2022 2Q Earnings

On July 26, 2022 Hanmi reported 2022 second quarter earnings (Presentation, Hanmi, JUL 26, 2022, View Source [SID1234618931]).

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Diffusion Pharmaceuticals to Initiate Phase 2 Trial in Patients with Glioblastoma Multiforme Incorporating Innovative Imaging Methodology to Evaluate Tumor Oxygenation

On July 26, 2022 Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) ("Diffusion" or the "Company"), a biopharmaceutical company developing novel therapies to enhance the body’s ability to deliver oxygen to areas where it is needed most, reported that after collaboration with the United States Food and Drug Administration ("FDA") on the design of their Phase 2 clinical trial entitled "Open-Label, Dose-Escalation, Phase 2 Safety and Efficacy Study of TSC in Newly Diagnosed Glioblastoma ("GBM") Patients when Administered with Standard of Care ("SOC")" (Press release, Diffusion Pharmaceuticals, JUL 26, 2022, View Source [SID1234617369]). The trial will be designated Study 200-208. The Company expects to initiate the trial by the end of 2022 and anticipates dosing the first patient in the trial in the first quarter of 2023.

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GBM is an aggressive, deadly, and treatment-resistant type of malignant brain tumor, affecting approximately 13,000 newly diagnosed patients each year in the United States. Few treatment options are available for patients with GBM, and none have extended life expectancy beyond a few months. In fact, according to the National Brain Tumor Society, the five-year survival rate for GBM is only 6.8 percent with an average survival time of eight months.

"Effective treatment of GBM remains a significant unmet need and we believe in the potential for TSC to enhance the effectiveness of standard of care therapy for GBM," said Robert Cobuzzi, Jr., Ph.D., President and Chief Executive Officer of Diffusion. "These tumors are known to be hypoxic, which reduces the effectiveness of radio-, chemo-, and immunotherapeutic approaches and promotes tumor cell metastases. We have previously received Orphan Drug designation from the FDA for treatment of GBM with TSC in conjunction with radiotherapy. With the results of the TCOM and Altitude Trials, we now have better data on TSC dosing compared to the previous GBM trials, and we have used these data to design a unique trial that not only will allow us to evaluate the effects of TSC on key clinical outcomes such as survival, but the use of PET imaging also will enable us to obtain data on the direct effects of TSC on GBM tumor oxygenation well before clinical outcome data is typically available in clinical trials involving GBM patients."

The study will include a dose-escalation phase, enrolling patients in a 3+3+3 design, to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of TSC at doses of 1.5 mg/kg, 2.0 mg/kg and 2.5 mg/kg administered in combination with concomitant standard of care radiotherapy ("RT") plus temozolomide. An additional 17 subjects will be treated at the highest tolerable dose identified in the dose escalation phase. The primary objective of the study is to evaluate the safety and tolerability of TSC for the treatment of patients with newly diagnosed GBM when administered with SOC. Secondary objectives of the study are to evaluate progression-free survival at six months by magnetic resonance imaging, assessment using Response Assessment in Neuro-Oncology criteria, and to evaluate overall survival at 12 months.

Study 200-208 will vary in a variety of ways from the GBM trials conducted by Diffusion in the past, including three particularly notable differentiators:

The 1.5 mg/kg to 2.5 mg/kg doses of TSC to be administered in the study will be 6-10-fold higher than the 0.25 mg/kg dose used in Diffusion’s prior GBM trials.

TSC will be administered five days each week approximately 30-60 minutes prior to radiotherapy, as compared to the three days per week regimen in Diffusion’s prior GBM trials.

The study trial will incorporate PET scans to directly evaluate the oxygen enhancing effects of TSC on tumor hypoxia using one of two radiotracers, 18F-FMISO or 18F-FAZA, with initial data readouts expected to be available within one year of the study’s initiation.
"For patients with hypoxic tumor microenvironments such as glioblastoma, radiation can be less effective. Diffusion Pharmaceutical’s proposed phase 2 trial of Trans Sodium Crocetinate (TSC) for glioblastoma patients may help to overcome the relative resistance of the hypoxic tumor to ionizing radiation. Improvements in the clinical outcomes for high-grade glioma patients are critically needed," said Dr. Jason Sheehan, MD, PhD, Neurosurgeon at University of Virginia School of Medicine.

"With Glioblastoma Awareness Day on July 20th serving as a stark reminder of the continued unmet need for this disease, our team is incredibly motivated to work with our clinical investigators to get this uniquely designed trial started to explore the potential of TSC to improve outcomes for patients suffering from this devastating diagnosis," noted Chris Galloway, MD, Chief Medical Officer of Diffusion.

Addex Completes $4.2 Million Equity Financing

On July 26, 2022 Addex Therapeutics Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, reported that it has completed an equity financing transaction entered into on July 22, 2022 with Armistice Master Fund Ltd. ("Armistice"), a healthcare-focused institutional investor, pursuant to which the Company sold 4,500,000 shares in the form of 750,000 American Depositary Shares ("ADSs") at a gross purchase price of $1.70 per ADS, which is equivalent to CHF 0.27 per share, in an offering registered with the U.S. Securities and Exchange Commission ("SEC") (Press release, Addex Therapeutics, JUL 26, 2022, View Source [SID1234616977]). Each ADS represents six shares. Additionally, Addex issued to Armistice unregistered warrants to purchase up to 15,000,000 shares in the form of 2,500,000 ADSs (the "Unregistered Warrants"), as well as unregistered pre-funded warrants to purchase up to 10,500,000 shares in the form of 1,750,000 ADSs (the "Unregistered Pre-Funded Warrants" and together with the Unregistered Warrants, the "Warrants") in a concurrent private placement. The terms of the equity financing transaction were amended on July 22, 2022 to increase the number of ADSs sold by 200,000 ADSs and decrease the number of ADSs issuable upon exercise of the Unregistered Pre-Funded Warrants sold in the concurrent private placement by 200,000. The Unregistered Warrants have an exercise price of $1.90 per ADS, will become exercisable in 60 days after their date of issuance and will expire five years from their date of issuance. The Unregistered Pre-Funded Warrants have been funded to the amount of $1.69 with $0.01 payable on exercise.

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The gross proceeds to Addex, before deducting offering expenses, were $4.2 million. Addex intends to use the net proceeds from this offering to advance its clinical and preclinical pipeline.

"With this funding in place, we are now in a more solid financial position with cash well into 2023, as we focus on securing strategic partners for selected pipeline assets, execute on our strategic collaboration with Indivior and look forward to the read out of data from the ADX71149 Phase 2 epilepsy clinical trial," said Tim Dyer, CEO of Addex.

The shares (but not the Warrants or the shares underlying the Warrants) were offered by Addex pursuant to a "shelf" registration statement on Form F-3 that was originally filed on April 7, 2021 and declared effective by the SEC on April 13, 2021 and the base prospectus contained therein (File No. 333-255089). The offering of the shares was made only by means of a prospectus supplement that forms a part of the registration statement. Electronic copies of the prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at View Source

The Warrants and shares underlying the Warrants were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the shares underlying the Warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the Warrants and underlying shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

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

Sirnaomics Receives IND Clearance from the Taiwan Ministry of Health and Welfare for Phase I Clinical Study of RNAi Therapeutic STP705 for Liver Cancer Treatment

On July 26, 2022 Sirnaomics Ltd. (the "Company" or "Sirnaomics", stock code: 2257.HK), a leading biopharmaceutical company in discovery and development of RNAi therapeutics, reported that the Company has received regulatory clearance from the Taiwan Ministry of Health and Welfare (TMHW) of its Investigational New Drug (IND) application to commence a Phase I trial of STP705, siRNA (small interfering RNA) drug candidate, for the treatment of patients with advanced liver tumors (Press release, Sirnaomics, JUL 26, 2022, View Source [SID1234616974]).

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The Phase I multicenter, open-Label, dose escalation study in Taiwan is part of a global study of STP705 designed to evaluate the safety, tolerability, pharmacokinetics, and anti-tumor activity. STP705 is administered intratumorally for cholangiocarcinoma, hepatocellular carcinoma, or liver metastases in subjects with advanced/metastatic or surgically unresectable solid tumors who are refractory to standard therapy. The study was started in the United States in March 2021, and the study in Taiwan is expected to begin enrolling in the coming months.

"The IND green light in Taiwan for STP705 represents a major milestone for the Company’s expansion of its clinical studies into Asia," said Dr. Patrick Lu, founder, chairman of the Board, Executive Director, President and CEO of Sirnaomics. "We believe that the study results in Taiwan will strengthen the body of data in a multicenter global trial, which will also include a future study in the mainland China. Sirnaomics is currently in a strong position to lead the way in RNAi therapeutics for the development of novel oncology therapies."

"This IND approval will allow more opportunities to manage critical diseases such as liver cancer with high unmet clinical need in Taiwan and the region," stated Steven Long, Ph.D. Sirnaomics Chief Development Officer. "Taiwan’s regulatory bodies and clinical testing hospitals are well known for meeting international standards. We expect to conduct more oncology clinical studies in Asia-Pacific regions in the coming years."

About STP705

STP705 is composed of two siRNA oligonucleotides, targeting TGF-β1 and COX-2 mRNA respectively, formulated in nanoparticles with a Histidine-Lysine Co-Polymer (HKP) peptide as the carrier. Each individual siRNA was demonstrated to inhibit the expression of the target mRNA, and combining the two siRNA’s produces a synergistic effect that diminishes pro-inflammatory factors. Over-expressions of TGF-β1 and COX-2 have been well-characterized in playing key regulatory roles in tumorigenesis.

Valo Therapeutics Acquires PeptiCHIP Technology Enabling Rapid Identification of Tumor Antigens for the Development of Personalized Immunotherapies

On July 26, 2022 Valo Therapeutics Oy (ValoTx), the developer of novel, adaptable immunotherapy platforms for cancer and infectious diseases, reported the exclusive licensing of intellectual property rights (IPR) from the University of Helsinki, Finland, for the institution’s innovative PeptiCHIP technology (Press release, Valo Therapeutics, JUL 26, 2022, View Source [SID1234616973]). Following further validation by ValoTx, and the achievement of specific milestones, the IPR will transfer in full to the company. This is a strategically important addition for the company as it will enable the rapid identification of tumour antigens for the development of new cancer immunotherapies using Valo’s existing technologies and opens the possibility for a tumor specific personalized approach in the future. In addition, due to the advantages PeptiCHIP offers in comparison to existing antigen identification approaches, ValoTx expects to be able to commercialise the technology through creating a revenue-generating business unit.

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Paul Higham, CEO of ValoTx, commented, "Precisely knowing the antigen profile of a tumor is crucial in developing new and effective immunotherapies in the treatment of cancer and particularly so when developing a personalized approach. PeptiCHIP enables us to identify these antigens faster than existing technologies and, in combination with our lead delivery platform, PeptiCRAd, we see significant potential for the development of personalized cancer immunotherapies across a wide range of cancers both for our partners and in-house programmes."

The PeptiCHIP technology consists of a microfluidic chip for identification of neoantigens, coupled with a software algorithm that identifies immunogenic peptides. Together, the device and software form an easy-to-use lab tool that enables the fast and accurate identification of tumor antigen profiles.

Dr Sari Pesonen, CSO of ValoTx, added, "This is another successful IP acquisition from our long-standing innovation partnership with the University of Helsinki. PeptiCHIP technology opens new avenues for partnerships and our in-house programmes focused on new and personalized immunotherapies for the treatment of cancer."

The PeptiCHIP technology is expected to facilitate neoantigen identification at a lower cost and requiring less tumor material compared to current methods. This should lead to faster tumor antigen identification in standard biopsy clinical workflows.

Helsinki Innovation Services Ltd, an innovation and commercialization company owned by the University of Helsinki, managed the intellectual property rights for PeptiCHIP and the commercial negotiations with ValoTx.