On October 17, 2023 STORM Therapeutics Ltd. (STORM), a clinical stage biotechnology company discovering and developing novel small molecule therapies targeting RNA modifying enzymes (RMEs) for oncology and other diseases, reported that Dr. Yaara Ofir-Rosenfeld, Director of Translational Oncology at STORM, presented novel pre-clinical data investigating the combination of METTL3 inhibitors (METTL3i) with DNA damaging therapies at the AACR (Free AACR Whitepaper)-NCI-EORTC AACR-NCI-EORTC (Free AACR-NCI-EORTC Whitepaper) International Conference on Molecular Targets and Cancer Therapeutics (EORTC-NCI-AACR) (Free ASGCT Whitepaper) (Free EORTC-NCI-AACR Whitepaper) in Boston, Massachusetts on the 11-15 October 2023 (Press release, STORM Therapeutics, OCT 17, 2023, View Source [SID1234636082]).

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 presentation entitled "STC-15, a small molecule inhibitor of the RNA methyltransferase METTL3, activates anti-tumor immunity and reshapes the tumor microenvironment" detailed pre-clinical findings from STORM’s investigational drug STC-15 in combination with DNA damaging therapies. STC-15 is an orally bioavailable, highly selective METTL3 inhibitor and is the first molecule specifically targeting an RNA methyltransferase enzyme to enter clinical development.

STORM’s new data demonstrates that:

METTL3 inhibition enhances cytotoxicity of DNA damaging chemotherapies such as doxorubicin
Combination of STC-15 with chemotherapies activates cancer cell intrinsic interferon signalling that contributes to the induction of immunogenic cell death.
STC-15 synergises with radiation therapy in vivo
STC-15 reshapes the tumor microenvironment, shifting it from an immunosuppressive, pro-tumorigenic to an immune stimulatory, anti-tumor state
A first-in-human clinical trial on STORM’s lead clinical candidate STC-15 in patients with solid tumours is ongoing and can be found on clinicaltrials.gov under the identifier NCT05584111.

Yaara Ofir-Rosenfeld, Director of Translational Oncology of STORM Therapeutics, added, "Many tumours develop mechanisms that suppress their recognition by the immune system and limit their response to treatment. Our new findings reveal that STC-15 treatment shifts the tumour microenvironment to an immunostimulatory state and thereby boosts the efficacy of established cancer treatments such as radio- and chemotherapy."

Oliver Rausch, Chief Scientific Officer of STORM Therapeutics, commented, "These exciting new data build on our previous findings that STC-15 leads to activation of anti-tumor immunity and tumor killing. They illustrate a huge opportunity for STC-15 to be combined with a wide range of existing standard of care cancer drugs including checkpoint inhibitors and DNA damaging agents. This represents a major discovery for the STORM team as we look to develop STC-15 as a novel treatment option for cancer patients."

Details of the conference and presented abstract are as follow:

Abstract Title: STC-15, a small molecule inhibitor of the RNA methyltransferase METTL3, activates anti-tumor immunity and reshapes the tumor microenvironment

Presenter: Yaara Ofir-Rosenfeld1

Date and Time: Saturday, 14 October 2023, 12:30pm-4:00pm EDT

Location: Level 2, Exhibit Hall D

Poster number: C077

Session: Poster Session C

1STORM Therapeutics Ltd., Cambridge, UK

On October 17, 2023 Beyond Cancer, Ltd., an affiliate of Beyond Air, Inc. (NASDAQ: XAIR) that is developing ultra-high concentration nitric oxide (UNO) as an immunotherapeutic for solid tumors, reported the publication of pre-clinical data demonstrating that its proprietary technology reduces immunosuppression and creates a favorable microenvironment that can contribute to immune potentiation (Press release, Beyond Air, OCT 17, 2023, View Source [SID1234636081]).

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 data were published in an article entitled, "Intratumoral Administration of High-Concentration Nitric Oxide and Anti-mPD-1 Treatment Improves Tumor Regression Rates and Survival in CT26 Tumor-Bearing Mice," in the peer-reviewed journal Cells. The article is available on the Cells website. (click here).

"The combination of UNO and anti-mPD-1 resulted in a potent, synergistic immune response," stated Dr. Hila Confino, Head of In Vivo Studies. "This work aligns with prior data utilizing UNO to treat solid tumors and has repeatedly demonstrated increased tumor regression rates and improvement in survival."

Dr. Frederick Dirbas, MD, Associate Professor of Surgery, Div of Surgical Oncology, Dept of Surgery, Stanford University School of Medicine and Chair of the Beyond Cancer Scientific Advisory Board commented, "This manuscript details the beneficial effects of UNO alone and in conjunction with immunotherapy in a murine tumor model. The boost seen with the combination of UNO and immunotherapy is important. We look forward to further investigation exploring mechanisms of action of UNO as well as the potential merits of UNO in treating human solid tumors."

The manuscript published in Cells describes several studies elucidating UNO’s effect on both the adaptive and innate immune responses, as well as tumor responses, to a single administration of therapy. Specifically, in vitro studies showed that PD-L1 was upregulated in both CT26 and 4T1 tumor models following exposure to UNO, implying a possible mechanism for overcoming PD-1 resistance (Figure 1).

PD-L1 Upregulation in CT26 and 4T1 Cells after In Vitro Exposure to UNO

Intratumorally, UNO resulted in a substantial and enduring reduction in the T-reg/CD8+ ratio demonstrating a less tumorigenic microenvironment (Figure 2).

T-cell profiling in tumors of CT26 mice treated with UNO

Systemically, the acute effects of UNO treatment included a decrease in MDSC’s and simultaneous increase in M1 macrophages, demonstrating a more immunogenic blood profile (Figure 3).

Myeloid cell profiling in CT26 tumors treated with UNO

Figure 3: Myeloid cell profiling in CT26 tumors treated with UNO

"The publication of our second peer-reviewed manuscript in the journal Cells further demonstrates the acceptance of the science of UNO by an expanding community of researchers," said Dr. Selena Chaisson, Chief Executive Officer. "I am excited for the presentation of our initial clinical data at SITC (Free SITC Whitepaper)."

About Nitric Oxide
Nitric Oxide (NO) is a potent molecule, naturally synthesized in the human body, proven to play a critical role in a broad array of biological functions. In the airways, NO targets the vascular smooth muscle cells that surround the small resistance arteries in the lungs. Currently, exogenous inhaled NO is used in adult respiratory distress syndrome, post certain cardiac surgeries and persistent pulmonary hypertension of the newborn to treat hypoxemia. Additionally, NO is believed to play a key role in the innate immune system and in vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria, including both gram-positive and gram-negative, but also against other diverse pathogens.

On October 17, 2023 GSK plc reported that it will present data at the ESMO (Free ESMO Whitepaper) Congress 2023 (20-24 October) focusing on Jemperli (dostarlimab) and Zejula (niraparib) that further demonstrate advancements in immuno-oncology and gynaecologic cancers and improving patient outcomes (Press release, GlaxoSmithKline, OCT 17, 2023, View Source [SID1234636078]).

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!

Advancing research for patients with NSCLC

GSK will share updates from the PERLA trial evaluating dostarlimab plus chemotherapy versus pembrolizumab plus chemotherapy in the first-line treatment of metastatic non-squamous NSCLC. Expanding upon the primary data presented at the ESMO (Free ESMO Whitepaper) Immuno-Oncology Congress 2022, late-breaking results at ESMO (Free ESMO Whitepaper) 2023 (LBA64) will highlight a positive numerical trend in OS outcomes, favouring dostarlimab plus chemotherapy vs. pembrolizumab plus chemotherapy. The PERLA phase II trial is a randomised, double-blind trial of 243 patients and is the largest global head-to-head trial of programmed death receptor-1 (PD-1) inhibitors in this patient population.

In the PERLA trial, the median OS for patients receiving dostarlimab plus chemotherapy was 19.4 months (95% CI: 14.5-NR) versus 15.9 months (95% CI: 11.6-19.3) for patients receiving pembrolizumab plus chemotherapy, after a median follow-up of 20.7 months (17.3-24.0) and 21.6 months (18.3-24.1), respectively (HR: 0.75: [95% CI: 0.53-1.05]). An additional analysis with greater OS maturity is planned and will be reported at a later date. Safety profiles in this secondary analysis were similar and consistent with those previously reported in the primary analysis for the PERLA trial.

Data from PERLA supports the company’s ambition for dostarlimab to become its backbone immuno-oncology therapy when used alone and in combination with standard of care and future novel cancer therapies.

Updates from the RUBY clinical trial

GSK will also present updates from Part 1 of the phase III RUBY clinical trial evaluating dostarlimab in combination with chemotherapy compared to standard of care chemotherapy in patients with primary advanced or recurrent endometrial cancer. During a mini oral presentation (740MO), results from an exploratory analysis of the RUBY trial will show the effect of dostarlimab plus chemotherapy on PFS and OS across molecular classifications initially defined by The Cancer Genome Atlas, including mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H), no specific molecular profile (NSMP) and tumour protein 53 aberrant (TP53mut) subgroups.

In the analysis, PFS and OS results favoured patients treated with dostarlimab plus chemotherapy in the dMMR/MSI-H, TP53mut and NSMP subgroups, with the largest benefit observed in the dMMR and TP53mut groups. This exploratory analysis will provide insights into how molecular classification may help further the understanding of which patients are most likely to derive benefit from treatment.

GSK will also present results (750P) from the RUBY trial focusing on investigator-assessed progression-free survival 2 (PFS2). PFS2 is a secondary endpoint for the trial, defined as the time from treatment randomisation to progression on the first subsequent anticancer therapy following study treatment or death by any cause. The presentation will also include OS results after adjustment for subsequent use of immuno-therapy (dostarlimab, pembrolizumab, durvalumab, nivolumab or pembrolizumab with lenvatinib). The results show PFS benefits are sustained beyond first progression and further support the OS benefits in patients treated with dostarlimab plus chemotherapy vs. chemotherapy alone despite the use of subsequent therapies.

Safety profiles in both analyses were similar and consistent with those previously reported for the RUBY trial.

Exploring real-world experience with first-line maintenance therapy in ovarian cancer

Presentation of an analysis (789P) of real-world data of patients with epithelial ovarian cancer, obtained from a national United States electronic healthcare record-derived de-identified database, will shed new light on treatment duration and causes of discontinuation among individuals receiving niraparib in the first-line maintenance setting. The analysis found that patients with epithelial ovarian cancer who are taking first-line maintenance niraparib for more than 90 days have a longer time to treatment discontinuation than all other patients in the analysis. Findings will contribute to the understanding of effective clinical management of toxicity early in the maintenance period, which may help patients stay on treatment and experience the full therapeutic benefit of niraparib.

Collaborating to improve patient care

GSK is supporting investigator-sponsored studies and fostering scientific collaborations with both experienced investigators and networks, who are involved in the continuum of care of patients living with cancer. In addition to GSK’s presentations at ESMO (Free ESMO Whitepaper), there will be seven additional GSK-supported investigator-sponsored study presentations.

Full list of GSK’s presentations at ESMO (Free ESMO Whitepaper):

Abstract Name Presenter Presentation Details
Overall survival from a phase II randomised double-blind trial (PERLA) of dostarlimab (dostar) + chemotherapy (CT) vs pembrolizumab (pembro) + CT in metastatic non-squamous NSCLC S. Peters LBA64
Dostarlimab + chemotherapy for the treatment of primary advanced or recurrent endometrial cancer (pA/rEC): analysis of progression free survival (PFS) and overall survival (OS) outcomes by molecular classification in the ENGOT-EN6-NSGO/GOG-3031/RUBY trial M. Mirza 740MO
PFS2 and adjustment of overall survival (OS) for subsequent anticancer therapy in patients (pts) with primary advanced or recurrent endometrial cancer (pA/rEC) treated with dostarlimab plus chemotherapy or chemotherapy alone in the ENGOT-EN3-NSGO/GOG-3031/RUBY trial B. Slomovitz 750P
Patient-reported outcomes (PROs) in patients (pts) with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) primary advanced or recurrent endometrial cancer (pA/rEC) in the ENGOT-EN6-NSGO/GOG3031/RUBY trial G. Valabrega 749P
Real-world (RW) duration of treatment in first-line maintenance (1Lm) niraparib monotherapy in epithelial ovarian cancer (EOC): CHAR1ZMA study F. Backes 789P
Patients’ perspective on tolerability of dostarlimab in NSCLC: patient-reported outcomes from the phase II PERLA trial M. Reck 1468P
Full list of collaborative studies at ESMO (Free ESMO Whitepaper):

Abstract Name Presenter Presentation Details
Atezolizumab (atezo) combined with platinum-based chemotherapy (CT) and maintenance niraparib for recurrent ovarian cancer (rOC) with a platinum-free interval (TFIp) >6 months: Primary analysis of the double-blind placebo (pbo)-controlled ENGOT-Ov41/GEICO 69-O/ANITA phase 3 trial A. Gonzalez-Martin LBA37
Niraparib (NIRA) with abiraterone acetate plus prednisone (AAP) as first-line (1L) therapy in patients (pts) with metastatic castration-resistant prostate cancer (mCRPC) and homologous recombination repair (HRR) gene alterations: Three-year update and final analysis (FA) of MAGNITUDE K. Chi LBA85
Patients with endometrial cancer: expectations and understanding of genetic counseling and hereditary carcinomas – first results of an international NOGGO/GCIG/ENGOT survey (EXPRESSION XI / IMPROVE) J. Sehouli 751P
Tolerability and effectiveness of niraparib in long-term responders with platinum-sensitive recurrent ovarian cancer (GEICO-88R study) J. Cueva 795P
Efficacy of niraparib and abiraterone acetate plus prednisone (NIRA+AAP) in homologous recombination repair gene-altered (HRR+) metastatic castration-resistant prostate cancer (mCRPC) by tissue and/or plasma assays in the MAGNITUDE trial G. Attard 1806P
A prospective study to determine the prevalence of DNA repair defects in patients (pts) with advanced prostate cancer (PC) S. Sandhu 1835P
PARPiPANC – A multicentric, single arm, phase II assessing niraparib as first line therapy for patients with metastatic homologous repair-deficient pancreatic cancer P. Cassier 1684TiP
About PERLA

The PERLA phase II trial is a global, randomised, double-blind trial of 243 patients evaluating the efficacy and safety of dostarlimab plus chemotherapy versus pembrolizumab plus chemotherapy in patients with metastatic non-squamous NSCLC without a known sensitising epidermal growth factor receptor, anaplastic lymphoma kinase, or receptor tyrosine kinase-1 mutation V600E mutation of the BRAF gene or other genomic mutation for which an approved targeted therapy is available. The primary endpoint is objective response rate of dostarlimab plus chemotherapy versus pembrolizumab plus chemotherapy assessed by blinded independent central review per RECIST v1.1. Secondary endpoints include investigator-assessed progression-free survival per RECIST v1.1, overall survival, and safety.

About RUBY

RUBY is a two-part global, randomised, double-blind, multicentre phase III trial of patients with primary advanced or recurrent endometrial cancer. Part 1 is evaluating dostarlimab plus carboplatin-paclitaxel followed by dostarlimab versus carboplatin-paclitaxel plus placebo followed by placebo. Part 2 is evaluating dostarlimab plus carboplatin-paclitaxel followed by dostarlimab plus niraparib versus placebo plus carboplatin-paclitaxel followed by placebo.

The dual-primary endpoints in Part 1 are investigator-assessed PFS based on the Response Evaluation Criteria in Solid Tumours v1.1 and OS. The statistical analysis plan included pre-specified analyses of PFS in the dMMR/MSI-H and ITT populations and OS in the overall population. Pre-specified exploratory analyses of PFS in the mismatch repair proficient (MMRp)/microsatellite stable (MSS) population and OS in the dMMR/MSI-H populations were also performed. RUBY Part 1 included a broad population, including histologies often excluded from clinical trials and had approximately 10% of patients with carcinosarcoma and 20% with serous carcinoma. In Part 2, the primary endpoint is investigator-assessed PFS, with OS as a key secondary endpoint. Secondary endpoints in Part 1 and Part 2 include PFS per blinded independent central review, overall response rate, duration of response, disease control rate, patient-reported outcomes, and safety and tolerability.

About Jemperli (dostarlimab)

Jemperli is a programmed death receptor-1 (PD-1)-blocking antibody that binds to the PD-1 receptor and blocks its interaction with the PD-1 ligands PD-L1 and PD-L2.[1]

In the US, Jemperli is indicated in combination with carboplatin and paclitaxel, followed by Jemperli as a single agent for the treatment of adult patients with primary advanced or recurrent endometrial cancer that is mismatch repair deficient (dMMR), as determined by an FDA-approved test, or microsatellite instability-high (MSI-H), and as a single agent for adult patients with mismatch repair-deficient (dMMR) recurrent or advanced endometrial cancer, as determined by a US FDA-approved test, that has progressed on or following a prior platinum-containing regimen in any setting and are not candidates for curative surgery or radiation. The sBLA supporting the new indication in combination with carboplatin and paclitaxel received Breakthrough Therapy designation from the FDA. Jemperli is also indicated in the US for patients with dMMR recurrent or advanced solid tumours, as determined by a US FDA-approved test, that have progressed on or following prior treatment and who have no satisfactory alternative treatment options. The latter indication is approved in the US under accelerated approval based on tumour response rate and durability of response. Continued approval for this indication in solid tumours may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).

Jemperli was discovered by AnaptysBio, Inc. and licensed to TESARO, Inc., under a collaboration and exclusive license agreement signed in March 2014. The collaboration has resulted in three monospecific antibody therapies that have progressed into the clinic. These are: Jemperli (GSK4057190), a PD-1 antagonist; cobolimab, (GSK4069889), a TIM-3 antagonist; and GSK4074386, a LAG-3 antagonist. GSK is responsible for the ongoing research, development, commercialisation, and manufacturing of each of these medicines under the agreement.

Important Information for Jemperli in the EU

Indication 

Jemperli is indicated as monotherapy for treating adult patients with mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) recurrent or advanced endometrial cancer that has progressed on or following prior treatment with a platinum-containing regimen.

Refer to the Jemperli EMA Reference Information for a full list of adverse events and the complete important safety information in the EU.

On October 17, 2023 Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for rare and ultrarare diseases, reported that it has commenced an underwritten public offering of up to $300,000,000 of shares of its common stock (Press release, Ultragenyx Pharmaceutical, OCT 17, 2023, View Source [SID1234636077]). In addition, the company is expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an additional $45,000,000 of shares of common stock at the public offering price, less the underwriting discount.

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 offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed. J.P. Morgan, Goldman Sachs & Co. LLC, BofA Securities and TD Cowen are acting as joint book-running managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became automatically effective on February 12, 2021. This offering is being made solely by means of a prospectus supplement and accompanying prospectus. When available, copies of the preliminary prospectus supplement and the accompanying prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus- [email protected]; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; BofA Securities, NC1-002-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; and Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at [email protected] or by telephone at (833) 297-2926.

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

On October 17, 2023 Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher"), the world leader in serving science, and Olink Holding AB (publ) ("Olink") (Nasdaq: OLK), a leading provider of next-generation proteomics solutions, reported that their respective boards of directors have approved Thermo Fisher’s proposal to acquire Olink for $26.00 per common share in cash, representing $26.00 per American Depositary Share (ADS) in cash (Press release, Thermo Fisher Scientific, OCT 17, 2023, View Source [SID1234636076]). This represents a premium of approximately 74% to the closing price of Olink’s American Depositary Shares that trade on NASDAQ on October 16, 2023, the last trading day prior to the announcement of the transaction. Thermo Fisher will commence a tender offer to acquire all of the outstanding Olink common shares and all of the American Depositary Shares. The transaction values Olink at approximately $3.1 billion which includes net cash of approximately $143 million.

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!

Olink offers leading solutions for advanced proteomics discovery and development, enabling biopharmaceutical companies and leading academic researchers to gain an understanding of disease at the protein level rapidly and efficiently. Olink’s proprietary technology, Proximity Extension Assay (PEA), provides high throughput protein analysis for the very large installed base of qPCR and next-generation sequencing readout systems in the market. With a library of more than 5,300 validated protein biomarker targets, adoption of the technology has been very strong, leading to over 1,400 scientific publications. Headquartered in Sweden, Olink has operations in the Americas, Europe and Asia Pacific.

"The acquisition of Olink underscores the profound impact that proteomics is having as our customers continue to advance life science research and precision medicine," said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. "Olink’s proven and transformative innovation is highly complementary to our leading mass spectrometry and life sciences platforms. Our company is uniquely positioned to bring this technology to customers enabling them to meaningfully accelerate discovery and scientific breakthroughs. We look forward to welcoming Olink’s colleagues to Thermo Fisher."

Jon Heimer, CEO of Olink said, "Olink is dedicated to improving the understanding of human biology by accelerating the use of next-generation proteomics and providing industry-leading data quality at unprecedented scale. Thermo Fisher’s deep life sciences expertise, global reach and proven operational excellence will enable significant opportunities for both customers and colleagues, while also providing immediate value to our shareholders."

The transaction, which is expected to be completed by mid-2024, is subject to customary closing conditions, including receipt of applicable regulatory approvals, and completion of the tender offer. As part of the transaction, Summa Equity AB, Olink’s largest shareholder and additional Olink shareholders and management, in aggregate holding more than 63% of Olink’s common shares, have entered into support agreements agreeing to tender into the tender offer. Thermo Fisher expects to fund the acquisition using cash on hand and debt financing. Upon completion, Olink will become part of Thermo Fisher’s Life Sciences Solutions segment.

Olink is on track to deliver over $200M of revenue in 2024 and, as part of Thermo Fisher, is expected to grow mid-teens organically. In the first full year of ownership, the transaction is expected to be dilutive to adjusted EPS1 by $0.17. Excluding financing costs and non-cash deal related equity compensation costs, the transaction is expected to be accretive by $0.10 in that period. Thermo Fisher expects to realize approximately $125 million of adjusted operating income1 from revenue and cost synergies by year five following close. The expected strong long-term business growth and synergy realization profile make the financial returns on the transaction very compelling.

Advisors

For Thermo Fisher, Cravath, Swaine & Moore LLP and Advokatfirman Vinge KB are serving as legal counsel. For Olink, J.P. Morgan Securities LLC is serving as lead financial advisor, Goldman Sachs Bank Europe SE, Sweden Bankfilial is serving as financial advisor and Baker & McKenzie is serving as legal counsel.