On October 13, 2022 Odyssey Therapeutics, Inc., a biotechnology company pioneering next generation precision immunomodulators and oncology medicines, reported a $168 million Series B financing (Press release, Odyssey Therapeutics, OCT 13, 2022, View Source [SID1234621988]). This funding, which follows Odyssey’s $218 million Series A announced in December 2021, brings the total capital raised to $386 million. The proceeds will enable Odyssey to advance its portfolio of precision immunomodulators and oncology medicines in support of its mission of developing innovative medicines to treat serious human diseases.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Series B was led by General Catalyst, a leading global venture capital firm and active investor in the healthcare sector. Other new investors participating in the Series B financing include funds and accounts advised by Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates, Inc., GreatPoint Ventures, Catalio Capital Management, Walleye Capital, Alexandria Venture Investments, The Healthcare Innovation Investment Fund LLC, an investment fund associated with SVB Securities LLC, and other institutional investors. The financing also includes participation from all Series A investors including OrbiMed, SR One, Foresite Capital, Logos Capital, Woodline Partners LP, HBM Healthcare Investments, Colt Ventures and Creacion Ventures.

"Odyssey is pioneering next generation therapeutics by marrying a powerful drug discovery engine integrating machine learning, biology, and medicinal and structural chemistry with an exceptional leadership team of proven drug developers. We are pleased to partner with General Catalyst and our world-class syndicate of investors and believe the interest in our immunology and oncology pipeline and capabilities further validates our approach to therapeutic development," said Gary D. Glick, Ph.D., Founder and Chief Executive Officer of Odyssey Therapeutics. "We have made tremendous strides since our launch in 2021, and we value the support as we advance multiple candidates into IND-enabling studies in 2023."

"At General Catalyst, we are committed to investing in companies driving powerful, positive and enduring change, and Odyssey’s unyielding commitment to improving the lives of patients by targeting the underlying causes of serious inflammatory diseases and cancer aligns with our mission," said Elena Viboch, Partner at General Catalyst. "We are confident in Odyssey’s vision, proven leadership and ability to pioneer and develop next generation therapeutics through their integrated platform approach, and we look forward to seeing Odyssey work toward achieving their mission of delivering life-enhancing medicines to patients in need."

"I am delighted to welcome our new Series B investors," said Jeff Leiden, M.D., Ph.D., Chairman of the Odyssey Board. "Their investment along with Odyssey’s unique combination of experienced and talented drug hunters, new technologies and a broad and deep pipeline of novel targets will accelerate our discovery and development of life-enhancing medicines for patients in need."

Odyssey’s immunology and oncology portfolio encompasses eight declared programs initially focused on small molecule and protein therapeutics. In addition, Odyssey is building an industry leading discovery engine that integrates artificial intelligence and machine learning for molecular design; a chemistry platform encompassing proprietary covalent libraries targeting multiple amino acids, molecular glues and natural products; and a functional genomics platform for novel target discovery.

On October 13, 2022 Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, reported preliminary first quarter fiscal year 2023 Vyleesi product sales results (Press release, Palatin Technologies, OCT 13, 2022, View Source [SID1234621987]). Vyleesi is the first and only as-needed treatment approved by the U.S. Food and Drug Administration (FDA) for premenopausal women with acquired, generalized hypoactive sexual desire disorder (HSDD).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are pleased with Vyleesi’s continued quarter over quarter growth on net product revenue and prescriptions dispensed for the quarter ended September 30, 2022," stated Carl Spana, Ph.D., President and CEO of Palatin. "We are especially pleased with our prescription refill rate, which now exceeds 50% of total prescriptions dispensed, and is the top indicator of patient satisfaction with Vyleesi."

Preliminary Vyleesi product sales results for the first fiscal quarter of 2023 ended September 30, 2022:
Net product revenue for prescriptions dispensed increased 20% to $856,000 over the prior quarter;
increased 400% over the comparable quarter in fiscal 2022.
Total prescriptions dispensed increased 17% over the prior quarter;
increased 108% over the comparable quarter in fiscal 2022.
Preliminary Financial Information
The Vyleesi related financial and operating data for the first fiscal quarter of 2023 is preliminary and may change. This preliminary data has been prepared by, and is the responsibility of, Palatin’s management and no independent accounting firm has audited, reviewed, compiled, or performed any procedures with respect to this preliminary financial data. There can be no assurance that Palatin’s actual results for this quarterly period will not differ from the preliminary financial and operating data and such changes could be material. In addition, Palatin’s estimate of Vyleesi product sales for the quarter ended September 30, 2022 should not be viewed as a substitute for full financial statements prepared in accordance with U.S. generally accepted accounting standards. Additional information that will be material to investors will be provided in the financial statements for the three months ended September 30, 2022, and, accordingly, investors should not place undue reliance on the limited preliminary information being provided herein.

About Vyleesi (bremelanotide injection) for Hypoactive Sexual Desire Disorder (HSDD)
Vyleesi is the first and only as-needed treatment approved by the FDA for premenopausal women with acquired, generalized HSDD. Palatin is actively seeking Vyleesi collaborations for the United States and for territories outside the currently licensed territories of China and Korea. Vyleesi is licensed to Fosun Pharma in China and Kwangdong Pharmaceuticals in South Korea. Patients and healthcare providers can learn more about HSDD and Vyleesi at www.vyleesi.com and www.vyleesipro.com.

On October 13, 2022 XBiotech (NASDAQ: XBIT) reported the enrollment of the first patient in a multicenter, randomized clinical study for Natrunix in combination with trifluridine/tipiracil for the treatment of colorectal cancer (Press release, XBiotech, OCT 13, 2022, View Source [SID1234621986]). The much anticipated clinical study for XBiotech’s candidate cancer treatment is being funded by the French National Cancer Institute (INCA). The study is headed by renown oncologists Dr. François Ghiringhelli and Dr. Come Lepage, Professor in Medical Oncology and Director of the INSERM research team at the Georges-Francois Leclerc Cancer Centre, and Professor at the Department of Gastroenterology and Digestive Oncology, University Hospital Dijon, Dijon, France, respectively.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Investigators are combining XBiotech’s Natrunix with trifluridine/tipiracil as a new candidate therapy for metastatic colorectal cancer. Subjects receiving the experimental therapy have failed earlier treatment with oxaliplatin, irinotecan, and fluoropyrimidine. Subjects are randomized to receive Natrunix plus trifluridine/tipiracil chemotherapy or placebo plus the chemotherapy. The study is designed to seamlessly proceed through Phase III development based on achievement of certain efficacy milestones in the Phase I/II portions.

Natrunix is a therapeutic monoclonal antibody discovered, manufactured, and undergoing clinical development by XBiotech. The antibody blocks the activity of substance produced by tumors and inflammatory cells that stimulates new blood vessel formation and breaks down connective tissue at the site of the tumor, allowing tumors to grow and spread. The same substance also activates blood vessels, making them sticky to enhance migration of circulating tumor cells to new sites of metastasis. Natrunix potently blocks the action of the substance, known as IL-1, which is also produced in response to chemotherapy.

Colorectal cancer is one of the most common forms of cancer in Europe and the United States, with the American Cancer Society’s estimating over 151,000 new cases and over 52,000 deaths annually in the United States alone.

About True Human Therapeutic Antibodies
XBiotech’s True Human antibodies are derived without modification from individuals who possess natural immunity to certain diseases. With discovery and clinical programs across multiple disease areas, XBiotech’s True Human antibodies have the potential to harness the body’s natural immunity to fight disease with increased safety, efficacy and tolerability.

On October 13, 2022 Celdara Medical, LLC reported that the National Cancer Institute (NCI) of the National Institutes of Health (NIH) has awarded a Phase II Small Business Innovation Research (SBIR) Fast-Track grant to fund company’s ongoing development of CM-CX1, a chimeric antigen receptor (CAR) T cell therapy for the treatment of ovarian clear cell and renal cell carcinomas (Press release, Celdara Medical, OCT 13, 2022, View Source [SID1234621985]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Dr. Jake Reder, Co-founder and Chief Executive Officer of Celdara Medical, remarked, "We’re very grateful to the NCI for their continued support of this program. As the field begins to see the potential of CAR-T in solid tumors realized, the fundamental importance of target selection comes once again into focus. We’re working hard to bring CM-CX1 to the clinical for the benefit of patients with renal cell or ovarian clear cell carcinomas, or indeed for any patient whose tumor expresses CM-CX1’s target."

"I have been working closely with our industry and academic partners to identify ideal targets for cellular therapies and we have created something unique with CM-CX1", said Dr. Joana Murad Mabaera, Executive Director of Research at Celdara Medical and lead Principal Investigator on the study. "We have made significant progress in Phase I towards the preclinical development of CM-CX1. The Phase II funding will enable the submission of our Investigational New Drug (IND) application to bring CM-CX1 to clinic. With CM-CX1, we have an exciting opportunity to translate our promising research and make this therapeutic option accessible to patients of ovarian and renal carcinomas."

Research reported in this press release is supported by the National Cancer Institute of the National Institutes of Health under award number R44CA265424-02. The content is solely the responsibility of Celdara Medical and does not necessarily represent the official views of the National Institutes of Health.

On October 13, 2022 JSR Corporation (Representative Director, CEO: Eric Johnson, "JSR") reported that it has signed a Share Purchase Agreement to acquire the 60% of shares held by PERI Corporation ("PERI") and make JSR Electronic Materials Korea Co., Ltd. ("JEMK") a wholly owned subsidiary of JSR (Press release, JSR, OCT 13, 2022, View Source [SID1234621984]). JEMK is a joint venture between PERI and JSR, which is the sales agent/distributor of its Electronic Materials business in Korea.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

JEMK was established in 2014 and has contributed the growth and expansion of JSR’s electronic materials business in Korea. With the current progress, and full-fledged development of cutting-edge technologies at customers, including the metal oxide resist of Inpria Corporation acquired in October 2021, it becomes increasingly important for JSR to promote businesses in closer relationships with customers. Given this environment, JSR decided to make JEMK a wholly-owned subsidiary and promote greater customer satisfaction and faster service delivery through integrated group management. Going forward, JSR will collaborate with JSR Micro Korea Co., Ltd. to strengthen critical functions such as research and development.

By making JEMK a wholly owned subsidiary, JSR will further strengthen the global collaboration of its semiconductor materials business and build a system that enables solutions quickly and smoothly, which will lead to further customer and product portfolio expansion.