Affimed Announces Publication of Preclinical Data in Clinical Cancer Research Supporting Therapeutic Potential of AFM13 in Combination with Natural Killer Cells

On May 13, 2021 Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, reported the publication of preclinical in vitro and in vivo research of its lead innate cell engager (ICE), AFM13 (CD16A/CD30), combined with healthy donor-derived NK cells in Clinical Cancer Research (Press release, Affimed, MAY 13, 2021, View Source [SID1234580037]). The preclinical data demonstrated that AFM13 strongly binds to NK cells, including cytokine-activated or cord blood-derived NK (cbNK) cells, resulting in enhanced tumor recognition and antibody-dependent cellular cytotoxicity (ADCC). The research was generated through a collaboration with The University of Texas MD Anderson Cancer Center and Washington University School of Medicine and supports use of AFM13 combined with NK cells as a promising therapy for CD30-positive hematological malignancies.

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"Our ROCK platform forms the basis to generate ICE molecules which have the ability to strongly and durably bind to CD16A on NK cells, resulting in unique antitumor properties," said Arndt Schottelius, M.D., Ph.D., Chief Scientific Officer of Affimed. "As demonstrated by the recent presentation of initial Phase 1 data at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2021 – which showed an emerging profile that appears to have the potential to provide meaningful benefit with a safety profile consistent with previous AFM13 data – pre-complexing AFM13 with NK cells presents an innovative and promising therapeutic approach for patients with impaired NK cell activity."

"This study provided new insights into how ICE molecules such as AFM13 may be impacted by NK cell receptor ligand alterations using multidimensional mass cytometry," said Todd Fehniger, M.D., Ph.D., Professor of Medicine, Oncology Division, at Washington University. "Further, blood NK cells primed and differentiated into memory NK cells exhibit potent responses to CD30+ cancer cells when directed by AFM13, providing further evidence for their powerful CD16-triggered cytokine production and killing."

Additional key findings from the research are outlined below:

AFM13 combined with donor NK cells, including conventional NK cells from healthy donors, cytokine-induced memory-like NK cells from peripheral blood and preactivated and expanded cbNK cells, enhanced tumor cell killing compared to NK cells alone.
When combined with AFM13, Hodgkin lymphoma patient-derived NK cells do not reach the same level of cytotoxicity compared to healthy donor-derived NK cells in vitro.
AFM13-directed tumor cell killing was enhanced when combined with cytokine (IL-12, IL-15 and IL-18) preactivated cbNK cells compared to non-cytokine preactivated cbNK cells.
Cytokine preactivated cbNK cells express different markers when compared to noncytokine preactivated cbNK cells, potentially accounting for superior cytotoxicity which is further enhanced with AFM13.
"This preclinical study confirmed the synergy between the cbNK cell platform developed at MD Anderson and AFM13 as a precomplexed product and provided the rationale to test this novel NK cell-based adoptive immunotherapy strategy for patients with relapsed/refractory CD30+ malignancies," said Katy Rezvani, M.D., Ph.D., Professor of Stem Cell Transplantation and Cellular Therapy at MD Anderson.

The preclinical data published in Clinical Cancer Research supported the Investigational New Drug (IND) application for the ongoing Phase I clinical study of AFM13 precomplexed with cytokine-preactivated cbNK cells followed by AFM13 monotherapy in patients with CD30-positivemalignancies. Results of the Phase 1 study as of March 31, 2021, demonstrated an objective response rate of 100% (ORR=4/4; PR=2/4; CR=2/4) among the first patients enrolled who were all heavily pretreated. There were no observed events of cytokine release syndrome, neurotoxicity, or graft-versus-host disease. The study will progress to the higher dose cohorts with additional updates expected throughout this year.

About AFM13
AFM13 is a first-in-class innate cell engager (ICE) that uniquely activates the innate immune system to destroy CD30-positive hematologic tumors. AFM13 induces specific and selective killing of CD30-positive tumor cells, leveraging the power of the innate immune system by engaging and activating natural killer (NK) cells and macrophages. AFM13 is Affimed’s most advanced ICE clinical program and is currently being evaluated as a monotherapy in a registration-directed trial in patients with relapsed/refractory peripheral T-cell lymphoma or transformed mycosis fungoides (REDIRECT). The study is actively recruiting, and additional details can be found at www.clinicaltrials.gov (NCT04101331).

In addition, The University of Texas MD Anderson Cancer Center is studying AFM13 in an investigator-sponsored Phase 1 trial in combination with cord blood-derived allogeneic NK cells in patients with recurrent or refractory CD30-positive lymphomas. The study is a dose-escalation trial of precomplexed NK cells, with patients receiving 1×106 NK cells/kg in Cohort 1, 1×107 NK cells/kg in Cohort 2, and 1×108 NK cells/kg in Cohort 3. The trial is designed to explore safety and activity and determine the recommended Phase 2 dose. In each cohort, the dose of the precomplexed NK cells with AFM13 is to be followed by weekly doses of 200 mg AFM13 monotherapy for three weeks, with each patient evaluated for dose-limiting toxicities and responses on day 28.

MD Anderson has an institutional financial conflict of interest with Affimed related to this research and has therefore implemented an Institutional Conflict of Interest Management and Monitoring Plan.

Palatin to Report Third Quarter, Fiscal Year 2021 Results; Teleconference and Webcast to be held on May 17, 2021

On May 13, 2021 Palatin Technologies, Inc. (NYSE American: PTN) reported that it will announce its third quarter, fiscal year 2021 operating results on Monday, May 17, 2021 before the open of the U.S. financial markets (Press release, Palatin Technologies, MAY 13, 2021, View Source [SID1234580034]).

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Palatin will also conduct a conference call and live audio webcast hosted by its executive management team on May 17, 2021 at 11:00 a.m. ET. The conference call will include a review of the company’s operating results and an update on programs under development.

Celsius Holdings, Inc. Reports Record First Quarter 2021 Financial Results

On May 13, 2021 Celsius Holdings, Inc., (Nasdaq: CELH), maker of the leading global fitness drink, CELSIUS, reported financial results for the first quarter ended March 31, 2021 (Press release, Celsius Therapeutics, MAY 13, 2021, View Source [SID1234580033]). Management will host a conference call today at 10:00 a.m. Eastern Time to discuss the results with the investment community.

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To participate in the conference call, please call one of the following telephone numbers at least 10 minutes before the start of the call:

Medtronic to Announce Financial Results for its Fourth Quarter and Full Fiscal Year 2021

On May 13, 2021 Medtronic plc (NYSE:MDT) reported that it will report financial results for its fourth quarter and full fiscal year 2021 on Thursday, May 27, 2021. A news release will be issued at approximately 5:45 a.m. Central Daylight Time (CDT) and will be available at View Source The news release will include summary financial information for the company’s fourth quarter and fiscal year 2021, which ended on Friday, April 30, 2021.

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Medtronic will host a video webcast at 7:00 a.m. CDT to discuss financial results for its fourth quarter and full fiscal year 2021. The webcast can be accessed at View Source on May 27, 2021.

Within 24 hours of the broadcast, a replay and transcript of the prepared remarks will be available by clicking on the Investor Events link at View Source.

Looking ahead, Medtronic plans to report its fiscal year 2022 first, second, third, and fourth quarter results on Tuesday, August 24, 2021, Tuesday, November 23, 2021, Tuesday, February 22, 2022, and Thursday, May 26, 2022, respectively. For these events, confirmation and additional details will be provided closer to the specific event.

Insmed Announces Closing of Public Offerings of Common Stock and Convertible Senior Notes and Full Exercise of Underwriters’ Options to Purchase Additional Shares and Notes

On May 13, 2021 Insmed Incorporated (Nasdaq: INSM) reported the closing of the previously announced registered underwritten public offering (the "Equity Offering") of 11,500,000 shares of its common stock (the "Shares"), including 1,500,000 Shares issued pursuant to the exercise in full of the underwriters’ option to purchase additional Shares, at a price to the public of $25.00 per share before deducting underwriting discounts and commissions, and the previously announced registered underwritten public offering (the "Notes Offering") of $575 million aggregate principal amount of its 0.75% convertible senior notes due 2028 (the "Notes"), including $75 million aggregate principal amount of Notes purchased pursuant to the exercise in full of the underwriters’ option to purchase additional Notes, solely to cover over-allotments (Press release, Insmed, MAY 13, 2021, View Source [SID1234580031]). A portion of the net proceeds from the offering of the Notes will be used to repurchase $225 million in aggregate principal amount of Insmed’s existing outstanding 1.75% Convertible Senior Notes due 2025 (the "2025 Notes"). The gross proceeds to Insmed from the offerings, before deducting underwriting discounts and commissions and other offering expenses payable by Insmed, were $287.5 million and $575 million, respectively.

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The Notes are senior unsecured obligations of Insmed and rank senior in right of payment to any of Insmed’s future indebtedness that is expressly subordinated in right of payment to the Notes and rank equally in right of payment with all of Insmed’s existing and future liabilities that are not so subordinated, including the existing 2025 Notes. The Notes will accrue interest payable semiannually in arrears on June 1 and December 1 of each year at the rate of 0.75% per year, beginning on December 1, 2021. The Notes will mature on June 1, 2028, unless earlier repurchased, redeemed or converted in accordance with their terms prior to such date. Prior to June 6, 2025, Insmed will not have the right to redeem the Notes. Subject to certain conditions, on or after June 6, 2025, Insmed may redeem for cash all or a part of the Notes. Prior to March 1, 2028, the Notes will be convertible at the option of holders of the Notes only upon satisfaction of certain conditions and during certain periods, and thereafter, will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, holders of the Notes will receive shares of Insmed common stock, cash or a combination thereof, at Insmed’s election. The conversion rate for the Notes is initially 30.7692 shares of Insmed common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $32.50 per share, and is subject to adjustment under the terms of the Notes. Insmed may be obligated to increase the conversion rate for any conversion that occurs in connection with certain corporate events or a redemption of the Notes by Insmed. The initial conversion price represents a premium of approximately 30% over the public offering price per share of the Shares in the Equity Offering.

Concurrently with the offerings, Insmed entered into separate and privately negotiated repurchase transactions with certain holders of a portion of the 2025 Notes. In these transactions, Insmed will repurchase 2025 Notes with an aggregate principal amount of $225 million for an aggregate repurchase price of approximately $238.9 million, using a portion of the net proceeds from the Notes Offering. Insmed intends to use the remaining net proceeds from the Notes Offering and the net proceeds from the Equity Offering to fund activities related to the commercialization and development of ARIKAYCE, further research and development of brensocatib, TPIP or any of its product candidates, and for other general corporate purposes, including business expansion activities.

J.P. Morgan Securities LLC and SVB Leerink LLC acted as book-running managers for the offerings. Morgan Stanley & Co. LLC also acted as a book-running manager for the offerings. Credit Suisse Securities (USA) LLC and Stifel, Nicolaus & Company, Incorporated acted as co-lead managers for the Equity Offering. Cantor Fitzgerald & Co. and H.C. Wainwright & Co., LLC acted as co-managers for the Equity Offering.

A shelf registration statement on Form S-3 (File No. 333-238560) relating to the Equity Offering and the Notes Offering as described above has been filed with the Securities and Exchange Commission ("SEC"), and became automatically effective upon filing on May 21, 2020. A final prospectus supplement relating to and describing the terms of each offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected]; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105 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 any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.