The EU approves Tagrisso for 1st-line treatment of EGFR-mutated non-small cell lung cancer

On June 8, 2018 The European Commission has granted marketing authorisation for Tagrisso (osimertinib) as monotherapy for the 1st-line treatment of adult patients with locally-advanced or metastatic non-small cell lung cancer (NSCLC) with activating epidermal growth factor receptor (EGFR) mutations (Press release, AstraZeneca, JUN 8, 2018, View Source [SID1234527242]). The approval is based on results from the Phase III FLAURA trial published in the New England Journal of Medicine.

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Dave Fredrickson, Executive Vice President, Head of the Oncology Business Unit at AstraZeneca, said: "Today’s approval is an exciting advance in bringing a potential new standard of care to patients with EGFR-mutated NSCLC in the EU. This milestone is also a step forward for our Company, marking another regional approval for Tagrisso in the 1st-line setting."

Dr. David Planchard, Associate Professor of Medicine, Head of Thoracic Group, Gustave Roussy cancer center, France said: "The FLAURA trial is changing medical practice in the 1st-line treatment of EGFR-mutated NSCLC. The progression-free survival benefit seen in the trial is unprecedented for patients with an EGFR mutation, and this benefit was consistent across all subgroups including in patients with or without central nervous system metastases. Further, the preliminary overall survival data, while not statistically significant at the time of the interim analysis, is promising, with a 37 percent reduction in the risk of death."

The approval follows the positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency.

Safety data for Tagrisso from the FLAURA, AURA3, AURA and AURA2 trials were evaluated. Tagrisso was well tolerated, with most adverse reactions Grade 1 or 2 in severity. In all patients, the most common adverse reactions were decreased leucocytes (68% [1.5% Grade ≥3]), decreased lymphocytes (67% [7.2% Grade ≥3]), decreased platelet count (54% [1.6% Grade ≥3]), diarrhoea (49% [1.2% Grade ≥3]), rash (47% [0.9% Grade ≥3]), decreased neutrophils (35% [4.1% Grade ≥3]), dry skin (33% [0.1% Grade ≥3]), paronychia (31% [0.3% Grade ≥3]), stomatitis (20% [0.2% Grade ≥3]), and pruritus (17% [0.1% Grade ≥3]).

In the EU, Tagrisso is already indicated for the treatment of patients with locally-advanced or metastatic EGFR T790M mutation-positive NSCLC. Today’s approval follows the recent approvals of Tagrisso for the 1st-line treatment of patients with metastatic EGFR-mutated (EGFRm) NSCLC in the US, Brazil and the Russian Federation. Tagrisso is also under regulatory review in Japan for use in the 1st-line treatment setting with a decision anticipated in the second half of 2018, with other global health authority reviews and submissions ongoing.

Notes to Editors
About NSCLC

Lung cancer is the leading cause of cancer death among both men and women, accounting for about one-fifth of all cancer deaths, more than breast, prostate and colorectal cancers combined. Approximately 10-15% of patients in the US and Europe, and 30-40% of patients in Asia have EGFR-mutated (EGFRm) NSCLC. These patients are particularly sensitive to treatment with EGFR-TKIs, which block the cell-signalling pathways that drive the growth of tumour cells. Tumours almost always develop resistance to EGFR-TKI treatment, however, leading to disease progression. Approximately half of patients develop resistance to approved EGFR-TKIs such as gefitinib, erlotinib and afatinib due to the EGFR T790M resistance mutation. There is also a need for medicines with improved CNS efficacy, since approximately 25% of patients with EGFRm NSCLC have brain metastases at diagnosis, increasing to approximately 40% within two years of diagnosis.

About Tagrisso

Tagrisso (osimertinib) is a third-generation, irreversible EGFR-TKI designed to inhibit both EGFR-sensitising and EGFR T790M-resistance mutations, with clinical activity against CNS metastases. Tagrisso 40mg and 80mg once-daily oral tablets have been approved in four countries, including the US and EU, for 1st-line EGFRm advanced NSCLC, and in more than 75 countries including the US, EU, Japan and China for patients with EGFR T790M mutation-positive advanced NSCLC. Tagrisso is also being tested in the adjuvant setting and in combination with other treatments.

About the FLAURA trial

The FLAURA trial assessed the efficacy and safety of Tagrisso 80mg once daily vs. standard-of-care EGFR-TKIs (either erlotinib [150mg orally, once daily] or gefitinib [250mg orally, once daily]) in previously-untreated patients with locally-advanced or metastatic EGFRm NSCLC. The trial was double-blinded and randomised, with 556 patients across 29 countries.

AbbVie Announces U.S. FDA Approval of VENCLEXTA® (venetoclax tablets) in Combination with Rituximab as a Fixed Duration Treatment for Chronic Lymphocytic Leukemia or Small Lymphocytic Lymphoma Patients Who Have Received One Prior Therapy

On June 8, 2018 AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, reported the U.S. Food and Drug Administration (FDA) has approved, under priority review, VENCLEXTA (venetoclax tablets) in combination with rituximab for the treatment of patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL), with or without 17p deletion, who have received at least one prior therapy (Press release, AbbVie, JUN 8, 2018, View Source [SID1234527241]).1

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The approval is based on MURANO Phase 3 clinical trial data which demonstrated a significant improvement in progression-free survival (PFS) for relapsed/refractory (R/R) CLL patients, reducing the risk of disease progression or death by 81 percent when compared to bendamustine in combination with rituximab, a standard of care chemoimmunotherapy regimen.1

Clinical trial patients who received VENCLEXTA plus rituximab also achieved an overall response rate (ORR) of 92 percent and those who received the chemoimmunotherapy regimen achieved an ORR of 72 percent.1

The safety profile of the combination is consistent with the known safety profile of VENCLEXTA. The most common adverse reactions (ARs), greater than or equal to 20 percent, with VENCLEXTA in combination with rituximab were neutropenia, diarrhea, upper respiratory tract infection, fatigue, cough and nausea.1

VENCLEXTA plus rituximab is the first oral-based, chemotherapy-free combination in CLL that allows patients an option for fixed treatment duration.

"VENCLEXTA now gives indicated patients a new opportunity to significantly reduce the risk of their disease progressing, compared to a current standard of care. This combination provides previously treated CLL or SLL patients with a chemotherapy-free, fixed duration treatment allowing patients the ability to stop treatment after approximately two years," said Michael Severino, M.D., executive vice president, research and development, and chief scientific officer, AbbVie. "This is an important step for patients and we look forward to continuing to provide new treatment options for people living with difficult-to-treat blood cancers."

VENCLEXTA has been granted four Breakthrough Therapy Designations (BTDs) from the FDA including for the combination treatment regimen of VENCLEXTA plus rituximab for patients with R/R CLL.2 The approval of the VENCLEXTA plus rituximab treatment regimen marks the second approval granted under priority review by the FDA for VENCLEXTA. Outside of the U.S., regulatory submissions to and reviews with health authorities are underway.

"The approval of the combination of VENCLEXTA plus rituximab for patients with relapsed/refractory CLL or SLL validates the results seen in the Phase 3 trial, including the significant improvement in progression-free survival over a standard of care comparator arm," said Prof. John Seymour, MBBS, Ph.D., lead investigator of the MURANO study and Director of Cancer Medicine at the Peter MacCallum Cancer Centre & Royal Melbourne Hospital in Australia. "Progression-free survival is considered a gold standard for demonstrating clinical benefit in oncology."

CLL is typically a slow-progressing cancer of the bone marrow and blood in which types of white blood cells called lymphocytes become cancerous and multiply abnormally.3 In the U.S., CLL accounts for more than 20,000 newly diagnosed cases of leukemia each year.3 SLL is closely related to CLL. However, unlike CLL, SLL cancer cells are typically found in the lymph nodes and spleen rather than the bone marrow and the blood. In the U.S., approximately 5,000 cases of SLL are diagnosed annually.4

The FDA has also approved expansion of the indication of VENCLEXTA as monotherapy for CLL or SLL patients, with or without 17p deletion, who have received one prior therapy. Previously, VENCLEXTA, the first B-cell lymphoma-2 (BCL-2) inhibitor in CLL, was approved under accelerated approval in the U.S. in April 2016 as a monotherapy for the treatment of patients with CLL with 17p deletion, as detected by an FDA-approved test, who have received at least one prior therapy.5 VENCLEXTA is being developed by AbbVie and Roche; it is jointly commercialized by AbbVie and Genentech, a member of the Roche Group, in the U.S. and by AbbVie outside of the U.S.

About the MURANO Study

A total of 389 patients with R/R CLL who had received at least one prior therapy were enrolled in the international, multicenter, open-label, randomized (1:1) MURANO study (NCT02005471). The study was designed to evaluate the efficacy and safety of VENCLEXTA in combination with rituximab (194 patients) compared with bendamustine in combination with rituximab (195 patients). The median age of patients in the trial was 65 years (range 22-85).1

Efficacy in the U.S. was based on PFS as assessed by an Independent Review Committee (IRC). Median PFS with VENCLEXTA in combination with rituximab was not reached, compared with 18.1 months for bendamustine in combination with rituximab (hazard ratio: 0.19; 95% confidence interval [CI]: 0.13, 0.28; P<0.0001). The median follow-up for PFS was 23.4 months (range: 0 to 37.4+ months). Additional efficacy endpoints included IRC-assessed response rate (defined as ORR, complete response [CR] plus complete response with incomplete marrow recovery [CRi], nodular partial response [nPR], or partial response [PR]) and overall survival (OS).1

The most common ARs (≥20 percent) of any grade for VENCLEXTA in combination with rituximab were neutropenia (65 percent), diarrhea (40 percent), upper respiratory tract infection (39 percent), fatigue (22 percent), cough (22 percent), and nausea (21 percent). In the VENCLEXTA plus rituximab arm, discontinuations due to any ARs occurred in 16 percent of patients, dose reduction in 15 percent, and dose interruption in 71 percent. In the bendamustine plus rituximab arm, ARs led to treatment discontinuation in 10 percent of patients, dose reduction in 15 percent, and dose interruption in 40 percent. In the VENCLEXTA in combination with rituximab arm, neutropenia led to dose interruption of VENCLEXTA in 46 percent of patients and discontinuations in 3 percent, and thrombocytopenia led to discontinuation in 3 percent of patients. In the VENCLEXTA in combination with rituximab arm, fatal ARs that occurred in the absence of disease progression and within 30 days of the last VENCLEXTA treatment and/or 90 days of last rituximab were reported in 2 percent (4/194) of patients. Serious ARs were reported in 46 percent of patients, with the most frequent (≥5 percent) being pneumonia (9 percent).1

About the Monotherapy Studies

M13-982 (NCT01889186) was a multicenter, open-label, single-arm clinical trial of 106 patients with CLL with 17p deletion who had received at least one prior therapy. The efficacy of VENCLEXTA was evaluated by ORR as assessed by an IRC using the International Workshop for Chronic Lymphocytic Leukemia (iwCLL) updated National Cancer Institute-sponsored Working Group (NCI-WG) guidelines (2008). The median time on treatment at the time of evaluation was 12.1 months (range: 0 to 21.5 months). Results showed the ORR was 80 percent (95% CI: 71, 87). The CR and CRi rates were 6 percent and 2 percent, respectively; and the nPR and PR rates were 3 percent and 70 percent. Time to first response (TTFR), duration of response (DOR), and MRD-negativity were also evaluated.1

M12-175 (NCT01328626) was a multicenter, open-label study that enrolled previously treated patients with CLL or SLL, including those with 17p deletion. Efficacy was evaluated in 67 patients (59 with CLL, 8 with SLL) according to 2008 iwCLL guidelines. The median duration of treatment at the time of evaluation was 22.1 months (range: 0.5 to 50.1 months). As assessed by an IRC, ORR was 71 percent (95% CI: 58, 82), CR+CRi rate was 7 percent, and PR rate was 64 percent. Based on investigator assessments, the ORR in patients with CLL was 80 percent (14 percent CR+CRi, 66 percent PR+nPR). For the 8 patients with SLL, the investigator assessed ORR was 100 percent.1

M14-032 (NCT02141282) was a multicenter, open-label study that evaluated the efficacy of VENCLEXTA in patients with CLL who had been previously treated with and progressed on or after ibrutinib or idelalisib. Efficacy was evaluated in 127 patients (91 with prior ibrutinib, 36 with prior idelalisib) according to 2008 iwCLL guidelines. At the time of analysis, the median duration of treatment was 14.3 months (range: 0.1 to 31.4 months). Based on IRC assessment, the ORR was 70 percent (95% CI: 61, 78), with a CR+CRi rate of 1 percent, and a PR rate of 69 percent. Based on investigator assessment, the ORR was 65 percent (95% CI: 56, 74).1

Safety was evaluated in a pooled dataset of 352 patients from the three monotherapy studies. Fatal ARs were reported in 2 percent of patients, most commonly (2 patients) from septic shock. Serious ARs were reported in 52 percent of patients, with the most frequent (≥5 percent) being pneumonia (9 percent), febrile neutropenia (5 percent), and sepsis (5 percent). Discontinuations due to ARs occurred in 9 percent of patients, and dose reductions due to ARs occurred in 13 percent of patients. The most common ARs (≥20 percent) any grade were neutropenia (50 percent), diarrhea (43 percent), nausea (42 percent), upper respiratory tract infection (36 percent), anemia (33 percent), fatigue (32 percent), thrombocytopenia (29 percent), musculoskeletal pain (29 percent), edema (22 percent), and cough (22 percent). The most common Grade 3 or 4 ARs (≥5 percent) were neutropenia (45 percent), thrombocytopenia (20 percent), anemia (18 percent), pneumonia (8 percent), lymphopenia (7 percent), and febrile neutropenia (6 percent).1

About VENCLEXTA (venetoclax tablets) (US)

VENCLEXTA is an oral BCL-2 inhibitor that targets a specific protein in the body called BCL-2.1 When you have CLL or SLL, BCL-2 may build up and prevent cancer cells from self-destructing naturally. VENCLEXTA targets BCL-2 in order to help restore the process of apoptosis.1

VENCLEXTA is being developed by AbbVie and Roche. It is jointly commercialized by AbbVie and Genentech, a member of the Roche Group, in the U.S. and by AbbVie outside of the U.S. Together, the companies are committed to BCL-2 research with venetoclax, which is currently being evaluated in clinical trials in several hematologic cancers.6, 7, 8, 9

VENCLEXTA (VENCLYXTO in the EU) is currently approved as a monotherapy in 53 nations, including the U.S. AbbVie, in collaboration with Roche and Genentech, is currently working with regulatory agencies around the world to bring this medicine to additional eligible patients in need.

In April 2016, the U.S. FDA first granted accelerated approval of VENCLEXTA for the treatment of patients with CLL with 17p deletion, as detected by an FDA-approved test, who have received at least one prior therapy.5 The FDA approved this indication under accelerated approval based on overall response rate.5 With this approval, VENCLEXTA is now approved for the treatment of patients with CLL or SLL, with or without 17p deletion, who have received at least one prior therapy in combination with rituximab or as monotherapy. 1

VENCLEXTA has been granted four Breakthrough Therapy Designations from the FDA including for the combination treatment regimen of VENCLEXTA plus rituximab for patients with CLL who have received at least one prior therapy.2 This designation is intended to expedite the development and review of therapies for serious or life-threatening conditions.10 The approval of the VENCLEXTA plus rituximab treatment regimen marks the second approval granted under priority review by the FDA for VENCLEXTA. In January 2016, AbbVie announced that the FDA granted priority review for the NDA application for single agent VENCLEXTA.

What is VENCLEXTA (venetoclax tablets)?
VENCLEXTA is a prescription medicine used to treat people with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL) with or without 17p deletion, who have received at least one prior treatment.

It is not known if VENCLEXTA is safe and effective in children.

Important VENCLEXTA (venetoclax tablets) US Safety Information

What is the most important information I should know about VENCLEXTA?
VENCLEXTA can cause serious side effects, including:
Tumor lysis syndrome (TLS). TLS is caused by the fast breakdown of cancer cells. TLS can cause kidney failure, the need for dialysis treatment, and may lead to death. Your health care provider will do tests to check your risk of getting TLS before starting and during treatment with VENCLEXTA to help reduce your risk of TLS. You may also need to receive intravenous (IV) fluids into your vein. Your health care provider will do blood tests in your first 5 weeks of treatment to check you for TLS during treatment with VENCLEXTA. It is important to keep your appointments for blood tests. Tell your health care provider right away if you have any symptoms of TLS during treatment with VENCLEXTA, including fever, chills, nausea, vomiting, confusion, shortness of breath, seizures, irregular heartbeat, dark or cloudy urine, unusual tiredness, or muscle or joint pain.

Drink plenty of water when taking VENCLEXTA to help reduce your risk of getting TLS. Drink 6 to 8 glasses (about 56 ounces total) of water each day, starting 2 days before your first dose, on the day of your first dose of VENCLEXTA, and each time your dose is increased.

Who should not take VENCLEXTA?
Certain medicines must not be taken when you first start taking VENCLEXTA and while your dose is being slowly increased because of the risk of increased tumor lysis syndrome.

Tell your health care provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. VENCLEXTA and other medicines may affect each other, causing serious side effects.
Do not start new medicines during treatment with VENCLEXTA without first talking with your health care provider.
Before taking VENCLEXTA, tell your health care provider about all of your medical conditions, including if you:

Have kidney or liver problems.
Have problems with your body salts or electrolytes, such as potassium, phosphorus, or calcium
Have a history of high uric acid levels in your blood or gout
Are scheduled to receive a vaccine. You should not receive a "live vaccine" before, during or after treatment with VENCLEXTA until your health care provider tells you it is okay. If you are not sure about the type of immunization or vaccine, ask your health care provider. These vaccines may not be safe or may not work as well during treatment with VENCLEXTA.
Are pregnant or plan to become pregnant. VENCLEXTA may harm your unborn baby. If you are able to become pregnant, your health care provider should do a pregnancy test before you start treatment with VENCLEXTA, and you should use effective birth control during treatment and for 30 days after the last dose of VENCLEXTA. If you become pregnant or think you are pregnant, tell your health care provider right away.
Are breastfeeding or plan to breastfeed. It is not known if VENCLEXTA passes into your breast milk. Do not breastfeed during treatment with VENCLEXTA.
What should I avoid while taking VENCLEXTA?
You should not drink grapefruit juice, eat grapefruit, Seville oranges (often used in marmalades), or starfruit while you are taking VENCLEXTA. These products may increase the amount of VENCLEXTA in your blood.

What are the possible side effects of VENCLEXTA?
VENCLEXTA can cause serious side effects, including:

Low white blood cell count (neutropenia). Low white blood cell counts are common with VENCLEXTA, but can also be severe. Your health care provider will do blood tests to check your blood counts during treatment with VENCLEXTA. Tell your health care provider right away if you have a fever or any signs of an infection while taking VENCLEXTA.
The most common side effects of VENCLEXTA when used in combination with rituximab include low white blood cell count, diarrhea, upper respiratory tract infection, cough, tiredness, and nausea.

The most common side effects of VENCLEXTA when used alone include low white blood cell count, diarrhea, nausea, upper respiratory tract infection, low red blood cell count, tiredness, low platelet count, muscle and joint pain, swelling of your arms, legs, hands, and feet, and cough.

The most common side effects of VENCLEXTA when used in combination with rituximab include diarrhea, nausea, upper respiratory tract infection and feeling tired.

VENCLEXTA may cause fertility problems in males. This may affect your ability to father a child. Talk to your health care provider if you have concerns about fertility.

These are not all the possible side effects of VENCLEXTA. Tell your health care provider if you have any side effect that bothers you or that does not go away.

People are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

The full U.S. prescribing information, including Medication Guide, for VENCLEXTA can be found here. Globally, prescribing information varies; refer to the individual country product label for complete information.

Emergent BioSolutions to Participate in the Goldman Sachs 39th Annual Global Healthcare Conference

On June 8, 2018 Emergent BioSolutions Inc. (NYSE:EBS) reported that a member of the company’s senior management team will present a corporate overview and discuss recent business developments during a fireside chat at the Goldman Sachs 39th Annual Global Healthcare Conference on June 13, 2018 at 2:00pm Pacific Time in Rancho Palos Verdes, California (Press release, Emergent BioSolutions, JUN 8, 2018, View Source;p=RssLanding&cat=news&id=2353843 [SID1234527240]).

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The audio portion of the fireside chat will be accessible live from the Investors page on the Emergent website www.emergentbiosolutions.com. The replay will be available for six months following the presentation.

Luye expanding I-O deal with U.S. firm Elpis to focus on CAR T therapies

On June 7, 2018 China’s Luye Pharma Group Ltd. reported that it has partnered up with U.S. biotech firm Elpis Biopharmaceuticals Corp. to work on dual target based therapies for cancer patients who fail to respond to current treatment (Press release, Luye Pharma, JUN 7, 2018, View Source [SID1234576655]). As a continuing effort of the collaboration initiated last year, the two companies signed a license agreement recently to jointly develop chimeric antigen receptor T-cell (CAR T) therapies and biologic drug candidates in immuno-oncology. "This is a global collaboration. Luye will be in charge of the development and commercialization of the co-developed products in China and will have the exclusive rights in the Chinese market," Sammy Jiang, vice president of strategy and business development at Luye, told BioWorld.

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"Elpis will be responsible for the same in the overseas market and have the exclusive rights in those markets," Jiang added. "With that said, we are still entitled to share the profits of our co-developed products in the overseas markets."

Luye and Elpis plan to build a long-term strategic partnership, working to discover and develop drug candidates, such as antibodies and CAR T therapies through the technologies developed by Elpis.

The great potential in Elpis’ in-house technology is one of the reasons Luye decided to collaborate with the Boston-based biotech firm. "Elpis’ founder has many years of experience in developing immuno-oncology drugs and CAR T therapies," Kehao Zhao, senior director of discovery biology at Luye Boston R&D, told BioWorld.

"Elpis developed a unique discovery platform to rapidly screen and develop fully human therapeutics antibodies. Their immuno-oncology expertise, particularly in CAR T therapeutics and antibody discovery technology, led to this collaboration in developing novel immuno-oncology drug candidates," Zhao added.

Their collaboration has already generated a compound that is at the IND-enabling preclinical study stage.

"The first CAR T therapy we co-developed with Elpis is dual target, which is technically more challenging to develop and can apply to broader disease areas compared with the single target CARTs. It holds more potential than the existing single target ones," said Zhao.

To treat cancer, activation of T cells through tumor-specific targeting has proved to be a powerful therapy, but still, more than half of the cancer patients fail to react to immune checkpoint inhibitors. Although currently approved CAR T targeting to single-target tumor-specific antigen has high response rate in hematological cancer treatment, many patients do not respond well or develop acquired resistance. The two companies hope to increase the effective response rate and overcome the resistance in treating cancer patients. "Besides the dual target CAR T therapies, under this partnership, we are also co-developing innovative next generation therapeutic antibodies to treat hematopoietic malignancies and solid tumors," said Zhao. "The project is currently in proof-of-concept stage. We hope to complete the animal trials by the end of this year. Then we can move it forward next year."

Growing U.S. presence

Joining the Boston team last year, Zhao carries the mission of introducing the latest technology and breakthroughs in the Boston area to Luye for its R&D of innovative drugs.

"While forming our own local R&D team in Boston, we are also seeking partners that possess advanced technologies," said Zhao. "We hope to develop innovative drugs on our own and through partnerships and internal efforts. Therefore, we can enhance our R&D capabilities for biologics and expand our development, striving for more presence in the global markets."

Luye is quickly advancing its biologics development. The company has launched five oncology products, including Tiandida (amifostine for injection) for advanced ovarian cancer or non-small-cell lung cancer, Tiandixin (lentinan for injection) for malignant tumors, Yitaida (arsenious acid and sodium chloride injection) for acute promyelocytic leukemia and primary advanced liver cancer, CMNa (sodium glycididazole for injection) for tumor radiotherapy, and Lipusu (paclitaxel liposome for injection) for ovarian cancer and metastatic ovarian cancer.

"We set our eye on biologics three years ago. Although there are a few chemical compounds in our pipeline, we plan to develop more biologics," said Jiang. "We don’t just focus on CAR T therapies, but the whole immuno-oncology area, so we think a lot about small-molecule drugs and antibodies as well." "We are also exploring the possibility of striking similar deals with other European companies that develop CAR T therapies," she added.

But before expanding into Europe, Luye has been enhancing its presence in the U.S. "We set up an office in New Jersey five years ago, which is responsible for clinical trials and new drug registrations," said Jiang. "Currently, we have four drug candidates in the U.S. that are undergoing clinical trials."

Luye has R&D centers in China, the U.S. and the EU and has five R&D platforms for long-acting and extended-release technology, liposome and targeted drug delivery, transdermal drug delivery system, new compounds and biological antibody technology.

"We actively expand our partnerships worldwide," said Jiang. "Our products are commercialized in more than 80 countries, either promoted by Luye’s in-house team or by our partners in the local markets."

LIDDS: Major European Investment Funds invest 21,7 MSEK in a direct share issue

On June 7, 2018 LIDDS AB (publ) reported that it has decided on a direct share issue to Nyenburgh Holding BV, AESCAP 2.0 and BWG Invest, all being international funds that invests in closely selected European biotech- and pharma companies (Press release, Lidds, JUN 7, 2018, View Source [SID1234555913]). The raised capital will facilitate a fast acceleration of LIDDS’ development projects, including the immune-oncology field where NanoZolid based immuno-active compounds have shown very promising preclinical effects.

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The direct issue of 1 180 000 shares will add approx. 21,7 MSEK to LIDDS. Nyenburgh Holding will maintain as the third largest shareholder in LIDDS and contributes with financial strength, an excellent network and expertize within the sector. AESCAP 2.0, based in Amsterdam, is a current shareholder in LIDDS that invests in next generation medicines and builds a selected portfolio of only 20 companies across Europe and the US. BWG Invest is a top ten shareholder in LIDDS and strengthens its shareholding position through this direct share issue.

The share price of 18,38 SEK is based on volume weighted average of the share price with a 5 % discount. The share issue decision is based on the shareholders authorization on LIDDS Annual Meeting on May 16, 2018.

– The directed share issue to Nyenburgh Holding, AESCAP 2.0 and BWG Invest is an important validation of the NanoZolid technology and we are very pleased to attract these funds to increase their ownership in LIDDS. The share issue adds longer term financing of the company, resources to reach key milestones in our development projects and provides additional financial strength to conduct an effective business development process, says Monica Wallter, CEO of LIDDS.

LIDDS total number of shares after the direct issue will be 23 051 188 and the share capital will amount to 1 221 712,964 SEK when the new shares are registered with the Swedish Companies Registration Office, Bolagsverket. The dilution of shares is 5,1 %.

LIDDS will with the raised capital further accelerate the exciting NanoZolid development projects with the aim to build alliances, collaborations and license agreements.

The directed share issue to Nyenburgh Holding, AESCAP 2.0 and BWG Invest is further strengthening LIDDS owner structure and it confirms the international interest for LIDDS and the NanoZolid technology.