Jazz Pharmaceuticals Announces Participation at the 10th Annual J.P. Morgan Napa Valley Forum

On March 22, 2021 Jazz Pharmaceuticals plc (Nasdaq: JAZZ) reported that the company will webcast its corporate presentation at the 10th Annual J.P. Morgan Napa Valley Forum (Press release, Jazz Pharmaceuticals, MAR 22, 2021, View Source [SID1234576977]).

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Bruce Cozadd, chairman and chief executive officer, will provide an overview of the company and a business and financial update on Monday, March 29, 2021, at 12:00 p.m. EST / 5:00 p.m. GMT.

A live audio webcast of the presentation may be accessed from the Investors section of the Jazz Pharmaceuticals website at www.jazzpharmaceuticals.com.

An archive of the webcast will be available for at least one week following the presentation on the Investors section of the company’s website at www.jazzpharmaceuticals.com.

Seneca Biopharma Reports 2020 Yearend Results

On March 22, 2021 Seneca Biopharma, Inc. (Nasdaq: SNCA), a biopharmaceutical company focused on developing novel treatments for diseases of high unmet medical need, reported its financial results for the year ended December 31, 2020 (Press release, Seneca Biopharma, MAR 22, 2021, View Source [SID1234576976]).

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Business Highlights for 2020 to date.

During 2020, the Company achieved the following business milestones:

Entered into a definitive Merger Agreement with Leading BioSciences, Inc. (LBS), a privately held company focused on developing novel therapeutics to improve human health through therapeutic protection of the gastrointestinal mucosal barrier.
Completed offerings resulting in net proceeds of over $14.7 million.
Continued progress on the Company’s out-licensing effort to partner NSI-566 and reached an agreement to license NSI-189.
Announced the completion of the last subject’s follow-up assessment in the Company’s non-GCP Phase II trial evaluating NSI-566, for the treatment of chronic ischemic stroke.
Financial Results for the Year Ended December 31, 2020

Cash Position and Liquidity: At December 31, 2020, cash was approximately $10.5 million as compared to approximately $5.1 million at December 31, 2019.

Operating Loss: Operating loss for the year ended December 30, 2020 was $10.7 million compared to a loss of $8.6 million for the comparable 2019 period. The increase in operating loss for 2020 was due to an increase in G&A expenses which reflects an enhanced management structure to support corporate objectives as well as professional fees in connection with the proposed merger, when compared to the same period of 2019.

Net Loss: Net loss for the year ended December 31, 2020 was $16.3 million, or $1.17 per share, compared to a loss of $8.4 million, or $3.80 per share on a post-reverse stock-split basis, for the same period in 2019. The 2020 increase in net loss was primarily attributed to an increase in G&A, as noted above, and a non-cash expense of $5.6 million related to the January 2020 warrant inducement offering.

Anixa Biosciences Increases Previously Announced Bought Deal Offering of Common Stock to $22.5 Million

On March 22, 2021 Anixa Biosciences, Inc. (NASDAQ: ANIX) ("Anixa" or the "Company"), a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, reported that, due to demand, the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 4,285,715 shares of common stock of the Company at a public offering price of $5.25 per share, less underwriting discounts and commissions (Press release, Anixa Biosciences, MAR 22, 2021, View Source [SID1234576975]). The Company also has granted the underwriter a 30-day option to purchase up to an additional 642,857 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 25, 2021, subject to satisfaction of customary closing conditions.

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H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The gross proceeds of the offering are expected to be approximately $22.5 million, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by the Company and excluding the exercise of the underwriter’s option to purchase additional shares. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, ongoing research and pre-clinical studies, clinical trials, the development of new biological and pharmaceutical technologies, investing in or acquiring companies that are synergistic with or complementary to its technologies, and licensing activities related to current and future product candidates and working capital.

The shares of common stock are being offered pursuant to an effective registration statement on Form S-3 (File No. 333-232067) that was filed with the U.S. Securities and Exchange Commission ("SEC") on June 11, 2019 and declared effective on June 21, 2019. The shares of common stock may be offered only by means of a prospectus supplement forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and, upon filing, may be obtained on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at [email protected] or by phone at (212) 856-5711.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

EpimAb Biotherapeutics Raises $120M in Series C Financing to Advance Bispecific Programs and Broaden Clinical Pipeline

On March 22, 2021 EpimAb Biotherapeutics, a clinical stage biotech company specializing in bispecific antibody development, reported the closing of a $120 million Series C financing round (Press release, EpimAb Biotherapeutics, MAR 22, 2021, View Source [SID1234576974]). The round was co-led by China Merchants Bank International (CMBI) and Mirae Asset Financial Group (Mirae), and joined by Hony Capital, Cormorant Asset Management, Yanchuang Capital, Octagon Capital, renowned cultural entrepreneur and investor Adrian Cheng and ShangBay Capital, with strong participation from existing investors such as Decheng Capital, SDIC Fund, Sherpa Healthcare Partners, and Hidragon Capital. Proceeds from the financing will be used to fund the ongoing clinical development of EMB-01, EMB-02 and EMB-06, and to expand the company’s pipeline of novel bispecific antibodies and other biologics. Tony Rong, nominated by CMBI, and Sungwon Song, nominated by Mirae, will also join the EpimAb Board of Directors.

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"The completion of our Series C financing will enable us to accelerate the development of our three clinical assets EMB-01, EMB-02 and EMB-06, and to advance our rich pipeline of preclinical programs into the clinic as we continue to build on our portfolio of novel bispecific antibodies generated based on our proprietary FIT-Ig technology," said Dr. Chengbin Wu, founder and CEO of EpimAb Biotherapeutics. "With three candidates currently progressing through clinical trials and several ongoing high-value development projects in the pipeline poised to move towards the clinic, we are confident in our development strategy and our potential for long-term value generation. We greatly appreciate the support from our new and current investors as we move into this next phase of our company’s development and remain committed to bringing innovative bispecific antibody therapeutics to patients worldwide."

EpimAb is creating a pipeline of novel proprietary bispecific antibody therapeutics with a focus on oncology and other areas of high value to patients. EMB-01, EpimAb’s lead candidate designed to simultaneously target EGFR and cMET on tumor cells, is currently progressing through a Phase I/II clinical study in both China and the U.S. EMB-02, EpimAb’s second clinical candidate, which simultaneously targets two checkpoint proteins, PD-1 and LAG-3, and has shown strong anti-tumor activities in preclinical models resistant to standard anti-PD-1 monotherapies, recently received FDA clearance to progress into the clinic in the U.S. EMB-06, a T cell engaging bispecific designed to simultaneously target CD3 and BCMA with differentiated properties, has been cleared to initiate clinical trials in Australia.

"EpimAb is among the premier innovative biopharmaceutical companies in China, revolutionizing the bispecific antibody space with a proprietary technology that has global potential," said Tony Rong. "As we continue to expand our global life sciences portfolio, CMBI is committed to support EpimAb’s mission of bringing novel bispecific therapeutics to patients."

"Each of EpimAb’s assets impressed us with enormous potential and a unique approach to treating areas of high unmet medical need. EpimAb’s dedicated pipeline of bispecific antibodies with best-in-class mechanisms makes it one of the driving forces behind Chinese biopharma innovations," said Sungwon Song. "Mirae is excited to be a part of the company’s rapid evolution to become a global leader in its space."

Scholar Rock Announces Publication of Preclinical Pharmacology, Pharmacokinetics, and Safety Profile of SRK-181 in the International Journal of Toxicology

On March 22, 2021 Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, reported the publication of preclinical development data for SRK-181 in the peer-reviewed journal International Journal of Toxicology (Press release, Scholar Rock, MAR 22, 2021, View Source [SID1234576973]). SRK-181 is a product candidate that has been shown to be a potent and highly specific inhibitor of latent growth factor-beta 1 (TGFβ1) activation in preclinical studies. SRK-181 is being developed to overcome primary resistance to checkpoint inhibitor therapy and is currently being studied in the two-part DRAGON Phase 1 trial in patients with locally advanced or metastatic solid tumors exhibiting primary resistance to anti-PD-(L)1 therapy.

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"This publication provides a comprehensive preclinical assessment of the pharmacology, pharmacokinetics, and safety of SRK-181, which support its evaluation in the DRAGON Phase 1 trial," said Gregory Carven, Ph.D., Chief Scientific Officer of Scholar Rock. "The initial clinical response and safety data from the DRAGON trial, which we anticipate by end of year, will provide an early look into SRK-181’s safety and tolerability profile and the potential for a specific inhibitor of latent TGFβ1 to overcome the immune exclusion that we believe, for many patients, is responsible for primary resistance to checkpoint inhibitor therapies."

Targeting the TGFβ1 Pathway

Greater understanding of the role of TGFβ signaling in promoting cancer progression has led to heightened interest in the development of therapies that inhibit the TGFβ pathway. However, most of the approaches to date have been non-selective and target at least two of the three TGFβ isoforms, which may limit the therapeutic window and potentially result in a lack of efficacy, an unfavorable safety profile, or a combination of the two. Examples of dose-limiting toxicities observed nonclinically for nonselective anti-TGFβ therapies include cardiovascular abnormalities, skin lesions, epithelial oral hyperplasia, and gingival bleeding.

Scholar Rock’s approach to targeting the TGFβ pathway is fundamentally different. SRK-181 is a highly specific inhibitor of the latent TGFβ1 isoform with minimal or no binding to latent TGFβ2, latent TGFβ3, or any of the active TGFβ growth factors based on in vitro studies. Based on preclinical evaluations of SRK-181’s pharmacologic and safety profiles across multiple animal species, SRK-181 may offer an improved safety profile and a wider therapeutic window than non-selective TGFβ inhibitors.

About the Preclinical Data

The International Journal of Toxicology publication, "Nonclinical Development of SRK-181: An Anti-latent TGFβ1 Monoclonal Antibody for the Treatment of Locally Advanced or Metastatic Solid Tumors," provides a comprehensive preclinical assessment of the pharmacology, pharmacokinetics, and safety of SRK-181. (Welsh et al., Int J. Tox, March 19, 2021). Key findings include:

Selective inhibition of latent TGFβ1 activation by SRK-181 was shown to avoid dose-limiting toxicities associated with pan-TGFβ inhibitors in preclinical pharmacology studies.
In-vitro studies showed that SRK-181 had no effect on human platelet aggregation, activation, or binding and that SRK-181 does not trigger a proinflammatory cytokine response in peripheral blood mononuclear cells (PBMC).
Four-week toxicology study showed that weekly intravenous administration of SRK-181 achieved sustained serum exposure and was well-tolerated in rats and monkeys with no treatment-related adverse findings.
No observed adverse effect level (NOAEL) of 200 mg/kg and 300 mg/kg were achieved in rats and cynomolgus monkeys, respectively.
Preclinical pharmacologic and pharmacokinetics assessments provided support for the dose-selection strategy for the ongoing DRAGON Phase 1 trial in patients with solid tumors.
About SRK-181

SRK-181 is a selective inhibitor of TGFβ1 activation and is an investigational product candidate being developed to overcome primary resistance to checkpoint inhibitor therapy, such as anti-PD-(L)1 antibodies. TGFβ1 is the predominant TGFβ isoform expressed in many human tumors, particularly for those tumors where checkpoint therapies are currently approved. Based on profiling of human tumors that are resistant to anti-PD-(L)1 therapy, data suggests TGFβ1 is a key contributor to excluding immune cell entry into the tumor microenvironment, thereby preventing normal immune function. Scholar Rock believes SRK-181 has the potential to overcome this immune cell exclusion and induce tumor regression when administered in combination with anti-PD-(L)1 therapy. By specifically targeting the latent TGFβ1 isoform, Scholar Rock hypothesizes that SRK-181 can increase the therapeutic window by potentially avoiding toxicities associated with non-selective TGFβ inhibition. A Phase 1 proof-of-concept clinical trial in patients with locally advanced or metastatic solid tumors is ongoing. The effectiveness and safety of SRK-181 have not been established and SRK-181 has not been approved for any use by the FDA or any other regulatory agency.