On February 15, 2022 (the "Effective Date"), Cue Biopharma, Inc. (the "Company") reported that entered into a loan and security agreement (the "SVB Loan Agreement") with Silicon Valley Bank, as lender ("SVB"), pursuant to which SVB has agreed to provide term loans to the Company in an aggregate principal amount of up to $20.0 million (the "SVB Term Loans"), consisting of (i) a tranche A term loan in the aggregate principal amount of $10.0 million, available to the Company on or around the Effective Date, and (ii) two contingent tranche B term loans in amounts of at least $5.0 million each and in an aggregate principal amount not to exceed $10.0 million, available to the Company at any time on or prior to December 31, 2022, following the Company having received both (x) positive data for the CUE-101 Phase 1 Part B monotherapy sufficient to begin a Phase 2 clinical trial and (y) unrestricted and unencumbered net cash proceeds in a specified amount from the issuance and sale by the Company of its equity securities to investors acceptable to SVB (Filing, 8-K, Cue Biopharma, FEB 15, 2022, View Source [SID1234608316]).

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The SVB Term Loans bear interest at a floating rate per annum equal to the greater of (A) the prime rate (as published in the money rates section of The Wall Street Journal) plus 2.25% and (B) 5.50%. On the first calendar day of each month, the Company will be required to make monthly interest payments and commencing on June 30, 2023 (extended to December 31, 2023 if the tranche B term loans are advanced), the Company will be required to repay the SVB Term Loans in (i) 30 consecutive installments of principal plus monthly payments of accrued interest if the tranche B term loans are not advanced and (ii) 24 months if the tranche B term loans are advanced. All outstanding principal and accrued and unpaid interest under the SVB Term Loans and all other outstanding obligations with respect to the SVB Term Loans are due and payable in full on December 1, 2025.

The SVB Loan Agreement permits voluntary prepayment of all, but not less than all, of the SVB Term Loans, subject to a prepayment premium except if the facility is refinanced with another SVB facility. Such prepayment premium would be 3.00% of the principal amount of the SVB Term Loans if prepaid prior to the first anniversary of the Effective Date, 2.00% of the principal amount of the SVB Term Loan if prepaid on or after the first anniversary of the Effective Date but prior to the second anniversary of the Effective Date, and 1.00% of the principal amount of the SVB Term Loan if prepaid on or after the second anniversary of the Effective Date. Upon repayment in full of the SVB Term Loans, the Company will be required to pay a final payment fee equal to 5.00% of the original principal amount of any funded term loan being repaid.

The SVB Term Loans and related obligations under the SVB Loan Agreement are secured by substantially all of the Company’s properties, rights and assets, except for its intellectual property (which is subject to a negative pledge under the SVB Loan Agreement). The SVB Loan Agreement contains customary representations, warranties, events of default and covenants, including a requirement that the Company maintain in accounts of the Company at SVB unrestricted and unencumbered cash equal to the lesser of all of the Company’s cash and 110% of the obligations to SVB. The occurrence and continuation of an event of default could cause interest to be charged at the rate that is otherwise applicable plus 3.00% (unless SVB elects to impose a smaller increase) and would provide SVB with the right to accelerate all obligations under the SVB Loan Agreement and exercise remedies against the Company and the collateral securing the SVB Term Loan and other obligations under the SVB Loan Agreement, including foreclosure against assets securing the SVB Term Loan and other obligations under the SVB Loan Agreement, including the Company’s cash.

On February 15, 2022 Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company engineering a novel class of injectable biologics to selectively engage and modulate targeted T cells directly within the patient’s body, reported that the company’s therapeutic Immuno-STAT (Selective Targeting and Alteration of T cells) biologics are scheduled to be featured in an Oxford University poster presentation at the Biophysical Society Annual Meeting taking place on February 19-23, 2022 at the Moscone Center in San Francisco, California (Press release, Cue Biopharma, FEB 15, 2022, View Source [SID1234608264]). Cue Biopharma entered into a strategic research collaboration with Dr. Michael Dustin and the University of Oxford in May 2020 to determine the molecular mechanisms underlying the activity of its IL-2 based CUE-100 series biologics.

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Presentation Details
Title: Integration of IL-2 Signaling at the Immunological Synapse
Presenter: Dr. Jesusa Capera Aragones of the Kennedy Institute at the University of Oxford
Poster Session: Membrane Receptors and Signal Transduction
Poster #: 414/B238
Poster Location: Exhibit Hall ABC
Date & Time: February 20, 2022 at 1:45 p.m. PST or 4:45 p.m. EST

"It has traditionally been the view that cytokine signaling follows T cell receptor signaling, however this study demonstrates that antigen-T cell receptor signaling and cytokine signaling can work side-by-side to impact T cell responses through the immunological synapse," said Dr. Dustin, professor of immunology and Wellcome Trust Principal Research Fellow, director of research of the Kennedy Institute at the University of Oxford.

Dr. Anish Suri, president and chief scientific officer of Cue Biopharma commented, "The mechanistic insights provided by the elegant work conducted by Dr. Aragones and Dr. Dustin supports the central hypothesis of Immuno-STATs specifically – that concurrent delivery of antigen and interleukin 2 (IL-2) signals results in robust synapse formation, providing for selective T cell activation, a supposition now being clinically validated through the development of CUE-101, our lead and representative IL-2 based drug product candidate from the CUE-100 series."

About the CUE-100 Series
The CUE-100 series consists of Fc-fusion biologics that incorporate peptide-MHC (pMHC) molecules along with rationally engineered IL-2 molecules. This singular biologic is anticipated to selectively target, activate and expand a robust repertoire of tumor-specific T cells directly in the patient. The binding affinity of IL-2 for its receptor has been deliberately attenuated to achieve preferential selective activation of tumor-specific effector T cells while reducing the potential for effects on regulatory T cells (Tregs) or broad systemic activation, potentially mitigating the dose-limiting toxicities associated with current IL-2-based therapies.

About Immuno-STAT
The company’s Immuno-STAT (Selective Targeting and Alteration of T cells) biologics are designed for targeted modulation of disease-associated T cells in the areas of immuno-oncology and autoimmune disease. Each of our biologic drugs is designed using our proprietary scaffold comprising: 1) a pMHC to provide selectivity through interaction with the T cell receptor (TCR), and 2) a unique co-stimulatory signaling molecule to modulate the activity of the target T cells.

The simultaneous engagement of co-regulatory molecules and pMHC binding mimics the signals delivered by antigen presenting cells (APCs) to T cells during a natural immune response. This design enables Immuno-STAT biologics to engage with the T cell population of interest, resulting in selective T cell modulation. Because our drug candidates are delivered directly in the patient’s body (in vivo), they are fundamentally different from other T cell therapeutic approaches that require the patients’ T cells to be extracted, modified outside the body (ex vivo), and reinfused.

On February 15, 2022, Cannabics Pharmaceuticals Inc. (the "Company") reported that entered into a forbearance agreement (the "Agreement") with an institutional investor (the "Investor") relating to that certain Senior Secured Promissory Note in the original principal amount of $1,375,000 due on December 21, 2021 (the "Note") (Filing, 8-K, Cannabics Pharmaceuticals, FEB 15, 2022, View Source [SID1234608223]). The Note was issued by the Company to the Investor in connection with that certain Securities Purchase Agreement dated as of December 16, 2020, and amended as of February 22, 2021.

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Pursuant to the Agreement, the Investor, through March 7, 2022 (the "Forbearance Period"), agreed to forbear from exercising any rights and remedies against the Company related to the outstanding payments under the Note and to waive certain other defaults under the Note and related rights pursuant to the Registration Rights Agreement entered into in December 2020 between the Company and the Investor. This description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Forbearance Agreement filed as Exhibit 10.1 to this report and is incorporated herein by reference.

Corcept Therapeutics has filed a 10-K – Annual report [Section 13 and 15(d), not S-K Item 405] with the U.S. Securities and Exchange Commission .

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On February 15, 2022 Evotec SE (FSE: EVT; MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) reported that has made an equity investment in IMIDomics, Inc., a privately held global biotechnology company focused on the discovery and development of new targets and medicines for the treatment of patients with immune-mediated inflammatory diseases ("IMIDs") (Press release, Evotec, FEB 15, 2022, View Source [SID1234608174]).

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IMIDs affect nearly one in ten people – limiting quality of life and creating significant challenges to physical and mental well-being. The complexity of these diseases means even getting a diagnosis can be a long-term struggle for patients, and then finding a treatment that works can be a frustrating, time-consuming trial and error process.

"Evotec and IMIDomics are perfectly aligned on their goal to leverage data to discover and develop precise-acting, effective medicines of the future," said Dr Werner Lanthaler, Chief Executive Officer of Evotec. "By joining IMIDomics as a minority shareholder, we are excited to further grow our EVOequity portfolio of highly promising companies with complementary technologies and assets."

In conjunction with the investment, an Evotec representative will join the IMIDomics board of directors. No financial details were disclosed.