IMM2902 is granted Fast Track designation for breast cancer by the U.S. FDA

On July 15, 2022, ImmuneOnco Biopharmaceuticals (Shanghai) Inc. (hereinafter referred to as "ImmuneOnco" and the company) reported that the first global CD47×HER2 bispecific molecule (IMM2902) have received Fast Track Designation (FTD) from the U.S. Food and Drug Administration (FDA) for breast cancer (Press release, ImmuneOnco Biopharma, JUL 15, 2022, View Source [SID1234655664]). The grant of FTD by the US FDA is a major affirmation to IMM2902.

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After the drug candidate IMM2902 under development is granted the FTD status, the company will have more opportunities to communicate with the US FDA in the process of clinical trial and review. It is expected to be able to discover and solve problems in research and development in a timely manner, which will help to speed up clinical research and approval of the drug.

Preclinical studies demonstrate that IMM2902 exhibits robust anti-tumor activity in several breast and gastric tumor models, including HER2-expressing low and trastuzumab-resistant tumor models. We are conducting a Phase Ia/Ib clinical trial in China to evaluate the efficacy of IMM2902 in advanced HER2-positive and HER2 expressing-low solid tumors, including breast cancer, gastric cancer, non-small cell lung cancer and cholangiocarcinoma. The first patient was dosed in February 2022. We also initiated a clinical trial in advanced HER2-positive and HER2-expressing-low solid tumors in the United States, the first patient was dosed in June 2022.

Chairman and founder of ImmuneOnco, Dr. Tian, Wenzhi is full of confidence in the clinical research of IMM2902. He said: "We are highly inspired that our IMM2902 has been granted Fast Track designation for breast cancer by the U.S. FDA. IMM2902 is a bi-specific molecule for targets CD47 and HER2 developed based on our own R&D platform. The high affinity of the molecule allows it to preferentially bind to tumor cells. At the same time, it doesn’t bind to human erythrocytes so as avoiding the ‘antigen sink effect’ thus greatly enhancing the specific synergistic effect of two targets against tumors. Although HER2 antibody-drug conjugates (ADCs) have shown activity in certain HER2-low-expressing tumors in clinical trials, they are often associated with serious adverse reactions such as interstitial pneumonitis and even death, which bring potential risks to patients. We believe that the similar efficacy and better safety profiles demonstrated by IMM2902 will make it valuable in clinical development and commercial potential."

NOXXON Pharma Announces Name Change to “TME Pharma” and New Trading Symbol

On July 15, 2022 TME Pharma N.V., a biotechnology company focused on developing novel therapies for treatment of cancer by targeting the tumor microenvironment (TME), reported that it has officially changed its corporate name from "NOXXON Pharma N.V." to "TME Pharma N.V." and the ticker symbol for the company’s common stock on the Euronext Growth Paris will change from "ALNOX" to "ALTME" (Press release, TME Pharma, JUL 15, 2022, View Source [SID1234626439]). Trading under the new name and ticker symbol will begin at the market opening on Tuesday, July 19, 2022. In addition to the new ticker ALTME, the ISIN will be amended from NL0012044762 to NL0015000YE1 on the share consolidation Ex-Date, July 28, 2022.

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TME Pharma also announced the launch of its new corporate website that can be viewed on www.tmepharma.com.

Aram Mangasarian, CEO of TME Pharma, commented: "Over the last several years, our company has evolved into an oncology biotech with a clear focus on advancing approaches altering the tumor microenvironment – TME – where our technology has shown strong signs of efficacy. The name change to TME Pharma marks this successful transformation for our team and our stakeholders. Our strategy will prioritize and continue to support opportunities with the fastest path to approval. Following recently reported exceptional results in our glioblastoma program, we will focus our capabilities to successfully develop our lead asset NOX-A12 and reach this milestone in this indication first."

All shares of NOXXON Pharma N.V. will become shares in TME Pharma N.V. at parity with no actions needed from the company’s current shareholders.

Almac, AstraZeneca CDx Partnership Branching Out to New Disease Areas, Drawing on NGS, qPCR

On July 15, 2022 Almac Diagnostics reported that it’ new partnership with AstraZeneca will see the Craigavon, UK-based company draw on its next-generation sequencing and quantitative PCR platforms and deep bench of bioinformatics talent to develop new companion diagnostic assays (Press release, Almac, JUL 15, 2022, View Source [SID1234618088]).

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The new tests, once developed, will be used for selecting patients who might best benefit from therapies for kidney disease, nonalcoholic steatohepatitis, and respiratory disease.

Michael Sloan, VP of commercial services for Almac Diagnostic Services, said via email that the firm’s companion diagnostics business "has always been a core service" for Almac, and that deals such as the one with AstraZeneca, announced last month , form a significant part of its business.

Sloan noted that companion diagnostics remain an "overarching focus" for Almac, which offers a variety of services around biomarker discovery and clinical trials, as there will always be a need to select which patients will benefit from different treatments.

"Ultimately the end goal will always be to enable biopharma partners to take it all the way through to a companion diagnostic," Sloan said.

Part of the Almac Group, Almac Diagnostic Services has partnered with biopharmaceutical partners for years and has gained experience in developing companion diagnostics for oncology programs. In recent years, though, the number of programs in chronic diseases has increased, and Sloan said that Almac is working as much in those diseases these days as in oncology.

Its technology workhorses have evolved, too. Almac Diagnostics was once heavily invested in microarray technology, and even produced a series of Disease-Specific Arrays (DSAs) focused on different indications and optimized for use on formalin-fixed, paraffin-embedded samples. The arrays were manufactured by Affymetrix, later acquired by Thermo Fisher Scientific.

In recent years though, the company, headquartered about 30 miles southwest of Belfast in Northern Ireland, has turned toward other technologies for its companion diagnostics programs.

"As a company we moved away from microarray technology to focus on qPCR and NGS technologies in line with market changes, advances in clinical practice, and demand," said Sloan.

Sloan acknowledged that DSAs are no longer listed among Almac’s platforms on its website. He said instead that next-generation sequencing is a main technology for the company for companion diagnostic development, while he characterized qPCR as "extremely important."

"In chronic disease, for example, qPCR is often the most cost-effective approach for diseases that are associated with relatively few gene variants," said Sloan.

Another perk to using qPCR is that the COVID-19 pandemic prompted laboratories worldwide to invest in new equipment to undertake SARS-CoV-2 testing, Sloan pointed out. That means there is now a significant installed base of qPCR diagnostics instruments basically everywhere, including in local hospital laboratories, systems that can support future companion diagnostics, making the technology a "very attractive option" for such assays.

Almac also works with NanoString’s platform in its genomic services business, enabling the firm to develop and optimize assays that range from single-gene and multiplex tests to small-, mid-, and large-sized panels. Genomic services support biomarker discovery and include the aforementioned platforms as well as pathology reviews and clinical support.

The company offers a clinical trial assay service in addition to its companion diagnostics service.

Sloan noted the firm has a seasoned data sciences team with expertise in bioinformatics, biostatistics, and software development, which is part of its offering for biodiscovery, as well as a sample management team.

All of these offerings interlock though, and biomarkers discovered via genomic services can be transited to its clinical trial assay services and be run from Almac’s numerous global clinical testing laboratories. The same markers can also find their way into companion diagnostics development.

Almac has locations scattered around the world, with a new EU headquarters across the border in County Louth, Ireland, and diagnostics services also based in Durham, North Carolina, and Manchester, UK.

In terms of companion diagnostics, Sloan said the company gives clients like AstraZeneca full-service support, including assistance in the development, manufacturing, and commercialization of such assays. This includes regulatory and clinical support, too, he said. Almac can also offer customers single-site and kitted commercial offerings for their companion diagnostics programs.

According to Sloan, AstraZeneca will draw on all of Almac’s services for the new collaboration and the resulting assays will be based both on qPCR and sequencing.

A spokesperson for AstraZeneca, which is headquartered in Cambridge, UK, has annual revenues of $37 billion and employs north of 76,000 people, said that the company’s focus on precision medicine led it into an alliance with Almac.

She called precision medicine an "integral part" of the company’s R&D efforts and said that more than 90 percent of the company’s pipeline now has such an approach.

"Our ambition in biopharmaceuticals R&D is to develop precision medicines for chronic diseases that make it possible to diagnose and intervene earlier," the spokesperson said.

The partnership with Almac is an outcome of this turn toward precision medicine, according to the spokesperson. She reiterated that the duo will work on specific companion diagnostics assays in certain disease areas, including kidney disease, nonalcoholic steatohepatitis, and respiratory disease.

These will later be implemented into clinical trials, where they will be used to select patients for participation. Later, the same tests could be slotted into routine clinical practice, the spokesperson added, to support the rollout of numerous new therapies worldwide.

Almac’s global sweep helped it secure the new collaboration. The spokesperson said that AstraZeneca selects its partners as part of a "rigorous process ensuring their scientific, regulatory, and commercial capabilities." By partnering with Almac, AstraZeneca aims to deliver tests that can be commercialized to enable access to treatment for chronic diseases in a manner that is "consistent with regulatory requirements, across a range of localities," the spokesperson said.

Such partnerships have paid off for AstraZeneca. The spokesperson noted that AstraZeneca and its partners have delivered more than 50 regulatory approved companion diagnostics to market to date. Such assays have been aligned to targeted medicines and in different regions, she noted.

The company has churned out a series of new companion diagnostics deals in recent months, including an agreement with Biocartis related to non-small cell lung cancer announced in June and another with Amoy Diagnostics related to therapies for breast and prostate cancers in April.

For its part, Almac also has a track record in the companion diagnostics space. In 2019, for instance, the company obtained a CE-IVD mark for a sequencing-based test for selecting molecular eligibility in a cancer drug clinical trial undertaken by Turning Point Therapeutics. The same year, the US Food and Drug Administration granted an investigational device exemption for the same diagnostic assay.

The company inked an agreement in January 2021 with Personal Genome Diagnostics to improve opportunities for clinical trial development and companion diagnostic projects. As part of that deal, Almac and PGDx agreed to provide pharmaceutical clients with access to the latter’s PGDx elio tissue complete and PGDX elio plasma resolve assays in combination with Almac’s genomic services and molecular diagnostic development expertise.

Entry into a Material Definitive Agreement

On July 15, 2022 Akebia Therapeutics, Inc. (the "Company"), BioPharma Credit PLC (the "Collateral Agent"), BPCR Limited Partnership (as a "Lender") and BioPharma Credit Investments V (Master) LP (as a "Lender") reported that entered into the Second Amendment and Waiver (the "Second Amendment and Waiver"), which amends and waives certain provisions of the Loan Agreement, dated November 11, 2019, as amended by the First Amendment and Waiver, dated February 18, 2022, between the parties (as amended, the "Loan Agreement") (Filing, 8-K, Akebia, JUL 15, 2022, View Source [SID1234616745]).

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Pursuant to the Second Amendment and Waiver, on the Effective Date, the Company made a $5,000,000 prepayment of principal of the tranche A loan (the "Second Amendment Effective Date Tranche A Prepayment") and a $20,000,000 prepayment of principal of the tranche B loan (the "Second Amendment Effective Date Tranche B Prepayment"), in each case, together with any and all accrued and unpaid interest on such prepayments of principal to the Effective Date. In connection therewith, the Company also paid an aggregate of $500,000 in prepayment premiums under the Loan Agreement.

Subject to the payment in full by the Company of the Second Amendment Effective Date Tranche A Prepayment and the Second Amendment Effective Date Tranche B Prepayment, the Collateral Agent and the Lenders agreed to, among other things, (1) increase the amount of the working capital facility established in connection with the Company’s Second Amended and Restated Vifor License Agreement with Vifor (International) Ltd. ("Vifor"), which facility is part of the definition of Permitted Indebtedness under the Loan Agreement, as such term is defined in the Loan Agreement, that the Company is permitted to repay to Vifor without causing an acceleration of the liabilities under the Loan Agreement, (2) waive the requirement that the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ending June 30, 2022 and September 30, 2022 not be subject to any qualification as to going concern, and (3) waive certain payments payable under the Loan Agreement in connection with the Second Amendment Effective Date Tranche B Prepayment.

The foregoing description of the Second Amendment and Waiver does not purport to be complete, and is qualified in its entirety by reference to the Second Amendment and Waiver, a copy of which the Company expects to file with its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.

Orion Half-Year Financial Report 1−6/2022

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