Adcendo ApS Announces Extension of Series A Financing to 82M EUR to Ensure Broad Development of its First-in-class ADC Pipeline

On April 4, 2023 Adcendo ApS ("Adcendo"), a biotech company focused on the development of breakthrough antibody-drug conjugates (ADCs) for the treatment of cancers with a high unmet medical need, reported the successful completion of a Series A extension financing, raising a further 31 million EUR, following the 51 million EUR Series A financing in April 2021 (Press release, ADCendo, APR 4, 2023, View Source [SID1234629822]). The financing was led by Pontifax Venture Capital, a leading healthcare-focused venture capital firm and existing investors Novo Holdings and Ysios Capital. Current investors RA Capital Management, HealthCap and Gilde Healthcare participated as well. As part of the investment, Ohad Hammer, partner at Pontifax Venture Capital, will join the Adcendo Board of Directors.

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!

uPARAP is a novel cancer target overexpressed on the cell surface of sarcoma and other mesenchymal cancers. The intriguing expression profile and internalizing properties of uPARAP make it a highly attractive ADC target. uPARAP ADC has shown potential to be effective across multiple sarcoma subtypes, an indication with a very high unmet medical need.

Adcendo intends to use the proceeds from the financing to initiate a broad clinical development program for uPARAP ADC in Sarcoma and is also planning to advance the development of its 2nd ADC pipeline asset with Development Candidate Nomination (DCN) planned in H1 2024.

Michael Pehl, Chief Executive Officer of Adcendo, said: "This financing underscores the confidence that our investors have in Adcendo’s capabilities and potential to develop innovative ADC cancer therapies in high unmet medical need cancers. We are pleased to welcome Ohad Hammer to the Adcendo Board of Directors, who brings a wealth of experience in supporting and advancing early-stage biotech companies. 2022 was a pivotal year for Adcendo with the expansion of our team, uPARAP ADC Development Candidate Nomination and the recent linker/payload license agreement with Duality Biologics. This financing will enable us to ensure a broad development program of our lead asset uPARAP and further advance our 2nd first-in-class ADC pipeline asset."

Ohad Hammer, Board Director of Adcendo and Partner at Pontifax Venture Capital, commented: "We are excited to support Adcendo’s efforts to bring new treatments to patients with cancer as we continue our focus on seeking exciting transformative technologies to treat substantial unmet medical need indications. Adcendo’s ADC capabilities offer significant potential and I look forward to closely working with the team to develop their pipeline assets and bring innovative therapies to patients in need."

Beactica Therapeutics and Oscotec mutually agree to conclude oncology collaboration

On April 4, 2023 Beactica Therapeutics AB, the Swedish precision oncology company, and Oscotec Inc. (039200: KOSDAQ), the Korean drug development company, reported that they have mutually agreed to terminate their collaboration and licensing agreement (Press release, Beactica, APR 4, 2023, View Source [SID1234629821]). The collaboration focused on research and development of novel anti-cancer drug candidates arising out of Beactica’s LSD1 programme.

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 LSD1 programme includes BEA-17, a first-in-class small molecule targeted degrader of the epigenetic enzyme LSD1 and its co-factor CoREST. The current lead indication for BEA-17 is glioblastoma, an indication that falls outside the scope of Oscotec’s strategic priorities.

As part of the agreement, Beactica Therapeutics will retain full exclusive global rights for further development and commercialization of the LSD1 programme, and gain ownership of all results from the collaboration. No obligations will remain between the companies.

BEA-17 was recently granted Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for the treatment of glioblastoma (GBM).

"We have valued the opportunity to collaborate with Beactica Therapeutics and congratulate them on FDA’s Orphan Drug Designation to BEA-17 for the treatment of glioblastoma," said Dr Taeyoung Yoon, CEO/CSO of Oscotec. "For portfolio reasons, we have now decided to focus on internal assets that are more closely aligned with our strategic objectives."

"We have appreciated the collaboration with Oscotec and are pleased by what we have achieved together. Retaining global rights to the LSD1 programme increases the potential in Beactica and is well aligned with the Company’s ambition to itself become a clinical-stage company," said Dr Per Källblad, CEO of Beactica Therapeutics.

Cantargia to host R&D Day on new clinical results of nadunolimab in pancreatic cancer on April 24, 2023

On April 4, 2023 Cantargia (Cantargia AB; Nasdaq Stockholm: CANTA) reported it will host an R&D Day focusing on new clinical results and biomarker data for its lead asset, the IL1RAP-binding antibody nadunolimab (CAN04), in pancreatic cancer (PDAC) patients, following presentation of these results at the AACR (Free AACR Whitepaper) Annual Meeting 2023 (AACR 2023) (Press release, Cantargia, APR 4, 2023, View Source [SID1234629820]). The R&D Day will be hosted by Cantargia management and Prof. Eric Van Cutsem, principal investigator in the CANFOUR trial.

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!

Cantargia recently announced new results from the phase I/IIa clinical trial CANFOUR, evaluating nadunolimab in combination with chemotherapy for treatment of PDAC, to be presented at AACR (Free AACR Whitepaper) 2023 on April 17, 2023. A key finding is that patients with high tumor levels of IL1RAP, the target of nadunolimab, benefit most from the treatment.

During the R&D Day, Prof. Van Cutsem, Division Head of Digestive Oncology at University of Leuven and University Hospitals Gasthuisberg in Leuven, Belgium, and renowned expert in PDAC, will discuss the current treatment landscape in PDAC and the relevance of the new nadunolimab data. He will be joined by Dr. Dominique Tersago and Dr. David Liberg from Cantargia’s management team.

Event details and registration information

Date and time: April 24, 2023 2:00-3:30 PM CET (8:00-9:30 AM EST).
Venue: Redeye, Mäster Samuelsgatan 42, 10 tr, Stockholm
The event will be conducted in English and a simultaneous live webcast will be available for those unable to attend in person at the following link. The webcast will also be accessible on-demand, shortly after the event, at Cantargia’s website www.cantargia.com. A live question and answer session will follow the formal presentations. Participation in the event on-site requires registration at the following link.

Program

Welcome and introduction to Cantargia – Göran Forsberg, CEO
Nadunolimab mechanism of action – David Liberg, VP Research
Clinical results including new biomarker data of nadunolimab – Dominique Tersago, CMO
Pancreatic cancer and relevance of nadunolimab results – Prof. Eric Van Cutsem
Cantargia’s ongoing clinical trials – Dominique Tersago
Upcoming milestones and concluding remarks – Göran Forsberg
For further information, please contact
Göran Forsberg, CEO
Telephone: +46 (0)46-275 62 60
E-mail: [email protected]

The information was submitted for publication, through the agency of the contact person set out above, at 12.30 CET on 4 April 2023.

Scorpion Therapeutics and Pierre Fabre Announce Collaboration and License Agreement to Co-Develop and Commercialize STX-721 and STX-241 for Patients with EGFR Mutant Non-Small Cell Lung Cancer

On April 4, 2023 Scorpion Therapeutics, Inc. ("Scorpion"), a pioneering oncology company redefining the frontier of precision medicine through its Precision Oncology 2.0 strategy, and Pierre Fabre, a French pharmaceutical and dermo-cosmetic group present in 120 countries, reported an exclusive collaboration and license agreement for the co-development of STX-721 and STX-241, two candidates in Scorpion’s franchise of highly-selective, next-generation mutant epidermal growth factor receptor ("EGFR") inhibitors (Press release, Scorpion Therapeutics, APR 4, 2023, View Source [SID1234629819]). Discovered by Scorpion, STX-721 and STX-241 are potentially best-in-class inhibitors of EGFR mutations and potent treatment options for emergent and unmet medical needs in non-small cell lung cancer ("NSCLC"). Under the agreement, Scorpion will lead clinical development of STX-721 and Pierre Fabre will lead clinical development of STX-241. Scorpion will retain commercialization rights to STX-721 and STX-241 in the United States, Canada and Japan, and Pierre Fabre will be responsible for commercialization activities in all other territories, with a focus on Europe and China.

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!

"Our mission is to develop the next generation of transformational therapies and to deliver them to patients worldwide," said Axel Hoos, M.D., Ph.D., Chief Executive Officer of Scorpion. "Pierre Fabre is the ideal partner to accelerate this vision; a global pharmaceutical company with a robust clinical and commercial footprint in Europe and Asia, and a track record of successfully partnering with biotechnology companies to develop and provide access to innovative cancer medicines. This partnership should help to expand the reach of our EGFR targeting programs, allowing us to help patients who urgently need these treatments, including in markets such as China, where nearly 50% percent of all cases of NSCLC are expected to be EGFR-mutant by 2030.1

"We are excited to engage into this co-development collaboration with Scorpion and eager to add STX-721 and STX-241 to our portfolio in oncology. Pierre Fabre has a track-record in developing and commercializing cancer therapies for nearly four decades. We recently focused our R&D efforts on targeted therapies and this partnership with Scorpion embodies this strategic move," said Eric Ducournau, Chief Executive Officer of Pierre Fabre.

NSCLC is the most common sub-type of lung cancer and various EGFR mutations are the most frequent drivers of NSCLC, occurring in approximately 14-38 percent of tumors, depending on geography.2, 3, 4 Scorpion’s franchise of highly selective, next-generation mutant EGFR inhibitors is designed to address several of these activating mutations, with STX-721 targeting EGFR Exon 20 insertion mutants, and STX-241 targeting Exon 19 or 21 mutations with the co-occurring C797S mutation, a known resistance mechanism to 3rd generation EGFR inhibitors.

For NSCLC driven by EGFR Exon 20 insertion mutations, toxicities associated with the inhibition of wild-type EGFR in healthy tissues, such as the skin and gastrointestinal tract, often occur during treatment. These toxicities can lead to dose reductions or interruptions which, in turn, may reduce the overall efficacy of the treatment. STX-721 and STX-241 have been designed to maximize selectivity for the mutant form of the enzyme and to avoid the inhibition of wild-type EGFR in healthy tissues to minimize the occurrence of these toxicities.

Up to 12.5 percent of patients with NSCLC driven by mutations in Exon 19 or 21 who are treated with covalent inhibitors of EGFR in a front-line setting develop secondary resistance mutations at C797S.5 There are currently no approved therapeutic options for the significant number of patients that develop "double mutant" EGFR NSCLC, creating a significant and growing unmet need.

Together, Scorpion’s next-generation EGFR inhibitors may have the potential to address over 90 percent of activating mutations in EGFR-mutant NSCLC, potentially providing improved clinical outcomes to thousands of patients globally.

"Based on their preclinical data, we’ve concluded that STX-721 and STX-241 may present best-in-class product profiles. Further, this partnership will significantly expand our efforts in precision oncology, allowing us to better support the care and treatment of thousands of people globally," added Francesco Hofmann, Head of Research and Development for Medical Care at Pierre Fabre.

Subject to the terms of the agreement, Scorpion will receive a combined $65 million from an upfront payment and the achievement of near-term milestones, and will be eligible to receive up to a total of $553 million in potential milestone payments. In addition, Pierre Fabre will pay Scorpion tiered percentage royalties on a licensed product-by-licensed product basis, ranging from mid-single to mid-teens based on annual net sales of each licensed product in territories excluding the United States, Canada, and Japan. Scorpion will pay Pierre Fabre tiered percentage royalties based on a licensed product-by-licensed product basis, ranging from low-single to low-double digits on annual net sales of each licensed product in the United States. The companies will share global development expenses based on a pre-specified cost-sharing arrangement.

About STX-721
STX-721 is a next-generation, orally delivered small molecule designed with potentially best-in-class selectivity to target Exon 20 insertion mutations in EGFR. Scorpion estimates that NSCLC tumors that express EGFR with Exon 20 insertion mutations have an incidence of approximately 3,400 patients per year in the United States. STX-721 is currently advancing through preclinical studies and Scorpion expects to submit an investigational new drug ("IND") application to the U.S. Food and Drug Administration ("FDA") in the middle of 2023.

About STX-241
STX-241 is a fourth generation, orally delivered, central nervous system ("CNS")-penetrant small molecule designed with potentially best-in-class selectivity to target resistance mutations at C797S. Scorpion estimates that up to 3,000 patients per year in the United States, or up to 12.5 percent of NSCLC patients with Exon 19 or 21 mutations, develop resistance mutations at C797S. STX-241 is currently advancing through preclinical studies, and Scorpion expects to submit an IND to the U.S. FDA in the first half of 2024.

Indivumed Evolves into Indivumed Therapeutics to Focus on Data and AI-Driven Advancement of Precision Oncology

On April 4, 2023 After twenty years as one of the first personalized oncology companies, Indivumed reported its evolution into Indivumed Therapeutics after the acquisition of Indivumed Services GmbH and its CRO service offerings by Crown Bioscience (Press release, Indivumed, APR 4, 2023, View Source [SID1234629818]). Indivumed Therapeutics emerges as an oncology biotech company focused fully on biomarker and therapeutic target discovery and validation, drug development, and clinical trial performance. Indivumed Therapeutics will continue utilizing its global clinical network for biospecimen and clinical data collection to grow its unique multi-omics database using its AI-driven discovery and development platform for novel therapies in oncology.

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!

"Indivumed’s success over the last twenty years has been possible due to our constant focus on highly standardized sample and clinical data collection through a global clinical network. It is amazing to see how our clinically anchored quality approach, combined with AI-empowered data analytics, pays off and drives reliable target discovery with incredible speed. Now, we partner with biotech, pharma and diagnostic companies providing for their development programs a broad range of novel therapeutic targets with a high probability of clinical success. We ourselves will focus on distinct targets for lead compound and diagnostic signature development to directly impact cancer therapy." said Prof. Dr. Hartmut Juhl, CEO and Founder of Indivumed.

Indivumed Therapeutics will accelerate cancer drug development through its AI-driven analysis platform, nRavel, by linking in-silico target discovery and development with matched patient-derived tumor models for downstream target and lead compound validation. The company will drive multi-omics oncology R&D by leveraging its partnerships with leading cancer clinics in Europe, The Americas, and Asia to further expand its database and drive preclinical and clinical development programs.

Indivumed Therapeutics has already identified numerous potential predictive and diagnostic targets and biomarkers of which several have been selected for biological validation and lead compound development. Several patents have already been filed and Indivumed Therapeutics proceeds with the identification process for additional targets and biomarkers. The business focus will be out-licensing of validated targets, lead compounds, and biomarkers at different development stages. All this in close partnerships with academia, biotech, and pharma companies to increase the probability of achieving the ultimate goal of advancing Precision Oncology for the cure of cancer.