PRESS RELEASE - 28 March 2023. Limassol, Cyprus

ASBISc Enterprises Plc (WSE: ASB), a leading Value-Added Distributor, developer and supplier of IT and IoT products, solutions and services in the growing markets of Europe, Middle East and Africa, has proceeded with an investment of a total amount of EUR 800 thousand euro to acquire a 4.5% stake in Theramir Ltd, a biotech company developing stem cell and RNA based technologies for the diagnosis and treatment of cancer disease. Theramir's proprietary cancer therapeutics utilize microRNAs (miRNAs), a novel class of small non-coding RNAs that can regulate many genes and pathways involved in cancer growth and metastasis.

The funds will be used to complete preclinical development of the novel therapeutics and prepare the technology for a licensing agreement with a pharmaceutical partner  that will allow the launching of a clinical Phase I trial in the next two years. As already announced, ASBIS continues to diversify its activities by investing in yet another company from the biomedical sector that is at an early stage of development and which operates in a very promising market.

Theramir, founded in 2016, has developed a unique technology using stem cell-derived extracellular vesicles designed to deliver therapeutic miRNA sequences directly to solid tumors in order to block multiple cancer processes and revert the cancer cells back to a normal state. The technology can be customized for each patient in the context of a personalized medicine approach and can be targeted to specific tumor sites while sparing healthy, non-cancerous tissue.

Theramir is the third biotechnology company in ASBIS portfolio, after Promed and RSL Revolutionary Labs, which is part of a group of innovative startups offering solutions for oncology patients that are led by Drs Marianna Prokopi-Demetriades and Costas Pitsillides, who not only have extensive experience in molecular biology and biomedical engineering, but are also experienced entrepreneurs for years operating in the field of cancer biotechnology.

These three startups have recently moved into state-of-the-art laboratories that are housed in the brand new facilities of the ASBIS High-tech Cluster HUB which is expected to significantly boost their growth and accelerate their expansion into new oncology and regenerative medicine areas. 

Serhei Kostevitch, CEO of ASBIS Group, commented: “Theramir is working on a unique technology that can significantly contribute to the treatment of cancer. Theramir's achievements and its biotechnology are currently among the most significant in the world, which definitely require further research and development. I am proud that ASBIS invests in companies that can contribute to the treatment, but also to a significant improvement in the quality of life of cancer patients around the world.” 

Dr. Marianna Prokopi-Demetriades, Co-founder of Theramir, commented: “Theramir is a leading-edge biotech that is working towards making significant contributions in the fight against cancer disease. Our technology is at the forefront of a new class of targeted cancer therapeutics that will play a significant role in the global biomedicine market. Our results so far have been extremely encouraging and we are confident that with the support of ASBIS, we will be able to finance further growth and development of our core technologies in order to enter the clinical market. On behalf of the entire team, I would like to thank ASBIS for supporting our project, which has the potential to benefit millions of people with cancer worldwide.”

For additional information, please contact:  

Iwona Mojsiuszko
8Sense Public Relations
Tel. +48 502 344 992

About ASBISc Enterprises Plc 

ASBIS Group is a leading Value Add Distributor, developer and provider of ICT, IoT products, solutions, and services to the markets of Europe, the Middle East, and Africa (EMEA) with local operations in Central and Eastern Europe, the Baltic republics, the former Soviet Union, the Middle East and North Africa. 

The business of ASBIS is based on three pillars:
1. Distribution of hardware and software for Client Computing and Data Centers, consumer electronics thru:
    a.   Retail chains and e-tailers
    b.   Resellers to small and medium business
    c.   Large enterprises.
2. Full stack in creation of world class products. From scientific research and development to design and engineering, firmware and software, production and marketing of IT and IoT products and solutions via own brands:
    a.      Aeno (small home appliances).
    b.     Canyon (smart watches, power banks, accessories for computers and mobile devices)
    c.     Cron Robotics (building own solutions in the robotics segment, including cobots).
    d.     Lorgar (accessories for gaming and streaming)
    e.     Perenio (IoT platform, IoT routers, applications and peripherals for smart office/ home, smart health).
    f.     Prestigio (smart devices and accessories, innovative solutions for business and education, etc.)
    d.     Prestigio Solutions (innovative technological solutions for business and education)
3.     Complex solutions sales projects to large enterprises via extensive networks of System Integrators and Value Add Resellers. 

ASBIS was founded in 1990 in Belarus, since 1995 operates from Cyprus. Company has 2 main distribution centers in the world located in the Czech Republic and the United Arab Emirates and 2 regional distribution centers (Georgia, South Africa), subsidiaries in 28 countries, more than 2,200 employees and about, 20 000 active customers in 60 countries worldwide. In 2022, the Group delivered sales of close to USD 2.7 billion.

The Company’s stock has been listed on the Warsaw Stock Exchange since October 2007 under the ticker symbol “ASB” (ASBIS). 

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About Theramir Ltd 

Theramir, founded in 2016, brings together a team of research entrepreneurs with significant experience in the discovery, development and commercialization of innovative cancer therapeutics. The company focuses on the development of novel microRNA-based therapeutics and companion diagnostics for cancer disease. Theramir’s precision oncology drug candidates offer significant advantages in terms of tumor selectivity and efficacy compared tocurrent treatments and provide a new avenue to successfully treat a wide range of cancers as part of a personalized medicine approach. Together with its investors and network of partners, the team is committed to exploitingthe full potential of Theramir’s proprietary technologies through commercial partnerships and licensing agreements with biopharmaceutical industry partners, for the benefit of patients worldwide. 

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