Legend Biotech to Participate in the 39th Annual J.P. Morgan Healthcare Conference

On December 15, 2020 Legend Biotech Corporation (NASDAQ: LEGN) ("Legend Biotech"), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, reported that it will participate virtually in the 39th Annual J.P. Morgan Healthcare Conference on Monday, January 11, 2021 (Press release, Legend Biotech, DEC 15, 2020, View Source [SID1234572881]). Ying Huang, PhD, Chief Executive Officer and Chief Financial Officer of Legend Biotech, will present company updates on Wednesday, January 13, 2021 at 4:30 pm ET.

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The webcast will be available to investors and other interested parties in the Events & Presentation section under Investors on Legend Biotech’s website at View Source A webcast replay will be available approximately 24-hrs after the live webcast.

Telix Pharmaceuticals Limited and Mauna Kea Technologies Announce the “Imaging and Robotics in Surgery (IRiS) Alliance”

On December 15, 2020 Telix Pharmaceuticals Limited (ASX: TLX, ‘Telix’) a biopharmaceutical company developing diagnostic and therapeutic products using Molecularly Targeted Radiation (MTR) and Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) (Euronext: MKEA, ‘Mauna Kea’) inventor of Cellvizio, the multidisciplinary probe- and needle-based confocal laser endomicroscopy (pCLE/nCLE) platform, reported an exclusive scientific and clinical research collaboration in the field of molecular imaging guided urologic oncology (Press release, Telix Pharmaceuticals, DEC 15, 2020, View Source [SID1234572880]).

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The Telix and Mauna Kea scientific and clinical research collaboration is called the "Imaging and Robotics in Surgery (IRiS) Alliance," or "IRiS Alliance," and was created to further develop the combined technological capabilities of both companies. The IRiS Alliance was formed based on the belief that the use of cancer-specific Positron Emission Tomography (PET) imaging agents, including dual-modality tracers that combine PET and fluorescent (optical) techniques, in conjunction with confocal laser endomicroscopy, may significantly improve surgical techniques and clinical outcomes in patients with urologic cancers.

The IRiS Alliance aims to demonstrate that pre-operative planning, intra-operative guidance, surgical margin assessment and other surgical parameters may be improved by combining these modalities. The initial focus of the IRiS Alliance is to develop and evaluate the use of Telix’s dual-modality PET and optical imaging tracers, together with Mauna Kea’s unique near-infrared version of the Cellvizio endomicroscopy platform to facilitate fluorescence-guided surgical interventions for prostate and kidney cancers.

"We are excited to announce this exclusive scientific and clinical research collaboration with Telix in the field of urologic oncology," said Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. "The IRiS Alliance endeavors to combine the strengths of Telix’s molecular targeting, together with Cellvizio’s real-time in vivo cellular imaging, to bring dual modality molecular imaging to the operating theatre for the first time. The IRiS Alliance aims to significantly transform how the urologic surgeon will evaluate, target, excise, and confirm surgical margins at the cellular level. Our collaboration will further empower surgeons to fight cancers and save lives. We expect to begin pre-clinical and clinical feasibility studies in 2021."

"The cutting-edge techniques our respective companies have developed in molecular targeting and real-time in vivo cellular imaging have a natural synergy and we are extremely pleased to have formalized this ground-breaking partnership," said Christian Behrenbruch, Chief Executive Officer and Managing Director of Telix Pharmaceuticals Limited. "Through the IRiS Alliance, Telix and Mauna Kea together aim to deliver quantum improvements in surgical techniques and clinical outcomes in patients with urologic cancers, starting with prostate and kidney cancers, with the ultimate objective of improving the lives of the patients we serve."

Verastem Oncology Initiates Phase 2 Registration-Directed Trial of VS-6766 and Defactinib in Previously Treated KRAS Mutant Non-Small Cell Lung Cancer

On December 15, 2020 Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology), a biopharmaceutical company committed to advancing new medicines for patients battling cancer, reported the initiation of a Phase 2 registration-directed clinical trial of VS-6766, its RAF/MEK inhibitor, alone and in combination with defactinib, its FAK inhibitor, in patients with KRAS mutant non-small cell lung cancer (NSCLC) (Press release, Verastem, DEC 15, 2020, View Source [SID1234572878]).

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"Currently available options for patients with KRAS mutant NSCLC are associated with minimal efficacy, as well as resistance and toxicity issues. Our study will further elucidate the impact of VS-6766, alone or in combination with defactinib, in overcoming these challenges to improve outcomes," said Brian Stuglik, Chief Executive Officer of Verastem Oncology. "Our VS-6766 and defactinib NSCLC development program’s specific focus on G12V mutations is unique and represents a potentially significant step forward in understanding how we can deliver a better treatment option for these patients."

The RAMP 202 (Raf And Mek Program) study is a Phase 2, adaptive two-part multicenter, parallel cohort, randomized, open-label trial to evaluate the efficacy and safety of VS-6766 alone and in combination with defactinib in patients with KRAS mutant NSCLC, following treatment with a platinum-based regimen and immune checkpoint inhibitor.1 The first part of the study will determine the optimal regimen of either VS-6766 monotherapy or in combination with defactinib in patients with KRAS-G12V mutant NSCLC randomized 1:1 in each treatment arm. An exploratory arm of the initial phase of the study will evaluate other KRAS mutations. The determination of which regimen to take forward into the expansion phase of the trial will be made based on data from KRAS-G12V mutant patients. The second phase of the study will examine efficacy and safety parameters of the most effective regimen. Additional information about this study can be found here on ClinicalTrials.gov (NCT04620330).

"In this study, we hope to advance our understanding of a potential new option for patients with KRAS mutant NSCLC by targeting the RAF/MEK and FAK pathways," said D. Ross Camidge, M.D., Ph.D., Director of Thoracic Oncology at the University of Colorado School of Medicine and University of Colorado Cancer Center member and the study’s U.S. principal investigator. "Some key advances have come from looking at specific KRAS mutations and by also focusing on G12V mutations, allowing us to build upon the areas that have shown particular promise and determine an optimal path forward."

"NSCLC, which constitutes over 80% of lung cancers,2 is the single leading cause of cancer deaths worldwide2 and approximately 25% of NSCLCs contain activating mutations in the RAS signaling pathway,"3 said Silvia Novello, M.D., Ph.D., Professor of Respiratory Medicine at the Department of Clinical and Biological Sciences of the University of Turin, Italy and EU principal investigator of the study. "Making progress with these mutated tumors is critical as they have proven extremely difficult to target with an effective and well-tolerated option and have, therefore, left patients with limited options and minimal results."

Verastem Oncology recently announced the initiation of its RAMP 201 Phase 2 registration-directed clinical trial of VS-6766 and defactinib, in patients with recurrent low-grade serous ovarian cancer.

About KRAS Mutant Non-Small Cell Lung Cancer (NSCLC)

Approximately 85% of lung cancers are non-small cell lung cancer (NSCLC),2 which are the single leading cause of cancer deaths worldwide.2 KRAS mutation occurs in approximately 25% of NSCLC adenocarcinoma patients.3 Two of the most common types of KRAS mutations are G12V, which are present in approximately 7% of NSCLC and G12C,4 which occur in approximately 13% of NSCLCs.5 There are several agents in development for KRAS-G12C mutations, but this study represents the first time that an agent will be studied specifically for KRAS-G12V. Studies suggest that these types of KRAS mutations differ in clinical characteristics and response to traditional treatments such as chemotherapy.6

About VS-6766

VS-6766 is an oral small molecule inhibitor of the RAF/MEK signaling pathway. In contrast to other MEK inhibitors in development, VS-6766 blocks both MEK kinase activity and the ability of RAF to phosphorylate MEK. This unique mechanism allows VS-6766 to block MEK signaling without the compensatory activation of MEK that appears to limit the efficacy of other inhibitors.

About Defactinib

Defactinib (VS-6063) is an oral small molecule inhibitor of the FAK and PYK2 signaling pathways that is currently being evaluated as a potential combination therapy for various solid tumors. Verastem Oncology has received Orphan Drug Designation for defactinib in ovarian cancer in the U.S., EU and Australia. Preclinical research by Verastem Oncology scientists and collaborators at world-renowned research institutions have described the effect of FAK inhibition to enhance immune response by decreasing immuno-suppressive cells, increasing cytotoxic T cells, and reducing stromal density, which allows tumor-killing immune cells to enter the tumor.7,8

About the VS-6766/Defactinib Combination

RAS mutant tumors are present in about 30% of all human cancers, have historically presented a difficult treatment challenge and are often associated with significantly worse prognosis.9 Challenges associated with identifying new treatment options for these types of cancers include resistance to single agents,9 identifying tolerable combination regimens with MEK inhibitors and new RAS inhibitors in development addressing only a minority of all RAS mutated cancers.

The combination of VS-6766 and defactinib has been found to be clinically active in patients with KRAS mutant tumors. In an ongoing investigator-initiated Phase 1/2 FRAME study, the combination of VS-6766 and defactinib is being evaluated in patients with recurrent low-grade serous ovarian cancer (LGSOC), KRAS mutant NSCLC and colorectal cancer. Updated data from this study presented at the 2nd Annual RAS-Targeted Drug Development Summit in September 2020 demonstrated a 56% overall response rate and long duration of therapy among patients with KRAS-G12 mutant LGSOC.10 Based on an observation of higher response rates seen in NSCLC patients with KRAS-G12V mutations in the study, Verastem Oncology is also exploring the role of VS-6766 and defactinib in KRAS-G12V mutant NSCLC in its Phase 2 RAMP 202 (Raf And Mek Program) study. The FRAME study was expanded in August 2020 to include new cohorts in pancreatic cancer, KRAS mutant endometrial cancer and KRAS-G12V mutant NSCLC.

MediciNova Added to the NASDAQ Biotechnology Index

On December 15, 2020 MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number: 4875), reported that MediciNova will be added to the NASDAQ Biotechnology Index (NASDAQ: NBI) effective prior to the market open on Monday, December 21, 2020 (Press release, MediciNova, DEC 15, 2020, View Source [SID1234572876]).

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The NASDAQ Biotechnology Index (NBI) is designed to track the performance of a set of securities listed on the NASDAQ Stock Market (NASDAQ) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark. The addition of MediciNova to the NBI is a result of the annual reconstitution of the index.

The NASDAQ Biotechnology Index is the benchmark index for the iShares Nasdaq Biotechnology ETF (exchange-traded fund) (NASDAQ: IBB), which has net assets of $10.2 billion, as well as for other biotechnology-focused ETFs and mutual funds.

Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, Inc., commented, "We are excited that MediciNova has been added to the NASDAQ Biotechnology Index and we believe that our inclusion in this index will raise our profile in the investment community. We consider this milestone to be a substantial accomplishment as it validates our tireless work to create value for the company. We remain focused on our mission to develop promising new therapies for diseases with high unmet medical needs and we continue to manage our expenses efficiently."

Cellectis Announces Withdrawal of Follow-On Offering

On December 15, 2020 Cellectis (Euronext Growth: ALCLS – Nasdaq: CLLS), a clinical-stage biopharmaceutical company focused on developing immunotherapies based on gene-edited allogeneic CAR T-cells (UCART), reported that it has withdrawn the proposed underwritten offering of American Depositary Shares ("ADS") due to market conditions (Press release, Cellectis, DEC 15, 2020, View Source [SID1234572875]).

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The Company believes that it is not in the best interest of its stockholders to raise the equity capital in the current market environment. Cellectis remains well capitalized with a cash position at the end of the third quarter of 2020 of $308 [1] million to fund its key programs into 2022.

Cellectis is well positioned on all fronts, and the entire team remains steadfast in its mission to develop innovative product candidates to benefit cancer patients.

[1] Cash position includes cash, cash equivalents and current financial assets and restricted cash. Restricted cash was $26 million as of September 30, 2020.