On December 26, 2024 Ascentage Pharma (6855.HK), a global biopharmaceutical company engaged in discovering, developing, and commercializing therapies to address global unmet medical needs primarily for malignancies, reported that its Chairman and CEO, Dr. Dajun Yang, has accepted an invitation to present on the company’s progress and prospects under its patient-centric global innovation strategy, at 1:15 PM, January 16, 2025, Pacific Time (5:15 AM, January 17, 2025, Beijing Time) at the 43rd Annual J.P. Morgan Healthcare Conference (Press release, Ascentage Pharma, DEC 26, 2024, View Source [SID1234649319]).

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The annual J.P. Morgan Healthcare Conference is the largest and most informative event for the global pharmaceutical industry and the investment community. This year, the conference will take place in San Francisco, CA, the United States, on January 13-16, 2025.

Time:

January 16, 2025; 1:15-1:40 PM, Pacific Time
(January 17, 2025; 5:15-5:40 AM, Beijing Time)

Speaker:

Dr. Dajun Yang, Chairman and CEO of Ascentage Pharma

You may sign up for the conference and listen to a live webcast of the speech at:
View Source;kiosk=true

On December 26, 2024 Exicure, Inc. (Nasdaq: XCUR, "Exicure", "the Company"), reported the signing of a Memorandum of Understanding (MOU) with GPCR Therapeutics, Inc. ("GPCR Therapeutics") on December 24, 2024, aimed at the acquisition of GPCR USA, a subsidiary of GPCR Therapeutics, and the technology transfer and collaborative research on GPCR Therapeutics’ ongoing drug development pipelines (Press release, Exicure, DEC 26, 2024, View Source [SID1234649317]). Through this acquisition, Exicure plans to secure key technical personnel by purchasing all shares of GPCR USA held by GPCR Therapeutics. Following this, Exicure intends to receive technology transfer for GPCR Therapeutics’ CXCR4 inhibitor, which is currently in Phase 2 clinical trials with the FDA, along with its related patents and intellectual property (IP). By acquiring excellent research personnel and clinical pipelines, Exicure aims to advance as a clinical-stage biotech company. GPCR Therapeutics plans to successfully finalize ongoing clinical trials involving stem cell mobilizers (SCM) targeting multiple myeloma patients and prepare for clinical studies related to acute myeloid leukemia (AML). The market size for the ongoing Phase 2 trials is estimated to be around $1 billion to $2 billion annually.

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Moreover, Exicure plans to engage in collaborative research and development in various forms for GPCR Therapeutics’ ongoing research in immuno-oncology, fibrosis treatments, and obesity therapies. GPCR Therapeutics, the partner with Exicure in this MOU, is a South Korean drug development company specializing in GPCR (G Protein-Coupled Receptor, "GPCR"), which represents over one-third of all drug targets. GPCR Therapeutics has secured target patents around prominent GPCRs such as CXCR4 and possesses multiple pipelines addressing blood cancers and solid tumors, genetic disorders, idiopathic pulmonary fibrosis, and obesity, including ongoing Phase 2 trials in the U.S. for multiple myeloma. Dr. Pina Cardarelli, who previously served as Vice President at Bristol-Myers Squibb, where she led the development of the first-ever immuno-oncology drugs, Yervoy (ipilimumab) and Opdivo (nivolumab), has served as the Chief Scientific Officer (CSO) of GPCR Therapeutics since 2019.

In 2021, GPCR Therapeutics established a subsidiary in the U.S. to align its R&D with global pharmaceutical standards and demands. During the American Society of Hematology (ASH) (Free ASH Whitepaper) conference held from December 7-10, 2024, GPCR Therapeutics presented three exhibits detailing: (1) interim results from ongoing Phase 2 trials, (2) data on enhancing treatment efficacy for acute myeloid leukemia (AML), and (3) preclinical data on boosting T cell responses to offer various therapies, including in vivo CAR-T. Additionally, on December 24, 2024, Exicure completed the $8.7 million capital investment. Combined with the $2 million capital investment executed on December 9, 2024, the $1.3 million raised in November, and an expected additional $4 million, the Company plans to secure a total of $14 million in capital investments. The funds will primarily be used for the acquisition of GPCR USA, clinical trial costs, and its ongoing operations.

On December 26, 2024 Viracta Therapeutics, Inc. (Nasdaq: VIRX), a clinical-stage precision oncology company focused on the treatment and prevention of virus-associated cancers that impact patients worldwide, reported that its Board of Directors has initiated a process to explore a broad range of strategic alternatives (Press release, Sunesis, DEC 26, 2024, View Source [SID1234649318]).

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To maximize its cash runway while the Board conducts its review of strategic alternatives, Viracta has elected to close its ongoing pivotal Phase 2 clinical trial of Nana-val in relapsed/refractory EBV+ lymphomas (the NAVAL-1 trial). The company emphasized that its decision to voluntarily close the trial is not the result of any new safety finding.

"As we continue to look for ways to conserve resources and maximize value for the company, we made the very difficult decision to close the NAVAL-1 study while the Board undertakes its strategic review," stated Mark Rothera, President and Chief Executive Officer of Viracta. "I would like to thank the physicians and patients who participated in this important study, as well as the Viracta team members who worked so tirelessly on this program. I continue to believe that Nana-val has the potential to improve the treatment of relapsed/refractory EBV+ lymphomas, and I remain hopeful that it will one day be approved."

Viracta is making this announcement to inform shareholders and the public that the Company is engaging in discussions for strategic alternatives with the goal of maximizing value. Potential alternatives include, but are not limited to, a merger, licensing agreement, sale or other strategic transaction.

There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or as to the timing of any such agreements or transactions. Viracta does not intend to discuss or disclose further developments regarding the exploration of strategic alternatives unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate or required by law.

On December 26, 2024 Northwest Biotherapeutics (OTCQB:NWBO) (the "Company" or "NW Bio"), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, reported that on December 19, 2024 it entered into a $5 million convertible Promissory Note financing with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP ("Yorkville") (Press release, Northwest Biotherapeutics, DEC 26, 2024, View Source [SID1234649316]). The term of the Note is 13 months. The Note carries an Original Issue Discount of seven percent but no interest. Repayment of all outstanding amounts is due at maturity; no payments by the Company are due until maturity. The Note includes customary default provisions. During the term of the Note, it is convertible at the option of the holder, at a small discount to the then prevailing market price. The amounts of such conversions are limited to one sixth (1/6) of the overall Note amount in any given calendar month unless the conversion price is above $0.315. The Company plans to use the proceeds for general corporate purposes, including both its lead product and its in-licensed portfolios.

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The Company and Yorkville also entered into a standby equity subscription agreement (the "Subscription Agreement") which the Company may use after the Note is repaid or converted. Under this Subscription Agreement, NW Bio has the option, in its discretion, to require Yorkville to subscribe for up to $50 million of common shares in the Company at any time during the 24-month term of the Subscription Agreement at a small discount to the then prevailing market price, after the Note is repaid or converted. The Company has no obligation to make any such use of this arrangement, and the Company can cancel the arrangement at any time after the Note is repaid or converted. The Company has no current plans to draw upon this standby facility; however, the Company believes it will be useful to have this facility available for special funding needs in connection with certain key potential upcoming milestones.

Joseph Gunnar & Co., LLC acted as the exclusive placement agent for the offering.

On 24 December 2024 Achilles Therapeutics plc (NASDAQ: ACHL) reported that it has transferred the commercial license of data and samples from the TRACERx Non-Small Cell Lung Cancer (NSCLC) study to AstraZeneca (LSE/STO/Nasdaq: AZN) (Press release, Achilles Therapeutics, DEC 26, 2024, View Source [SID1234649315]). TRACERx (TRAcking Cancer Evolution through therapy (Rx)), led by Professor Charles Swanton at University College London (UCL), UK, is one of the largest tumor evolution studies to generate deep sequencing multi-region and multi-time-point genetic data from over 3,200 tumor samples from over 800 lung cancer patients. As part of the transaction, AstraZeneca will also take over as sponsor of Achilles’ Material Acquisition Platform (MAP), and receive tumor samples and data collected thus far. MAP is a proprietary network that has collected donor tumor tissue and blood from nearly 300 cancer patients undergoing standard-of-care cancer surgery across multiple solid tumor indications, including lung, melanoma, head and neck, renal, bladder, and breast.

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"We are pleased that as a leader in Oncology, AstraZeneca recognizes the scientific value of our TRACERx and MAP assets," said Dr Iraj Ali, CEO of Achilles Therapeutics. "We believe that these assets have the potential to positively impact Oncology R&D and will support the development of new and improved therapies for cancer patients."

AstraZeneca has agreed to pay Achilles Therapeutics $12M for the assets in total.

BofA Securities provided strategic financial advice to Achilles for the transaction. Completion of this transaction signals the conclusion of Achilles’ strategic review which was announced in September 2024. Achilles now plans to undertake additional measures, including a further reduction in employee headcount and a decrease in the size of its Board of Directors, while remaining compliant with Nasdaq and SEC requirements.