On March 24, 2025 Clarity Pharmaceuticals (ASX: CU6) ("Clarity" or "Company"), a clinical-stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, reported the signing of a new Supply Agreement for copper-64 with UQ AIBN (Press release, Clarity Pharmaceuticals, MAR 24, 2025, View Source [SID1234651364]).

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The UQ AIBN Supply Agreement of copper-64 will support clinical trials with 64Cu-SAR-bisPSMA in Australia, offering this promising imaging agent to prostate cancer patients in need of novel diagnostic options. Additionally, the Agreement will support the rollout of 2 theranostic pre-clinical programs, 64/67Cu-SAR-bisFAP and 64/67Cu-SAR- trastuzumab.

With multiple clinical trials with 64Cu-SAR-bisPSMA, such as the ongoing registrational CLARIFY trial, Phase I/IIa theranostic SECuRE trial and the upcoming registrational Phase III AMPLIFY trial, as well as the Co-PSMA IIT, led by Prof Louise Emmett at St Vincent’s Hospital Sydney, the Agreement will provide additional capacity of copper-64 to ensure abundant and seamless supply of the isotope. The recent receipt of 2 Fast Track Designations (FTDs) by the US Food and Drug Administration (FDA) for the diagnostic 64Cu-SAR-bisPSMA product1,2 will enable Clarity to accelerate the development of its program with this optimised agent in the pre-prostatectomy setting as well as in patients with biochemical recurrence (BCR) of prostate cancer. The granting of these FTDs is indicative of the high unmet need in prostate cancer imaging despite the use of first-generation PSMA products in the market and is testament to the high quality of science and data Clarity is generating with this product.

64Cu-SAR-bisPSMA differentiates itself from the current generation of radio-diagnostics in 2 distinct ways. Firstly, the dimer "bis" molecule enables increased uptake and retention of the imaging agent in tumours3,4. Similar to Clarity’s platform SAR Technology, it has been developed in Australia, at the benchtop of Australian science, with the intent of overcoming the shortfalls of the current generation of prostate-specific membrane antigen (PSMA) targeting products. The clinical data that Clarity has generated to date confirms these results initially seen in preclinical development3,4. The second advantage is associated with the benefits of the copper-64 isotope, which has a half-life much longer (12.7 hours) than that of gallium-68 and fluorine-18 (less than 2 hours). This enables next-day imaging, a feature not available with the current-generation radio-diagnostics. Clarity’s clinical trials with 64Cu-SAR-bisPSMA to date have demonstrated a number of benefits of next-day imaging. In the Phase II COBRA study, next-day 64Cu-SAR-bisPSMA imaging enabled detection of lesions in up to 80% of participants in comparison to up to 58% on the same-day imaging, and the number of lesions detected on the next-day scans almost doubled in comparison to the same-day scans5.

In addition to the clinical benefits, the longer half-life of copper-64 enables manufacturing and logistical advantages. While the current-generation of radio-diagnostics require an expensive and extensive network of cyclotrons, radioisotope generators and radiopharmacies next to imaging sites due to their short half-life, resulting in a short shelf-life, copper-64 can be centrally produced in large volumes on existing cyclotrons. Copper-64 based diagnostics can then be manufactured and shipped as finished drug products to any treatment facility in the country, overcoming the many issues with product shortage and expiry, patient scheduling and limited geographic distribution of the current generation of products. Products like PYLARIFY are already hitting supply limits in the US due to limited cyclotron availability and the competing use of fluorine-18, which is prioritised for fluorodeoxiglucose (FDG). In contrast, copper-64 can be made on the same cyclotrons as fluorine-18, such as that at UQ AIBN, but at different times to fluorine-18, which has to be manufactured strictly in the morning in order to deliver it to patients before the half-life expires.

Clarity’s Executive Chairperson, Dr Alan Taylor, commented, "We are pleased to continue building a successful Australian life-sciences story and benefiting Australian patients and their treating clinicians. We are proud to have been able to progress our technology from the benchtop at some of the most prominent institutes in Australia to Phase III trials at leading clinical sites in Australia and the US. This agreement with the UQ AIBN not only builds on years of close ties between Clarity and the Australian scientific and clinical communities but also reflects our strong focus on continued partnership and synergies that can be derived from these important collaborations. We are dedicated to continuing to work with the leading research and development (R&D) organisations in Australia and giving back to the scientific and clinical community in our country in order to get closer to our ultimate goal of improving treatment outcomes for people with cancer.

"UQ advanced imaging has been a long-standing collaborator of Clarity through a number of R&D initiatives, including being an active participant in the ARC Hub for AMTAR. We have experienced first-hand the strong scientific focus, drive for innovation and the collaborative community and look forward to continuing working together to bring novel products to patients in need of better diagnostic and treatment options.

"The AIBN houses an on-site cyclotron and state-of-the-art radiochemistry facilities, supplying copper-64 every week. Securing a strong supply chain is pivotal as we ramp up our clinical trials and look to generate sufficient data for the approval of 64Cu-SAR-bisPSMA. This centralised distribution strategy with the AIBN supplying copper-64 for the manufacturing of our innovative 64Cu-SAR-bisPSMA diagnostic agent will ensure that patients and clinicians have secure and seamless access to the product as we continue to generate exciting data in our trials.

"We are also committed to exploring new ways in which we can leverage our unique advantages in the development of Targeted Copper Theranostics (TCTs) to bring new products for indications with high unmet needs. As such, the Supply Agreement will also support the recently announced development of SAR-bisFAP and SAR-trastuzumab theranostic programs."

About SAR-bisPSMA
SAR-bisPSMA derives its name from the word "bis", which reflects a novel approach of connecting two PSMA-targeting agents to Clarity’s proprietary sarcophagine (SAR) technology that securely holds copper isotopes inside a cage-like structure, called a chelator. Unlike other commercially available chelators, the SAR technology prevents copper leakage into the body. SAR-bisPSMA is a Targeted Copper Theranostic (TCT) that can be used with isotopes of copper-64 (Cu-64 or 64Cu) for imaging and copper-67 (Cu-67 or 67Cu) for therapy.

67Cu-SAR-bisPSMA and 64Cu-SAR-bisPSMA are unregistered products. The safety and efficacy of 67Cu-SAR-bisPSMA and 64Cu-SAR-bisPSMA have not been assessed by health authorities such as the US FDA or the Therapeutic Goods Administration (TGA). There is no guarantee that these products will become commercially available.

On March 24, 2025 Anixa Biosciences, Inc. ("Anixa" or the "Company") (NASDAQ: ANIX), a biotechnology company focused on the treatment and prevention of cancer, reported that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a key patent application covering its ovarian cancer vaccine technology (Press release, Anixa Biosciences, MAR 24, 2025, View Source [SID1234651361]). The patent includes broad claims related to methods of eliciting an immune response targeting Anti-Mullerian Hormone Receptor, Type II (AMHR2), a promising target for ovarian cancer prevention and treatment.

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Anixa’s ovarian cancer vaccine, being developed in collaboration with Cleveland Clinic and the National Cancer Institute, represents a novel approach to preventing and treating ovarian cancer, particularly among high-risk populations such as those carrying BRCA mutations or with a family history of the disease.

The allowed claims include methods of administering an immunogenic composition comprising a nucleic acid encoding the AMHR2 polypeptide, specifically the extracellular domain of human AMHR2, to elicit an AMHR2-specific immune response.

Dr. Amit Kumar, Chairman and CEO of Anixa Biosciences, commented, "Receiving this Notice of Allowance from the USPTO is a significant milestone in our mission to develop a preventative and therapeutic ovarian cancer vaccine. The allowed claims provide broad protection for the various components and delivery mechanisms of our vaccine technology. This strengthens our intellectual property position and supports the continued advancement of our program."

On March 24, 2025 Adagene Inc. ("Adagene") (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel anti-body-based therapies, reported financial results for the full year 2024 and provided corporate updates (Press release, Adagene, MAR 24, 2025, View Source [SID1234651360]).

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"The clinical data we generated in 2024 with ADG126 gives us great confidence in our ability to provide patients with colorectal cancer a tolerable, efficacious treatment option. These data also provide the basis for us to expand our study in microsatellite stable colorectal cancer (MSS CRC) to include earlier lines of therapy and patients with liver metastases, a patient subpopulation that has historically seen little to no benefit from checkpoint inhibitors," said Peter Luo, Ph.D., Chairman, CEO and President of R&D at Adagene. "Regulatory T cells, a primary mechanism of resistance, can be overcome through higher and more frequent dosing of a conditionally active anti-CTLA-4 antibody. We continue to believe that ADG126 can transform immunotherapy in combination with anti-PD-1 and other therapies. Our SAFEbody masking capability enables the best therapeutic index among all CTLA-4 programs, showing the potential to unlock therapeutic value with a target previously limited by safety concerns."

Dr. Luo continued, "In addition to ADG126, we have also utilized our SAFEbody masking technology to create T cell engagers (TCEs) that can link T cells to any number of antigens presented on tumor cells. These masked TCEs can recruit the immune system for conditional cytotoxicity, shrinking tumors and prolonging patient survival. The combination of TCEs with ADG126, which depletes CTLA-4 mediated regulatory T cells, is expected to enhance the response to TCE therapy. We look forward to sharing more on our TCE programs going forward."

PIPELINE HIGHLIGHTS

ADG126 – Phase 1b/2 data:

· 20 mg/kg loading dose followed by 10 mg/kg Q3W in combination with pembrolizumab, Merck’s (known as MSD outside of the US and Canada) anti-PD-1 therapy, KEYTRUDA (pembrolizumab), cohort achieved an improved ORR of 33%.

o All responders remain on treatment at a maintenance dose of 10 mg/kg Q3W or 10 mg/kg Q6W in combination with pembrolizumab

· Good tolerability with a manageable safety profile for ADG126 + pembrolizumab combo, with overall low discontinuation rate (6%) for the MSS CRC expansion cohort. No Grade 4/5 safety events were seen to date.

· Based on robust safety data of ADG126 at 20 mg/kg Q6W in combination with pembrolizumab, the efficacy of this dosing regimen is being evaluated in the cohort expansion stage of the Phase 1b/2 trial.

· Company also plans to evaluate a broader patient population, including patients with liver metastases, by combining with standard of care medicines, a combination that has been limited by safety concerns in the past.

· Investigator initiated Phase 2 trial of ADG126 in neoadjuvant colorectal cancer to begin enrolling patients in April at the National University Cancer Institute in Singapore

ADG138, a SAFEbody engineered T cell engager targeting HER2, has shown a wide therapeutic window and extended half-life for prolonged circulation in the tumor micro-environment in preclinical models. ADG138 is currently IND-ready.

ADG152, a SAFEbody engineered T cell engager targeting CD20, is designed to conditionally bind to CD20 on tumor cells and show negligible interaction with healthy cells, yielding a 100-fold reduction in cytokine release syndrome in preclinical models. ADG152 is currently in the IND-enabling phase.

The Company is pursuing strategic partnerships to advance the SAFEbody T cell engager programs.

ONGOING COLLABORATIONS

Exelixis: In June 2023, Adagene received a US$3.0 million milestone payment from Exelixis for the successful nomination of lead SAFEbody candidates for the second collaboration program under a technology licensing agreement to develop novel masked antibody-drug conjugate candidates. Including upfront and other milestone payments, we have received over US$18 million in total from Exelixis to date.

Sanofi: Adagene and Sanofi are collaborating to develop both bispecific and monoclonal SAFEbody antibody candidates, preparing preclinical candidates using Adagene’s SAFEbody precision masking technology for future development and commercialization by Sanofi. The collaboration announced in March 2022 included an upfront payment of US$17.5 million for the initial two programs, an option fee for two additional programs, potential milestone payments of up to US$2.5 billion, and tiered royalties.

Roche: Roche is sponsoring and conducting a phase 1b/2 multi-national trial to evaluate ADG126 in a triple combination with atezolizumab and bevacizumab in first-line hepatocellular carcinoma (HCC). To date, the combination has been well tolerated. Adagene retains global development and commercialization rights to ADG126.

2025 MILESTONES & CASH RUNWAY

Consistent with ongoing initiatives to prudently manage its cash balance, Adagene expects its current cash balance to fund activities into late 2026, with the following milestones expected in 2025:

· Provide longer-term time-to-event data from the existing Ph 1b/2 study of ADG126 + pembrolizumab in 3L+ MSS CRC

· Update 20 mg/kg loading dose cohort for durability of response (DOR and other time-to-event endpoints)

· Conduct EOP1 meeting with FDA by Q3 to obtain their endorsement on the proposed dose regimens, trial design and patient population

· Initiate evaluation of ADG126 + pembrolizumab in combination with standard of care in MSS CRC patients including those with liver metastases, beginning Q2

· Provide initial clinical data from investigator initiated Phase 2 trial for neoadjuvant ADG126 in colorectal cancer

· Establish additional collaboration/licensing agreements

CORPORATE UPDATES

JC Xu, M.D., Ph.D., Adagene’s Chief Strategy Officer and Head of Regulatory Affairs, has recently transitioned from a full-time employee of Adagene to a consulting role. JC will continue to support the Company’s development while serving as a consultant.

Ms. Yumeng Wang, a member of Adagene’s Board of Directors and a Vice President at General Atlantic, will step down from the Board upon filing of the Company’s 2024 Annual Report on form 20-F due to personal reason. Ms. Wang has served on Adagene’s Board since 2023 and provided invaluable guidance as Adagene has developed ADG126 through first-in-human clinical trials.

Mervyn Turner, Ph.D., Independent Director of Adagene’s Board of Directors, will complete his term as Independent Director concurrent with the filing of the Company’s 2024 Annual Report on form 20-F, and transition to an advisory role. Mr. Turner has served on Adagene’s Board of Directors since April of 2023 and will continue to provide strategic guidance to the Company in this advisory capacity.

FINANCIAL HIGHLIGHTS

Cash and Cash Equivalents:

Cash and cash equivalents were US$85.2 million as of December 31, 2024, compared to US$109.9 million as of December 31, 2023. Total borrowings from commercial banks in China (denominated in RMB) decreased to US$18.2 million as of December 31, 2024 from US$21.9 million as of December 31, 2023. The associated loan proceeds were primarily used to support the company’s R&D activities.

Net Revenue:

Net revenue was US$0.1 million for the year ended December 31, 2024, compared to US$18.1 million in 2023.

Research and Development (R&D) Expenses:

R&D expenses were US$28.8 million for the year ended December 31, 2024, compared to US$36.6 million in 2023. The decrease of approximately 21% in R&D expenses reflects clinical focus on and prioritization of the company’s masked, anti-CTLA-4 SAFEbody ADG126.

Administrative Expenses:

Administrative expenses were US$7.3 million for the year ended December 31, 2024, compared to US$8.7 million in 2023. The decrease was due to both a reduction in personnel and in office-related expenses as a result of cost-control measures.

Other Operating Income, Net:

Other operating income, net was nil for the year ended December 31, 2024 compared to US$3.5 million in 2023. The amount of US$3.5 million included a one-time compensation payment from a contract manufacturer for a preclinical-related outsourcing arrangement.

Net Loss:

Net loss attributable to Adagene Inc.’s shareholders was US$33.4 million for the year ended December 31, 2024, compared to US$18.9 million in 2023.

Ordinary Shares Outstanding:

As of December 31, 2024, there were 58,886,944 ordinary shares issued and outstanding. Each American depository share, or ADS, represents one and one quarter (1.25) ordinary shares of the company.

Non-GAAP Net Loss:

Non-GAAP net loss, which is defined as net loss attributable to ordinary shareholders for the period after excluding share-based compensation expenses, was US$28.5 million for the year ended December 31, 2024, compared to US$11.7 million in 2023. Please refer to the section in this press release titled "Reconciliation of GAAP and Non-GAAP Results" for details.

On March 23, 2025 TransCode Therapeutics, Inc. (NASDAQ: RNAZ), the RNA oncology company committed to more effectively treating cancer using RNA therapeutics, reported that it has agreed to sell an aggregate of 10,250,000 shares of its common stock and warrants to purchase up to 10,250,000 shares of common stock priced at-the-market under Nasdaq rules, at a purchase price of $0.98 per share and associated warrant (Press release, TransCode Therapeutics, MAR 23, 2025, View Source [SID1234651355]). The warrants will have an exercise price of $0.86 per share and will be immediately exercisable upon issuance for a period of five years following the date of issuance. All of the shares of common stock and associated warrants are being offered by the Company. The offering is expected to close on March 25, 2025, subject to satisfaction of customary closing conditions.

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The gross proceeds to the Company from the offering are expected to be approximately $10 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for product development activities, including one or more clinical trials with TTX-MC138, its lead therapeutic candidate, including related IND-enabling studies, and for working capital and other general corporate purposes.

ThinkEquity is acting as the exclusive placement agent for the offering.

The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333- 268764), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC") on December 13, 2022, and declared effective on December 16, 2022. The offering of such securities in the registered direct offering is being made only by means of a prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.

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

On March 23, 2025 Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, reported that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for EVM14, a Tumor-Associated Antigen (TAA) vaccine (Press release, Everest Medicines, MAR 23, 2025, View Source [SID1234651354]). EVM14 is Everest’s first internally developed mRNA therapeutic vaccine to receive FDA IND approval, marking a significant milestone in the Company’s efforts to develop innovative mRNA therapeutics in oncology.

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EVM14 is an off-the-shelf mRNA cancer vaccine targeting multiple TAAs and is designed to treat various cancers, including non-small cell lung cancer and head and neck cancer. It utilizes mRNA encoding multiple TAAs encapsulated in a lipid nanoparticle (LNP) delivery system. Following intramuscular injection, EVM14 is taken up by antigen-presenting cells (APCs), where the mRNA is translated into target antigens. These antigens are then processed and presented by major histocompatibility complex (MHC) molecules to T cells, triggering an antigen-specific immune response. The activated T cells migrate to tumor tissues, recognize and kill the cancer cells expressing the target antigens.

In preclinical studies, EVM14 induced a dose-dependent antigen-specific immune response in mice and significantly inhibited tumor growth in multiple syngeneic tumor models. EVM14 promoted T cell infiltration into tumor tissues, increased T cell activation and cytotoxic function, decreased the Treg population and cytotoxic T lymphocyte (CTL) exhaustion – all well correlated with its anti-tumor activity. Notably, EVM14 demonstrated the ability to induce immune memory and prevent tumor recurrence, offering hope for long-term cancer-free survival. Furthermore, preclinical data demonstrated that the combination of EVM14 with ICIs greatly enhanced the anti-tumor activity, supporting clinical exploration of combination therapies.

"With FDA IND approval, EVM14 has become the Everest’s first internally developed mRNA therapeutic vaccine to receive clearance for global clinical development. This marks a critical breakthrough, advancing our mRNA technology from early-stage research to global clinical trials and highlighting our growing capabilities in mRNA technology. It also represents a new chapter in our ‘dual-engine’ strategy, evolving from a license-in model to a balanced integration of both license-in and in-house R&D innovation." said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. "Through our clinically validated and fully-integrated mRNA platform, we have realized synergies with our ‘AI-powered’ pipeline, underscoring Everest’s leadership position in advancing innovation in oncology and immunology. EVM14, along with EVM16, which is a personalized cancer vaccine in clinical development and in-vivo CAR-T programs, will serve as foundational elements of our innovation strategy in oncology and autoimmune diseases. Everest is at the forefront of China’s mRNA and AI-powered therapeutic development, having advanced mRNA cancer therapeutic vaccines to the clinical trials. Over the past four years, Everest has utilized its AI- and big data-powered mRNA platform to accelerate target identification, sequence design, and delivery optimization. Our proprietary algorithm for mRNA design, now in its third generation, has significantly improved target protein expression and continues to evolve through big data-driven modeling."

Luo added: "This approach has enabled key breakthroughs in mRNA technology, expanded our global pipeline, and unlocked potential new opportunities for international collaboration. We look forward to advancing EVM14 into clinical trials and providing new treatment options for cancer patients. Additionally, we will submit the IND application for EVM14 to the China National Medical Products Administration (NMPA) in the near future."

According to Globocan 2022 statistics, nearly 20 million new cancer cases were diagnosed worldwide, with approximately 9.7million cancer-related deaths1. Lung cancer remains the most prevalent cancer globally, responsible for almost 2.5 million new cases. Lung cancer was also the leading cause of cancer death, with an estimated 1.8 million deaths. Non-small cell lung cancer (NSCLC) accounts for 85%–90% of all lung cancers2, with squamous NSCLC (sq-NSCLC) comprising 25%–30%3. However, targetable genetic alterations, such as EGFR mutations, ALK, and ROS1 rearrangements occur in fewer than 10% of sq-NSCLC cases4, underscoring the urgent need for new treatment options.

Additionally, Global Cancer Statistics 2022 reports that head and neck squamous cell carcinoma (HNSCC) is the seventh most common cancer, accounting for an estimated 890,000 new cases and 450,000 deaths annually5. more than 50% of patients with locally advanced HNSCC who have completed definitive treatment ultimately experience recurrence or metastasis6, leading to poor prognosis, high mortality rates, and diminished quality of life.

Neither immunotherapy nor targeted therapy can offer long term benefits to cancer patients. EVM14’s unique mechanism offers the potential to complement current treatments by enhancing the efficacy via combination therapies and delaying disease recurrence, aligning with current trends in oncology drug development.

Everest has built end-to-end capabilities within its proprietary mRNA platform. The Company is advancing multiple mRNA therapies targeting cancer and autoimmune diseases, including personalized cancer vaccines (PCVs), tumor-associated antigen (TAA) cancer vaccines, immunomodulatory cancer vaccines, and in vivo CAR-T therapies. Additionally, the Company is working on next-generation LNP delivery systems to further boost cell-mediated immune responses. The Company’s first internally developed personalized mRNA cancer vaccine, EVM16, has completed its first patient dosing in an investigator-initiated clinical trial (IIT) in March 2025.

Our mRNA manufacturing facility in Jiashan, Zhejiang Province in China, is designed to comply with global cGMP standards and to produce at clinical- and commercial-scale.

About EVM14

EVM14 Injection is a preservative-free, sterile mRNA-lipid nanoparticle (mRNA-LNP) cancer vaccine. It is formulated with mRNA solution encoding multiple tumor-associated antigens (TAAs), encapsulated in a lipid nanoparticle system. After intramuscular injection, EVM14 is taken up by antigen-presenting cells (APCs) and translated into target antigens. These antigens are processed, presented to T cells by major histocompatibility complex (MHC) molecules and activated antigen-specific T cells. The activated T cells can migrate to tumor tissues, recognize, and kill the tumor cells expressing the target antigens.