On June 16, 2020 NOXXON Pharma N.V. (Paris:ALNOX) (Euronext Growth Paris: ALNOX) a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), reported the successful completion of its capital increase by issuing new ordinary shares with exclusion of pre-emptive subscription rights via a private placement to European investors for approximately €1.3 million (Press release, NOXXON, JUN 16, 2020, View Source [SID1234561149]).

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"Having completed this capital increase, our cash balance is now over €10 million. To put this into context, cash consumption in the first five months of the year has been approximately €400k per month including the ongoing brain cancer trial. This strengthened financial foundation will enable us to consider and pursue additional opportunities for building value with NOXXON compounds, and ultimately facilitate the continued development of the company," said Aram Mangasarian, CEO of NOXXON.

On June 15, 2020 the Supervisory Board agreed to proceed with a capital increase excluding shareholders’ pre-emptive rights, in accordance with the delegation granted to it by the sixth resolution of the extraordinary general meeting of shareholders from January 02, 2019. All the subscriptions were received and the final completion of the capital increase was acknowledged by the Board of Directors at its meeting held on June 16, 2020.

The capital increase amounts to €1,302,000 and corresponds to the issue of 2,245,000 new shares at a subscription price of €0.58 per new share, i.e. a dilution rate of 5.7% of the capital after operation on a non-diluted basis. The subscription price of €0.58 per new share represents a discount of 10.4% on the average closing price of the shares over the seven trading days from June 4, 2020 to June 12, 2020.

Settlement of the transaction is planned to take place on June 17, 2020. The new shares will carry current dividend rights and will be admitted to trading on the Euronext Growth Paris market, on the same trading line as the existing shares, under ISIN code NL0012044762, as of June 18, 2020.

The company’s issued share capital, which is currently composed of 36,845,249 shares, will therefore be composed of 39,090,249 shares after the transaction. As an indication, the participation of a shareholder holding 1% of the company’s issued share capital prior to the capital increase (calculated on the basis of the number of shares of the company’s issued share capital as of June 12, 2020), would be, after the issuance of the 2,245,000 new shares, 0.94% of the capital. The issued share capital prior to this financing was €368,452.49 and will therefore become €390,902.49.

Detailed information about NOXXON, including information about its business, results and corresponding risk factors, was presented in the Annual Report 2019 and in the related press release dated April 22, 2020. The company’s press releases as well as other regulated information can be found on the company’s website (www.noxxon.com).

On June 16, 2020 Boundless Bio, a company developing innovative new therapies directed to extrachromosomal DNA (ecDNA) in aggressive cancers, reported that scientific co-founder, Paul Mischel, M.D., will be lecturing on the foundational role that ecDNA plays in driving resistance to standard of care therapies at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Virtual Annual Meeting II, held June 22-24, 2020 (Press release, Boundless Bio, JUN 16, 2020, View Source [SID1234561148]).

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Track: Educational Session
Session: Overcoming Therapeutic Resistance: Challenges and Opportunities
Presentation Title: Tumor heterogeneity and the evolution of drug resistance
Date: Tuesday, June 23, 2020
Time: 3:30 p.m. – 4:00 p.m. EDT

About ecDNA

Extrachromosomal DNA, or ecDNA, are distinct circular units of DNA containing functional genes that are located outside cells’ chromosomes and can make many copies of themselves. ecDNA rapidly replicate within cancer cells, causing high numbers of oncogene copies, a trait that can be passed to daughter cells in asymmetric ways during cell division. Cancer cells have the ability to upregulate or downregulate oncogenes located on ecDNA to ensure survival under selective pressures, including chemotherapy, targeted therapy, immunotherapy, or radiation, making ecDNA one of cancer cells’ primary mechanisms of recurrence and treatment resistance. ecDNA are rarely seen in healthy cells but are found in many solid tumor cancers. They are a key driver of the most aggressive and difficult-to-treat cancers, specifically those characterized by high copy number amplification of oncogenes.

On June 16, 2020 C4 Therapeutics, Inc. (C4T), a biotechnology company pioneering a new class of small-molecule drugs that selectively destroy disease-causing proteins via degradation, reported the closing of a $170 million financing, including $150 million in Series B equity co-led by existing investor Cobro Ventures and new investor Perceptive Advisors and $20 million in venture debt by Perceptive Advisors (Press release, C4 Therapeutics, JUN 16, 2020, View Source [SID1234561147]). Additional new equity investors in the round included Adage Capital Management, Axil Capital, Bain Capital Life Sciences, Commodore Capital, 3E Bioventures Capital, HBM Healthcare Investments, Lightchain Capital, Logos Capital, Mizuho Securities Principal Investment, Nextech, RA Capital Management, RTW Investments, Sphera Funds Management, Taiwania Capital Management, Yonjin Venture, and funds and accounts managed by T. Rowe Price Associates, Inc and Janus Henderson Investors. Existing investors also participated.

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C4T will use the proceeds to advance multiple degrader drug candidates to human proof-of-concept and to expand the Company’s capabilities. C4T has invested significantly in its TORPEDO platform, which combines a robust chemistry engine, proprietary assays, and high throughput screening with predictive modeling for accelerated, informed, and efficient discovery and design of high-quality drug candidates.

"This funding comes at a significant juncture, as our company is moving to a clinical stage. We plan on filing our first IND by the end of this year and expect to have four drug candidates in the clinic by the end of 2022. We have a deep pipeline addressing a diverse set of oncology indications that provides us with significant optionality. Protein degraders allow for more potent and durable pharmacologic responses than traditional inhibitors, and we bring a differentiated approach to this transformative modality through our proprietary TORPEDO platform," said Marc Cohen, Co-Founder, Chairman and CEO of C4 Therapeutics. "We look forward to advancing our programs with the goal of bringing new therapeutics to patients suffering from life-threatening diseases and are thrilled to have attracted top-tier life science investors to our company in this very oversubscribed round."

"C4 Therapeutics is a pioneer in this exciting and promising new protein degradation space," said Adam Stone, Chief Investment Officer of Perceptive Advisors and co-lead of this financing. "With their strong science and world class team we have no doubt that they will be able to bring powerful new therapeutics to patients and we are excited to collaborate with C4T on this important mission."

"C4T remains at the forefront of this novel modality with its proprietary platform validated by high-value strategic partnerships," added Todd Kaloudis, Managing Director at Cobro Ventures, co-lead of this round. "We are proud to support C4T in its mission to destroy disease-causing proteins and deliver breakthrough treatments for significant unmet medical needs."

Jefferies and Locust Walk served as transaction advisors to the Company in the Series B financing.

On June 16, 2020 TILT Biotherapeutics, a clinical-stage biotechnology company developing cancer immunotherapies, reported it has secured an additional EUR 6.2m, including EUR 4.5m equity, to advance its proprietary, best-in-class cytokine armed oncolytic adenovirus, TILT-123, into Phase 1 clinical trials in Europe and the United States, and to prepare for Phase 2 trials (Press release, TILT Biotherapeutics, JUN 16, 2020, View Source [SID1234561146]). TILT-123 has completed GLP preclinical studies and CMC for Phase 1 studies. These studies are planned in solid tumors as TILT-123 monotherapy or in combination with tumor infiltrating lymphocytes (TILs) or checkpoint inhibitors. TILT will also use the funding to develop an innovative production process to scale up GMP manufacturing.

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TILT also announces two new appointments to its board of directors, Kenneth Forssell, an entrepreneurial leader with over 25 years’ experience in global pharmaceutical and medical device companies, including GSK, and Pekka Mattila, co-founder and CEO of Desentum Oy. Prior to founding Desentum, Pekka was the co-founder and CEO of Finnish biotech company, Finnzymes, until it was acquired by Thermo Fisher Scientific. In addition, Jyrki Liljeroos has been appointed to an advisory role for the board of directors. Jyrki has over 30 years expertise in pharmaceuticals and life sciences in Europe, USA and Japan, notably as the CEO and President of Santen Oy.

TILT Biotherapeutics’ CEO, Akseli Hemminki, a biotech entrepreneur and cancer clinician who has personally treated almost 300 patients with ten different oncolytic viruses, said, "This additional financing provides TILT with a solid foundation to progress our cancer immunotherapies into the clinic. The heart of our approach revolves around the use of oncolytic adenoviruses armed with cytokines to boost the patient’s immune response towards the tumor, enabling it to find and destroy cancer cells. Our vision is to become the leading company globally in oncolytic immunotherapy for enabling therapies based on T-cells, such as checkpoint inhibitors and adoptive cell therapies."

Minna Hendolin, Senior Director for Health and Wellbeing, Business Finland said: "TILT is a great example of Finnish world-class expertise in the area of cancer therapies. The need for personalized and efficient new treatments is evident around the world and the company’s new solution for immunotherapy will change the way the cancer is treated. The recent successful funding round also shows TILT’s good progress in its business development."

The latest fund raising of EUR 4.5m equity includes a EUR 0.5m convertible loan and a long-term Government loan from Business Finland of up to EUR 1.7m. Since its formation in 2013, the company has secured EUR 17.5m of funding with investors including Lifeline Ventures and Finnish private investors as well as the European Innovation Council, and Business Finland. In addition, TILT has also secured additional payments through a collaboration with Biotheus for licensing rights to TILT-123 in Greater China.

On June 16, 2020 Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage oncology therapeutics company developing drugs to treat cancers with the greatest medical need for new treatment options, including KRAS-mutated colorectal cancer, castration-resistant prostate cancer and leukemia, reported it has entered into a securities purchase agreement, jointly led by biotech-focused fundamental institutional investors, Acorn Bioventures and CAM Capital, at the closing price as of June 15, 2020 (Press release, Cardiff Oncology, JUN 16, 2020, View Source [SID1234561145]). The financing includes common stock, non-voting Series E preferred stock and warrants for aggregate gross proceeds of $13.5 million. The proceeds will be used to accelerate the development of onvansertib and associated capital expenditures.

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"We are thrilled to have the long-term investment and support of Acorn Bioventures and CAM Capital to help continue advancing our prioritized clinical programs towards value inflection milestones," said Dr. Mark Erlander, Chief Executive Officer of Cardiff Oncology. "Broadening our institutional investor base will also provide the opportunity for us to gain valuable insight and input from our new investors as part of their role as non-voting observers to our Board of Directors. We believe this financing will allow us to build on the momentum from the recent positive clinical data presented at ASCO (Free ASCO Whitepaper) in KRAS-mutated metastatic colorectal cancer. Ultimately, our goal is to provide cancer patients with more effective therapeutic options through development of combination regimens across a number of difficult-to-treat cancers."

The common stock is being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-232321), previously filed with the Securities and Exchange Commission ("SEC") on June 25, 2019 and declared effective on July 1, 2019. Such shares of common stock are being offered only by means of a prospectus supplement. A prospectus supplement and the accompanying prospectus relating to the registered direct offerings may be obtained, when available, on the SEC’s website at View Source or by contacting Cardiff Oncology, Inc.

The Series E preferred stock and warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Rule 506(b) of Regulation D promulgated thereunder and, along with the common stock underlying the Series E preferred and the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the Series E preferred stock, warrants and underlying common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from registration requirements of the Act and such applicable state securities laws.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.