Transactions in connection with share buy-back program

On March 15, 2021 Genmab A/S (Nasdaq: GMAB). On February 23, 2021 Genmab announced the initiation of a share buy-back program to mitigate dilution from warrant exercises and to honor our commitments under our Restricted Stock Units program (Press release, Genmab, MAR 15, 2021, View Source [SID1234576633]).

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The share buy-back program is expected to be completed no later than June 30, 2021 and comprises up to 200,000 shares.

The following transactions were executed under the program from March 8, 2021 to March 12, 2021:

Details of each transaction are included as an appendix to this announcement.

Following these transactions, Genmab holds 145,477 shares as treasury shares, corresponding to 0.22% of the total share capital and voting rights.

The share buy-back program is undertaken in accordance with Regulation (EU) No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the "Safe Harbour Regulation." Further details on the terms of the share buy-back program can be found in our company announcement no. 11 dated February 23, 2021.

ElevateBio Scales Disruptive Cell and Gene Therapy Business Model with $525 Million Series C Financing

On March 15, 2021 ElevateBio, a cell and gene therapy technology company focused on powering transformative cell and gene therapies, reported it has raised $525 million in a Series C financing (Press release, ElevateBio, MAR 15, 2021, View Source [SID1234576632]). ElevateBio has created a new disruptive business model addressing the most pressing challenges in the field of cell and gene therapy. With an unprecedented suite of next generation-enabling technologies; including gene editing, induced pluripotent stem cells, and protein, viral, and cellular engineering; the company is changing the way the field advances cell and gene therapies. ElevateBio is positioned to power the industry’s most promising therapies with an "Elevate Inside" approach by democratizing access to its technologies, and using ElevateBio BaseCamp (a technology-enabled process development and CGMP manufacturing capability) to advance transformative therapies across the entire industry. With this financing, ElevateBio will continue to develop and expand its technology platforms, build upon its network of process development and GMP manufacturing capacity, and advance an increasing number of industry partnerships, while also continuing to develop its own highly innovative cell and gene therapies.

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Matrix Capital Management led the Series C financing alongside additional new investors SoftBank Vision Fund 2* and Fidelity Management & Research Company who joined ElevateBio’s existing investors: MPM Capital, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital, The Invus Group, Emerson Collective, Surveyor Capital (A Citadel company), EDBI, and Vertex Ventures, iTochu, and a large insurance company.

"ElevateBio has created the first fully-integrated technology company exclusively focused on cell and gene therapy, disrupting the current paradigm by providing end-to-end capabilities that enable partners a strategic advantage in the market and, ultimately, meet the urgent need of patients and families suffering with life-threatening and devastating diseases," said David Hallal, Chairman and Chief Executive Officer of ElevateBio. "While we see remarkable breakthroughs in the earliest days of the cell and gene therapy revolution, accelerating innovation requires next-generation technology, analytics, and production capabilities to deliver therapies better, faster, and cheaper. We are poised to power the field today and for many decades to come and are thrilled to welcome Matrix Capital Management, SoftBank, and Fidelity to our stellar group of existing investors."

Mitchell Finer, Ph.D., Chief Scientific Officer of ElevateBio, President of ElevateBio BaseCamp, and Chief Executive Officer of LifeEDIT Therapeutics continued by saying, "In my nearly 35 years of driving cell and gene therapy innovation across a range of technologies and therapeutics, I have seen much progress toward our ambition to serve patients with intractable diseases – yet innovation is often delayed by technology limitations and the lack of manufacturing robustness. At ElevateBio, we can realize the full potential of cell and gene therapies, by re-envisioning the way these products are made, breaking down silos, leveraging powerful enabling technologies, and changing the mindset from simple manufacturing scale-up to conducting large scale biology. This approach will drive transformative cell, gene, and regenerative therapies today and tomorrow that have the potential to enable access for patients around the globe."

As part of the financing, two new members, Karan Takhar, Senior Managing Director at Matrix Capital Management and Deep Nishar, Senior Managing Partner, SoftBank Investment Advisers, will join ElevateBio’s Board of Directors.

Mr. Takhar leads and oversees key portfolio investments at Matrix Capital. He is a member of the Board of Directors at Encoded Therapeutics, Palleon Pharmaceuticals, and Zentalis Pharmaceuticals. Before joining Matrix, Mr. Takhar spent time working for High Vista Strategies, Goldman Sachs Investment Strategies, and Moody’s Investor Service.
Mr. Nishar leads life sciences, frontier tech, and enterprise software investments at SoftBank Investment Advisers. He has more than 20 years of experience in helping build and grow businesses, and sits on the board of directors of Encoded Therapeutics, Relay Therapeutics, Seer and Vir Bio, amongst other companies. Prior to joining SoftBank, Mr. Nishar served as Senior Vice President of Products and User Experience at LinkedIn.
"ElevateBio’s business model maximizes the potential to capitalize on the convergence of technology and healthcare, creating an entirely new category in cell and gene therapy," said Karan Takhar. "The company is redefining the way cell and gene therapies are discovered, developed, and manufactured, bringing together cutting-edge scientific and digital technologies to enable a seismic shift in the field."

Deep Nishar added, "We are proud to support ElevateBio’s world-class team to expand and advance its technology and manufacturing platforms to accelerate the production and development of tomorrow’s life-saving cell and gene therapies."

Addressing the need in cell and gene therapy:

There are nearly a thousand cell and gene therapies in development targeting a broad range of diseases, yet as of February 2020, only nine cell or gene therapies were approved in the U.S. Despite the small number of approved therapies, the global cell and gene therapy market is expected to reach nearly $50 billion by 2027. The U.S. Food and Drug Administration (FDA) predicts that by 2025, they will be approving 10 to 20 cell and gene therapy products a year based on an assessment of the current pipeline and the clinical success rates of these products. Scaling production from a few million cells in the lab to manufacturing the billions of cells needed to treat patients is uniquely complex. While innovation has greatly advanced in the discovery and development of cell and gene therapies, the approach to manufacturing these novel medicines has largely relied on traditional modes of development or a patchwork of technologies and providers, hampering and slowing their impact on human health.

ElevateBio was built to bring the insights, skills, and technological know-how needed to navigate these complex challenges in a repeated fashion to advance transformative cell and gene therapies to patients whether they are ElevateBio’s own therapeutics or the innovative therapies of its partners.

Bicara Therapeutics Launches with Deep Pipeline of First-in-Class Dual Action Biologics for Cancer Immunotherapy

On March 15, 2021 Bicara Therapeutics, a clinical-stage biotechnology company developing dual-action biologics designed to spur a potent and durable immune response in the tumor microenvironment, reported with a $40 million investment from Biocon Limited (Press release, Bicara Therapeutics, MAR 15, 2021, View Source [SID1234576631]). The financing will be used to advance a robust pipeline of first-in-class bifunctional antibodies developed by a global team, including a highly successful biologics engineering team in Bangalore, India and an experienced executive team in Cambridge, Mass.

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Bicara’s bifunctional approach brings together the precision of tumor-targeted antibodies and the power of immunomodulators. These dual-action therapies are intended to activate a strong immune response inside the tumor microenvironment, while minimizing the impact on healthy cells. This approach has strong potential in patients who are refractory to checkpoint inhibitors and first-line targeted therapies and is designed to achieve efficacy as both a single agent and in combination with approved drugs.

"Immune checkpoint inhibitors and targeted therapies have been important advances in cancer care — but unfortunately, far too many patients either fail to respond or stop responding as their tumors grow resistant. Our dual-action biologics have the potential to bring new hope to these patients," said Claire Mazumdar, Ph.D., MBA, Chief Executive Officer of Bicara Therapeutics. "We have brought together a team with deep experience in engineering complex biologics and a successful track record of developing FDA-approved drugs, and we’re thrilled to be advancing through the clinic so quickly as we move with urgency to address the significant need for more effective cancer treatments."

Bicara’s lead program, BCA101, a first-in-class EGFR / TGFβ-trap bifunctional antibody, entered a Phase 1/2 study at leading U.S. and Canadian cancer centers in July 2020. BCA101 is being evaluated both as a single agent and in combination with the checkpoint inhibitor pembrolizumab in patients with advanced EGFR-driven solid tumors who no longer respond to the standard of care. Based on current progress, the company anticipates transitioning to dose expansion studies in the second half of 2021.

"The strong enrollment we have seen in the BCA101 trial underscores the depth of unmet need, especially in patients who are refractory to the standard of care, including chemotherapy, immune checkpoint inhibitors or targeted therapies," said Dr. Liviu Niculescu, Chief Medical Officer of Bicara. "I’m excited to be a part of the Bicara team as we pursue the potential for a highly targeted bifunctional antibody that can jump-start a more effective immune response and deliver meaningful outcomes for our patients."

"Resistant tumors often survive because they have manipulated the complex biochemistry of the tumor microenvironment to suppress an immune response. Bicara’s bifunctional antibodies are expertly designed to overcome this defense system and spark a strong, highly localized immune attack. They have real potential to make a difference for patients with intractable cancers," said Thomas Tan, Ph.D., Chief Scientific Officer of Bicara Therapeutics. "I am proud of this passionate team and the exciting pipeline of first-in-class biologics we are advancing."

Executive Team

Bicara’s executive team brings years of experience in company-building, oncology, immunology and drug development:

Claire Mazumdar, Ph.D., MBA, Chief Executive Officer, was part of the founding team at Rheos Medicines, an immuno-metabolism company launched from Third Rock Ventures, and a Senior Associate at Third Rock Ventures supporting business development for a number of portfolio companies.
Ryan Cohlhepp, Pharm.D., President and Chief Operating Officer, was part of the founding team at Rheos Medicines and brings more than 20 years of experience in driving drug development and commercialization, including at Takeda Oncology.
Ivan Hyep, MBA, Chief Financial Officer, brings 15 years of experience in finance and strategy, including leadership roles at MOMA Therapeutics and Third Rock Ventures.
Liviu Niculescu, M.D., Ph.D., Chief Medical Officer, previously served as Head of Clinical Development for Oncology and Global Medical Affairs at bluebird bio, following leadership positions at Pfizer and Takeda Oncology.
Seng-Lai (Thomas) Tan, Ph.D., Chief Scientific Officer, brings more than 20 years of experience in immunology and R&D and has most recently held leadership positions at companies including Elstar Therapeutics and Forma Therapeutics.
Board of Directors

Bicara’s board of directors brings significant scientific insights, business development expertise and biotech experience:

Vijay Kuchroo (Chairman), D.V.M., Ph.D., Samuel L. Wasserstrom Professor of Neurology at Harvard Medical School, Senior Scientist at Brigham and Women’s Hospital
F. Stephen Hodi, Jr., M.D., Professor of Medicine, Harvard Medical School, Professor of Medical Oncology, Dana-Farber Cancer Institute
Nils Lonberg, Ph.D., Executive-in-Residence at Canaan Partners, most recently Senior Vice President, Oncology Discovery Biology, at Bristol Myers Squibb
Kiran Mazumdar-Shaw, Executive Chairperson and Founder of Biocon, Ltd.
Scientific Advisory Board

Bicara’s global scientific advisory board includes pioneers in cancer immunotherapy and leading investigators of the tumor microenvironment:

Chaitanya Divgi, MBBS, a nuclear medicine scientist with more than 30 years of leading programs in nuclear oncology
Thomas Gajewski, M.D., Ph.D., AbbVie Foundation Professor of Cancer Immunotherapy at the University of Chicago
Caetano Reis e Sousa, D.Phil., Professor of Immunology at Imperial College London and Senior Group Leader and Assistant Research Director at the Francis Crick Institute
Arlene Sharpe, M.D., Ph.D., George Fabyan Professor of Comparative Pathology and Chair of the Department of Immunology at Harvard Medical School
Dario Vignali, Ph.D., Frank Dixon Chair in Cancer Immunology at the University of Pittsburgh School of Medicine and Co-Director of the Tumor Microenvironment Center at University of Pittsburgh Cancer Institute
Jedd Wolchok, M.D., Ph.D., Chief of the Melanoma and Immunotherapeutics Service; Associate Attending Physician and Lloyd J. Old/Virginia and Daniel K. Ludwig Chair in Clinical Investigation at Memorial Sloan Kettering Cancer Center
About BCA101

Bicara’s lead candidate, BCA101, is a first-in-class EGFR / TGFβ-trap bifunctional antibody designed to enhance both innate and adaptive immune responses directly at the site of the tumor by binding to the well-validated EGFR antigen and disabling TGFβ, a signaling molecule that plays a key role in suppressing the immune response in the tumor microenvironment. Promising preclinical data suggest that BCA101 is superior to the anti-EGFR antibody cetuximab in preventing tumor recurrence, as well as in restoring immune activation. An ongoing Phase 1/2 clinical trial of BCA101, initiated in July 2020, has dosed the first four cohorts of patients in a dose-escalation study with BCA101 as a single agent. A second arm of the study began enrolling patients for combination treatment with BCA101 and pembrolizumab, a PD-1 inhibitor, in January 2021. For more information, please visit clinicaltrials.gov.

Corcept Therapeutics Initiates Phase 1b Trial of Relacorilant Plus Pembrolizumab (Keytruda®) in Patients with Adrenal Cancer with Cortisol Excess

On March 15, 2021 Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of drugs to treat severe metabolic, oncologic and psychiatric disorders by modulating the effects of cortisol, reported enrollment of the first patient in the Phase 1b trial of relacorilant in combination with the PD-1 checkpoint inhibitor pembrolizumab (Merck’s medication, Keytruda) in patients with adrenal cancer with cortisol excess (Press release, Corcept Therapeutics, MAR 15, 2021, https://ir.corcept.com/news-releases/news-release-details/corcept-therapeutics-initiates-phase-1b-trial-relacorilant-plus [SID1234576630]).

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"Cortisol activity blunts the cancer-killing attributes of immunotherapeutic agents such as checkpoint inhibitors," said Andreas Grauer, MD, Corcept’s Chief Medical Officer, "which may be why pembrolizumab is rarely effective as monotherapy in patients with adrenal cancer with cortisol excess. Our trial will examine whether adding relacorilant to pembrolizumab therapy will reduce cortisol-activated immune suppression sufficiently to help pembrolizumab achieve its intended tumor-killing effect, while relacorilant treats the Cushing’s syndrome caused by excess cortisol activity."

The open-label, Phase 1b trial has a planned enrollment of 20 patients with metastatic or unresectable adrenal cancer with cortisol excess at five sites in the United States.

About Relacorilant

Relacorilant is a non-steroidal, selective modulator of the glucocorticoid receptor that does not bind to the body’s other hormone receptors. Corcept is studying relacorilant in a variety of serious disorders, including Cushing’s syndrome and adrenal, ovarian and pancreatic cancer. Relacorilant is proprietary to Corcept and is protected by composition of matter and method of use patents. Relacorilant has received orphan drug designation in the United States for the treatment of Cushing’s syndrome and pancreatic cancer.

VLP Therapeutics raises $16M Series A for cancer treatment vaccine R&D

On March 15, 2021 US-based biotech company VLP Therapeutics, Inc. (VLPT) reported on March 15 that it has raised US$16 million in a Series A funding round from MIYAKO Capital Co., Ltd., Sojitz Corporation, Konishiyasu Co., Ltd., in Japan and three existing investors in the US (Mr. Robert G. Hisaoka, SK Impact Fund, LLC, and RJ Fund, LLC) for research and development of a cancer treatment vaccine (Press release, VLP Therapeutics, MAR 15, 2021, View Source [SID1234576617]). With this funding, VLPT aims to accelerate the project well underway in the US and move into clinical trials at the earliest date possible.

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"I have a high hope for VLP Therapeutics to become a leading company with its innovative platform technologies in the fields of infectious diseases and cancer, deep-rooted with CEO Wataru Akahata’s continuing commitment to virus and vaccine research and extensive experience of clinical trials," says Dr. Hiroyuki Misawa, director and partner of MIYAKO Capital Co., Ltd. "It is my great pleasure to back up, as a shareholder, a biotech company with such advanced technologies."

VLPT aims to further the project in the US and get the green light to clinical trials at the earliest date possible.

"I am optimistic that the innovative vaccines now being developed at VLP Therapeutics will make a significant contribution to the treatment of cancer, the prevention of malaria and dengue fever, and the fight against new threats such as COVID-19. In turn, I believe this will improve health and well-being for all and advance the development of medicine," says Masayoshi Fujimoto, president and CEO of Sojitz Corporation. "We, Sojitz Corporation, are very pleased to work with VLPT CEO Wataru Akahata, an ambitious scientist with considerable experience in vaccine R&D, as well as with the members of the research team and the company founders who are well-versed in pharmaceutical development. We will do whatever we can to help VLPT grow going forward."

"Since its inception over 190 years ago, we, Koshishiyasu, have been devoted to making the world a better place through the sales of industrial chemicals. It is therefore our great honor to invest in the cancer treatment vaccine R&D underway at VLP Therapeutics, which is also combating malaria and Covid-19 with its novel technologies," says Toshiyuki Konishi, president and CEO of Konishiyasu Co., Ltd. "We are confident that, by financially supporting VLPT, we can contribute to the well-being of society, and they will make further progress in their vaccine R&D efforts."