Exhibit 99.1
TLC Announces Completion of US$27 Million Financing
SOUTH SAN FRANCISCO, CA and TAIPEI, Taiwan– October 24, 2019 –TLC (Nasdaq: TLC, TWO: 4152), a clinical-stage specialty pharmaceutical company developing novel nanomedicines to target areas of unmet medical need in pain management, ophthalmology and oncology, is pleased to announce that it has closed its 2019 cash capital offering of ordinary or common shares in Taiwan. The offering consisted of 10,200,000 new common shares issued at a price of NT$82 per common share for gross proceeds of NT$836,400,000 (~US$27.3 million).
“I am delighted to have secured the funding from existing shareholders and new investors who share our vision,” said George Yeh, President of TLC. “With the financing in place, we can continue to concentrate on the clinical development of our lead programs to offer patients potentially better, longer lasting treatment options.”
TLC’s lead programs include TLC599 and TLC590 for pain management and TLC178 for sarcomas.TLC599 (Phase III) is a BioSeizer® sustained release formulation of dexamethasone sodium phosphate which has demonstrated durable pain relief and improved function over 24 weeks in patients with knee osteoarthritis pain.TLC590 (Phase II) is anon-opioid, BioSeizer® formulation of ropivacaine with the aim to manage postsurgical pain for four to seven days with a single dose, potentially deterring the use of opioids following surgery.TLC178 is aNanoX™ formulation of vinorelbine, an anticancer drug frequently usedoff-label to treat soft tissue sarcoma.
About TLC
Taiwan Liposome Company (“TLC”, NASDAQ: TLC, TWO: 4152) is a clinical-stage specialty pharmaceutical company dedicated to the research and development of novel nanomedicines that maximize the potential of its proprietary lipid-assembled drug delivery platform (LipAD™). TLC believes that its deep experience with liposome science allows a combination of onset speed and benefit duration, improving active drug concentrations while decreasing unwanted systemic exposures. TLC’s BioSeizer® technology is designed to enable local sustained release of therapeutic agents at the site of disease or injury; its NanoX™ active drug loading technology is designed to alter the systemic exposure of a drug, potentially reducing dosing frequency and enhancing distribution of liposome-encapsulated active agents to the desired site. These technologies are versatile in the choice of active pharmaceutical ingredients, and scalable with respect to manufacturing. TLC has a diverse, wholly owned portfolio of therapeutics that target areas of unmet medical need in pain management, ophthalmology, and oncology.
