Oncolix, Inc. is the New Name of Advanced Environmental Petroleum Producers to Reflect Company’s Focus as a Clinical-Stage ...
October 03 2017 - 3:57PM
(AEPP) Advanced Environmental Petroleum Producers Inc. announced
that it has changed its name to Oncolix, Inc., to reflect its focus
on developing new cancer therapeutics. The Company will now
promptly file a request with the Financial Industry Regulatory
Authority (FINRA) to change its stock symbol to be consistent with
the new name.
The name change was approved by written consent
of the holders of the majority of the voting securities of the
Company on August 21, 2017. Furthermore, an information statement
pursuant to Regulation 14C of the Securities Exchange Act of 1934,
was mailed on September 6, 2017, to holders of record of the
Company’s common and preferred stock as of August 21, 2017.
The shareholder action became effective on September 27, 2017. The
Company then filed an Amendment to its Articles of Incorporation
with the Secretary of State of Florida on September 28, 2017.
“This name change reflects our current operating
business, which is a drug development company,” stated Michael T.
Redman, CEO of Oncolix. “This, along with our forthcoming request
for a stock symbol change and other activities that we are engaged
in, is part of our ultimate objective of becoming a Nasdaq-listed
emerging biopharmaceutical company.”
The Amendment to the Articles of Incorporation
also increased the number of authorized shares as previously
disclosed in August 2017.
About Oncolix
Oncolix is a clinical-stage biotechnology
company developing Prolanta™ for the treatment of ovarian, uterine,
breast and other cancers. The Company has a US FDA-cleared IND to
commence human testing of Prolanta™ in its first indication, the
treatment of ovarian cancer. This Phase 1 clinical trial
began in 2016. Prolanta™ is a prolactin receptor antagonist (or
blocker) that has demonstrated efficacy in xenograft models through
a unique mechanism of action, autophagy. In addition to ovarian
cancer, there is strong preclinical evidence Prolanta™ may be
effective in breast, prostate and other cancers. In the current
Phase 1 dose-escalation safety trial for the treatment of ovarian
cancer, to date there have been no observed serious adverse events
and no dose-limiting toxicities. The FDA has approved the
designation of Prolanta™ as an Orphan Drug for the treatment of
ovarian cancer, which may result in reduced filing fees (currently
$2 million), federal tax credits and marketing exclusivity.
Forward-Looking Statements
This press release above may contain
forward‐looking statements about the business, financial condition
and prospects of the Company. Forward looking statements can be
identified by the use of forward-looking terminology such as
“believes,” “projects,” “expects,” “may,” “goal,” “estimates,”
“should,” “plans,” “targets,” “intends,” “could,” or “anticipates,”
or the negative thereof, or other variations thereon, or comparable
terminology, by discussions of strategy or objectives.
Forward-looking statements relate to anticipated or expected
events, activities, trends or results. Because
forward-looking statements relate to matters that have not yet
occurred, these statements are inherently subject to risks and
uncertainties.
Although the Company believes that the
expectations reflected in forward-looking statements are
reasonable, there can be no assurances that such expectations will
prove to be accurate. Security holders are cautioned that
such forward-looking statements involve risks and uncertainties.
The forward-looking statements contained in the press release speak
only as of the date of the press release, and the Company expressly
disclaims any obligation or undertaking to report any updates or
revisions to any such statement to reflect any change in the
Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based. Certain factors
may cause results to differ materially from those anticipated by
some of the statements made in the press release. Investors are
urged to consider closely the disclosures in our Forms 10-K, 10-Q,
8-K and other filings with the SEC, which can be electronically
accessed from the SEC's website at http://www.sec.gov/.
Corporate contact:
Michael RedmanP: 281-402-3167E: mredman@oncolixbio.com
Investor contact:Robert Flamm, Ph.D.The Ruth GroupE:
rflamm@theruthgroup.com