$1.8 Million Fast-Track NIH SBIR Grant for Manocept™ Immunotherapeutics Evaluation in Kaposi’s Sarcoma Awarded to Navidea

On May 26, 2016 Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) reported the receipt of an initial notice of award for a Fast- track Small Business Innovation Research (SBIR) grant providing for up to $1.8 million from the National Institutes of Health’s (NIH) National Cancer Institute (NCI) to fund evaluation of an investigational Manocept-based immunotargeted treatment for Kaposi’s Sarcoma (KS) (Press release, Navidea Biopharmaceuticals, MAY 26, 2016, View Source;p=RssLanding&cat=news&id=2172821 [SID:1234512817]).

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The novel Manocept construct is designed to specifically deliver doxorubicin, a chemotoxin, which can kill KS tumor cells and their tumor-associated macrophages (TAMs) potentially altering the course of cancer. KS is a serious and potentially life threatening illness in persons infected with the human immunodeficiency virus (HIV) and the third leading cause of death in this population worldwide. The prognosis for patients with KS is poor with high probabilities for mortality and greatly diminished quality of life. The development activities of the Manocept immunotherapeutic platform will be conducted by Navidea and its subsidiary, Macrophage Therapeutics.

The funds for this Fast-track grant (National Cancer Institute of the National Institutes of Health under Award Number R44CA206788) will be released in three parts, which together have the potential to provide up to $1.8 million in resources over 2.5 years with the goal of completing an investigational new drug (IND) submission for a Manocept construct (MT1000 class of compounds) consisting of tilmanocept linked to doxorubicin for the treatment of KS. The first part of the grant will provide $232,000 to support analyses including in vitro and cell culture studies and will be followed by Part 2 and 3 animal testing studies. If successful, the information from these studies will be combined with other information in an IND application that will be submitted to the U.S. Food and Drug Administration (FDA) requesting permission to begin testing the compound selected in human KS patients.

"We believe that given the data to date from the Manocept platform, these studies along with a host of other human tumor model studies ongoing and planned for animal testing will provide a powerful gateway to a new class of anti-TAM immunotherapies directed at solid tumors. A drug that selectively kills cells that are highly expressing CD206 is expected to have an overwhelming, immediate, conspicuous and easily measured effect on KS tumors," said Frederick Cope, Ph.D., M.S., F.A.C.N., C.N.S., Senior Vice President and Chief Scientific Officer of Navidea. "This grant will bring us to submission of an IND and the first time human evaluation for a Manocept immunotherapeutic. We anticipate if trials are successful, we can bring an effective and life-sparing new therapy to KS patients who are in desperate need for such a new treatment."

"The Manocept platform may offer a unique approach to the treatment of Kaposi’s sarcoma (KS) and is, we believe, a translational portal to the therapy of a number of other solid tumors in which macrophages and tumor-associated macrophages play a key role in tumorigenesis and metastasis," said Michael Goldberg, M.D. Chairman of the Board of Navidea, "We believe that KS serves as model for a development strategy that can be expanded to other macrophage-dependent solid tumors as well as a model for therapeutics targeting viruses that incubate in macrophages. We are encouraged that our therapeutic program has been recognized by the NIH so soon after we began our therapeutic development effort. We plan on submitting additional grant requests as soon as we obtain results from the multiple ongoing studies in various cancer models, which should read out shortly."

About the MT1001 Study Efforts in KS

These IND-enabling studies will be conducted in three parts. Part 1 studies require in vitro and cell culture experiments related to safety and efficacy of an intravenous injection of MT100. In Part 2 and 3, nine preclinical animal studies will build on the Part 1 results and will further refine safety and efficacy variables including dosing and drug administration regimens and evaluating the feasibility of the MT 1000-class of molecules, as a novel treatment for KS. Following these studies, Navidea expects to submit an IND application to the FDA seeking permission to begin Phase 1/2 clinical evaluation of MT1001 in KS patients.

About KS

Kaposi sarcoma (KS) is a serious and potentially life threatening illness in persons infected with the HIV, the causative agent of acquired immunodeficiency syndrome (AIDS). Tumor associated macrophages (TAMs) constitute an important tumor component for most types of cancer (including KS) that contributes to tumor growth and protection from immune responses. Navidea, through its subsidiary Macrophage Therapeutics, is developing a receptor targeted drug construct that may be able to effectively treat KS and could contribute to effective immunotherapy for a wide variety of cancers.

About the Manocept CD206-targeting platform

Navidea Biopharmaceuticals is developing Manocept, a new pharmaceutical platform technology, targeting cells that express the macrophage mannose receptor (CD206). A wide variety of immune-targeting applications for this platform technology are envisioned. Macrophages play important roles in many disease states and are an emerging target in many disorders. This flexible and versatile platform acts as an engine for purpose-built molecules that may enhance diagnostic accuracy, clinical decision-making, targeted treatments and ultimately patient care. As an immunodiagnostic tool, the Manocept technology can utilize a breadth of imaging modalities, including SPECT, PET, intra-operative and/or optical-fluorescence detection. By linking a therapeutic agent on the Manocept molecular backbone, there is the potential to develop novel, targeted immunotherapies specifically designed to selectively deliver an agent that can kill or alter disease-associated macrophages. MT1000 class of compounds , consisting of a Manocept construct linked to doxorubicin, is the first in a series of drug delivery constructs that will utilize Navidea’s Manocept CD206 targeted drug delivery platform. Navidea’s FDA-approved immunodiagnostic agent, Lymphoseek (technetium 99m tilmanocept) injection, is representative of the platform’s ability to successfully exploit this mechanism and offer the potential for development of new CD206-targeted immunodiagnostic agents and immunotherapeutics. The development activities of the Manocept immunotherapeutic platform will be conducted by Navidea‘s subsidiary, Macrophage Therapeutics.

About Lymphoseek

Lymphoseek (technetium Tc 99m tilmanocept) injection is the first and only FDA-approved receptor-targeted lymphatic mapping agent. It is a novel, receptor-targeted, small-molecule radiopharmaceutical used in the evaluation of lymphatic basins that may have cancer involvement in patients. Lymphoseek is designed for the precise identification of lymph nodes that drain from a primary tumor, which have the highest probability of harboring cancer. Lymphoseek is approved by the U.S. Food and Drug Administration (FDA) for use in solid tumor cancers where lymphatic mapping is a component of surgical management and for guiding sentinel lymph node biopsy in patients with clinically node negative breast cancer, melanoma or squamous cell carcinoma of the oral cavity. Lymphoseek has also received European approval in imaging and intraoperative detection of sentinel lymph nodes in patients with melanoma, breast cancer or localized squamous cell carcinoma of the oral cavity.

Accurate diagnostic evaluation of cancer is critical, as results guide therapy decisions and determine patient prognosis and risk of recurrence. Overall in the U.S., solid tumor cancers may represent up to 1.2 million cases per year. The sentinel node label in the U.S. and Europe may address approximately 600,000 new cases of breast cancer, 160,000 new cases of melanoma and 100,000 new cases of head and neck/oral cancer diagnosed annually.

Lymphoseek Indication and Important Safety Information

Lymphoseek is a radioactive diagnostic agent indicated with or without scintigraphic imaging for:

Lymphatic mapping using a handheld gamma counter to locate lymph nodes draining a primary tumor site in patients with solid tumors for which this procedure is a component of intraoperative management.
Guiding sentinel lymph node biopsy using a handheld gamma counter in patients with clinically node negative squamous cell carcinoma of the oral cavity, breast cancer or melanoma.
Important Safety Information

In clinical trials with Lymphoseek, no serious hypersensitivity reactions were reported, however Lymphoseek may pose a risk of such reactions due to its chemical similarity to dextran. Serious hypersensitivity reactions have been associated with dextran and modified forms of dextran (such as iron dextran drugs).

Prior to the administration of Lymphoseek, patients should be asked about previous hypersensitivity reactions to drugs, in particular dextran and modified forms of dextran. Resuscitation equipment and trained personnel should be available at the time of Lymphoseek administration, and patients observed for signs or symptoms of hypersensitivity following injection.

Any radiation-emitting product may increase the risk for cancer. Adhere to dose recommendations and ensure safe handling to minimize the risk for excessive radiation exposure to patients or health care workers.

In clinical trials, no patients experienced serious adverse reactions and the most common adverse reactions were injection site irritation and/or pain (<1%).

FULL LYMPHOSEEK PRESCRIBING INFORMATION CAN BE FOUND AT: WWW.LYMPHOSEEK.COM

AVEO Announces Dosing of First Patient in the Pivotal Phase 3 TIVO-3 Study of Tivozanib in Renal Cell Carcinoma

On May 26, 2016 AVEO Oncology (NASDAQ:AVEO) reported that the first patient has been dosed in the Company’s pivotal TIVO-3 trial, a randomized, controlled, multi-center, open-label study to compare tivozanib to sorafenib in subjects with refractory advanced renal cell carcinoma (RCC) (Press release, AVEO, MAY 26, 2016, View Source [SID:1234512802]). Tivozanib is an oral, once-daily, vascular endothelial growth factor (VEGF) tyrosine kinase inhibitor (TKI).

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The Phase 3 trial is expected to enroll approximately 322 patients with recurrent or metastatic RCC who have failed at least two prior regimens, including VEGFR-TKI therapy (other than sorafenib). Eligible patients may also have received checkpoint inhibitor therapy in earlier lines of treatment. Patients will be randomized 1:1 to receive either tivozanib or sorafenib, with no crossover between arms. The primary endpoint of the study is progression free survival. Secondary endpoints include overall survival, overall response rate, and safety and tolerability. Top line readout of the study is currently projected for the first quarter of 2018.

The TIVO-3 trial, together with the previously completed TIVO-1 trial of tivozanib in the first line treatment of RCC, is designed to support a first and third line indication for tivozanib in the U.S. Marketing authorization applications seeking approval of tivozanib as a treatment for first line renal cell cancer are currently pending in Europe and Russia based on applications submitted by AVEO’s partners EUSA Pharma and Pharmstandard in those respective territories.

"While significant advances have been made in the treatment of renal cancer, there remains a need for effective yet more tolerable treatments, both for single agent and combination use," said Brian Rini, M.D., Professor of Medicine at the Cleveland Clinic Lerner College of Medicine. "In past studies, tivozanib has demonstrated a unique tolerability profile among VEGF targeted therapies, owing to its high selectivity for the VEGF pathway, that have resulted in fewer dose interruptions or reductions. I am pleased to see tivozanib return to the clinic, with the goal of better understanding its single agent potential through TIVO-3, and I look forward to realizing its potential for combination use with checkpoint inhibitors in future studies."

"Launch of the pivotal TIVO-3 trial marks a vital step forward for our North American development and registration strategy for tivozanib, and is a defining moment in the turnaround story unfolding at AVEO," said Michael Bailey, president and chief executive officer of AVEO. "In less than 18 months, we have meaningfully progressed our defined clinical development and regulatory paths forward for tivozanib in the US and Europe, executed multiple partnerships to advance and de-risk our pipeline while retaining substantial North American rights to our three oncology therapeutic assets, and strengthening our balance sheet. We look forward to diligently executing on this study, and to a number of potential value creating milestones, including those that could arise from tivozanib approval decisions, in the quarters ahead."

About Tivozanib

Tivozanib is an oral, once-daily, vascular endothelial growth factor (VEGF) tyrosine kinase inhibitor (TKI). It is a potent, selective and long half-life inhibitor of all three VEGF receptors and is designed to optimize VEGF blockade while minimizing off-target toxicities, potentially resulting in improved efficacy and minimal dose modifications. Tivozanib has been investigated in several tumors types, including renal cell, colorectal and breast cancers.

8-K – Current report

On May 25, 2016 Medivation, Inc. (NASDAQ: MDVN) reported that it urged its stockholders to reject Sanofi’s attempt to replace the company’s entire Board of Directors with hand-picked nominees through a proposed consent solicitation, which Medivation believes is a tactic for Sanofi to facilitate its substantially inadequate and opportunistically-timed proposal to acquire Medivation (Filing, 8-K, Medivation, MAY 25, 2016, View Source [SID:1234512818]). Medivation expects to promptly file consent revocation materials with the U.S. Securities and Exchange Commission.

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On April 29, 2016, the Medivation Board unanimously rejected Sanofi’s unsolicited, non-binding proposal to purchase Medivation for $52.50 per share in cash because it substantially undervalues the company, its leading oncology franchise and its innovative, late-stage pipeline. The Medivation Board reached its conclusion about Sanofi’s proposal based on a thorough analysis of the commercial momentum and outlook of the company’s marketed product, XTANDI; its excellent pipeline of prospects; its track record of successful drug development; and its history of delivering superior returns to stockholders.

David Hung, M.D., Founder, President and Chief Executive Officer of Medivation, said, "Medivation’s experienced Board of Directors has been instrumental in overseeing a strategy that has created a leading oncology franchise, delivered consistently strong financial performance, and positioned the company for future growth through its innovative late-stage pipeline. Under the leadership of its Board of Directors, Medivation has achieved great success and rewarded its stockholders with extraordinary results, delivering total stockholder returns of more than 1,440% since 2009. In contrast, Sanofi has no duty to act in the best interests of Medivation or its stockholders. Its proposal to replace our existing directors with its own hand-picked nominees is simply a tactical maneuver to facilitate a transaction that will transfer value that rightly belongs to Medivation stockholders to Sanofi."

Kim Blickenstaff, Chairman of Medivation’s Board of Directors, said, "Sanofi is seeking to take control of our Board in a clear attempt to circumvent objective deliberations over what course of action is in the best interests of all Medivation stockholders. The unattractive economics of Sanofi’s proposal – which the Board has already determined to be substantially inadequate – have not changed. The Medivation Board remains committed to ensuring that our stockholders retain the ability to benefit from the significant value creation potential of our Company."

Evercore and J.P. Morgan are serving as financial advisors to Medivation, and Wachtell, Lipton, Rosen & Katz and Cooley LLP are acting as legal counsel.

Israeli startup HIL Applied Medical Ltd. acquires US-Based Nanolabz Inc. – en route to developing advanced cancer radiotherapy systems

On May 26, 2016 HIL Applied Medical Ltd. a Jerusalem, Israel medical technology startup reported the acquisition of Nanolabz Inc. – a Reno, Nevada company born out of University of Nevada research and focused on developing and fabricating smart targets for laser-based proton acceleration (Press release, HIL Applied Medical, MAY 25, 2016, View Source [SID:1234512815]). HIL Applied Medical is developing a new class of ultra-compact, high-performance Proton Beam Therapy systems, based on high-intensity lasers and nano-engineered smart targetry.

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"Today’s announcement is important on several levels," Mr. Sagi Brink-Danan, Chief Executive Officer of HIL, said, "The acquisition immediately doubles HIL’s patent portfolio, thus further fortifying our already-strong IP position in our field. It also adds strong, complimentary talent to our team, and provides a strong base for HIL’s US operations. We are looking forward to working together with the NanoLabz and UNR teams towards our joint goal of building the world’s first laser-based cancer proton therapy system."
NanoLabz co-founders Dr. Jesse Adams and Mr. Steven Malekos said they are thrilled to have found a great partner for NanoLabz’ technology with HIL, adding that "we are looking forward to working with HIL’s world-class, committed and capable team on translating cutting-edge technology into products that will benefit cancer patients worldwide."

Co-founder and president of Nanolabz, Mr. Grant Korgan, added: "It’s a joy to see us reach this milestone. It is a testament to hard work and the power of positivity." Mr. Korgan suffered a major spinal cord injury in 2010, and has since become a local and global inspiration, TED-lecturer and sought-after public speaker.

UNR president Dr. Marc Johnson stated that he was pleased to see this milestone, which highlights the institution’s role as an internationally respected, high-impact research university.

What is Proton Therapy: A proton beam is a form of focused radiation used to treat solid tumors. It is superior to traditional radiation therapy (X-Ray, or Photons) in that it reduces damage to surrounding healthy tissue by 2X-6X, thereby reducing toxicities and improving patient survival and quality of life. Proton therapy is used routinely for treating many types of cancer; it is FDA-cleared (510k) and reimbursed by both Federal and private insurers.

Proton Therapy’s Unmet Need: Proton beam therapy can help an estimated 300,000 cancer patients every year in the US – yet last year only 10,000 received it (that’s less than 4%). Protons are arguably the most advanced form of radiation therapy – yet there are only 19 active proton-therapy centers in the US today; compare with over 2,700 traditional (X-Ray) radiation therapy centers. The main barrier to widespread adoption is the large size (football stadium) and high cost ($150-250M) of building and operating a proton therapy center. Single-room solutions are slowly being introduced by some vendors for $30-50M. The key to making protons available to every patient in every midsize hospital is a scalable, add-on, single-room solution for half the current price tag or less. HIL’s technological breakthrough promises to bring about this revolution.

Sunesis Pharmaceuticals Announces Support of First-Ever Acute Myeloid Leukemia Awareness Month in June

On May 25, 2016 Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) reported its support for the first-ever Acute Myeloid Leukemia Awareness Month to be held in June. The goal of the campaign, which is being sponsored by CancerCare, is to put a spotlight on the disease, a rare and difficult-to-treat blood cancer that typically affects older adults (Press release, Sunesis, MAY 25, 2016, View Source;p=RssLanding&cat=news&id=2172293 [SID:1234512773]).

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Acute Myeloid Leukemia (AML) is a cancer of the blood and bone marrow and can worsen quickly if left untreated. According to the National Institutes of Health, it is estimated that there will be 19,950 new cases of acute myeloid leukemia in 2016 and an estimated 10,430 people will die from the disease. AML is more common in older adults, who are also the most difficult to treat, with 67 as the median age of diagnosis. While progress in treating leukemia has been made, there has been only one AML treatment approved by the U.S. Food and Drug Administration in the past 30 years (and that drug was subsequently withdrawn from the market).

Patricia J. Goldsmith, CEO of CancerCare, said, "AML Awareness Month will feature in-depth information about AML on the organization’s website, including a video that features NBA broadcaster Craig Sager who is battling the disease, as well as his son, Craig, Jr., who donated his bone marrow twice in an effort to save his father. The website will also offer people living with AML and their caregivers easy-to-use, informative resources to understand their condition. We thank Sunesis Pharmaceuticals for their unrestricted educational grant which has helped to support the development of these resources."

"We are delighted to be supporting CancerCare’s efforts to raise awareness of acute myeloid leukemia," said Daniel Swisher, Chief Executive Officer of Sunesis. "Because it is a rare disease with an older patient population, there has been little attention focused on AML. As a company that is determined to deliver a new treatment option for this disease, we want to support the AML community by helping to provide more education and information for patients and caregivers."

Goldsmith added, "The AML community’s voice has not always been heard because the disease itself is so rare and the mortality rate is so high. We hope to put a spotlight on AML in June and help focus attention on the urgent need these patients and their families have for hope."

Patients and caregivers can find educational resources on AML online at www.cancercare.org; an unrestricted educational grant from Sunesis has helped to support the development of the informational resources on AML which also includes a patient and caregiver workshop webinar to be held on June 17.

About CancerCare

Founded in 1944, CancerCare is the leading national organization providing free, professional support services and information to help people manage the emotional, practical and financial challenges of cancer. Our comprehensive services include counseling and support groups over the phone, online and in-person, educational workshops, publications and financial and co-payment assistance. All CancerCare services are provided by oncology social workers and world-leading cancer experts. Headquartered in New York, NY, CancerCare maintains three additional locations in Norwalk, CT, Ridgewood, NJ and Syosset, NY.