Biogen to Participate in the 5th Annual Evercore ISI HealthCONx Conference

On November 17, 2022 Biogen Inc. (Nasdaq: BIIB) reported that Michael McDonnell, Chief Financial Officer, and Priya Singhal, M.D., M.P.H., Head of Global Safety and Regulatory Sciences and Interim Head of R&D, will participate in the 5th Annual Evercore ISI HealthCONx Conference (Press release, Biogen, NOV 17, 2022, https://investors.biogen.com/news-releases/news-release-details/biogen-participate-5th-annual-evercore-isi-healthconx-conference [SID1234624244]). The webcast will be live on Thursday, December 1, 2022, at 10:30 a.m. ET. To access the live webcast, please visit the Investors section of Biogen’s website at investors.biogen.com. An archived version of the webcast will be available following the presentation.

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Sermonix Pharmaceuticals Announces Four Abstracts Accepted for Presentation at 2022 San Antonio Breast Cancer Symposium

On November 17, 2022 Sermonix Pharmaceuticals Inc., a privately held biopharmaceutical company developing innovative targeted therapeutics to specifically treat ESR1-mutated metastatic breast and gynecological cancers, reported that it had four abstracts accepted as poster presentations at the 2022 San Antonio Breast Cancer Symposium (SABCS), which will be held Dec. 6-10 at the Henry B. Gonzalez Convention Center in San Antonio (Press release, Sermonix Pharmaceuticals, NOV 17, 2022, View Source [SID1234624243]).

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Two of the posters address the evaluation of circulating tumor DNA (ctDNA) to determine levels of mutant ESR1 in patients who participated in each of Sermonix’s Evaluation of Lasofoxifene in ESR1 Mutations (ELAINE) Phase 2 studies. ELAINE 1 assessed the efficacy and safety of Sermonix’s lead development candidate, oral lasofoxifene, versus the current standard of care, intramuscular fulvestrant, in postmenopausal women with locally advanced or metastatic ER+/HER2- breast cancer (mBC) and an ESR1 mutation. ELAINE 2 evaluated lasofoxifene in combination with the CDK4/6 inhibitor abemaciclib in a heavily pre-treated ESR1 mutation positive patient population.

"We are excited to share details around the impact lasofoxifene, our ESR1 mutation-targeted endocrine therapy, has – alone and in combination – on mutant allele fraction (MAF), and how molecular response relates to clinical outcomes in our two Phase 2 ELAINE studies," said David Portman, M.D., chief executive officer of Sermonix. "We look forward to further exploring the unmet need in ESR1 mutation-positive breast cancer during our upcoming Phase 3 program set to launch in early 2023."

The two other posters address the results of Sermonix’s "ELAINE ESR1 and Quality of Life Survey (EQUALS)," created to help inform practicing oncologists about patients’ understanding of ESR1 mutations and the quality of life of metastatic breast cancer patients. One poster focuses on quality of life, while the other focuses on patient understanding of genomic testing and ESR1 mutations.

Sermonix executives will also be available in the company’s SABCS booth, #307, located on the ground level. Those interested in setting up a meeting should contact Monica Kozlowski at [email protected].

About Lasofoxifene
Lasofoxifene is an investigational targeted endocrine treatment and next-generation nonsteroidal selective estrogen receptor modulator (SERM), which Sermonix licensed globally from Ligand Pharmaceuticals Inc. (NASDAQ: LGND) and has been studied in previous comprehensive Phase 1-3 non-oncology clinical trials in more than 15,000 postmenopausal women worldwide. Lasofoxifene’s bioavailability and activity in mutations of the estrogen receptor could potentially hold promise for patients who have acquired endocrine resistance due to ESR1 mutations, a common finding in the metastatic setting and an area of high unmet medical need. Lasofoxifene’s novel activity in ESR1 mutations was discovered at Duke University and Sermonix has exclusive rights to develop and commercialize the product in this area. Lasofoxifene, a potent, oral SERM could, if approved, play a critical role in the targeted precision medicine treatment of advanced ER+ breast cancer.

MacroGenics Earns $60 Million Milestone with U.S. FDA Approval of Teplizumab

On November 17, 2022 MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative antibody-based therapeutics for the treatment of cancer, reported that the U.S. Food and Drug Administration announced the approval of the Biologics License Application (BLA) for teplizumab, an anti-CD3 monoclonal antibody that was previously developed by MacroGenics (Press release, MacroGenics, NOV 17, 2022, View Source [SID1234624240]). Teplizumab was acquired by Provention Bio, Inc. in May 2018 pursuant to an asset purchase agreement.

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"We are very pleased to see the culmination of years of effort by Provention, MacroGenics, and tireless champions in academia and government, with the achievement of the approval of teplizumab," said Scott Koenig, M.D., Ph.D., President and CEO of MacroGenics. "We applaud this outcome, which represents an advancement for individuals and their families dealing with the risks and consequences of type 1 diabetes."

Under the agreement, Provention is obligated to pay MacroGenics contingent milestone payments totaling $170 million upon the achievement of certain regulatory approval milestones, including $60 million for the approval of a BLA for a first indication in the United States. In addition, Provention is obligated to make contingent milestone payments to MacroGenics totaling $225 million upon the achievement of certain sales milestones as well as a single-digit royalty on net sales of the product.

Based on MacroGenics’ cash, cash equivalents and marketable securities balance as of September 30, 2022, plus projected and anticipated payments from partners, including timely receipt of the milestone payment from Provention, MacroGenics currently anticipates having a cash runway into late 2024.

SynRx Raises $14 Million to Develop Drugs for Solid Tumor Cancers with DNA Damage

On November 17, 2022 SynRx Therapeutics, a Hangzhou biopharma startup, reported that closed a $14 million Series Pre-A financing round to advance its portfolio of five oncology candidates (Press release, SynRx Therapeutics, NOV 17, 2022, View Source [SID1234624234]). The company focuses on solid tumor cancers with homologous recombination deficiency (HRD) – tumors that are unable to repair double-strand breaks (DSBs) in DNA, a condition that ultimately causes cancer . The company’s technology is based on original research from the lab of Founder and Chairman Xiaochun Yu. The round’s investors include Lapam Capital, Fenghua Venture, Westlake Innovation Capital and Long Yield Venture Capital.

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In Latest PARP Probe, FDA Asks Clovis to Limit Rubraca’s Label

On November 17, 2022 Clovis Oncology reported The FDA has requested that the indication of its PARP inhibitor Rubraca (rucaparib) as second-line maintenance therapy in recurrent ovarian cancer, the company revealed in an SEC filing this week (Press release, Clovis Oncology, NOV 17, 2022, View Source [SID1234624232]).

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The proposed changes to Rubraca’s label would limit its use to only patients harboring tumor BRCA mutations.

If the FDA and Clovis do not reach an agreement over the revisions, the Agency will convene a meeting of the Oncologic Drugs Advisory Committee to re-scrutinize the drug. Clovis is currently considering the FDA’s request, according to the SEC filing.

Rubraca is approved for use in patients in complete or partial response to platinum-based chemotherapy and is also indicated for fallopian tube and primary peritoneal cancer.

This indication is responsible for a "substantial portion" of Clovis’ Rubraca revenue, the company indicated in a 10-Q filing posted early this month.

"We would expect that a limiting of our second line maintenance indication could result in a significant impact on our revenue," the company stated.

The FDA made the revision request on Monday when it met with Clovis via teleconference to discuss overall survival data from the company’s Phase III ARIEL3 clinical trial. Findings from ARIEL3 formed the basis for Rubraca’s regulatory green light in 2018. Complete and final data were submitted in September.

If Clovis concedes to the FDA’s request, it would not be the first time that Rubraca has lost an indication. In June, the company voluntarily withdrew its blockbuster drug from the U.S. market as a treatment option for patients with BRCA-mutation ovarian cancer who have received at least two prior lines of chemotherapy, citing concerns about excess mortality risk in this patient population.

At the time, Clovis said this indication "represents a very small portion of the Company’s total sales" in U.S. and Europe.

Still, times have been tough for the Colorado-based biotech. Earlier this month, amid increasing regulatory scrutiny on Rubraca, Clovis signaled it was at risk of bankruptcy. To stay afloat, the company laid off 115 employees.

Putting the Pressure on PARP Inhibitors

Rubraca is only the latest casualty in the FDA’s intensified probe into safety concerns surrounding PARP inhibitors.

In August, AstraZeneca voluntarily withdrew its Lynparza (olaparib) for the treatment of highly pre-treated patients with advanced ovarian cancer bearing BRCA mutations. The decision follows a subgroup analysis of the Phase III trial SOLO3, which found that treated patients were 33% more likely to die than comparators who received standard chemotherapy.

Meanwhile, GlaxoSmithKline also restricted the use of its PARP inhibitor Zejula earlier this month. Following an FDA request, Zejula as a second-line therapy is now only usable in ovarian cancer patients with deleterious or suspected deleterious germline BRCA mutations. The drug retains its first-line indications in epithelial ovarian, fallopian tube or primary peritoneal cancer.