On June 28, 2021 Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related cannabinoid-based medicine, reported the interim results of its second in-vivo POC study evaluating the efficacy of company’s proprietary drug candidate RCC-33 for the treatment of colorectal cancer on mice (Press release, Cannabics Pharmaceuticals, JUN 28, 2021, View Source [SID1234590050]). The study objective was to evaluate the potential efficacy of the RCC-33 drug candidate as a systemic treatment for colorectal cancer when administered orally. Interim study results confirmed the potential efficacy of RCC-33 as a systemic treatment for colorectal cancer when administered orally, showing a 30% reduction in tumor volume in comparison with sham control mice, after 24 days of treatment. The results indicated statistical significance with a p-value less than 0.05.

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The announcement comes following previously released in-vivo study results demonstrating a 33% reduction in tumor volume in mice treated with RCC-33 using intraperitoneal (IP) injection.

Inhibitory Effect of Cannabics RCC-33 (Oral Administration) on Tumor Growth in Mice Inoculated with Human Colorectal Cancer Cells
Gabriel Yariv, Cannabics Pharmaceuticals President & COO said: "Our first POC study in mice demonstrated that RCC-33 has potential anti-tumor effect on colorectal cancer. During the first POC study we used intraperitoneal (IP) administration, via injection to the abdomen, and while we were very pleased to see a 33% reduction in tumor volume, we did not know how RCC-33 would work when administered orally for systemic treatment. The leap between IP to oral administration is not a straightforward process, and it necessitated a great deal of attention. Today, after having seen the interim results, this second POC study is immensely important to us, as it reconfirms the potential of RCC-33 as a treatment candidate for colorectal cancer, as well as being efficacious via oral administration. This is another important step for us in the right direction".

Eyal Ballan Cannabics Pharmaceuticals CTO said "These positive results move us one step closer to in-human studies. After seeing the antitumor effect reconfirmed in this POC study, our next goal is to improve the bioavailability of the drug to be administered in our upcoming clinical studies".

On June 28, 2021 Tempest Therapeutics, Inc. (Nasdaq: TPST) ("Tempest"), a clinical-stage oncology company developing potentially first-in-class therapeutics that combine both targeted and immune-mediated mechanisms, reported the closing of its merger with Millendo Therapeutics, Inc. ("Millendo") (Press release, Tempest Therapeutics, JUN 28, 2021, View Source [SID1234585166]). Tempest’s stock will commence trading on June 28, 2021 on the Nasdaq Global Select Market under the trading symbol "TPST."

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In support of the merger, Tempest secured investments from a premier syndicate of healthcare investors composed of Versant Ventures, Rock Springs Capital, F-Prime Capital, Monashee Investment Management, Quan Capital, Lyfe Capital, Maven Investment Partners US, Lilly Asia Ventures and Eight Roads Ventures for a $30 million PIPE financing that closed concurrent with the completion of the merger. The net proceeds of the transaction are expected to fund the company’s operations and advancement of its programs into early 2023, including:

TPST-1495 (dual EP2/4 antagonist): completion of the ongoing monotherapy Phase 1 dose finding study, opening of a combination dose finding study of TPST-1495 with pembrolizumab, and the planned opening of both monotherapy and combination expansion studies in targeted patient populations;
TPST-1120 (PPAR⍺ antagonist): completion of the ongoing Phase 1 study of TPST-1120 in combination with nivolumab, and the expected initiation and completion of enrollment of a global, randomized Phase 1b/2 study of TPST-1120 in combination with the standard-of-care first-line regimen of atezolizumab and bevacizumab in previously-untreated patients with advanced or metastatic HCC, pursuant to a collaboration between Tempest and F. Hoffmann-La Roche; and
Research: advancement of additional novel oncology research programs, including an oral inhibitor of TREX-1 intended to selectively activate STING in tumors and stimulate anti-tumor immunity.
"The closing of this merger fulfills an important 2021 goal for Tempest," said Steve Brady, chief executive officer of Tempest. "With our novel programs, including TPST-1495 and TPST-1120 progressing in the clinic, access to the public markets was of strategic importance as we look forward to a number of potential catalysts in the future and advance towards our goal to offer patients with cancer meaningful therapeutic options."

Transaction Terms and Leadership Team Updates

In connection with the closing of the merger, Millendo effected a 1:15 reverse split of its common stock. Tempest has approximately 6.7 million shares of common stock outstanding after giving effect to the terms of the transaction. Tempest stockholders prior to the merger, combined with investors in the concurrent financing, collectively own approximately 81% of the outstanding shares, and prior Millendo stockholders own approximately 19% of the outstanding shares.

Effective as of the closing of the merger, Geoff Nichol, chief medical officer of BioMarin, and Steve Brady, chief executive officer of Tempest, are joining Mike Raab, president and chief executive officer of Ardelyx, Tom Woiwode, managing director, Versant Ventures, Tom Dubensky, president of Tempest, and Stella Xu, managing director, Quan Capital, on the Tempest board of directors.

Piper Sandler served as the exclusive financial advisor and placement agent to Tempest, and Sidley Austin served as Tempest’s legal counsel. SVB Leerink served as the exclusive financial advisor to Millendo and WilmerHale served as Millendo’s legal counsel.

On June 28, 2021 Philogen reported the organization of a non-deal Roadshow with Investors on July 5-7, 2021 (Press release, Philogen, JUN 28, 2021, View Source [SID1234584931]). The event will be organised together with Mediobanca, Goldman Sachs and Stifel.

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On June 28, 2021 Philogen reported its participation at the virtual 11th Post-Chicago Meeting on Melanoma / Skin Cancer organised by the European Association of Dermatology-Oncology and the Melanoma World society taking place on July 8- 9, 2021 (Press release, Philogen, JUN 28, 2021, View Source [SID1234584930]).

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Philogen is a Sponsor of the event and organises a Satellite Symposium on July 9, 2021 (09:00-09:30 CET).

On June 28, 2021 Philogen reported that it is attending the 5th Annual EU Summer Investor Virtual Tour organized by Solebury Trout & Venrock on July 13-14, 2021 (Press release, Philogen, JUN 28, 2021, View Source [SID1234584929]).

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Co-founder, CEO and CSO, Prof. Dario Neri to give a presentation on July 13th at 12.00pm ET / 6.00pm CEST.