Hepion Pharmaceuticals Announces $9.0 Million Public Offering

On January 22, 2025 Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA), a clinical stage biopharmaceutical company that has been developing a treatment for non-alcoholic steatohepatitis ("NASH"), hepatocellular carcinoma ("HCC"), and other chronic liver diseases, reported the launch of a "best efforts" public offering of 27,692,310 shares of common stock (or pre-funded warrants in lieu thereof) with each share of common stock (or pre-funded warrant) accompanied by (i) a series A common warrant to purchase one (1) common share at an exercise price of $0.40 per share and (ii) a series B common warrant to purchase one (1) common share at an exercise price of $0.40 per share (Press release, Hepion Pharmaceuticals, JAN 22, 2025, View Source [SID1234649825]). The combined offering price of each share of common stock together with the accompanying series A and series B common warrants is $0.325, and the combined offering price of each pre-funded warrant together with the accompanying series A and series B common warrants is $0.3249. The gross proceeds of the public offering are expected to be approximately $9.0 million before deducting placement agent fees and offering expenses and are expected to be used to repay certain indebtedness and for general corporate purposes, including working capital, operating expenses and capital expenditures. The closing of the public offering is expected to occur on or about January 23, 2025, subject to the satisfaction of customary closing conditions.

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Laidlaw & Company (UK) Ltd. is acting as the sole placement agent for the offering.

This public offering is being made by the Company pursuant to a registration statement on Form S-1 (File No. 333-284052), which was declared effective by the United States Securities and Exchange Commission ("SEC") on January 21, 2025, and a related registration statement that was filed with the SEC on January 21, 2025 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (and which became automatically effective upon filing). The securities may only be offered by means of a prospectus. Copies of the prospectus may be obtained, when available, at the SEC’s website at www.sec.gov or from Laidlaw & Company (UK) Ltd., 521 5th Avenue, 12th Floor, New York, NY 10175, or by telephone at (212) 953-4900, or by email at [email protected].

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

Genmab Announces Net Sales of DARZALEX® (daratumumab) for 2024

On January 22, 2025 Genmab A/S (Nasdaq: GMAB) reported that worldwide net trade sales of DARZALEX (daratumumab), including sales of the subcutaneous (SC) product (daratumumab and hyaluronidase-fihj, sold under the tradename DARZALEX FASPRO in the U.S.), as reported by J&J were USD 11,670 million in 2024 (Press release, Genmab, JAN 22, 2025, View Source [SID1234649824]). Net trade sales were USD 6,588 million in the U.S. and USD 5,082 million in the rest of the world. Genmab receives royalties on the worldwide net sales of DARZALEX, both the intravenous and SC products, under the exclusive worldwide license to J&J to develop, manufacture and commercialize daratumumab.

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Exicure, Inc. Announces Purchase Agreement with GPCR Therapeutics, Inc.

On January 22, 2025 Exicure, Inc. (Nasdaq: XCUR, "the Company", "Exicure"), reported that on January 19, 2025, Exicure Inc. ("the Company") entered into a Share Purchase Agreement with GPCR Therapeutics, Inc., a Korean corporation ("GPCR"), pursuant to which the Company acquired from GPCR all of the issued and outstanding equity securities of GPCR Therapeutics USA Inc., a California corporation ("GPCR USA") (Press release, Exicure, JAN 22, 2025, View Source [SID1234649823]). The transactions contemplated under the Share Purchase Agreement closed concurrently with execution. GPCR USA was, until immediately prior to closing under the Share Purchase Agreement, a wholly owned subsidiary of GPCR.

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In connection with the closing of the Share Purchase Agreement, the Company and GPCR entered into a License and Collaboration Agreement ("L&C Agreement") to further develop and commercialize GPCR’s technologies related to certain intellectual property and patents. The L&C Agreement requires the Company to make milestone payments to GPCR upon the achievement of specific milestone events relating to clinical trials, marketing authorizations, and net sales, as well as for the Company to pay a recurring royalty payment based on at least 10% of net sales, as set forth in the L&C Agreement. For example, Exicure will pay $30 million for the first annual net sales that exceed $400 million, per the L&C Agreement.

Coherus Presents Final Phase 2 Clinical Casdozokitug Combination Data in Patients with Metastatic Hepatocellular Carcinoma at ASCO-GI 2025

On January 22, 2025 Coherus BioSciences, Inc. (Coherus, NASDAQ: CHRS), reported final data from its Phase 2 open label clinical trial evaluating casdozokitug (casdozo), a selective and potent Interleukin (IL)-27-targeting antibody, in combination with atezolizumab (atezo) and bevacizumab (bev) in treatment naïve patients with unresectable locally advanced or metastatic hepatocellular carcinoma (HCC) (Press release, Coherus Biosciences, JAN 22, 2025, View Source [SID1234649822]). These data are being presented at the 2025 ASCO (Free ASCO Whitepaper) Gastrointestinal Cancers Symposium taking place January 23-25, 2025, in San Francisco, California.

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These data showed an overall response rate of 38% compared to initially announced 27%1, and complete responses (CR) per RECIST v1.1 increased to 17.2% compared to previously announced 10.3%2 and initial assessment of 0%1, demonstrating both an increase in ORR and a deepening of responses compared to previous datasets. Importantly, responses were seen in viral and nonviral disease, and toxicity was consistent with the known safety profiles of atezolizumab and bevacizumab, with no new safety signals identified.

These data support continued evaluation of casdozo with other therapies, including a trial of casdozo/toripalimab (tori)/bev in HCC, which Coherus has now opened for enrollment. Casdozo is a first-in-class antibody, and the only clinical-stage immunomodulatory cytokine antagonist targeting IL-27, an immunoregulatory cytokine involved in suppressing anti-tumor immune responses and an important new target for cancer treatment.

"The casdozo data in HCC demonstrate translation of the preclinical data in liver cancer to first-line HCC cancer patients with efficacy and a favorable safety profile. These data support the ongoing development of IL-27 as a promising novel target for advanced solid tumors," said Rosh Dias, M.D., Coherus’ Chief Medical Officer. "We recently opened enrollment for our randomized, controlled, multinational Phase 2 trial of casdozo in combination with toripalimab, our anti-PD-1 antibody, plus bev. The combination of tori plus bev has demonstrated promising Phase 3 results in HCC3, and we believe the addition of casdozo may further enhance anti-tumor effects and advance our next-generation immuno-oncology combinations focused on overcoming immune suppression in the tumor microenvironment."

"The treatment landscape for liver cancer, particularly for patients who are not eligible for surgery or who are metastatic, has improved in recent years thanks to immunotherapy combinations. However, there is still a clear unmet need for novel treatment options that can further improve survival without added toxicity," said Daneng Li, M.D., Associate Professor in the Department of Medical Oncology & Therapeutics Research and Co-Director, Liver Cancer Collaborative Program, City of Hope Comprehensive Cancer Center. "These final casdozo data continue to be encouraging and compare very favorably in the current treatment landscape, and speak to the potential for its novel anti-IL-27 mechanism to address these substantial unmet needs."

Results from Phase 2 trial evaluating casdozo/atezo/bev combination in HCC

This open-label Phase 2 clinical trial evaluated casdozo in combination with atezo and bev in 30 treatment-naïve patients with unresectable locally advanced or metastatic HCC. Patients received casdozokitug 10 mg/kg IV q3w in combination with atezolizumab (1200 mg) and bevacizumab (15 mg/kg). The primary endpoint was safety and tolerability. Key secondary endpoints included PFS and ORR based on investigator review per RECIST v1.1 (primary) and mRECIST (secondary), as well as disease control rate (DCR).

As of the data cutoff date of September 4, 2024:

Triplet blockade of the IL-27, PD-(L)1 and VEGF inhibitors with casdozo/atezo/bev demonstrated an acceptable safety profile with promising antitumor activity in immunotherapy naïve HCC.

Triplet combination treatment was well tolerated with a side effect profile consistent with known adverse event (AE) profiles of atezo/bev.
Encouraging early activity with casdozo/atezo/bev:
RECIST v1.1: ORR of 38% (n=29) with 11 objective responses, including 5 complete responses and 6 confirmed partial responses; median progression-free survival (PFS) of 8.1 months and disease control rate of 58.6%.
mRECIST: ORR of 43% (n=28) with 12 objective responses, including 5 complete responses and 7 confirmed partial responses; median PFS of 8.4 months and disease control rate of 60.7%.
Biomarker data show peripheral inhibition of IL-27 signaling and immune activation in NK and T cells following treatment, consistent with the casdozo preclinical data and mechanism of action.
These results support continued evaluation of casdozo with VEGF and PD-(L)1 blockade in HCC.

Recent Launch of New Phase 2 trial evaluating casdozo in combination with bev and toripalimab

Coherus has initiated a new randomized Phase 2 study (NCT06679985) evaluating casdozo, in combination with bev and tori, Coherus’ next-generation anti-PD-1 monoclonal antibody, in participants with unresectable locally advanced or metastatic HCC. This randomized, parallel, open-label Phase 2 study is designed to evaluate the safety, efficacy, and Project Optimus4 dosing of the triplet combination. The study is expected to enroll up to 72 patients, who will be randomized to receive one of two biologically active doses of casdozo with tori plus bev or tori plus bev without casdozo.

ASCO-GI 2025 Presentation Details

Title: Results from a phase 2 study of triplet blockade of the IL-27, PD-(L)1, and VEGF pathways with casdozokitug (casdozo, CHS-388) in combination with atezolizumab and bevacizumab in patients with unresectable, locally advanced or metastatic hepatocellular carcinoma (uHCC)
Lead Author: Daneng Li, City of Hope National Comprehensive Cancer Center
Abstract 605: Poster Board #D6
Poster Session B: Cancers of the Pancreas, Small Bowel, and Hepatobiliary Tract
Date and Time: Friday, January 24, 2025; 11:30am – 1:00pm PT

About Hepatocellular Carcinoma

Hepatobiliary cancers include a spectrum of invasive carcinomas arising in the liver (hepatocellular carcinoma; HCC), gall bladder, and bile ducts (collectively called biliary tract cancers). The most common type of primary liver cancer in adults is HCC (accounting for ~90%), which is the third leading cause of cancer-related deaths worldwide. According to the NCI Surveillance, Epidemiology and End Results Program (SEER), there will be an estimated 41,630 new cases and 29,840 deaths from liver and intrahepatic bile duct cancer in the US in 2024.5 The U.S. 5-year relative survival rate for liver and intrahepatic bile duct cancer is 21.7%.5 The liver cancer treatment pattern has changed in recent years with the emergence of immunotherapy combinations and will continue to evolve as more treatment options become available for these highly lethal cancers.

About Casdozokitug

Casdozokitug is a first-in-class human anti-IL-27 antibody designed to inhibit the activity of this immunosuppressive cytokine. Particular tumor types have been identified where IL-27 appears to play an important role in the immunosuppressive tumor microenvironment and may contribute to resistance to treatment with checkpoint inhibitors. Blocking IL-27 with casdozokitug in clinical trials has led to monotherapy tumor growth inhibition and partial responses in patients with non-small cell lung cancer (NSCLC) and renal cell carcinoma (RCC) (NCT04374877). An ongoing trial is studying combinations with PD-(L)1 pathway blockade in NSCLC, and a planned clinical trial will study the triplet combination of IL-27, PD-(L)1, and VEGF pathway blockade in HCC. Casdozokitug has been granted Orphan Drug designation and Fast Track designation for the treatment of refractory hepatocellular carcinoma from the FDA. It is the first IL-27 antibody to enter the clinic.

ArriVent BioPharma Enters Exclusive License with Lepu Biopharma for MRG007, an Antibody Drug Conjugate for the treatment of Gastrointestinal Cancers

On January 21, 2025 ArriVent BioPharma, Inc. (Company or ArriVent) (Nasdaq: AVBP) a clinical-stage company dedicated to accelerating the global development of innovative biopharmaceutical therapeutics, reported that it has entered into an exclusive license agreement with Lepu Biopharma Co., Ltd (Stock Code: 02157.HK) for MRG007, an antibody-drug conjugate (ADC) that can target several gastrointestinal (GI) cancers (Filing, 8-K, ArriVent Biopharma, JAN 22, 2025, View Source [SID1234649821]). Under the terms of the agreement, ArriVent obtains the exclusive rights to develop and commercialize MRG007 worldwide outside of Greater China which includes mainland China, Hong Kong, Macau and Taiwan.

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"We believe MRG007 is a potential best-in-class ADC for the treatment of GI malignancies based on preclinical and IND enabling studies," said Bing Yao, Chairman and Chief Executive Officer of ArriVent. "Expanding our pipeline with MRG007 furthers our mission to develop novel medicines for cancers with high unmet needs worldwide and accelerates our ADC portfolio by adding a program which plans to enter the clinic in the near-term. We look forward to collaborating with Lepu Biopharma in advancing this program globally."

Ziye Sui, Ph.D., Executive Director and Chief Executive Officer of Lepu Biopharma added, "We are very pleased to be working with ArriVent. Lepu Biopharma has been dedicated to promoting the technological advancement of innovative ADCs. We believe MRG007 is one of our potential best-in-class ADC molecules in pre-clinical stage. The agreement is a recognition of our self-dependent R&D capabilities. We look forward to collaborating with ArriVent to advance the development of MRG007 globally and help bring this potential promising therapy to more patients around the world."

MRG007 has shown robust antitumor activity in preclinical models of GI cancers and a favorable therapeutic index based on IND enabling studies. The first IND submission is planned for the first half of 2025 with an initial clinical development focus in CRC, pancreatic and other GI cancers.

Under the terms of the agreement, Lepu Biopharma has granted ArriVent exclusive global rights to develop, manufacture and commercialize MRG007 outside of Greater China. Lepu Biopharma will receive a one-time upfront payment and near-term milestone payments totaling $47 million in cash and is eligible to receive up to $1.16 billion in development, regulatory and sales milestones and tiered royalties on net sales outside of Greater China. The upfront payment and projected research and development costs, including potential milestone payments, do not change ArriVent’s previously announced expected cash runway into 2026.