QIAGEN and Neuron23 Partner to Develop Next-Generation Sequencing Companion Diagnostic for Novel Parkinson’s Disease Drug

On September 14, 2022 QIAGEN (NYSE:QGEN; Frankfurt Prime Standard: QIA) and Neuron23 Inc., an early stage biotechnology company focused on developing precision medicines for genetically defined neurological and immunological diseases, reported the signing of an agreement to develop a companion diagnostic for Neuron23’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor for Parkinson’s disease (Press release, Qiagen, SEP 14, 2022, View Source [SID1234619552]).

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Under the new Master Collaboration Agreement, QIAGEN will develop and validate a clinical trial assay that will detect a combination of biomarkers discovered by Neuron23 that together predict the responsiveness of Parkinson’s disease to a LRRK2 inhibitor. The partnership will support the clinical development of Neuron23’s drug candidate that is currently in the late stages of preclinical development. Subject to further clinical development, the agreement also covers options for the future development of additional companion diagnostics.

Neuron23 joins a group of more than 25 leading pharmaceutical and biotechnology companies who have reached master collaboration agreements with QIAGEN to develop and commercialize companion diagnostic tests for their drug candidates – a deep pipeline of potential future products to advance precision medicine for the benefit of patients around the world.

The assay for this collaboration will be integrated into a next-generation sequencing (NGS) workflow that leverages QIAGEN’s Sample to Insight capabilities, including instrumentation, IVD sample preparation, library preparation and bioinformatics. The workflow is planned to be developed using the NextSeqTM 500 System as part of the NGS strategic collaboration between QIAGEN and Illumina. Based on Neuron23’s artificial intelligence (AI)-enabled drug discovery and biomarker platform, it will target a complex signature of 50 single nucleic polymorphisms (SNPs) for U.S. and European populations and eventually additional SNPs that are prevalent in Asian populations.

"The collaboration with Neuron23 shows the rapid momentum precision medicine is gaining in disease areas outside oncology," said Jonathan Arnold, Vice President, Head of Oncology and Precision Diagnostics, at QIAGEN. "Our expertise in blood- and NGS-based molecular testing from Sample to Insight will enable Neuron23 to run a clinical trial for a drug candidate that may have the potential to modify the course of an inexorable neurodegenerative disease in a genetically defined population."

"This collaboration combines the leading expertise of Neuron23 in drug discovery, data science, and machine learning with QIAGEN’s long-standing experience and global leadership in companion diagnostic development. QIAGEN’s blood-based test will help to identify patients with Parkinson’s disease who are likely to respond to Neuron23’s LRRK2 inhibitor. The development of a companion diagnostic identifying this sub-population of Parkinson’s disease patients will de-risk the clinical development of Neuron23’s LRRK2 inhibitor and help identify individuals who may benefit from this disease-modifying therapy. We are excited to be working with an industry leader on the first companion diagnostic developed for Parkinson’s disease," said Nancy Stagliano, Ph.D., CEO of Neuron23.

No laboratory tests are currently available for the diagnosis of non-genetic cases for Parkinson’s disease. Usually, the disease is diagnosed based on medical history and neurological examination. Although no cure currently exists for Parkinson’s disease, therapies are used to alleviate some symptoms.

LRRK2 is a complex, multidomain protein found in neurons and many tissues and cell types throughout the body. Mutations in the LRRK2 gene are one of the most common causes of familial Parkinson’s disease and individuals who inherit gain of function mutations in LRRK2 are clearly at higher risk to develop the disease in later life. Additionally, there is emerging evidence that LRRK2 may play a role in a subset of the larger population of patients with non-familial Parkinson’s disease. Recent investigations have shown that small-molecule LRRK2 inhibitors can be neuroprotective, suggesting that therapies targeting LRRK2 could be beneficial in a larger population of patients.

QIAGEN is a pioneer in precision medicine and the global leader in collaborations with pharmaceutical and biotechnology companies to co-develop companion diagnostics, which detect clinically relevant genetic abnormalities to provide insights that guide clinical decision-making in diseases such as cancer. QIAGEN has an unmatched depth and breadth of technologies from NGS to polymerase chain reaction (PCR) and digital PCR (dPCR) for companion diagnostic development. QIAGEN has ten PCR based companion diagnostic indications that are FDA approved, including therascreen EGFR for non-small cell lung cancer (NSCLC), therascreen KRAS for colorectal cancer and NSCLC, therascreen FGFR for urothelial cancer, therascreen PIK3CA for breast cancer based on tissue or plasma samples and the therascreen BRAF kit for colorectal cancer.

OncoNano Medicine Announces Oral Presentation of Phase 2 Study Data at the World Molecular Imaging Congress 2022

On September 14, 2022 OncoNano Medicine, Inc. reported a presentation of data from its ongoing Phase 2 study of pegsitacianine at the World Molecular Imaging Congress (WMIC), occurring September 27 – October 1, 2022 (Press release, OncoNano Medicine, SEP 14, 2022, View Source [SID1234619550]). The presentation will be given during the Cancer: Innovations in Molecular Imaging session.

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Details of the oral presentation are as follows:

Presentation Title: Detection of Residual Peritoneal Metastases following Cytoreductive Surgery, Using the pH-sensitive Micellar Imaging Agent Pegsitacianine: An Interim Review of an Ongoing Phase 2 Study

Presenter: Patrick Wagner, MD, Department of Surgical Oncology, Allegheny Health Network Cancer Institute, Pittsburgh, Pennsylvania

Date/Time: Thursday, September 29, 3:12 – 3:22 PM EST

Kineta CSO Thierry Guillaudeux Invited to Participate at the 2nd Annual VISTA Virtual Symposium

On September 14, 2022 Kineta, Inc. ("Kineta" or the "Company"), a clinical-stage biotechnology company focused on the development of novel immunotherapies in oncology, reported that Thierry Guillaudeux, Ph.D., Kineta’s Chief Scientific Officer, has been invited to present at the 2nd Annual VISTA Symposium. The virtual event will take place on September 23, 2022 (Press release, Kineta, SEP 14, 2022, View Source;utm_medium=rss&utm_campaign=kineta-cso-thierry-guillaudeux-invited-to-participate-at-the-2nd-annual-vista-virtual-symposium [SID1234619549]).

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"I am excited to join leading immuno-oncology experts in discussing the latest advances in anti-VISTA immunotherapies," said Dr. Guillaudeux. "VISTA is an important myeloid checkpoint with a unique mechanism of action bridging innate and adaptive immunity. Anti-VISTA therapies have great potential to improve cancer treatment outcomes in a variety of solid tumors, especially for patients resistant to standard of care therapies including first generation immune checkpoint inhibitors."

Dr. Guillaudeux will join leading researchers and clinicians in immunology to discuss new insights into VISTA, a promising therapeutic target for cancer. The symposium will focus on VISTA’s function and applicability in cancer immunology, as well as the latest research and development in programs targeting VISTA.

Johnson & Johnson Announces $5 Billion Share Repurchase Program

On September 14, 2022 Johnson & Johnson (NYSE: JNJ) reported that the Board of Directors has authorized the repurchase of up to $5 billion of the company’s common stock (Press release, Johnson & Johnson, SEP 14, 2022, View Source [SID1234619548]).

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"The last few years have demonstrated the resilience of Johnson & Johnson. With continued confidence in our business and pipeline, the Board of Directors and management team believe that Company shares are an attractive investment opportunity," said Joaquin Duato, Chief Executive Officer. "With our strong cash flow and lowest level of net debt in five years, we have the ability to invest in innovation, grow our dividend, execute strategic acquisitions, and take this action to deliver shareholder returns and drive long-term growth."

Repurchases may be made at management’s discretion from time to time on the open market or through privately negotiated transactions. The repurchase program has no time limit and may be suspended for periods or discontinued at any time. Any shares acquired will be available for general corporate purposes. The company had approximately 2,629.2 million shares of common stock outstanding as of July 22, 2022. The company does not expect to incur debt to fund the share repurchase program.

Johnson & Johnson reaffirms its full-year 2022 adjusted operational sales growth and earnings per share guidance of 6.5% – 7.5% and $10.65 to $10.75 per share, respectively.

IPA Reports Financial Results and Recent Business Highlights for First Quarter Fiscal Year 2023

On September 14, 2022 IPA (IMMUNOPRECISE ANTIBODIES LTD.) (the "Company" or "IPA") (NASDAQ: IPA) (TSXV: IPA), an advanced biotherapeutic research and technology company, reported financial results for first quarter fiscal year 2023, which ended July 31, 2022 (Press release, ImmunoPrecise Antibodies, SEP 14, 2022, View Source [SID1234619547]).

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"Our biggest surprise this quarter was how rapidly our iterative-feedback AI software platform for antibody discovery advanced toward commercialization," stated Dr. Jennifer Bath, IPA’s Chief Executive Officer. "We are clearly excited about the potential of our most recent acquisition, BioStrand, and look forward to working together to leverage their elegant software and iterative AI platform with IPA’s clinically validated wet lab technologies, to realize the full potential of our capabilities to deliver the next generation of cancer and immunology therapies to modernize all aspects of antibody discovery and development," Dr. Bath continued, "We aim to transform how we discover and develop novel therapeutics as we continue to shorten drug discovery timelines and to design safer, more targeted therapies for patients."

First Quarter Fiscal Year 2023 Financial Summary*

The Company’s total revenue of $4.7 million was an increase of $0.1 million or 2.2% as compared to total revenue of $4.6 million from the same period last year.
The Company, primarily through its subsidiary Talem Therapeutics LLC, invested $5.8 million in strategic research and development costs as compared to an investment of $1.1 million in the same period last year.
The Company recorded a net loss of $9.4 million, as compared to net loss of $3.2 million during the same period last year.
As of July 31, 2022, the Company held cash of $19.2 million.

*Expressed in Canadian dollars, unless otherwise indicated.

Financial Results

Revenue

The Company achieved revenue of $4.7 million during the three months ended July 31, 2022, a 2.2% increase from the three months ended July 31, 2021. Growth was primarily driven by increases in protein manufacturing and cryostorage services. Revenue during the three months ended July 31, 2022, was impacted by the weakening of the euro due to the effect of foreign currency translations. On a consolidated basis, total revenue was negatively impacted by $0.3 million as compared to the three months ended July 31, 2021.

Research & Development

R&D increased to $5.8 million from $1.1 million during the three months ended July 31, 2021, primarily due to strategic investment in the Company’s SARS-CoV-2 PolyTope antibody combination therapy. A total of $5.2 million in costs were incurred for GMP manufacturing of the therapy.

Net Loss

The Company recorded a net loss of $9.4 million during the three months ended July 31, 2022, compared to a net loss of $3.2 million for the three months ended July 31, 2021. The increased net loss is primarily due to the Company’s investment in R&D related to the SARS CoV-2 PolyTope cocktail, increased salaries and benefits to support the Company’s strategic plans, increased amortization from intangible assets recorded in connection with the BioStrand acquisition, and increased consulting fees.

Liquidity and Capital Resources

As of July 31, 2022, the Company held cash of $19.2 million as compared to $30.0 million as of April 30, 2022, and had working capital of $21.7 million. The Company’s internal forecast indicates the cash on hand will sustain its existing operations for at least 12 months.

On October 13, 2021, an at-the-market ("ATM") equity offering facility was entered into with H.C. Wainwright & Co., LLC as sole sales agent ("Agent"). The Company will be entitled, at its discretion and from time-to-time during the term of the ATM agreement, to sell through the Agent common shares of the Company having an aggregate gross sales price of up to US $50 million. As of September 14, 2022, US $50 million of the Company’s stock remained available for sale under the ATM facility.

The conference call will be webcast live and available for replay via a link provided in the Events section of the company’s IR pages at View Source

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization.

Anyone listening to the call is encouraged to read the company’s periodic reports on file with the Toronto Stock Exchange and Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.