On September 6, 2023 Apollo Therapeutics ("Apollo" or "the Company"), a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines through a hub-and-spoke approach, reported the close of $226.5 million in a Series C financing led by lead investor Patient Square Capital (Press release, Apollo Therapeutics, SEP 6, 2023, View Source [SID1234634968]).

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!

$226.5m million raised.
Financing led by Patient Square Capital.
Participation by multiple new investors including M&G plc and two of the largest US public pension plans, along with existing investor Rock Springs Capital.
Financing significantly adds to the $195 million previously raised by the Company.
Apollo’s broad and diversified pipeline currently consists of over 20 programs with multiple near and medium-term value catalysts and uncorrelated risk.
Proceeds will be used to (i) advance pipeline programs through clinical development and further fund Apollo’s drug discovery and development activities based on breakthroughs in basic medical research made at its partner institutions, (ii) licence or acquire additional clinical stage programs that meet strict selection criteria.
Apollo has a scalable R&D platform for the evergreen discovery and development of new medicines. Program selection is agnostic to indication and primarily driven by quality of science and the potential to transform the standard of care in major commercial markets. This is enabled by an unprecedented level of access to world-class research institutions through unique partnership agreements.
Current partner institutions are: The University of Cambridge, Imperial College London, University College London, King’s College London, and The Institute of Cancer Research.
"We are delighted to announce the close of our latest fundraise and wish to thank our existing investors for their continued support, as well as warmly welcoming all the new investors." said Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics. "Apollo has built a broad and diversified pipeline focused on major commercial markets and this latest fund-raising enables us to take our most advanced programs to key clinical value inflection points."

"I have long believed in a business model for drug development characterized by extremely talented management, sufficient capital to pursue multiple programs and world-class science focused on unmet medical need. We are proud to support Apollo Therapeutics as it develops a number of promising medicines that we anticipate will eventually transform patient care." commented Jim Momtazee, Managing Partner of Patient Square Capital, and member of Apollo Therapeutic’s Board of Directors.

On September 6, 2023 Nimbus Therapeutics, LLC ("Nimbus Therapeutics" or "Nimbus"), a clinical-stage company that designs and develops breakthrough medicines through its powerful computational drug discovery engine, reported the closing of a $210 million private financing to advance its next wave of tech-enabled small molecule medicines (Press release, Nimbus Therapeutics, SEP 6, 2023, View Source [SID1234634967]). The round was co-led by new investor GV (Google Ventures) and existing investors SR One and Atlas Venture, with participation from another new investor that is a U.S.-based life sciences-focused fund as well as existing investors Bain Capital Life Sciences, BVF Partners L.P., Gates Frontier, Lightstone Ventures, Pfizer Ventures, RA Capital Management, and SV Health Investors.

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’re proud to have built an R&D organization that is a paradigm of excellence in small molecule drug discovery and development. We embark on this next chapter of our history with the backing of a first-rate investor base, a strong pipeline and an unmatched team, which sets us up for lasting success," said Jeb Keiper, M.S., MBA, Chief Executive Officer of Nimbus.

Nimbus will continue the ongoing clinical development of NDI-101150, a hematopoietic progenitor kinase 1 (HPK1) inhibitor, in patients with solid tumors. The new capital will enable the advancement of multiple preclinical programs into and through early clinical development, including programs targeting Werner syndrome helicase (WRN) and an undisclosed autoimmune disease target. Nimbus is also pursuing the development of novel targeted therapies that activate AMPK to treat a potentially broad range of metabolic disorders via a collaboration with Eli Lilly and Company.

"Nimbus is a leader in integrating cutting-edge computational chemistry, high-tech structural biology tools and other industry-shaping technologies and approaches. We’re thrilled to support Jeb Keiper and the team as they bring difficult-to-drug, high-impact targets within reach across a wide range of therapeutic areas," said Krishna Yeshwant, M.D., MBA, General Partner at GV.

"Nimbus has demonstrated its ability to advance early science through to successful product development multiple times. We eagerly anticipate what lies ahead, and we look forward to being part of the company’s next chapter," said Rajeev Dadoo, Ph.D., Managing Partner at SR One.

"Nimbus’ ability to reproducibly design and develop differentiated, clinically proven small molecules is a testament to the strength of its expert team and its unmatched structure-based drug design platform. We’re gratified to see that sentiment reflected in the strong investor interest we received for this financing, the proceeds of which will advance the next breakthrough medicines from Nimbus’ portfolio," said Bruce Booth, D.Phil., Partner at Atlas Venture, Chairman and co-founder of Nimbus.

On September 6, 2023 Imvax, Inc., a clinical-stage biotechnology company developing personalized, whole tumor-derived immunotherapies, reported the initial closing of a $23 million financing round led by the company’s significant existing investors (Press release, Imvax, SEP 6, 2023, View Source [SID1234634966]). The proceeds from the initial closing will be used to support the company’s ongoing randomized, multicenter, double-blind, placebo-controlled Phase 2b clinical trial of IGV-001 in patients with newly diagnosed glioblastoma (GBM). The trial is enrolling as expected, and the company will continue additional fundraising over the next several months.

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 company also announced the appointment of Stephen Webster to the Imvax Board of Directors. In connection with Mr. Webster’s appointment, David W. Andrews, M.D., has stepped down from the Board but remains as the company’s Chief Medical Officer.

"The support of our existing investors in this fundraising reflects their belief in the promise of IGV-001 and their commitment to patients facing a GBM diagnosis," said John P. Furey, Chief Executive Officer. "We are making tremendous progress in the Phase 2b trial, and our expectation is that the study will be fully enrolled in the first half of 2024."

"I am also pleased to welcome Stephen Webster to the Imvax Board of Directors," Mr. Furey continued. "Stephen brings over 30 years of biotechnology industry experience in raising capital, business development transactions and operations and will be instrumental as we move forward the development of IGV-001 and our pipeline. I want to thank Dr. Andrews, a co-founder of Imvax, for his service on the Board over many years and am grateful for his continued leadership as our Chief Medical Officer."

Mr. Webster served as the Chief Financial Officer of Spark Therapeutics, a publicly traded gene therapy biotechnology company, from July 2014 until its acquisition by Roche for $4.3 billion in December 2019. He was previously Senior Vice President (SVP) and Chief Financial Officer of Optimer Pharmaceuticals, a publicly traded biotechnology company, from July 2012 until its acquisition by Cubist Pharmaceuticals in October 2013. Prior to joining Optimer, Mr. Webster served as SVP and Chief Financial Officer of Adolor Corporation, a biopharmaceutical company, from 2008 until its acquisition by Cubist Pharmaceuticals in 2011. Mr. Webster also served in leadership positions in the investment banking healthcare groups of Broadpoint Capital and PaineWebber Incorporated. Mr. Webster currently serves as a director of two publicly traded biopharmaceutical companies: Cullinan Oncology, Inc., and NextCure, Inc. Mr. Webster received an A.B. in Economics from Dartmouth College and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania.

"I am excited to join the Imvax Board of Directors at a time of tremendous opportunity for the company," said Mr. Webster. "IGV-001 for GBM and the Goldspire platform reflect a unique and potentially transformative approach to personalized, whole tumor-derived immunotherapy. I look forward to working with the Imvax management team and Board to help realize the company’s mission to deliver transformative therapies for patients."

On September 6, 2023 Anova Enterprises, Inc. (Anova), an organization dedicated to accelerating promising treatments to market with its transformative AnovaOS technology platform, and the industry’s first collaborative ‘learning system’, reported a partnership with Dizal Pharmaceuticals (Dizal) to accelerate the development of DZD9008 for patients with EGFR Exon20ins mutant NSCLC (Press release, Dizal Pharma, SEP 6, 2023, View Source [SID1234634965]).

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!

Dizal is a commercial-stage biopharmaceutical company focused on the discovery and development of differentiated therapeutics for the treatment of cancer and immunological diseases. Dizal are evaluating DZD9008 in a Phase III study in a first-line setting and a Phase II study in a recurrent setting.

EGFR Exon20ins occur in about 2% patients with NSCLC. No target therapy has gained full approval for the treatment. Chemotherapy is the most commonly used in the first-line setting, but the treatment’s efficacy is not optimal. Therefore, there is an unmet medical need to develop more effective therapy.

"Advances in precision medicine have clearly helped patients with EGFR mutations survive longer. Anova and Dizal are committed to building upon recent success with DZD9008 following NDA approval of Sunvozernitib for the treatment of adult patients with locally advanced or metastatic NSCLC patients with EGFR Exon20ins by the National Medical Products Administration (NMPA) of China. We are identifying the underserved group of NSCLC cases that have EGFR Exon20ins mutations and giving them an opportunity to participate in research designed to benefit them.

"It is not enough to identify patients with rare tumor mutations and hope they can access a promising clinical trial," said Martin Walsh, President at Anova. "AnovaOS provides a network that allows any patient to participate in research where they choose to receive care. Being able to deliver study opportunities in real time transforms the way research has been historically conducted."

Research sites and physicians interested in participating in this study should register their profile at www.anovaevidence.com. NSCLC patients with EGFR Exon20ins mutations can e-mail [email protected] to find out more about the study and consider participation. To find out more contact Victor Sirippi, Project Lead at [email protected]

On September 6, 2023 Ibex Medical Analytics (Ibex), the leader in AI-powered cancer diagnostics, reported it has closed a $55 million Series C financing round led by 83North (Press release, Ibex Medical Analytics, SEP 6, 2023, View Source [SID1234634964]). Additional participants in the round were Sienna Venture Capital and existing investors in the company, Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital. The financing brings total funding to over $100 million since Ibex’s inception in 2016.

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!

Ibex is transforming cancer diagnostics with AI-powered solutions that help pathologists improve the quality of diagnosis and support laboratories with enhanced efficiency and better turnaround times. Cancer incidence is rising around the world while its diagnosis becomes more complex and nuanced, causing heavy workloads for pathologists and laboratories. The increasing demand is compounded by a global shortage of pathologists who still rely heavily on manual work and solely on visual analysis of biopsies. Ibex’s Galen platform helps overcome these challenges with AI-powered workflows and decision support tools that pathologists use in their everyday practice.

"Ibex is leading the market in live customer deployments as we remain steadfast in our mission of providing every patient with a timely, accurate and personalized cancer diagnosis," said Joseph Mossel, Co-Founder and CEO of Ibex. "This latest financing round will enable us to take major steps toward reaching our goal. We will be using the funds to expand our footprint in the United States to meet the increasing demand for AI-powered diagnostic solutions, and to accelerate the growth of our product portfolio to create more tools for pathologists and labs as they digitally transform their practices. This financing round highlights our strong commercial momentum and our tenacity in pursuing the opportunities that lie ahead."

Ibex’s Galen platform is the most widely deployed AI technology in pathology and has been deployed in laboratories and pathology departments around the world. Ibex achieved several significant milestones recently, including live deployment of Galen at University of Pittsburgh Medical Center (UPMC), the completion of national roll out throughout Wales, and collaboration with AstraZeneca and Daiichi Sankyo for the development of an AI-powered biomarker scoring product for breast cancer. Galen provides health systems and diagnostic laboratories with an integrated solution for cancer diagnosis and biomarker scoring, capable of detecting more the 100 different cancer and non-cancer pathologies while offering enhanced interoperability with scanning systems, image management solutions and lab information systems. Ibex was recently showcased in a KLAS Research report which provided consistently favorable feedback from global customers.

"Our continued investment in Ibex is a testament to the company’s progress in recent years, bringing its unparalleled technology to laboratories, hospitals and digital pathology networks worldwide, catapulting the industry into an AI-powered era," added Gil Goren, Partner at 83North and Board Director of Ibex. "Ibex’s successful deployments demonstrate its responsiveness to market and customer needs, while its product portfolio continues to grow and meet new market demands. We are eager to see Ibex forge the way with new uses of AI in cancer diagnosis, supporting providers as they work to improve patient care and outcomes."