SQZ Biotechnologies Reports Full Year 2022 Financial Results and Recent Portfolio Updates

On March 22, 2023 SQZ Biotechnologies Company (NYSE: SQZ), focused on unlocking the full potential of cell therapies, reported full year 2022 financial results and recent portfolio updates (Press release, SQZ Biotech, MAR 22, 2023, View Source [SID1234629205]).

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"The team is focused on our key initiatives of advancing our SQZ eAPC and SQZ AAC programs," said Howard Bernstein, M.D., Ph.D., Interim Chief Executive Officer and Member of the Board of Directors. "After the restructuring in December, we made important changes to align our talent to fully support our clinical development efforts—we are now primed to deliver on multiple clinical milestones over the next 12 months. We are encouraged by the observation of a confirmed complete response in the first patient in the lowest-dose cohort our AAC trial and have therefore decided to continue the AAC trial. We remain focused on optimizing the potential of our eAPC and AAC platforms to meet the significant unmet medical needs of patients with HPV16+ tumors. We look forward to data from both these programs later in the year."

2022 Full Year and Recent Portfolio Updates

Clinical Programs:
SQZ Enhanced Antigen Presenting Cell ("eAPC") Platform in Oncology

Received FDA fast track designation for the treatment of HPV16+ tumors
Stable disease observed in two out of four evaluable patients in eAPC Phase 1/2 trial including a pronounced pharmacodynamic response in a patient with prolonged stable disease
Interim results from the ongoing SQZ eAPC Phase 1/2 trial showed favorable safety data and the investigational therapy was generally well tolerated
Strong enrollment rate on track to report clinical data for the highest-dose monotherapy cohort in the middle of 2023
SQZ Activating Antigen Carriers ("AAC") Platform in Oncology

A confirmed complete response (CR), by RECIST 1.1 criteria, was observed in the first patient in the lowest-dose cohort of the SQZ-AAC-HPV-101 Phase 1 clinical trial for HPV16+ solid tumors
In light of the response, the company has decided to continue to enroll patients in the SQZ-AAC-HPV-101 clinical trial; Two additional patients have been dosed in the lowest-dose cohort and the dose-limiting toxicity (DLT) period has been completed
The recommendation of the Study Safety Committee is for the company to move directly to enrolling patients in the highest-dose cohort
Initial clinical data from the highest-dose cohort is anticipated in the fourth quarter of 2023
Published comprehensive preclinical research in Frontiers in Immunology
Earlier Stage Programs:

The company will continue to explore partnerships and collaborations for its earlier stage assets and programs, including SQZ Tolerizing Antigen Carriers ("TAC") Platform in Immune Tolerance
2022 Full Year Financial Highlights

Revenue for the year ended December 31, 2022, was $21.5 million compared to $27.1 million for the year ended December 31, 2021
Research and development expenses for the year ended December 31, 2022, were $71.0 million compared to $70.1 million for the year ended December 31, 2021
General and administrative expenses for the year ended December 31, 2022, were $26.3 million compared to $25.7 million for the year ended December 31, 2021
Restructuring charges for the year ended December 31, 2022, were $4.9 million, primarily composed of $4.1 million in one-time termination benefits payable to employees included in the 60% workforce reduction, and $0.8 million in non-cash restructuring charges.
Net loss for the year ended December 31, 2022, was $79.5 million, compared to $68.7 million for the year ended December 31, 2021
As of December 31, 2022, the Company had cash and cash equivalents of $63.7 million and anticipates this will be sufficient to fund operating expenses and capital expenditure requirements into 2024
An updated investor presentation is available on the Events & Presentations page within the investor relations section of the company’s corporate website, investors.sqzbiotech.com. Based on guidance from the SEC, investors should note that the company may utilize its corporate website to post updated corporate and scientific presentations. It is possible that the information posted there could be deemed to be material information.

Incyte Announces FDA Approval of Zynyz™ (retifanlimab-dlwr) for the Treatment of Metastatic or Recurrent Locally Advanced Merkel Cell Carcinoma (MCC)

On March 22, 2023 Incyte (Nasdaq:INCY) reported that the U.S. Food and Drug Administration (FDA) has approved Zynyz (retifanlimab-dlwr), a humanized monoclonal antibody targeting programmed death receptor-1 (PD-1), for the treatment of adults with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC) (Press release, Incyte, MAR 22, 2023, View Source [SID1234629204]). The Biologics License Application (BLA) for Zynyz for this indication has been approved under accelerated approval by the U.S. FDA based on tumor response rate and duration of response (DOR). Continued approval of Zynyz for this indication may be contingent on verification and description of clinical benefit in confirmatory trials.

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"More than a third of patients with MCC present with regional or distant metastases, which are associated with high rates of mortality"

MCC is a rare and aggressive type of skin cancer that frequently appears as a single, painless, reddish-purple skin nodule on the head, neck and arms in skin exposed to sunlight1. MCC tends to grow quickly and has a high rate of metastatic disease, leading to a poor prognosis2,3. The estimated five-year overall survival (OS) rate is 14% in patients with MCC who present with distant metastatic disease3. MCC impacts less than 1 per 100,000 people in the U.S., but incidence rates are rapidly rising, especially in adults over the age of 654,5.

"More than a third of patients with MCC present with regional or distant metastases, which are associated with high rates of mortality," said Dr. Shailender Bhatia, University of Washington and Fred Hutchinson Cancer Center. "The approval of Zynyz offers healthcare providers another first-line treatment option against MCC that can result in durable responses in patients with metastatic disease, and I look forward to having Zynyz in our treatment portfolio for these difficult-to-treat patients."

The FDA approval was based on data from the POD1UM-201 trial, an open-label, multiregional, single-arm study that evaluated Zynyz in adults with metastatic or recurrent locally advanced MCC who had not received prior systemic therapy for their advanced disease. Among chemotherapy-naïve patients (n=65), Zynyz monotherapy resulted in an objective response rate (ORR) of 52% (95% confidence interval [CI]: 40-65) as determined by independent central review (ICR) using RECIST v1.1. Complete response was seen in 12 patients (18%), and 22 patients (34%) showed partial response. Among the responding patients, the duration of response (DOR) ranged from 1.1 to 24.9+ months, and 76% (26/34) experienced a DOR of six months or longer, and 62% (21/34) experienced a DOR of 12 months or longer by landmark analysis.

Serious adverse reactions occurred in 22% of patients receiving Zynyz. The most frequent serious adverse reactions (≥ 2% of patients) were fatigue, arrhythmia and pneumonitis. Permanent discontinuation of Zynyz due to an adverse reaction occurred in 11% of patients. The most common (≥10%) adverse reactions that occurred in patients receiving Zynyz were fatigue, musculoskeletal pain, pruritus, diarrhea, rash, pyrexia and nausea.

"Zynyz offers patients and healthcare professionals an additional first-line anti-PD-1 option for patients with metastatic or recurrent locally advanced MCC, which can be a challenging and aggressive disease to treat," said Hervé Hoppenot, Chief Executive Officer, Incyte. "Incyte is grateful to the investigators and patients around the world who participated in the POD1UM-201 trial. We continue to study the potential of Zynyz in additional tumor types and in combination with other Incyte pipeline compounds."

Incyte is committed to supporting patients and removing barriers to access medicines. Eligible patients in the U.S. who are prescribed Zynyz have access to IncyteCARES (Connecting to Access, Reimbursement, Education and Support), a comprehensive program offering personalized patient support, including financial assistance and ongoing education and additional resources. More information about IncyteCARES is available by visiting www.incytecares.com or calling 1-855-452-5234.

About POD1UM

The POD1UM (PD1 Clinical Program in Multiple Malignancies) clinical trial program for retifanlimab includes POD1UM-201 and several other Phase 1, 2 and 3 studies for patients with solid tumors, including registration-directed POD1UM trials evaluating retifanlimab as a monotherapy for patients with microsatellite instability-high endometrial cancer and squamous cell carcinoma of the anal canal (SCAC); and in combination with platinum-based chemotherapy for patients with non-small cell lung cancer and SCAC.

About POD1UM-201

POD1UM-201 (NCT03599713) is an open label, multiregional, single arm study evaluating retifanlimab in patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC) who had not received prior systemic therapy for their advanced disease.

Patients received Zynyz 500 mg intravenously every four weeks until disease progression, unacceptable toxicity, for up to 24 months. Tumor response assessments were performed every eight weeks for the first year of therapy and 12 weeks thereafter.

The primary endpoint was objective response rate (ORR) as determined by independent central radiographic review using RECIST v1.1. Secondary endpoints included duration of response (DOR), disease control rate (DCR), progression-free survival (PFS) and overall survival (OS); safety and pharmacokinetics.

For more information about the study, please visit: View Source

About Zynyz (retifanlimab-dlwr)

Zynyz (retifanlimab-dlwr), is an intravenous PD-1 inhibitor indicated in the U.S. for the treatment of adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC). This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

Zynyz is marketed by Incyte in the U.S. In 2017, Incyte entered into an exclusive collaboration and license agreement with MacroGenics, Inc. for global rights to retifanlimab.

Zynyz is a trademark of Incyte.

Important Safety Information

What is the most important information I should know about ZYNYZ?

ZYNYZ is a medicine that may treat a certain type of skin cancer by working with your immune system. ZYNYZ can cause your immune system to attack normal organs and tissues in any area of your body and can affect the way they work. These problems can sometimes become severe or life-threatening and can lead to death. You can have more than one of these problems at the same time. These problems may happen anytime during treatment or even after your treatment has ended.

Call or see your healthcare provider right away if you develop any new or worsening signs or symptoms, including:

Lung problems: cough, shortness of breath, chest pain

Intestinal problems: diarrhea (loose stools) or more frequent bowel movements than usual; stools that are black, tarry, sticky, or have blood or mucus; severe stomach-area (abdomen) pain or tenderness

Liver problems: yellowing of your skin or the whites of your eyes; severe nausea or vomiting; pain on the right side of your stomach area (abdomen); dark urine (tea colored); bleeding or bruising more easily than normal

Hormone gland problems: headaches that will not go away or unusual headaches; eye sensitivity to light; eye problems; rapid heartbeat; increased sweating; extreme tiredness; weight gain or weight loss; feeling more hungry or thirsty than usual; urinating more often than usual; hair loss; feeling cold; constipation; your voice gets deeper; dizziness or fainting; changes in mood or behavior, such as decreased sex drive, irritability, or forgetfulness

Kidney problems: decrease in your amount of urine, blood in your urine, swelling of your ankles, loss of appetite

Skin problems: rash; itching; skin blistering or peeling; painful sores or ulcers in your mouth or nose, throat, or genital area; fever or flu-like symptoms; swollen lymph nodes

Problems can also happen in other organs and tissues. These are not all of the signs and symptoms of immune system problems that can happen with ZYNYZ. Call or see your healthcare provider right away for any new or worsening signs or symptoms, which may include:

chest pain, irregular heartbeat, shortness of breath, or swelling of ankles
confusion, sleepiness, memory problems, changes in mood or behavior, stiff neck, balance problems, tingling or numbness of the arms or legs
double vision, blurry vision, sensitivity to light, eye pain, changes in eyesight
persistent or severe muscle pain or weakness, muscle cramps
low red blood cells, bruising
Infusion reactions that can sometimes be severe. Signs and symptoms of infusion reactions may include: chills or shaking, itching or rash, flushing, shortness of breath or wheezing, dizziness, feel like passing out, fever, back or neck pain

Rejection of a transplanted organ. Your healthcare provider should tell you what signs and symptoms you should report and monitor you, depending on the type of organ transplant that you have had.

Complications, including graft-versus-host disease, in people who have received a bone marrow (stem cell) transplant that uses donor stem cells (allogeneic). These complications can be serious and can lead to death. These complications may happen if you underwent transplantation either before or after being treated with ZYNYZ. Your healthcare provider will monitor you for these complications.

Getting medical treatment right away may help keep these problems from becoming more serious. Your healthcare provider will check you for these problems during your treatment with ZYNYZ. Your healthcare provider may treat you with corticosteroid or hormone replacement medicines. Your healthcare provider may also need to delay or completely stop treatment with ZYNYZ if you have severe side effects.

Before you receive ZYNYZ, tell your healthcare provider about all of your medical conditions, including if you:

have immune system problems such as Crohn’s disease, ulcerative colitis, or lupus
have received an organ transplant
have received or plan to receive a stem cell transplant that uses donor stem cells (allogeneic)
have received radiation treatment to your chest area
have a condition that affects your nervous system, such as myasthenia gravis or Guillain-Barré syndrome
are pregnant or plan to become pregnant. ZYNYZ can harm your unborn baby.
Females who are able to become pregnant:
— Your healthcare provider should do a pregnancy test before you start treatment with ZYNYZ.
— You should use an effective method of birth control during your treatment and for 4 months after your last dose of ZYNYZ. Talk to your healthcare provider about birth control methods that you can use during this time.
— Tell your healthcare provider right away if you become pregnant or think you may be pregnant during treatment with ZYNYZ.
are breastfeeding or plan to breastfeed. It is not known if ZYNYZ passes into your breast milk. Do not breastfeed during treatment and for 4 months after your last dose of ZYNYZ.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

The most common side effects of ZYNYZ include tiredness, muscle and bone pain, itching, diarrhea, rash, fever, nausea

These are not all the possible side effects of ZYNYZ. Call your doctor for medical advice about side effects.

General information about the safe and effective use of ZYNYZ.

Medicines are sometimes prescribed for purposes other than those listed in a Medication Guide. If you would like more information about ZYNYZ, talk with your healthcare provider. You can ask your healthcare provider for information about ZYNYZ that is written for health professionals.

You may report side effects to the FDA at (800) FDA-1088 or View Source You may also report side effects to Incyte Corporation at 1-855-463-3463.

Please see the full Prescribing Information for ZYNYZ for additional Important Safety Information.

EpiBiologics Launches with $50 million Series A Financing to Advance Next-Generation Protein Degradation Platform

On March 22, 2023 EpiBiologics, a biotechnology company building a next-generation antibody-based protein degradation platform for membrane and extracellular drug targets, reported with $50 million in Series A funding (Press release, EpiBiologics, MAR 22, 2023, View Source [SID1234629202]). The funding was co-led by Mubadala Capital and Polaris Partners, with participation from Vivo Capital and GV. The company’s technology platform is based on the scientific work of EpiBiologics’ co-founder and renowned antibody engineer Dr. Jim Wells of the University of California, San Francisco (UCSF), and the platform intellectual property has been exclusively licensed from UCSF.

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Since launching the company, the team at EpiBiologics has been able to further validate and industrialize the EpiTAC platform, creating a fit-for-purpose atlas of degraders.

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Protein degradation technologies are of high interest to the medical community because of their potential to attack disease targets that have been historically difficult to drug. However, companies pursuing these approaches have focused primarily on intracellular proteins. EpiBiologics’ proprietary EpiTAC platform expands the targeted protein degradation landscape to the extracellular space, enabling the company to target both membrane proteins and secreted proteins through the use of genetically encoded bifunctional antibodies. As reported in Nature Biotechnology and the Journal of the American Chemical Society, the Wells Lab at UCSF demonstrated that membrane E3 ligases and cytokine receptors could be leveraged as cell surface ligands to internalize and degrade a number of membrane or extracellular drug targets. EpiBiologics has now expanded the platform and built an atlas of tissue-specific degrader antibodies to target proteins for new treatments for a range of diseases, including cancer, immunology and neuro-related conditions.

"Our vision has been to build EpiBiologics to be the leading company in the extracellular degradation space," said Dr. Rami Hannoush, co-founder, interim CEO and President of EpiBiologics, who has also served as Chief Scientific Officer of the company since its inception. "Since launching the company, the team at EpiBiologics has been able to further validate and industrialize the EpiTAC platform, creating a fit-for-purpose atlas of degraders. The current financing will enable us to expand and validate the platform, advance our pipeline of drug candidates, and further build our talented team of scientists and protein engineers."

To strengthen their leadership and support their expansion, EpiBiologics also announced the appointment of Shyra Gardai as its incoming Chief Scientific Officer. With over 20 years of scientific and pre-clinical drug development experience across multiple key therapeutic areas, Dr. Gardai has served in roles of increasing responsibilities in the biotechnology industry, including most recently as Vice President of Therapeutic Discovery Research at Seagen.

"I’m looking forward to working with the talented team at EpiBiologics to develop innovative therapeutics for hard-to-treat diseases," said Dr. Gardai, CSO of EpiBiologics. "Leveraging EpiBiologics’ technology platform we are taking a novel approach to degrade disease-causing targets that evade existing therapeutic approaches."

"EpiBiologics represents a key example of our company formation efforts, where we worked hand-in-hand with the founding scientists to build the company from the ground up. We have a strong conviction in the transformative potential of EpiBiologics to advance the field of protein degradation," said Alaa Halawa, Executive Director and Head of the U.S. Ventures business at Mubadala Capital.

"We believe EpiBiologics’ core technology has the potential to greatly expand the scope of therapeutically relevant targets that can be successfully drugged through degradation, and we are excited to support their growing team of talented scientists, drug developers and industry leaders," said Alexandra Cantley, Partner at Polaris Partners.

Morphimmune Appoints Dr. Clay Siegall Chief Executive Officer and President

On March 22, 2023 Morphimmune, Inc., a preclinical biotechnology company focused on developing targeted oncology therapeutics, reported the appointment of Clay Siegall, Ph.D. as its CEO and President (Press release, MorphImmune, MAR 22, 2023, View Source [SID1234629201]).

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"Clay is a highly passionate and effective leader with a demonstrated ability to build significant value for an emerging biotechnology company," said Isaac Barchas, Morphimmune’s Founding Board Chairman, co-founder and CEO of Research Bridge Partners, which made seed capital and follow-on investments in the company in 2020. "His emphasis on scientific and clinical excellence will drive Morphimmune’s development of novel targeted therapeutics with the goal to deliver significant benefit to cancer patients."

"I am pleased to join Morphimmune as CEO," said Dr. Siegall. "Morphimmune’s targeted effector platform has the potential to deliver the next generation of oncology therapeutics. I look forward to advancing the company’s pipeline into the clinic while expanding its technology suite."

"Clay immediately understood the vision for Morphimmune and is the right leader to advance our goal of saving patient lives," said Dr. Philip Low, Morphimmune co-founder.

Dr. Siegall previously served as the CEO and President of Seagen, Inc., which he co-founded in July 1997. Under his nearly 25 years of leadership, Seagen became the world leader in ADC therapeutics, earned FDA approvals for four cancer therapies, and grew to over $2 billion in annual revenue. During his tenure, he raised well over $1 billion of financing for Seagen from public and private markets and oversaw the company’s acquisition of Cascadian Therapeutics. Earlier this month, Pfizer, Inc. agreed to purchase Seagen for $43 billion.

Prior to Seagen, Dr. Siegall worked in positions of increasing responsibilities at Bristol Myers Squibb and the National Cancer Institute. He earned a Ph.D. in Genetics at George Washington University and a B.S. in Zoology at the University of Maryland.

Morphimmune was founded on the research of the company’s scientific co-founder Dr. Low, the Presidential Scholar for Drug Discovery and Ralph C. Corley Distinguished Professor of Chemistry at Purdue University. Dr. Low previously founded Endocyte, which Novartis acquired for $2.1 billion in 2018. He has published more than 500 articles and has over 700 patents/patents pending, in addition to being the founder of seven companies to commercialize these discoveries.

InvoX Pharma’s F-star Announces Licence Agreement With Takeda for Second Novel Next-Generation Immuno-Oncology Bispecific Antibody

On March 22, 2023 InvoX Pharma Limited ("invoX"), a U.K.-based wholly-owned subsidiary of Sino Biopharmaceutical Limited ("Sino Biopharm") (HKEX 1177 HK) with an advancing pipeline of innovative products, reported that F-star, an invoX company, has entered into a second licence agreement with Takeda for a novel next-generation immuno-oncology bispecific antibody (Press release, , MAR 22, 2023, View Source [SID1234629199]).

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Under the terms of the licence agreement, F-star will grant Takeda a worldwide, exclusive royalty-bearing licence to research, develop, and commercialize a bispecific antibody directed towards an undisclosed immuno-oncology target using F-star’s proprietary Fcab and mAb2 platforms. Takeda will be responsible for all research, development and commercialisation activities under the agreement. F-star will receive an undisclosed upfront licence fee and is eligible to receive potential future development and commercialization milestone payments, plus royalties on annual net sales.

This licence agreement represents the second option that Takeda has exercised under an evaluation and licence agreement with F-star that was entered into in July 2021. F-star and Takeda entered into a licence agreement for a different bispecific antibody in July 2022.

Neil Brewis, Ph.D., Chief Executive Officer of F-star said: "This second licence agreement with Takeda provides further validation of the enormous potential of F-star’s mAb2 platform to produce multiple next-generation bispecific antibody therapeutics. We look forward to our continued partnership with Takeda who share our vision of developing pioneering bispecifics in immunotherapy so more people with cancer can live longer and improved lives."

"Takeda is committed to developing novel therapies that harness the innate immune system to fight cancer," said Kathy Seidl, Ph.D., head of the Oncology Drug Discovery Unit at Takeda. "This second license agreement with F-star allows us to apply the mAb2 platform to generate novel bispecific antibodies leveraging innate immune mechanisms to eliminate tumor cells creating value for the patients we serve."