Philogen to participate at the Goldman Sachs Eleventh Annual Biotech Symposium on September 7, 2021

On June 28, 2021 Philogen reported that Co-founder, CEO and CSO, Prof. Dario Neri has been invited to participate at the Eleventh Annual Biotech Symposium organised by Goldman Sachs on September 7, 2021 (Press release, Philogen, JUN 28, 2021, View Source [SID1234584928]).

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The aim of our Symposium is to provide an opportunity for investors to get a broader perspective of the current opportunity set that Biotech companies offer through a series of one-on-one and small group meetings.

Philogen to participate at the Morgan Stanley Virtual 19th Annual Global Healthcare Conference on September 9-15

On June 28, 2021 Philogen reported that Co-founder, CEO and CSO, Prof. Dario Neri has been invited to participate at the 19th Annual Global Healthcare Conference organised by Morgan Stanley on September 9-15, 2021 (Press release, Philogen, JUN 28, 2021, View Source [SID1234584927])

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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The conference format includes virtual fireside chats for (C-level only) and one-on-one meetings, providing management the opportunity to meet with shareholders and top institutional investors throughout the day.

Entry Into A Material Definitive Agreement

On June 28, 2021, Oncotelic Therapeutics, Inc., formerly Mateon Therapeutics, Inc. (the "Company"), reported that it entered into a Securities Purchase Agreement (the "SPA") with Geneva Roth Remark Holdings, Inc. ("Geneva"), pursuant to which the Company issued to Geneva a Convertible Promissory Note (the "Geneva Note") in the amount of $103,750, on the same terms and subject to the same conditions as set forth in the Securities Purchase Agreement and Convertible Promissory Note as disclosed by the Company in its Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 1, 2021 (Filing, 8-K, Mateon Therapeutics, JUN 28, 2021, View Source [SID1234584573]).

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For a description of the terms and conditions of the SPA and Geneva Note, see the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on June 1, 2021, for which the form of the SPA and Geneva Note were attached as Exhibit 10.1 and Exhibit 10.2, respectively.

Extension of Maturity Date for J.H. Darbie Financing Notes & Issuance of Oncotelic Warrants

As previously disclosed in the Current Report on Form 8-K, filed with the Securities and Exchange Commission ("SEC") on July 23, 2020, and subsequently in the Current Report on Form 8-K filed with the SEC on March 26, 2021, the Company entered into subscription agreements with certain accredited investors (the "Investors"), whereby the Company issued and sold a total of 100 units ("Units"), with each Unit consisting of (i) 25,000 shares of the common stock, par value $0.01 per share ("Edgepoint Common Stock"), of EdgePoint AI, Inc., a Delaware Corporation ("EdgePoint"), a division of the Company, for a price of $1.00 per share of Edgepoint Common Stock; (ii) one convertible promissory note issued by the Company (the "Note"), convertible into up to 25,000 shares of EdgePoint Common Stock at a conversion price of $1.00 per share, or up to 138,889 shares of the Company’s common stock, par value $0.01 per share ("Common Stock"), at a conversion price of $0.18 per share; and (iii) 100,000 warrants, consisting of (a) 50,000 warrants to purchase an equivalent number of shares of EdgePoint Common Stock at $1.00 per share, and (b) 50,000 warrants to purchase an equivalent number of shares of Company Common Stock at $0.20 per share ("Oncotelic Warrant")(collectively, the "JH Darbie Financing").

On June 29, 2021, the Company and the Investors agreed to extend the maturity date of the Notes from June 30, 2021, to March 31, 2022. Additionally, the Company will issue to the Investors an aggregate of 20.0 million additional Oncotelic Warrants, and 2.0 million additional Oncotelic Warrants to J.H. Darbie & Co., Inc., as placement agent. Each Investor will be entitled to receive 200,000 additional Oncotelic Warrants for each Unit purchased. For a description of the JH Darbie Financing and the Units sold thereunder, see the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on July 23, 2020.

Novartis says it overpaid Roche’s Genentech nearly $210 million in a licensing deal—and it wants its money back

On June 28, 2021 Novartis reported it dutifully shelled out tens of millions to Genentech as part of a patent licensing deal that dated back to 2005 (Press release, Novartis, JUN 28, 2021, View Source [SID1234584562]). Later, the Swiss pharma discovered it accidentally overpaid by nearly $210 million

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Those are the central arguments in a lawsuit filed by Novartis against its Swiss pharma counterpart seeking $209.5 million. In the suit, which recently made its way to California federal court, Novartis says Genentech isn’t coughing up the dough.

Novartis claims Genentech was aware, or at least should’ve known, that the company was overpaying the entire time.

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The payments stemmed from a 2005 licensing agreement Genentech struck with then Chiron Corporation related to its antibody patents. Novartis picked up Chiron a year later and developed several commercial antibody products from the pact, notably immunology meds Ilaris and Cosentyx, the suit says.

RELATED: Novartis hits setback in bid to block Regeneron’s Eylea prefilled syringe as dual lawsuits drag on

Instead of alerting Novartis of the overpayments, Genentech continued to "seek, accept, and retain" the funds driven by Ilaris and Cosentyx sales, even though they weren’t entitled to them, Novartis argued in the filing.

While terms of the initial licensing deal weren’t disclosed, Novartis maintains it "performed all or substantially all of its obligations" under the deal and later learned of the overpayments after it expired.

Meanwhile, lawyers representing Genentech dismissed Novartis’ claims in a filing seeking to move the case from state to federal court, arguing the claims fall under federal patent law.

The companies weren’t immediately available for comment.

RELATED: Novartis’ closely watched canakinumab hits a snag in lung cancer. What’s next for the anti-inflammatory drug?

Cosentyx, which first launched in 2015, directly inhibits interleukin-17A (IL-17A), an important cytokine involved in the inflammation of psoriatic arthritis, moderate to severe plaque psoriasis, ankylosing spondylitis and non-radiographic axial spondyloarthritis.

The treatment has become Novartis’ largest brand, driving $3.9 billion in sales last year, up 13% compared with the year prior.

Meanwhile, sales of IL-1beta inhibitor Ilaris came in at roughly $873 million, up 30%. Despite efforts to push the medicine, also known as canakinumab, into fields outside immunology, Novartis has run into multiple setbacks, including in heart disease, COVID-19 and, most recently, non-small cell lung cancer.

Tragedy struck the CAR-T space this month with a US company halting a trial of its lead therapy after the deaths of two patients, a sobering reminder of the dangers involved in cell therapy. Image: Getty Safety in mind as Prescient Therapeutics develops next-generation CAR-T platform

On June 28, 2021 Prescient Therapeutics (ASX:PTX) reported that it is developing a next-generation CAR-T platform called OmniCAR, based on technology licensed from the University of Pennsylvania, a pioneer in the space, as well as Oxford University (Press release, Prescient Therapeutics, JUN 28, 2021, View Source;utm_medium=rss&utm_campaign=tragedy-struck-the-car-t-space-this-month-with-a-us-company-halting-a-trial-of-its-lead-therapy-after-the-deaths-of-two-patients-a-sobering-reminder-of-the-dangers-involved-in-cell-therapy-image-ge [SID1234584529]).

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Chief executive Steven Yatomi-Clarke acknowledges that some industry observers had assumed that safety was no longer a serious issue for CAR-T, but this latest tragedy puts safety back into sharp focus. Prescient’s OmniCAR platform seeks to make CAR-T therapy safer by enabling clinicians to control its activity even once infused into a patients

Right now, CAR-T involves injecting living cells into a patient’s body – their own genetically modified blood.

"Once these current generation CAR-T cells are infused, they propagate of their own accord, and you’ve got no way of controlling it," Yatomi-Clarke says.

"If a doctor gives you any other medication, if you have a bad reaction, what do they tell you to do? To stop taking it, reduce the dose, or maybe change medications. But when the medicine is a living cell you can’t yet do that."

‘Druggable and controllable’
But OmniCAR is different from current generation CAR-Ts. It is designed to be controlled even after it is infused into the patients. The key to this is the modular nature of the platform, which separates the CAR-T cell and the part that binds to the cancer cells. The therapy is viable but inactive until the two components come together and bind the cancer cells.

"We’re making CAR-T cells druggable and controllable," Yatomi-Clarke says. "Basically we are combing all of the good things about a T-cell – it can kill a cancer cell like nothing else – but giving it the control and flexibility that a doctor typically expects from a traditional medicine."

Yatomi-Clarke says traditional CAR-T therapies are like sending soldiers into battle with a single weapon, a single map, and no communication and control in the field.

"Whereas what we’ve got is a soldier, because of this modularity, we can arm it with any weapon, send it anywhere, direct it against any target, and have full communication and control."

The activity of the OmniCAR cells can be increased or decreased to achieve safe and efficacious levels. And even if the patient has a deleterious effect, a physician could simply stop administering the binder, and the engineered white blood cells would switch off.

"Because you can control it, it’s not a runaway train," Yatomi-Clarke says.

The doctor could later try the therapy again at a lower dose, without the need to manufacture and administer new CAR-T cells, he said.

This plug-and-play approach is also useful if the cancer mutates, which is a problem facing current generation CAR-T. Currently in that case the patient would be left with "all of the bad side effects of CAR-T, and zero benefits, Yatomi-Clarke says. But with OmniCAR the physician could simply switch out the binder, and the T-cells would be redirected to the new target.

As Stockhead reported on Thursday, Prescient confirmed that manufacturing is complete for a range of binders that target multiple cancers.

The eventual goal is to have off-the-shelf cell therapies, so doctors don’t have to spend 22 days harvesting and manufacturing a patient’s cells so they can be infused into their body, Yatomi-Clarke says.