Portage provides update on SalvaRx portfolio company, Intensity Therapeutics, Inc.

TORONTO, Oct. 22, 2018 /PRNewswire/ - (PBT.U: CSE, PTGEF: OTC Markets) - Portage Biotech Inc. ("Portage" or the "Company") wishes to provide an update on a SalvaRx Limited portfolio company, Intensity Therapeutics, Inc. ("Intensity"). SalvaRx Limited holds an 8.5% equity interest in Intensity.

Intensity has announced that results from its clinical trial IT-01 were presented at the European Society for Medical Oncology (ESMO) 2018 Congress in Munich, Germany. The preliminary data from a Phase 1/2 clinical study demonstrated that INT230-6, the Company's novel lead product candidate designed for direct intratumoral injection, was well tolerated in patients with advanced solid tumors.

INT230-6 is comprised of two proven, potent anti-cancer agents and a unique molecule that causes rapid drug dispersion throughout tumors and diffusion into cancer cells. In preclinical studies, INT230-6 demonstrated the ability to thoroughly saturate and kill injected tumors and induce an adaptive immune response that attacks non-injected tumors.

"We are pleased to share the first clinical data emerging from Intensity's study evaluating INT230-6 in patients with different types of solid tumors. This early data indicates that INT230-6 can be safely injected into several different types of superficial and deep tumors, and the vast majority of the active components stay inside the tumor," said Ian B. Walters, MD, Chief Medical Officer of Intensity.

The presenting author and a study investigator, Anthony El-Khoueiry, MD, Associate Professor of Clinical Medicine and phase I program director at the University of Southern California Norris Comprehensive Cancer Center, said, "We have treated 20 patients in the study thus far, and the intratumoral injections of INT230-6 have been well tolerated. Most patients experienced mild to moderate transient local pain and swelling. Even at low doses, we are seeing some anti-tumor effects in injected tumors, as well as some evidence of immune activation in the blood. There are also early signs of anti-tumor effects in distal untreated tumors."

Dr. Walters added, "The study will continue to enroll patients with difficult-to-treat tumors as we explore higher doses. We look forward to adding more North American sites, as well as new centers outside the U.S. and Canada. In addition, we plan to move into combination arms with an anti-PD-1 antibody and begin Phase 2 expansion cohorts next year."

The full release can be found at:  https://intensitytherapeutics.com/media/#media-group-press-releases

About SalvaRx Limited

In addition to its 8.5% interest in Intensity, SalvaRx Limited holds interests in a number of other companies developing cancer immunotherapies including iOx Therapeutics Ltd., Nekonal Oncology Limited and Rift Biotherapeutics.

Portage has entered into an agreement to acquire 100% of SalvaRx Limited from SalvaRx Group plc (SALV:LSE) and two other vendors (see Portage's news release dated August 14, 2018). Completion of the sale of SalvaRx Limited to Portage is currently subject to shareholder and CSE approval.

Neither CSE nor its Market Regulator (as the term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward looking statements concerning future operations of Portage Biotech Inc. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and financial results may differ materially from any estimates and projections.

SOURCE Portage Biotech Inc.

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