EpimAb Biotherapeutics Raises $120M in Series C Financing to Advance Bispecific Programs and Broaden Clinical Pipeline

On March 22, 2021 EpimAb Biotherapeutics, a clinical stage biotech company specializing in bispecific antibody development, reported the closing of a $120 million Series C financing round (Press release, EpimAb Biotherapeutics, MAR 22, 2021, View Source [SID1234576974]). The round was co-led by China Merchants Bank International (CMBI) and Mirae Asset Financial Group (Mirae), and joined by Hony Capital, Cormorant Asset Management, Yanchuang Capital, Octagon Capital, renowned cultural entrepreneur and investor Adrian Cheng and ShangBay Capital, with strong participation from existing investors such as Decheng Capital, SDIC Fund, Sherpa Healthcare Partners, and Hidragon Capital. Proceeds from the financing will be used to fund the ongoing clinical development of EMB-01, EMB-02 and EMB-06, and to expand the company’s pipeline of novel bispecific antibodies and other biologics. Tony Rong, nominated by CMBI, and Sungwon Song, nominated by Mirae, will also join the EpimAb Board of Directors.

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"The completion of our Series C financing will enable us to accelerate the development of our three clinical assets EMB-01, EMB-02 and EMB-06, and to advance our rich pipeline of preclinical programs into the clinic as we continue to build on our portfolio of novel bispecific antibodies generated based on our proprietary FIT-Ig technology," said Dr. Chengbin Wu, founder and CEO of EpimAb Biotherapeutics. "With three candidates currently progressing through clinical trials and several ongoing high-value development projects in the pipeline poised to move towards the clinic, we are confident in our development strategy and our potential for long-term value generation. We greatly appreciate the support from our new and current investors as we move into this next phase of our company’s development and remain committed to bringing innovative bispecific antibody therapeutics to patients worldwide."

EpimAb is creating a pipeline of novel proprietary bispecific antibody therapeutics with a focus on oncology and other areas of high value to patients. EMB-01, EpimAb’s lead candidate designed to simultaneously target EGFR and cMET on tumor cells, is currently progressing through a Phase I/II clinical study in both China and the U.S. EMB-02, EpimAb’s second clinical candidate, which simultaneously targets two checkpoint proteins, PD-1 and LAG-3, and has shown strong anti-tumor activities in preclinical models resistant to standard anti-PD-1 monotherapies, recently received FDA clearance to progress into the clinic in the U.S. EMB-06, a T cell engaging bispecific designed to simultaneously target CD3 and BCMA with differentiated properties, has been cleared to initiate clinical trials in Australia.

"EpimAb is among the premier innovative biopharmaceutical companies in China, revolutionizing the bispecific antibody space with a proprietary technology that has global potential," said Tony Rong. "As we continue to expand our global life sciences portfolio, CMBI is committed to support EpimAb’s mission of bringing novel bispecific therapeutics to patients."

"Each of EpimAb’s assets impressed us with enormous potential and a unique approach to treating areas of high unmet medical need. EpimAb’s dedicated pipeline of bispecific antibodies with best-in-class mechanisms makes it one of the driving forces behind Chinese biopharma innovations," said Sungwon Song. "Mirae is excited to be a part of the company’s rapid evolution to become a global leader in its space."

Odonate Therapeutics Announces Discontinuation of Development of Tesetaxel

On March 22,2021 Odonate Therapeutics, Inc. (NASDAQ: ODT) reported that the clinical data package for tesetaxel is unlikely to support FDA approval. Therefore, Odonate is discontinuing the development of tesetaxel and will wind down the operations of the Company. The Company will work with clinical sites to transition patients in ongoing tesetaxel clinical studies to appropriate alternative therapies.

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"We thank the investigators, study team personnel, and especially the patients and their caregivers for their endeavors to improve treatments for patients with breast cancer," said Kevin Tang, Chief Executive Officer of Odonate.

AIM ImmunoTech Announces Addition of Single-Agent Ampligen Arm to Cancer Center’s Ongoing Study in Cancer Patients with COVID-19

On March 22, 2021 AIM ImmunoTech Inc. (NYSE American: AIM) reported that the Institutional Review Board (IRB) of Roswell Park Comprehensive Cancer Center (Roswell Park) has approved a protocol amendment to Roswell Park’s ongoing Phase 1/2a study evaluating the two-drug combination of AIM’s Ampligen and interferon alpha-2b as a potential early-onset treatment for patients with cancer and mild-to-moderate COVID-19 (Press release, AIM ImmunoTech, MAR 22, 2021, View Source [SID1234576991]).

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The IRB-approved amendment calls for randomization of an additional twenty patients. Ten of these patients will receive a single dose of Ampligen, but no interferon treatment, and the other ten will receive best available care only. Ampligen alone has a generally well-tolerated safety profile with lower risk of adverse events than is generally expected with interferon therapy.

"We are excited to see Ampligen tested not only as part of an antiviral treatment combination for COVID-19 among cancer patients, but also as a possible standalone therapy for this terrible virus," said AIM CEO Thomas K. Equels. "An early-onset treatment is especially critical for cancer patients, who face significantly increased risk of severe symptoms or death."

AIM previously announced in November 2020 that the first patient had been enrolled and received treatment in Roswell Park’s study. Funding for the clinical trial is provided, in part, through grants from the National Cancer Institute and AIM, as well as institutional support from Roswell Park.

Full details about this trial under way at Roswell Park, led by co-Principal Investigators Drs. Brahm Segal and Pawel Kalinski, are available at ClinicalTrials.gov.

Crinetics Pharmaceuticals Pipeline Progress on Display at ENDO 2021

On March 22, 2021 Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, reported details of four presentations that were made at the Endocrine Society’s annual ENDO 2021 congress on the company’s product pipeline (Press release, Crinetics Pharmaceuticals, MAR 22, 2021, View Source [SID1234576990]). A late-breaking e-poster and oral presentation provided details of the preclinical findings supporting the company’s development of CRN04894 and CRN04777. In addition, a summary of the previously announced ACROBAT Edge Phase 2 results as well as details of an improved tablet formulation of paltusotine were presented:

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Selective Somatostatin 5 (SST5) and Somatostatin 2 (SST2) Nonpeptide Agonists Potently Suppress Glucose- and Tolbutamide-Stimulated Dynamic Insulin Secretion from Isolated Human Islets
Effects of CRN04894, a Nonpeptide Orally Bioavailable ACTH Antagonist, on Corticosterone in Rodent Models of ACTH Excess
Pharmacokinetics and Safety of an Improved Oral Formulation of Paltusotine, a Selective, Nonpeptide Somatostatin Receptor 2 (SST2) Agonist for the Treatment of Acromegaly
Safety and Efficacy of Switching Injected Peptide Long-Acting Somatostatin Receptor Ligands to Once Daily Oral Paltusotine: ACROBAT Edge Phase 2 Study
"I have never been more excited to share our data with the audience at ENDO. We believe CRN04894, which is now in Phase 1 development, represents an important advancement in the field of the endocrine stress axis. We also presented encouraging findings from our SST5 agonist program, from which we developed CRN04777. I am especially excited about this candidate, which I believe , if successfully developed and approved, has the potential to offer real benefit to kids with congenital HI and their families," stated Scott Struthers, Ph.D., president and CEO of Crinetics. "In addition to our early-stage pipeline programs, we presented information from the Phase 2 ACROBAT Edge study and the new formulation of paltusotine to be used in our Phase 3 acromegaly program."

Crinetics presented a late-breaking e-poster describing the potential of SST5 receptor agonists to regulate glucose-stimulated insulin secretion from human islet cells. One of somatostatin’s roles in maintaining blood glucose concentrations is to regulate insulin secretion, yet the lack of highly selective agonists has previously hampered efforts to identify the role of the individual somatostatin receptor subtypes in this process. In its preclinical efforts, Crinetics observed that SST5 receptor agonists were potent inhibitors of insulin secretion in the healthy pancreas and under conditions that stimulate excess insulin secretion. Based on these results, the company believes that a selective SST5 agonist may have therapeutic value in the treatment of congenital HI, which is a condition associated with dysregulated insulin secretion. Based on these preclinical findings, Crinetics advanced CRN04777, an experimental oral nonpeptide SST5 agonist, into a clinical program for congenital HI. CRN04777 is currently being evaluated in a Phase 1 trial designed to evaluate safety, pharmacokinetics, and clinical proof-of-concept by employing well-established methods for evaluating insulin secretion.

Crinetics also discussed preclinical results related to CRN04894, an oral nonpeptide ACTH antagonist, during a live oral presentation at ENDO 2021. CRN04894 recently advanced into a Phase 1 clinical program in healthy volunteers that is designed to evaluate safety, pharmacokinetics, and clinical proof-of-concept by measuring the ability of CRN04894 to suppress cortisol, cortisol precursors and adrenal androgens following exogenous ACTH stimulation. Preclinical data featured in the oral presentation showed that repeat dosing of CRN04894 suppressed plasma corticosterone levels in a robust and dose-dependent manner in animal models of ACTH excess. Results also showed that after seven days, the weight gain and adrenal gland hypertrophy caused by excess ACTH were reduced. This evidence supports the further evaluation of CRN04894 in conditions such as Cushing’s disease and congenital adrenal hyperplasia (CAH), which are associated with excessive ACTH.

"ENDO 2021 was our first opportunity to present the entirety of our growing clinical-stage pipeline, including the supportive evidence for our emerging programs in congenital HI and diseases of ACTH excess like Cushing’s disease and CAH," added Alan S. Krasner, M.D., Crinetics’ chief medical officer. "We are extremely excited to expand our development efforts to three clinical programs with more expected from our experienced in-house discovery team."

In addition to the company’s pipeline programs, Crinetics presented two posters on paltusotine, (formerly CRN00808) for the treatment of acromegaly, including results from the Phase 2 ACROBAT Edge study. Edge was a single-arm study designed to evaluate the impact of switching patients with acromegaly from monthly injected somatostatin receptor ligands (SRLs) to paltusotine, an experimental oral, once-daily, nonpeptide SST2 receptor agonist. Edge enrolled individuals who had not achieved normal insulin-like growth factor-1 (IGF-1) levels despite receiving long-acting octreotide or lanreotide. As previously reported, after 13 weeks of treatment 20 of 23 participants who completed the dosing period maintained their IGF-1 to levels within 20% of their baseline or lower. The most common treatment-emergent adverse events (>10%) included: headache, arthralgia, fatigue, peripheral swelling, paresthesia and hyperhidrosis. There were no discontinuations due to adverse events and no treatment-related serious adverse events.

Crinetics plans to advance paltusotine into a Phase 3 clinical program in acromegaly in the first half of 2021 using a new tablet formulation. Results of a Phase 1 pharmacokinetic study reported at ENDO 2021 demonstrated that this new once-daily tablet formulation of paltusotine had a fasting requirement of only 0.5-1 hour, compared to the 2-hour requirement of the prior capsule formulation. The tablet formulation also showed improved dose-proportional exposure up to 80 mg, which offers the potential for greater dosing flexibility compared to the prior formulation. In addition, the new tablet formulation was observed to be less sensitive to effects of acid lowering drugs, such as proton pump inhibitors (PPIs). In planned Phase 3 studies of paltusotine, the new tablet formulation will be administered with a 1-hour post-dose fast without the exclusion of acid lowering drugs.

All presentations made at the annual ENDO 2021 congress may be accessed in the virtual conference environment through April 30, 2021. In addition, they will be available on the Crinetics website.

ABOUT PALTUSOTINE
Paltusotine (formerly CRN00808) is an investigational, orally available nonpeptide agonist that is designed to be highly selective for the somatostatin receptor type 2 (SST2). It was designed by the Crinetics discovery team to provide a once-daily option for patients with acromegaly and neuroendocrine tumors, which are currently treated by injected therapies that have approximately $3.2 billion in revenues annually. A previously completed Phase 1 trial of paltusotine showed clinical proof of concept by providing evidence of potent suppression of the growth hormone (GH) axis in healthy volunteers. In Phase 2 trials, paltusotine maintained insulin-like growth factor-1 (IGF-1) levels in acromegaly patients who switched from injectable depot medications to once-daily oral paltusotine. IGF-1 is the primary biomarker endocrinologists use to manage their acromegaly patients. Based on these findings, Crinetics plans to advance paltusotine into a Phase 3 program for acromegaly in the first half of 2021.

ABOUT CRN04777
CRN04777 is an investigational, orally available selective nonpeptide somatostatin receptor type 5 (SST5) agonist designed to reduce insulin secretion and is intended to be a universal treatment for patients with congenital hyperinsulinism (HI). Congenital HI is a severe form of hyperinsulinism that, if not identified and treated early, can lead to life-threatening hypoglycemia, severe neurological sequelae and developmental delay. Congenital HI is driven by mutations in certain genes involved in regulating insulin secretion and occurs in approximately 1 in 30,000 to 50,000 new births in the United States. In 2020, the U.S. Food and Drug Administration granted rare pediatric disease designation for CRN04777 for the treatment of congenital HI. CRN04777 is being evaluated in a Phase 1 study in healthy volunteers to assess safety, tolerability, and clinical proof of concept.

ABOUT CRN04894
CRN04894 is an investigational, orally available, nonpeptide adrenocorticotropic hormone (ACTH) antagonist designed to selectively block the interaction of ACTH at the melanocortin type 2 receptor (MC2R), which is predominantly expressed in the adrenal gland. ACTH is synthesized and secreted by the pituitary gland and binds to MC2R to stimulate the production of cortisol, a stress hormone that is involved in the regulation of many systems. Cortisol is involved in the regulation of blood sugar levels, metabolism, inflammation, blood pressure, and memory formulation. Diseases associated with excess of ACTH, therefore, can have significant impact on physical and mental health. Crinetics’ ACTH antagonist, CRN04894, exhibited strong binding affinity for MC2R and demonstrated suppression of adrenally derived glucocorticoids that are under the control of ACTH, while maintaining mineralocorticoid production in preclinical models. CRN04894 is being evaluated in a Phase 1 study in healthy volunteers to assess safety, tolerability, and clinical proof of concept.

Xylonix Reveals New Drug Compound for Combating Cancer and Abnormal Macrophages

On March 22, 2021 Xylonix, a Singapore-based biotech company, reported that it has developed a new immunity drug (010DS-Zn) that demonstrates potential for treating a variety of solid cancers and COVID-19’s post-recovery complications, which include heart damage, diabetes and multi-system inflammatory syndrome in children (MIS-C) (Press release, Xylonix, MAR 22, 2021, View Source [SID1234576984]). This research was recently submitted as a preprint publication on bioRxiv.org (View Source).

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Aggressive solid cancers have been known to manipulate immunity for its advancements in several ways. One way is the enrichment of an immunity subset called M2-like macrophages (M2), which is associated in cancer metastasis, relapse, and treatment resistance. Recent studies showed that COVID-19 infection resulted in similar immune pathologies to solid cancers – increased M2 activity and suppressed CD4 and CD8 T-cells[1] activity.

Xylonix demonstrated that its drug compound 010DS-Zn markedly reduced M2 population, while simultaneously boosting anti-cancer CD4 and CD8 T cells. This resulted in tumour suppression in animal studies. It also demonstrated consistent anti-cancer activity in 53 human patient-derived cancers tested ex vivo.

"Today’s cancer immunotherapy combinations can cost upwards of $200,000/year (1), but beneficial responses in patients happen at 15% chance-at-random (2). We developed 010DS-Zn as a widely applicable immunotherapy to significantly increase these odds. As of today, we are concerned about the 120 million and more people (3) with COVID-19 infection history who may suffer from long term recovery complications. We have manufactured sufficient quantity of 010DS-Zn to be used for multiple collaborations, and we are looking for capable partners to work with us on further studies on 010DS-Zn’s effect on human tumours and COVID-19 complications," said Dr Fred Chung, Chief Scientific Officer and Co-founder Xylonix.