Entry into Material Definitive Agreement

On June 7, 2022, Olema Pharmaceuticals, Inc. ("Olema") and Aurigene Discovery Technologies Limited ("Aurigene"),reported that entered into an exclusive global license agreement (the "License Agreement") to research, develop and commercialize novel small molecule inhibitors of an undisclosed oncology target (Filing, 8-K, Olema Oncology, JUN 7, 2022, View Source [SID1234615809]).

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Under the terms of the License Agreement, Olema will make an upfront licensing payment of $8 million for rights to a pre-existing Aurigene program. Aurigene will also be eligible to receive up to $60 million in potential clinical development and regulatory milestones, up to $370 million in potential commercial milestones, and royalties ranging from the mid-single digits to the low teens based on annual net sales. During the initial research term, Olema will contribute funding to Aurigene to facilitate ongoing discovery efforts and the companies will jointly direct further preclinical work. Upon successful completion of the research term, Olema will lead clinical development as well as regulatory and commercial activities.

The foregoing description of the License Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the License Agreement, which will be filed as an exhibit to Olema’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. Olema intends to redact certain portions of the License Agreement for confidentiality purposes.

Knight to Present at the 2022 BIO International Convention in San Diego

On June 7, 2022 Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a leading pan-American (ex-US) specialty pharmaceutical company, announced today that Amal Khouri, Chief Business Officer, reported that present at the 2022 BIO International Convention on Tuesday, June 14, 2022 at 2:45 pm Pacific Time (Press release, Knight Therapeutics, JUN 7, 2022, View Source [SID1234615769]).

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Knight’s Business Development team will also be participating in BIO’s One-on-One Partnering which facilitates meetings with senior biotech executives, business development leaders, and investors from premier firms around the globe.

The annual BIO International Convention, hosted by Biotechnology Innovation Organization (BIO), is the world’s largest industry gathering and brings together thousands of global biotechnology and biopharmaceutical leaders. The four-day, in-person event includes networking, programming, and partnering opportunities.

Ichnos Sciences To Present At The 2022 Jefferies Healthcare Conference

On June 7, 2022 Ichnos Sciences Inc., a clinical-stage global biotechnology company developing innovative multispecific antibodies for oncology, reported that its president and chief executive officer, Cyril Konto, M.D., will present at the 2022 Jefferies Healthcare Conference in New York on Wednesday, June 8 at 3:30 PM Eastern Time (Press release, Ichnos Sciences, JUN 7, 2022, View Source [SID1234615762]).

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"Ichnos has been working to develop and advance therapies for cancer that extend and improve survival and quality of life, driven by the belief that cure is possible," said Cyril Konto, M.D., President and Chief Executive Officer of Ichnos Sciences. "We are excited to come together with other health and biotech innovators at the Jefferies Conference and honored to have the opportunity to share our plans for shifting medicine forward."

Dr. Konto’s presentation comes just weeks after Ichnos announced the selection of its ISB 2001 TREAT[1] trispecific antibody, the first T cell-engaging antibody that targets BCMA and CD38 on multiple myeloma cells, as its next candidate to move into clinical development. Ichnos’ pipeline also includes ISB 1342, a CD38 x CD3 bispecific antibody, which continues to enroll patients with relapsed/refractory multiple myeloma in an ongoing Phase 1, dose escalation and expansion study, and ISB 1442, a CD38 x CD47 biparatopic bispecific antibody for which a Phase 1 study in relapsed/refractory multiple myeloma is planned to start shortly.

A live webcast of the presentation can be accessed through this link. A replay of the webcast will be available for one year following the conference.

Phost’in Therapeutics announces approval of French and Italian Health Agency for a first European clinical trial application in patients with advanced solid tumors, in collaboration with Foundation Gianni Bonnadona

On June 7, 2022 Phost’in Therapeutics (Montpellier, France), a biotech company focused on the discovery and development of N-glycosylation inhibitors for the treatment of cancer and other serious diseases, reported the French National Agency for the Safety of Medicines and Health Products (ANSM) and the Italian Medicines Agency (AIFA) have accepted an adaptive Phase I/II in patients with advanced solid tumors for the First-In-Class selective n-glycosylation inhibitor, PhOx430 (the PhAST trial) (Press release, Phost’in, JUN 7, 2022, View Source [SID1234615742]).

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PhOx430 targets a key glycosylation mechanism responsible for supporting cancer proliferation and suppressing the immune response. The program has demonstrated a significant antitumoral efficacy in several animal models, associated with a promising safety profile in regulatory preclinical studies.

The PhAST trial will begin enrolling two dozen of patients with non-selected tumour types in a dose escalation phase, followed by three expansion cohorts gathering patients with selected tumour types, including Glioblastoma multiforme (GBM), Triple-negative breast cancers (TNBC) and a selection of other solid tumour types, for which few therapeutic options exist.

The primary objective will be to determine the safety and tolerability of PhOx430 in patients. The secondary objectives will include a preliminary evaluation of efficacy, in addition with the identification of biomarkers.

In France, the CTA was submitted and accepted as part of ANSM’s Fast Track procedure designed to reduce processing times for clinical trial authorization requests for innovative medical products.

Karine Chorro, CEO of Phost’in Therapeutics, said: "The approval of this CTA marks an important regulatory milestone for PhOx430. We are grateful to the French and Italian Competent Authorities for their positive feedback on what we believe is a disruptive clinical innovation, and a formidable hope for patients with limited therapeutic options. We will continue our efforts to advance PhOx430 clinical development, and to bring it to patients and their families."

GBM, still a rare disease with a global incidence rate inferior to 10 per 100,000 in Europe and North America, remains one of the most aggressive malignant cancer types, difficult to treat and associated with high mortality. The life expectancy of GBM patients is typically less than 15 months after diagnosis. TNBCs represent 10-15% of all breast cancers, are typically associated with a high risk of early metastasis, including brain metastases, and bad 5-year prognostic. Therefore, there is a critical and unmet therapeutic need for both indications.

The clinical program received the scientific contribution of Gianni Bonadonna Foundation, which collaborated in the conception and design of the research protocol. "The approval of this trial represents the actualization of one of the main goals of the Gianni Bonadonna Foundation: to endorse therapeutic innovation from the earliest phases of research, to achieve the best results in favor of cancer patients" declared Dr. Luca Gianni, President of Gianni Bonadonna Foundation.

Dr. Diego Tosi, Gianni Bonadonna Foundation’s scientific coordinator and head of the Early Clinical Trial Unit-Medical Oncology Department of the Cancer Institute of Montpellier in France, has been entrusted with the international direction of this first-in-human clinical trial, conducted in French and Italian Oncological Centers. "This is the first drug with this type of mechanism of action", Diego Tosi explained. "The antitumor action seems mainly due to the effect on the membrane receptors, and the drug is highly effective in the preclinical setting; there are less data on how the immune response is modified, but our research will try to find answers".

Phost’in Therapeutics has also appointed contract research organization ("CRO") Michelangelo Tech Srl (Milan, Italy) to coordinate the PhAST trial. Owned by the Michelangelo Foundation with the aim of contributing to progress in cancer research and improving treatment options for tumors, Michelangelo Tech Srl provides extensive expertise in early phase clinical development, precisely to favor the rapid clinical application of new therapies.

About PhOx 430 treatment
The aberrant, complex and hypersialylated glycosylation of tumor cells is now recognized as a novel immune checkpoint, affecting key membrane receptors and masking tumor cells from the immune system, via the formation of complex abnormal glycan patterns operating as a shield. PhOx430 targets this aberrant glycosylation directly to the source through selective inhibition of a specific enzyme for a double antitumor effect, inducing simultaneously an anti-cancer immune response and the down regulation of the main receptors implicated in cancer. PhOx430 is the first program from the Phost’ScreenTM platform that combines unique and patented chemical libraries with cutting-edge screening tools to produce selective n-glycosylation inhibitors.

Evaxion Biotech Secures Equity Financing of up to $40 Million from Lincoln Park Capital

On June 7, 2022 Evaxion Biotech A/S (NASDAQ: EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-powered immunotherapies, reported that it has entered into a committed equity purchase agreement (the "Agreement") with Lincoln Park Capital Fund, LLC ("LPC"), for the issuance and sale, from time to time, of up to $40 million of its American Depositary Shares (the "ADSs"), each of which represents one ordinary share, DKK 1 nominal value, of the Company (the "Ordinary Shares") (Press release, Evaxion Biotech, JUN 7, 2022, View Source [SID1234615741]).

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Under the terms of the Agreement, Evaxion has the right, at its sole discretion, but not the obligation, to sell to LPC up to $40 million of its ADSs over the 36-month term of the Agreement, subject to certain conditions.

Lars Wegner, CEO of Evaxion, said: "We are pleased to conclude this Agreement with Lincoln Park Capital, securing access to $40 million from a widely respected investor in the biotech industry and further strengthening Evaxion’s financial position during a period of market uncertainty. This equity facility will contribute to the progression of our exciting portfolio of assets, including personalized cancer medicines, developed in programs EVX-01 and EVX-02, both of which are currently in Phase 2 clinical development, according to plan. This gives us momentum to reach our value-creating, upcoming clinical milestones. Importantly, it also maintains Evaxion’s flexibility in deciding if and when to exercise the option to sell, so we can continue to choose the optimum development path for the Company."

Evaxion had cash and cash equivalents of $31.4 million at the end of the first quarter of 2022 and expects its cash position, without proceeds from the Agreement, to be sufficient to fund operating expenses and capital expenditure requirements through at least the next 12 months.

There are no upper limits to the price LPC may pay to purchase the ADSs, and the purchase price will be based on the prevailing market prices of the ADSs at the time of each sale to LPC. Evaxion controls the timing and amount of any future sales of its ADSs to LPC. The Company may terminate the Agreement at any time, in its sole discretion, without any additional cost or penalty. In consideration for entering into the Agreement, LPC received 428,572 Ordinary Shares represented by ADSs from the Company.