Bioasis Technologies Inc. and Oxyrane UK Ltd. enter into a Research Collaboration

On June 30, 2021 Bioasis Technologies Inc. and Oxyrane UK are repored to announce the initiation of a research collaboration (Press release, Oxyrane, JUN 30, 2021, View Source [SID1234625993]).

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Bioasis is a pre-clinical, research-stage biopharmaceutical company developing a proprietary xB3 TM platform technology for the delivery of therapeutics across the blood-brain barrier (BBB) and the treatment of CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases.

Oxyrane is developing enhanced enzyme replacement therapies (ERT) for lysosomal storage diseases (LSDs) using a proprietary, glyco-engineered yeast expression system for efficient targeting of enzymes to the lysosome. The research collaboration will focus on combining xB3 TM technology and Oxyrane’s OxyCAT platform to deliver an undisclosed enhanced enzyme replacement therapy into the brain.

Dr. Deborah Rathjen, Bioasis’ Executive Chair said, "We are excited to be collaborating with Oxyrane on this initiative to evaluate the combination of both our technologies to meet an unmet need for patients with LSDs for enzyme replacement therapies with greater efficacy. Bioasis’ technology has demonstrated preclinical success in delivering enzyme replacement therapy into the brain and the aim of this collaboration is to fast track the development of a next generation approach to enzyme replacement therapy with the potential for improved peripheral activity combined with brain penetrance to address neurological symptoms".

"We have been impressed by Bioasis’ technology for BBB delivery of enzyme replacement therapy and our technologies are very complementary so this collaboration is a natural fit. Oxyrane’s technology produces ERTs with enhanced cellular uptake and superior pharmacodynamics in a cost-efficient manner which we believe will be an overall benefit to patients", commented Dr. Wouter Vervecken the CEO of Oxyrane.

On behalf of the Board of Directors of Bioasis Technologies Inc.
Deborah Rathjen

HUTCHMED Announces the Closing of the Global Offering and the Primary Listing in Hong Kong

On June 30, 2021 HUTCHMED (China) Limited ("HUTCHMED" or the "Company") (Nasdaq/AIM: HCM) reported the listing of its ordinary shares ("Shares") on the Main Board of the Stock Exchange of Hong Kong Limited (the "SEHK") under the stock code "13" and the closing of its previously-announced primary offering of 104,000,000 new ordinary shares on the SEHK (the "Offer Shares"), which comprises an international offering of 91,000,000 Offer Shares ("International Offering") and a Hong Kong public offering of 13,000,000 Offer Shares (the "Hong Kong Public Offering", and together with the International Offering, the "Global Offering") (Press release, Hutchison China MediTech, JUN 30, 2021, View Source [SID1234586914]).

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The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, were approximately HK$4.17 billion. In addition, the Company has granted the international underwriters an over-allotment option, exercisable from June 30, 2021 until 30 days after the last day for lodging applications under the Hong Kong Public Offering, to require the Company to issue up to an additional 15,600,000 new Shares at the Offer Price (defined below).

The Company entered into cornerstone investment agreements with investors affiliated with The Carlyle Group, Canada Pension Plan Investment Board, General Atlantic, HBM Healthcare Investments and CICC Grandeur Fund. Pursuant to such agreements, they subscribed for a total of 63,215,500 Offer Shares, representing approximately 61% of the Offer Shares offered under the Global Offering (assuming the over-allotment option is not exercised).

With effect upon the listing of the Shares on the Main Board of the SEHK, the board of directors of the Company has adopted the Hong Kong Corporate Governance Code (as set out in Appendix 14 to the Rules Governing the Listing of Securities on the SEHK), in replacement of the UK Corporate Governance Code (published by the UK Financial Reporting Council on July 15, 2018). The Company’s updated corporate governance statement of compliance is available on the Company’s website at View Source

As announced on June 23, 2021, the final offer price for both the International Offering and the Hong Kong Public Offering (the "Offer Price") had been set at HK$40.10 per Share, which is equivalent to approximately US$25.82 per American depositary share ("ADS") or £3.70 per Share. Each ADS represents five ordinary shares of the Company.

Morgan Stanley Asia Limited, Jefferies Hong Kong Limited and China International Capital Corporation Hong Kong Securities Limited are the joint sponsors for the Global Offering.

Information about the Global Offering
Sales of Shares outside of Hong Kong (other than certain Shares which were sold to investors in reliance on Regulation S or another exemption from the registration requirements of the U.S. Securities Act of 1933) initially offered in the United States and sold outside the United States that may be resold from time to time in the United States were offered pursuant to an automatically effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement and final prospectus supplement relating to and describing the terms of the Global Offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. An electronic version of the prospectus supplement and the accompanying prospectus relating to these securities, as filed with the SEC, may be obtained for free by mailing the request to: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or E-mail: [email protected]; Jefferies Hong Kong Limited, Email: [email protected]; and China International Capital Corporation Hong Kong Securities Limited, Email: [email protected]

This announcement is not directed to, or intended for distribution or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

Global Offering Use of Proceeds
The net proceeds from the Global Offering to be received by the Company are estimated to be approximately HK$3,950 million (assuming the over-allotment option is not exercised), based on the Offer Price of HK$40.10, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company currently intends to apply such net proceeds for the following purposes:

approximately HK$1,975 million (or approximately 50% of the net proceeds) to advance the Company’s late-stage clinical programs for savolitinib, surufatinib, fruquintinib, HMPL-689 and HMPL-523 through registration trials and potential NDA submissions;
approximately HK$395 million (or approximately 10% of the net proceeds) to support further proof-of-concept studies and fund continued expansion of the Company’s product portfolio in cancer and immunological diseases through internal research, including the development cost of early-clinical and preclinical-stage pipeline drug candidates;
approximately HK$790 million (or approximately 20% of the net proceeds) to further strengthen the Company’s integrated capabilities across commercialization, clinical and regulatory and manufacturing;
approximately HK$593 million (or approximately 15% of the net proceeds) to fund potential global business development and strategic acquisition opportunities to complement the Company’s internal research and development activities; and
approximately HK$197 million (or approximately 5% of the net proceeds) for working capital, expanding internal capabilities globally and in China, and general corporate purposes.

Ensysce Biosciences Announces Closing of Merger

On June 30, 2021 Ensysce Biosciences, Inc. ("Ensysce" or the "Company") (NASDAQ: ENSC) (OTC: ENSCW) reported that it has closed its previously announced merger with Leisure Acquisition Corp. ("LACQ") (Press release, Ensysce Biosciences, JUN 30, 2021, View Source [SID1234585501]). The combined company, Ensysce Biosciences, Inc., will commence trading its common stock and warrants under the ticker symbols "ENSC" and "ENSCW," respectively, on The Nasdaq Capital Market and OTC Market July 1, 2021. The merger was approved by LACQ’s shareholders on June 28, 2021.

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"The completion of our merger with LACQ is an extraordinary milestone for our company, our employees, and our shareholders," said Dr. Lynn Kirkpatrick, CEO of Ensysce. "We set out to stem the prescription drug abuse epidemic with our new class of agents and we’re excited to build on our momentum as a public company by bringing our unique pipeline of products to patients in need. Crucially, we are led by our highly qualified and experienced board and leadership team that is committed to developing safer prescription drug options for both prescribers and patients. Our board and management team’s experience, extensive relationships and access to the public capital markets position us well for the future and we look forward to creating long-term value for all stakeholders."

Bob Gower, Executive Chairman of Ensysce stated, "The merger with LACQ has provided Ensysce with the opportunity to progress our clinical programs rapidly, and to focus on expanding our pipelines of products in the pain, OUD and ADHD space."

LACQ’s former Executive Chairman Lorne Weil and Chief Executive Officer Daniel Silvers jointly commented, "We are delighted to close our merger with the Ensysce team as it seeks to accelerate its growth and ultimately bring about highly novel science to improve the safety of prescription drugs, as a publicly listed company."

Proskauer Rose LLP acted as legal counsel to LACQ. Troutman Pepper LLP acted as legal counsel to Ensysce.

Viewpoint Molecular Targeting® Appoints Ewa Matczak MD, as Chief Medical Officer

On June 30, 2021 Viewpoint Molecular Targeting, Inc. ("Viewpoint" or the "Company"), a radiopharmaceutical company developing precision lead-212-based α-particle oncology therapeutics and complementary diagnostic imaging agents, reported the appointment of Ewa Matczak MD to the company as Chief Medical Officer (Press release, Viewpoint Molecular Targeting, JUN 30, 2021, https://viewpointmt.com/viewpoint-molecular-targetingr-appoints-ewa-matczak-md-as-chief-medical-officer/ [SID1234585492]).

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Dr. Matczak is a medical oncologist/hematologist who spent the first 10 years of her career in basic science research, clinical research and teaching. Her post-medical training included fellowships and research positions at the National Cancer Institute, Columbia Presbyterian Medical Center and Harvard Medical School. She then transitioned to industry and has over 20 years of experience in early and late-stage drug development, particularly in solid tumors and hematology/oncology. Dr. Matczak has held clinical development roles at multiple leading global pharmaceutical companies including, Bayer, Novartis, Eisai and Pfizer.

"We are incredibly pleased to welcome Dr. Matczak as our Chief Medical Officer. She has an impressive track record in early and late-stage drug development with extensive experience working for multiple global pharmaceutical companies. We look forward to leveraging her expertise as we advance our novel theranostics for the treatment and diagnosis of oncology indications with significant unmet need," commented Frances Johnson MD, CEO of Viewpoint.

Dr. Matczak most recently served as VP, Clinical Sciences at Glenmark Pharmaceuticals, where she was responsible for leading development with focus on immune-oncology and building the oncology team. Prior to that, she served as the Associate VP, Oncology at Hengrui Therapeutics where she played a key role in development, oversight and establishment of the company’s Oncology program. For nearly a decade she held roles at Pfizer, including Director and Senior Director of Global Medical Affairs as U.S. Sutent Lead and RCC Lead; and Bosutinib Global Clinical Lead in Clinical Development. During her time at Pfizer, she provided leadership in commercial and drug development strategies, clinical trial design, Investigator-initiated research strategies and implementation. Additionally, Dr. Matczak served as Senior Director /International Program Team Leader at Eisai Pharmaceuticals for two targeted therapy agents in early development; Medical Director/Clinical Investigations Leader in the Research & Development Oncology Business Unit, Novartis Pharmaceutical Corporation; and Associate Medical Director/Medical Expert for Clinical Pharmacology at Bayer HealthCare Pharmaceutical. Prior to industry she spent over a decade in basic science research, clinical research and teaching at Columbia Presbyterian Medical Center, the US NIH National Cancer Institute, and Harvard Medical School.

Dr. Matczak added, "The Viewpoint platform technology is among the most innovative and potentially disruptive technologies in alpha-particle therapeutics that I have seen to-date. I am excited to be joining the Company at such a pivotal moment as we enter human clinical studies and gain momentum across multiple fronts. I look forward to further working alongside the team to propel the Company’s potentially transformative new class of cancer therapeutics and complementary diagnostic imaging agents forward to provide solutions to cancer patients where there remains significant unmet need."

Dr. Matczak received her Medical Degree from SUNY Downstate, NY. She completed her internal medicine internship, and residency and oncology/hematology fellowship at Columbia Presbyterian under Dr. Karen Antman in New York and she completed her HIV Oncology training and research at Harvard Institute of Medicine/Beth Israel Deaconess with Jerome Groopman where she remained on faculty until she joined the Clinical Trial Evaluation Program (CTEP) at the National Cancer Institute (NCI). She was a National Institute of Health (NIH) Intramural Research Awardee in Dr. Bob Gallo’s Lab. Dr. Matczak organized and led multi-disciplinary translational research clinics in Kaposi’s Sarcoma and HPV. She was a NIH investigator, and an AIDS Malignancy Consortium and Eastern Cooperative Oncology Group member.

HutchMed Completes $537 Million Hong Kong IPO for Oncology Drugs

On June 30, 2021 HutchMed, a Shanghai novel drug company, reported that it completed a $537 million IPO on the Hong Kong exchange, its third global listing (Press release, Hutchison China MediTech, JUN 30, 2021, View Source [SID1234584540]). The company is also listed on London’s AIM exchange and NASDAQ. HutchMed (formerly Hutchison Chi-Med) has three novel approved oncology drugs in China, and it has seven more candidates in development. Following the IPO, its shares rose 20% ($6.49) to $40.02 in early trading on NASDAQ, giving the company a market capitalization of $6 billion.

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