IPA Announces Proposed Public Offering of Common Shares

On December 5, 2023 ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA) ("ImmunoPrecise" or "IPA" or the "Company"), reported that it intends to offer and sell common shares in an underwritten public offering (Press release, ImmunoPrecise Antibodies, DEC 5, 2023, View Source [SID1234638401]). All of the common shares in the underwritten public offering are to be sold by the Company. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares offered in the public offering solely to cover over-allotments, if any. 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.

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The Company intends to use the net proceeds from the proposed offering for research and development; capital expenditures, including expansion of existing laboratory facilities; and working capital and general corporate purposes.

The Benchmark Company LLC is acting as the sole book-running manager for the offering.

The securities will be offered and sold pursuant to a shelf Registration Statement on Form F-3 (File No. 333-273197) that was declared effective by the United States Securities and Exchange Commission (the "SEC") on July 14, 2023. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC and will be available on its website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone at 212-312-6700 or by email at [email protected].

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 Canada or any other state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FENNEC ANNOUNCES INCREMENTAL $5 MILLION INVESTMENT FROM PETRICHOR

On December 5, 2023 Fennec Pharmaceuticals Inc. (NASDAQ: FENC; TSX: FRX), a commercial stage specialty pharmaceutical company focused on improving the lives of children with cancer, reported the third closing of $5 million senior secured promissory notes under the existing agreement with Petrichor (Press release, Fennec Pharmaceuticals, DEC 5, 2023, View Source [SID1234638192]). The original investment agreement provided access to up to $20 million of additional financing through December 31, 2023. As part of this closing, Fennec and Petrichor have amended the agreement to provide access to up to $15 million of additional financing through December 31, 2024.

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"We appreciate Petrichor’s continued support of Fennec and our efforts to grow the use of PEDMARK within the global pediatric cancer community," said Rosty Raykov, Chief Executive Officer of Fennec. "PEDMARK is the only approved therapy for reducing the risk of hearing loss that sadly occurs in far too many pediatric cancer patients who receive treatment with platinum-based chemotherapy. We are encouraged by the feedback that we are receiving from providers and patient families during our first full year on market in the U.S., as we continue our efforts to increase awareness and access to PEDMARK."

Petrichor Partner Michael Beecham commented, "We are proud to support the Fennec team as they make the families and providers to pediatric cancer patients aware of the benefits of PEDMARK. Survivors of pediatric cancer should not have to additionally suffer treatment-induced hearing loss in cases where it can be safely avoided. We believe the commercial potential for PEDMARK is significant, as is its potential to improve the lives of young cancer patients."

Further information concerning the investment agreement will be set forth in the Current Report on Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC") on or about December 5, 2023. The offer and sale of the notes and the shares of common stock issuable upon conversion of the notes, if any, have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction, and the notes and such shares may not be offered or sold absent registration with the SEC, or an applicable exemption from registration requirements, or in a transaction not subject to, such registration requirements. Fennec is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.

No regulatory authority has either approved or disapproved the contents of this press release. This press release is neither an offer to sell nor a solicitation of an offer to buy the notes or the shares of common stock issuable upon conversion of the notes, if any, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

Arvinas to Host Conference Call and Webcast to Discuss Vepdegestrant (ARV-471) Data Presented at 2023 San Antonio Breast Cancer Symposium and Plans to Expand Vepdegestrant Development Program

On December 5, 2023 Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, reported that a conference call and webcast will be held with executives from Arvinas and Pfizer Inc. (NYSE: PFE) to discuss vepdegestrant (ARV-471) data presented at the 2023 San Antonio Breast Cancer Symposium (SABCS) as well as plans to expand the vepdegestrant development program (Press release, Arvinas, DEC 5, 2023, https://ir.arvinas.com/news-releases/news-release-details/arvinas-host-conference-call-and-webcast-discuss-vepdegestrant [SID1234638187]).

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Investor Call & Webcast Details
Arvinas will host a conference call and webcast on Wednesday, December 6 at 7:30 a.m. ET to discuss these updates. Participants are invited to listen by going to the Events and Presentation section under the Investors page on the Arvinas website at www.arvinas.com. A replay of the webcast will be archived on the Arvinas website following the presentation.

About vepdegestrant (ARV-471)
Vepdegestrant is an investigational, orally bioavailable PROTAC protein degrader designed to specifically target and degrade the estrogen receptor (ER) for the treatment of patients with ER positive (ER+)/human epidermal growth factor receptor 2 (HER2) negative (ER+/HER2-) breast cancer.

In preclinical studies, vepdegestrant demonstrated up to 97% ER degradation in tumor cells, induced robust tumor shrinkage when dosed as a single agent in multiple ER-driven xenograft models, and showed increased anti-tumor activity when compared to a standard of care agent, fulvestrant, both as a single agent and in combination with a CDK4/6 inhibitor. In July 2021, Arvinas announced a global collaboration with Pfizer for the co-development and co-commercialization of vepdegestrant; Arvinas and Pfizer will equally share worldwide development costs, commercialization expenses, and profits. Ongoing and planned clinical trials will continue to monitor and evaluate the safety and anti-tumor activity of vepdegestrant.

Seattle Children’s launches BrainChild Bio to accelerate CAR T-cell therapies for children with brain tumors

On December 5, 2023 Seattle Children’s reported the launch of BrainChild Bio, Inc. to accelerate the advancement of chimeric antigen receptor (CAR) T-cell therapies in Central Nervous System (CNS) tumors (Press release, Seattle Children Hospital, DEC 5, 2023, View Source [SID1234638182]). BrainChild Bio will be granted an exclusive license to novel CAR T-cell technology for CNS tumors developed at Seattle Children’s and will build upon the pioneering CAR T-cell therapy and clinical translational work of Michael Jensen, M.D., and his team at Seattle Children’s Therapeutics. Seattle Children’s has provided the initial equity funding for BrainChild Bio which will operate as an independently managed corporation.

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Since 2012, Seattle Children’s Therapeutics has designed, manufactured and launched a robust portfolio of immunotherapy clinical trials for leukemia and lymphoma, brain tumors, and solid tumors, enrolling more than 500 patients. The launch of BrainChild Bio is a natural progression of Seattle Children’s Therapeutics’ goal to expand access to potentially life-changing therapies through collaborations with biotech companies.

"As one of the largest dedicated pediatric institutes in the country, we are extremely proud of the discoveries, clinical trials and cures that have come from inside our own walls," said Dr. Jeff Sperring, Chief Executive Officer of Seattle Children’s. "We also know there are kids around the globe that cannot come to Seattle to be treated. We believe this gives us the best opportunity to accelerate this technology bringing potential cures to kids faster."

BrainChild Bio’s initial CAR T-cell therapy program will focus on pediatric brain tumors, prioritizing diffuse intrinsic pontine glioma (DIPG), an incurable type of childhood cancer that forms in the brainstem. The company’s clinical programs will be accelerated by the foundational work at Seattle Children’s Therapeutics, which consists of four clinical trials designed to validate the safety and confirm early efficacy of several different targets for CAR T-cell therapy in pediatric CNS tumors, with preliminary results planned for presentation at a scientific forum in 2024. The BrainChild-04 clinical study was initiated this year and continues to evaluate four different targets in a single CAR T-cell therapy. Following the achievement of clinical proof-of-concept in DIPG, BrainChild Bio plans to seek pediatric registration for DIPG and then extend the therapeutic application of its novel CAR T-cell therapies to target additional difficult-to-treat pediatric and adult brain tumors, including glioblastoma and brain metastases.

"As a physician, I work with children and their families who have limited therapeutic choices to treat their tumors—and it is devastating that there are few safe and curative options for them," commented Dr. Nicholas Vitanza, CNS CAR T-cell Lead and DIPG Research Lead at Seattle Children’s, and the Founding Chair of Brainchild Bio’s Scientific Advisory Board. "Developing therapies that are tailored specifically for pediatric patients will generate better medicines to address CNS tumors while protecting these young patients and their developing bodies and minds."

BrainChild Bio will optimize the application of CAR T-cell therapies for CNS tumors by advancing a next-generation CAR T-cell therapy platform that integrates synthetic technologies, including multiplex targeting and enhanced potency controls. This multi-dimensional approach includes: (i) multiple targets in a single CAR T-cell therapy to prevent tumor escape; (ii) novel transgenes to increase potency that engage only when within the direct tumor environment; (iii) switching technologies to control the CAR T cells directly within the tumor; (iv) CAR T design and manufacturing processes which have been proven over many years at Seattle Children’s Therapeutics, and (v) novel CAR T-cell administration directly into the brain minimizing systemic toxicities and enabling regular repeat dosing to ensure prolonged presence of CAR T-cells and durable efficacy.

"BrainChild Bio is founded with a mission to bring the best ideas forward to push the bounds of scientific discovery in service of children with cancer. For far too long, children have been deprioritized for commercialized medicines, and families have been left without options," stated Dr. Michael Jensen, Founder and Chief Scientific Officer of BrainChild Bio. "We are steadfast in our commitment to cracking the code of harnessing CAR T-cell technology in CNS tumors and we are uniquely positioned to do so."

BrainChild Bio will be led by world-class business and scientific leaders with a deep track record of innovative drug development. Steven Brugger will serve as Chief Executive Officer, bringing over 40 years of experience leading biopharma companies, most recently as CEO of Affinivax, Inc., a vaccine innovator acquired by GSK for $3.3 billion in 2022. Dr. Michael Jensen will serve as Chief Scientific Officer, directing all research and development efforts focused on commercializing a pipeline of CNS CAR T-cell therapies. Dr. Jensen’s contributions to immunotherapy are significant with over 200 patents in cell and gene therapy, spanning his 30-year career as a physician-scientist, including the last 13 years where he led the R&D team at Seattle Children’s Therapeutics and developed a portfolio of CAR T-cell therapies, directed clinical translation programs and oversaw clinical studies for multiple CAR T-cell therapies. He is the scientific founder of Umoja Biopharma, as well as Juno Therapeutics, which was eventually bought by Bristol Myers Squibb and led to the commercialization of Breyanzi, a CD19-targeting CAR T-cell therapy now commercially available for treating lymphoma in adults.

Odyssey Therapeutics Announces $101 Million Series C Financing

On December 5, 2023 Odyssey Therapeutics, Inc., a biotechnology company pioneering next-generation precision immunomodulators and oncology medicines, reported the closing of a $101 million Series C financing round led by Ascenta Capital with participation from new and existing investors, including OrbiMed, SR One, General Catalyst, Foresite Capital, Woodline Partners LP, HBM Healthcare Investments, Colt Ventures, BlackMars Capital GmbH, Creacion Ventures, funds and accounts advised by Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates, Inc., Catalio Capital Management, Walleye Capital, Alexandria Venture Investments, Racing Beach Ventures LLC, The Healthcare Innovation Investment Fund LLC, an investment fund associated with Leerink Partners, Ab Magnitude Ventures, KB Investment, The Global BioAccess Fund, and multiple leading global investors (Press release, Odyssey HealthCare, DEC 5, 2023, View Source [SID1234638180]). This Series C financing brings the total capital raised since founding in late 2021 to $487 million. Proceeds will support the advancement of multiple programs into clinical studies and the continuation of investment in discovery to build a sustainable model for therapeutic innovation.

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"Odyssey has rapidly advanced a portfolio of immunology and oncology therapeutics with the goal of providing transformative medicines for large numbers of patients in need and several of these molecules have the potential to enter the clinic in the next 12 months," said Gary D. Glick, Ph.D., founder and CEO of Odyssey. "For us, success is defined as bringing safe and effective medicines to patients with serious diseases, with support from Ascenta and our other investors driving our pipeline into the future. We welcome Dr. Lorence Kim, co-founder and managing partner of Ascenta Capital, to our board to join us in achieving this mission."

Dr. Kim brings a wealth of strategic, financial and operational acumen from the biotechnology and pharmaceutical sectors to Odyssey’s board. Notably, during his tenure from 2014 to 2020 as Moderna’s chief financial officer, he raised $4.4 billion to build the company’s technology platform, advance multiple clinical programs and invest in mRNA infrastructure. Prior to Moderna, Dr. Kim advised established pharmaceutical and emerging biotech companies as co-head of biotechnology investment banking at Goldman Sachs.

"Odyssey’s accomplished team of scientists and executives with numerous prior successes in discovery, development and commercialization has made tremendous progress in only two years," said Lorence Kim, M.D. "Dr. Glick has successfully created a sustainable and capital-efficient model that primes Odyssey to be a hub for immunology and oncology therapeutic innovation, and I look forward to working with him, the board and leaders on the management team in the years ahead."

From its headquarters in Boston, Odyssey has built a comprehensive drug discovery and development platform merging both computational and experimental technologies. This unique set of tools enables Odyssey to identify drug targets with the highest clinical potential in a modality-agnostic fashion. In just two years, the company has moved multiple programs forward from ideation to a portfolio of high-value product candidates.

"Odyssey continues to accelerate multiple pre-clinical programs in immunology and oncology," said Jeff Leiden, M.D., Ph.D., Chairman of the Odyssey board. "By raising additional capital from world-class investors and adding a board member with expertise in drug development and company building, we are positioning Odyssey for success over the next several years as our pipeline enters clinical development."