Trillium Therapeutics Inc. Provides Corporate Update And Announces Reverse Stock Split For NASDAQ Listing

TORONTO, Nov. 13, 2014 (GLOBE NEWSWIRE) -- Trillium Therapeutics Inc. ("Trillium") (TSX:TR) (OTCQX:SCTPF), an immuno-oncology company developing innovative therapies for the treatment of cancer, today provided the following corporate update:

The company's SIRPaFc program continues to be on track for an IND filing in the second half of 2015. A pre-IND meeting with the FDA has been scheduled for the end of January. The company has recently generated additional efficacy data in a mouse model of acute myeloid leukemia, examining various therapeutic dose levels and dosing regimens, as well as the effect of various Fc regions. The data continue to demonstrate that the identity of the Fc region directly impacts potency and that significant anti-tumor activity can be achieved at doses below 1 mg/kg using the most active Fc region. Additional in vivo studies in solid tumor models are underway and studies in several additional haematological cancers are currently being organized and are expected to commence shortly.

In parallel with its expanded efficacy studies, the company has also conducted additional non-GLP non-human primate safety and pharmacokinetic studies, which have provided valuable guidance for the design of its formal IND-enabling toxicology program, expected to commence in the first quarter of 2015. The on-target tolerability limitations in non-human primates primarily involve binding to red blood cells (RBCs) and platelets and occur at doses well above the expected therapeutic dose level. Moreover, binding studies with human RBCs have demonstrated that the company's SIRPaFc development candidates exhibit exceedingly low binding to CD47 on RBCs compared to CD47-specific monoclonal antibodies. This differential binding profile is independent of blood type and Rh antigen status. Consequently, there is reason to believe that SIRPaFc treatment in humans will not adversely affect RBC levels and function, nor will the pharmacokinetic properties of SIRPaFc be negatively impacted through sequestering by circulating RBCs.

The company also announces a reverse stock split of its common shares in order to meet the minimum share price listing requirement for its common shares on the NASDAQ Capital Market. The company filed an application with the NASDAQ Stock Market LLC and a Form 20-F registration statement with the U.S. Securities and Exchange Commission and hopes to complete the listing process this year.

The Board of Directors of Trillium has approved filing articles of amendment providing for a reverse stock split of the issued common shares of Trillium on the basis of 1 post-consolidation common share for 30 pre-consolidation common shares as authorized by Trillium's shareholders at the annual meeting of shareholders held on May 27, 2014. No fractional shares shall be issued in connection with the reverse stock split and any fractional shares resulting from the reverse stock split will be rounded up or down to the nearest whole number. The number of Trillium's common shares currently outstanding is 129,217,507. The number of common shares outstanding following the reverse stock split will be approximately 4,307,250.

Letters of transmittal with respect to the reverse stock split will be mailed out to all registered shareholders. All registered shareholders of Trillium will be required to send their certificates representing pre-consolidation common shares with a properly executed letter of transmittal to Trillium's transfer agent, Computershare Investor Services Inc., in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their own name will not be required to complete a letter of transmittal.

"We believe this reverse split will make an investment in Trillium more appealing to a broader institutional investment community," commented James Parsons, Chief Financial Officer of Trillium. "Coupled with a planned NASDAQ listing, we hope to increase liquidity and shareholder value as we advance our SIRPaFc development program."

About Trillium Therapeutics:

Trillium Therapeutics Inc. is an immuno-oncology company developing innovative therapies for the treatment of cancer. The Company has two premier preclinical programs, SIRPaFc and a CD200 monoclonal antibody (mAb), which target two key immunoregulatory pathways that tumor cells exploit to evade the host immune system. SIRPaFc is an antibody-like fusion protein that blocks the activity of CD47, a molecule that is upregulated on tumor cells in acute myeloid leukemia (AML) and numerous other malignancies. The CD200 mAb is a fully human monoclonal antibody that blocks the activity of CD200, an immunosuppressive molecule that is overexpressed by many hematopoietic and solid tumors.

For more information visit: www.trilliumtherapeutics.com

Caution Regarding Forward-Looking Information:

This press release may contain forward-looking statements, which reflect Trillium's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties are described in the company's ongoing quarterly and annual reporting. Forward looking information in this release includes our expectation of the timing and benefits of listing on the NASDAQ Capital Market stock exchange and the filing and clearing of the Form 20-F registration statement with the U.S. Securities and Exchange Commission, the timing of starting additional preclinical studies, the timing of filing the IND and expectations about the lack of impact by SIRPaFc on red blood cell levels and function. Except as required by applicable securities laws, Trillium undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

CONTACT: Trillium Therapeutics Inc. James Parsons Chief Financial Officer +1 416 595 0627 x232 james@trilliumtherapeutics.com www.trilliumtherapeutics.com

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