On February 1, 2021 Magellan Rx Management, a division of Magellan Health, Inc. (NASDAQ: MGLN), reported that preliminary results from its oncology biosimilar medical pharmacy solution that targets new-to-market oncology therapeutic biosimilars (Press release, Magellan Health Services, FEB 1, 2021, View Source [SID1234574476]). These results further demonstrate Magellan Rx Management’s innovative capabilities and expertise in the specialty drug market. As of May 2020, health plan customers who were quick to partner with Magellan Rx have achieved a 90% rate for authorization for the first two therapies with biosimilar availability. In early 2019, Magellan Rx developed a management program designed to prepare customers, members, and providers for the market entry of oncology biosimilars ahead of their availability in July 2019. Since then, ten oncology biosimilar agents have launched in the United States.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

"These results, less than one year after implementation, highlight Magellan Rx’s passion and commitment to developing forward-thinking, industry-leading solutions to manage one of the most complex and evolving areas of healthcare—medical pharmacy drug spend," said Steve Cutts, PharmD, senior vice president and general manager, specialty, Magellan Rx Management. "Given our 17-year history in medical benefit management, combined with innovative comprehensive oncology solutions and our prior success in advancing biosimilar utilization, we are uniquely qualified to support our health plan customers to deliver true savings while maintaining or expanding member access to clinically-effective, lower-cost treatments."

Health plan customers implemented this program throughout the fall and winter of 2019, shortly after the July 2019 arrival of oncology biosimilars on the market, with several more opting into this innovative program through early 2020. The 90% rate is measured by the number of authorizations approved for the biosimilars compared to the reference brands. Due to the cost differential between oncology biosimilars and their reference brands, savings are expected to be at least 15%,1 but could be greater depending on plan benefit design and other factors. As oncology and oncology support drugs continue to be the largest driver of specialty pharmacy spend on the medical benefit—43% of total medical drug spend for both the Commercial and Medicaid populations and 55% in Medicare2—and given the billions of dollars that are spent on these treatments, significant additional savings are anticipated with full results expected in early 2021.

To learn more about how Magellan Rx Management’s solution can increase the use of less-expensive biosimilars, view this poster that was presented at the Academy of Managed Care Pharmacy Annual Spring Conference in April 2020. For more information on the oncology biosimilar landscape, watch this webisode of MRx Events @ Home featuring one of our in-house specialty experts, Rebecca Borgert, PharmD, BCOP, senior director, clinical strategy and programs.

Amgen Inc. (2019) Amgen And Allergan’s MVASI (bevacizumab-awwb) And KANJINTI (trastuzumab-anns) Now Available In The United States [Press release]. 18 July. Available at: View Source (Accessed: 26 August 2020).
2019 Magellan Rx Management Medical Pharmacy Trend Report, ©2020.

On February 1, 2021 IDEAYA Biosciences, Inc. (Nasdaq: IDYA), an oncology-focused precision medicine company committed to the discovery and development of targeted therapeutics to treat cancer, reported its participation at the following upcoming investor relations events (Press release, Ideaya Biosciences, FEB 1, 2021, View Source [SID1234574475]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Investor Relations Events

Guggenheim Healthcare Talks 2021 Oncology Day (Virtual)
Fireside Chat with Analyst Michael Schmidt
Friday, February 12th, 2021 at 12:00 pm ET

LifeSci Partners Precision Oncology Event (Virtual)
Company Presentation
Wednesday, February 17th, 2021, at 2:00pm ET
A live audio webcast of each presentation will be available by visiting the "Investors/News and Events/Investor Calendar" section of the IDEAYA website at View Source A replay of the webcasts will be available for 30 days following the live event.

On February 1, 2021 Therapeutic Solutions International, Inc., (OTC Markets: TSOI), reported new data demonstrating regression of an animal model of glioma using exosomes isolated from the Company’s cellular immunotherapy product StemVacs (Press release, Therapeutics Solutions International, FEB 1, 2021, View Source [SID1234574474]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Exosomes are cell derived nanoparticles which have been demonstrated to transmit biological information between cells. Dr. Thomas Ichim, Board Member of the Company, published 16 years ago that exosomes from cancer are capable of suppressing immunity1. Today the Company reported opposite findings: in some situations, immune cell exosomes can suppress cancer.

"The current findings demonstrate that StemVacs derived exosomes can directly stimulate natural killer cells, which in turn, suppress glioma growth" said Dr. James Veltmeyer, Chief Medical Officer of the Company and co-inventor of the patent. "Exosomes in some cases possess advantages to administration of cells in that they are more stable than cells and are capable of superior biodistribution due to their small size."

"As a clinical stage cancer immunotherapy company, experimental validation of our intellectual property is extremely important for accomplishing our goals of entering into licensing and/or co-development relationships with Large Pharma" stated Famela Ramos Vice President of Business Development. "The fact that companies such as Fate Therapeutics and Nantkwest are attracting valuations in the billions of dollars, supports our belief that the field of natural killer therapeutics is highly perceived by the industry".

"We are in the process of developing responses to our last interaction with the FDA regarding StemVacs cell therapy" said Timothy Dixon, President and CEO of the Company. "By leveraging our scientific colleagues and finding that StemVacs exosomes are effective in glioma, we are evaluating the possibility of applying for another Investigational New Drug application using exosomes."

On February 1, 2021 Inhibrx, Inc. (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates, reported that the Company will be presenting at the following upcoming virtual investor conference (Press release, Inhibrx, FEB 1, 2021, View Source [SID1234574473]):

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Guggenheim Healthcare Talks: 2021 Oncology Days; Friday, February 12th, at 2 p.m. Pacific Time
The investor conference presentation will be webcast live and may be accessed through a link on the investors section of Inhibrx’s website at View Source The webcast will be available for 60 days following the event.

On February 1, 2021 OncoNano Medicine, Inc. reported the appointment of Martin Driscoll as Chief Executive Officer and a member of the company’s Board of Directors (Press release, OncoNano Medicine, FEB 1, 2021, View Source [SID1234574472]). An accomplished industry veteran with multiple decades of biopharmaceutical development and commercialization experience, Mr. Driscoll most recently served as President and Chief Executive Officer of Spring Bank Pharmaceuticals. Mr. Driscoll succeeds co-founder and CEO Ravi Srinivasan, Ph.D., who has stepped down in a planned transition to pursue other interests.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

"We are thrilled to welcome Marty to our team. Marty’s extensive experience and proven track record at the helm of several successful biopharmaceutical development companies will undoubtedly provide OncoNano with the leadership to advance our business and translate our novel discoveries into important new interventions and treatments for cancer patients," said Al Guillem, Ph.D., Chairman of OncoNano. "Marty joins OncoNano at an important time as we progress our lead program into the pivotal trial stage and advance our first oncology therapeutic, ONM-501, towards the first human studies for this novel immuno-modulator." Dr. Guillem continued, "On behalf of the OncoNano board of directors, I want to thank Ravi for his many contributions to the growth of our company and wish him great success in his future endeavors."

"I’m joining OncoNano at an exciting point in the evolution of the company and I look forward to building on the strong foundation established by Ravi and the OncoNano team as we advance the clinical development of our impressive portfolio of differentiated programs," said Mr. Driscoll. "I was attracted to this opportunity to lead OncoNano by the exciting potential for the company’s innovative core technology that exploits the universal pH biomarker of solid tumors to enhance real-time surgical imaging and enable more efficient and effective delivery of cancer treatments."

Mr. Driscoll brings a proven record in leading privately-held and publicly-traded biopharmaceutical development and commercial-stage companies. He has been involved with or led the commercialization of several important therapies, the direct negotiation of numerous licensing and M&A transactions, multiple private and public capital fundraising efforts and the successful submission of major global product regulatory filings. Mr. Driscoll has also served as a director on the boards of eight biopharmaceutical and diagnostic companies during his career.