On November 11, 2021 Acrivon Therapeutics, Inc., a clinical-stage oncology therapeutics company with proprietary technologies driving a new era of precision-based medicine, reported the successful completion of an oversubscribed $100 million Series B financing (Press release, Acrivon Therapeutics, NOV 11, 2021, View Source [SID1234595330]). The financing was co-led by Wellington Management Company and Surveyor Capital (a Citadel company), with key participation from RA Capital Management and Perceptive Advisors. Additional new investors in the financing included Sands Capital, HBM Healthcare Investments, Marshall Wace, HealthCor Management, BB Pureos Bioventures, Acorn Bioventures, and existing investors, including Alexandria Venture Investments and Chione Ltd. In connection with the financing, Derek DiRocco, Ph.D., partner at RA Capital Management, will join the company’s Board of Directors.

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Acrivon’s Predictive Precision Proteomics (AP3) technology platform enables the development of drug-tailored OncoSignature companion diagnostics that link drug mechanisms to the active disease-driving processes of cancer in patients, uncovering drug sensitivity not achievable through traditional genomics analyses. Acrivon’s pipeline will be advanced in clinical trials selectively enrolling patients predicted to benefit from treatment based on its proprietary OncoSignature companion diagnostics. The company’s clinically advanced lead product candidate ACR-368 (also known as prexasertib, in-licensed from Eli Lilly and Company) is a potent, second generation CHK1/2 inhibitor which has shown durable, single-agent anticancer activity, including complete responses, in a proportion of patients across multiple cancers in Phase 2 studies.

"On the heels of the company’s recent public launch in late June, we are pleased to have attracted a top-tier syndicate of leading private/public investors that recognize the transformative potential of our platform and pipeline," said Peter Blume-Jensen, M.D., Ph.D., chief executive officer and founder of Acrivon. "Appropriate patient selection is one of the biggest unmet needs for targeted oncology therapeutics and is currently not possible for the majority of common solid cancers. We are excited to now leverage the broader potential of our AP3 platform, which enables us to decipher a drug’s true mechanism-of-action at high resolution and accurately match that with the disease-driving processes in a patient’s tumor. This allows us to not only predict individual patient response, but also identify new indications and rational drug combinations, as well as hurdles that block patient responses, such as resistance mechanisms. The initial application of our technology is for the development of ACR-368 and two other undisclosed pipeline programs targeting solid tumors."

Derek DiRocco, Ph.D., partner at RA Capital and member of the board added, "Acrivon’s lead asset ACR-368 has demonstrated impressive monotherapy activity in several cancers, and the late-stage Phase 2 development strategy using their proprietary patient selection methodology can lead to multiple accelerated approval opportunities in these high unmet need cancers. We are impressed by the company’s foundational technologies and believe they are broadly applicable to therapeutics beyond ACR-368 and have the potential to usher in a new era of precision-based medicine beyond the industry’s current approaches, which are largely limited to the use of genomic biomarkers."

"We are thrilled by the support from these notable investors," said Kristina Masson, Ph.D., co-founder and site head of Acrivon AB, Acrivon’s phospho-proteomic and drug discovery hub located in Medicon Village, Lund, Sweden. "We have strategically built our phospho-proteomics capabilities here to leverage the proximity to our academic co-founder, professor Jesper Olsen at the University of Copenhagen, Denmark, who is a recognized leader in the field of phospho-proteomics. Likewise, our structure-guided drug discovery programs benefit from local expertise in structural biology and medicinal chemistry. The excellent infrastructure and world-leading proteomics expertise established at our hub in Scandinavia remains a major competitive advantage for Acrivon, and we are excited to also welcome several European investors to join our investor syndicate."

About Acrivon Precision Predictive Proteomics
Acrivon Predictive Precision Proteomics, AP3, is a proprietary, streamlined approach to develop patient selection tumor biopsy tests, called OncoSignature tests. The technology is engineered to be agnostic to underlying genetic alterations and enables identification and treatment of the patients whose tumors are regulated by and sensitive to the drug based on direct protein measurement of the critical tumor-driving mechanisms. The AP3 approach leverages unbiased differential global phosphoproteomic drug profiling using mass spectrometry, biased tumor model analyses, and quantitative multispectral in situ imaging of patient derived xenograft (PDX) in vivo models and intended-use tumor samples and clinical trial biopsies, to identify and evaluate biomarkers. The output of AP3 is clinically actionable, drug-tailored, proprietary OncoSignature tests. These are automated, quantitative protein multiplex imaging tests applied to pretreatment tumor biopsies as a companion diagnostic (CDx) to select and treat the patients predicted to benefit from the drug. The AP3 method is broadly applicable across drugs and is a transformative, efficient method to accurately match the right therapy to the right patient.

About ACR-368 (also known as prexasertib)
ACR-368 is a potent, selective inhibitor of CHK1 and CHK2 which has shown deep durable single agent activity, including complete responses, in a proportion of patients across several Phase 2 studies of platinum-resistant ovarian cancer and in squamous cell cancers, including anal cancer for which FDA has granted orphan drug designation. ACR-368 has been tested in >1,000 patients as monotherapy and in combination, showing excellent pharmacokinetic and pharmacological properties and a favorable safety profile at the recommended Phase 2 dose across monotherapy studies. Acrivon has obtained exclusive, world-wide rights to develop and commercialize ACR-368 under a license agreement with Eli Lilly and Company.

On November 11, 2021 Compugen Ltd. (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, reported that Bristol Myers Squibb (NYSE: BMY) completed its $20 million investment in Compugen in consideration for the issuance of 2,332,815 shares of Compugen purchased at $8.57333 per share, representing a 33% premium over the closing price on November 9, 2021 (Press release, Compugen, NOV 11, 2021, View Source [SID1234595311]).

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As part of the expansion of the collaboration, a joint steering committee has been formed to facilitate strategic oversight and guidance for the programs run under the collaboration. This will run alongside the existing joint development committee which acts at an operational level.

"Bristol Myers Squibb’s strategic investment in Compugen strengthens our relationship and the goal of both companies to take forward our clinical studies conducted under our collaboration in bringing innovative therapies to cancer patients," said Anat Cohen-Dayag, Ph.D., President and CEO of Compugen. "We value Bristol Myers Squibb’s continued support of Compugen and in our evaluation of our DNAM axis hypothesis by testing COM701 in combination with nivolumab as a dual combination and in combination with nivolumab and BMS-986207 as a triple combination targeting PVRIG, PD-1 and TIGIT."

About COM701

COM701 is a humanized antibody that binds with high affinity to PVRIG, a novel immune checkpoint discovered computationally by Compugen, blocking the interaction with its ligand, PVRL2. In pre-clinical studies, blockade of PVRIG by COM701 has demonstrated potent, reproducible enhancement of T cell activation, consistent with the desired mechanism of action of activating T cells in the tumor microenvironment to generate anti-tumor immune responses. Compugen has identified PVRIG and TIGIT as key parallel and complementary inhibitory pathways in the DNAM axis, which also intersect with the well-established PD-1 pathway. Research from Compugen suggests that these three pathways have different dominance in different tumor types and patients, implying that to induce effective antitumor responses, certain patient populations may require the blockade of different combinations of these three pathways. To test this hypothesis, Compugen has established a science-driven, biomarker informed clinical program, which evaluates different combinations of these axis members across tumor types. Compugen is the only company with clinical assets targeting both PVRIG and TIGIT in its portfolio allowing it to explore the potential of blocking these parallel and complementary members of the DNAM axis comprehensively to drive robust immune responses.

On November 11, 2021 Lunit reported that it will present three abstracts at the upcoming Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper)’s (SITC) (Free SITC Whitepaper) 36th Annual Meeting being held in Washington D.C. and virtually November 10-14, 2021 (Press release, Lunit, NOV 11, 2021, View Source [SID1234595310]). The abstracts feature the predictive power of the company’s AI biomarker platform ‘Lunit SCOPE IO’, which is also on demonstration during the event in its booth #423, Exhibition Hall E.

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As a leading medical AI provider, Lunit focuses on developing the AI biomarker platform Lunit SCOPE IO, which analyzes cancer patients’ tissue slide images and predicts response to immunotherapy. According to the company, Lunit SCOPE IO analyzes a patient’s cancer tissue slide image by observing the distribution of tumor-infiltrating lymphocytes (TIL), one of the representative immune cells, and accurately classifying the result into three immune phenotypes (3-IP; inflamed, excluded, desert).

Lunit’s AI biomarker platform, Lunit SCOPE IO

In the main study presented at SITC (Free SITC Whitepaper) 2021, Lunit SCOPE IO was applied in a phase I/II clinical trial of a TGF-β inhibitor, MedPacto’s vactosertib, in combination with pembrolizumab to treat metastatic colorectal cancer patients. This clinical trial is significant because the novel treatment regimen targets a subpopulation of colorectal cancer patients known to have a very low overall response rate. The regular lack of response to immune checkpoint inhibitors such as pembrolizumab is expected to be overcome via combination with the TGF-β inhibitor vactosertib, changing the biology of the cancer to be responsive to the combination.

According to the study, among the group of patients categorized as high "immune-excluded" by Lunit SCOPE IO, 25% responded to treatment, compared to no response among the group of patients categorized as low "immune-excluded" by Lunit SCOPE IO.

"These results demonstrate that the AI-powered analysis of the immune cells surrounding the cancer is highly predictive of response to immunotherapy, and adds significant evidence to the usefulness of applying this technology in clinical practice to identify the right target patient population," explained Chan-Young Ock, Chief Medical Officer of Lunit.

"This study is also significant because the usefulness of Lunit SCOPE has been successfully demonstrated for combination immunotherapy, in addition to its usefulness for predicting response to monotherapy of immune checkpoint inhibitors, as previously demonstrated in ASCO (Free ASCO Whitepaper) 2019, 2020, 2021 and ESMO (Free ESMO Whitepaper) 2021," added Ock.

In the other two studies, the molecular mechanisms that are associated with Lunit SCOPE IO’s prediction of response to immunotherapy have been demonstrated. According to the studies, the "immune excluded" subpopulation categorized by Lunit SCOPE IO is linked to the APOBEC signature and subclonal tumor heterogeneity, as well as oncogenic PI3K/Akt/mTOR pathway, adding biological plausibility to why Lunit SCOPE IO is highly predictive of response to immunotherapy.

"Over the years we have been validating the predictive power of our AI biomarker through multiple studies and we are excited to present meaningful results at SITC (Free SITC Whitepaper) showing its further potential," said Brandon Suh, CEO of Lunit. "With the official launch of Lunit SCOPE IO for research use approaching within a few months, we hope our AI will contribute to offering optimized treatment to solid tumor cancer patients."

Lunit at SITC (Free SITC Whitepaper) 2021

Exhibition booth: #423, Exhibition Hall E (floor plan)

Poster Title: Spatial analysis of tumor-infiltrating lymphocytes correlates with the response of metastatic colorectal cancer patients treated with vactosertibin combination with pembrolizumab
Abstract number: 823
Session Date/Time: Nov. 12, 7:00 a.m. – 8:30 p.m. ET (on-site) and Nov. 12, 7:00 a.m. ET (ePoster)

Poster Title: Artificial intelligence powered spatial analysis of tumor infiltrating lymphocytes reveals Immune excluded phenotype related to APOBEC signature and clonal evolution of cancer
Abstract number: 830
Session Date/Time: Nov. 13, 7:00 a.m. – 8:30 p.m. ET (on-site) and Nov. 12, 7:00 a.m. ET (ePoster)

Poster Title: Comparison of PI3K/AKT/mTOR Pathway Profiles Amongst Three Immune Phenotypes Classified by Artificial Intelligence-Powered H&E Analyzer in Non-Small Cell Lung Cancer
Abstract number: 921
Session Date/Time: Nov. 12, 7:00 a.m. – 8:30 p.m. ET (on-site) and Nov. 12, 7:00 a.m. ET (ePoster)

On November 11, 2021 AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") reported its third quarter ending September 30, 2021, financial highlights and provided a corporate update (Press release, AIkido Pharma, NOV 11, 2021, View Source [SID1234595309]).

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Highlights

Cash and investments exceeding $104 million reflecting very low cash burn over Q2
Monetization and liquidity event in DatChat representing over 600% ROI
Investment in Tevva Motors electric truck producer, a space with recent Rivian Automotive IPO, ticker symbol RIVN.
Investment in Kerna Health, fast growth tele-health business with recurring revenue and large contract backlog with possible liquidity event in 2022
New investment in Slinger Bag, displaying strong progress and potential near-term monetization
New investment in Kaya Holdings, first U.S. publicly traded company to hold and operate state-issued "touch-the-plant" licenses for the retail, cultivation, and production of cannabis
Anthony Hayes, CEO of AIkido, noted, "We are excited about our current pipeline portfolio, upcoming milestones and pending catalysts. This past quarter showcased our monetization strategy exemplified by a 600% ROI liquidity event in DatChat which went public over the summer. Additionally, we actively invested in several exciting high growth industries such as Electric Vehicles and Tele-health and we continue to actively pursue additional high growth interests with near term monetization events to help enhance shareholder value. We are pleased to also announce today our recent investments in the Cannabis and innovative sports industries that have strong growth potential. We are also working diligently to grow our drug platform through additional licensing efforts and are currently working on partnerships with academic institutions and private enterprise to find, fund and advance new drug compounds that can be brought to commercialization. We continue to maintain an extremely low cash burn and note that our valuation does not currently reflect the value of our assets. With our strong balance sheet, we have pulled our registration statement and we look forward to continued shareholder value creation."

Third Quarter Highlights

DatChat
On August 17, 2021, DatChat closed its initial public offering at an initial offering price to the public of $4.15 per share under the ticker DATS. On September 22, 2021, the Company sold 167,084 shares of DatChat common stock for net proceeds of approximately $0.9 million. As of September 30, 2021, the Company continued to hold 357,916 shares of DatChat valued at approximately $4.9 million.

Tevva Motors
On September 22, 2021, the Company agreed to purchase 29,004 Interests of Tevva Motors for approximately $1.0 million. Subsequently, on September 30, 2021, the Company entered into a second securities purchase agreement to purchase an additional 29,004 Interests of Tevva Motors for approximately $1.0 million. Tevva Motors Ltd is a UK-based, leading developer of modular electrification systems for medium duty commercial vehicles. This is an exciting space, with companies such as Rivian Automotive recently going public with very high valuations.

Kerna Health,
On September 15, 2021, the Company entered into a securities purchase agreement with Kerna Health Inc. Under Agreement, the Company agreed to purchase 1,333,334 shares of common stock of Kerna for $1.0 million. Kerna health is a fast-growing tele-health business with recurring revenue and large contract backlog and has the potential to lead to a liquidity event in 2022.

Slinger Bag
On August 6, 2021, the Company entered into a securities purchase agreement with Slinger Bag Inc. Under the Agreement, the Company agreed to pay $1.4 million to Slinger Bag for the issuance of a convertible promissory note in the principal amount of $1.4 million and a common stock purchase warrant. Slinger Bag which is currently listed on the OTC market under symbol SLBG, is a fast-growing leading connected sports company focused on delivering innovative, game improvement technologies and equipment across tennis and other ball sports.

Kaya Holding Corp
On September 29, 2021, the Company entered into a securities purchase agreement with Kaya Holding Corp. Under the Agreement, the Company agreed to purchase 8,325,000 shares of common stock of Kaya for approximately $0.7 million. Kaya Holding Corp is currently listed on the OTC market under the symbol KAYS and is the first U.S. publicly traded company to hold and operate state-issued "touch-the-plant" licenses for the retail, cultivation and production of cannabis.

Drug Development Pipeline Update
The Company’s pipeline consists of patented technology from leading universities and researchers and is currently in the process of developing its innovative therapeutic drug pipeline through strong partnerships with world renowned educational institutions, including the University of Texas at Austin, the University of Maryland, Baltimore and Wake Forest University.

The Company is also developing a broad-spectrum antiviral platform, in which the lead compounds have activity in cell-based assays against multiple viruses including Influenza virus, Ebolavirus and Marburg virus, SARS-CoV, MERS-CoV, and SARS-CoV-2, the cause of COVID-19.
Convergent Therapeutics
In January 2021, the Company invested in Convergent Therapeutics, which has exclusive rights to technology related to next-generation dual-action peptide receptor radionuclide therapy ("PRRT") for prostate cancer covered by multiple issued U.S. and foreign patents. Convergent is currently conducting advanced human trials relating to prostate cancer treatments utilizing PRRT that targets the prostate-specific membrane antigen ("PSMA") present on prostate cancer cells. The technology was developed under the direction of Dr. Neil Bander, Professor of Urologic Oncology at Weill Cornell Medicine.

Silo Pharma
In January 2021, the Company entered into an exclusive patent license agreement with Silo Pharma where Silo Pharma granted the Company a worldwide exclusive, sublicensable, royalty-bearing license to certain Silo Pharma owned provisional patent applications directed to the use of psilocybin in cancer treatment. The license is for "Field of Use" of "treatment of cancer and symptoms caused by cancer, including but not limited to pain, nausea, neuroinflammation, brain and neural dysfunction, depression, seizures, confusion, dizziness, numbness/tingling, dysfunction of the senses and all other symptoms that are caused by cancer of any type."

On November 11, 2021 Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, reported that the Company will present at the 2021 Jefferies London Healthcare Conference (Press release, Fusion Pharmaceuticals, NOV 11, 2021, View Source [SID1234595308]). A recording of the presentation will be made available for on-demand viewing on Thursday, November 18, 2021 at 8:00am GMT. Presenting on behalf of Fusion will be Chief Executive Officer John Valliant, Ph.D.

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A webcast of the event will be available on the "Events and Presentations" page in the "Investors & Media" section of the Company’s website at View Source A replay of the webcast will be archived on the Company’s website for 90 days following the presentation.