On May 24, 2019 Surface Oncology (NASDAQ:SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment (TME), reported the presentation of updated preclinical findings regarding the anti-tumor effects of increasing inflammation and reducing extracellular adenosine in the TME (Press release, Surface Oncology, MAY 24, 2019, View Source/news-releases/news-release-details/surface-oncology-presents-preclinical-data-further-supporting" target="_blank" title="View Source/news-releases/news-release-details/surface-oncology-presents-preclinical-data-further-supporting" rel="nofollow">View Source [SID1234536573]). The data highlight the mechanisms of targeting CD73 and CD39, which are distinct targets in the adenosine axis and focal points of the Surface Oncology pipeline. The podium presentation, "Targeting the Adenosine Axis to Treat Cancer", was given by the Company’s vice president of cancer biology, Pamela Holland, Ph.D., at Brisbane Immunotherapy 2019 in Brisbane, Australia.

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"These data are supportive of our multi-faceted approach to targeting the adenosine axis. Pam’s presentation highlights additional validating data of the NZV930 program candidate, a highly potent enzymatic inhibitor of CD73, and its ability to block the production of extracellular adenosine in the TME," said Vito Palombella, Ph.D., chief scientific officer of Surface. "For CD39, this new in vivo data demonstrates that inhibition of CD39 upregulates inflammation in the TME, leading to an influx of innate immune cells to tumors, a compelling addition to the significant supporting evidence behind this program. Also, by reducing adenosine, in a manner similar to NZV930, we see increased proliferation of tumor-targeting T cells. These data show a dual mechanism of action for this monoclonal antibody candidate, whereby it invokes both the innate and adaptive arms of the immune system. We look forward to advancing our lead CD39 antibody, SRF617, into the clinic later in 2019."

Dr. Holland’s presentation is accessible on the Investors page of the Surface website at View Source

On May 24, 2019 Medtronic plc (NYSE:MDT), the global leader in medical technology, reported that it will participate in the Bernstein 35th Annual Strategic Decisions Conference on Wednesday, May 29, 2019, in New York City (Press release, Medtronic, MAY 24, 2019, View Source;p=RssLanding&cat=news&id=2399696 [SID1234536572]).

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Omar Ishrak, chairman and chief executive officer of Medtronic, will make a presentation and will answer questions about the company beginning at 10:00 a.m. EDT (9:00 a.m. CDT).

A live audio webcast of the presentation will be available on May 29, 2019, by clicking on the Investor Events link at View Source, and an archive of the session will be available on the same webpage later in the day.

On May 24, 2019 Insmed Incorporated (Nasdaq: INSM) reported the closing of the previously announced public offering of its common stock. Insmed issued and sold in the public offering 9,615,385 shares of common stock, at a public offering price of $26.00 per share, resulting in gross proceeds of approximately $250.0 million (Press release, Insmed, MAY 24, 2019, View Source [SID1234536571]). Insmed’s net proceeds from the offering, after deducting estimated offering expenses and underwriting discounts and commissions, were approximately $235.5 million. The underwriters have been granted 30-day options to purchase up to an additional 1,042,307 shares of common stock from Insmed and up to 400,000 shares of common stock from William H. Lewis, the Company’s Chairman and Chief Executive Officer.

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Insmed intends to use its net proceeds from this offering to continue to commercialize ARIKAYCE (amikacin liposome inhalation suspension); conduct further trials of ARIKAYCE, including Insmed’s required confirmatory trial to assess and describe the clinical benefit of ARIKAYCE in patients with Mycobacterium avium complex (MAC) lung disease; fund further clinical development of INS1007 and INS1009; invest in increased third-party manufacturing capacity for ARIKAYCE; fund business expansion activities in Europe and Japan; fund working capital, potential debt repayment, capital expenditures, and general research and development; and for other general corporate purposes, which may include the acquisition or in-license of additional compounds, product candidates, technology or businesses.

Morgan Stanley & Co. LLC, SVB Leerink LLC and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC, Stifel, Nicolaus & Company, Incorporated and H.C. Wainwright & Co. acted as co-managers for the offering.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (SEC), as amended by Post-Effective Amendment No. 1 thereto, and became automatically effective upon filing. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, telephone: 1-800-808-7525, ext. 6132 or email at [email protected]; and Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 1-212-902-9316 or email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale

would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

On May 24, 2019 FLX Bio, a clinical-stage, immunology-based biopharmaceutical company, reported it has changed its name to RAPT Therapeutics, Inc., to more accurately represent the company’s dedication and focused efforts to develop and commercialize oral small molecule therapies for patients with significant unmet needs in cancer and inflammatory diseases using its expertise in immunology, small molecule drug discovery and computational biology (Press release, FLX Bio, MAY 24, 2019, https://www.rapt.com/flx-bio-announces-name-change-to-rapt-therapeutics/ [SID1234536570]).

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"The name RAPT Therapeutics embodies our commitment to apply our proprietary discovery and development engine to advance highly selective, oral treatments that intelligently target key immune drivers to more effectively and safely treat cancer and inflammatory diseases, and importantly, improve the lives of patients," said Brian Wong, M.D., Ph.D., president and CEO of RAPT Therapeutics, Inc. "Since our founding, we have internally discovered and advanced two unique drug candidates that target CCR4, with FLX475 in development for the treatment of multiple cancers and RPT193 expected to enter clinical studies in the second half of 2019."

RAPT’s lead oncology drug candidate, FLX475, selectively inhibits the migration of immunosuppressive regulatory T cells (Treg) into tumors. In a Phase 1 clinical study in 104 healthy volunteers, FLX475 was well tolerated and demonstrated favorable drug like properties and target engagement. The company is currently conducting a Phase 1/2 clinical study investigating FLX475 as a single agent and in combination with pembrolizumab, a PD-1 antibody, in patients with "charged" tumors who the company believes have the greatest probability of clinical benefit. RAPT expects to generate proof-of-concept data from this study in the first half of 2020.

RAPT’s lead inflammation drug candidate, RPT193, selectively inhibits the migration of type 2 T helper cells (Th2) into allergically-inflamed tissues, which are clinically validated drivers of allergic diseases such as atopic dermatitis, asthma, chronic urticaria (skin rash), allergic conjunctivitis, rhinosinusitis and eosinophilic esophagitis (inflammation of the esophagus). In multiple preclinical models, oral administration of RPT193 demonstrated activity in reducing inflammation comparable with leading injectable biologics with validated clinical activity. Preclinical toxicology studies demonstrated a safety profile consistent with chronic dosing. RAPT believes the preclinical safety and efficacy results combined with the convenience of oral dosing support a profile competitive with standard of care, including steroids and dupilumab, as well as clinical product candidates, such as the JAK inhibitors. The company expects to file an investigational new drug (IND) application for this drug candidate in the second half of 2019 with initial clinical development planned for atopic dermatitis.

In addition, RAPT is identifying lead compounds that inhibit general control nonderepressible 2 (GCN2), which is a fundamental regulator of antitumor immunity and tumor cell survival. In preclinical studies, our lead molecule has demonstrated the ability to fully restore T-cell proliferation and function in nutrient-deprived conditions, enhance tumor cell death and elicit anti-tumor responses in preclinical tumor models. We anticipate filing an IND with the FDA in 2020.

RAPT is also pursuing a range of targets including HPK1 that are in the discovery stage of development.

On May 24, 2019 Alpine Immune Sciences, Inc. (NASDAQ: ALPN), a leading clinical-stage immunotherapy company focused on developing innovative treatments for cancer, autoimmune/inflammatory, and other diseases, reported the company will participate in three upcoming investor conferences in June (Press release, Alpine Immune Sciences, MAY 24, 2019, View Source [SID1234536569]).

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Jefferies 2019 Healthcare Conference

Date: Thursday, June 6, 2019

Time: 2:00 p.m. Eastern Time

Location: New York, NY

Raymond James Life Sciences and MedTech Conference

Date: Wednesday, June 19, 2019

Time: 1:15 p.m. Eastern Time

Location: New York, NY

JMP Securities Life Sciences Conference

Date: Thursday, June 20, 2019

Time: 1:30 p.m. Eastern Time

Location: New York, NY

A live webcast of each presentation will be available online in the investor relations section of the company’s website at View Source A replay of the presentations will be available on the company website for 90 days following the webcast.