Yingli Pharma announce promising topline results of a Phase II registration study for treatment of relapsed/refractory follicular lymphoma with the once daily oral PI3Kδ inhibitor, linperlisib

On March 31, 2021 Shanghai Yingli Pharmaceutical Co., Ltd. (Yingli Pharma) reported that topline results of a Phase II registration study of linperlisib, a PI3Kδ inhibitor, for the treatment of relapsed/refractory follicular lymphoma (FL) (Press release, Yingli Pharmaceutical, MAR 31, 2021, View Source [SID1234577528]). Linperlisib is a potent and highly selective oral PI3Kδ inhibitor that was developed for potentially more efficacious with a potentially more manageable and differentiated safety profile from other PI3Kδ class agents. The topline results of this single-arm Phase II study (NCT04370405) showed that linperlisib treatment led to significant clinical improvement for the patients with relapsed/refractory FL.

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The results of the study indicated an 80.9% overall response rate (95% confidence interval, 71.2-88.5%) for 89 evaluable relapsed/refractory FL patients, as a primary outcome measure assessed by an Independent Review Committee (IRC). In addition, a disease control rate (DCR) of 96.6% was observed. Safety data demonstrated that linperlisib 80mg QD dosing regimen was well tolerable and manageable with a differentiated and favorable safety profile.

Responding to the topline data of this Phase II registration study, Dr. Qiu Lugui of Institute of Hematology & Blood Diseases Hospital, Tianjin, China, and the leading Investigator on the clinical study, stated: "The Phase II clinical trial of linperlisib for the treatment of relapsed/refractory follicular lymphoma has demonstrated striking clinically meaningful results, suggesting that this new PI3Kδ selective inhibitor may be very well differentiated from marketed PI3Kδ inhibitors available outside of China. It is encouraging that infrequent and manageable adverse events were observed for linperlisib, indicative of the agent being safe and well-tolerated for relapsed/refractory FL patients. We are hopeful that linperlisib may soon be made available as a valuable treatment option for this serious disease, bringing hope to these patients and their families."

"We are very excited that linperlisib has demonstrated such outstanding therapeutic benefit in relapsed/refractory follicular lymphoma. These findings give us confidence in the performance of linperlisib for our other ongoing clinical studies for different types of tumors," said Dr. Xu Zusheng, President, Research and Development of Yingli Pharma. "We look forward to bringing this PI3Kδ inhibitor that has been premiered in China, into global development for patients around the world."

Full analysis of the data from the study will be forthcoming through medical conferences and publications and can be followed on the Yingli Pharma website. Yingli Pharma is planning to submit an NDA application to NMPA based on the results of this registration study.

About Linperlisib

Linperlisib (YY-20394) is a highly selective PI3Kδ inhibitor that has shown superior efficacy, PK, and good pharmaceutical properties in preclinical research as an oral once-a-day agent. Linperlisib received FDA Orphan Drug Designations for FL and CLL/SLL and has an IND for a Phase II study in r/r FL in the United States. Linperlisib was awarded NMPA Breakthrough Therapy status in China. Additional linperlisib clinical trials are ongoing in PTCL, other lymphomas, solid tumors, and in combination with gemcitabine/oxaliplatin in r/r DLBCL.

About follicular lymphoma

Follicular lymphoma (FL) is the second most common type of NHL worldwide and accounts for 10-20% of NHL in China. Although FL is generally an indolent disease on diagnosis, the relapsed and refractory forms of FL are more aggressive and require innovative therapies. Dr. Qui reflected on the status of FL treatments, "In recent years, immunochemotherapy has gradually replaced chemotherapy and radiotherapy for the initial treatment of FL and other lymphomas. However, because patients progress on frontline therapies, safe and efficacious agents are needed to prolong treatment benefit for these lymphoma patients."

BeyondSpring Announces Submission of New Drug Application to U.S. FDA and China NMPA for Plinabulin and G-CSF Combination for the Prevention of Chemotherapy-Induced Neutropenia (CIN)

On March 31, 2021 BeyondSpring Inc. (the "Company" or "BeyondSpring") (NASDAQ: BYSI), a global biopharmaceutical company focused on the development of innovative cancer therapies, reported the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) and the China National Medical Products Administration (NMPA) for use of plinabulin in combination with granulocyte colony-stimulating factor (G-CSF) for the prevention of chemotherapy-induced neutropenia (CIN) (Press release, BeyondSpring Pharmaceuticals, MAR 31, 2021, View Source [SID1234577501]). Plinabulin in combination with a G-CSF therapy, which received breakthrough therapy designation from the U.S. FDA and the China NMPA for "concurrent administration with myelosuppressive chemotherapeutic regimens in patients with non-myeloid malignancies for the prevention of CIN," has the potential to raise the standard of care in CIN for the first time in 30 years.

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CIN remains a severely unmet medical need. Treatment or prevention of CIN with G-CSF has been the standard of care since Neupogen was approved in 1991. The main benefit of G-CSF treatment, however, is in Week 2 after chemotherapy. Week 1 after chemotherapy is considered the "neutropenia vulnerability gap" where over 75% of CIN-related clinical complications occur, including febrile neutropenia, infection, hospitalization and death. Plinabulin is the first agent seeking FDA approval that has the potential to fill this gap by working in Week 1 to prevent the onset and progression of CIN. Therefore, combining plinabulin and G-CSF may maximize the protection of patients for the full cycle of chemotherapy, as demonstrated in the PROTECTIVE-2 Phase 3 registration study.

"CIN is a major concern for physicians and their patients undergoing cancer treatment. Plinabulin provides benefits above and beyond what is currently available on the market and has the potential to be a game-changer for patients undergoing chemotherapy treatment," said Dr. Douglas Blayney, Professor of Medicine at Stanford University Medical School and global PI for CIN studies. "CIN, which can lead to life-threatening infections, is the number one reason for the 4D’s in chemotherapy (Decrease, Delay and Discontinue dose and Downgrade regimen). We hope plinabulin will allow patients to better tolerate chemotherapy, thus enabling patients to stick to their optimal treatment plan and avoid serious CIN complications."

The NDA submission is based on positive data from BeyondSpring’s PROTECTIVE-2 Phase 3 registration study which showed that plinabulin in combination with pegfilgrastim demonstrated superior CIN prevention benefit, compared to pegfilgrastim alone. The study met the primary endpoint, with a statistically significant improvement in the rate of prevention of grade 4 neutropenia (improved from 13.6% to 31.5%, p=0.0015) and met all key secondary endpoints, including duration of severe neutropenia (DSN) and absolute neutrophil count (ANC) nadir. In addition, the combination reduced clinical complications such as incidence and severity of febrile neutropenia (FN) and incidence and duration of hospitalization for FN patients. The combination is well tolerated, with an over 20% reduction of grade 4 Treatment-Emergent Adverse Events (TEAE) in the combination compared to that of pegfilgrastim alone. The NDA submissions will include five supportive trials that show consistent CIN prevention in various chemotherapy regimens and cancers in over 1,200 patients.

"This NDA submission is the culmination of years of research to prove that plinabulin can improve the long-established standard of care and address an unmet medical need to further alleviate the risk burden of CIN for patients receiving chemotherapy," said Dr. Lan Huang, co-founder, CEO, and chairman of BeyondSpring. "With CIN responsible for potentially delaying treatment and causing life-threatening infections, we hope that receiving the improved care represented by the plinabulin and G-CSF combination will allow patients to better tolerate chemotherapy and potentially see increased treatment success rates. We are grateful for the patients’ participation in plinabulin’s clinical trials and the participation and contributions of our investigators and our many other clinical partners."

Each year in the U.S., 110,000 patients receiving chemotherapy are hospitalized after developing CIN, a severe side effect that increases the risk of infection with fever (also called febrile neutropenia, or "FN"), which necessitates ER/hospital visits. Due to the COVID-19 pandemic, the updated National Comprehensive Cancer Network (NCCN) guidelines expanded the use of prophylactic G-CSFs, including pegfilgrastim, from high-risk patients only (chemo FN rate >20%), to include intermediate-risk patients (FN rate between 10-20%), to reduce the number of hospital/ER visits related to CIN. The revision of the NCCN guidelines effectively increases the addressable market of patients who may benefit from treatment with plinabulin, if approved, to approximately 440,000 cancer patients in the U.S. annually.

There is a large unmet medical need and a growing market for CIN prevention and treatment in China as well. According to Lancet Oncology, 60% of East Asia cancer patients are treated with chemotherapy1. In 2020, there were 4.6 million new cancer patients in China which could correspond to 2.8 million patients using chemotherapy and needing CIN prevention agents. According to IQVIA data, the G-CSF drug market (for CIN treatment) in China is growing at over 30% a year.

About PROTECTIVE-2 (Study 106) Phase 3 Registration Study
The Phase 3 portion of PROTECTIVE-2 was a double-blind and active-controlled global registration study. It was designed as a superiority study to compare the safety and efficacy of plinabulin (40 mg, Day 1 dose) + pegfilgrastim (6 mg, Day 2 dose) versus a single dose of pegfilgrastim (6 mg, Day 2 dose) in patients with breast cancer, treated with docetaxel, doxorubicin and cyclophosphamide (TAC, Day 1 dose) in a 21-day cycle. TAC is an example of high FN risk chemotherapy and is the regimen used in all G-CSF biosimilar registration studies.

The primary endpoint was the rate of prevention of Grade 4 neutropenia and secondary endpoints included DSN and mean ANC nadir in Cycle 1. Literature shows that despite the use of pegfilgrastim, 83 to 93 percent of patients treated with TAC still suffer Grade 4 neutropenia (or rate of Grade 4 neutropenia prevention at 7-17%), which demonstrates the severe unmet medical need for improved treatment2,3.

The ANC data, which are used to calculate these endpoints, were obtained through central laboratory assessments by Covance Bioanalytical Methods using standardized and validated analytical tests. Covance was the clinical contract research organization (CRO) for patient recruitment and monitoring of global sites for this study.

About CIN
Chemotherapy-induced neutropenia (CIN) is the primary dose-limiting toxicity in cancer patients who receive chemotherapy and is the primary cause for the 4D’s (Decrease, Delay, Discontinue dose and Downgrade regimen). The 4D’s lead to a decrease of the anti-cancer benefit of chemotherapy, e.g., >15% of dose reduction correlated to >50% survival reduction4. The National Comprehensive Cancer Network (NCCN) recently updated its treatment guidelines for CIN prophylaxis using G-CSFs to include both high- and intermediate-FN risk patients treated with chemotherapies, to preserve hospital and ER resources for COVID-19 patients, and to maximize protection from CIN. The NCCN’s action effectively doubled the number of patients recommended to receive CIN prophylaxis.

About Plinabulin
Plinabulin, BeyondSpring’s lead asset, is a selective immune-modulating microtubule-binding agent (SIMBA). A global Phase 3 clinical trial in CIN (PROTECTIVE-2) with plinabulin in combination with pegfilgrastim versus pegfilgrastim alone has been completed and is the basis for an NDA filing in the U.S. and China for the prevention of CIN. In this trial, plinabulin reduced the "neutropenia vulnerability gap" associated with G-CSF therapy alone. Additionally, a global Phase 3 study for the treatment of later-stage NSCLC in EGFR wild-type patients (DUBLIN-3) is now fully enrolled and will evaluate the combination of plinabulin and docetaxel versus docetaxel alone for overall survival in NSCLC patients. Plinabulin triggers the release of the immune defense protein, GEF-H1, which leads to two distinct effects: first is a durable anticancer benefit due to the maturation of dendritic cells resulting in the activation of tumor antigen-specific T-cells to target cancer cells5,6 and the second is early-onset action in CIN prevention after chemotherapy by boosting the number of hematopoietic stem/progenitor cells (HSPCs)7. Effects on HSPCs could explain the potential for plinabulin not only to prevent CIN but also to increase circulating CD34+ cells in patients. As a "pipeline in a drug," plinabulin is being broadly studied in combination with various immuno-oncology agents that could boost the effects of the PD-1 / PD-L1 antibodies.

Case Western Reserve University biotech startup Rodeo Therapeutics Corp. sold to Amgen Inc.

On March 31, 2021 Rodeo Therapeutics Corp., a drug-development startup founded by two leading researchers from Case Western Reserve University School of Medicine and a third scientific partner, reported that has been sold to Amgen Inc., a publicly traded international biopharmaceutical company (Press release, Case Western Reserve University, MAR 31, 2021, View Source [SID1234577491]).

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Under terms of the agreement, Amgen, based in Thousand Oaks, California, will acquire all outstanding shares of Rodeo for $55 million, plus "future contingent milestone payments potentially worth up to an additional $666 million in cash," the companies announced today. Total consideration to Rodeo stakeholders could potentially be worth up to $721 million in cash.

Rodeo Therapeutics is a privately held biopharmaceutical company based in Seattle that develops small-molecule therapies designed to promote regeneration and repair of multiple tissues. The therapies have the potential to help address conditions like colitis, among many others.

The company was created based on discoveries published in the peer-reviewed journal Science by three scientific founders: Sanford Markowitz, the Ingalls Professor of Cancer Genetics and Distinguished University Professor at Case Western Reserve; Stanton Gerson, interim dean of the Case Western Reserve School of Medicine and director of the Case Comprehensive Cancer Center; and Joseph Ready, a biochemistry professor at the University of Texas Southwestern.

"Amgen’s purchase of Rodeo marks a giant step forward toward bringing this Case Western Reserve-developed technology to patients," Markowitz said. "We are thrilled to be partnering with a world-class pharmaceutical company like Amgen, and to be able to benefit from its team of outstanding scientists and drug developers—as well as the company’s financial resources—to speed the development of this promising new class of drugs."

Initial studies will likely be done in patients with colitis and then hopefully expand to treating other diseases, Markowitz said.

The sale also marks the latest success story in Case Western Reserve’s efforts to "spin out," or transfer, university-based research and innovation from the lab to the commercial marketplace, especially in the biomedical field.

"This technology and these results are an example of how our process of identifying and investing in our own discoveries is working and is being recognized by the biotech industry," said Mark Chance, the School of Medicine’s vice dean for research. "Rodeo is only one example of the many companies started by Case Western Reserve University that are attracting the investors and investments needed to get our medical breakthroughs to patients."

The university’s technology transfer process has supported the emergence of such companies as Convelo Therapeutics Inc., a biotechnology firm discovering medicines for neurological disorders that announced a partnership with Genentech in 2019, and CardioInsight Technologies Inc., a medical-device company sold to Medtronic for about $93 million in 2015.

Rodeo’s science is based on the founders’ research, which showed how a drug-like molecule (called SW033291) could accelerate the recovery of damaged tissue in laboratory animal models of several human disease and medical conditions including healing of colitis and recovery from liver surgery and bone-marrow transplantation. Subsequent studies have shown that the compound can heal tissues in multiple additional disease settings.

Based on this science, Rodeo was co-founded in 2017 with Accelerator Life Science Partners, a venture capital firm that catalyzes the creation of high-quality, cutting-edge life science companies. Rodeo was focused on the development of versions of SW033291 to test in humans.

In the deal, Amgen acquires the license for the original Markowitz, Gerson, Ready and Rodeo-developed technologies, plus the rights to related technology developed by additional Case Western Reserve University School of Medicine faculty members Andrew Pieper, Amar Desai and Derek Taylor.

"Rodeo’s program is a strong strategic fit with Amgen’s inflammation portfolio and efforts to develop first-in-class therapeutics for patients," Amgen said in its announcement.

The final payout is based on reaching certain undisclosed milestones tied to the drug’s clinical and commercial success.

BAUSCH HEALTH AGREES TO SELL AMOUN PHARMACEUTICALS

On March 31, 2021 Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") reported that it and certain of its affiliates have entered into a definitive agreement to sell all of their equity interests in Amoun Pharmaceutical Company S.A.E. ("Amoun") to Abu-Dhabi based ADQ (the "Purchaser"), one of the region’s largest holding companies, for total gross consideration of approximately U.S. $740 million (including the assignment to the Purchaser of an intercompany loan granted by Bausch Health to Amoun), subject to certain adjustments (Press release, Bausch Health, MAR 31, 2021, View Source [SID1234577490]). As part of the transaction, cash generated by Amoun during the period from the locked-box date of January 1, 2021 to closing will be for the benefit of the Purchaser1 (subject to working capital during such period), and such cash is not expected to be part of Bausch Health’s consolidated results and will be adjusted for reporting purposes from the consideration, together with other gross to net adjustments, such as taxes and other items. Amoun is one of the largest and most recognized pharmaceutical companies in Egypt that manufactures, markets and distributes branded generics of human and animal health products.

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"The sale of Amoun marks significant progress in our efforts to reduce overall Bausch Health debt as we continue to pursue all opportunities to drive value for our shareholders, including preparing for the spinoff of Bausch + Lomb," said Joseph C. Papa, chairman and CEO, Bausch Health.

The transaction is expected to close in the first half of 2021, subject to customary closing conditions, including receipt of applicable regulatory approvals and the approval of the Financial Regulatory Authority in Egypt of the mandatory tender offer ("MTO") to be launched by the Purchaser for all of the issued share capital of Amoun. The shares of Amoun held by the Company and its affiliates will be tendered into the MTO at a per share price of EGP 37.806.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as financial advisors to Bausch Health, and Wachtell, Lipton, Rosen & Katz acted as legal advisor to Bausch Health in the transaction.

Mereo BioPharma Reports Full Year 2020 Financial Results and Recent Highlights

On March 31, 2021 Mereo BioPharma Group plc (NASDAQ: MREO) ("Mereo" or the "Company"), a clinical-stage biopharmaceutical company focused on oncology and rare diseases, reported financial results and for the year ended December 31, 2020 and provided an update on recent corporate highlights (Press release, Mereo BioPharma, MAR 31, 2021, View Source [SID1234577489]).

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"Despite the challenging landscape presented by the ongoing pandemic, this past year has been one of continued execution for Mereo, and I believe that 2020 was a highly successful and exciting year for the Company," said Dr. Denise Scots-Knight, Chief Executive Officer of Mereo. "We were able to further strengthen our partnering portfolio with licensing agreements for setrusumab and navicixizumab, with significant milestone payments tied to each deal. Our internal pipeline has continued to progress with etigilimab currently in a Phase 1b/2 basket study and alvelestat in a Phase 2 POC study for patients with AATD as well as a Phase 1 study in patients with COVID-19. Since the beginning of 2020, we successfully raised a total of $183 million (£138 million) through a combination of private placements, convertible loan notes and most recently a public offering in February 2021. The proceeds from these financing events, coupled with the upfront payments under the setrusumab and navicixizumab licensing agreements, will fund the continued advancement of our clinical programs and allow us to continue focusing on execution of our clinical and operational development strategies. As we look toward 2021, I believe that the Company is well positioned to deliver on multiple milestones and build upon the momentum we generated in 2020 as we continue to advance to our goal of becoming a leading biopharmaceutical company developing innovative therapeutics to improve outcomes for patients with rare diseases and select oncology indications."

Recent Product Highlights and Developments

Etigilimab (OMP-313M32)

Initiated Phase 1b/2 basket study in combination with an anti-PD-1 in a range of tumor types
Initial data expected second half 2021
Alvelestat (MPH-966)

Ongoing Phase 2 trial in 165 patients with AATD
Data expected in late 2021
Initiated Phase 1 study for the treatment of COVID-19 – data expected second half 2021
Setrusumab (BPS-804)

Rare pediatric disease designation in September 2020
Announced partnership with Ultragenyx for the development of setrusumab for the treatment of patients with OI in December 2020
Navicixizumab (OMP-305B83)

In January 2020 completed a global license agreement with OncXerna Therapeutics (formerly Oncologie, Inc.) for the further development and commercialization of navicixizumab.
Corporate Updates

Strengthened Management team

John Lewicki, PhD appointed Chief Scientific Officer, and Ann Kapoun, PhD appointed SVP Translational R&D, June 2020
Christine Fox appointed Chief Financial Officer, and Heidi Petersen appointed SVP Regulatory Affairs, October 2020
Suba Krishnan, M.D. appointed Senior Vice President of Clinical Development, November 2020
Delisted From AIM

Officially delisted from the AIM market of the London Stock Exchange on December 18, 2020
The Company’s American Depositary Shares ("ADSs") remain listed, and are only tradeable on Nasdaq
Upcoming Events

Needham Healthcare Conference, April 12-15, 2021
Jefferies Healthcare Conference, June 1-4, 2021
Full Year 2020 Financial Results

Full year 2020 research and development expenses were £16.3 million, compared to £23.6 million in 2019. R&D expenses relating to setrusumab decreased by £6.0 million, or 44%. The decrease was driven primarily by the completion of the adult Phase 2b study which reported top-line data in November 2019, with a further update in January 2020. Following the licensing and collaboration agreement with Ultragenyx, future ongoing development costs for setrusumab are expected to decrease significantly. R&D expenses relating to alvelestat remained consistent, reflecting the ongoing Phase 2 proof-of-concept study. R&D expenses relating to leflutrozole decreased by £1.0 million, or 88%, due to the completion of the Phase 2b study in 2019 and limited activity in 2020 following the completion of the study. Similarly, there were no ongoing studies for acumapimod in 2020 and this resulted in a decrease in R&D expenses for acumapimod of £0.3 million, or 72%. Partially offsetting the decrease, R&D expenses relating to etigilimab increased by £0.3 million, or 34%. The increase was driven primarily by the costs associated with preparing for the open label Phase 1b/2 basket study in combination with an anti-PD-1 in a range of tumor types. We expect the costs related to the etigilimab program to increase significantly in 2021.

Administrative expenses increased by £5.3 million, or 33%, from £15.9 million in 2019 to £21.2 million in 2020. The increase was primarily due to incremental legal and professional fees associated with various transactions during the year. Professional and legal fees increased from £1.7 million to £6.9 million in 2019 and 2020, respectively. The increase reflects transaction costs associated with the June 2020 Private Placement and the cancellation of admission of our ordinary shares to trading on the AIM market of London Stock Exchange in December 2020, along with higher costs associated with the Nasdaq listing and managing a larger business in two jurisdictions following the acquisition of Mereo BioPharma 5, partially offset by intellectual property related costs as a result of lower activity associated with setrusumab. Employee-related costs increased by £1.5 million to £7.3 million in 2020 primarily due to the expansion of our management team in 2020 compared to 2019. Premises-related costs increased by £1.7 million in 2020 primarily due to transaction costs associated with renegotiation of our office lease in Redwood City. This was partially offset by a gain on lease modification of £0.9 million. Offsetting these increases were lower travel-related costs, which decreased by £0.5 million from 2019 due to COVID-19 travel restrictions.

Net loss attributable to equity holders for the year 2020 was £163.6 million, compared to a net loss of £34.8 million in 2019, reflecting an operating loss of £37.6 million, a loss of £109.8 million due to changes in the fair value of financial instruments and a £10.9 million loss on disposal of intangible assets.

Total ordinary shares outstanding at December 31, 2020 were approximately 339 million shares. Total ADSs outstanding at December 31, 2020 were approximately 67.7 million, with each ADS representing five ordinary shares of the Company.

Cash and short-term deposits totaled £23.5 million as of December 31, 2020. Mereo anticipates that its current cash and short-term deposits, which includes the upfront payment received under the collaboration and license agreement with Ultragenyx and our recently completed public offering in February 2021, will extend the Company’s runway into 2024.