On February 14, 2020 AskAt received an Official Decision of Grant issued on January 20, 2020 from the Russian Federal Service for Intellectual Property, Patents and Trademarks (Rospatent) in connection with Application No. 2018117891, a use patent for AskAt’s EP4 receptor antagonists in the treatment of NASH-associated liver cancer (Press release, AskAt, FEB 14, 2020, View Source [SID1234554283]).

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On February 13, 2020 Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) ("Navidea" or the "Company"), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, reported that they have executed agreements with two existing investors, including John K. Scott, Jr. (collectively, the "Investors"), to purchase approximately 4.0 million shares of the Company’s common stock, par value $0.001 per share, for aggregate gross proceeds to Navidea of approximately $3.4 million (Press release, Navidea Biopharmaceuticals, FEB 13, 2020, View Source [SID1234554362]). The securities to be issued to the Investors will represent approximately 16.5% of the Company’s outstanding common stock after such issuance.

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In addition, the Company executed a binding term sheet to sell the judgment entered by the Ohio Court of Common Pleas in favor of Navidea in the amount of $4.3 million plus interest (the "Judgment"), for $4.2 million of proceeds to Navidea. The Company has the option, within 45 days of the sale, to repurchase the Judgment for a 10% premium. Such repurchase option may be in the form of the Company’s common stock at a 10% discount to the then-current market price.

Navidea intends to use the net proceeds from these transactions to fund its research and development programs, including continued advancement its two Phase 2b and Phase 3 clinical trials of Tc99m tilmanocept in patients with rheumatoid arthritis, and for general working capital purposes and other operating expenses.

John K. Scott commented, "I continue to support management and the Board of Directors. They have made great strides over the past 18 months to move Navidea into its next chapter of success. My family and I look forward to the continued development of Navidea’s rheumatoid arthritis and pipeline assets."

"This financing allows Navidea to advance through several key milestones and maintain our NYSE listing," commented Jed Latkin, Chief Executive Officer of Navidea. "We’re pleased to continue to receive support from current shareholders and look forward to providing updates as the company moves ahead. Navidea is encouraged with the clinical study results announced in the fourth quarter, and we will provide further update on the third cohort as the data is finalized. We are moving ahead as planned and thank our shareholders for their support during this time."

The securities offered and to be sold by Navidea in the private placement to Mr. Scott have not been registered under the Securities Act of 1933 (the "Securities Act"), as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from registration requirements. Navidea has agreed to file a registration statement with the SEC covering the resale of the shares of common stock to be issued to Mr. Scott.

The shares of common stock being offered and sold to the other existing investor are being issued pursuant to a shelf registration statement previously filed with and declared effective by the SEC. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Navidea’s securities. No offer, solicitation or sale will be made in any state or other jurisdiction in which such offering, solicitation or sale would be unlawful.

On February 13, 2020 Genetron Holdings of Beijing reported that it received NMPA approval to launch its 8-gene Lung Cancer Assay along with a high-throughput NGS platform, the GENETRON S2000 (Press release, ChinaBio, FEB 13, 2020, View Source [SID1234554358]). Genetron, a precision oncology diagnostics company, said the new assay is fast and easy-to-use with a One-Step Seq technology suited for high-throughput clinical testing centers such as large hospitals and regional medical testing centers. Genetron’s services include risk assessment, early screening, molecular pathology diagnosis, medication guidance and prognosis monitoring. The company has raised $132 million in C and D rounds over the last two years.

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On February 13, 2020 Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a biotechnology company focused on precisely targeted bacteriophage therapeutics for antibiotic-resistant infections, reported that it has completed the first closing under a recently executed Securities Purchase Agreement with Innoviva, Inc. (NASDAQ: INVA) ("Innoviva"), a company with a portfolio of royalties that include respiratory assets partnered with Glaxo Group Limited (Press release, AmpliPhi Biosciences, FEB 13, 2020, View Source [SID1234554282]). In connection with the closing, Armata issued 993,139 common shares and warrants to purchase 993,139 common shares in exchange for net proceeds of approximately $2.8 million. The first closing occurred following the satisfaction of certain closing conditions, including the execution of voting agreements by greater than 50.1% of the existing common stockholders of Armata in support of the $25 million private placement financing transaction. In connection with the closing, Richard Bear and Michael S. Perry, D.V.M., Ph.D., resigned from Armata’s Board of Directors and two individuals designated by Innoviva, Sarah Schlesinger, M.D. and Odysseas Kostas, M.D., were appointed to fill the newly created vacancies. Armata also announced that it has withdrawn its registration statement on Form S-1 that was previously filed with the SEC.

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"We are very pleased to close the first tranche of this Securities Purchase Agreement with Innoviva, and, together with my fellow Directors, we welcome Drs. Kostas and Schlesinger to our Board," stated Todd R. Patrick, Chief Executive Officer of Armata. "These additional funds significantly strengthen our financial position and provide ample cash runway to pursue meaningful clinical and corporate milestones in 2020 and 2021. We are very fortunate to partner with Innoviva and we look forward to mutual success as we advance our emerging bacteriophage platform to treat the growing global health challenge of multi-drug resistant infections."

Pursuant to and subject to the terms and conditions of the Securities Purchase Agreement and related agreements, Innoviva will purchase a total of approximately 8.7 million newly issued shares of Armata’s common stock, at a price of $2.87 per share, and warrants to purchase up to approximately 8.7 million additional shares of Armata’s common stock, at an exercise price of $2.87 per share. The stock purchases will occur in two tranches, the first of which has now been completed. Upon the closing of the second tranche, which is expected to occur during the first quarter of 2020, subject to the satisfaction or waiver of certain closing conditions, including approval by Armata shareholders, Innoviva will purchase approximately 7.7 million additional shares of common stock and warrants to purchase approximately 7.7 million additional shares of common stock for an aggregate purchase price of $22.2 million.

Immediately following the closing of the second tranche, expected in the first quarter of 2020, Armata will have approximately 18.6 million shares of common stock and warrants exercisable for approximately 10.6 million shares of common stock outstanding. The Company expects the proceeds from the offering to provide sufficient cash resources to achieve meaningful clinical milestones in 2020 and 2021.

This release does not constitute an offer to sell or the solicitation of an offer to buy any security. The shares offered have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States or any state thereof absent registration under the securities act and applicable state securities laws or an applicable exemption from registration requirements.

On February 13, 2020 Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, reported that its portfolio investment company Kannalife, Inc. ("Kannalife") (OTC: KLFE), a biopharmaceutical company specializing in the research and development of cannabinoid therapeutics, has completed its phase 1 study funded by a grant (1R41DA044898-01) from the National Institutes of Health’s (NIH) National Institute on Drug Abuse (NIDA) (Press release, Medical Marijuana Sciences, FEB 13, 2020, https://www.prnewswire.com/news-releases/medical-marijuana-inc-portfolio-investment-company-kannalife-inc-announces-completion-of-nih-nida-phase-1-grant-and-results-from-temple-university-301004359.html [SID1234554333]).

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The study was performed by Kannalife and the Lewis Katz School of Medicine at Temple University (LKSOM) to assess KLS-13019, Kannalife’s patented cannabidiol (CBD)-like molecule, as a potential treatment of neuropathic pain and drug dependence.

"KLS-13019 continues to show potential as a much-needed treatment for CIPN," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. "According to a recent study conducted by RRI, it is estimated that the total global neuropathic pain market will be worth more than $8.3 billion by 2024."

The pre-clinical grant study was performed in an animal model to evaluate the potential use of KLS-13019 as a potent, non-opioid alternative in the prevention and reversal of chemotherapy-induced peripheral neuropathy (CIPN). The animal model portion of the study was conducted by Sara Jane Ward, Ph.D., Assistant Professor of Pharmacology at LKSOM.

"These recent study results suggest that Kannalife’s proprietary CBD-like molecule is at least as effective as CBD in preventing neuropathic pain in animal models. Even further, KLS-13019 goes a step further than CBD by showing the potential to reverse neuropathic pain," said Dean Petkanas, CEO of Kannalife. "Kannalife looks to bring effective new treatment options to market as soon as possible and this research puts us one step closer to that goal."

The completed study could lead to a Phase 2 grant and further advances Kannalife’s belief that KLS-13019 could become a viable drug candidate, and an alternative to opioids, as a treatment for patients suffering from CIPN and chronic pain management.

The research reported in this press release was supported by the National Institute on Drug Abuse (NIDA) of the National Institutes of Health (NIH) in the amount of $299,916 under award number 1R41DA044898-01.

The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.

About KLS-13019
KLS-13019 is Kannalife’s leading proprietary investigational CBD-like product for the potential treatment of a range of neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 has not been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. Its safety and efficacy have not been confirmed by FDA-approved research.