Onxeo reports full year 2022 financial results and provides clinical development updates

On April 24, 2023 Onxeo, a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage Response (DDR) and driver oncogenes, reported its consolidated results for the fiscal year ending December 31, 2022 (Press release, Onxeo, APR 24, 2023, View Source [SID1234630458]).

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Dr. Shefali Agarwal, Chairwoman of the Board of Directors and CEO, stated: "2022 was a pivotal year for our Company, with renewed governance. Thanks to the support of our two main and historical shareholders, Invus and Financière de la Montagne, we were able to refocus our R&D efforts to the United States. A first major step in this direction was the FDA clearance of the initial Investigational New Drug (IND) application for AsiDNATM, our first-in-class drug candidate, last June 30. Since then, we have initiated, in December 2022, a Phase 1b/2 trial for AsiDNATM in combination with Olaparib in recurrent ovarian, breast and metastatic castration-resistant prostate cancer. At the same time, REVOCAN study, Phase 1b/2 study is ongoing, and we observed encouraging activity from the preliminary data highlighting the potential of AsiDNATM for patients with recurrent ovarian cancer who are progressing on an initial treatment with a PARP inhibitor. This study sponsored by Gustave Roussy Cancer Campus continues to enroll patients and we look forward to obtaining additional data. Last but not least, we are finalizing the preclinical development of OX425, our new compound sourced from the PlatON platform, in order to file an IND application in the United States in the second half of 2023.

As the company is actively moving forward its R&D portfolio, the Company has received the necessary financial support, which will allow the extension of the Company’s runway to the second quarter of 2024."

Janux Therapeutics to Participate at Upcoming May 2023 Investor Conferences

On April 24, 2023 Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, reported that Janux management will participate at two upcoming investor conferences and be available for 1×1 meetings (Press release, Janux Therapeutics, APR 24, 2023, View Source [SID1234630455]). Details of the conferences are as follows:

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H.C. Wainwright BioConnect Investor Conference at NASDAQ
Date: Tuesday, May 2
Time: 8am to 5pm ET
Forum: 1×1 meetings
Location: NASDAQ World Headquarters, New York, NY

BofA Securities 2023 Health Care Conference
Dates: Tuesday, May 9 to Thursday, May 11
Forum: 1×1 meetings and corporate presentation
Presentation Time: Wednesday, May 10 at 5pm PT
Location: Encore Hotel, Las Vegas, NV

Janux’s TRACTr and TRACIr Pipeline

JANX008 is a TRACTr that targets EGFR and is being studied in a Phase 1 clinical trial for the treatment of multiple solid cancers including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma. Janux’s first clinical candidate, JANX007, is a TRACTr that targets PSMA and is being investigated in a Phase 1 clinical trial in adult subjects with metastatic castration-resistant prostate cancer (mCRPC). Janux’s TRACIr drug candidate, JANX009, is designed for targeting both the programmed death-ligand 1 (PD-L1) receptor as well as the costimulatory CD28 receptor on T cells and is being investigated in preclinical studies for the treatment of solid tumors. Janux is also applying its proprietary technology to develop a TRACTr designed to target TROP2, a clinically validated anti-tumor target that is overexpressed in various cancer types, such as breast, lung, urothelial, endometrial, ovarian, prostate, pancreatic, gastric, colon, head and neck, and glioma. In addition to named programs, Janux is generating a number of unnamed TRACTr and TRACIr programs for potential future development.

MAIA Biotechnology, Inc. Announces Pricing of Public Offering

On April 24, 2023 MAIA Biotechnology, Inc. (NYSE: MAIA) ("MAIA" or the "Company"), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, reported the pricing of an underwritten public offering of 2,222,200 shares of its common stock at a public offering price of $2.25 per share, for gross proceeds of approximately $5 million, before deducting underwriting discounts and other offering expenses (Press release, MAIA Biotechnology, APR 24, 2023, View Source [SID1234630454]). In addition, MAIA has granted the underwriters a 45-day option to purchase up to an additional 333,300 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.

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The Company intends to use the net proceeds to fund the ongoing clinical trials of THIO, pre-clinical development of second-generation of telomere targeting compounds, and other research and development activities, as well as for working capital and other general corporate purposes.

The offering is expected to close on April 27, 2023, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-runner for the offering.

A registration statement on Form S-1 (File No. 333-269606) relating to the shares being sold was filed with the Securities and Exchange Commission ("SEC") and became effective on April 24, 2023. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at View Source

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

Mallinckrodt to Report Earnings Results for First Quarter 2023

On April 24, 2023 Mallinckrodt plc (NYSE American: MNK), a global specialty pharmaceutical company, reported that it will present first quarter 2023 earnings results for the period ended March 31, 2023, on Tuesday, May 9, 2023 (Press release, Mallinckrodt, APR 24, 2023, View Source [SID1234630453]).

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A conference call for investors will begin at 8:30 a.m. ET. The call can be accessed as follows:

Live Call Participant Registration (including dial-in): https://register.vevent.com/register/BIbe1f9805fe5b4490acd8359f7bdd616d
Audio Only Webcast Link (live and replay):
View Source
At the Mallinckrodt website: https://ir.mallinckrodt.com/

I-Mab Announces First Patient Dosed in Phase 3 Registrational Study of CD47 Antibody Lemzoparlimab in MDS in China

On April 24, 2023 I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, reported that the first patient in a Phase 3 registrational trial (ClinicalTrials.gov Identifier: NCT05709093) in China for patients with higher-risk myelodysplastic syndrome (MDS) has been treated with lemzoparlimab, a novel CD47 antibody, in combination with azacitidine (AZA) (Press release, I-Mab Biopharma, APR 24, 2023, View Source [SID1234630451]).

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The Phase 3 trial is a randomized, controlled, open-label, multi-center study to evaluate the efficacy and safety of lemzoparlimab in combination with AZA versus AZA monotherapy as first-line therapy in subjects with higher-risk MDS. This is the first approved Phase 3 trial for anti-CD47 therapies in mainland China.

"We are excited to have dosed the first patient in the Phase 3 study for lemzoparlimab in higher-risk MDS, a disease with very limited treatment options. This milestone represents a significant step towards addressing the unmet medical needs of MDS patients and underscores our commitment to developing innovative therapies that could make a meaningful difference in their lives," said Dr. Andrew Zhu, President and Acting CEO of I-Mab. "We are hopeful that lemzoparlimab could become the first-to-market CD47-targeting therapy in China, providing a potentially new, safer, and effective treatment option for patients in need."

MDS is a type of hematologic malignancy that mainly affects older adults, causing dysplastic hematopoiesis, cytopenia(s), and risk of acute myeloid leukemia (AML) transformation. The incidence rate of MDS increases with age, especially among those aged 70 and above.

Hypomethylating agents (HMAs) and allogenic stem cell transplant (allo-HSCT) are the current standard of care for higher-risk MDS, but allo-HSCT can be limited by its associated morbidity. HMAs such as AZA and decitabine have been the primary therapies available for higher-risk MDS in mainland China in the past 15 years, but many patients experience leukemic transformation and long-term survival expectations remain discouraging.

About CD47 and Lemzoparlimab

CD47 is a cell surface protein over-expressed in a wide variety of cancers and can act to protect tumors by delivering a "don’t eat me" signal to otherwise tumor-engulfing macrophages. CD47 antibodies block this signal and enable macrophages to attack tumor cells. However, development of CD47 antibodies as a cancer therapy has been hampered by its hematologic side effects, such as severe anemia, caused by natural binding of the CD47 antibody to red blood cells. Scientists at I-Mab discovered a novel CD47 antibody, lemzoparlimab, that is designed to target tumor cells while exerting a minimal untoward effect on red blood cells.

Multiple clinical studies of lemzoparlimab are ongoing to explore indications including myelodysplastic syndrome (MDS), acute myelocytic leukemia (AML), non-Hodgkin’s lymphoma (NHL), and advanced solid tumors in combination with chemotherapy and immune checkpoint inhibitors.

About Myelodysplastic Syndrome

Myelodysplastic syndrome (MDS) is typically a hematologic malignancy of older adults characterized by dysplastic hematopoiesis, cytopenia(s), and risk of acute myeloid leukemia (AML) transformation. In the general population, the incidence rate of MDS in the U.S. and Europe is approximately 4-5 cases per 100,000 people per year. However, among individuals between 70 and 79 years, the incidence rate increases to 26.9 per 100,000 people, and further to 55.4 per 100,000 people among those aged 80 years and older. MDS in Asian population tends to occur at an earlier age and more often have hypocellular bone marrows.

The treatment approach to MDS depends largely on risk stratification of an individual’s disease, most commonly using the Revised International Prognostic Scoring System (IPSS-R), which takes into account peripheral blood cytopenias and bone marrow blast percentage and cytogenetics. The IPSS-R separates MDS into 5 risk categories (very low, low, intermediate, high, very high) with median survival and risk of developing AML worsening from very low-risk to very high-risk disease.