MAIA Biotechnology Announces Director Participation in Recent Private Placement Closings

By: MAIA Biotechnology, Inc. via Business Wire

December 19, 2024 at 08:47 AM EST

MAIA Biotechnology, Inc., (NYSE American: MAIA) (“MAIA”, the “Company”), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, today announced that two of the Company’s independent directors, Ramiro Guerrero, JD, LL.M. and Stan V. Smith, Ph.D., purchased MAIA’s common stock and warrants in each of the Company’s recent private placement closings which occurred on November 1, 2024, and December 13, 2024. Total gross proceeds to MAIA from the closings were $3.4 million.

Mr. Guerrero purchased a total of 141,952 shares and 141,952 warrants for an aggregate purchase price of approximately $300,000. Dr. Smith purchased a total of 125,000 shares and 125,000 warrants for an aggregate purchase price of approximately $273,000.

“As always, we much appreciate the continuing support by our directors and their commitment to our scientific innovation and successful clinical progress,” said Vlad Vitoc, M.D., CEO of MAIA.

“I believe MAIA is well positioned to create a great deal of value for its shareholders over time,” said Mr. Guerrero, director and long-term investor. “My increasing investment reflects my confidence in MAIA’s clinical strategy and THIO’s transformative potential for multiple hard-to-treat cancer indications.”

Mr. Guerrero is the founder and CEO of IMPERIO, Inc., a Chicago-based real estate investment and brokerage organization. In addition to his 20+ years in real estate, Mr. Guerrero is a venture capitalist aiding entrepreneurs and small businesses in business startups. Mr. Guerrero made individual purchases in MAIA’s earlier private placement transactions.

Dr. Smith is one of MAIA’s original investors and has participated in nearly every private placement financing round since the Company’s inception. In recent remarks, he shared his belief in the extraordinary market potential for MAIA’s THIO franchise.

Additional details on the private placement can be found in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 10, 2024, at www.sec.gov.

About THIO

THIO (6-thio-dG or 6-thio-2’-deoxyguanosine) is a first-in-class investigational telomere-targeting agent currently in clinical development to evaluate its activity in Non-Small Cell Lung Cancer (NSCLC). Telomeres, along with the enzyme telomerase, play a fundamental role in the survival of cancer cells and their resistance to current therapies. The modified nucleotide 6-thio-2’-deoxyguanosine (THIO) induces telomerase-dependent telomeric DNA modification, DNA damage responses, and selective cancer cell death. THIO-damaged telomeric fragments accumulate in cytosolic micronuclei and activates both innate (cGAS/STING) and adaptive (T-cell) immune responses. The sequential treatment with THIO followed by PD-(L)1 inhibitors resulted in profound and persistent tumor regression in advanced, in vivo cancer models by induction of cancer type–specific immune memory. THIO is presently developed as a second or later line of treatment for NSCLC for patients that have progressed beyond the standard-of-care regimen of existing checkpoint inhibitors.

About MAIA Biotechnology, Inc.

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Forward Looking Statements

MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, and (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219472539/en/

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MAIA Biotechnology Announces Director Participation in Recent Private Placement Closings

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