PCI Biotech to present at DNB Nordic Healthcare Conference 2021

On December 14, 2021 PCI Biotech (OSE: PCIB), a clinical-stage biopharma company developing innovative therapeutics that address significant unmet medical needs in cancer reported that it has been invited to present at the DNB Nordic Healthcare Conference 2021, an Oslo based online event hosted by DNB (Press release, PCI Biotech, DEC 14, 2021, View Source [SID1234597416]).

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On Thursday, 16 December 2021 at 11:10 (CET), Dr. Per Walday, CEO, will present an overview of PCI Biotech’s proprietary platform technology via a general company presentation. The Company is also available for 1:1 meetings with potential partners and investors.

The presentation slides will be made available on PCI Biotech’s website (www.pcibiotech.com) under "Other presentations".

BeiGene Announces Closing of Its RMB22.2 Billion (US$3.5 Billion) Initial Public Offering on the STAR Market of the Shanghai Stock Exchange in China

On December 14, 2021 BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide, reported that it has completed its previously announced initial public offering (STAR Offering) on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE) (Press release, BeiGene, DEC 14, 2021, View Source [SID1234597276]). The shares offered in the STAR Offering were issued to and subscribed for by permitted investors in the People’s Republic of China (PRC) in Renminbi (RMB Shares). The RMB Shares began trading on the STAR Market under the stock code "688235" on December 15, 2021, China time, making BeiGene the first triple-listed biotechnology company on NASDAQ, the Hong Kong Stock Exchange (HKEx), and the STAR Market.

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The total number of shares offered in the STAR Offering is 115,055,260 ordinary shares, par value $0.0001 per share, which represents 8.62% of BeiGene’s total outstanding ordinary shares as of October 31, 2021, after giving effect to the shares offered. The public offering price of the RMB Shares is RMB192.60 per ordinary share, which equates to HK$234.89 per ordinary share and US$391.68 per American Depositary Share (ADS), based on an assumed exchange rate of RMB0.81996 to HK$1.00 and RMB6.3924 to US$1.00. Each ADS represents 13 ordinary shares.

The gross proceeds to BeiGene from the STAR Offering, before deducting underwriting commissions and other estimated offering expenses, are approximately RMB22.2 billion, or approximately US$3.5 billion, based on an assumed exchange rate of RMB6.3924 to US$1.00.

China International Capital Corporation Limited and Goldman Sachs Gao Hua Securities Company Limited acted as joint sponsors and joint bookrunners for the STAR Offering. J.P. Morgan Securities (China) Company Limited, CITIC Securities Co., Ltd. and Guotai Junan Securities Co., Ltd. acted as joint bookrunners for the STAR Offering.

BeiGene has granted China International Capital Corporation Limited a 30-day overallotment option for up to 17,258,000 additional RMB Shares. If the over-allotment option is fully exercised, the total number of shares offered in the STAR Offering will be 132,313,260 Shares, which represents 9.79% of BeiGene’s total outstanding ordinary shares as of October 31, 2021, after giving effect to the shares offered.

BeiGene expects to use the net proceeds from the STAR Offering to fund its research and clinical development, construction of its research and development centers and a manufacturing plant in China, sales and marketing force expansion in China, and for working capital and general corporate purposes.

In accordance with applicable PRC laws and regulations, the STAR Offering is conducted solely within the PRC and only to permitted investors who are eligible to participate in the STAR Offering in accordance with applicable PRC securities laws and regulations, and rules promulgated by the SSE and the China Securities Regulatory Commission (CSRC). The STAR Offering is conducted pursuant to a prospectus and other offering materials prepared by BeiGene in Chinese language and as approved by and registered with the SSE and the CSRC, which are only permitted to be used within the PRC. No part of the STAR Offering is intended to involve a public offering or sale of the RMB Shares into or in the United States or any other jurisdiction outside of the PRC. In addition, although the RMB Shares are of the same class and have the same rights as the Company’s existing ordinary shares listed on the HKEx, the RMB Shares will not be fungible with the ordinary shares listed on the HKEx or the Company’s ADSs representing its ordinary shares listed on the NASDAQ Global Select Market (NASDAQ), and in no event will any RMB Shares be able to be converted into ordinary shares listed on the HKEx or ADSs listed on NASDAQ, or vice versa.

An automatically effective shelf registration statement on Form S-3 was filed with the Securities and Exchange Commission (SEC) on May 11, 2020. A prospectus supplement relating to and describing the key terms of the STAR Offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. The purpose of the prospectus supplement is to register all RMB Shares offered in the STAR Offering under the Securities Act of 1933, as amended (Securities Act) to ensure that the offer and sale of the RMB Shares, if any, to permitted investors who are U.S. persons (as defined in Regulation S under the Securities Act) in transactions outside the United States will not violate the registration requirements under Section 5 of the Securities Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to, and in accordance with, Rule 134 under the Securities Act.

Zealand Pharma Announces Seven-Year, $200 Million Financing Agreement with Oberland Capital

On December 14, 2021 Zealand Pharma A/S (Nasdaq: ZEAL) (CVR-no. 20045078,) a biotechnology company focused on the discovery, development and commercialization of innovative peptide-based medicines, reported a financing agreement with Oberland Capital Management LLC ("Oberland Capital") (Press release, Zealand Pharmaceuticals, DEC 14, 2021, View Source [SID1234597266]). The agreement includes an upfront payment of $100 million in exchange for a 7-year, interest-only secured note (the "Secured Note").

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In addition to the $100 million upfront payment, Zealand will receive the following:

·$50 million in exchange for an additional note with terms and conditions consistent with the Secured Note, available at Zealand’s option any time prior December 31, 2023, following receipt of approval of glepaglutide for the treatment of short bowel syndrome (SBS) by the Food and Drug Administration;
·Up to $50 million in exchange for an additional note on terms to be mutually agreed upon, available at Zealand’s option any time prior to June 30, 2023, to acquire products and/or companies;
·The interest rate for the Secured Note is 6.0% plus 3-month LIBOR or 0.25%, whichever is greater
·Oberland Capital will also receive a low single-digit royalty obligation on net sales during the term of the agreement.

"This new funding from Oberland Capital enables us to continue to selectively invest in our robust clinical-stage pipeline, which includes multiple programs in Phase 3 trials across a range of metabolic and gastrointestinal diseases, as well as in our pre-clinical pipeline," said Matthew Dallas, Senior Vice President and Chief Financial Officer at Zealand Pharma. "Importantly, in addition to the initial $100 million upfront payment, a further $50 million becomes available on the potential approval of glepaglutide for the treatment of SBS, where we anticipate Phase 3 pivotal trial results in Q3 of 2022."

"We are delighted to support Zealand in its mission to develop and commercialize medicines for patients in need of new treatments for metabolic and gastrointestinal diseases," said William Clifford, Partner at Oberland Capital. "The Zealand team has a clear mission of delivering five commercialized products by 2025, aiming to change the lives of patients, and we are excited to partner with them on this path forward."

BeiGene Announces Authorisation of BRUKINSA (zanubrutinib) from the United Kingdom’s MHRA for the Treatment of Adults with Waldenström’s Macroglobulinemia in Great Britain

On December 14, 2021 BeiGene (NASDAQ: BGNE; HKEX: 06160) reported that the United Kingdom (UK) Medicines and Healthcare products Regulatory Agency (MHRA) has granted a marketing authorisation for BRUKINSA (zanubrutinib) in Great Britain, for the treatment of eligible adult patients with Waldenström’s macroglobulinemia (WM) who have received at least one prior therapy or for the first-line treatment of eligible patients unsuitable for chemo-immunotherapy (Press release, BeiGene, DEC 14, 2021, View Source [SID1234597234]).

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"BRUKINSA is a highly selective BTK inhibitor which, in clinical studies, has provided meaningful improvements in tolerability for some patients with WM compared to ibrutinib," said Dr. Roger Owen, Consultant Haematologist at St. James University Hospital Institute of Oncology in Leeds, UK, and a principal investigator of the ASPEN trial. "Today’s authorisation of BRUKINSA will soon allow eligible patients in Great Britain to access an important new treatment option that may offer improved outcomes."

Although the primary endpoint of statistical superiority related to deep response, very good partial response (VGPR) or better, was not met in the Phase 3 ASPEN trial, BRUKINSA demonstrated a higher VGPR rate – 28% (29/102) compared to 19% in ibrutinib (19/99).1 In addition, 94% of patients on BRUKINSA (n=102) continued to respond for a year or longer compared with 88% of patients on ibrutinib (n=99) who continued to respond for a year or longer.1 Additionally, compared to ibrutinib, BRUKINSA demonstrated a lower frequency of certain adverse events, including atrial fibrillation or flutter (2/101, 2.0% vs. 15/98, 15.3%), minor bleeding (49/101, 48.5% vs. 58/98, 59.2%), and major haemorrhage (6/101, 5.9% vs. 9/98, 9.2%).1 Read more about the ASPEN trial results.

"The authorisation of BRUKINSA in WM in Great Britain is a significant step forward in our commitment to making our BTK inhibitor accessible to eligible patients who may benefit," said Dr. Jane Huang, Chief Medical Officer, Haematology at BeiGene. "BRUKINSA was designed to completely block BTK and stop growth signalling to cancerous B cells, and has demonstrated efficacy and advantages in tolerability over ibrutinib in the ASPEN trial, and we believe it will become a widely-considered treatment option for eligible patients with WM."

"As we continue to work towards having a lasting impact in the global fight against cancer, the authorisation of BRUKINSA in Great Britain is a great step forward in making a difference in the lives of eligible patients," added Dr. Robert Mulrooney, General Manager, UK & Ireland at BeiGene. "This is an exciting milestone as BeiGene continues our focus on increasing global access to innovative oncology medicines."

About Waldenström’s Macroglobulinemia

Waldenström’s macroglobulinemia (WM) is a generally indolent and relatively rare B-cell malignancy characterized by bone marrow infiltration with monoclonal immunoglobulin M (IgM) secreting lymphoplasmacytic cells. WM represents less than two percent of all non-Hodgkin’s lymphomas and typically progresses slowly after diagnosis.3 The disease usually affects older adults and is primarily found in the bone marrow, although lymph nodes and the spleen may be involved.3

About the ASPEN trial

The Phase 3 randomized, open-label, multicentre ASPEN clinical trial (NCT03053440) evaluated BRUKINSA (zanubrutinib) versus ibrutinib in patients with relapsed or refractory (R/R) WM or treatment-naïve (TN) WM considered unsuitable for treatment with chemoimmunotherapy. The primary objective was to establish superiority of BRUKINSA compared to ibrutinib as demonstrated by the proportion of patients achieving complete response (CR) or very good partial response (VGPR). Secondary endpoints included major response rate (MRR), duration of response (DoR) and progression-free survival (PFS), and safety, measured by incidence, timing and severity of treatment-emergent adverse events. The pre-specified analysis populations for the trial included the overall population (n=201), of which the majority were R/R patients (n=164). Exploratory endpoints included quality of life measures.

As assessed by an independent review committee (IRC) based on the modified Sixth International Workshop on Waldenström’s Macroglobulinemia (IWWM-6) response criteria (Treon 2015), the combined rate of CR and VGPR in the overall intention-to-treat (ITT) population was 29% with BRUKINSA (95% CI: 20, 38), compared to 19% with ibrutinib (95% CI: 12, 28). While this difference was not statistically significant, BRUKINSA did achieve numerically higher VGPR rates.1

In the ASPEN trial, BRUKINSA demonstrated a lower frequency of adverse reactions that have raised concern with BTK inhibitors, including atrial fibrillation or flutter (2% vs. 15%), minor bleeding (49% vs. 59%) and major haemorrhage (6% vs. 9%) compared to ibrutinib. Despite higher rates of grade ≥3 neutropenia, patients on BRUKINSA did not demonstrate higher rates of infection as compared to those receiving ibrutinib. Of the 101 eligible patients with WM treated with BRUKINSA, 4% (4/101) of patients discontinued due to adverse events, and adverse events leading to dose reduction occurred in 14% (14/101) of patients.1

The study includes three arms in two cohorts, a randomized cohort (Cohort 1, N=201) consisting of patients with a MYD88 mutation (MYD88MUT) and a non-randomized cohort (Cohort 2, N=28) in which patients with MYD88 wild type (MYD88WT) received BRUKINSA because historic data indicated they were unlikely to benefit from ibrutinib. The randomized Cohort 1 enrolled 102 patients (including 83 R/R patients and 19 TN patients) in the BRUKINSA arm and 99 patients (including 81 R/R patients and 18 TN patients) in the ibrutinib arm. Patients in the BRUKINSA arm were assigned to receive BRUKINSA 160 mg twice daily (BID) and patients in the ibrutinib arm received 420 mg of ibrutinib once daily (QD).

About BRUKINSA

BRUKINSA (zanubrutinib) is a small molecule inhibitor of Bruton’s tyrosine kinase (BTK) discovered by BeiGene scientists that is currently being evaluated globally in a broad clinical program as a monotherapy and in combination with other agents to treat various B-cell malignancies. Because new BTK is continuously synthesized, BRUKINSA was specifically designed to deliver inhibition of the BTK protein by optimizing bioavailability, half-life, and selectivity. With differentiated pharmacokinetics compared to other approved BTK inhibitors, BRUKINSA has been demonstrated to inhibit the proliferation of malignant B cells within a number of disease relevant tissues.2

Safety Information

The most commonly occurring adverse reactions (≥20%) were neutropenia (56.2%), thrombocytopenia (45.1%), upper respiratory tract infection (44.3%), haemorrhage/haematoma (32.2%), rash (29.8%), bruising (29.1%), anemia (28.9%), musculoskeletal pain (24.3%), diarrhea (23.6%), pneumonia (22.1%), and cough (21.7%).

The most common Grade 3 or higher adverse reactions (>5%) were neutropenia (28.0%), pneumonia (11.6%), thrombocytopenia (11.4%), and anemia (6.9%).

Of the 779 patients treated with zanubrutinib, 3.6% of patients discontinued treatment due to adverse reactions. The most frequent adverse reaction leading to treatment discontinuation was pneumonia (1.8%). Adverse reaction leading to dose reduction occurred in 4.9% of patients.

The recommended total daily dose of zanubrutinib is 320 mg. The daily dose may be taken either once daily (four 80 mg capsules) or divided into two doses of 160 mg twice daily (two 80 mg capsules).

BeiGene Oncology

BeiGene is committed to advancing best and first-in-class clinical candidates internally or with like-minded partners to develop impactful and affordable medicines for patients across the globe. We have a growing R&D team of approximately 2,750 colleagues dedicated to advancing more than 90 ongoing or planned clinical trials that have involved more than 14,000 patients and healthy volunteers. Our expansive portfolio is directed predominantly by our internal colleagues supporting clinical trials in more than 45 countries and regions. Haematology-oncology and solid tumour targeted therapies and immuno-oncology are key focus areas for the Company, with both mono- and combination therapies prioritized in our research and development. BeiGene currently has three approved medicines discovered and developed in our own labs: BTK inhibitor BRUKINSA in the United States, China, the EU, Canada, Australia, the United Kingdom and additional international markets; and the non-FC-gamma receptor binding anti-PD-1 antibody tislelizumab as well as the PARP inhibitor pamiparib in China.

BeiGene also partners with innovative companies who share our goal of developing therapies to address global health needs. We commercialize a range of oncology medicines in China licensed from Amgen and Bristol Myers Squibb. We also plan to address greater areas of unmet need globally through our collaborations including with Amgen, Bio-Thera, EUSA Pharma, Mirati Therapeutics, Seagen, and Zymeworks. BeiGene has also entered into a collaboration with Novartis granting Novartis rights to develop, manufacture, and commercialize tislelizumab in North America, Europe, and Japan.

PASCAL BIOSCIENCES CANCELS PRIVATE PLACEMENT FINANCING

On December 14, 2021 Pascal Biosciences Inc. ("Pascal" or the "Company") (TSXV: PAS) (OTC: PSCBF) (FSE: 6PB-FF) reported that it has cancelled its most recent private placement (Press release, Pascal Biosciences, DEC 14, 2021, View Source [SID1234597207]). On October 28, 2021, the Company announced a non-brokered private placement financing of up to $900,000. Pascal has determined in light of market conditions that the current offering should be cancelled until further notice. Pascal is now looking at less dilutive financing options going forward.

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