On March 17, 2023 Sorrento Therapeutics, Inc. (OTC: SRNEQ, "Sorrento"), a biopharmaceutical company dedicated to the development of life-saving therapeutics to treat cancer, reported that on March 16, 2023, the LA County Superior Court confirmed an arbitration award of $125 million in damages, to be paid by NantPharma, LLC ("NantPharma") (Press release, Sorrento Therapeutics, MAR 17, 2023, View Source [SID1234629048]). The award reflects the values of lost milestones for the approval of the drug Cynviloq for the treatment of breast and lung cancers.

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Dr. Henry Ji, Ph.D., Chairman and Chief Executive Officer of Sorrento, commented: "We are pleased that the Court has affirmed the result of the arbitration against NantPharma and has awarded $125 million in damages to Sorrento. From here, we remain focused on our important work of developing new and innovative therapies for patients struggling with cancer, intractable pain, infectious disease, and more."

The award stems from an arbitration between Sorrento and NantPharma regarding the development of chemotherapy drug Cynviloq, the rights to which NantPharma acquired from Sorrento in 2015. In 2019, Sorrento filed an arbitration demand against NantPharma, alleging that the company had failed to live up to its contractual obligations to develop Cynviloq and bring it to market.

On December 19, 2022, following nearly two years of discovery and an 18-day evidentiary hearing, the Honorable Faith Hochberg, whom the parties selected to preside over the Cynviloq Arbitration, awarded Sorrento $125 million in damages. On March 16, 2023, the LA County Superior Court granted Sorrento’s motion to confirm the award, which Sorrento now intends to enforce against NantPharma.

On March 17, 2023 Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), reported that on March 1, 2023, the Compensation Committee of Sutro’s Board of Directors (i) granted to Anne Borgman, M.D. 175,000 shares of Sutro Biopharma stock options and 150,000 restricted stock units (RSUs) of Sutro common stock in connection with her appointment as Sutro’s Chief Medical Officer and (ii) granted 10,000 RSUs of Sutro common stock to one other new employee (Press release, Sutro Biopharma, MAR 17, 2023, View Source [SID1234629016]). These grants were made as an inducement material to the employees’ acceptance of employment with Sutro and were approved by the Compensation Committee of Sutro’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4).

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The RSUs and stock options are subject to the terms and conditions of Sutro’s 2021 Equity Inducement Plan. One-fourth of the total number of shares subject to the RSUs will vest on the one-year anniversary of the employee’s hire date and annually thereafter until fully vested on the fourth anniversary, subject to the employee’s continued service with Sutro on each such vesting date. One-fourth of the total number of shares underlying the stock options will vest on the one-year anniversary of the employee’s hire date and 1/48th of the total number of shares underlying the stock options will vest each month thereafter until fully vested on the fourth anniversary of the employee’s hire date, subject to the employee’s continued service with Sutro on each such vesting date. The stock options have a term of ten years and an exercise price equal to the closing price of Sutro’s common stock on the grant date as reported by The Nasdaq Stock Market.

On March 17, 2023 Celyad Oncology (Euronext & Nasdaq: CYAD) (the "Company"), a biotechnology company focused on the discovery and development of innovative technologies for chimeric antigen receptor (CAR) T-cell therapies, reported that the Company will report full year 2022 financial and operating results on the evening of Thursday, March 23rd (Press release, Celyad, MAR 17, 2023, https://celyad.com/2023/03/17/celyad-oncology-to-announce-full-year-2022-financial-results-and-host-conference-call/ [SID1234629014]).

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Following the press release, the Company management will host a conference call on Friday, March 24th 2023 at 1 p.m. CET / 8 a.m. ET to discuss full year 2022 results and provide an update on the Company’s recent changes and upcoming milestones.

Participants may access the conference call by dialing +1-877-407-9716 or +1-201-493-6779 (United States, International), +32 (0) 800-73-904 (Belgium Fixed) or +32 (0) 800-73-566 (Belgium Mobile).

Participants may also access to the live webcast link for instant telephone access to the event. Archived recording will be available in the "Events" section of the Celyad website after the event.

On March 17, 2023 Likang reported that according to the latest data released at the Clinical Trials Implied Approval section on the website of China’s Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA), Likang Life Sciences (hereinafter referred to as "Likang") has received implied approval for the clinical trial of its personalized neoantigen-targeted vaccine for advanced solid tumors, LK101 Injection (Press release, Likang Life Sciences, MAR 17, 2023, View Source [SID1234629002]). This is the first personalized neoantigen vaccine & mRNA editing product approved by the NMPA to enter clinical stage.

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On December 22, 2022, Likang submitted an IND application for LK101 Injection to NMPA, and received application shortly after. LK101 Injection, the first in-house developed cancer vaccine candidates by Likang, is a personalized neoantigen-targeted cancer vaccine and also a dendritic cell (DC)-based mRNA vaccine that combines advantages of both mRNA technology and DC by transducing mRNA encoding personalized tumor antigen targets based on dozens of patient-specific tumor mutations information into dendritic cells.

The mRNA editing technology is a highly convenient method that can encode multiple antigens at once while maintaining rapid, efficient expression, making it suitable for the development of personalized cancer treatments. DCs, which are highly specialized and strong antigen-presenting cells in human immune system, have been utilized in the development of tumor vaccines. DC vaccines have demonstrated high safety and good tolerance, effectively activating tumor-specific T cells and establishing immunological memory, resulting in long-term anti-cancer effects. The combination of mRNA vaccine and DC vaccine provides a potential breakthrough in the field of personalized neoantigen treatment, offering an effective and safe approach for patients to fight against cancer.

In 2018, Likang collaborated with the Chinese PLA General Hospital to conduct an investigator-initiated clinical trial (IIT) of LK101 injection for postoperative liver cancer patients. The data showed that LK101 have good safety and tolerance, no grade I or higher drug-related adverse reactions reported. Activation of anti-tumor neoantigen immune response detected in all patients, showing significant advantages in terms of postoperative recurrence rate and survival rate.

On March 17, 2023 Hackensack Meridian Health reported that it is investing $14 million dollars at JFK University Medical Center to expand access to state-of-the-art oncology services (Press release, Hackensack Meridian Health, MAR 17, 2023, View Source [SID1234629001]).

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"Hackensack Meridian Health is committed to using every available resource to fight cancer and ensure that our patients, clinical staff, and frontline teams have access to best-in-class, award-winning care in their own backyard," said Robert C. Garrett, FACHE, chief executive officer, Hackensack Meridian Health.

"Our investment in JFK University Medical Center will strengthen patient access to specialized oncology services and meet their future healthcare needs," said Todd Way, president, central market, Hackensack Meridian Health.

The new state-of-the-art oncology facility at JFK University Medical Center will be located in a separate building across the street from the main hospital at 80 James Street. The four-story cancer facility will be designed to enhance the patient experience, along with having access to nationally recognized specialists as well as the latest technologies.

"JFK’s oncology expansion will allow patients in our community to receive comprehensive oncology services within a seamless continuum of care, close to home. Patients will not have to travel out of state or the local community to receive access to the latest clinical trials and advanced treatments," said Amie Thornton, president, chief hospital executive, JFK University Medical Center.

"This new expansion will double the size of the existing infusion capabilities currently offered to our patients," said Joseph Landolfi, D.O., CPE, chief medical officer, JFK University Medical Center.

In addition, JFK University Medical Center’s main campus (65 James St), will offer intensity-modulated radiation therapy (IMRT), Stereotactic Body Radiation Therapy (SBRT), Gamma Knife Radiosurgery and Gynecologic Brachytherapy. The completion of the project is expected in the first quarter of 2024.