Senhwa Announces First Patient Successfully Dosed in Phase 1b Expansion Study of Pidnarulex to Treat Solid Tumors with Specific Homologous Recombination Gene Mutations

On September 10, 2021 Senhwa Biosciences, Inc. (TPEx: 6492), a drug development company focusing on first-in-class therapeutics for oncology, rare diseases, and novel coronaviruses, reported that their first patient has been successfully dosed, in a Phase 1b clinical study of Pidnarulex as a potential treatment for solid tumors with Homologous Recombination (HR) gene mutations, at the Princess Margaret Cancer Centre in Toronto, Canada (Press release, Senhwa Biosciences, SEP 10, 2021, View Source [SID1234587877]).

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This new Phase 1b open-label, multi-center Expansion study (in both US and Canada) was designed to determine a tolerable dose of Pidnarulex in patients with selected solid tumors with BRCA1/2, PALB2, and other HR gene mutations. This dose will be used in future Phase II trials.

"We are very excited to begin enrollment in our Phase 1b clinical trial for evaluating Pidnarulex in patients with BRCA1/2, PALB2 and other homologous recombination gene mutations. This is an important milestone and marks a new paradigm in the treatment of cancers with specific pathogenic mutations," stated Dr. John Soong, Chief Medical Officer of Senhwa Biosciences.

In a previous Phase 1 trial, Pidnarulex demonstrated clinically significant and lasting benefits in patients with specific tumor biomarkers, such as BRCA1/2, and PALB2 mutations and that were also resistant to platinum and other chemotherapeutics. This past May, the American College of Medical Genetics and Genomics (ACMG) issued new guidance for patients and doctors, advising that individuals with PALB2 mutations be surveilled similarly to individuals with BRCA mutations. The experts have identified the PALB2 mutation as the third most important breast cancer gene after BRCA1 and BRCA2 mutations, as it also increases a patient’s risk of developing ovarian and pancreatic cancer.

"The new guidelines for the PALB2 mutation not only raises the public’s awareness and provides guidance regarding how to manage that risk, but also validates that our hard work is going in the right direction," said Tai-Sen Soong, Chief Executive Officer of Senhwa Biosciences.

While BRCA1/2 deficient tumor cells are more sensitive to PARP inhibitor (PARPi) treatments, PARPi resistance is not uncommon in clinical use. According to an article published on Molecular Cancer in 2020, more than 40% of BRCA1/2 deficient patients fail to respond to PARPi alone. By targeting the G-quadruplex DNA structure instead, Senhwa’s Pidnarulex also has great potential as an alternative treatment for patients who have developed resistance to PAPRi or other chemotherapies.

Drug discovery platform Exscientia files for a $100 million US IPO

On September 10, 2021 Exscientia, which provides an AI-driven platform for drug design, discovery, and development,reported that it filed on Friday with the SEC to raise up to $100 million (Press release, Exscientia, SEP 10, 2021, View Source [SID1234587596]).

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Exscientia states that it is an artificial intelligence-driven pharmatech company that aims to discover, design, and develop the best possible drugs in the fastest and most effective manner. The company has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection. The company states that it has originated the first three AI-designed precision drug candidates to enter human clinical trials. Its most advanced internally developed candidate, EXS21546, began a Phase 1 trial in December 2020. The other two candidates, which are being developed by its collaboration partner Sumitomo Dainippon Pharma, are also currently in Phase 1 trials. Exscientia has designed four additional candidates currently undergoing advanced profiling for submission of INDs; the company has more than 25 active projects in total.

The Oxford, United Kingdom-based company was founded in 2012 and booked $14 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol EXAI. Exscientia filed confidentially on June 21, 2021. Goldman Sachs, Morgan Stanley, BofA Securities, and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.

QUARTERLY REPORT 2nd QUARTER 2021

On September 10, 2021 Oncoinvent reported that Quarterly report Q2 2021 (Press release, Oncoinvent, SEP 10, 2021, https://www.oncoinvent.com/wp-content/uploads/Oncoinvent-Quarterly-report-Q2-2021.pdf [SID1234587581])

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Highlights

• Secured NOK 250 mill. in an oversubscribed private placement
• The Safety and Monitoring Committee approved 7 MBq as recommended clinical dose for Radspherin in the ongoing RAD-18-002 phase 1 trial in patients suffering from colorectal cancer.
• The repeated dose cohort in the RAD-18-002 phase 1 trial has been completed. Operational review During the second quarter of 2021 Oncoinvent secured NOK 250 million in an oversubscribed private placement that was syndicated by existing investors Hadean Ventures, Geveran, RADFORSK Investeringsstiftelse, Sundt, Must Invest, Canica, MP Pensjon and Watrium.

The net proceeds from the Private Placement ensures financing past the end of 2023 for the lead product candidate Radspherin, including financing of two clinical phase 2A studies (in ovarian cancer and colorectal cancer). The funding will also allow the company to initiate preclinical development of proprietary antibodies OI-1 and OI-3 to further develop the pipeline of targeted radiotherapeutics one year earlier than originally planned. As previously announced in April 2021, Oncoinvent completed the recruitment of patients in the final dose level of the ongoing RAD-18-002 Phase 1 trial, in colorectal cancer patients suffering from peritoneal carcinomatosis.

The Safety and Monitoring Committee (SMC) concluded that the 7 MBq dose of Radspherin to be safe and it was recommended as the clinically relevant dose. During the second quarter the company has recruited patients to both the repeated dose cohort and expansion cohort. The repeated dose cohort has been completed and four of the six patients in the expansion cohort have been enrolled.

The company plans to complete enrollment of the entire RAD-18-002 colorectal cancer phase 1 study before the end of the third quarter.

During the second quarter of 2021 the company also enrolled patients for third dose level (4MBq) for the RAD-18-001 Phase 1 trial in platinum sensitive recurrent ovarian cancer patients suffering from peritoneal carcinomatosis. During this quarter the recruitment for the study has been slower than anticipated, and the company is currently taking steps to improve the enrollment going forward.

Financial review Oncoinvent had an EBITDA of minus NOK 17.4 mill. in the 2nd quarter of 2021, compared to minus NOK 12.8 in 2nd quarter of 2020. The operating expenses increased during the quarter and were NOK 18.3 mill. compared to NOK 15.7 mill. in 2020.

Furthermore, the company reported EBITDA of minus NOK 35.0 mill. for YTD compared to minus NOK 25.8 mill. in 2020 after reporting NOK 36.2 mill. in operating expenses compared to NOK 28.8 mill. in 2020. The increase reflects the progress in the ongoing clinical trials and are according to plan.

The company had NOK 79.5 million in cash and cash equivalents at the end of the quarter. With the closing of the private placement at the end of the quarter the company also have gross proceeds of NOK 250 mill. that falls due in July. After the private placement the number of common shares in the company are 19 147 215.

Medivir to present at the Wainwright Annual Global Investment Conference

On September 10, 2021 Medivir AB (NASDAQ Stockholm: MVIR) reported that the company will present at the virtual meeting H.C. Wainwright Annual Global Investment Conference, September 13-15 (Press release, Medivir, SEP 10, 2021, https://www.prnewswire.com/news-releases/medivir-to-present-at-the-wainwright-annual-global-investment-conference-301373196.html [SID1234587565]).

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The presentation will be available through Medivir´s website; www.medivir.com.

More information about the event is available at the organizer’s website: View Source

AbbVie Declares Quarterly Dividend

On September 10, 2021 The board of directors of AbbVie Inc. (NYSE: ABBV) reported a quarterly cash dividend of $1.30 per share (Press release, AbbVie, SEP 10, 2021, View Source [SID1234587564]).

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The cash dividend is payable November 15, 2021 to stockholders of record at the close of business on October 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.