On March 7, 2023 Volastra Therapeutics, a clinical stage cancer biotechnology company focused on exploiting chromosomal instability (CIN), reported completion of the in-license of Amgen’s sovilnesib (AMG650), an oral, first-in-class small molecule inhibitor of KIF18A (Press release, Volastra Therapeutics, MAR 7, 2023, View Source;utm_medium=rss&utm_campaign=volastra-therapeutics-in-licenses-clinical-stage-kif18a-inhibitor-and-secures-60-million-in-series-a-funding-to-further-advance-cancer-focused-pipeline [SID1234628268]). In parallel, the company has closed a $60 million Series A financing.

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Under the terms of the licensing agreement, Volastra receives an exclusive worldwide license (ex-China) to develop and commercialize sovilnesib. In return, Amgen receives an upfront mix of cash and equity, as well as downstream milestones and royalties. The drug is currently in Phase 1 for the treatment of platinum-resistant high-grade serous ovarian cancer, triple-negative breast cancer and other solid tumors with TP53 mutations. The FDA previously granted sovilnesib fast-track designation in platinum-resistant high grade serous ovarian cancer, underscoring the high unmet need in this population.

"We are excited to add sovilnesib to our growing pipeline of CIN-targeted therapeutics which includes our own KIF18A inhibitor, VLS-1488," said Charles Hugh-Jones, Chief Executive Officer at Volastra.

"Our focus is helping patients in critical need of new treatment options," added Scott Drutman MD PhD, Chief Medical Officer. "In-licensing sovilnesib broadens our options to accelerate development of therapies against a promising new target."

The Series A financing round was led by founding investors Polaris Partners and ARCH Venture Partners alongside Eli Lilly and Company. Also participating were Droia Ventures, Catalio Capital Management, Vida Ventures, Cornell University, and Meyers Ventures LLC, an affiliate of Ocean Road Advisors.

In addition to a growing clinical pipeline, Volastra recently announced a multi-year, up to $1.1 billion collaboration with Bristol Myers Squibb to drive drug discovery using CIN-based synthetic lethality approaches to induce tumor cell death. To complement both clinical and discovery efforts Volastra has built a strong partnership with Microsoft to develop artificial intelligence (AI) technologies for the high throughput histopathological identification of CIN.

Volastra will advance clinical development of both sovilnesib and VLS-1488 in 2023.

On March 7, 2023 Nuvo Pharmaceuticals Inc. d/b/a Miravo Healthcare (TSX:MRV; OTCQX:MRVFF) ("Miravo" or the "Company") reported that, at today’s special meeting of shareholders (the "Meeting"), its shareholders ("Shareholders") voted in favour of a special resolution to approve the previously announced plan of arrangement (the "Arrangement") pursuant to which, among other things, Searchlight Pharma Inc. (the "Purchaser") will acquire all of the issued and outstanding shares of the Company (the "Company Shares") in exchange for cash consideration of $1.35 per Company Share, subject to the terms and conditions of an arrangement agreement dated December 22, 2022 (Press release, Nuvo Pharmaceuticals, MAR 7, 2023, View Source [SID1234628267]).

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The Arrangement required approval by: (i) at least two-thirds of the votes cast by Shareholders present in person (virtually) or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders present in person (virtually) or represented by proxy at the Meeting, excluding the votes cast by persons described in items (a) through (d) of Section 8.1(2) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").

Of the votes cast with respect to the Arrangement, an aggregate of 4,160,856 Company Shares were voted in favour of the Arrangement, representing approximately 89.23% of the votes cast on the resolution. In addition, an aggregate of 3,547,374 Company Shares, representing approximately 87.60% of the votes cast on the resolution excluding votes attached to Company Shares held by persons described in items (a) through (d) of Section 8.1(2) of MI 61-101, were voted in favour of the Arrangement.

Completion of the Arrangement remains subject to court approval as well as other customary closing conditions. It is expected that the Company will apply for a final order of the Ontario Superior Court of Justice (Commercial List) approving the Arrangement on March 10, 2023. Assuming that the conditions to closing are satisfied or waived, it is expected that the Arrangement will be completed on or around March 14, 2023. Following completion of the Arrangement, The Company will be de-listed from the TSX and applications will be made for the Company to cease to be a reporting issuer.

Further information about the Arrangement is set forth in the materials prepared by the Company in respect of the Meeting, which were mailed to Shareholders and filed under the Company’s profile on SEDAR at www.sedar.com.

On March 7, 2023 2seventy bio reported presenting its corporate presentation (Presentation, 2seventy bio, MAR 7, 2023, View Source [SID1234628266]).

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On March 7, 2023 Tasly Pharmaceuticals, Inc. (Tasly U.S.), "dedicated to a healthier world," reported that it will participate in the Trade Winds ASEAN Mission and Business Forum March 13-15 in Bangkok, Thailand (Press release, Tasly Pharmaceuticals, MAR 7, 2023, View Source [SID1234628263]).

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The Trade Winds event, organized by the U.S. Commercial Service (part of the U.S. Department of Commerce), is the largest U.S. government-led trade mission and business development forum. It will feature meetings with U.S. commercial diplomats and business representatives from more than 20 Asian countries, as well as opportunities for networking and dialogue.

Tasly U.S., whose vision is "to change the way the world takes and understands medicine," will discuss its development of T89 (Dantonic), which has become the first herbal medicine-derived compound to complete a U.S. Food and Drug Administration Phase III global clinical trial, with promising data.

"Tasly U.S. is positioned to become a world-renowned innovator in pharmaceuticals, biologics, and nutraceuticals," said Dr. He Sun, President and CEO of Tasly Pharmaceuticals, Inc. "We see the upcoming Trade Winds ASEAN Mission and Business Forum in Bangkok as an opportunity to introduce our capabilities, our products in development, and our unique perspective, to leading companies in the ASEAN region."

In addition to presenting and discussing its products, used in the treatment of cardiovascular disease, non-alcoholic fatty liver disease (NAFLD), Tourette Syndrome, and others, Dr. Sun said Tasly U.S. looks forward to discussing business collaboration and drug co-development with other Trade Winds exhibitors and participants.

Trade Winds ASEAN Mission and Business Forum will take place at the Anatara and Avani Riverside Hotel in Bangkok March 13-15 from approximately 8:00 a.m. until 8:30 p.m. each day.

On March 7, 2023 Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, reported the closing of its underwritten public offering of 15,681,818 shares of common stock at a public offering price of $22.00 per share, before underwriting discounts and commissions (Press release, Revolution Medicines, MAR 7, 2023, View Source [SID1234628262]). The shares of common stock issued and sold in the offering include 2,045,454 shares issued upon exercise in full by the underwriters of their option to purchase additional shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Revolution Medicines, were $345.0 million. All shares in the offering were offered by Revolution Medicines.

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J.P. Morgan, TD Cowen, SVB Securities and Guggenheim Securities acted as the joint book-running managers for the offering. UBS Investment Bank acted as lead manager.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (SEC) on March 2, 2021, and automatically became effective upon filing. This offering was made solely by means of a prospectus. A copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected]; Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at [email protected] or by telephone at (833) 297-2926; SVB Securities LLC, 53 State Street, 40th Floor, Boston, MA 02109, Attention: Syndicate Department, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; or: Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-9544, or by email at [email protected]

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.