to continue our drug development program for the next two years and beyond. We have approximately $40 million in our treasury and we are ready to execute on our plan to bring real, positive change to cancer patients around the world. Our initial drug candidate GTB-3550 is achieving phenomenal results in its FDA clinical trial and we are looking forward to bringing additional drug candidates into trials very soon.”

About GT Biopharma, Inc.

GT Biopharma, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products based our proprietary TriKE™ NK cell engager platform.  Our TriKE™ platform is designed to harness and enhance the cancer killing abilities of a patient’s immune system natural killer cells (NK cells).  GT Biopharma has an exclusive worldwide license agreement with the University of Minnesota to further develop and commercialize therapies using TriKE™ technology. For more information, please visit www.gtbiopharma.com.

Forward-Looking Statements

This press release contains certain forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict, including statements regarding the potential acquisition, the likelihood of closing the potential transaction, our clinical focus, and our current and proposed trials.  Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as “believes”, “hopes”, “intends”, “estimates”, “expects”, “projects”, “plans”, “anticipates” and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking.  Our forward-looking statements are not a guarantee of performance, and actual results could differ materially from those contained in or expressed by such statements.  In evaluating all such statements, we urge you to specifically consider the various risk factors identified in our Form 10-K for the fiscal year ended December 31, 2020 in the section titled “Risk Factors” in Part I, Item 1A and in our subsequent Form 10Q Quarterly filings with the Securities and Exchange Commission, any of which could cause actual results to differ materially from those indicated by our forward-looking statements.

Our forward-looking statements reflect our current views with respect to future events and are based on currently available financial, economic, scientific, and competitive data and information on current business plans.  You should not place undue reliance on our forward-looking statements, which are subject to risks and uncertainties relating to, among other things:  (i) the sufficiency of our cash position and our ongoing ability to raise additional capital to fund our operations, (ii) our ability to complete our contemplated clinical trials, or to meet the FDA’s requirements with respect to safety and efficacy, (iii) our ability to identify patients to enroll in our clinical trials in a timely fashion, (iv) our ability to achieve approval of a marketable product, (v) design, implementation and conduct of clinical trials, (vii) the results of our clinical trials, including the possibility of unfavorable clinical trial results, (vii) the market for, and marketability of, any product that is approved, (viii) the existence or development of treatments that are viewed by medical professionals or patients as superior to our products, (ix) regulatory initiatives, compliance with governmental regulations and the regulatory approval process, and social conditions, and (x) various other matters, many of which are beyond our control.  Should one or more of these risks or uncertainties develop, or should underlying assumptions prove to be incorrect, actual results may vary materially and adversely from those anticipated, believed, estimated, or otherwise indicated by our forward-looking statements.

We intend that all forward-looking statements made in this press release will be subject to the safe harbor protection of the federal securities laws pursuant to Section 27A of the Securities Act, to the extent applicable.  Except as required by law, we do not undertake any responsibility to update these forward-looking statements to take into account events or circumstances that occur after the date of this press release.  Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events which may cause actual results to differ from those expressed or implied by these forward-looking statements.

Contact:

Institutional Investors:
Brendan Payne
Stern Investor Relations, Inc.
brendan.payne@sternir.com
212-362-1200

Investor & Media Relations:
David Castaneda
David@gtbiopharma.com
414-351-9758

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Strategic funding will support company’s growth and global expansion of continuous multi-parameter monitoring devices and data services for medical grade remote care at scale

DENVER, July 28, 2021 /PRNewswire/ — BioIntelliSense, Inc., a continuous health monitoring and clinical intelligence company, today announced it has recently closed its Series B financing round that was significantly oversubscribed at $45 million. This financing round followed a prior Series A financing completed in 2019 and a Series A-Prime completed in 2020 to support BioIntelliSense’s continued growth and global expansion of its medical grade wearable devices and advanced data services for scalable remote care.

Participation in the Series B financing was prominently led by Chimera (UAE), and joined by 7wire Technology Partners, Mary Tolan of Chicago Pacific Founders, James Murren formerly of MGM Resorts International, as well as Pendrell Corporation, Royal Philips, and Fresenius Medical Care North America.  These parties joined the existing investors from the Series A financing, namely TripleTree Holdings, UCHealth and the CU Healthcare Innovation Fund.

“This series of strategic investments further validates our accomplishments to date and marks a significant milestone in the growth and expansion of BioIntelliSense,” stated James Mault, MD, CEO of BioIntelliSense. “We proudly launched our Data-as-Service clinical intelligence platform, along with our flagship FDA-cleared BioSticker™ medical device, in January 2020. This industry first multi-parameter wearable device and data services for continuous vital sign monitoring, paved the way for the rapid acceleration and commercial launch of the BioButton^® health screening solution to address the COVID-19 pandemic and remote care. This pattern of success speaks to our collective passion and unyielding commitment in serving patients, the healthcare community along with our valued strategic partners and investors. With this strong financial support, the BioIntelliSense team will continue to innovate and commercialize its growing portfolio of medical grade wearables and data services across care settings, while making a profound impact on the delivery of personalized care, globally.”

Investing parties provide the following remarks on this financing round with BioIntelliSense:

“The burden of the COVID-19 pandemic and surging prevalence of chronic disease has resulted in exponential global demand for remote care technologies that provide better patient care at a fraction of the cost,” stated Mr. Syed Basar Shueb, Chairman of Chimera (UAE), part of Abu Dhabi’s Royal Group. “BioIntelliSense is uniquely positioned to address health care provider and population-health initiatives with its proprietary portfolio of biosensors and data science that combines an unparalleled user experience with medical-grade clinical accuracy for cost-effective, scalable remote care. As the lead for the BioIntelliSense Series B financing, we are excited to support the company’s innovation, global reach and adoption.”

“The Remote Patient Monitoring market is in hyper-growth mode with projections reaching USD $117.1 billion by 2025,” noted Lee Shapiro, former CFO of Livongo Health and Co-founder and Managing Partner at 7wireVentures. “BioIntelliSense is poised to grow its footprint with provider and payer organizations seeking to accelerate and operationalize their virtual care programs by deploying effortless medical-grade monitoring and advanced analytics that are built for scale.”

“BioIntelliSense represents the future of health care; medical grade monitoring with best-in-class data science feeding life-changing AI and prescriptive analytics at reasonable cost,” said Dr. Richard Zane, UCHealth Chief Innovation Officer and Professor and Chair of Emergency Medicine for the University of Colorado School of Medicine. “As one of BioIntelliSense’s earliest partners, UCHealth already is utilizing this technology to remotely observe patients for detection of deterioration, allowing for early intervention to improve outcomes.”

“Digital transformation within the senior living and post-acute market that optimizes clinical workflow, care pathways and reimbursement models is proven to benefit the provider-patient experience,” said Mary Tolan, private investor, Co-founder and Managing Director of Chicago Pacific Founders.  “BioIntelliSense represents a new standard for remote patient monitoring that aligns with CMS reimbursement codes and bundled payments to support a continuous model of care based on sophisticated biosensor wearable technology and actionable clinical intelligence.”

“In today’s business environment, data is currency,” said Craig McCaw, Chairman and Co-CEO of Pendrell Corporation. “BioIntelliSense harnesses passive continuous health monitoring data and applies advanced algorithmic analytics to deliver a personalized care experience for improved clinical and financial outcomes.  Its Data-as-a-Service (DaaS) platform leverages the latest sensor and wireless technologies, while adhering to strict privacy and security standards, enabling healthcare organizations to scale with confidence.”

“Philips Ventures leverages its targeted investments and collaborations to help develop solutions that enable healthcare providers deliver a better experience for patients and staff, and lower cost of care,” said Rich Wilmot, Managing Partner, Philips Health Technology Ventures. “As part of our ecosystem approach to enable seamless patient monitoring across multiple care settings, Philips also has a commercial relationship with BioIntelliSense for its medical-grade BioSticker and BioButton wearable devices and data services for remote monitoring of at-risk patient populations.”

“Fresenius Medical Care North America (FMCNA) is committed to helping more people living with chronic kidney disease through earlier interventions and has proudly invested in BioIntelliSense as a leading innovation in remote health sensors and services to accelerate medical grade monitoring at home,” said Jeff Burbank, Chief Strategy and Transformation Officer of FMCNA. “With the BioSticker and BioButton, our medical staff can more efficiently and effectively continuously monitor patients between treatments with actionable clinical insights and facilitate precise and timely interventions to reduce cost of care.”

“BioIntelliSense has established a comprehensive, novel approach to medical-grade remote monitoring at an attractive price point with strong reimbursement coverage, making it deployable at scale in a way that can revolutionize the industry,” said Dawn Owens, CEO of TripleTree Holdings.

The COVID-19 pandemic has been a catalyst for the rapid adoption and deployment of digital health technologies by healthcare providers and enterprise employers worldwide, commented James Murren, private investor and former Chairman and CEO of MGM Resorts International. “Through public and private partnerships, a new era of technological innovations has enabled unprecedented public health emergency response and preparedness. The BioIntelliSense BioButton solution is a hallmark example by combining medical-grade wearables and analytics for the early detection of signs and symptoms associated with an infectious process. This continuous vital sign monitoring and health screening capability has proven beneficial to patients and frontline healthcare workers, as well as enterprises, in enabling safe return to work, school, travel and events at scale.”

About BioIntelliSense

BioIntelliSense is ushering in a new era of continuous health monitoring and clinical intelligence for Remote Patient Monitoring (RPM). Its medical-grade Data-as-a-Service (DaaS) platform seamlessly captures multi-parameter vital signs, physiological biometrics, and symptomatic events through an effortless patient experience. The FDA-cleared BioSticker™ and medical-grade BioButton^® devices make remote monitoring and early detection simple. Through the platform’s advanced analytics, clinicians will now have access to high-resolution patient trending and reporting to enable medical grade care at home.

For more information on how BioIntelliSense is redefining remote patient monitoring through medical-grade and cost-effective data services, please contact us at info@biointellisense.com or visit our website at BioIntelliSense.com.

Media Contact

BioIntelliSense, Inc.
Carolyn Walsh
Chief Commercial Officer
cwalsh@BioIntelliSense.com

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SHANGHAI, July 28, 2021 /PRNewswire/ — Arctech (SSE-STAR: 688408), the world’s leading tracking, racking, and BIPV solutions provider, announced that it had delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.  This largest 2P multi-point drive tracking system + bifacial modules project withstood multiple hits by high winds, and the system’s high stability and reliability have been highly recognized by business owners and EPCs.

Since the project land is scattered, it poses a big challenge for the project layout. However, the SkySmart II tracking system with the length of 65-meter is relatively shorter than most of the 1P trackers, which makes it an ideal choice for the project. At the same time, under challenges of soaring steel price and steels in short supply, Arctech still delivered trackers in just three months, which enables the project to be completed on time.

As the first IEC-certified multi-point parallel drive tracking system; though it is SkySmart II’s first application in a large-scale project in China, it has been well-accepted in many other countries such as Kazakhstan, Chile, and the USA, etc.

Adopting the self-developed multi-point parallel drive technology, Arctech SkySmart II provides a 200% increase in wind resistance than other 2P tracking systems and a 52% reduction in foundations than 1P tracking systems. Meanwhile, since SkySmart II is equipped with 4X1,500V-strings of solar modules, which not only helps to reduce electrical costs but also makes it possible to be compatible with all commercially available solar modules including the 182/210 large modules.

Moreover, with the help of artificial intelligence, tracking control strategy, cloud strategy based on real-time meteorological data, bifacial power generation strategy and closed-loop feedback strategy that shares parameters with DC combiner and string inverter, SkySmart II can adapt to various terrains, weather and land conditions and enable up to 7% of additional energy generation.

“Cutting-edge technological innovation and reliable product quality are keys for Arctech SkySmart II to win the 575MW solar project. In addition, with SkySmart II’s successful application in the global project, we believe the tracker market will witness unprecedented prosperity in the upcoming decade with the popularity of both 1P and 2P trackers.” said Guy Rong, President of Global Business at Arctech. “Besides offering reliable products, Arctech’s timely and professional service is also an important reason for us to achieve breakthroughs on the global scale continuously. Looking into the future, Arctech will commit itself to increasing the PV power generation with more highly efficient and reliable products and services, helping more customers achieve commercial success and helping the world to realize the Carbon Neutrality target.”

Yoyo YU
Overseas Communication Specialist
Tel: 021-60256830-842
Email: yoyo.yu@arctechsolar.com

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