Genmab and Tempus Enter into Strategic Collaboration Agreement

On September 9, 2019 Genmab A/S (Nasdaq: GMAB) reported that it has entered into a strategic collaboration agreement with Tempus, a privately-owned technology company advancing precision medicine through the practical application of artificial intelligence in healthcare (Press release, Genmab, SEP 9, 2019, View Source [SID1234539371]). The multi-year collaboration will combine Tempus’ sequencing capabilities and industry-leading platform of integrated clinical and molecular data with Genmab’s state-of-the-art translational, biomarker and target discovery expertise. The companies will work together, based upon novel insights identified by Genmab, to advance new disease targets and biomarkers that may have the potential to generate new treatments in oncology.

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This new strategic collaboration builds upon existing service agreements between the companies. Under the terms of the collaboration agreement, the companies will jointly work on research projects that are identified by Genmab to explore novel product concepts and biomarkers. For any resulting products, Genmab will lead all development and commercial activities. Tempus will be eligible for undisclosed milestones and royalties from Genmab and will also have the option to fund part of product development programs in exchange for increased royalty payments due to Tempus under the agreement.

"Tempus has built the world’s largest library of clinical and molecular data, is a leader in the field of personalized medicine and like Genmab, Tempus has a mission to improve the lives of cancer patients. We are looking forward to expanding our exciting partnership with them and to the possibility of discovering important new oncology targets and biomarkers," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

Today’s news does not impact Genmab’s 2019 Financial Guidance.

Lilly Announces Positive Results for Selpercatinib (LOXO-292), Demonstrating a 68 Percent Objective Response Rate and Sustained Durability in Heavily Pretreated RET Fusion-Positive Non-Small Cell Lung Cancer

On September 9, 2019 Eli Lilly and Company (NYSE: LLY) reported data from the LIBRETTO-001 clinical trial intended to support the registration of oral selpercatinib[1] monotherapy, also known as LOXO-292, for the treatment of RET fusion-positive non-small cell lung cancer (NSCLC) (Press release, Eli Lilly, SEP 9, 2019, View Source [SID1234539370]). In the registration dataset consisting of the first 105 enrolled RET fusion-positive NSCLC patients with prior platinum-based chemotherapy, selpercatinib treatment resulted in a 68 percent objective response rate (ORR) (95% CI: 58-76%). This population was heavily pretreated (median of three prior systemic regimens; 55 percent previously treated with an anti-PD-1/PD-L1 antibody and 48 percent previously treated with at least one multikinase inhibitor) and ORR was similar regardless of prior therapy. Up to 50 percent of RET fusion-positive NSCLCs can metastasize to the brain, and in the subset of patients with brain metastases in the registrational dataset, selpercatinib treatment demonstrated a CNS (Central Nervous System) ORR of 91 percent (95% CI: 59-100%).

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As of the data cut-off date of June 17, 2019, median duration of response (DOR) was 20.3 months (95% CI: 13.8-24.0) and median progression-free survival (PFS) was 18.4 months (95% CI: 12.9-24.9). Since the majority of patients remain in response or progression-free as of the data cut-off date, these medians will continue to mature over time. In a safety analysis of all 531 patients enrolled to LIBRETTO-001, selpercatinib was well-tolerated, with only 9 patients (1.7%) discontinuing therapy due to treatment-related toxicity. The most commonly observed adverse events, regardless of attribution, were dry mouth, diarrhea, hypertension, increased liver enzymes, fatigue, constipation, and headache. These results were presented in the Presidential Symposium Session at the 2019 World Conference on Lung Cancer (WCLC) in Barcelona, Spain, hosted by the International Association for the Study of Lung Cancer (IASLC). Selpercatinib has received breakthrough therapy designation from the U.S. Food and Drug Administration.

"In this large cohort, selpercatinib’s response rate, durability, robust CNS activity, and safety show promise. Furthermore, this continues to confirm that RET fusions are clinically targetable alterations, placing them in the company of activating EGFR/ALK/ROS1 alterations. We are encouraged by these data as there is currently an unmet need to provide genomically-tailored therapy to patients with RET fusion-positive NSCLCs," said Alexander Drilon, M.D., lead investigator, Memorial Sloan Kettering Cancer Center in New York City.

Additional Data in Treatment-Naïve RET Fusion-Positive NSCLC Patients
Investigators also presented the results of selpercatinib in treatment-naïve RET fusion-positive NSCLC patients. In this analysis of 34 patients, selpercatinib treatment resulted in an 85 percent ORR (95% CI: 69-95%). Median DOR and PFS were not reached in this treatment-naïve population, as the majority of patients remain in response or progression-free.

"We’re seeing the importance of precision medicines, designed for specific patients, grow in oncology," said Anne White, president of Lilly Oncology. "The data from LIBRETTO-001 show that selpercatinib, also known as LOXO-292, represents an important new advance for patients with RET fusion-positive non-small cell lung cancer, emblematic of the kinds of new oncology medicines we hope to continue to bring forward at Lilly Oncology. We’re very excited to partner with Loxo Oncology to continue to accelerate this important medicine. In two and half years, Loxo Oncology advanced this molecule from first human dose to submission ready data, demonstrating the power of precision oncology to rapidly translate scientific discovery into treatments for patients."

"When we first started the selpercatinib discovery program, we hoped to build a RET inhibitor that would deliver for patients with RET-altered cancers in the way that medicines such as osimertinib and alectinib have delivered for EGFR-mutated and ALK-fusion patients, respectively. We believe that the selpercatinib data presented at World Lung validate these efforts," said Josh Bilenker, M.D., interim senior vice president of oncology research and early phase development at Lilly, and CEO of Loxo Oncology, a wholly owned subsidiary of Lilly. "We look forward to submitting the NDA later this year, and should selpercatinib receive regulatory approval, patients with RET fusion-positive NSCLC will finally have their first genomically-guided medicine."

Trial Background
The LIBRETTO-001 Phase 1/2 trial is the largest clinical trial of patients with RET-altered cancers treated with a RET inhibitor. The trial includes a dose escalation phase (Phase 1) and a dose expansion phase (Phase 2). The Phase 2 portion of the trial had a primary endpoint of objective response rate (ORR) and secondary endpoints of duration of response, progression free survival and safety. The primary analysis set for NSCLC regulatory submissions, as defined with the U.S. Food and Drug Administration, consists of the first 105 enrolled patients with RET fusion-positive non-small cell lung cancer who have experienced prior platinum-based chemotherapy. All data presented at WCLC were as of a data cut-off date of June 17, 2019, and all efficacy measures utilized investigator assessments.

About Selpercatinib (LOXO-292)
Selpercatinib, also known as LOXO-292, is a highly selective and potent, oral investigational new medicine in clinical development for the treatment of patients with cancers that harbor abnormalities in the rearranged during transfection (RET) kinase. RET fusions and mutations occur across multiple tumor types with varying frequency. Selpercatinib was designed to inhibit native RET signaling as well as anticipated acquired resistance mechanisms.

Selpercatinib has received breakthrough designation for the treatment of patients with:

Metastatic RET fusion-positive non-small cell lung cancer who require systemic therapy and have progressed following platinum-based chemotherapy and an anti-PD-1 or anti-PD-L1 therapy;
RET-mutant medullary thyroid cancer (MTC) who require systemic therapy, have progressed following prior treatment and have no acceptable alternative treatment options; and for
Advanced RET-fusion-positive thyroid cancer who require systemic therapy, have progressed following prior treatment and have no acceptable alternative treatment options.
About RET-Altered Cancers
Genomic alterations in RET kinase, which include fusions and activating point mutations, lead to overactive RET signaling and uncontrolled cell growth. RET fusions have been identified in approximately 2 percent of non-small cell lung cancer, 10-20 percent of papillary and other thyroid cancers and a subset of other cancers. Activating RET point mutations account for approximately 60 percent of MTC. RET fusion-positive cancers and RET-mutant MTC are primarily dependent on this single activated kinase for their proliferation and survival. This dependency, often referred to as "oncogene addiction," renders such tumors highly susceptible to small molecule inhibitors targeting RET.

Avelas Biosciences to Present at Upcoming Conferences in September

On September 9, 2019 Avelas Biosciences, Inc., a clinical-stage oncology company developing AVB-620 for real-time cancer detection, reported that it will be presenting at two upcoming conferences in the month of September (Press release, Athenex, SEP 9, 2019, View Source [SID1234539369]).

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Plastic Surgery The Meeting, September 19-23, 2019

Dr. Steven Chen, Avelas’ Chief Medical Officer, will be participating in a "Hot Topics" session at the 88th Annual Plastic Surgery The Meeting on Thursday, September 19, 2019, in San Diego, CA. The session will discuss the latest cutting-edge research and applied technology of interest to plastic surgeons.

The MedTech Conference, September 23-25, 2019

On Tuesday, September 24, 2019, Jay Lichter, Avelas’ Chief Executive Officer, will be participating in the MedTech Innovator Showcase (Oncology) panel session at The MedTech Conference in Boston, MA. The session will be held in Hall B, 500 Aisle from 10:30-11:00am.

As part of its participation in the MedTech Showcase program, Avelas has also submitted a pitch video to the MedTech Innovator Best Video Competition. Avelas’ video can be viewed below.

Throughout the three-day conference, Avelas will be available for partnering. Interested parties may reach out to the company through The MedTech Connect networking platform or directly contact Will Stratton, Avelas’ Head of Business Development ([email protected]).

Athenex, Inc. Corporate Presentation

On September 9, 2019, Athenex, Inc. presented the corporate presentation (Presentation, Athenex, SEP 9, 2019, View Source [SID1234539367]).

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Advaxis Reports Fiscal Third Quarter 2019 Financial Results and Provides Pipeline Update

On September 9, 2019 Advaxis, Inc. (Nasdaq: ADXS), a clinical-stage biotechnology company focused on the discovery, development and commercialization of immunotherapy products, reported an update on its clinical pipeline and financial results for the fiscal third quarter ended July 31, 2019 (Press release, Advaxis, SEP 9, 2019, View Source [SID1234539366]).

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Key corporate and clinical pipeline updates include:

Completed enrollment of the first dose level in Part A of the Phase 1/2 trial with ADXS-503 monotherapy ("HOT Lung") being studied in patients with non-small cell lung cancer and set to begin enrolling patients simultaneously in the second dose level of Part A as well as Part B, a combination arm consisting of ADXS-503 plus a checkpoint inhibitor.
Received $17 million in gross proceeds from an underwritten public offering.
Presented early immune response and clinical data from the Phase 1 ADXS-NEO study, an open-label, dose-escalation, multicenter clinical trial. Preliminary direct ELISpot data showed that CD8+ T cell reactivity was generated in >90% of neoantigen pools from four patients so far treated (i.e., 1X 109 colony forming units (CFU) (n=2) and 1X108 CFU (n=2)) as well as antigen spreading. Initial deconvoluted ELISpot data from the second patient treated at 1X 109 CFU showed a hit rate of up to 90% of personalized antigen targets in the ADXS-NEO vectors. In addition, hotspot mutations were identified in all four patients treated in this study with CD8+ T cells generated against the hotspot mutations in the two evaluated patients’ tumors serving as an important proof-of-mechanism for the Company’s HOT program. To date, dosing of ADXS-NEO at 1×108 CFU has been safe, tolerable and immunogenic in two patients. ADXS-NEO dosed at 1×109 CFU was beyond the maximum tolerated dose with reversible Grade 3 hypoxia (n=2) and Grade 3 hypotension (n=1) dose-limiting toxicities.
Presented two posters at the Frontiers in Cancer Immunotherapy conference at the New York Academy of Sciences with updated data from previous presentations at the recent American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting. Findings from the first poster, "Effects of ADXS-PSA With or Without Pembrolizumab on Survival and Antigen Spreading in Metastatic, Castration-Resistant Prostate Cancer Patients (Results from KEYNOTE-046)," showed prolonged survival in prostate cancer patients with advanced and microsatellite-stable (MSS) disease, a subset of patients that are unlikely to respond to checkpoint inhibitors. The combination of ADXS-PSA and pembrolizumab appeared safe and tolerable in this heavily pretreated population of patients with metastatic castration-resistant prostate cancer. The majority of treatment-related adverse events consisted of transient and reversible Grade 1-2 chills/rigors, fever, hypotension, nausea and fatigue with no additive toxicity. Data from the second poster, "Safety and Immunogenicity of a Personalized Neoantigen-Listeria Vaccine in Cancer Patients" include further data from ADXS-NEO showing two MSS colorectal cancer patients dosed with ADXS-NEO at 1×108 CFU demonstrating increased CD8+ T cell infiltration in the tumor microenvironment after three doses of ADXS-NEO. Both patients had MSS metastatic colorectal cancer, which is considered to be a "cold" tumor that typically exhibits little CD8+ T cell infiltration along with resistance to immunotherapy, yet the preliminary results from both suggested a successful transition from "cold" tumors into "hot" tumors with ADXS-NEO therapy. An estimated 80-85% of colorectal cancer patients are MSS.
Reduced operating expenses for the nine months ended July 31, 2019 by $24.6 million, or 46%, compared to the prior year’s comparable period.
Management Commentary

"We believe the data generated from our ADXS-NEO program has provided valuable immunological insight that will be applicable across our neoantigen programs," said Kenneth A. Berlin, President and Chief Executive Officer of Advaxis. "Specifically, we are increasingly excited by the potential of our investigational ADXS-HOT program to provide a rapidly available, off-the-shelf immunotherapy to patients and believe that the generation of CD8+ T cells against hotspot mutations in the NEO program serves as an important proof-of-mechanism for this approach. In addition, we are thrilled to see consistent antigen spreading across our programs which is an important driver of clinical response."

Mr. Berlin continued, "We have continued our efforts to reduce cash burn and increase efficiencies, and with our improved cash position we will continue to focus our efforts on those programs most likely to improve patient outcomes and create shareholder value. We look forward to providing a more detailed pipeline update next month with important details relevant to the advancement of our innovative immunotherapy clinical programs."

Fiscal Third Quarter Ended July 31, 2019 Financial Results

Research and development expenses for the third quarter of fiscal year 2019 were $7.1 million, compared with $10.6 million for the third quarter of fiscal year 2018. The decrease is largely attributable to the wind down of its Phase 3 clinical trial in high-risk, locally advanced cervical cancer, as announced in June 2019.

General and administrative expenses for the three months ended July 31, 2019 decreased approximately $1.7 million, or 35%, compared to the same three-month period in 2018. In June 2018, the Company began instituting measures to control costs for non-essential items in areas that do not support the strategic direction of the company. The decrease in expenses in these areas is a direct result of these cost control measures.

As of July 31, 2019, the Company had approximately $41.8 million in cash and cash equivalents. The Company believes this is sufficient capital to fund its obligations, as they become due, in the ordinary course of business until at least September 2020.