On January 5, 2016 Israeli cancer apoptosis company ARTSaVIT LTD reported that it has completed a $6.3 million Series A round of financing led by Arkin Bio Ventures and Pontifax, with participation of M Ventures, Carmel Innovation and Carmel – Haifa University Economic Corporation Ltd (Press release, ARTSaVIT, JAN 5, 2016, View Source [SID1234561842]).

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ARTSaVIT was co-founded by Carmel, the economic corporation of the University of Haifa, Carmel Innovations Fund and Professor Sarit Larisch from the University of Haifa, Israel. Prof. Larisch has identified and characterized ARTS, a protein which regulates the levels of several important anti-apoptotic proteins by promoting their degradation. Apoptosis is a highly regulated process of natural cell death. Faulty regulation of apoptosis is implicated in many human diseases, including cancer. Moreover, resistance to apoptosis is a hallmark of most human cancers.

The insights gathered by Prof. Larisch and the unique function of ARTS led to the establishment of the company, which is developing small molecule ARTS mimetics designed to selectively induce apoptosis in cancer cells. The company received seed investment from the Carmel Innovations Fund, which supported the research and development of the company to its current stage.

ARTSaVIT will move from its facilities at Carmel, University of Haifa, to the state-of-the-art facilities at the M Ventures Israel BioIncubator, which will support the development of the start-up with its infrastructure and a wide range of incubation facilities and services.

Dr. Rom Eliaz, Head of the M Ventures Israel BioIncubator commented: "We are excited to join forces with Arkin Bio Ventures, Pontifax and Carmel and would like to welcome ARTSaVit to our BioIncubator. Following the completion of this fundraising, the company is now well positioned to reach its next value inflection point".

Elka Nir, CEO of Carmel Ltd, the economic corporation of the Haifa University and CEO of Carmel Innovations Fund, noted: "We are proud and excited that M Ventures together with Arkin Bio Ventures and Pontifax invested in ARTSaVIT. It demonstrates the excellent quality and potential of the research and researchers at the University of Haifa. It is another great success for the Carmel Innovation Fund and its business model, which is funding seed companies, supporting them to a stage of significant value "

On January 5, 2016 ASLAN Pharmaceuticals reported that we are pleased to announce that we have signed an expanded licensing agreement for the compound ASLAN003 with our partner Almirall S.A. (Almirall), a global pharmaceutical company based in Barcelona (Press release, ASLAN Pharmaceuticals, JAN 5, 2016, View Source [SID:1234512876]).

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Under the terms of the broadened licence agreement, Almirall has granted ASLAN global rights to develop and commercialise ASLAN003 for all non-topical and non-dermatological indications including oncology.

On January 5, 2016 Millendo Therapeutics, Inc., reported that it has entered into an exclusive license agreement with AstraZeneca for the worldwide development and commercialization rights to AZD4901, a product candidate for the treatment of polycystic ovary syndrome (PCOS), the most common endocrine disease in women (Press release, Millendo Therapeutics, JAN 5, 2016, View Source [SID:1234512825]). The Company will develop the compound as MLE4901. In addition, Millendo has secured a $62 million Series B investment led by New Enterprise Associates, Inc. Previously known as Atterocor, Inc., Millendo is a biopharmaceutical company focused on developing novel approaches for the treatment of orphan and specialty endocrine diseases.

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"This acquisition of MLE4901 combined with the new funding and our current programs around ATR-101 puts us on a new trajectory to build a specialty pharmaceutical company focused on multiple diseasemodifying treatments for endocrine disorders caused by hormone dysregulation," said Julia Owens, President and CEO of Millendo. "We are committed to developing novel treatment options for patients with significant unmet medical needs and we believe that MLE4901, a first-in-class, first-in-disease, nonhormonal therapy, has tremendous potential in the treatment of PCOS, for which there are currently no approved therapies." Owens continued, "Our new company name reflects our vision to develop a robust pipeline of endocrine therapeutics."

Under the terms of the licensing agreement, Millendo acquired global rights to develop and commercialize MLE4901. In exchange, AstraZeneca will receive an upfront payment and take an equity stake in Millendo, as well as development and commercial milestone payments. In addition, AstraZeneca is eligible to receive royalties on net product sales.

The financing was led by New Enterprise Associates and included new investors Roche Venture Fund, Adams Street Partners, Altitude Life Science Ventures, Longwood Fund, and Renaissance Venture Capital Fund, along with current Millendo investors Frazier Healthcare Partners, Osage University Partners, 5AM Ventures, and the Regents of the University of Michigan under the MINTS Program (Michigan Investment in New Technology Startup). In conjunction with the financing, Tracy Saxton of the Roche Venture Fund will join Millendo’s Board of Directors and Carol Gallagher will represent New Enterprise Associates, shifting from her role as an independent board member.

"Endocrine diseases represent a tremendous unmet medical need as well as an opportunity to develop a company focused on tackling these diseases," commented Carol Gallagher, partner at New Enterprise Associates. "Millendo has assembled an exceptionally strong team of drug development experts in this field as well as a portfolio of drug candidates that will make an important impact on the lives of many patients."

MLE4901 was developed on AstraZeneca’s Open Innovation platform, an industry-leading program that allows for the clinical development of compounds that do not fall under AstraZeneca’s R&D core focus areas. Under this pioneering effort in drug repositioning, when studies yield results indicative of a breakthrough therapy for patients, AstraZeneca partners the compound, concept, and data for prompt development to market.

"This is an example of how we are pushing the boundaries of science and collaborating with industry in an open manner to expedite the delivery of novel medicines to patients," said Kumar Srinivasan, Vice President of Scientific Partnering and Alliances with AstraZeneca’s Innovative Medicines and Early Development (IMED) Biotech unit. "Millendo’s focus and expertise in specialty endocrine diseases makes them uniquely positioned to develop this compound and bring it to patients."

About Polycystic Ovary Syndrome

Polycystic ovary syndrome (PCOS) is the most common endocrine disease in women, and is estimated to affect 5-15% of the female population. PCOS is caused by Gonadotropin Releasing Hormone (GnRH) hyperpulsatility, which leads to increased luteinizing hormone (LH) pulse frequency and downstream hormonal abnormalities including androgen excess. Clinical symptoms include androgen excess, menstrual dysfunction, metabolic syndrome, and infertility. Current treatments are used off-label and directed at managing symptoms. There are no approved therapies for PCOS on the market.

About MLE4901

MLE4901 is a Neurokinin 3 receptor (NK3R) antagonist that acts to diminish GnRH hyperpulsatility and luteinizing hormone (LH) pulse frequency. In a Phase 2a clinical trial, significant reductions in LH and testosterone were observed in PCOS patients treated with MLE4901.

About ATR-101

ATR-101 is a selective small molecule inhibitor of ACAT1, which reduces adrenal steroids and induces apoptosis of cells derived from the adrenal cortex. ATR-101 is currently in clinical development for the treatment of adrenocortical carcinoma (ACC) with additional development areas to include congenital adrenal hyperplasia (CAH) and endogenous Cushing’s syndrome (CS).

On January 5, 2016 Epizyme, Inc. (NASDAQ: EPZM), a clinical stage biopharmaceutical company creating novel epigenetic therapeutics for cancer patients, reported that it intends to offer and sell up to $120,000,000 of shares of its common stock in an underwritten public offering (Press release, Epizyme, JAN 5, 2016, View Source [SID:1234508671]). Epizyme intends to grant the underwriters a 30-day option to purchase up to an additional $18,000,000 of shares of its common stock. All of the shares of common stock to be sold in the offering will be offered by Epizyme.

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Epizyme intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, to:

Fund the global development costs of tazemetostat, Epizyme’s novel oral EZH2 inhibitor, outside of Japan, including the costs of the following clinical trials:

the ongoing five-arm phase 2 study in patients with non-Hodgkin lymphoma;

the recently initiated phase 2 study in adult patients with INI1-negative tumors, certain SMARCA4-negative tumors or synovial sarcoma;

the recently initiated phase 1 study in pediatric patients with INI1-negative tumors, certain SMARCA4-negative tumors or synovial sarcoma;

the planned clinical trial of tazemetostat in combination with R-CHOP in front-line elderly patients with diffuse large B-cell lymphoma;

the planned clinical trial of tazemetostat in combination with a B-cell signaling agent or immuno-oncology agent in patients with B-cell non-Hodgkin lymphoma; and

the planned phase 2 study of tazemetostat in BAP1-mutated mesothelioma;

Initiate market development activities, begin building regulatory and commercial strategies to prepare for the global launch of tazemetostat, if approved, and expand the company’s clinical and regulatory capabilities;

Fund research and development to advance the company’s pipeline of preclinical product candidates and its programs that are subject to the Celgene collaboration and to expand its drug development platform; and

For working capital and other general corporate purposes.

Citigroup, Leerink Partners LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. JMP Securities and Wedbush PacGrow are acting as co-lead managers for the offering with Mizuho Securities USA Inc. acting as co-manager. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on May 4, 2015 and declared effective by the SEC on May 29, 2015. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement related to the offering is expected to be filed with the SEC and, if and when filed, copies of the preliminary prospectus supplement relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] or by phone at 800-831-9146; Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at [email protected], or by phone at 1-800-808-7525 ext. 6142; or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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.