On February 1, 2022 FIMECS, Inc. (CEO: Yusuke Tominari, Ph.D., "FIMECS") a private biotechnology company creating a new class of drugs based on targeted protein degradation, reported that FIMECS has entered into a research collaboration with Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., "Astellas") on small molecule protein degraders against multiple targets for a multi-year period (Press release, FIMECS, FEB 1, 2022, View Source [SID1234630696]). The collaboration will leverage FIMECS’ expertise in targeted protein degradation and its proprietary RaPPIDS platform and Astellas’ scientific, regulatory, and clinical capabilities to accelerate the development of life-saving medicines to patients around the world.

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Under the terms of the agreement, FIMECS will conduct research activities on multiple targets and Astellas will advance candidates for development and potential commercialization. Upon designation of a clinical development candidate, Astellas has the option to exclusively license degrader molecules against the designated target. FIMECS will receive an upfront payment and funding to support Astellas-related research. Additionally, FIMECS could earn from potential payments based upon the successful achievement of specified research, development, regulatory, and commercial milestones for all the targets initially selected by Astellas. In addition, FIMECS will receive single digit tiered royalties on future net sales on any products that may result from this collaboration. Astellas may, at its discretion, elect to expand the collaboration to include additional disease targets. This decision would trigger an additional one-time payment, as well as potential payment of milestones and royalties on a product-by-product basis.

"We are thrilled to partner with Japanese top-tier global pharmaceutical company, Astellas to combine their deep understanding of biology and strong clinical development capabilities with FIMECS’ proprietary protein degrader platform," said Yusuke Tominari, Ph.D., CEO, FIMECS. "We have already identified unique E3 ligase binders and established highly effective synthetic method as a degrader discovery platform, RaPPIDS. We are very pleased that our platform has been wellreceived by the organization. This strategic partnership will broaden the application of targeted protein degradation to address diseases with high unmet medical needs. We hope to continue this collaboration with Astellas with the goal of potentially delivering life-saving medicines to patients all over the world."

On February 1, 2022 The Management Board and Supervisory Board of 4SC AG (FSE Prime Standard: VSC) reported that as a result of a review of more recent clinical data 4SC discontinues the development program for domatinostat, an orally administered small molecule class I selective HDAC inhibitor (Press release, 4SC, FEB 1, 2022, View Source [SID1234608076]).

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4SC will now focus its resources completely on resminostat and on seeing an outcome to the ongoing pivotal RESMAIN study in CTCL and prepare for its commercialization in case of positive data. 4SC continues to be well funded and expects to have sufficient cash in-hand to obtain topline results from the RESMAIN study.

Jason Loveridge, Ph.D., CEO of 4SC commented: "As a company, we understand that developing new medicines for patients suffering from malignant diseases is an important, but difficult undertaking. Accordingly, we continually evaluate our development programs as data emerge to support prudent decisions that provide the greatest potential to create value for both patients and our shareholders.

It is of course disappointing that we have decided to discontinue development of domatinostat, including all currently ongoing clinical studies. The preclinical data we generated for the candidate were very persuasive, but the clinical information now available, and which will be published in due course, indicates that domatinostat is unlikely to provide value to patients, physicians, or shareholders. We thank the investigators, the patients, and support staff who have participated in this important research program and will now focus our resources on resminostat and expect to reach an outcome for our pivotal study in CTCL as planned in 2023."

On February 1, 2022 Pulse Biosciences, Inc. (Nasdaq: PLSE), a novel bioelectric medicine company commercializing the CellFX System powered by Nano-Pulse Stimulation (NPS) technology, reported plans to participate in the virtual BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference (Press release, Pulse Biosciences, FEB 1, 2022, View Source [SID1234607633]).

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Management is scheduled to conduct meetings with investors during the conference on Tuesday, February 15th and Wednesday, February 16th, 2022.

On February 2, 2022 Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento") reported that it has completed the acquisition of Virex Health, Inc., a Boston, MA based company ("Virex"), spun out of the labs of Professors Mark Grinstaff and Scott Schaus at BU, on February 1, 2022 (Press release, Sorrento Therapeutics, FEB 1, 2022, View Source [SID1234607603]). The proprietary Virex Technology utilizes enzymatic and electrochemical amplification to detect picogram level biological analytes, such as SARS-CoV-2 and its variants, Flu A/B, as well as markers for liver cancer, inflammation and hormone monitoring.

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"One of the most exciting things about this Virex platform is the potential to finally provide an extremely sensitive and affordable detection test which is simple enough to use at home. Similar to a glucose meter, the amplified electrochemistry signal is converted to an electrical current and read in a reusable glucometer," said Dr. Scott Schaus, Co-Founder and Professor of Chemistry at BU. "Today there are glucose meters in nearly 1 in 10 households in the world. We know the chemistry is broadly adaptable and the supply chain highly scalable."

The Virex and Sorrento teams have been working together to define the first test with which to pursue commercialization. Key personnel, including Drs. Mark Grinstaff and Scott Schaus and Virex scientists, will assist with further development and commercialization.

"The current sensitivity for at-home testing is just too low, and the price per test is still too high for daily testing. With capabilities both in therapeutics and in diagnostics, Sorrento is an ideal company to take this next-generation Virex platform to the world across a wide range of analytes, including viruses, nucleic acids, proteins, hormones and other biomarkers," said Dr. Grinstaff, Co-Founder and a Distinguished Professor of Translational Research. Dr. Grinstaff is a Professor of Biomedical Engineering, Chemistry, Materials Sciences, Engineering and Medicine at BU. Dr. Grinstaff is an inventor of Abraxane and Adherus Surgical Sealants, and he has over 200 patents and patent applications to his name. "Virex seeks to leverage Sorrento’s extensive expertise in producing highly selective and specific monoclonal antibodies for use in at-home diagnostic tests, including tests capable of detecting SARS-CoV-2 nucleocapsid proteins and whole viruses."

"Sorrento has remarkable vision for impacting diagnostics and other sectors of healthcare," said Virex co-founder Keith Hearon, a former postdoctoral fellow in Professor Robert Langer’s Group at MIT. "Sorrento’s acquisition of Virex is particularly strategic because of Sorrento’s robust antibody library, which is highly complementary to Virex’s enzymatic amplification diagnostic assay platform. The puzzle pieces fit very nicely together."

"As Keith’s former postdoctoral advisor at MIT, I’ve continued to follow his career and I’m very proud of what a terrific entrepreneur he has become. He did a great job with his vision for Virex and found a wonderful home for it with Sorrento under the outstanding leadership of Henry Ji," said Professor Langer, David H. Koch Institute Professor at Massachusetts Institute of Technology.

"We at Sorrento are amazed by the unmatched sensitivity of the Virex tests for detecting the virus that causes COVID-19 and are excited to mass produce and commercialize the rapid at-home tests for daily COVID-19 testing and frequent early cancer detection," said Dr. Henry Ji, Chairman and CEO of Sorrento.

Virex received funding support in 2021 from the Massachusetts Life Sciences Center under its Accelerating Coronavirus Testing Solutions program.

On February 1, 2022 Glycotope GmbH, a biotechnology company developing antibodies against proteins carrying tumor-specific carbohydrate structures, and CantonBio Deutschland GmbH, a subsidiary of Canton Biologics Co. Ltd., a leading Chinese CDMO, reported the successful completion of CantonBio’s acquisition of Glycotope’s service business under the newly formed FyoniBio GmbH (Press release, Glycotope, FEB 1, 2022, View Source [SID1234607597]).

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The spin-out completes Glycotope’s refocus solely towards drug discovery and development, utilizing its proprietary technology platform to develop uniquely tumor-specific monoclonal antibodies. FyoniBio, now as part of Canton Biologics Group, will continue the contract development service business and offer a broad range of ISO-9001 compliant services from cell line development to clinical bioanalysis.

Henner Kollenberg, Glycotope’s Chief Executive Officer, said "We look forward to collaborating with FyoniBio for our development needs, while Glycotope’s renewed focus solely on drug discovery and development sharpens our profile as a platform company for tumor targeting antibodies with unique specificity."

Dr. Lars Stöckl, Managing Director of FyoniBio said "We are also looking forward to continuing the service business with a great team of long-term colleagues and long-standing existing partners as well as potential new collaborators."

Dr. Hans Baumeister, Managing Director of FyoniBio added; "We are so happy to be able to offer extended one-stop service packages from clone and cell line development all the way to GMP manufacturing. Our portfolio in clinical bioassay services performed under GCLP quality regulations is surely an add-on for the CDMO service offered by FyoniBio and Canton Biologics."

Dr. Xiao Shen, Founder and Chief Executive Officer of Canton Biologics said, "The acquisition of FyoniBio not only supports the international growth strategy of Canton Biologics, more importantly, through FyoniBio, Canton Biologics can significantly extend our technology platforms and service scope to better support international clients in Europe and worldwide."