On July 7, 2020 Vor Biopharma, an oncology company pioneering engineered hematopoietic stem cells (eHSCs) for the treatment of cancer, reported it has raised $110 million in a Series B financing (Press release, Vor BioPharma, JUL 7, 2020, View Source [SID1234561713]). Proceeds will advance the company’s lead candidate VOR33 into clinical trials, deepen its portfolio, and accelerate the validation of additional targets for its scientific platform, which is designed to remove redundant proteins so that transplanted stem cells become invisible to targeted therapies while leaving diseased cells vulnerable. Vor’s treatment strategy has the potential to bring a revolutionary treatment paradigm for patients with acute myeloid leukemia and other hematologic malignancies.

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"Vor has an elegant approach to engineering hematopoietic stem cells that we believe is amongst the most promising innovations in oncology," said Joshua Resnick, MD, Managing Director at RA Capital Management. "We are proud to support the efforts of their impressive team of experienced leaders and drug developers as they work aggressively to establish a new standard of care in stem cell transplants and forge ahead into first-in-human clinical studies."

RA Capital Management led the Series B financing, along with a diverse group of well-respected new investors including Fidelity Management & Research Company, LLC, Pagliuca Family Office, Alexandria Venture Investments, and other undisclosed investors, including additional institutional crossover investors. Existing investors 5AM Ventures, Johnson & Johnson Innovation — JJDC, Inc. (JJDC), Osage University Partners, and co-founder PureTech Health participated in the financing.

"The high caliber of investors participating in this financing underscores the tremendous potential of our eHSC platform," said Robert Ang, MBBS, MBA, Vor’s President and Chief Executive Officer. "We have ambitious goals for the coming year, and this financing is an important step as we prepare to treat cancer patients in our first clinical trials."

On July 7, 2020 AbbVie (NYSE: ABBV) reported that it will announce its second-quarter 2020 financial results on Friday, July 31, 2020, before the market opens (Press release, AbbVie, JUL 7, 2020, View Source [SID1234561712]). AbbVie will host a live webcast of the earnings conference call at 8 a.m. Central time. It will be accessible through AbbVie’s Investor Relations website investors.abbvie.com. An archived edition of the session will be available later that day.

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On July 7, 2020 Crescendo Biologics Ltd (Crescendo), the drug developer of novel, targeted T cell enhancing therapeutics reported that it has signed a pre-clinical collaboration agreement with Orano Med, a nuclear biotech company developing innovative targeted therapies in oncology (Press release, Crescendo Biologics, JUL 7, 2020, View Source [SID1234561698]).

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Orano Med is developing a new generation of Targeted Alpha Therapies (TAT) using the unique properties of lead-212 (²¹²Pb), a rare radioisotope. With this innovative approach, Orano Med is generating novel therapeutics capable of specifically recognising and destroying cancer cells while limiting the impact on nearby healthy tissues, a cutting-edge treatment for cancers with high unmet need.

Crescendo and Orano Med are working to exemplify the benefit of using Humabody VH for precise targeting of Orano Med’s TAT.

Theodora Harold, CEO of Crescendo Biologics, commented:
"Orano Med is one of the leaders in the field of nuclear medicine. Collaborating on its Targeted Alpha Therapy is an exciting opportunity for Crescendo to demonstrate the advantages of Humabody VHs for exquisitely targeted delivery of a potent alpha-emitting payload. We welcome the opportunity to work with the team at Orano Med."

On July 6, 2020 Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein therapeutics known as DARPin therapeutics, reported the launch of a private placement of up to approximately 5.5 million newly issued shares with a nominal value of CHF 0.10 each (the Offered Shares), to be issued from existing authorized share capital of the company under exclusion of the existing shareholders’ pre-emptive rights by way of an accelerated bookbuilding (the Offering) (Press release, Molecular Partners, JUL 6, 2020, View Source [SID1234655789]).

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The offer price will be determined through an accelerated bookbuilding process (the Bookbuilding) which starts immediately and the Offered Shares will be offered exclusively to (a) professional investors in Switzerland on the basis of applicable exemptions from the prospectus requirements under the Swiss Financial Services Act and outside of the United States in compliance with Regulation S under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act), (b) certain qualifying investors outside of Switzerland and outside of the United States by way of private offerings in reliance on Regulation S under the U.S. Securities Act and exemptions from prospectus, registration and/or filing requirements available under local securities laws and (c) a limited number of persons within the United States who are reasonably believed to be qualified institutional buyers in a private placement pursuant to Section 4(a)(2) of the U.S. Securities Act or pursuant to another exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.

The offer price of the Offered Shares and the final number of shares will be announced upon completion of the Bookbuilding, which is expected prior to market opening on July 7, 2020.

As a result of the capital increase and assuming all Offered Shares are placed, Molecular Partners AG’s registered share capital will increase by approximately 25% from CHF 2,160,119.20 to CHF 2,712,928.10, divided into 27,129,281 registered shares with a nominal value of CHF 0.10 each. Molecular Partners AG intends to use the net proceeds from the Offering to fund R&D activities as well as for general corporate purposes.

The Offered Shares, if issued, are expected to be listed and admitted to trading on SIX Swiss Exchange as of July 9, 2020. Payment and settlement is expected to take place on the same date. The Offered Shares will rank pari passu with the existing shares.

The company, members of the board of directors and members of the management board have agreed to a 90-day lock-up period after settlement of the Offered Shares, subject to certain customary exceptions.

SVB Leerink LLC, Cowen and Company, LLC, Credit Suisse AG and Van Lanschot Kempen Wealth Management N.V. are acting as Joint Bookrunners.

On July 6, 2020 Orega Biotech reported the nomination of Jeremy Bastid as Chief Executive Officer (Directeur Général) effective as of July 1st, 2020 (Press release, OREGA BIOTECH, JUL 6, 2020, View Source [SID1234563949]).

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"I have worked with Jeremy since the inception of OREGA Biotech" commented Gilles Alberici, President of Octalfa and Chairman of OREGA Biotech. "He has played a prominent role in the development of the company, both on the R&D and the business aspects. No doubt that his promotion as CEO of OREGA Biotech will help the company to further grow", he added.

"I am honored to be appointed new CEO and look forward to leading OREGA Biotech with the support from our Board", commented Jeremy Bastid. "I am thrilled to lead this remarkable team and I am grateful for our Board’s confidence".