On April 5, 2021 Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, reported two upcoming presentations at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2021, which will be held virtually from April 10-15, 2021 and May 17-21, 2021 (Press release, Arvinas, APR 5, 2021, View Source [SID1234577576]). These presentations will describe the discovery of Arvinas’ two clinical-stage PROTAC degraders, ARV-110 and ARV-471, including the first disclosures of their structures.

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Details for the presentations are as follows:

Title: Discovery of ARV-110, a first in class androgen receptor degrading PROTAC for the treatment of men with metastatic castration resistant prostate cancer
Date and Time: April 11, 2021 from 2:05 PM – 2:15 PM ET
Presenter: Lawrence B. Snyder, Ph.D., Executive Director of Medicinal Chemistry at Arvinas
Session Title: New Therapeutics Targeting Molecular Drivers in Cancer

Title: The discovery of ARV-471, an orally bioavailable estrogen receptor degrading PROTAC for the treatment of patients with breast cancer
Date and Time: April 11, 2021 from 2:20 PM – 2:30 PM ET
Presenter: Lawrence B. Snyder, Ph.D., Executive Director of Medicinal Chemistry at Arvinas
Session Title: New Therapeutics Targeting Molecular Drivers in Cancer

Abstracts will be available for registered attendees on the AACR (Free AACR Whitepaper) website beginning on April 9, 2021.

On April 5, 2021 Invitae (NYSE: NVTA), a leading medical genetics company, reported that a small group of investors, led by SB Management, a subsidiary of Softbank Group Corp., will make an investment of $1.15 billion in convertible senior notes to support the Company’s future growth initiatives (Press release, Invitae, APR 5, 2021, View Source [SID1234577575]).

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"Invitae’s mission is to deliver genetic information to improve healthcare for billions of people at all stages of life. With the support of our long-term shareholders, we’re creating the platform to support the routine use of genetics in mainstream medicine to result in better healthcare for everyone," said Sean George, co-founder and chief executive officer of Invitae. "This investment will help us continue to fuel our growth, including expanding our platform, services and menu through both in-house development and the addition of complementary companies and technologies as we work to build a differentiated platform uniquely capable of driving the transition to personalized medicine."

"Invitae has a definitive head start in the rapidly expanding market for clinical genetic sequencing. Their comprehensive diagnostic products are well positioned to further grow the global understanding of how genomics predispose populations for certain diseases. These datasets will inform treatment and dramatically improve patient outcomes," said Akshay Naheta, chief executive officer of SB Management, a subsidiary of SoftBank Group Corp.

Under the terms of the investment, the participating investors, including SB Management, will purchase a total aggregate principal amount of $1.15 billion in Convertible Senior Notes due 2028 (the "Notes"). The Notes will have an initial conversion price of $43.18 per share of the Company’s common stock, subject to customary anti-dilution and other adjustments. The initial conversion price of $43.18 represents a 20% premium to the Company’s average 5-day trailing volume-weighted average price as of April 1, 2021. The Notes will mature on April 1, 2028, unless earlier converted, redeemed or repurchased. The Notes will bear 1.5% interest per year. Upon conversion, the Company will have the right to elect settlement in cash, shares, or any combination thereof in its sole discretion.

Additional information regarding this announcement may be found in a Current Report on Form 8-K that the Company intends to file today with the U.S. Securities and Exchange Commission.

J. Wood Capital Advisors LLC and Perella Weinberg Partners LP acted as financial advisors and J.P. Morgan acted as placement agent to Invitae on the transaction.

On April 5, 2021 HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, reported certain preliminary financial results for the first quarter ended March 31, 2021 (Press release, HTG Molecular Diagnostics, APR 5, 2021, View Source [SID1234577574]).

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As discussed during HTG’s earnings conference call on March 25, the company believes its full year 2021 revenue could grow 30% to 40% over 2020 levels as it navigates a resurgence of COVID-19, which impacted the first quarter and is expected to continue to impact at least the first half of 2021. HTG expects to report unaudited total revenue for the first quarter ended March 31, 2021 of approximately $1.4 million, and cash, cash equivalents and short-term marketable securities of approximately $30.8 million as of March 31, 2021.

"After seeing many of our customers begin to return to work in the fourth quarter of 2020, we were cautiously optimistic that we were starting to pull out of the COVID-19-related revenue impact that we experienced throughout most of 2020. However, a second round of COVID-19-related closures, especially in Europe, have again impacted our core business, delaying planned studies and product sales," said John Lubniewski, CEO of HTG. "While we remain confident in the main drivers and underlying demand for our products, and still believe that full year 2021 revenue could grow 30% to 40% over 2020 levels, we believe regional and company level closures will continue to add turbulence to our revenue recovery throughout the first half of 2021."

Mr. Lubniewski continued, "We continue to see a fundamental macro trend of personalized medicine driving an increased use of biomarkers, especially RNA-based biomarkers. We believe our technology continues to be an ideal tool to address deployable alternatives for measuring gene expression, advance clinical trials, and lower false discovery rates in preclinical screening. We plan to continue to focus on diversifying our customer base and further expanding into markets outside of oncology for sales of existing HTG EdgeSeq products. In addition, we are in the final development phase of our planned transcriptome panel and the related Early Adopter Program, which we believe will move us toward our planned commercial launch in the third quarter of 2021."

The preliminary results set forth above are based on management’s initial review of the company’s results as of and for the quarter ended March 31, 2021 and are subject to revision based upon the company’s quarter-end closing procedures and the completion and review by the company’s external auditors of the company’s quarter‑end financial statements. Actual results may differ materially from these preliminary results as a result of the completion of quarter-end closing procedures, final adjustments, and other developments arising between now and the time that the company’s financial results are finalized. In addition, these preliminary results are not a comprehensive statement of the company’s financial results for the quarter ended March 31, 2021, should not be viewed as a substitute for complete financial statements prepared in accordance with generally accepted accounting principles, and are not necessarily indicative of the company’s results for any future period.

The company expects to announce full March 31, 2021 financial results in advance of its quarterly conference call in May 2021.

On April 5, 2021 Vincerx Pharma, Inc. (Nasdaq: VINC) (the "Company"), reported that it will redeem all of its outstanding public warrants (the "Public Warrants") to purchase shares of the Company’s common stock, $0.0001 par value per share ("Common Stock"), that were issued under the Warrant Agreement, dated as of March 5, 2020 (the "Warrant Agreement"), by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the "Warrant Agent"), and that remain outstanding at 5:00 p.m. New York City time on May 5, 2021 (the "Redemption Date") for a redemption price of $0.01 per Public Warrant (the "Redemption Price") (Press release, Vincerx Pharma, APR 5, 2021, View Source [SID1234577573]). Prior to the Redemption Date, the Company’s units, listed on the Nasdaq Capital Market under the symbol "LSACU," will each be separated into one share of Common Stock and one Public Warrant, and be traded on the Nasdaq Capital Market under the symbols "LSAC" and "LSACW," respectively.

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Warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement and still held by the initial holders thereof or their permitted transferees are not subject to this redemption.

Under the terms of the Warrant Agreement, the Company is entitled to redeem all the outstanding Public Warrants if the last sale price of the Common Stock is at least $16.50 per share for any 20 trading days within any 30-day trading period ending on the third business day prior to the date on which a notice of redemption is given. This share price performance target has been met. At the direction of the Company, the Warrant Agent has delivered a notice of redemption to each of the registered holders of the outstanding Public Warrants.

Each Public Warrant may be exercised by the holders thereof until 5:00 p.m. New York City time on the Redemption Date, to purchase one-half (1/2) of a fully paid and non-assessable share of Common Stock underlying such warrant, at the exercise price of $11.50 per whole share of Common Stock. Pursuant to the Warrant Agreement, a holder may exercise its warrants only for a whole number of shares. This means that only an even number of Public Warrants may be exercised at any given time by a holder. Any Public Warrants that remain unexercised following 5:00 p.m. New York City time on the Redemption Date will be void and no longer exercisable, and the holders of those Public Warrants will be entitled to receive only the redemption price of $0.01 per warrant. 6,563,767 Public Warrants were initially issued by the Company, exercisable for an aggregate of 3,281,883 shares of Common Stock at a price of $11.50 per share, representing a total of approximately $37.7 million in potential proceeds to the Company.

None of the Company, its board of directors or employees has made or is making any representation or recommendation to any holder of the Public Warrants as to whether to exercise or refrain from exercising any Public Warrants.

The shares of Common Stock underlying the Public Warrants have been registered by the Company under the Securities Act of 1933, as amended, and are covered by a registration statement on Form S-1 filed with, and declared effective by, the Securities and Exchange Commission (File No. 333-252589).

Questions concerning redemption and exercise of the Public Warrants can be directed to Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004, Attention: Compliance Department, telephone number (212) 509-4000.

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of any of the Company’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

On April 5, 2021 Ichnos Sciences Inc., a global biotechnology company developing innovative biologic treatments in oncology and autoimmune diseases, reported the appointment of Cyril Konto, M.D., to the new position of Chief Medical Officer (CMO), effective immediately (Press release, Ichnos Sciences, APR 5, 2021, View Source [SID1234577572]).

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Dr. Konto, who reports to Chief Executive Officer Alessandro Riva, M.D., will oversee oncology clinical sciences, clinical operations, regulatory sciences, drug metabolism and pharmacokinetics, biometrics, drug safety, and quality. He will also work closely with the discovery and antibody engineering organizations to select and set priorities for research targets.

Previously, Dr. Konto was vice president of clinical development at Allogene Therapeutics, which was spun off from Pfizer in 2018. At Pfizer, he was global head of early immuno-oncology clinical development. Earlier, he worked in both medical affairs and clinical development at Bristol Myers Squibb.

"My career has been devoted to helping patients with cancer and I am excited to join Ichnos to continue this journey," said Dr. Konto. "I am eager to work with the team to advance Ichnos’ innovative pipeline, including our trispecific antibodies, and to explore potential synergies between these compounds and other promising approaches such as checkpoint inhibitors and cell therapy."

"Cyril has a long track record of successfully developing novel oncology therapies spanning from checkpoint inhibitors and immune cell engagers to cell therapies, and he has contributed to regulatory filings and approvals globally," said Alessandro Riva. "His strategic, scientific, and operational track record will be highly valuable for our organization."

An oncologist by training, Dr. Konto began his career practicing medicine in Paris, France, at the Pierre and Marie Curie University, where he held both clinical and academic positions. He received his medical degree from University René Descartes in Paris.