New Small Cell Lung Cancer Drug Accepted for TGA Evaluation Under Project Orbis

On June 3, 2020 Specialised Therapeutics Asia reported that NOVEL marine-derived drug to treat Small Cell Lung Cancer (SCLC) has been granted a provisional designation by the Therapeutic Goods Administration (TGA), based on encouraging results from an international trial evaluating its safety and efficacy in several solid tumours, including SCLC (Press release, Specialised Therapeutics Asia, JUN 3, 2020, View Source [SID1234560810]).

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Data from a key Phase 2 study of the drug Lurbinectedin demonstrated a 35% overall response rate in second-line patients, with a median overall survival of 9.3 months (95% CI 6.3-11.8), which is a clinically meaningful advantage over current standard of care in patients in second-line SCLC therapy.[1]

These results also underpin a decision by the US Food and Drug Administration (FDA) granting Lurbinectedin a priority and accelerated review. Lurbinectedin will now be reviewed concurrently by the FDA and other international regulators, including the TGA, under the ‘Project Orbis’ initiative.

This multi-country collaboration between international regulators is designed to streamline approvals where there is a strong unmet medical need, predominantly in oncology and haematology. This project may enable cancer patients to receive expedited access to new therapies.

In tandem with the provisional designation, Lurbinectedin is now being investigated in patients at five cancer centres in Sydney, Melbourne and Queensland. All study subjects are SCLC patients who have relapsed after being treated with standard platinum-based chemotherapy, with or without immunotherapy.

A principal investigator on the new Australian study, Associate Professor Tom John at the Peter MacCallum Cancer Centre, said patients had few treatment options after failure of first-line therapy.

Associate Professor John commented: "The initial Lurbinectedin data are encouraging, and we will be collecting local data to see if it matches that seen in the international study. There is still a significant medical unmet need in Small Cell Lung Cancer. We welcome new treatment options for this difficult to treat patient population."

Lurbinectedin is being made available in Australia and Singapore by independent pharmaceutical company Specialised Therapeutics Asia (STA) under exclusive license from Spanish biopharmaceutical company PharmaMar.

STA Chief Executive Officer Mr Carlo Montagner described the TGA’s provisional designation for Lurbinectedin and review under the Project Orbis collaboration as "extremely encouraging".

"We welcome the provisional designation that acknowledges the encouraging data demonstrated to date and the high unmet medical need in patients with refractory SCLC," he said.

"We look forward to progressing Lurbinectedin through relevant regulatory channels in South East Asia and Australia / New Zealand as expeditiously as possible."

In the interim, STA will continue to make this compound available to eligible patients under a named co-pay Patient Access Program in our region."

Up to 1900 Australians[2] and 1100 Singapore residents are diagnosed with SCLC every year, representing approximately 15% of all lung cancers.[3]

BioMarin to Participate in Two Upcoming Virtual Investor Conferences

On June 3, 2020 BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) reported that Jean-Jacques Bienaimé, Chairman and Chief Executive Officer; Henry Fuchs, M.D., President, Worldwide Research & Development; and Brian Mueller, Acting Chief Financial Officer, will participate in the Jefferies Virtual Healthcare Conference on June 4, 2020 at 4:00pm ET and the Goldman Sachs 41st Annual Global Healthcare Conference on June 9, 2020 at 2:10pm ET (Press release, BioMarin, JUN 3, 2020, View Source [SID1234560809]). An audio webcast of the presentation will be available live. You can access the webcast at: View Source An archived version of the remarks will also be available through the Company’s website for a limited time following the conference.

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Selvita Raised Over EUR 20 Million in Its Follow-on Public Offer

On June 3, 2020 Selvita S.A. [ticker: WSE: SLV] – one of the largest preclinical contract research organizations in Europe, reported thhat it successfully allotted 2.38 million of C series shares, raising EUR 20.6 million from investors (Press release, Selvita, JUN 3, 2020, View Source [SID1234560808]). It is the second largest transaction in terms of capital raised, on the Warsaw Stock Exchange this year.

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As part of the Follow-On public offering of shares, investors could buy up to 2.38 million shares of the new C series, which constitutes about 15 percent of the current Company’s share capital. The issue price of the shares was set at PLN 38,00. The company has achieved in full its intended goal regarding capital raise that was presented in the strategy published together with the announcement of the shareholders’ meeting.

"The success of this share issue demonstrates investors’ confidence in both Selvita and the development strategy we have announced, as well as their trust in the large potential of the Company’s business. I would like to express my gratitude for the participation in the share issue, as well as supporting our strategic plans. Rest assured, that we will make every effort to execute the assumptions of our strategy and continue Selvita’s dynamic growth on the global preclinical CRO market," comments Bogusław Sieczkowski, co-founder and Chief Executive Officer at Selvita.

The capital raised will allow the Company to execute the development strategy adopted by the Company for the upcoming years which assumes that in 2023 the Company will be able to achieve over EUR 70 million in revenues at a stable EBITDA margin and as a consequence reach a market cap of over EUR 230 million. The proceeds from the share issue will be used mostly on acquisitions of selected European CROs (app. 16 million EUR), and the reminder of the proceeds will be devoted to further organic growth of Selvita.

Selvita is interested in companies which will either complement the current Selvita offering, or will allow for the expansion of its scale of operations. In terms of the qualitative criteria for choosing the acquisition target, Selvita will favor entities supplementing their portfolio of services in the area of drug discovery or regulatory studies. By the end of 2023, the Company intends to execute three acquisitions, with the first one taking place this year.

Over the next three years, the Company plans to invest EUR 35-50 million in the acquisitions.

As a key element supporting further organic growth, Selvita strategy includes establishment of the Selvita Research Center, with a research space of 4,000 m2. With the completion of the new Center, Selvita will have in aggregate 10,000 m2 of research space available. Own laboratories and strengthening the scientific staff, will allow Selvita to increase its scale of business, expand its offer and launch innovative new services. Initiation of the investment is planned for next year and expected to be finalized at the turn of 2022 and 2023.

IPOPEMA Securities S.A. acted as the global coordinator and bookrunner, and Chabasiewicz Kowalska & Partners law firm acted as the legal advisor.

AcelRx Pharmaceuticals Announces It Will Not Further Revise Its Offer to Acquire Tetraphase

On June 3, 2020 AcelRx Pharmaceuticals, Inc. (AcelRx) (Nasdaq: ACRX), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings, reported that it does not intend to revise further its offer under the terms of its previously announced agreement to acquire Tetraphase Pharmaceuticals, Inc. (Tetraphase) (NASDAQ: TTPH), and it expects the agreement to be terminated by Tetraphase (Press release, AcelRx Pharmaceuticals, JUN 3, 2020, View Source [SID1234560807]). On June 1, 2020, Tetraphase disclosed that its board of directors had determined that an amended proposal from Melinta Therapeutics, Inc. constituted a "Superior Offer" under the terms of the AcelRx Merger Agreement. Under the terms of the agreement, in connection with a termination of the merger agreement, AcelRx will be paid a break-up fee of approximately $1.8 million.

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Vince Angotti, Chief Executive Officer at AcelRx said, "AcelRx is financially disciplined, and while we continue to recognize the merits of an AcelRx and Tetraphase combination, we do not believe that any further increases to our offer would be in the best interests of our stockholders. As a result, we have decided not to further increase our offer and will focus on other exciting opportunities to expand and diversify our product portfolio and create a platform for growth with other potential collaboration partners."

The co-promotion agreement between AcelRx and Tetraphase (or any successor to Tetraphase) remains in place – safeguarded by significant financial obligations. The training of both the AcelRx and Tetraphase teams is complete and co-promotion efforts for DSUVIA and XERAVA are currently underway.

Arcus Biosciences to Participate in the Goldman Sachs 41st Annual Global Healthcare Conference Webcast

On June 3, 2020 Arcus Biosciences, Inc. (NYSE:RCUS), an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, reported that management will present at the Goldman Sachs 41st Annual Global Healthcare Conference Webcast on Wednesday, June 10, 2020 at 3:50 p.m. Eastern Time (Press release, Arcus Biosciences, JUN 3, 2020, View Source [SID1234560806]).

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A live audio webcast of the presentation will be available by visiting the "Investors" section of the Arcus website at www.arcusbio.com. A replay of the webcast will be available for at least 30 days following the live event.