On January 6, 2022 Odyssey Therapeutics, a biotechnology company pioneering next generation precision immunomodulators and oncology medicines, reported that it has acquired Rahko, a leading quantum machine learning company, adding powerful new tools to Odyssey’s discovery platform to enable faster and more efficient drug discovery ((Press release, Odyssey Therapeutics, JAN 6, 2022, View Source [SID1234598312]).

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"This acquisition gives Odyssey the opportunity to pair artificial intelligence and physics-based methods with a team of master drug-hunters, a combination that is critical to elevating precision medicine and redefining what’s possible in drug development," said Gary D. Glick, Ph.D., Founder and Chief Executive Officer of Odyssey Therapeutics. "Rahko’s powerful platform will play a direct role in identifying the best leads for our targets with unprecedented speed and accuracy, assisting with our efforts to address the undruggable genome with the goal of delivering transformational impact for patients with inflammatory diseases and cancer in record time."

Rahko was founded in 2018 by Leonard Wossnig, Ph.D., Edward Grant, Ph.D., Miriam Cha, and Ian Horobin, with financing from Balderton Capital. Rahko has built a quantum drug discovery platform that brings together three key technologies—computational chemistry, machine learning, and quantum computing—to drive a better understanding of the behavior of drugs. The quantum machine learning models in Rahko’s platform combine physics and machine learning, enabling faster and better chemical simulations, systematic limitation of prediction errors, and reduction of the amount of data required to create models. The dynamics of these proteins are explored using physics-based simulation methods that uncover novel binding sites such as cryptic pockets. This information is combined with structure-based generative machine learning methods to generate novel molecular candidates to rapidly start programs with the best possible chemistry. Odyssey is also combining Rahko’s quantum machine learning methods with functional genomics and other omics data to identify novel targets.

"Since Rahko’s founding, we have focused on removing key bottlenecks in drug discovery using quantum machine learning descriptors and models for best-in-class lead identification and optimization of drug candidates," said Leonard Wossnig, Ph.D., Co-Founder and former Chief Executive Officer of Rahko, now Vice President of artificial intelligence at Odyssey Therapeutics. "The current renaissance in medicinal chemistry, new drug discovery technologies, and an expanded understanding of the drivers of immune dysfunction and cancer represent precisely the kind of unprecedented opportunity our platform was designed to maximize."

Odyssey has developed a strategy to create a portfolio of product candidates that will go beyond the limitations of current medicines and enhance the standard-of-care for patients living with inflammatory diseases and cancer. The company is focused on targets and mechanisms that control validated signaling nodes that drive diseases and will create medicines that achieve optimal product profiles for patients. In addition, Odyssey is applying its highly integrated drug hunting engine and class-leading computational and data sciences platform to challenging, high-value targets that have the potential to revolutionize treatment paradigms, but for which traditional discovery approaches have not succeeded.

In December 2021, Odyssey announced the completion of an oversubscribed $218 million Series A financing led by OrbiMed Advisors and co-led by SR One Capital Management with participation from Foresite Capital, Woodline Partners LP, Logos Capital, HBM Healthcare Investments, Colt Ventures, Creacion Ventures, and other institutional investors.

On January 6, 2022 Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") reported that it has entered into a License Agreement granting the exclusive rights for global research, development, manufacture and sale of the investigational anticancer agent H3B-8800 to a subsidiary of Roivant Sciences Ltd. (Nasdaq: ROIV, Headquarters: London, U.K., "Roivant") (Press release, Eisai, JAN 6, 2022, View Source [SID1234598214]). H3B-8800 (Roivant’s Development Code: RVT-2001) is a splicing modulator compound, discovered by Eisai’s U.S. research subsidiary H3 Biomedicine Inc., which is undergoing development as an investigational anticancer agent.

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H3B-8800 is an orally available small molecule modulator of splicing factor 3B subunit 1 (SF3B1), discovered by H3 Biomedicine Inc. Splicing occurs to remove introns that are base sequence of pre-messenger RNA (mRNA), unneeded for protein synthesis, in the process of synthesizing proteins based on the genetic code. Mutations in splicing factor-encoding genes are observed in multiple hematological malignancies and solid tumors. SF3B1 is a particularly frequent gene mutation in splicing factors.1,2 H3B-8800 binds to SF3B1, and demonstrated significant antitumor activity in preclinical models by modulating the disruption of mRNA splicing in cancer.3 Eisai and H3 Biomedicine Inc. are currently conducting a Phase I clinical trial of H3B-8800 in the U.S. and Europe in patients with myelodysplastic syndrome carrying SF3B1 mutations.

Under the terms of the agreement, Eisai will receive a contractual up-front payment, development, and regulatory milestone payments for H3B-8800, and will also receive a certain amount of royalties on sales revenue of H3B-8800 after the launch.

Roivant is a biopharmaceutical company with a unique business model. Roivant builds and launches subsidiaries, called "Vants" which conduct efficient clinical development in diverse therapeutic areas. Eisai believes that this License Agreement with Roivant will lead to the maximization of the value of H3B-8800. Eisai will continue to accelerate its discovery of new medicines based on cutting-edge cancer research, as it seeks to contribute further to addressing the diverse needs of, and increasing the benefits provided to, patients with cancer, their families, and healthcare providers.

On January 5, 2022 Protai, an AI-powered drug discovery startup, reported its emergence from stealth, along with an $8 million seed financing round co-led by Grove Ventures and Pitango HealthTech (Press release, Protai Bio, JAN 5, 2022, View Source [SID1234647409]). The funding will be used to further develop Protai’s platform, accelerate its discovery programs and enhance its partnerships with pharmaceutical companies.

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Despite the significant contribution of genome-level information to the efforts of drug R&D, this information fails to represent the functional layer of the cell reflected and dominated by proteins. This lack of functional understanding of a disease’s molecular mechanisms is one of the main shortcomings of the current drug discovery and development process.

Protai has built an end-to-end AI-based platform that comprehensively maps the course of a disease on the protein level, enhancing the ability to observe cellular function and thereby improving the way new drugs are discovered. This effective approach enables Protai to increase accuracy in drug discovery and improve the development process, substantially saving time and lowering the costs of R&D.

"Protai’s platform is like a unique compass for directing drug discovery," said Eran Seger, CEO and co-founder of Protai. "We are systematically mapping diseases on the protein level to create an entirely new layer of functional information which enables us to identify therapeutic and diagnostic targets to better combat a wide range of complex diseases."

Protai has created the world’s largest and most diverse proteomic database with over 50,000 clinical samples by harmonizing large clinical datasets, as well as healthy samples from various organs and indications. This enables Protai to establish a baseline to then accurately simulate biological functional processes for a variety of diseases and accelerate drug R&D through clinical and preclinical stages.

"Protai is leading a paradigm shift in proteomics based drug discovery by creating a new class of high-quality data that was previously not available to drug researchers and development professionals," said Ittai Harel, General Partner at Pitango Venture Capital. "We are proud to support the founders and the company, as we expect its advanced technology to promote effective novel drug and biomarker development."

"Our investment in Protai highlights Grove Ventures’ increasing commitment to the potential of AI in improving drug discovery and development," said Lior Handelsman, General Partner at Grove Ventures. "We are happy to partner with this exceptional team, and we are positive that Protai will make a huge leap forward in how drug candidates are selected and in how people are treated and cured."

On January 5, 2022 PCI Biotech (OSE: PCIB), a Norwegian cancer focused biopharmaceutical company and MDimune Inc. ("MDimune"), a private South Korean biotech company developing innovative drug delivery technologies for modifying cellular and disease processes in many areas of human disease, reported a preclinical research collaboration that would offer several opportunities for future development (Press release, PCI Biotech, JAN 5, 2022, View Source [SID1234638625]).

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Commenting on the announcement, Per Walday, CEO of PCI Biotech, said: "We are very pleased to initiate a collaboration with MDimune. This collaboration is an additional mark of interest from a cutting-edge biotech company developing therapies with emerging advanced technologies, with a large potential in future medicine."

Seung Wook Oh, Chief Scientific Officer of MDimune added: "We are excited to launch this collaboration with PCI Biotech. PCI Biotech’s versatile photochemical technologies have the potential to enhance several aspects of our technologies, to make future therapies more efficient and more specific."

On January 5, 2022 Covis Pharma Group ("Covis"), a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses, reported that Covis Pharma GmbH has completed the acquisition of Eklira (aclidinium bromide), known as Tudorza in the US and marketed as Bretaris in some countries, and Duaklir (aclidinium bromide/formoterol), marketed as Brimica in some countries, from AstraZeneca (the "Acquisition") (Press release, Covis Pharmaceuticals, JAN 5, 2022, View Source [SID1234609116]). Under the terms of the Acquisition agreement, AstraZeneca received a payment of $270m from Covis. AstraZeneca will also receive payments in respect of certain ongoing development costs related to the medicines.

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In addition, Covis is pleased to announce that it has entered into an Exclusive Promotion and Distribution Agreement (the "Novartis Distribution Agreement") with Novartis Pharmaceuticals Canada Inc. ("Novartis"), whereby Covis has been appointed as Novartis’ exclusive partner to promote and distribute PrSeebri Breezhaler and PrUltibro Breezhaler in Canada.

Building upon Covis’ previous acquisition of the global rights to respiratory medicines Alvesco, Omnaris and Zetonna from AstraZeneca in 2018, the completion of the Acquisition and the entering into of the Novartis Distribution Agreement, enables the company to continue to meet one of its key strategic initiatives to become a leading respiratory company by creating a platform to offer a continuum of care for respiratory patients.

"The closing of the acquisition and the expansion of our business in Canada with the Novartis partnership enables Covis to offer a full continuum of best-in-class therapies for allergic rhinitis, asthma and COPD and demonstrates our ability to engage with, and be a partner of choice for, leading pharmaceutical companies," said Covis CEO Michael Porter. "As previously announced, as a result of the acquisition and this partnership with Novartis, Covis is firmly placed as one of the top 10 respiratory companies in the world. We are excited about our growth in this therapeutic area, and maintaining access to these important therapies for patients and physicians."

In connection with the Acquisition, Barclays acted as financial advisor to Covis and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Covis. Buchanan Ingersoll & Rooney PC, Sidley Austin LLP and Fasken Martineau LLP provided regulatory and intellectual property law advice to Covis.

About the Medicines

Eklira (aclidinium bromide) and Duaklir (aclidinium bromide/formoterol) are inhaled respiratory medicines used for the maintenance treatment of COPD. Eklira is a long-acting muscarinic antagonist (LAMA), which is marketed in the US as Tudorza and in some countries as Bretaris. Duaklir is a combination therapy that contains both a LAMA and a long-acting beta2-agonist (LABA). It is marketed in some countries as Brimica. Both medicines are presented as a dry powder for inhalation and are delivered via a breath-actuated multi-dose dry powder inhaler, Genuair (Pressair in the US).

Seebri Breezhaler (glycopyrronium bromide) is a long-acting muscarinic antagonist (LAMA), indicated as a long-term once-daily maintenance bronchodilator treatment in patients with COPD including chronic bronchitis and emphysema. Ultibro Breezhaler (indacaterol maleate/glycopyrronium bromide) is a combination therapy that contains both a LAMA and a long-acting beta2-agonist (LABA). It is indicated for the long-term once-daily maintenance bronchodilator treatment of airflow obstruction in patients with COPD), including chronic bronchitis and emphysema, and for the reduction of exacerbations of COPD in patients with a history of exacerbations. Both medicines are a dry powder presented as capsules for oral inhalation via the Breezhaler, a breath-actuated dry powder inhaler.