Business
Thiogenesis Announces Non-Brokered Private Placement
San Diego, California--(Newsfile Corp. - May 11, 2026) - Thiogenesis Therapeutics Corp. (TSXV: T...
About this update from Thiogenesis Therapeutics Corp
[{"type":"text","content":"Thiogenesis Announces Non-Brokered Private PlacementSan Diego, California--(Newsfile Corp. - May 11, 2026) - Thiogenesis Therapeutics Corp. (TSXV: TTI) (\"Thiogenesis\" or the \"Company\"), a clinical-stage biotechnology company developing a next-generation cysteamine-based therapy for rare diseases, announced today that it will undertake a non-brokered private placement (the \"Offering\") of up to 16,000,000 common shares of the Company (\"Offered Shares\") at a price of $0.50 per Common Share for gross proceeds of $8 million.This Offering is subject to the approval of the TSX Venture Exchange (the \"Exchange\"). The Company anticipates closing of the Offering by the end of May subject to receipt of all necessary regulatory approvals. Upon issuance, the Offered Shares will be subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, Exchange policies.In connection with the Offering, the Company may pay finder's fees to eligible persons in compliance with applicable securities laws and Exchange policies. The proceeds of the financing will be used to support the clinical development of TTI-0102, including an investigator-initiated study in cystinosis and a Phase 2 clinical study in Leigh syndrome, together with formulation and manufacturing activities, regulatory engagement, and general working capital and corporate purposes.About ThiogenesisBased in San Diego, California, Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) is a clinical-stage biotechnology company developing TTI-0102, a novel controlled-release cysteamine prodrug designed to offer improved tolerability and dosing compared with existing therapies. The company is advancing TTI-0102 toward a pivotal Phase 3 clinical trial in nephropathic cystinosis and is supporting clinical development in inherited mitochondrial diseases, following completion of a Phase 2 programme in MELAS and the initiation of a Phase 2 clinical study in Leigh syndrome.For further information, please contact:Brook Riggins, Director and CFOEmail: [email protected].: (888) 223-9165Forward Looking StatementsThis news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as forward-looking statements) within the meaning of Canadian securities laws including, without limitati...