STipe Therapeutics launches with EUR 20 million Series A financing

On September 30, 2019, STipe Therapeutics (STipe), a company founded to exploit a novel approach to the stimulator of interferon genes (STING) Pathway, a major driver of innate immunity, and regulator of tumorigenesis and autoimmune disorders, launched today with an EUR 20 million Series A financing (Press release, STipe Therapeutics, DEC 14, 2020, View Source [SID1234572788]). The round was co-led by Novo Holdings and Arix Bioscience plc who were joined by Wellington Partners Life Science V Fund and Sunstone Life Science Ventures A/S.

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STipe was spun out from the Department of Biomedicine, Aarhus University, Denmark in 2018 and is working on harnessing the immune response to target a range of tumours, both directly and in combination with other antitumoral agents. The company is developing first in class drugs targeting intracellular protein-protein interactions of the STING Pathway. STipe’s innovative technology has demonstrated that it can significantly increase the sensitivity of the innate immune system to rapidly detect even a small amount of tumour-DNA. This opens up the potential to induce a synergistic immune response alone or in combination with targeted anticancer therapies, immunotherapy or radiation. STipe has identified potential lead compounds that modulate the STING pathway in a novel way, thereby changing the tumour microenvironment and demonstrating antitumor activity preclinically.

Dr Christian Schetter, Executive Chairman of Stipe and former CEO of Rigontec:
"By assembling a group of world-renowned scientific co-founders, alongside experienced company leadership, STipe has the opportunity to revolutionise the treatment of many cancers. I am delighted to be joining the Company as Executive Chairman and look forward to working with my new colleagues to develop novel cancer therapies using our unique technology."

Dr Claus Elsborg Olesen, Chief Executive Officer of STipe commented:
"The successful financing underscores the potential of our innovative technology and product pipeline. We are grateful for the support from our new shareholders and we look forward to leveraging their extensive experience as we develop multi-product opportunities to target cancer."

Dr Jonathan Tobin, Investment Director at Arix Bioscience commented:
"We are excited about the potential of this novel angle on STING biology that has the potential to greatly enhance the efficacy and safety compared to other innate immune targeting technologies. The combination of the founders’ thorough understanding of the science with Christian Schetter’s experience and leadership in the immunotherapy space makes this a company with a great deal of potential."

Morten Graugaard Døssing, Partner at Novo Holdings added:
"The successful fundraise for STipe Therapeutics is testament to the investors’ appetite for excellent science and technology which ultimately can make a tangible difference to patients’ lives. We have been excited to work closely with STipe Therapeutics for the last three years as part of our company creation efforts and congratulate them on this important milestone.

STipe was cofounded and is led by Chief Executive Officer, Dr Claus Elsborg Olesen, a serial life-science entrepreneur in Denmark with extensive experience in founding and developing biotech companies, alongside the Chief Scientific Officer, Dr Martin Roelsgaard Jakobsen, the founding scientist, and Associate Professor at Aarhus University. In connection with the financing Dr Christian Schetter, former CEO of Rigontec, has joined the Company as Executive Chairman and will be also be joined by new Board members, Morten Graugaard Døssing of Novo Holdings, Jonathan Tobin of Arix Bioscience, Regina Hodits of Wellington Partners, and Sten Verland of Sunstone

SELLAS Announces Pricing of $16.2 Million Registered Direct Offering

On December 13, 2020 SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) ("SELLAS" or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel cancer immunotherapies for a broad range of cancer indications, reported that it has entered into a share purchase agreement with institutional investors to purchase approximately $16.2 million of its common stock in a registered direct offering at a purchase price of $7.00 per share (Press release, Sellas Life Sciences, DEC 13, 2020, View Source [SID1234572776]).

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Under the terms of the share purchase agreement, SELLAS has agreed to sell 2,320,000 shares of its common stock. The gross proceeds to the Company from the registered direct offering are expected to be approximately $16.2 million before deducting the placement agent’s fees and other offering expenses. The registered direct offering is expected to close on or about December 16, 2020, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the exclusive lead placement agent in connection with the offering.

The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-233869) previously filed and declared effective by the Securities and Exchange Commission (SEC).

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these shares of common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by SELLAS with the SEC. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3745.

TCR2 Announces RECIST Response in Ovarian Cancer from Ongoing Phase 1/2 Trial of TC-210 in Treatment Refractory Mesothelin-Expressing Solid Tumors

On December 13, 2020 TCR2 Therapeutics Inc. (Nasdaq: TCRR), a clinical-stage immunotherapy company with a pipeline of novel T cell therapies for patients suffering from cancer, reported positive interim data from the ongoing Phase 1 portion of the TC-210 ( gavocabtagene autoleucel or "gavo-cel") Phase 1/2 clinical trial for mesothelin-expressing solid tumors (Press release, TCR2 Therapeutics, DEC 13, 2020, View Source [SID1234572799]). As of the November 24, 2020 data cutoff, three PRs according to RECIST 1.1 criteria have been recorded among the first eight patients treated on study, with our first ovarian cancer patient having achieved a confirmed PR up to month six. In addition, the first patient treated at a higher gavo-cel dose (1×108/m2) without lymphodepletion achieved stable disease through two months without any significant toxicities, which has allowed patients to start treatment at that dose with the addition of lymphodepletion. The toxicity profile remains manageable with only two patients to date exhibiting gavo-cel-related non-hematologic grade >2 toxicity and no evidence of neurotoxicity or on-target, off-tumor toxicity. Translational data further demonstrated TRuC-T cell expansion and cytokine induction in all patients.

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"Although the focus of any Phase 1 trial is safety, the consistency in tumor regression and RECIST responses we have observed with gavo-cel as a single agent supports our belief in the advantages of TRuC-T cells over other cell therapies and the potential for a fundamentally new approach in the treatment of solid tumors," said Garry Menzel, Ph.D., President and Chief Executive Officer of TCR2 Therapeutics. "The HLA independence of our technology allows us to treat a broad population of patients with mesothelin surface expression while leveraging the full T cell receptor complex to drive enhanced trafficking, on-target killing and persistence in the hostile solid tumor microenvironment. Most important, we are delivering clinical and survival benefit to those patients with heavily pre-treated mesothelioma or ovarian cancer."

"The ability of gavo-cel to benefit patients who have become treatment refractory after having failed multiple lines of therapy, including immune checkpoint inhibitors and anti-mesothelin therapy, combined with its manageable safety profile is remarkable. The changes announced today to the Phase 1 trial design, reducing the intra-cohort safety observation periods to 14 days from 28 days, enable us to more rapidly identify the recommended Phase 2 dose and initiate the Phase 2 expansion trial where we will evaluate the efficacy of gavo-cel in four solid tumor indications. Importantly, in the Phase 2 we will explore the impact of gavo-cel retreatment and its combination with checkpoint inhibitor therapy which could further improve on the clinical benefit observed to date," said Alfonso Quintás-Cardama, M.D., Chief Medical Officer of TCR2 Therapeutics.

The primary objectives of the Phase 1 portion of the study are to define the safety profile of gavo-cel in patients whose tumors overexpress mesothelin and to determine the recommended Phase 2 dose (RP2D). Secondary objectives include ORR and disease control rate (DCR). Exploratory objectives include the assessment of expansion, tumor infiltration, and persistence of gavo-cel.

Summary of trial conduct, baseline characteristics and gavo-cel dose:

Safety Protocol: The new clinical trial protocol amendment allows the intra-cohort safety observation periods to be reduced to 14 days from 28 days, allowing the testing of a gavo-cel dose over a minimum of 56 days compared to the previous 84 days.
Screening: Forty-five percent of patients met the mesothelin expression cut-off as defined per protocol.
Manufacturing: Products meeting protocol defined specifications for gavo-cel have been manufactured successfully for each patient from whom apheresis material was sent into production.
Patient Characteristics: Eight patients received gavo-cel including seven with mesothelioma and one with ovarian cancer with a median age of 65 years (range, 36-84 years). The median number of prior therapies was 5.5 (range, 3-9), including immune checkpoint inhibitor therapy (n=6) and anti-mesothelin therapies (n=3).
Gavo-cel Dose: The eight patients disclosed to date have received gavo-cel at the following dose level (DL):
DL 0: 5×107 cells/m2 without lymphodepletion – 1 mesothelioma
DL 1: 5×107 cells/m2 following lymphodepletion – 5 mesothelioma and 1 ovarian cancer
DL 2: 1×108 cells/m2 without lymphodepletion – 1 mesothelioma
Key clinical findings from the first eight patients treated with gavo-cel:

Safety: Gavo-cel was generally well tolerated, with no patients experiencing neurotoxicity or on-target, off-tumor toxicities. Two (25%) patients experienced Cytokine Release Syndrome (CRS) grade 3, which was successfully managed with tocilizumab and corticosteroids.
Clinical Activity: All eight patients have had at least one disease response assessment. The DCR was 100%, with all patients experiencing tumor regression. The median decrease in the sum of diameters of target lesions was 43% (range, 5% to 75%). The ORR was 38% (2 confirmed and 1 unconfirmed PRs) according to RECIST v1.1 criteria, including one patient who achieved a complete metabolic response.
Translational Data: Peak gavo-cel expansion (Cmax) occurred between days 7 and 23. Cmax increased when gavo-cel was administered following lymphodepletion. The median peak gavo-cel expansion was 811.9 copies/µg of genomic DNA (range, 520 to 5,901 copies/µg). Cytokine induction post-gavo-cel infusion was observed in all evaluable patients, which is indicative of mesothelin target engagement.
About the Phase 1/2 Clinical Trial in Advanced Mesothelin-Expressing Solid Tumors

The Phase 1/2 clinical trial (NCT03907852) is evaluating the safety and efficacy of gavocabtagene autoleucel ("gavo-cel"; TC-210), TCR2’s T cell receptor fusion construct directed against mesothelin. The trial is enrolling patients with mesothelin expressing NSCLC, ovarian cancer, cholangiocarcinoma, and malignant pleural/peritoneal mesothelioma. The Phase 1 dose escalation portion of the clinical trial utilizes a modified 3+3 design with four increasing gavo-cel doses. At each dose, gavo-cel will be tested in two separate dose levels: first without lymphodepletion and then following lymphodepleting chemotherapy. The Phase 1 portion of the clinical trial is ongoing.

In the Phase 2 portion of the clinical trial, approximately 50 patients are planned to receive gavo-cel at the RP2D in four distinct cohorts according to their cancer diagnosis: NSCLC, ovarian cancer, malignant pleural/peritoneal mesothelioma and cholangiocarcinoma. Each cohort will include ten patients, except the NSCLC cohort which will include 20 patients with eight patients to receive gavo-cel as single agent and 12 patients to receive gavo-cel in combination with a programmed cell death 1 (PD-1) blocking antibody.

About Mesothelin-Expressing Solid Tumors

Mesothelin is a cell-surface glycoprotein highly expressed in a wide range of solid tumors, including malignant pleural/peritoneal mesothelioma, ovarian cancer, cholangiocarcinoma, breast cancer, pancreatic cancer and others. Overexpression of mesothelin is associated with poorer prognosis in some cancers due to its active role in both malignant transformation and tumor aggressiveness by promoting cancer cell proliferation, invasion, and metastasis. Of the wide range of solid tumors expressing mesothelin, non-small cell lung cancer, ovarian cancer, mesothelioma and cholangiocarcinoma represent a patient population up to 80,000 annually in the United States alone.

TCR2 Therapeutics Conference Call and Webcast

TCR2 Therapeutics will host a conference call and webcast on Monday, December 14th at 8:00am E.T. The webcast and presentation will be made available on the TCR2 Therapeutics website in the Investors section under Events at View Source Following the live audio webcast, a replay will be available on the Company’s website for approximately 30 days.

Senhwa Biosciences’s Positive Topline Cholangiocarcinoma Data Abstract Accepted by 2021 ASCO Gastrointestinal Cancers Symposium

On December 13, 2020 Senhwa Biosciences, Inc. (TPEx: 6492), a clinical-stage biopharmaceutical company focused on next generation DNA Damage Response (DDR) therapeutics for the treatment of cancer, reported their Abstract on Cholangiocarcinoma treatment with Silmitasertib (CX-4945) has been accepted for oral/poster presentation at the upcoming American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Gastrointestinal Cancers Symposium (ASCO GI) in San Francisco, 15-17 January, 2021 (Press release, Senhwa Biosciences, DEC 13, 2020, View Source [SID1234572778]). Due to the COVID-19 pandemic, the event will be hosted virtually.

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Senhwa was invited to present positive topline results from their global phase II trial, evaluating the combination of Silmitasertib plus Gemcitabine/Cisplatin compared to Gemcitabine/Cisplatin alone in the frontline treatment of patients with Cholangiocarcinoma. The trial met its primary endpoint at a pre-specified interim analysis demonstrating a statistically significant and clinically meaningful improvement in progression-free survival (PFS) (P<0.05), and was stopped early because superior efficacy was demonstrated. PFS was assessed by an independent statistician.

The full abstract will be made available online via View Source at 5:00 PM (EST) on 11 January, 2021.

More details of the CCA Treatment Abstract at the 2021 ASCO (Free ASCO Whitepaper) GI Symposium:

Abstract Title: Silmitasertib (CX-4945) in combination with gemcitabine and cisplatin as first-line treatment for patients with locally advanced or metastatic cholangiocarcinoma: A phase Ib/II study.
Abstract Perm ID: 312
Session Title: Poster Highlights: Targeted Approaches and Multimodality
Session Date and Time: 1/17/2021, 2:30 PM-3:15 PM (PST)
About Silmitasertib

Silmitasertib is a first-in-class small molecule drug that targets CK2 and acts as a CK2-inhibitor. Silmitasertib is safe and well-tolerated in humans. To date, three Phase I trials of Silmitasertib in cancer patients have been completed; currently, there is one ongoing Phase I and two ongoing Phase II studies. In December 2016, Silmitasertib was granted Orphan Drug Designation by the U.S. FDA for the treatment of Cholangiocarcinoma. In July 2020, Silmitasertib was granted Rare Pediatric Disease Designation to treat Medulloblastoma by the U.S. FDA. An eIND was granted by the U.S. FDA on August 27, 2020, to Dr. Rayyan at BUMCP to treat a patient with severe COVID-19.

Entry into a Material Definitive Agreement

On December 12, 2020, Inhibitor Therapeutics, Inc., a Delaware corporation (the "Company") and Mayne Pharma Ventures Pty Ltd, the Company’s majority stockholder ("Mayne Pharma"), reported that it entered into a letter agreement for a term debt facility (the "Loan Agreement") pursuant to which Mayne Pharma provided an aggregate $231,000 credit facility to the Company (the "Facility") (Filing, 8-K, HedgePath Pharmaceuticals, DEC 12, 2020, View Source [SID1234572984]). The Facility bears interest at the rate equal to the interest rate tied to the US Bank Prime Rate plus 5.00% (the "Interest Rate") with a maturity date of twenty four (24) months from the date of the first drawdown (the "Maturity Date"). The Interest Rate shall be adjusted for each drawdown on the Facility in accordance with changes in the monthly average of the US Bank Prime Rate, as reported in the Federal Reserve Statistical Release H .15 for the month preceding the week in which the Company shall make a drawdown against the Facility. Proceeds drawn from the Facility will be used by the Company for general working capital and corporate purposes.

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The Facility shall be available to the Company as follows: (i) $81,000 may be drawn upon request at any time in the first annual quarter of the Facility starting December 14, 2020 and (ii) so long as there is no event of default and Mayne Pharma does not give notice in its discretion 30 days before the start of a quarter that it is discontinuing the funding, $75,000 may be drawn in the second and third annual quarters of the Facility, respectively. Any drawdown by the Company must equal or exceed $25,000. The Company shall have one twelve month repayment free advance period from its first drawdown on the Facility. Each other advance on the Facility will be amortized over twelve equal monthly payments of principal plus interest. No premium is payable in the event that the Company pays all principal, interest and other outstanding amounts due to Mayne Pharma prior to the Maturity Date.

The Facility is unsecured, contains no financial covenants, requires no guarantees and is not accompanied by any equity component such as warrants. The Loan Agreement includes certain limited representations and warranties and negative covenants of the Company.

An event of default under the Loan Agreement includes, among other things, (i) the Company breaches its obligations under the Loan Agreement, and where that breach is capable of remedy it does not remedy the breach within 20 business days after receipt of a notice from the Mayne Pharma of the breach, (ii) Mayne Pharma validly terminates the Third Amended and Restated Supply and License Agreement dated December 17, 2018 between the Company and Mayne Pharma, or (iii) the Company becomes insolvent, including by becoming the subject of the filing or institution of bankruptcy, liquidation or dissolution proceedings.

The summary description of the Loan Agreement do not purport to be complete and are qualified in their entirety by reference to complete text of such agreements, copies of which is filed as Exhibit 10.1 to Current Report on Form 8-K and are incorporated herein by reference.

The Loan Agreement was negotiated and approved on behalf of the Company by a special committee of disinterested, independent members of the Company’s Board of Directors (the "Board") which was formed on November 17, 2020 for such purpose. The special Board committee consisted of W. Mark Watson, R. Dana Ono and Debra Peattie, who are each disinterested with respect to Mayne Pharma.