Redx Presents Encouraging Preclinical Data on the Potential of Porcupine and ROCK Inhibitors to Tackle Cancer-Associated Fibrosis

On June 27, 2022 Redx (AIM: REDX), the clinical-stage biotechnology company focused on discovering and developing novel, small molecule, highly targeted therapeutics for the treatment of cancer and fibrotic disease, reported that two presentations were delivered at the inaugural Extracellular Matrix Pharmacology Congress ("ECM 2022") in Copenhagen, 23-25 June (Press release, Redx Pharma, JUN 27, 2022, View Source [SID1234616280]). The presentations highlighted novel preclinical research performed by the Company and academic collaborators including encouraging data supporting Redx’s Porcupine and ROCK inhibitors as potential novel treatments for cancer-associated fibrosis.

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Dr Richard Armer, Chief Scientific Officer, Redx Pharma, commenting on both presentations at the ECM Congress said: "The encouraging data sets presented at the ECM Congress demonstrate the potential of our proprietary molecules to address hard-to-treat cancers and fibrotic diseases, including cancer-associated fibrosis. Redx is uniquely positioned to become a leader in these underserved clinical areas as we continue to leverage our current clinical assets, world-class medicinal chemistry, and drug discovery engine. We look forward to continuing our work with leading academic institutions to research possible future applications of our molecules."

Collaboration partner, Professor Marina Pajic of the prestigious Garvan Institute of Medical Research (the "Garvan") in New South Wales, Australia presented the RXC004 (PORCUPINE) and ROCK2 selective inhibitor data showing that targeting fibrosis associated with pancreatic cancer led to increased survival in mouse models. The collaboration between Redx and the Garvan was announced on 5 April 2022.

Professor Marina Pajic, Associate Professor and Strategic Program Lead for Precision Medicine for Cancer at the Garvan commented: "Highly fibrotic pancreatic cancers are a key research area for us. Our work with Redx’s proprietary, highly selective small molecules allows us to expand our understanding of how targeting different signalling pathways may be used to develop novel treatments which improve patient survival in these difficult-to-treat cancers."

In a second presentation, Head of Inflammation and Fibrosis at Redx, Dr Peter Bunyard, presented data supporting RXC008, a GI-targeted ROCK inhibitor, as a potential first-in-class treatment for fibrostenotic Crohn’s disease. The presented results were from a research collaboration between Redx and scientists at Belgium’s Ghent University and assessed the preclinical efficacy of RXC008 based on the use of magnetic resonance imaging (MRI) texture analysis to determine fibrotic changes in the colon. The data showed that RXC008 could significantly reduce fibrosis in the mouse dextran sulfate sodium (DSS) model measured by both histology and, for the first time, non-invasive MRI. This study therefore highlights that RXC008 has the potential to be the first pharmaceutical treatment for fibrostenotic Crohn’s disease, reducing or replacing the need for repeated and debilitating surgical interventions, currently the only treatment option for patients, and that MRI could be used to monitor the effectiveness of new treatments in the clinic without the need for invasive biopsy.

Debby Laukens, Professor of Gastro-Intestinal Inflammation at Ghent University, commented: "We are proud of our work with Redx and the crucial role it played in profiling a differentiated drug candidate through measuring its anti-fibrotic effects using a novel, non-intrusive technique. We were clearly able to demonstrate the efficacy of Redx’s GI-targeted ROCK inhibitor to specifically target fibrosis in the intestines."

About the Extracellular Matrix Pharmacology Congress The Congress, organised by the Danish Research Foundation, brought together experts in the fields of cancer, fibrosis and immunology to discuss new pharmacological approaches to treat chronic diseases often caused by alterations in the extracellular matrix ("ECM") structure. Redx was one of eight symposium sponsors.

Lilly Declares Third-Quarter 2022 Dividend

On June 27, 2022 The board of directors of Eli Lilly and Company (NYSE: LLY) reported that has declared a dividend for the third quarter of 2022 of $0.98 per share on outstanding common stock (Press release, Eli Lilly, JUN 27, 2022, View Source [SID1234616279]).

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The dividend is payable on Sept. 9, 2022 to shareholders of record at the close of business on Aug. 15, 2022.

SELLAS Life Sciences Provides Clinical Update for GFH009 Ongoing Phase 1 Clinical Trial

On June 27, 2022 SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) ("SELLAS’’ or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel therapies for a broad range of cancer indications, reported a clinical update on the ongoing Phase 1 dose-escalating clinical trial of GFH009, its novel and highly selective CDK9 inhibitor, in advanced relapsed and refractory lymphoma and acute myeloid leukemia (AML) (Press release, Sellas Life Sciences, JUN 27, 2022, View Source [SID1234616268]).

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In the AML group, patients treated at the 22.5 mg dose level experienced no dose limiting toxicities, including no grade 3/4 neutropenias (an abnormally low count of neutrophils, a type of white blood cell). The AML group has entered the last planned dose level of 30 mg. As previously reported, significant anti-leukemic effects (i.e., greater or equal to 50 percent decrease in bone marrow blasts following GFH009 monotherapy) have been observed in AML patients treated sufficiently long enough to assess efficacy at previous dose levels.

In the lymphoma group, the 15 mg dose level cohort has completed enrollment. Safety assessments for this cohort are currently underway. In the previous 9 mg dose level cohort, one patient, with peripheral T-cell lymphoma, an aggressive type of lymphoma that develops from mature-stage T-cells and natural killer (NK) cells who was refractory to three prior lines of therapy, demonstrated a partial response as seen on a computerized tomography (CT) scan.

"We continue to see positive results in our clinical efforts for GFH009, especially in assessing the safety in patients with lymphoma and AML," said Dragan Cicic, MD, Senior Vice President, Clinical Development of SELLAS. "The clinical process for safety is to determine the highest dose level patients can tolerate without experiencing adverse events or side effects. Not only does GFH009 appear to be safe at the dose levels studied to date, but we have also observed efficacy in lower dose levels. These results are encouraging as we continue to increase dose levels and assess accordingly."

Precision BioSciences Announces Closing of Underwritten Offering of Common Stock

On June 27, 2022 Precision BioSciences, Inc. (Nasdaq: DTIL) (the "Company"), a clinical stage gene editing company developing ARCUS-based ex vivo allogeneic CAR T and in vivo gene editing therapies, reported the closing of an underwritten offering of 35,971,224 shares of its common stock at an offering price of $1.39 per share, for total gross proceeds of approximately $50 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company (Press release, Precision Biosciences, JUN 27, 2022, View Source [SID1234616267]). All of the shares of common stock were offered by the Company. The Company intends to use the net proceeds of the offering to help fund ongoing and planned research and development, and for working capital and general corporate purposes.

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The offering included new investors, including Great Point Partners, LLC, EcoR1 Capital, Heights Capital Management, Sphera Healthcare and Altium Capital, as well as participation from existing stockholders, including Cowen Healthcare Investments and Sio Capital Management.

With the proceeds from this offering, the $25 million equity purchased by Novartis at $2.01 per share and the pending receipt of $50 million upfront cash payment from Novartis, Precision expects that existing cash and cash equivalents, expected operational receipts, and available credit will be sufficient to fund its operating expenses and capital expenditure to year end 2024.

Jefferies acted as sole book-running manager for the offering.

The securities described above were offered by means of a prospectus supplement dated June 21, 2022, and accompanying prospectus dated June 11, 2020, forming part of the Company’s effective shelf registration statement (File No. 333-238857). The prospectus supplement and accompanying prospectus relating to this offering were filed with the U.S. Securities and Exchange Commission (the "SEC") and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, via telephone: 877-821-7388 or via email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

Novo Nordisk A/S – Share repurchase programme

On June 27, 2022 Novo Nordisk reported that initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Rules") (Press release, Novo Nordisk, JUN 27, 2022, View Source [SID1234616266]). This programme is part of the overall share repurchase programme of up to DKK 24 billion to be executed during a 12-month period beginning 2 February 2022.

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Under the programme initiated 3 May 2022, Novo Nordisk will repurchase B shares for an amount up to DKK 4.4 billion in the period from 4 May 2022 to 2 August 2022.

Since the announcement 20 June 2022, the following transactions have been made:

The details for each transaction made under the share repurchase programme are published on novonordisk.com.

With the transactions stated above, Novo Nordisk owns a total of 15,196,381 B shares of DKK 0.20 as treasury shares, corresponding to 0.7% of the share capital. The total amount of A and B shares in the company is 2,280,000,000 including treasury shares.

Novo Nordisk expects to repurchase B shares for an amount up to DKK 24 billion during a 12- month period beginning 2 February 2022. As of 24 June 2022, Novo Nordisk has since 2 February 2022 repurchased a total of 13,456,818 B shares at an average share price of DKK 757.99 per B share equal to a transaction value of DKK 10,200,072,660