Sermonix Doses First Patient in Phase 2 Clinical Trial Collaboration Studying Lasofoxifene in Combination With Eli Lilly and Company’s Abemaciclib

On October 13, 2020 Sermonix Pharmaceuticals Inc., a privately held biopharmaceutical company focused on the development of female oncology products in the precision medicine metastatic breast cancer arena, reported the enrollment and dosing of the first patient into the Phase 2 clinical trial collaboration of its lead investigational drug, lasofoxifene, in combination with Eli Lilly and Company’s FDA-approved CDK 4 and 6 inhibitor, abemaciclib (Press release, Sermonix Pharmaceuticals, OCT 13, 2020, View Source [SID1234568478]).

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The open-label, multi-center study will evaluate the safety of lasofoxifene in combination with abemaciclib for the treatment of pre- and postmenopausal women with locally advanced metastatic estrogen receptor-positive (ER+)/HER2- breast cancer and an ESR1 mutation. It is Sermonix’s second Evaluation of Lasofoxifene in ESR1 Mutations (ELAINE) study and is known as ELAINE 2.

Preclinical models of invasive breast cancer at the University of Chicago identified synergy between lasofoxifene, a selective estrogen receptor modulator (SERM), and palbociclib, a CDK 4 and 6 inhibitor, in the presence of ESR1 mutations.

"Combination therapy with a CDK 4/6 inhibitor and an endocrine backbone will likely continue to be widely utilized for women with metastatic breast cancer, and our positive preclinical data encouraged us to pursue further safety data with a lasofoxifene and abemaciclib combination in collaboration with Eli Lilly," said Dr. Paul Plourde, Sermonix vice president of clinical development. "It’s an important step toward conducting a larger study, so we are pleased to be in the clinic, continuing our research and our momentum."

Recruitment Through Tempus

Sermonix is partnering with Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare, for ELAINE study recruitment. The first ELAINE 2 patient was enrolled at one of Tempus’s TIME Trial Network sites. Tempus, with the world’s largest library of clinical and molecular data, uses innovative, proprietary software to match patients to clinical trials in real-time. For Sermonix, it is helping to identify and enroll eligible patients who have an ESR1 mutation.

"We’re thrilled to have Sermonix leveraging our real-time clinical trial network, which is focused on harnessing genomic and clinical data to rapidly match patients to these kinds of biomarker-driven trials," said Dr. Kim Blackwell, MD, Tempus chief medical officer. "Both companies share a mutual vision of advancing precision medicine through targeted therapeutics."

ELAINE 1, which began enrollment in September 2019, will continue to assess the efficacy of oral lasofoxifene versus intramuscular fulvestrant for the treatment of postmenopausal women with locally advanced or metastatic estrogen receptor-positive (ER+)/HER2- breast cancer with an ESR1 mutation and progression-free survival as the primary endpoint.

"Sermonix is delighted to begin ELAINE 2 enrollment, in line with our initially anticipated timeline," said Dr. David Portman, Sermonix founder and chief executive officer. "Tempus has a state-of-the-art approach in identifying eligible patients at the point of care, providing both agility and speed, and we are certain this innovative collaboration in the precision medicine arena will prove fruitful in expediting our clinical trial enrollment efforts in both of our clinical programs."

Both ELAINE 1 and ELAINE 2 are actively enrolling patients. To learn more about the trials, visit www.sermonixpharma.com.

About Lasofoxifene
Lasofoxifene is an investigational, nonsteroidal selective estrogen receptor modulator (SERM), which Sermonix licensed globally from Ligand Pharmaceuticals Inc. (NASDAQ: LGND) and has been studied in previous comprehensive Phase 1-3 non-oncology clinical trials in more than 15,000 postmenopausal women worldwide. Lasofoxifene’s bioavailability and activity in mutations of the estrogen receptor could potentially hold promise for patients who have acquired endocrine resistance due to ESR1 mutations, a common finding in the metastatic setting and an area of high unmet medical need. Lasofoxifene’s novel activity in ESR1 mutations was discovered at Duke University and Sermonix has exclusive rights to develop and commercialize the product in this area. Lasofoxifene, a potent, oral SERM could, if approved, play a critical role in the targeted precision medicine treatment of advanced ER+ breast cancer.

About Abemaciclib
Abemaciclib (trade name Verzenio) is a CDK4 and 6 inhibitor and the first and only oral tablet of its kind that can be taken every day for the treatment of HR+, HER2– metastatic breast cancer. It is indicated for the treatment of HR+, HER2- advanced or metastatic breast cancer, in combination with an aromatase inhibitor for postmenopausal women as initial endocrine-based therapy; in combination with fulvestrant for women with disease progression following endocrine therapy; or as a single agent for adult patients with disease progression following endocrine therapy and prior chemotherapy in the metastatic setting.

Entry into a Material Definitive Agreement

On October 13, 2020, Vaxart, Inc. ("Vaxart" or the "Company") reported that it entered into an Open Market Sale AgreementSM (the "Sales Agreement") with Jefferies LLC, as agent ("Jefferies") and Piper Sandler & Co. ("Piper Sandler") and, together with Jefferies, the "Sales Agents"), pursuant to which Vaxart may offer and sell, from time to time through the Sales Agents, shares of the Company’s common stock, par value $0.0001 per share (the "Common Stock"), having an aggregate offering price of up to $250 million (the "Shares") (Filing, 8-K, Aviragen Therapeutics, OCT 13, 2020, View Source [SID1234568466]). The Shares will be sold pursuant to an effective registration statement on Form S-3 (Registration Statement No. 333-239751), as previously filed with the U.S. Securities and Exchange Commission (the "Commission"). The Company filed a prospectus supplement, dated October 13, 2020, with the Commission in connection with the offer and sale of the Shares.

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Under the Sales Agreement, the Sales Agents may sell the Shares by any method permitted by law and deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the "Securities Act"), including sales made directly on the Nasdaq Capital Market, on any other existing trading market for the Common Stock. In addition, under the Sales Agreement, the Sales Agents may sell the Shares in privately negotiated transactions with the Company’s consent and in block transactions. Under certain circumstances, Vaxart may instruct the Sales Agents not to sell the Shares if the sales cannot be effected at or above the price designated by the Company from time to time

Vaxart is not obligated to make any sales of the Shares under the Sales Agreement. The offering of the Shares pursuant to the Sales Agreement will terminate upon the earlier of (a) the sale of all of the Shares subject to the Sales Agreement or (b) the termination of the Sales Agreement by the Sales Agents or the Company, as permitted therein.

The Sales Agreement contains customary representations, warranties and agreements by Vaxart, and customary indemnification and contribution rights and obligations of the parties. Vaxart will pay the Sales Agents a commission rate equal to 4.5% of the aggregate gross proceeds from each sale of the Shares. Vaxart will also reimburse the Sales Agents for certain specified expenses in connection with entering into the Sales Agreement.

The Sales Agreement is filed as Exhibit 1.1 to this Current Report on Form 8-K, and the description of the terms of the Sales Agreement is qualified in its entirety by reference to such exhibit. A copy of the opinion of Thompson Hine LLP relating to the legality of the issuance and sale of the Shares is attached as Exhibit 5.1 hereto.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

ImmuneOnco Completes $25 Million Funding for Immunotherapies

On October 13, 2020 ImmuneOnco, a Shanghai oncology immunotherapy company, reported that it completed a $25 million Series B financing, led by Lilly Asia Fund (Press release, ImmuneOnco Biopharma, OCT 13, 2020, View Source [SID1234568462]). Founded in 2015, the company is developing bi-specific antibodies, novel recombinant proteins, target-specific natural killer (NK) cells, a target-activated NK (TANK) cell therapy, a CAR-T cell therapy and monoclonal antibody drugs that target immune regulation pathways. ImmuneOnco said the capital would support clinical studies of two ImmuneOnco candidates, IMM01, an anti-CD47 fusion protein, and IMM0306, a bispecific antibody targeting CD47-CD20.

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WindMIL Therapeutics and Stephenson Cancer Center Announce Collaboration to Collect Bone Marrow from Patients with Renal and Urothelial Carcinomas to Develop Marrow Infiltrating Lymphocytes (MILs®)

On October 13, 2020 WindMIL Therapeutics and Stephenson Cancer Center reported that the first patients have been identified in an investigator-sponsored study for the collection of bone marrow from patients with renal (RCC) and urothelial carcinomas (UC) (Press release, WindMIL Therapeutics, OCT 13, 2020, View Source [SID1234568460]). The study will evaluate generating marrow infiltrating lymphocytes (MILs) for these patients through WindMIL’s proprietary cellular activation and expansion process. The study is being conducted at Stephenson Cancer Center at OU Medicine in Oklahoma City, OK.

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Rappta Therapeutics Raises Series A Financing for the Development of Phosphatase 2A drugs

On October 13, 2020 Rappta Therapeutics ("Rappta"), focused on developing first-in-class anti-cancer drugs activating protein phosphatase 2A (PP2A), reported the closing of a EUR 9 million Series A financing co-led by Novartis Venture Fund ("NVF") and Novo Holdings with participation from Advent Life Sciences and a family office (Press release, Rappta Therapeutics, OCT 13, 2020, View Source [SID1234568443]). The company also announces it has successfully received funding from Business Finland, the Finnish innovation funding organization.

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PP2A is a critical enzyme regulating protein de-phosphorylation and a key tumor suppressor which to date has been very difficult to target pharmaceutically. Rappta has developed proprietary tools and a unique understanding of PP2A which allows it to therapeutically reactivate PP2A. As a result of PP2A’s central role in the regulation of protein de-phosphorylation, Rappta’s PP2A-reactivating technologies offer the potential to develop multiple lead compounds and build a platform for a new class of anti-cancer drugs.

Rappta has assembled a strong scientific, management, and commercial team based in Finland and the US. Rappta’s scientific team, led by CSO and co-founder, Professor Goutham Narla, Division Chief of Genetic Medicine at the University of Michigan, represents world-leading expertise in PP2A. The scientific team has published seminal papers on the structural, functional, and biological mechanisms of PP2A inactivation in human cancer. The team will be supported by the Scientific Advisory Board led by Dr. William Hahn, a Professor of Medicine at the Harvard Medical School and the Chief Scientific Officer at the Dana-Farber Cancer Institute.

Goutham Narla, Rappta’s CSO, board member and co-founder, commented: "I am thrilled to be working on this opportunity to build a new platform and a novel class of pharmaceuticals to treat cancer. We have a unique team whose deep understanding of the PP2A biochemistry, structural biology, biogenesis, medicinal chemistry and drug development represent the perfect combination of expertise to translate these discoveries to the clinic."

Mikko Mannerkoski, Rappta’s CEO, board member and co-founder, commented: "We are very pleased to attract such a strong syndicate of international investors which validates our approach to developing novel therapies to target the previously undruggable target protein PP2A. This funding will enable us to accelerate the development of our platform and advance the lead compounds towards clinical development."

Beat Steffen from NVF, Jeroen Bakker from Novo Seeds, and Raj Parekh from Advent Life Sciences, will join Mikko Mannerkoski and Goutham Narla on the Board of Directors with Beat Steffen serving as the chairperson.