Rubius Therapeutics Reports Initial Clinical Data from Ongoing Phase 1/2 Trial of
RTX-240 in Patients with Advanced Solid Tumors, Demonstrating Single-Agent Activity

On March 15, 2021 Rubius Therapeutics, Inc. (Nasdaq:RUBY), a clinical-stage biopharmaceutical company that is genetically engineering red blood cells to create an entirely new class of cellular medicines called Red Cell Therapeutics, reported initial clinical, pharmacodynamic and tumor trafficking data from its ongoing Phase 1/2 clinical trial of RTX-240 in patients with advanced solid tumors (Press release, Rubius Therapeutics, MAR 15, 2021, View Source [SID1234576635]). The Company also shared tumor trafficking data from one patient with relapsed/refractory acute myeloid leukemia (AML) in the second Phase 1 arm of the study. The Company believes these data provide initial proof-of-concept of the RED PLATFORM by providing evidence that red blood cells can be engineered to mimic the human immune system and stimulate adaptive and innate immunity to generate clinical responses in cancer patients with refractory disease.

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"These initial data are incredibly exciting and demonstrate that RTX-240 has the potential to generate single-agent activity in patients with solid tumors, including a cold tumor such as metastatic uveal melanoma, where other treatments have failed to induce responses in patients," said Christina Coughlin, M.D., Ph.D., chief medical officer at Rubius Therapeutics. "The encouraging safety results, including a single event of Grade 1 liver toxicity, and preliminary efficacy data for RTX-240 to date give us the potential to realize the power of immune agonists for the treatment of cancer."

Initial Efficacy Data

Five (5) dose cohorts were completed in the solid tumor trial at the time of the data cutoff on February 28, 2021 (n=16), with 16 patients evaluable for safety (primary outcome measure) and 15 patients evaluable for efficacy (secondary outcome measure) based on RECIST v1.1.

The study is continuing to enroll patients and despite the fact that dose optimization is still ongoing, RTX-240 generated:

A confirmed partial response (PR) with a 54% reduction in the target lesions at the 1e8 dose administered every 4 weeks in a patient with metastatic anal cancer whose disease had progressed on anti-PD-L1 therapy. Treatment of this patient was ongoing 8 months following the first dose at data cutoff;
An unconfirmed PR with complete resolution of the target hepatic lesion and resolution of 14/15 hepatic lesions at the 1e10 dose administered every 4 weeks in a patient with metastatic uveal melanoma whose disease had progressed on anti-PD-1 therapy. Treatment of this patient was ongoing 4 months following the first dose at data cutoff; and
Stable disease (SD) was observed in 6 patients, including 4 individual patients with stable disease for at least 12 weeks:
Non-small cell lung cancer (disease stabilization for 12 weeks with treatment ongoing as of the data cutoff);
Soft tissue sarcoma (disease stabilization for 4 months);
Pancreatic cancer (disease stabilization for 3 months); and
Prostate cancer (disease stabilization for 4 months).
"We believe these data provide clinical validation of our RED PLATFORM and de-risk our oncology pipeline of Red Cell Therapeutics," said Pablo J. Cagnoni, M.D., president and chief executive officer. "Given the encouraging initial safety and preliminary efficacy data for RTX-240, we plan to initiate a Phase 2 expansion cohort in the first quarter of 2022, and a new Phase 1 arm of the ongoing RTX-240 clinical trial to evaluate RTX-240 in combination with anti-PD-1 therapy in patients with advanced solid tumors during the second half of 2021."

Initial Safety Data

The most common treatment-related Grade 1/2 adverse events were fatigue (n=4), chills, nausea, decreased appetite and arthralgias all reported in 3 patients each. There were no treatment-related Grade 3/4 adverse events, no dose-limiting toxicities and a single Grade 1 event of liver toxicity.

Ten (10) immune-related adverse events (irAE) were observed among 5 patients with no reported treatment-related Grade 3/4 irAEs. Grade 2 treatment-related irAEs included pneumonitis (n=1), adrenal insufficiency (n=1) and hypothyroidism (n=1).

Pharmacodynamic Data

In addition to evaluating safety and preliminary efficacy data, the trial is evaluating the pharmacodynamic effects of RTX-240:

RTX-240 stimulated innate and adaptive immunity as demonstrated by the activation and/or expansion of NK or memory CD8+ T cells in all patients, with 9/16 patients showing activation and expansion in both cell types. There was an overall trend towards a dose response in absolute NK cell numbers (expansion);
Detailed NK cell analysis showed an increased percentage of CD16+CD56dim (mature NK cells) and CD56bright (immature NK cells) across dose levels
These cell subtypes are associated with cytotoxicity and cytokine production respectively; and
RTX-240 induced expression of key NK cell activation receptors, including NKp30 and the ratio of cells expressing the activation receptor NKG2D versus the inhibitory receptor NKG2A
This specific signature of NK cell receptor expression may allow selection of specific tumor types with predicted sensitivity to RTX-240.
Tumor Infiltration Data

Immune cell trafficking into the tumor microenvironment (TME) was assessed by tumor biopsies from participating patients with solid tumors (optional; n=4) and AML (standard of care; n=1).

Trafficking of T and NK cells into the TME was observed in 3/5 patients (1.6 to 10-fold increases), including one patient each with metastatic mesothelioma, metastatic soft tissue sarcoma and refractory AML. Tumor infiltration was not observed in patients with ovarian cancer (n=1) and heavily pretreated melanoma (n=1);
There was increased expression of PD-L1 observed in 3/4 patients with solid tumors, suggesting an improved immune-permissive TME; and
In one patient with AML, trafficking of T and NK cells into the bone marrow was associated with increases in the cellularity of the marrow.
Upcoming Anticipated Milestones

In order to realize the full potential of RTX-240, the Company’s other oncology programs and the RED PLATFORM, in the next 12 months, Rubius plans to execute several critical milestones:

Present additional clinical results from the RTX-240 solid tumor Phase 1 clinical trial;
Select the recommended RTX-240 Phase 2 dose, schedule and specific solid tumor types that will be pursued in the Phase 2 expansion cohort;
Report initial clinical results for the second Phase 1 arm of the RTX-240 clinical trial in relapsed/refractory AML;
Initiate the Phase 1 clinical trial of RTX-240 in combination with anti-PD-1 therapy in advanced solid tumors in 2H’21;
Report initial Phase 1 clinical results for RTX-321 for the treatment of HPV 16-positive cancers by 1Q’22; and
Submit an Investigational New Drug Application for RTX-224 by year-end.
Conference Call

The Company will host a conference call and webcast at 8:00 a.m. EDT to discuss this update. The audio webcast will be available on the Events and Presentations page within the Investors and Media section of the Rubius Therapeutics website. The update may also be accessed by dialing 1-800-289-0045 (domestic) or 1-615-622-8086 (international) five minutes prior to the start of the call and providing the passcode 1294064. An archived webcast will be accessible for 90 days after the event.

About RTX-240

RTX-240 is an allogeneic, off-the-shelf cellular therapy product candidate that is designed to simultaneously present hundreds of thousands of copies of the costimulatory molecule 4-1BB ligand (4-1BBL) and IL-15TP (trans-presentation of IL-15 on IL-15Rα) in their native forms. RTX-240 is expected to broadly stimulate the immune system by activating and expanding both NK and memory T cells to generate a potent anti-tumor response.

About the RTX-240 Clinical Trial

This is a Phase 1/2 open label, multicenter, multidose, first-in-human dose-escalation and expansion study designed to determine the safety and tolerability, pharmacokinetics, maximum tolerated dose and a recommended Phase 2 dose and dosing regimen of RTX-240 in adult patients with relapsed/refractory or locally advanced solid tumors or with relapsed/refractory acute myeloid leukemia. The trial will also assess the pharmacodynamics of RTX-240 measured by changes in T and NK cell number and function relative to baseline and anti-tumor activity. The study will include a monotherapy dose escalation phase followed by an expansion phase in specified tumor types during the Phase 2 portion of the trial. The extent to which the COVID-19 pandemic may impact Rubius’ ability to enroll patients in the trial will depend on future developments.

About RTX-321

RTX-321 is an allogeneic, off-the-shelf artifical antigen-presenting cell therapy product candidate that is designed to express hundreds of thousands of copies of an HPV peptide antigen bound to major histocompatibility complex class I proteins, the costimulatory molecule 4-1BBL and the cytokine IL-12 on the cell surface to mimic human T cell-APC interactions. In preclinical studies, RTX-321 was shown to have a dual mechanism of action by functioning as an antigen-presenting cell to boost HPV 16 antigen-specific T cell responses and promoting broad immune system stimulation of both innate and adaptive immunity.

About RTX-224

RTX-224 is an allogeneic cellular therapy product candidate that is engineered to express hundreds of thousands of copies of 4-1BBL and IL-12 on the cell surface. In contrast to RTX-240, RTX-224 is designed as a broader T cell- agonist, while also retaining the ability to activate and expand NK cells. It is expected to produce a broad and potent anti-tumor T cell response, an innate immune response and show activity in those tumor types with known sensitivity to T cell killing, including tumor types with high mutational burden, PD-L1 expression and prior activity of checkpoint inhibitors.

VBI Vaccines to Present at Oppenheimer 31st Annual Healthcare Conference

On March 15, 2021 VBI Vaccines Inc. (Nasdaq: VBIV) (VBI), a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease, reported that Jeff Baxter, President and Chief Executive Officer, and David E. Anderson, Ph.D., Chief Scientific Officer, will participate in an analyst-led fireside chat at the Oppenheimer 31st Annual Healthcare Conference on Wednesday, March 17 at 10:40 AM ET (Press release, VBI Vaccines, MAR 15, 2021, View Source [SID1234576634]).

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Presentation Details:

- Event: Oppenheimer 31st Annual Healthcare Conference
- Presenters: Jeff Baxter, President and CEO, and David E. Anderson, Ph.D., Chief Scientific Officer
- Date: Wednesday, March 17, 2021
- Time: 10:40 – 11:10 AM ET
- Webcast: View Source

A recording of the webcast will be available on the "Events and Presentations" page of the Company’s website: View Source

Transactions in connection with share buy-back program

On March 15, 2021 Genmab A/S (Nasdaq: GMAB). On February 23, 2021 Genmab announced the initiation of a share buy-back program to mitigate dilution from warrant exercises and to honor our commitments under our Restricted Stock Units program (Press release, Genmab, MAR 15, 2021, View Source [SID1234576633]).

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The share buy-back program is expected to be completed no later than June 30, 2021 and comprises up to 200,000 shares.

The following transactions were executed under the program from March 8, 2021 to March 12, 2021:

Details of each transaction are included as an appendix to this announcement.

Following these transactions, Genmab holds 145,477 shares as treasury shares, corresponding to 0.22% of the total share capital and voting rights.

The share buy-back program is undertaken in accordance with Regulation (EU) No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the "Safe Harbour Regulation." Further details on the terms of the share buy-back program can be found in our company announcement no. 11 dated February 23, 2021.

ElevateBio Scales Disruptive Cell and Gene Therapy Business Model with $525 Million Series C Financing

On March 15, 2021 ElevateBio, a cell and gene therapy technology company focused on powering transformative cell and gene therapies, reported it has raised $525 million in a Series C financing (Press release, ElevateBio, MAR 15, 2021, View Source [SID1234576632]). ElevateBio has created a new disruptive business model addressing the most pressing challenges in the field of cell and gene therapy. With an unprecedented suite of next generation-enabling technologies; including gene editing, induced pluripotent stem cells, and protein, viral, and cellular engineering; the company is changing the way the field advances cell and gene therapies. ElevateBio is positioned to power the industry’s most promising therapies with an "Elevate Inside" approach by democratizing access to its technologies, and using ElevateBio BaseCamp (a technology-enabled process development and CGMP manufacturing capability) to advance transformative therapies across the entire industry. With this financing, ElevateBio will continue to develop and expand its technology platforms, build upon its network of process development and GMP manufacturing capacity, and advance an increasing number of industry partnerships, while also continuing to develop its own highly innovative cell and gene therapies.

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Matrix Capital Management led the Series C financing alongside additional new investors SoftBank Vision Fund 2* and Fidelity Management & Research Company who joined ElevateBio’s existing investors: MPM Capital, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital, The Invus Group, Emerson Collective, Surveyor Capital (A Citadel company), EDBI, and Vertex Ventures, iTochu, and a large insurance company.

"ElevateBio has created the first fully-integrated technology company exclusively focused on cell and gene therapy, disrupting the current paradigm by providing end-to-end capabilities that enable partners a strategic advantage in the market and, ultimately, meet the urgent need of patients and families suffering with life-threatening and devastating diseases," said David Hallal, Chairman and Chief Executive Officer of ElevateBio. "While we see remarkable breakthroughs in the earliest days of the cell and gene therapy revolution, accelerating innovation requires next-generation technology, analytics, and production capabilities to deliver therapies better, faster, and cheaper. We are poised to power the field today and for many decades to come and are thrilled to welcome Matrix Capital Management, SoftBank, and Fidelity to our stellar group of existing investors."

Mitchell Finer, Ph.D., Chief Scientific Officer of ElevateBio, President of ElevateBio BaseCamp, and Chief Executive Officer of LifeEDIT Therapeutics continued by saying, "In my nearly 35 years of driving cell and gene therapy innovation across a range of technologies and therapeutics, I have seen much progress toward our ambition to serve patients with intractable diseases – yet innovation is often delayed by technology limitations and the lack of manufacturing robustness. At ElevateBio, we can realize the full potential of cell and gene therapies, by re-envisioning the way these products are made, breaking down silos, leveraging powerful enabling technologies, and changing the mindset from simple manufacturing scale-up to conducting large scale biology. This approach will drive transformative cell, gene, and regenerative therapies today and tomorrow that have the potential to enable access for patients around the globe."

As part of the financing, two new members, Karan Takhar, Senior Managing Director at Matrix Capital Management and Deep Nishar, Senior Managing Partner, SoftBank Investment Advisers, will join ElevateBio’s Board of Directors.

Mr. Takhar leads and oversees key portfolio investments at Matrix Capital. He is a member of the Board of Directors at Encoded Therapeutics, Palleon Pharmaceuticals, and Zentalis Pharmaceuticals. Before joining Matrix, Mr. Takhar spent time working for High Vista Strategies, Goldman Sachs Investment Strategies, and Moody’s Investor Service.
Mr. Nishar leads life sciences, frontier tech, and enterprise software investments at SoftBank Investment Advisers. He has more than 20 years of experience in helping build and grow businesses, and sits on the board of directors of Encoded Therapeutics, Relay Therapeutics, Seer and Vir Bio, amongst other companies. Prior to joining SoftBank, Mr. Nishar served as Senior Vice President of Products and User Experience at LinkedIn.
"ElevateBio’s business model maximizes the potential to capitalize on the convergence of technology and healthcare, creating an entirely new category in cell and gene therapy," said Karan Takhar. "The company is redefining the way cell and gene therapies are discovered, developed, and manufactured, bringing together cutting-edge scientific and digital technologies to enable a seismic shift in the field."

Deep Nishar added, "We are proud to support ElevateBio’s world-class team to expand and advance its technology and manufacturing platforms to accelerate the production and development of tomorrow’s life-saving cell and gene therapies."

Addressing the need in cell and gene therapy:

There are nearly a thousand cell and gene therapies in development targeting a broad range of diseases, yet as of February 2020, only nine cell or gene therapies were approved in the U.S. Despite the small number of approved therapies, the global cell and gene therapy market is expected to reach nearly $50 billion by 2027. The U.S. Food and Drug Administration (FDA) predicts that by 2025, they will be approving 10 to 20 cell and gene therapy products a year based on an assessment of the current pipeline and the clinical success rates of these products. Scaling production from a few million cells in the lab to manufacturing the billions of cells needed to treat patients is uniquely complex. While innovation has greatly advanced in the discovery and development of cell and gene therapies, the approach to manufacturing these novel medicines has largely relied on traditional modes of development or a patchwork of technologies and providers, hampering and slowing their impact on human health.

ElevateBio was built to bring the insights, skills, and technological know-how needed to navigate these complex challenges in a repeated fashion to advance transformative cell and gene therapies to patients whether they are ElevateBio’s own therapeutics or the innovative therapies of its partners.

Bicara Therapeutics Launches with Deep Pipeline of First-in-Class Dual Action Biologics for Cancer Immunotherapy

On March 15, 2021 Bicara Therapeutics, a clinical-stage biotechnology company developing dual-action biologics designed to spur a potent and durable immune response in the tumor microenvironment, reported with a $40 million investment from Biocon Limited (Press release, Bicara Therapeutics, MAR 15, 2021, View Source [SID1234576631]). The financing will be used to advance a robust pipeline of first-in-class bifunctional antibodies developed by a global team, including a highly successful biologics engineering team in Bangalore, India and an experienced executive team in Cambridge, Mass.

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Bicara’s bifunctional approach brings together the precision of tumor-targeted antibodies and the power of immunomodulators. These dual-action therapies are intended to activate a strong immune response inside the tumor microenvironment, while minimizing the impact on healthy cells. This approach has strong potential in patients who are refractory to checkpoint inhibitors and first-line targeted therapies and is designed to achieve efficacy as both a single agent and in combination with approved drugs.

"Immune checkpoint inhibitors and targeted therapies have been important advances in cancer care — but unfortunately, far too many patients either fail to respond or stop responding as their tumors grow resistant. Our dual-action biologics have the potential to bring new hope to these patients," said Claire Mazumdar, Ph.D., MBA, Chief Executive Officer of Bicara Therapeutics. "We have brought together a team with deep experience in engineering complex biologics and a successful track record of developing FDA-approved drugs, and we’re thrilled to be advancing through the clinic so quickly as we move with urgency to address the significant need for more effective cancer treatments."

Bicara’s lead program, BCA101, a first-in-class EGFR / TGFβ-trap bifunctional antibody, entered a Phase 1/2 study at leading U.S. and Canadian cancer centers in July 2020. BCA101 is being evaluated both as a single agent and in combination with the checkpoint inhibitor pembrolizumab in patients with advanced EGFR-driven solid tumors who no longer respond to the standard of care. Based on current progress, the company anticipates transitioning to dose expansion studies in the second half of 2021.

"The strong enrollment we have seen in the BCA101 trial underscores the depth of unmet need, especially in patients who are refractory to the standard of care, including chemotherapy, immune checkpoint inhibitors or targeted therapies," said Dr. Liviu Niculescu, Chief Medical Officer of Bicara. "I’m excited to be a part of the Bicara team as we pursue the potential for a highly targeted bifunctional antibody that can jump-start a more effective immune response and deliver meaningful outcomes for our patients."

"Resistant tumors often survive because they have manipulated the complex biochemistry of the tumor microenvironment to suppress an immune response. Bicara’s bifunctional antibodies are expertly designed to overcome this defense system and spark a strong, highly localized immune attack. They have real potential to make a difference for patients with intractable cancers," said Thomas Tan, Ph.D., Chief Scientific Officer of Bicara Therapeutics. "I am proud of this passionate team and the exciting pipeline of first-in-class biologics we are advancing."

Executive Team

Bicara’s executive team brings years of experience in company-building, oncology, immunology and drug development:

Claire Mazumdar, Ph.D., MBA, Chief Executive Officer, was part of the founding team at Rheos Medicines, an immuno-metabolism company launched from Third Rock Ventures, and a Senior Associate at Third Rock Ventures supporting business development for a number of portfolio companies.
Ryan Cohlhepp, Pharm.D., President and Chief Operating Officer, was part of the founding team at Rheos Medicines and brings more than 20 years of experience in driving drug development and commercialization, including at Takeda Oncology.
Ivan Hyep, MBA, Chief Financial Officer, brings 15 years of experience in finance and strategy, including leadership roles at MOMA Therapeutics and Third Rock Ventures.
Liviu Niculescu, M.D., Ph.D., Chief Medical Officer, previously served as Head of Clinical Development for Oncology and Global Medical Affairs at bluebird bio, following leadership positions at Pfizer and Takeda Oncology.
Seng-Lai (Thomas) Tan, Ph.D., Chief Scientific Officer, brings more than 20 years of experience in immunology and R&D and has most recently held leadership positions at companies including Elstar Therapeutics and Forma Therapeutics.
Board of Directors

Bicara’s board of directors brings significant scientific insights, business development expertise and biotech experience:

Vijay Kuchroo (Chairman), D.V.M., Ph.D., Samuel L. Wasserstrom Professor of Neurology at Harvard Medical School, Senior Scientist at Brigham and Women’s Hospital
F. Stephen Hodi, Jr., M.D., Professor of Medicine, Harvard Medical School, Professor of Medical Oncology, Dana-Farber Cancer Institute
Nils Lonberg, Ph.D., Executive-in-Residence at Canaan Partners, most recently Senior Vice President, Oncology Discovery Biology, at Bristol Myers Squibb
Kiran Mazumdar-Shaw, Executive Chairperson and Founder of Biocon, Ltd.
Scientific Advisory Board

Bicara’s global scientific advisory board includes pioneers in cancer immunotherapy and leading investigators of the tumor microenvironment:

Chaitanya Divgi, MBBS, a nuclear medicine scientist with more than 30 years of leading programs in nuclear oncology
Thomas Gajewski, M.D., Ph.D., AbbVie Foundation Professor of Cancer Immunotherapy at the University of Chicago
Caetano Reis e Sousa, D.Phil., Professor of Immunology at Imperial College London and Senior Group Leader and Assistant Research Director at the Francis Crick Institute
Arlene Sharpe, M.D., Ph.D., George Fabyan Professor of Comparative Pathology and Chair of the Department of Immunology at Harvard Medical School
Dario Vignali, Ph.D., Frank Dixon Chair in Cancer Immunology at the University of Pittsburgh School of Medicine and Co-Director of the Tumor Microenvironment Center at University of Pittsburgh Cancer Institute
Jedd Wolchok, M.D., Ph.D., Chief of the Melanoma and Immunotherapeutics Service; Associate Attending Physician and Lloyd J. Old/Virginia and Daniel K. Ludwig Chair in Clinical Investigation at Memorial Sloan Kettering Cancer Center
About BCA101

Bicara’s lead candidate, BCA101, is a first-in-class EGFR / TGFβ-trap bifunctional antibody designed to enhance both innate and adaptive immune responses directly at the site of the tumor by binding to the well-validated EGFR antigen and disabling TGFβ, a signaling molecule that plays a key role in suppressing the immune response in the tumor microenvironment. Promising preclinical data suggest that BCA101 is superior to the anti-EGFR antibody cetuximab in preventing tumor recurrence, as well as in restoring immune activation. An ongoing Phase 1/2 clinical trial of BCA101, initiated in July 2020, has dosed the first four cohorts of patients in a dose-escalation study with BCA101 as a single agent. A second arm of the study began enrolling patients for combination treatment with BCA101 and pembrolizumab, a PD-1 inhibitor, in January 2021. For more information, please visit clinicaltrials.gov.