Roche’s Tecentriq in combination with chemotherapy (including Abraxane) meets primary endpoint of improved pathological complete response, regardless of PD-L1 status, as initial treatment for people with early triple-negative breast cancer

On June 18, 2020 Roche (SIX: RO, ROG; OTCQX: RHHBY) reported that the Phase III IMpassion031 study, evaluating Tecentriq (atezolizumab) in combination with chemotherapy (Abraxane, albumin-bound paclitaxel; nab-paclitaxel; followed by doxorubicin and cyclophosphamide) in comparison to placebo plus chemotherapy (including Abraxane), met its primary endpoint by demonstrating a statistically significant and clinically meaningful improvement in pathological complete response (pCR) for the treatment of people with early triple-negative breast cancer (TNBC), regardless of PD-L1 expression (Press release, Hoffmann-La Roche, JUN 18, 2020, View Source [SID1234561205]).

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"Triple-negative breast cancer remains an aggressive disease with high rates of recurrence," said Levi Garraway, M.D., Ph.D., Roche’s Chief Medical Officer and Head of Global Product Development. "Our goal in treating TNBC at its earliest stages is to provide people with the best chance for a future cure. Adding Tecentriq to chemotherapy now has the potential to help women with TNBC at multiple different stages of the disease."

In the study, fewer patients who received the Tecentriq combination as a neoadjuvant (before surgery) treatment had evidence of tumour tissue detectable at the time of surgery (known as pCR), regardless of PD-L1 expression, in comparison to the control arm. Neoadjuvant treatment may allow a doctor to quickly assess whether a medicine is working and may also reduce a tumour’s size so it is easier to surgically remove. pCR is a common measure of neoadjuvant treatment effect and can be assessed more quickly than traditional endpoints in early stage breast cancer.

Safety for the Tecentriq combination appeared to be consistent with the known safety profiles of the individual medicines and no new safety signals were identified. Results of the IMpassion031 study will be presented at an upcoming medical meeting and will be discussed with global health authorities including the US Food and Drug Administration (FDA) and European Medicines Agency (EMA).

The IMpassion031 study is the second positive Phase III study from Roche demonstrating the benefit of Tecentriq in TNBC, and the first Tecentriq study to demonstrate benefit in early TNBC. Tecentriq in combination with nab-paclitaxel is currently approved in more than 70 countries worldwide, including the US and across Europe, for the treatment of adults with unresectable locally advanced or metastatic TNBC in people whose tumours express PD-L1 (IC≥1%).

Roche has an extensive development programme for Tecentriq, including multiple ongoing and planned Phase III studies across lung, genitourinary, skin, breast, gastrointestinal, gynaecological, and head and neck cancers. This includes studies evaluating Tecentriq both alone and in combination with other medicines.

About the IMpassion031 study
The IMpassion031 study is a Phase III, multicentre, randomised, double-blind study evaluating the efficacy and safety of Tecentriq in combination with chemotherapy (nab-paclitaxel; followed by doxorubicin and cyclophosphamide) in comparison to placebo plus chemotherapy, in people with previously untreated, early TNBC. The study enrolled 333 people who were randomised in a 1:1 ratio to receive Tecentriq or placebo plus chemotherapy in the neoadjuvant (before surgery) setting. Treatment with Tecentriq continued adjuvantly (after surgery) for those in the Tecentriq arm of the study. The primary endpoint is pCR using the American Joint Committee on Cancer (AJCC) staging system in the intention-to-treat (ITT) population and in the PD-L1-positive population. Secondary endpoints include overall survival (OS), event-free survival, disease-free survival and quality of life measures.

About triple-negative breast cancer
Breast cancer is the most common cancer among women with more than 2 million diagnosed worldwide each year.1 TNBC represents ~15% of all breast cancers and is more common in women under the age of 50, compared with other forms of breast cancer.2-4 It is defined by the lack of expression and/or amplification of the targetable receptors for oestrogen, progesterone and HER2 amplification.5 Patients with metastatic TNBC generally experience rapid progression and shorter OS compared to other subtypes of breast cancer.3

About Roche in breast cancer
Roche has been advancing breast cancer research for more than 30 years with the goal of helping as many people with the disease as possible. Our medicines, along with companion diagnostic tests, have contributed to bringing breakthrough innovations in HER2-positive and triple-negative breast cancers. As our understanding of breast cancer biology rapidly improves, we are working to identify new biomarkers and approaches to treatment for all forms of early and advanced breast cancer, including triple-negative and hormone receptor-positive.

Our targeted medicines Herceptin, Perjeta, Kadcyla and Tecentriq are continuing to transform the treatment of early and advanced HER2-postive and triple-negative breast cancers and, through our Tecentriq and ipatasertib clinical programmes, we hope to bring new treatment combinations to people with breast cancer, ultimately improving outcomes.

About Tecentriq
Tecentriq is a monoclonal antibody designed to bind with a protein called PD-L1, which is expressed on tumour cells and tumour-infiltrating immune cells, blocking its interactions with both PD-1 and B7.1 receptors. By inhibiting PD-L1, Tecentriq may enable the activation of T-cells. Tecentriq is a cancer immunotherapy that has the potential to be used as a foundational combination partner with other immunotherapies, targeted medicines and various chemotherapies across a broad range of cancers. The development of Tecentriq and its clinical programme is based on our greater understanding of how the immune system interacts with tumours and how harnessing a person’s immune system combats cancer more effectively.

Tecentriq is approved in the US, EU and countries around the world, either alone or in combination with targeted therapies and/or chemotherapies in various forms of non-small cell and small cell lung cancer, certain types of metastatic urothelial cancer and in PD-L1-positive metastatic triple-negative breast cancer. In the US, Tecentriq in combination with Avastin is approved for people with unresectable or metastatic hepatocellular carcinoma.

About Roche in cancer immunotherapy
Roche’s rigorous pursuit of groundbreaking science has contributed to major therapeutic and diagnostic advances in oncology over the last 50 years, and today, realising the full potential of cancer immunotherapy is a major area of focus. With over 20 molecules in development, Roche is investigating the potential benefits of immunotherapy alone, and in combination with chemotherapy, targeted therapies or other immunotherapies with the goal of providing each person with a treatment tailored to harness their own unique immune system to attack their cancer. Our scientific expertise, coupled with innovative pipeline and extensive partnerships, gives us the confidence to continue pursuing the vision of finding a cure for cancer by ensuring the right treatment for the right patient at the right time.

In addition to Roche’s approved PD-L1 checkpoint inhibitor, Tecentriq (atezolizumab), Roche’s broad cancer immunotherapy pipeline includes other checkpoint inhibitors, such as tiragolumab, a novel cancer immunotherapy designed to bind to TIGIT, individualised neoantigen therapies and T-cell bispecific antibodies. To learn more about Roche’s scientific-led approach to cancer immunotherapy, please follow this link:
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CryoLife Announces Offering of Convertible Senior Notes Due 2025

On June 18, 2020 CryoLife, Inc. (NYSE: CRY) ("CryoLife" or "the Company"), a leading cardiac and vascular surgery company focused on aortic disease, reported that it intends to offer, subject to market conditions and other factors, $100,000,000 aggregate principal amount of convertible senior notes due 2025 (the "Notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") (Press release, CryoLife, JUN 18, 2020, View Source [SID1234561238]). CryoLife also intends to grant the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $15,000,000 aggregate principal amount of the Notes.

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The Notes will be senior unsecured obligations of the Company. The Notes are expected to pay interest semiannually and will mature on July 1, 2025, unless earlier converted, redeemed or repurchased in accordance with their terms. Conversion of the Notes will be settled in cash, shares of the Company’s common stock, or a combination thereof, at the Company’s election. The final terms of the Notes, including the interest rate, initial conversion rate, and other terms, will be determined by negotiations between the Company and the initial purchasers of the Notes.

The Company expects to use the net proceeds from the offering for general corporate purposes, including the repayment of approximately $30 million outstanding under its revolving credit facility. If the initial purchasers exercise their option to purchase additional Notes, the Company expects to use the net proceeds from the sale of the additional Notes for general corporate purposes.

This press release does not and shall not constitute an offer to sell nor a solicitation of an offer to buy the Notes or shares of the Company’s common stock, nor shall there be any offer, solicitation or sale of the Notes or such common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of an offering memorandum.

The Notes and any shares of the Company’s common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The offering of the Notes is being made only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.

Oasmia Pharmaceutical AB (publ). Year-end report for the financial year May 1, 2019 – April 30, 2020

On June 18, 2020Oasmia Pharmaceutical AB (publ). reported that Year-end report for the financial year May 1, 2019 – April 30, 2020 (Press release, Oasmia, JUN 18, 2020, View Source [SID1234561206]).

Oasmia and Elevar signed a global strategic partnership for the commercialization of Apealea with an upfront payment of USD 20 million, milestone payments with a potential of up to USD 678 million and double digit royalties. Oasmia received the upfront payment of USD 20 million.

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The Board of Directors appointed Dr. Francois Martelet as the new CEO. He took up his position on March 9 and replaced Dr. Sven Rohmann, who has been acting CEO during a crucial turnaround period. Dr. Rohmann remains as a Board member.
In early February, Oasmia launched its product, Apealea 60 mg, in Sweden, Denmark and Finland. The first batch of the drug was shipped to distributors in these countries.
The outbreak of Covid19 and its effects on society accelerated during the quarter. Due to the situation with the Covid19 virus, the company experiences a negative impact on its business due to the lack of access to health care providers and oncologists.
Oasmia’s Nomination Committee suggested changes to the Board of Directors to focus on members with pharmaceutical industry experience. The Company sent out a notice of an Extraordinary General Meeting on May 14 to decide on these changes.
EVENTS AFTER THE BALANCE SHEET DATE
Oasmia announced outcome of strategic review to deliver long-term, profitable growth as a specialty pharma company.
The company held an Extraordinary General Meeting on May 14, at the offices of the company in Uppsala. The Extraordinary General Meeting resolved, in accordance with the Nomination Committee’s proposal, about the following changes in the Board of Directors up to the next Annual General Meeting. Existing board member Anders Härfstrand became the new Chairman of the Board and Birgit Stattin Norinder became new member of the Board. Jörgen Olsson, former Chairman of the Board, and Gunilla Öhman, former Board member, left the Board.
On June 1, Oasmia announced that it had entered into a comprehensive settlement agreement with the plaintiffs in a Class Action filed against the Company in the United States in 2019.
On June 8, Oasmia announced that it had signed Phase 1b Trial Agreement with SAKK, The Swiss Group for Clinical Cancer Research for Evaluation of Docetaxel Micellar in advanced prostate cancer patients.
FOURTH QUARTER February 1, 2020 – April 30, 2020
Consolidated net sales amounted to TSEK 201,265 (266)
Operating income was TSEK 110,531 (-75,192)
Net income after tax amounted to TSEK 106,480 (-79,538)
Earnings per share was SEK 0.24 (-0.31)2
FINANCIAL YEAR May 1, 2019 – April 30, 2020
Consolidated net sales amounted to TSEK 201,843 (1,980)
Operating loss was TSEK -30,667 (-150,818)
Net loss after tax amounted to TSEK -11,114 (-201,881)
Loss per share was SEK -0.03 (-0.80)2
CEO’S COMMENTS
A new vision for growth

Since joining Oasmia in March 2020, I have been impressed by the quality and potential of our technology and capabilities, and the untapped potential of the development pipeline. During the first few months of 2020, Oasmia has signed a transformative global strategic partnership for our lead product Apealea, started to launch Apealea in the Nordics and set out a clear plan to accelerate growth both organically and through acquisitions, as well as significantly control our costs.

Apealea, our water-soluble, intravenously injectable formulation of paclitaxel, has continued to make progress since its approval in the European Union for the treatment of advanced ovarian cancer. Apealea was developed using our proprietary XR-17 platform technology, which facilitates the solubility of paclitaxel, improving safety, reducing infusion time for patients and almost eliminating the need for corticotherapy ahead or after treatment. Apealea’s approval and launch has demonstrated Oasmia’s ability to develop and deliver new products to market that meet unmet medical needs and enhance drug safety.
In early February, Apealea became commercially available in the Nordic region, a first step towards a pan-European launch. The launch in the Nordic countries has been significantly limited due to the Covid19 pandemic.

In March, we announced a global strategic partnership with Elevar Therapeutics, the US subsidiary of the multinational South Korean company HLB Co., LTD, to commercialize Apealea, in return for an upfront payment of $20 million, potential milestone payments of up to $678 million and double-digit royalties on future sales. This transformative agreement is a significant endorsement of the potential of the XR-17 platform in oncology and gives us a solid foundation for further significant progress.

Oasmia is now ideally placed to move into the next phase of growth. Following an extensive review assessing all aspects of the business initiated shortly after my appointment as CEO, we set out the strategic vision to broaden our focus and establish Oasmia as a leading specialty pharmaceutical company based in Sweden. To fulfil this goal, we have announced plans to maximize Oasmia’s resources, realise the full potential of the XR-17 platform technology and optimise the Company’s path towards long-term, profitable growth. We have identified a number of areas of strategic focus.

Firstly, we will continue to explore additional opportunities to apply Oasmia’s proprietary XR-17 solubility-enhancing technology platform in oncology, as well as in other therapeutic areas. This may include the out-licensing of non-core applications.

Secondly, we will continue to drive the development of our pipeline of XR-17-based products, including docetaxel micellar in prostate cancer and in collaboration with the well-known swiss research group SAKK, and we will assess the feasibility of the combination cancer therapy XR-19. We will leverage the experience of the Company’s GMP manufacturing facilities for R&D purposes.

Finally, we will look to expand Oasmia’s pipeline through acquisitions and/or in-licensing deals, with a focus on specialty pharmaceutical assets that will move the company towards positive cash flow.

In parallel, we are undertaking a comprehensive cost control program designed to maximise resources and enable us to invest in areas which can deliver the greatest return. We aim to achieve annualised cost savings of more than SEK 100 million, a ~50% reduction in the cash burn rate to below SEK 10 million a month. With Elevar assuming a greater role in the manufacturing of Apealea following the commercial agreement, Oasmia will be able to focus more on R&D manufacturing, which will significantly improve our operating efficiency.

At the same time we are working to strengthen the skills and capabilities of the management team and will aim to bring in highly talented and experienced managers from the pharmaceutical/biotechnology world.

The outlook is very promising. Oasmia is in a strong cash position, has a product approved in Europe with global potential and near-term value drivers in the pipeline. With our flexibility and proven expertise in product development and commercialization, we are also well placed for M&A, Business Development and partnering opportunities. We look forward to the initiation of a Phase I study investigating our product candidate docetaxel micellar, a solvent-free formulation of docetaxel (Taxotere) which is extensively used in the treatment of breast cancer, head and neck cancer, stomach cancer, prostate cancer and non-small-cell lung cancer. We hope to see Phase 1 results for docetaxel micellar in advanced prostate cancer within the next 12-18 months.

We continue to focus our efforts on developing compounds and/or products for unmet medical needs of patients suffering from cancer.

I would like to thank our shareholders and employees for their continued support. I am proud to be leading Oasmia at this important time in its development and I am confident we are well positioned to begin the next stage of innovation, growth and value generation to benefit both patients and shareholders.
Dr. Francois Martelet, M.D., CEO of Oasmia

Forma Therapeutics Announces Pricing of Initial Public Offering

On June 18, 2020 Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, reported the pricing of its initial public offering of 13,882,352 shares of common stock at a public offering price of $20.00 per share (Press release, Forma Therapeutics, JUN 18, 2020, View Source [SID1234561222]). All of the shares are being offered by Forma. The shares are expected to begin trading on the Nasdaq Global Market on June 19, 2020 under the ticker symbol "FMTX." The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Forma, are expected to be approximately $277.6 million. The offering is expected to close on June 23, 2020, subject to the satisfaction of customary closing conditions. In addition, Forma has granted the underwriters a 30-day option to purchase up to an additional 2,082,352 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

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Jefferies, SVB Leerink and Credit Suisse are acting as joint book-running managers for the offering.

Registration statements relating to these securities became effective on June 18, 2020. The offering will be made only by means of a prospectus, copies of which may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6218, or by email at [email protected]; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at [email protected].

ArcherDX Enters Collaboration with Bristol Myers Squibb to Apply Personalized Cancer Monitoring (PCM™) to Clinical Research

On June 18, 2020 ArcherDX, Inc. reported it is entering into a collaboration with Bristol Myers Squibb (BMS) to utilize Personalized Cancer Monitoring (PCM) assays to understand the potential benefits of minimal residual disease (MRD) detection in cancer patients treated with immunotherapy (Press release, ArcherDX, JUN 18, 2020, View Source [SID1234561239]). PCM provides tumor-informed longitudinal analysis of circulating tumor DNA (ctDNA) found in patient blood where the quantity of ctDNA is a predictor of disease stage and burden, and achieves accuracy at low limits of detection by focusing the ctDNA analysis on known patient-specific mutations found in the tumor tissue.i ArcherDX and BMS will evaluate the clinical samples from cancer patient cohorts with the goal of advancing the use of MRD detection or ctDNA clearance to potentially inform future therapy selection and/or optimization.

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"Collaborating with BMS, a leader in oncology, is a significant step toward accomplishing our common goal of improving patient outcomes. We are delighted BMS chose to leverage our Personalized Cancer Monitoring assays for clinical research aimed at expanding precision oncology into early-stage cancers, when the cancer is typically easier to cure compared to late-stage cancers," said Jason Myers, Chief Executive Officer and co-founder of ArcherDX. "This collaboration further underscores our intention to facilitate real-time monitoring of ctDNA during and after therapy with personalized, decentralized assays that can be distributed across the globe and could potentially optimize the use of current and future cancer therapies."

ArcherDX’s PCM development program is being advanced by ArcherDX and is supported by a collaboration led by Professor Charles Swanton of UCL and the Francis Crick Institute to detect evidence of disease progression in lung cancer patients from cell-free ctDNA as part of the Cancer Research UK-funded UCL-sponsored TRACERx study.[1] PCM applies ArcherDX’s proprietary Anchored Multiplex PCR (AMP) technology to accurately detect exceedingly low levels of cancer-derived DNA from patient blood.

About Personalized Cancer Monitoring
PCM is a patient-specific assay for monitoring residual disease, disease recurrence and progression of cancer. At initial diagnosis, exome sequencing of the surgically removed tumor or a tumor biopsy is used to identify patient-specific cancer mutations. A patient-specific assay is delivered to the laboratory affiliated with the patient’s care team. Clinicians use the personalized assay to measure ctDNA taken from non-invasive peripheral blood draws at specified intervals, producing a quantitative longitudinal view of the cancer’s evolution.

PCM is currently available and sold under a research use only (RUO) designation and is not yet approved for broad clinical use. Once it receives regulatory approval, PCM could ultimately expand the use of precision oncology to early-stage cancers, potentially providing faster diagnostic solutions in the future at local and regional laboratories inside and outside the U.S.