On June 7, 2020 Clover Biopharmaceuticals, a global clinical-stage biotechnology company focused on developing novel and transformative biologic therapies, reported the completion of a US$ 24 million Series B-2 financing from GL Ventures (Press release, Clover Biopharmaceuticals, JUN 7, 2020, View Source [SID1234560883]). This financing round brings Clover’s total capital raised since 2016 to over US$ 140 million.

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"We are pleased to complete this financing round with GL Ventures, as it will allow us to continue our efforts in expanding internal R&D capabilities and building a world-class team," said Joshua Liang, Chief Strategy Officer & Board Director of Clover Biopharmaceuticals.

"We are thrilled to partner with Clover. We look forward to supporting this wonderful team as they create innovative therapies to address unmet medical needs across the globe," stated the GL Ventures team.

Clover Biopharmaceuticals is the innovator of Trimer-Tag©, an innovative drug development platform which allows the production of novel, covalently-trimerized fusion proteins. Many major disease targets are trimerization-dependent such as the tumor necrosis factor (TNF) superfamily (involved in extrinsic apoptosis, immune co-stimulation and inflammation) as well as enveloped RNA virus antigens responsible for entry into host cells. Clover is using its Trimer-Tag© technology with global IP position to develop recombinant trimerized fusion proteins that are able to effectively target these previously undruggable pathways. Trimer-Tag© has significant implications for the treatment of some of the most prevalent diseases across the world.

On June 7, 2020 HitGen (688222.SH) reported that it has entered into a drug discovery research collaboration with Evotec SE to identify small molecule leads against targets of interest to Evotec SE in the field of anti-infectives (Press release, HitGen, JUN 7, 2020, View Source [SID1234560882]). HitGen will apply its platform technology, based on the design, synthesis and screening of DNA-encoded libraries (DEL) to discover compounds that bind to certain targets. The identified compounds will be exclusively licensed to Evotec SE. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment and license fee from Evotec SE.

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"We are delighted to enter this collaboration with Evotec SE, a leading drug discovery alliance and development partnership company with tremendous success in collaborative R&D. We look forward to working closely with Evotec SE research teams to deliver novel small molecules to their programs," said Dr. Jin Li, Chairman of the Board and Chief Executive Officer of HitGen.

"HitGen DEL screening platform offers tremendous potential to identify a small molecule binder to Evotec’s target of interest," said Kara Carter, Executive Vice President Infectious Disease from Evotec SE.

On June 6, 2023 Polymed Biopharmaceuticals reported it has closed an RMB 15 million series pre-A funding round invested by Zhejiang Sundoc Pharmaceutical Science and Tech Co., Ltd (Press release, Polymed Biopharmaceuticals, JUN 6, 2020, View Source [SID1234630611]).

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The fund from this round will be used for building up and perfecting Polymed’s PROTAC Platform, based on which several PROTAC projects will be carried out to solve the "undruggable targets" problem, and for advancing differentiable drug candidates into preclinical studies.

Doctor Jason Xiang, the CEO of Polymed, believes that the advancement of pharmaceutical industry heavily depends on the breakthrough in technology innovation. The PROTAC approach can clear out the abnormal proteins that cause cancer or autoimmune disease through the proteasome degradation pathway inside the cells, thus may become one important way to solve the "undruggable target" problem. The successful implementation may lead to a new wave of innovative breakthrough in pharmaceutical industry.

On June 5, 2020 BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160), a commercial-stage biotechnology company focused on developing and commercializing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, reported that the Company will participate in a fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference on Wednesday, June 10, 2020 at 8:50 a.m. ET (Press release, BeiGene, JUN 5, 2020, View Source [SID1234560881]).

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A live webcast of the conference can be accessed from the investors section of BeiGene’s website at View Source or View Source An archived replay will be available for 90 days following the event.

On June 5, 2020 Ryvu Therapeutics (WSE: RVU), a clinical-stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology, reported that it has signed a grant agreement with the National Centre for Research and Development for the development of targeted immuno-oncology therapy (Press release, Ryvu Therapeutics, JUN 5, 2020, View Source [SID1234560877]).

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This grant provides Ryvu with almost USD 5.6 million of non-dilutive financing to discover, develop and select a clinical candidate targeting cancers which had been considered in the past as largely undruggable using rational approaches. Total net value of the project amounts to over USD 8.9 million and the anticipated project duration is until December 2023.

The aim of the project is development of a novel drug candidate, characterized in Phase I clinical study. The selected candidate should overcome the limitations of current immunotherapies, allowing effective and safe treatment options for patients with aggressive, refractory tumors. As a result of the conducted research, a small molecule immunomodulator of the patient’s response against own cancer cells, serving as a strictly personalized therapy, will be identified.

The project is already in progress and the analysis of publicly available and commercial databases has confirmed that currently most advanced, compounds developed by Ryvu in this project, have the potential to become first-in-class medicines.

"Immuno-oncology has undeniably revolutionized the approach to cancer treatment. Immunotherapies offer a new chance to create an effective therapy for patients with aggressive, treatment-resistant cancers. With the financial support of the National Centre for Research and Development we can continue our research in the immune-oncology area at a full speed," commented Krzysztof Brzozka, PhD, Chief Scientific Officer and Executive VP at Ryvu Therapeutics.