On June 12, 2024 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting hard-to-treat tumors and viruses, reported that it will present at the Virtual Investor Pitch Conference on June 18, 2024 at 3:00 PM ET (Press release, Moleculin, JUN 12, 2024, View Source [SID1234644280]).

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As part of the event, Walter Klemp, Chairman and Chief Executive Officer of Moleculin, will provide an "elevator pitch" and outline the Company’s upcoming milestones. Additionally, investors and interested parties will have the opportunity to submit questions live during the event. Participating companies will answer as many questions as possible in the time allowed.

A live video webcast of the event will be available on the Events page under the Investors section of the Company’s website (moleculin.com). A webcast replay will be available two hours following the live presentation and will be accessible for 90 days.

On June 12, 2024 Day One Biopharmaceuticals presented its corporate presentation (Presentation, Day One, JUN 12, 2024, View Source [SID1234644279]).

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On July 11, 2024 Resolute Science, Inc., a preclinical-stage biotechnology company developing a novel class of pan-cancer therapeutics for the treatment of aggressive and hard-to-treat solid tumors, reported the National Cancer Institute (NCI) has issued a Notice of Award for the Phase 2 portion of its Fast Track Small Business Innovation Research (SBIR) grant (Press release, Resolute Science, JUN 11, 2024, View Source [SID1234656394]). This $2.1 million grant supports the advancement of Resolute’s lead asset, RS-5, a novel synthetic, pan-cancer drug conjugate for treating soft tissue sarcomas (STS) and other aggressive, hard-to-treat solid tumors.

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This NCI grant will enable Resolute to accelerate its IND-enabling activities as it advances RS-5 toward clinical trials. RS-5 is a first-in-class pan-cancer therapeutic leveraging the company’s proprietary MAC-TAC (Macrophage Targeted Conjugate) drug-delivery technology platform. RS-5 demonstrates powerful anti-cancer efficacy across multiple CDX and PDX murine tumor models while being well-tolerated. This proof-of-concept data supports the continued development of RS-5 for soft tissue sarcomas and a broad range of solid tumors.

"We are grateful for the continued support from the NCI," said Faith H. Barnett, MD, PhD, Founder and CEO of Resolute Science. "These funds will allow us to continue translating MAC-TAC therapeutics toward the clinic. Our goal is to bring effective and safe therapeutics to cancer patients, particularly those with limited or no treatment options".

The MAC-TAC platform has broad functionality for the targeted delivery of various anti-cancer payloads to tumors, including cytotoxins and radioisotopes, as well as molecules for tumor visualization (e.g., MRI) and precise surgical resection (via fluorescein isothiocyanate [FITC] fluorescence).

Resolute targets a highly abundant non-cancerous cell population within tumors called TAMs (tumor-associated macrophages). These cells process MAC-TACs to deliver cytotoxic drugs to adjacent cancer cells. By targeting stable and non-dividing TAMs rather than rapidly dividing and mutating cancer cells, Resolute may avoid the resistance mechanisms intrinsic to targeting cancer cells, as seen with cancer cell-targeting therapeutics such as Antibody Drug Conjugates (ADCs) and small molecules.

On June 11, 2024 Moleculent AB, a company pioneering technology to study the communication between cells in human tissue, reported the closing of its oversubscribed $26 million Series A financing (Press release, Moleculent, JUN 11, 2024, View Source [SID1234644273]). The round was led by ARCH Venture Partners (ARCH) and co-led by Eir Ventures with participation from the company’s existing investors. ARCH’s Patrick Weiss has been appointed Chairman. Sean Kendall from ARCH, together with Magnus Persson from Eir Ventures, have also joined the company’s Board of Directors.

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Moleculent’s functional biology platform detects cell-cell interactions and profiles their communication directly within their tissue environment. This novel approach allows scientists to see how healthy cells function and how diseased cells differ at a complex, networked level. A complete picture of the cell-cell communication in a tumor, for example, offers a practical understanding of the signaling pathways and molecular mechanisms involved in drug response. Studying cell-cell interactions between many different receptors and ligands, in a tissue context, represents a paradigm shift in understanding biological systems by enabling scientists to see a more comprehensive picture and to decode the cell-cell conversations and disease pathways.

"Analysis of DNA, as well as RNA and protein expression inform us about the building blocks of a cell but do not directly measure how cells are working together. Understanding cell-cell communication networks in tissues has the potential to bring us into a new era of understanding functional biology and human disorders," said Olle Ericsson, PhD, co-founder and Chief Executive Officer of Moleculent. "The Moleculent platform has been designed to allow scientists to uncover radical new insights into the cellular level of human biology and pathology. We are very happy to partner with ARCH Venture Partners and Eir Ventures to bring this enabling platform to the scientific community."

Moleculent is led by a team of industry veterans with expertise in developing and globally commercializing life science tools at leading companies including Halo Genomics (acquired by Agilent), Vanadis Diagnostics (acquired by Perkin Elmer), and Spatial Transcriptomics (acquired by 10x Genomics).

"Spatial mapping technologies transformed our understanding of cellular neighborhoods, and the next frontier is to measure the critical communications between networks of individual cells. Moleculent will enable scientists to decipher this communication to better understand functional human biology," said Weiss. "I am honored to chair the Moleculent Board and look forward to working with this exceptional team of experienced entrepreneurs and technology developers to change how we understand and diagnose disease in the coming decade."

On June 11, 2024 Incyte Corporation (Nasdaq: INCY) ("Incyte" or the "Company") reported the preliminary results of its modified "Dutch auction" tender offer to purchase up to $1.672 billion in value of shares of its common stock, which expired at 12:00 midnight, at the end of the day, New York City time, on June 10, 2024 (Press release, Incyte, JUN 11, 2024, View Source [SID1234644271]).

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Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of approximately 29.8 million shares of Incyte’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $60.00 per share, including approximately 14.8 million shares that were tendered through notice of guaranteed delivery. Incyte has been informed by the depositary that the preliminary proration factor for the shares to be purchased by Incyte pursuant to the tender offer is approximately 93.4 percent.

In accordance with the terms and conditions of the tender offer and based on the preliminary count by the depositary, the Company expects to purchase approximately 27.9 million shares of its common stock through the tender offer at a purchase price of $60.00 per share, for a total cost of approximately $1.672 billion, excluding fees and expenses relating to the tender offer. These shares represent approximately 12.4 percent of the Company’s total outstanding shares of common stock as of June 7, 2024.

As previously announced, on May 12, 2024, Incyte entered into a separate stock purchase agreement with Julian C. Baker (a member of Incyte’s Board of Directors), Felix J. Baker, and entities affiliated with Julian C. and Felix J. Baker, including funds advised by Baker Bros. Advisors LP (collectively, the "Baker Entities"), under which the Baker Entities agreed not to tender or sell any shares in the tender offer and instead agreed to sell to the Company, following completion of the tender offer, a pro rata number of shares at the same price per share as will be paid by the Company in the tender offer, such that the Baker Entities’ aggregate percentage ownership in the Company will be substantially the same as prior to the tender offer. As such, the Company expects to repurchase a total of approximately 33.3 million shares of its common stock through the tender offer and the stock purchase agreement at a price of $60.00 per share, for a total cost of approximately $2.0 billion, excluding fees and expenses. These shares represent approximately 14.8 percent of the Company’s total outstanding shares of common stock as of June 7, 2024.

The number of shares expected to be purchased in the tender offer and under the stock purchase agreement and the purchase price per share are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the required one business day period. The final number of shares to be purchased in the tender offer and the final purchase price per share will be announced following the expiration of the guaranteed delivery period and the completion by the depositary of the confirmation process. Payment for the shares accepted for purchase pursuant to the tender offer, and the return of all other shares tendered and not purchased, will occur promptly following the completion of the confirmation process. The Company expects to fund the purchase of shares in the tender offer and pursuant to the stock purchase agreement with the Baker Entities, together with all related fees and expenses, with cash on hand.

The dealer manager for the tender offer is Goldman Sachs & Co. LLC. D.F. King & Co., Inc. is serving as information agent for the tender offer. Stockholders who have questions or would like additional information about the tender offer may contact D.F. King & Co., Inc. toll-free at (866) 864-4943.