On June 17, 2021 Innovent Biologics, Inc. ("Innovent", HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of cancer, metabolic, autoimmune and other major diseases, reported that the first patient has been dosed in a Phase II basket trial of taletrectinib for solid tumors containing NTRK fusion (NCT04617054) (Press release, Innovent Biologics, JUN 17, 2021, View Source [SID1234584145]).

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In June 2021, Innovent entered an exclusive agreement with AnHeart Therapeutics Co., Ltd. ("AnHeart"), a clinical stage oncology company focused on underserved patients in global markets, under which Innovent obtained exclusive rights to co-develop and commercialize taletrectinib in Greater China.

Dr. Hui Zhou, Senior Vice President of Clinical Development, Innovent Biologics, stated, "Many patients with rare conditions, like NTRK fusion-positive cancer have limited treatment options and poor access to targeted therapies. We are very pleased to see that our partner AnHeart is advancing the phase II trial of taletrectinib in NTRK fusion driven solid tumors. We will work closely with AnHeart to bring taletrectinib to patients in Greater China."

"Building upon the promising preliminary results in the Phase II trials for non-small cell lung cancer (NSCLC) with ROS1 fusions, we are moving forward with the Phase II trial of taletrectinib for NTRK fusion-driven solid tumors," said Bing Yan, MD, Co-founder and Chief Medical Officer of AnHeart. "We plan to enroll approximately 40 patients in this open-label, single-arm, multi-center Phase II study in China."

About Taletrectinib

Taletrectinib is an investigational next-generation tyrosine kinase inhibitor (TKI) designed to effectively target ROS1 and NTRK fusion mutations with potential to treat TKI-naïve or pre-treated patients. ROS1 rearrangement is estimated to be an oncogenic driver in approximately 2 to 3 percent of patients with advanced NSCLC, and NTRK rearrangement is estimated to be an oncogenic driver in approximately 0.5 percent of patients with other advanced solid tumors. More information about the ongoing TRUST (Taletrectinib ROS1 LUng STudy) trial and the basket trial in NTRK fusion positive solid tumors of taletrectinib may be found by searching clinical trial identifiers NCT04395677 and NCT04617054, respectively at View Source

On 1 June 2021, Innovent and Anheart announced an exclusive license agreement for the co-development and commercialization of AnHeart’s lead drug candidate, taletrectinib – a next-generation tyrosine kinase inhibitor (TKI) designed to effectively target ROS1 and NTRK – in Greater China, including mainland China, Hong Kong, Macau and Taiwan.

On June 17, 2021 Jacobio Pharmaceuticals (1167.HK) reported that the first two patients have been dosed in the Phase 1/2a clinical trial of SHP2 inhibitor JAB-3312 in combination with PD-1 antibody Pembrolizumab and MEK inhibitor Binimetinib respectively, thereby triggering the US$20 million milestone payment from AbbVie (Press release, Jacobio Pharmaceuticals, JUN 17, 2021, View Source [SID1234584144]).

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The US$20 million payment is the first milestone payment following the initial upfront fee of US$45 million at the outset of the Jacobio and AbbVie’s collaboration. "Jacobio’s SHP2 inhibitor JAB-3068 is the second SHP2 inhibitor drug candidate to receive investigational new drug (IND) approval from the U.S. FDA to enter clinical development. Since embarking on our collaboration with AbbVie, we have been working with AbbVie to accelerate the global development of SHP2 inhibitors, including JAB-3068 and JAB-3312. This clinical milestone provides financial support and injects confidence into our follow-up research and development," stated Dr. Yinxiang Wang, Chairman and CEO of Jacobio.

Jacobio entered into a licensing agreement with AbbVie in May 2020 to develop and commercialize SHP2 inhibitors, including JAB-3068 and JAB-3312, on a worldwide basis. SHP2 inhibitors (JAB-3068 and JAB-3312) are Jacobio’s innovative, in-house, small molecule anti-cancer drug candidates, which are being investigated in clinical trials as either monotherapy or in combination therapy at more than 30 sites globally.

On June 17, 2021 Rakuten Medical, Inc. (HQ: San Mateo, Calif.; Chairman and CEO: Hiroshi Mikitani; hereinafter "Rakuten Medical") and Shimadzu Corporation (HQ: Kyoto, Japan; President and CEO: Teruhisa Ueda; hereinafter "Shimadzu") reported a joint development and commercialization agreement to advance a medical device for use on the Illuminox platform (Press release, Rakuten Medical, JUN 17, 2021, View Source [SID1234584143]). This partnership will allow for the development of a medical device using optical measurement technologies to support cancer treatment by photoimmunotherapy.

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Therapies developed on the Illuminox platform involve administering a targeting moiety conjugated with one or more dyes, which is illuminated by light at a specific wavelength. Light illumination of the targeted cells transiently excites the drug, and pre-clinical data have shown this excitation elicits rapid and selective necrosis of targeted cells through a biophysical process.

Based on this agreement, both companies will use their expertise to work toward the joint development of technology that will allow visualization, measurement, and recording of the reaction of the dye to light illumination in real-time. This will allow for optimization of light irradiation depending on the tumor. Both companies will cooperate to aim for commercialization of the medical device using the technology on a worldwide basis.

Rakuten Medical is developing therapies on its Illuminox platform, an investigational treatment platform based on a cancer therapy called photoimmunotherapy developed by Dr. Kobayashi and team from the National Cancer Institute in the United States. In September 2020, Rakuten Medical announced that its wholly owned subsidiary Rakuten Medical Japan K.K. received conditional marketing approval in Japan from the Ministry of Health, Labour and Welfare for ASP-1929 Photoimmunotherapy and a laser light device to treat unresectable locally advanced or recurrent head and neck cancer, and began commercialization in January 2021. Shimadzu is focusing on creating innovative products and services, which combine analytical measurements with diagnostic imaging in the healthcare field. Utilizing its measurement technologies, Shimadzu has worked with cancer institutes in both USA and Japan for the development of photoimmunotherapy at the pre-clinical stage.

On June 17, 2021 The board of directors of AbbVie Inc. (NYSE: ABBV) reported a quarterly cash dividend of $1.30 per share (Press release, AbbVie, JUN 17, 2021, View Source [SID1234584137]).

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The cash dividend is payable August 16, 2021 to stockholders of record at the close of business on July 15, 2021.

Since the company’s inception in 2013, AbbVie has increased its dividend by 225 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

On June 17, 2021 Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, reported that TPX-0022, the company’s inhibitor of MET and the associated cancer signaling pathways of SRC and CSF1R, has been granted orphan drug designation by the Food and Drug Administration (FDA) for the treatment of patients with gastric cancer, including gastroesophageal junction adenocarcinoma (Press release, Turning Point Therapeutics, JUN 17, 2021, View Source [SID1234584135]).

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"Aberrant signaling and genomic alterations in MET-driven gastric cancers are associated with a poor prognosis for patients, creating a high unmet need for therapies to target the molecular drivers of the disease," said Mohammad Hirmand, M.D., chief medical officer. "We are pleased to receive this designation for TPX-0022 as we work to develop it as a potentially differentiated option for patients affected by MET-driven gastric cancer."

There are currently no approved MET inhibitors for the treatment of gastric cancer and gastroesophageal junction adenocarcinoma.

TPX-0022 is a potent inhibitor of the MET tyrosine kinase and has the potential to modulate the tumor microenvironment to augment its therapeutic effect. Initial clinical data presented from the ongoing Phase 1 SHIELD-1 study in October 2020 showed TPX-0022 has been generally well-tolerated and demonstrated clinical activity in patients with MET-amplified gastric cancer.

Orphan Drug Designation is granted by the FDA to assist in the development of drug candidates that may offer therapeutic benefits for diseases with a prevalence of fewer than 200,000 patients annually. Benefits of the designation may include the opportunity for accelerated approval, discounts on registration fees, tax credits for qualified clinical trials and eligibility for 7 years of market exclusivity post-regulatory approval.