Invitae Announces Exercise in Full of Underwriters’ Option to Purchase Additional Shares of Common Stock and Closing of Underwritten Public Offering

On April 6, 2020 Invitae Corporation (NYSE: NVTA) reported the closing of its underwritten public offering of 20,444,444 shares of its common stock, including 2,666,666 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares, at the public offering price of $9.00 per share (Press release, Invitae, APR 6, 2020, View Source [SID1234561378]). As a result of the underwriters’ option exercise, the aggregate gross proceeds to Invitae from the offering, before deducting underwriting discounts and commissions and other offering expenses, was approximately $184.0 million.

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Invitae’s (NVTA) mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. www.invitae.com (PRNewsFoto/Invitae Corporation)

J.P. Morgan Securities LLC and Cowen and Company, LLC acted as the book-running managers for the offering.

An automatic shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and became effective on March 4, 2019. A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926.

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

MEDIGENE WAS GRANTED TWO PATENTS FOR NOVEL CROSSTAG-1 TECHNOLOGY

On April 6, 2020 Medigene AG (MDG1, Frankfurt, Prime Standard), a clinical stage immuno-oncology company focusing on the development of T cell immunotherapies for the treatment of cancer, reported that it was granted patents from the Japanese Patent Office (JP6676759) and from the New Zealand Patent Office (NZ741954) (Press release, MediGene, APR 6, 2020, View Source [SID1234556178]). The patents cover the novel CrossTAg-1 technology that allows cross-presentation of antigens on both class I and II Major Histocompatibility Complex (MHC) molecules, also called "Human Leukocyte Antigens" (HLA) in humans.

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Medigene believes that CrossTAg-1 is a powerful new technology for dendritic cell vaccine development as it directs short peptides from an antigen to be effectively processed by cellular pathways for both class I and class II HLA presentation, thereby stimulating both cytotoxic T cells and helper T cells, respectively. The activation of these major T cell subsets is a key feature of optimal immune responses, including those against cancer.

The CrossTAg-1 technology can therefore also substantially enhance Medigene’s TCR platform as it enables the identification and selection of tumor-specific T cell receptors (TCRs) expressed by both of these key T cell subsets.

Medigene Immunotherapies GmbH and Helmholtz Zentrum München (HMGU) are co-applicants and the patents falls under the main license agreement in place with HMGU.

Prof. Dolores J. Schendel, CEO/CSO of Medigene: "The granted patents are of particular relevance for the further development of our immunotherapies as the novel technology assures that we can activate both helper T cells and cytotoxic T cells specific for peptides derived from the same cancer antigen. In patients, the interaction of both types of T cells is needed for best immunity to ultimately fight and control the cancer."

RemeGen Closes $100 Million Round for China Launch of Novel Biologics

On April 6, 2020 RemeGen, a Yantai biotech, reported that it has closed a $100 million funding co-led by Lilly Asia Ventures and Lake Bleu Capital (Press release, RemeGen, APR 6, 2020, View Source [SID1234556160]). Founded in 2008, RemeGen is developing a pipeline of over ten novel biologics for autoimmune, cancer and ophthalmology diseases . The proceeds will advance commercialization of the company’s two lead molecules. RC18 (telitacicept) is a fusion protein with a China NDA filed for systemic lupus erythematosus (SLE). It is also currently in Phase II or Phase III trials for six other autoimmune diseases. RC48, a HER2 ADC, is currently in pivotal clinical trials for gastric and urothelial cancers.

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Immunomedics Announces ASCENT Study to be Stopped for Compelling Efficacy

On April 6, 2020 Immunomedics, Inc. (NASDAQ: IMMU) ("Immunomedics" or the "Company"), a leading biopharmaceutical company in the area of antibody-drug conjugates, reported that its Phase 3 confirmatory ASCENT study will be halted due to compelling evidence of efficacy (Press release, Immunomedics, APR 6, 2020, View Source [SID1234556159]). This decision was based on the unanimous recommendation by the independent Data Safety Monitoring Committee (DSMC), during its recent routine review of the ASCENT study.

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"It is my distinct honor to have served as Chairperson of the independent DSMC for this important study," remarked Julie R. Gralow, MD, Jill Bennett Endowed Professor of Breast Cancer, University of Washington School of Medicine; Member, Fred Hutchinson Cancer Research Center. "Triple-negative breast cancer (TNBC) is a disease with extremely limited treatment options beyond classic chemotherapy. The remarkable results we observed across multiple endpoints in the ASCENT study warranted early discontinuation of the trial and are indicative of a potential major advance in the treatment of this devastating disease that affects younger women and African American women at higher rates. I look forward to the release of the full and final analyses of these study data when they are available for public presentation."

ASCENT is a Phase 3 confirmatory study designed to validate the promising safety and efficacy data of sacituzumab govitecan observed in a Phase 2 study of heavily pretreated patients with metastatic TNBC (mTNBC). The primary endpoint for the study is progression-free survival, and secondary endpoints include overall survival and objective response rate, among others.

"We want to thank the members of the DSMC for their guidance," said Loretta M. Itri, MD, Chief Medical Officer of Immunomedics. "This strengthens our resolve to complete the analysis and reporting of the final study results, thereby allowing these data to become available to physicians caring for the TNBC community in a timely fashion."

Dr. Behzad Aghazadeh, Executive Chairman of Immunomedics, commented, "Today’s announcement marks a significant milestone towards fulfilling our promise to patients globally with TNBC of providing a new treatment option that can meaningfully improve their lives. We are grateful to all the patients, their families and healthcare providers who participated in the ASCENT study. On behalf of all of my colleagues at Immunomedics, we remain committed to working tirelessly to bring this potentially transformative drug to all mTNBC patients in need."

A biologics license application resubmission seeking accelerated approval of sacituzumab govitecan for the treatment of patients with mTNBC who have received at least two prior therapies for metastatic disease is currently under U.S. Food and Drug Administration (FDA) review, with a PDUFA target action date of June 2, 2020. The FDA previously granted Breakthrough Therapy Designation for sacituzumab govitecan in this disease setting.

Conference Call

The Company will host a conference call and live audio webcast today at 8:00 a.m. Eastern Time to provide a clinical development and general corporate update. To access the conference call, please dial (877) 303-2523 or (253) 237-1755 using the Conference ID 8348877. The conference call will be webcast via the Investors page on the Company’s website at View Source Approximately two hours following the live event, a webcast replay of the conference call will be available on the Company’s website for approximately 30 days.

Soligenix Receives European Patent for Therapeutic Use of Synthetic Hypericin to Treat Cutaneous T-Cell Lymphoma

On April 6, 2020 Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, reported that the European patent office has granted the divisional patent application titled "Formulations and Methods of Treatment of Skin Conditions" (No. 2932973) (Press release, Soligenix, APR 6, 2020, View Source [SID1234556158]). The granted claims are directed to the therapeutic use of synthetic hypericin in the treatment of cutaneous T-cell lymphoma (CTCL). Synthetic hypericin is the active pharmaceutical ingredient in SGX301, the Company’s photodynamic therapy, for which positive primary endpoint results in a pivotal Phase 3 study for the treatment of CTCL were recently announced (available here). This new patent expands on Soligenix’s comprehensive patent estate, which includes protection on the composition of the purified synthetic hypericin, methods of synthesis and therapeutic methods of use in both CTCL and psoriasis, and is being pursued worldwide.

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SGX301 is a novel, first-in-class, photodynamic therapy that combines synthetic hypericin, a potent photosensitizer that is applied to the cancerous CTCL skin lesions and activated using a brief, safe, fluorescent light treatment. This treatment approach is expected to minimize the risk of secondary malignancies (including melanoma) inherent with the frequently employed DNA-damaging chemotherapeutic drugs and other photodynamic therapies that are dependent on ultraviolet A and B exposure. In the double-blind, placebo-controlled Phase 3 "FLASH" (Fluorescent Light Activated Synthetic Hypericin) trial, SGX301 demonstrated a statistically significant improvement (p=0.04) in its primary endpoint after just 6 weeks of therapy (Cycle 1). The open-label extended treatment (Cycles 2 and 3) and 6–month safety follow-up remain ongoing, with data from Cycle 2 expected to be available in June 2020. Preliminary assessment of the blinded Cycle 2 results suggest a more robust response rate after 12 weeks of SGX301 treatment.

"This recently issued patent continues to expand, strengthen and protect our synthetic hypericin patent estate," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. "With the support of the National Cancer Institute (NCI), most recently providing $1.5 million of non-dilutive funding under a two year Small Business Innovative Research (SBIR) grant, as well as important contributions from key patient advocacy organizations, such as the Cutaneous Lymphoma Foundation, we look forward to completing the ongoing pivotal Phase 3 CTCL study to potentially address the unmet medical need that currently exists in this orphan disease.

About Cutaneous T-Cell Lymphoma (CTCL)

CTCL is a class of non-Hodgkin’s lymphoma (NHL), a type of cancer of the white blood cells that are an integral part of the immune system. Unlike most NHLs which generally involve B-cell lymphocytes (involved in producing antibodies), CTCL is caused by an expansion of malignant T-cell lymphocytes (involved in cell-mediated immunity) normally programmed to migrate to the skin. These malignant cells migrate to the skin where they form various lesions, typically beginning as a rash and eventually forming raised plaques and tumors as the disease progresses. Mortality is related to the stage of CTCL, with median survival generally ranging from about 12 years in the early stages to only 2.5 years when the disease has advanced. There is currently no cure for CTCL. Typically, CTCL lesions are treated and regress but usually return either in the same part of the body or in new areas.

CTCL constitutes a rare group of NHLs, occurring in about 4% of the approximate 700,000 individuals living with the disease. It is estimated, based upon review of historic published studies and reports and an interpolation of data on the incidence of CTCL that it affects over 25,000 individuals in the US, with approximately 3,000 new cases seen annually.

About Synthetic Hypericin

Synthetic hypericin, the active ingredient in SGX301, is a potent photosensitizer that is topically applied to skin lesions, is taken up by the malignant T-cells, and then activated by fluorescent light 16 to 24 hours later. This treatment approach avoids the risk of secondary malignancies (including melanoma) inherent with the frequently employed DNA-damaging chemotherapeutic drugs and other photodynamic therapies that are dependent on ultraviolet exposure. Combined with photoactivation, hypericin has demonstrated significant anti-proliferative effects on activated normal human lymphoid cells and inhibited growth of malignant T-cells isolated from CTCL patients. In a published Phase 2 clinical study in CTCL, patients experienced a statistically significant (p=0.04) improvement with topical hypericin treatment whereas the placebo was ineffective. SGX301 has received orphan drug and fast track designations from the US Food and Drug Administration (FDA), as well as orphan designation from the European Medicines Agency (EMA).

Based on the positive results demonstrated in the Phase 2 study of SGX301, the Phase 3 protocol is a highly powered, double-blind, randomized, placebo-controlled, multicenter trial targeted to enroll 160 evaluable subjects. The trial consists of three treatment cycles, each of 8 weeks duration. Treatments are administered twice weekly for the first 6 weeks and treatment response will be determined at the end of Week 8. In the first treatment cycle, 116 subjects received SGX301 and 50 subjects received placebo treatment of their index lesions. In the second cycle, all subjects received SGX301 treatment of their index lesions and in the third cycle all subjects could receive SGX301 treatment of all their lesions. Subjects are followed for an additional 6 months after the completion of treatment. The primary efficacy endpoint was assessed on the percent of patients in each of the two treatment groups (i.e., SGX301 and placebo) achieving a Partial or Complete Response (yes/no) of the treated lesions defined as a ≥ 50% reduction in the total Composite Assessment of Index Lesion Disease Severity (CAILS) score for three index lesions at the Cycle 1 evaluation visit (Week 8) compared to the total CAILS score at baseline. Assessment of the primary endpoint revealed that 16% patients receiving SGX301 responded (i.e., had ≥ 50% reduction in index lesion size) while only 4% receiving placebo responded (p=0.04). Preliminary results from blinded data to date suggest more than a 35% response rate (inclusive of patients receiving both 12 weeks and 6 weeks of therapy), indicating the response increases with continued treatment.

Other secondary measures assessed are treatment response (including duration), degree of improvement, time to relapse and safety, and will be available as the subsequent cycles and follow-up visits are completed for all subjects.

Overall safety of SGX301 is a critical attribute of this treatment and will continue to be monitored throughout the additional treatment cycles and the 6-month follow-up period. SGX301’s mechanism of action is not associated with DNA damage, making it a safer alternative than currently available therapies, all of which are associated with significant and sometimes fatal, side effects. Predominantly these include the risk of melanoma and other malignancies, as well as the risk of significant skin damage and premature skin aging. Currently available treatments are only approved in the context of previous treatment failure with other modalities and there is no approved front-line therapy available. Within this landscape, treatment of CTCL is strongly motivated by the safety risk of each product. SGX301 potentially represents the safest available efficacious treatment for CTCL. With no systemic absorption, a compound that is not mutagenic and a light source that is not carcinogenic, there is no evidence to date of any potential safety issues.

The Phase 3 CTCL clinical study was partially funded by the National Cancer Institute via a Phase II SBIR grant (#1R44CA210848-01A1) awarded to Soligenix, Inc.