OncoZenge secures approximately SEK 70 million in financing ahead of spin-off and separate listing

On November 16, 2020 Moberg Pharma’s subsidiary OncoZenge reported that it has received binding undertakings regarding a directed issue of shares of SEK 10 million and a fully secured rights issue of shares of approximately SEK 60 million (Press release, OncoZenge, NOV 16, 2020, View Source [SID1234571199]). The investors, which include John Fällström, Linc AB and Moberg Pharma’s largest shareholder, Östersjöstiftelsen, are subscribing for shares in the directed issue and have committed to subscribe for their parts and guarantee the remainder of the rights issue in OncoZenge.

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On November 6th, 2020, Moberg Pharma announced its intention to distribute OncoZenge ("OncoZenge" or "the Company") through a Lex ASEA distribution before listing the Company on Nasdaq First North Growth Market, and to evaluate opportunities to finance OncoZenge’s operations. OncoZenge is developing the BUPI project under the brand name BupiZenge for treatment of pain due to oral mucositis, a serious side effect of cancer treatment. BupiZenge has demonstrated promising results in a Phase 2 study, and the next step is a Phase 3 study which could serve as the basis for registration in Europe.

The capital requirement to finance the Phase 3 study, expected to begin in early 2022, and the Company’s continuing operations is approximately SEK 60 million. To secure working capital ahead of OncoZenge’s listing, an initial directed issue of SEK 10 million will be completed after the previously announced extraordinary general meeting in Moberg Pharma on December 1, 2020 which also will resolve on, amongst other things, a Lex ASEA distribution. The next steps, planned in the first quarter of 2021, are a separate listing on Nasdaq First North Growth Market and a fully guaranteed rights issue where Moberg Pharma’s shareholders (as shareholders of OncoZenge following the completed Lex ASEA distribution) are offered to participate.

Directed Issue
To secure its initial capital requirements, OncoZenge has received binding commitments for a directed issue of approximately SEK 10 million ("Directed Issue"). The largest investors in the Directed Issue are John Fällström, Linc AB and Östersjöstiftelsen. Based on the subscription price in the Directed Issue, the value of OncoZenge before the Directed Issue is approximately SEK 50 million, resulting in a dilution of approximately 16.7 percent from the Directed Issue. The Directed Issue is contingent on approval by the extraordinary general meeting in Moberg Pharma on December 1, 2020 for the distribution of OncoZenge according to Lex ASEA. Linc AB has expressed interest for representation on the Board of Directors of OncoZenge, which is supported by the Company’s principal shareholders.

Spin-off through Lex ASEA distribution and separate listing on Nasdaq First North
The Board of Directors of Moberg Pharma has called an extraordinary general meeting on December 1, 2020 and propose that its shares in OncoZenge will be distributed to Moberg Pharma’s shareholders according to Lex ASEA. The Company’s assessment is that the distribution qualifies as a Lex ASEA distribution and will not be subject to taxation for the shareholders. The Company has requested an advance ruling from the Swedish Tax Agency for further clarification, which will be published on Moberg Pharma’s website when available. The record date to receive shares in OncoZenge is expected to fall in January/February 2021.

Provided that the extraordinary general meeting approve the distribution of OncoZenge, the Company intends to apply for a separate listing on Nasdaq First North Growth Market with the first day of trading expected in the first quarter of 2021.

Rights Issue
The Directed Issue of approximately SEK 10 million is expected to finance planned activities in OncoZenge until the start of 2022, when the clinical Phase 3 study is planned to commence. To finance the clinical study and other activities, OncoZenge intends to carry out a fully guaranteed rights issue ("the Rights Issue"), which is expected to provide the Company with proceeds of around SEK 60 million before costs. The subscription price in the Rights Issue will correspond to a valuation of around SEK 60 million, i.e., the same valuation as in the Directed Issue adjusted for the issue proceeds of SEK 10 million from the Directed Issue. The subscription period for the Rights Issue is expected to begin directly after the first day of trading of the shares in OncoZenge. Further details on terms and conditions and the timetable will be announced in January 2021.

The Directed Issue is expected to be registered before the record date for the Rights Issue. As a result, investors in the Directed Issue will be able to subscribe for their parts in the Rights Issue. All investors in the Directed Issue have committed to subscribe for their parts in the Rights Issue. Moreover, Östersjöstiftelsen, which through its ownership in Moberg Pharma and participation in the Directed Issue will own around 10 percent of the shares in OncoZenge, has committed to subscribe for its parts of the Rights Issue. Through the Lex ASEA distribution, shareholders in Moberg Pharma will receive shares in OncoZenge and thereby qualify to participate in the Rights Issue. In total, the Rights Issue is secured by subscription commitments amounting to approximately 26 percent, while the remaining approximate 74 percent is comprised of guarantee commitments by the investors in the Directed Issue. The guarantee compensation corresponds to eight percent of the guaranteed amount (i.e., on the portion exceeding each investor’s pro rata share).

"The great interest from well-reputed investors is very positive and enables BupiZenge to further progress its clinical program and OncoZenge to become a listed company in the near future. I look forward to leading the continued development focusing on our upcoming Phase 3 study in an indication area with significant need for better treatment alternatives. The goal is to offer patients much better pain relief and to create value for our shareholders," says Pirkko Tamsen, CEO of OncoZenge.

"The separate listing on Nasdaq First North and subsequent Rights Issue provide an opportunity to develop the potential in BupiZenge and also provide shareholders of Moberg Pharma an opportunity to invest and participate in the value creation in OncoZenge," says Anna Ljung, CEO of Moberg Pharma.

Astellas to Present New Data on Gilteritinib in FLT3 Mutation-Positive Acute Myeloid Leukemia at the 2020 American Society of Hematology Annual Meeting

On November 16, 2020 Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., "Astellas") reported the presentation of new data in acute myeloid leukemia (AML) at the virtual 62nd American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition, taking place December 5-8, 2020 (Press release, Astellas, NOV 16, 2020, View Source [SID1234571102]).

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Nine Astellas-sponsored abstracts focused on patients with AML with a positive FLT3 mutation (FLT3mut+) are being presented, comprising five oral presentations, three posters and one online-only presentation. Oral presentations include new data on the use of gilteritinib, either as monotherapy or in combination, across the FLT3mut+ AML patient spectrum – from those newly diagnosed, to relapsed or refractory patients who have been pre-treated with other tyrosine kinase inhibitors (TKIs) – as well as a secondary analysis of the Phase 3 ADMIRAL trial.

"The research being presented at ASH (Free ASH Whitepaper) will shed light on critical unmet needs and continuing progress against AML, which remains a hard-to-treat cancer in spite of continuing medical advances," said Andrew Krivoshik, M.D., Ph.D., Senior Vice President and Oncology Therapeutic Area Head, Astellas. "Several presentations will describe the effects of gilteritinib in a wide range of AML patients with a positive FLT3 mutation. We also look forward to discussing our Phase 3 LACEWING trial in progress, as well as findings from the STREAMLINE study related to real-world FLT3 testing rates in AML patients, both upon diagnosis and after relapse."

Gilteritinib is approved as XOSPATA in the U.S. and selected other countries for the treatment of adult patients who have relapsed or refractory FLT3mut+ AML.

Oral Presentations

Title: A Phase 1 Study of Gilteritinib in Combination with Induction and Consolidation Chemotherapy in Patients with Newly Diagnosed AML: Final Results (Abstract 24)

Presenting author: Dr. Keith W. Pratz, Sidney Kimmel Comprehensive Cancer Center, Johns Hopkins University, Baltimore
Session Date/Time: Saturday, Dec. 5, 7:30 a.m. PST
Title: Phase 3, Multicenter, Open-Label Study of Gilteritinib, Gilteritinib Plus Azacitidine, or Azacitidine Alone in Newly Diagnosed FLT3 Mutated (FLT3mut+) Acute Myeloid Leukemia (AML) Patients Ineligible for Intensive Induction Chemotherapy (Trial in progress) (Abstract 27)

Presenting author: Dr. Eunice S. Wang, Department of Medicine, Roswell Park Comprehensive Cancer Center, Buffalo, N.Y.
Session Date/Time: Saturday, Dec. 5, 8:15 a.m. PST
Title: Comparison of Gilteritinib and Salvage Chemotherapy in FLT3-Mutated Acute Myeloid Leukemia on the Number Needed to Treat for Various Clinical Outcomes: A Secondary Analysis of the ADMIRAL Trial (Abstract 213)

Presenting author: Amer M. Zeidan, Yale University School of Medicine and Yale Cancer Center, New Haven, Conn.
Session Date/Time: Saturday, Dec. 5, noon PST
Title: Efficacy and Safety of Venetoclax in Combination with Gilteritinib for Relapsed/Refractory FLT3 Mutated Acute Myeloid Leukemia in the Expansion Cohort of a Phase 1b Study (Abstract 333) (Supported by AbbVie, Astellas and Genentech)

Presenting author: Dr. Naval G. Daver, Department of Leukemia, The University of Texas MD Anderson Cancer Center, Houston
Session Date/Time: Sunday, Dec. 6, 10:15 a.m. PST
Title: Clinical Outcomes in Patients with Relapsed/Refractory Acute Myeloid Leukemia Treated with Gilteritinib Who Received Prior Midostaurin or Sorafenib (Abstract 334)

Presenting author: Dr. Alexander E. Perl, Abramson Cancer Center, University of Pennsylvania, Philadelphia
Session Date/Time: Sunday, Dec. 6, 10:30 a.m. PST
Poster Presentations
Poster presentations are available online from Saturday, Dec. 5, 7 a.m. PST to Monday, Dec. 7, 3:30 p.m. PST.

Title STREAMLINE – Retrospective Cohort Study of Relapsed or Refractory (R/R) FLT3-Mutated Acute Myeloid Leukemia (AML): Real-World Treatment, Testing Patterns, and Outcomes (Abstract 2826)

Presenting author: Dr. Amer M. Zeidan, Yale University School of Medicine and Yale Cancer Center, New Haven, Conn.
Title: Clinical Outcomes Following Treatment with Gilteritinib or Quizartinib in Patients with Relapsed/Refractory FLT3-ITD+ Acute Myeloid Leukemia (Abstract 995)

Presenting author: Dr. Alexander E. Perl, Abramson Cancer Center, University of Pennsylvania, Philadelphia
Title: Pain and Opioid Use in Patients with FLT3 Mutation-Positive Relapsed/Refractory AML: A Subanalysis of Patient-Reported Outcomes from the ADMIRAL Trial (Abstract 2568)

Presenting author: Manasee V. Shah, Global Health Economics and Outcomes Research, Astellas
Online-Only Presentation

Title: Real-World Use of FLT3-TKIs in R/R FLT3-Mutated AML in the United States (Abstract 4413)

Astellas-Supported Satellite Symposium
Astellas will support the following pre-meeting Friday Satellite Symposia Live Webinar.

Title: Consensus or Controversy? Investigators Discuss Clinical Practice Patterns and Available Research Data Guiding the Management of Acute Myeloid Leukemia (Part 3 of a 4-part Series)

Session Date/Time: Friday, Dec. 4, 3-6 p.m. PST
About Gilteritinib
Gilteritinib was discovered through a research collaboration with Kotobuki Pharmaceutical Co., Ltd., and Astellas has exclusive global rights to develop, manufacture and commercialize gilteritinib. Gilteritinib is available as XOSPATA in the U.S., Japan and selected European countries, among others, for the treatment of adult patients who have relapsed or refractory FLT3mut+ AML.1 Gilteritinib is an FMS-like tyrosine kinase 3 (FLT3) inhibitor with demonstrated activity against FLT3-ITD, a common driver mutation that presents with a high burden and poor prognosis, and FLT3-TKD mutations.2

About XOSPATA (gilteritinib) in the United States
XOSPATA is indicated for the treatment of adult patients who have relapsed or refractory acute myeloid leukemia (AML) with an FMS-like tyrosine kinase 3 (FLT3) mutation as detected by an FDA-approved test.3

Important Safety Information

WARNING: DIFFERENTIATION SYNDROME

Patients treated with XOSPATA have experienced symptoms of differentiation syndrome, which can be fatal or life-threatening if not treated. Symptoms may include fever, dyspnea, hypoxia, pulmonary infiltrates, pleural or pericardial effusions, rapid weight gain or peripheral edema, hypotension, or renal dysfunction. If differentiation syndrome is suspected, initiate corticosteroid therapy and hemodynamic monitoring until symptom resolution.

Contraindications
XOSPATA is contraindicated in patients with hypersensitivity to gilteritinib or any of the excipients. Anaphylactic reactions have been observed in clinical trials.

Warnings and Precautions

Differentiation Syndrome (See BOXED WARNING) 3% of 319 patients treated with XOSPATA in the clinical trials experienced differentiation syndrome. Differentiation syndrome is associated with rapid proliferation and differentiation of myeloid cells and may be life-threatening or fatal if not treated. Symptoms of differentiation syndrome in patients treated with XOSPATA included fever, dyspnea, pleural effusion, pericardial effusion, pulmonary edema, hypotension, rapid weight gain, peripheral edema, rash, and renal dysfunction. Some cases had concomitant acute febrile neutrophilic dermatosis. Differentiation syndrome occurred as early as 2 days and up to 75 days after XOSPATA initiation and has been observed with or without concomitant leukocytosis. If differentiation syndrome is suspected, initiate dexamethasone 10 mg IV every 12 hours (or an equivalent dose of an alternative oral or IV corticosteroid) and hemodynamic monitoring until improvement. Taper corticosteroids after resolution of symptoms and administer corticosteroids for a minimum of 3 days. Symptoms of differentiation syndrome may recur with premature discontinuation of corticosteroid treatment. If severe signs and/or symptoms persist for more than 48 hours after initiation of corticosteroids, interrupt XOSPATA until signs and symptoms are no longer severe.

Posterior Reversible Encephalopathy Syndrome (PRES) 1% of 319 patients treated with XOSPATA in the clinical trials experienced posterior reversible encephalopathy syndrome (PRES) with symptoms including seizure and altered mental status. Symptoms have resolved after discontinuation of XOSPATA. A diagnosis of PRES requires confirmation by brain imaging, preferably magnetic resonance imaging (MRI). Discontinue XOSPATA in patients who develop PRES.

Prolonged QT Interval XOSPATA has been associated with prolonged cardiac ventricular repolarization (QT interval). 1% of the 317 patients with a post-baseline QTc measurement on treatment with XOSPATA in the clinical trial were found to have a QTc interval greater than 500 msec and 7% of patients had an increase from baseline QTc greater than 60 msec. Perform electrocardiogram (ECG) prior to initiation of treatment with XOSPATA, on days 8 and 15 of cycle 1, and prior to the start of the next two subsequent cycles. Interrupt and reduce XOSPATA dosage in patients who have a QTcF >500 msec. Hypokalemia or hypomagnesemia may increase the QT prolongation risk. Correct hypokalemia or hypomagnesemia prior to and during XOSPATA administration.

Pancreatitis 4% of 319 patients treated with XOSPATA in the clinical trials experienced pancreatitis. Evaluate patients who develop signs and symptoms of pancreatitis. Interrupt and reduce the dose of XOSPATA in patients who develop pancreatitis.

Embryo-Fetal Toxicity XOSPATA can cause embryo-fetal harm when administered to a pregnant woman. Advise females of reproductive potential to use effective contraception during treatment with XOSPATA and for at least 6 months after the last dose of XOSPATA. Advise males with female partners of reproductive potential to use effective contraception during treatment with XOSPATA and for at least 4 months after the last dose of XOSPATA. Pregnant women, patients becoming pregnant while receiving XOSPATA or male patients with pregnant female partners should be apprised of the potential risk to the fetus.

Adverse Reactions
Fatal adverse reactions occurred in 2% of patients receiving XOSPATA. These were cardiac arrest (1%) and one case each of differentiation syndrome and pancreatitis. The most frequent (≥5%) nonhematological serious adverse reactions reported in patients were fever (13%), dyspnea (9%), renal impairment (8%), transaminase increased (6%) and noninfectious diarrhea (5%).

7% discontinued XOSPATA treatment permanently due to an adverse reaction. The most common (>1%) adverse reactions leading to discontinuation were aspartate aminotransferase increased (2%) and alanine aminotransferase increased (2%).

The most frequent (≥5%) grade ≥3 nonhematological adverse reactions reported in patients were transaminase increased (21%), dyspnea (12%), hypotension (7%), mucositis (7%), myalgia/arthralgia (7%), and fatigue/malaise (6%).

Other clinically significant adverse reactions occurring in ≤10% of patients included: electrocardiogram QT prolonged (9%), hypersensitivity (8%), pancreatitis (5%), cardiac failure (4%), pericardial effusion (4%), acute febrile neutrophilic dermatosis (3%), differentiation syndrome (3%), pericarditis/myocarditis (2%), large intestine perforation (1%), and posterior reversible encephalopathy syndrome (1%).

Lab Abnormalities Shifts to grades 3-4 nonhematologic laboratory abnormalities in XOSPATA treated patients included phosphate decreased (14%), alanine aminotransferase increased (13%), sodium decreased (12%), aspartate aminotransferase increased (10%), calcium decreased (6%), creatine kinase increased (6%), triglycerides increased (6%), creatinine increased (3%), and alkaline phosphatase increased (2%).

Drug Interactions
Combined P-gp and Strong CYP3A Inducers Concomitant use of XOSPATA with a combined P-gp and strong CYP3A inducer decreases XOSPATA exposure which may decrease XOSPATA efficacy. Avoid concomitant use of XOSPATA with combined P-gp and strong CYP3A inducers.

Strong CYP3A inhibitors Concomitant use of XOSPATA with a strong CYP3A inhibitor increases XOSPATA exposure. Consider alternative therapies that are not strong CYP3A inhibitors. If the concomitant use of these inhibitors is considered essential for the care of the patient, monitor patient more frequently for XOSPATA adverse reactions. Interrupt and reduce XOSPATA dosage in patients with serious or life-threatening toxicity.

Drugs that Target 5HT2B Receptor or Sigma Nonspecific Receptor Concomitant use of XOSPATA may reduce the effects of drugs that target the 5HT2B receptor or the sigma nonspecific receptor (e.g., escitalopram, fluoxetine, sertraline). Avoid concomitant use of these drugs with XOSPATA unless their use is considered essential for the care of the patient.

Specific Populations
Lactation: Advise women not to breastfeed during treatment with XOSPATA and for 2 months after the last dose.

Aclaris Therapeutics to Participate in the Evercore ISI 3rd Annual HealthCONx Conference

On November 16, 2020 Aclaris Therapeutics, Inc. (NASDAQ: ACRS), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, reported that management will participate in a virtual fireside chat at the Evercore ISI 3rd Annual HealthCONx Conference on Wednesday, December 2, 2020 at 7:30 a.m. ET (Press release, Aclaris Therapeutics, NOV 16, 2020, View Source [SID1234571131]). Management will be available December 1st and 2nd throughout the day for virtual one-on-one meetings.

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A live audio webcast of the fireside chat may be accessed through the Events page under the Investors section of Aclaris’ website, www.aclaristx.com. An archived version of the webcast will be available for 30 days.

Provectus Biopharmaceuticals Announces Presentation of PV-10® Pancreatic Cancer Data at 2020 Society for Immunotherapy of Cancer (SITC) Annual Meeting

On November 16, 2020 Provectus (OTCQB: PVCT) reported that H. Lee Moffitt Cancer Center (Moffitt) presented non-clinical data from ongoing research on investigational autolytic cancer immunotherapy PV-10, an injectable formulation of Provectus’ proprietary small molecule rose bengal disodium (RBD), as a single-agent and in combination with gemcitabine chemotherapy for the treatment of pancreatic cancer at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper)’s (SITC) (Free SITC Whitepaper) 35th Anniversary Annual Meeting & Pre-Conference Programs (SITC 2020), held online from November 9-14, 2020 (Press release, Provectus Biopharmaceuticals, NOV 16, 2020, View Source [SID1234571154]).

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RBD selectively accumulates in the lysosomes of cancer cells upon contact, disrupts these lysosomes, and causes the cancer cells to die. Intralesional (IL) (aka intratumoral) administration of PV-10 causes acute destruction of injected tumors, resulting in the release of danger-associated molecular pattern molecules (DAMPs) and tumor antigens. These signaling factors may initiate an immunologic cascade, where the innate immune system response may facilitate systemic anti-tumor immunity by the adaptive immune system. PV-10-mediated DAMP release may activate CD8+ T cells, CD4+ T cells, and NKT cells.

Moffitt’s poster presentation, authored by Innamarato et al. and entitled "Intralesional injection of rose bengal augments the efficacy of gemcitabine chemotherapy against pancreatic tumors," concluded:

PV-10 kills human and murine pancreatic tumor cells in vitro,
The combination therapy of PV-10 and gemcitabine reduces the growth rate of murine Panc02 tumors in vivo,
Immunogenic Panc02OVA tumors are more sensitive in vivo to single-agent PV-10,
The combination therapy reduces the growth of non-injected bystander Panc02OVA tumors in vivo, and
Reduced tumor growth after PV-10 treatment is associated with the release of DAMPs.
PV-10-mediated DAMP-release has been demonstrated in three different cancers, varying from immunologically "cold" to "hot" tumor types:

Pancreatic cancer: Innamarato et al., SITC (Free SITC Whitepaper) 2020 (Moffitt; non-clinical)
Colon cancer: Qin et al., Cell Death and Disease 2017 (University of Illinois at Chicago; non-clinical), and
Melanoma: Liu et al., Oncotarget 2016 (Moffitt; clinical and non-clinical).
Dominic Rodrigues, Vice Chair of the Company’s Board of Directors said, "We are grateful to the leadership and researchers of the Pilon-Thomas Lab at Moffitt Cancer Center for their translational investigation of cancer immunotherapy PV-10 in melanoma, breast cancer, and now pancreatic cancer. The non-clinical results presented at this year’s annual meeting of the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) demonstrate that intralesional administration of PV-10 can enhance the efficacy of gemcitabine chemotherapy against pancreatic tumors."

Mr. Rodrigues added, "A key aspect of our drug development strategy for intralesional administration of PV-10 in solid tumor cancers is targeting disease indications where there is high unmet need among patients, limited activity from approved therapies, and the opportunity to display the contribution of PV-10’s functional immune response to successful patient treatment outcomes. Pancreatic cancer is a deadly disease for which PV-10 could enhance standard of care chemotherapy."

A copy of the poster presentation is available on Provectus’ website at View Source

About Rose Bengal Disodium

RBD is 4,5,6,7-tetrachloro-2′,4′,5′,7′-tetraiodofluorescein disodium, a halogenated xanthene and Provectus’ proprietary lead molecule. The Company manufactures cGMP RBD using a patented process designed to meet stringent modern global quality requirements for pharmaceuticals and pharmaceutical ingredients.

An IL formulation (i.e., by direct injection) of cGMP RBD drug substance, cGMP PV-10, is being developed as an autolytic immunotherapy drug product for solid tumor cancers. By targeting tumor cell lysosomes, RBD treatment may yield immunogenic cell death in solid tumor cancers that results in tumor-specific reactivity in circulating T cells, including a T cell mediated immune response against treatment refractory and immunologically cold tumors.1,2,3 Adaptive immunity can be enhanced by combining immune checkpoint blockade (CB) with RBD.4 IL PV-10 is undergoing clinical study for relapsed and refractory adult solid tumor cancers, such skin and liver cancers.

IL PV-10 is also undergoing preclinical study for relapsed and refractory pediatric solid tumor cancers, such as neuroblastoma, Ewing sarcoma, rhabdomyosarcoma, and osteosarcoma.5,6

A topical formulation of cGMP RBD drug substance, PH-10, is being developed as a clinical-stage immuno-dermatology drug product for inflammatory dermatoses, such as atopic dermatitis and psoriasis. RBD can modulate multiple interleukin and interferon pathways and key cytokine disease drivers.7

Oral formulations of cGMP RBD are undergoing preclinical study for relapsed and refractory pediatric blood cancers, such as acute lymphocytic leukemia and acute myelomonocytic leukemia.8,9

Oral formulations of cGMP RBD are also undergoing preclinical study as prophylactic and therapeutic treatments for high-risk adult solid tumor cancers, such as head and neck, breast, pancreatic, liver, and colorectal cancers.

Different formulations of cGMP RBD are also undergoing preclinical study as potential treatments for multi-drug resistant (MDR) bacteria, such as Gram-negative bacteria.

Tumor Cell Lysosomes as the Seminal Cancer Drug Target

Lysosomes are the central organelles for intracellular degradation of biological materials, and nearly all types of eukaryotic cells have them. Discovered by Christian de Duve, MD in 1955, lysosomes are linked to several biological processes, including cell death and immune response. In 1959, de Duve described them as ‘suicide bags’ because their rupture causes cell death and tissue autolysis. He was awarded the Nobel Prize in 1974 for discovering and characterizing lysosomes, which are also linked to each of the three primary cell death pathways: apoptosis, autophagy, and necrosis.

Building on the Discovery, Exploration, and Characterization of Lysosomes

Cancer cells, particularly advanced cancer cells, are very dependent on effective lysosomal functioning.10 Cancer progression and metastasis are associated with lysosomal compartment changes11,12, which are closely correlated (among other things) with invasive growth, angiogenesis, and drug resistance13.

RBD selectively accumulates in the lysosomes of cancer cells upon contact, disrupting the lysosomes and causing the cells to die. Provectus1,14, external collaborators5, and other researchers15,16,17 have independently shown that RBD triggers each of the three primary cell death pathways: apoptosis, autophagy, and necrosis.

Cancer Cell Autolytic Death via RBD: RBD-induced autolytic cell death, or death by self-digestion, in Hepa1-6 murine hepatocellular carcinoma (HCC) cells can be viewed in this Provectus video of the process (ethidium homodimer 1 [ED-1] stains DNA, but is excluded from intact nuclei; lysosensor green [LSG] stains intact lysosomes; the video is provided in 30-second frames, with a duration of approximately one hour). Exposure to RBD triggers the disruption of lysosomes, followed by nucleus failure and autolytic cell death. Identical responses have been shown by the Company in HTB-133 human breast carcinoma (which can be viewed in this Provectus video of the process, with a duration of approximately two hours) and H69Ar human multidrug-resistant small cell lung carcinoma. Cancer cell autolytic cell death was reproduced by research collaborators in neuroblastoma cells to show that lysosomes are disrupted upon exposure to RBD.5

Tumor Autolytic Death via RBD: RBD causes acute autolytic destruction of injected tumors (via autolytic cell death), mediating the release of DAMPs and tumor antigens; release of these signaling factors may initiate an immunologic cascade where local response by the innate immune system may facilitate systemic anti-tumor immunity by the adaptive immune system. The DAMP release-mediated adaptive immune response activates lymphocytes, including CD8+ T cells, CD4+ T cells, and NKT cells, based on clinical and preclinical experience in multiple tumor types. Mediated immune signaling pathways may include an effect on STING, which plays an important role in innate immunity.9

Orphan Drug Designations (ODDs)

ODD status has been granted to RBD by the U.S. Food and Drug Administration for metastatic melanoma in 2006, hepatocellular carcinoma in 2011, neuroblastoma in 2018, and ocular melanoma (including uveal melanoma) in 2019.

Intellectual Property (IP)

Provectus’ IP includes a family of US and international (a number of countries in Asia, Europe, and North America) patents that protect the process by which cGMP RBD and related halogenated xanthenes are produced, avoiding the formation of previously unknown impurities that exist in commercial-grade rose bengal in uncontrolled amounts. The requirement to control these impurities is in accordance with International Council on Harmonisation (ICH) guidelines for the manufacturing of an injectable pharmaceutical. US patent numbers are 8,530,675, 9,273,022, and 9,422,260, with expirations ranging from 2030 to 2031.

The Company’s IP also includes a family of US and international (a number of countries in Asia, Europe, and North America) patents that protect the combination of RBD and CB (e.g., anti-CTLA-4, anti-PD-1, and anti-PD-L1 agents) for the treatment of a range of solid tumor cancers. US patent numbers are 9,107,887, 9,808,524, 9,839,688, and 10,471,144, with expirations ranging from 2032 to 2035; US patent application numbers include 20200138942.

About Provectus

Provectus Biopharmaceuticals, Inc. (Provectus or the Company) is a clinical-stage biotechnology company developing immunotherapy medicines for different disease areas based on an entirely- and wholly-owned family of small molecules called halogenated xanthenes. Information about the Company’s clinical trials can be found at the National Institutes of Health (NIH) registry, www.clinicaltrials.gov. For additional information about Provectus, please visit the Company’s website at www.provectusbio.com.

References

1. Wachter et al. Functional Imaging of Photosensitizers using Multiphoton Microscopy. Proceedings of SPIE 4620, 143, 2002.

2. Liu et al. Intralesional rose bengal in melanoma elicits tumor immunity via activation of dendritic cells by the release of high mobility group box 1. Oncotarget 7, 37893, 2016.

3. Qin et al. Colon cancer cell treatment with rose bengal generates a protective immune response via immunogenic cell death. Cell Death and Disease 8, e2584, 2017.

4. Liu et al. T cell mediated immunity after combination therapy with intralesional PV-10 and blockade of the PD-1/PD-L1 pathway in a murine melanoma model. PLoS One 13, e0196033, 2018.

5. Swift et al. Potent in vitro and xenograft antitumor activity of a novel agent, PV-10, against relapsed and refractory neuroblastoma. OncoTargets and Therapy 12, 1293, 2019.

6. Swift et al. In vitro and xenograft anti-tumor activity, target modulation and drug synergy studies of PV-10 against refractory pediatric solid tumors. 2018 ASCO (Free ASCO Whitepaper) Annual Meeting, J Clin Oncol 36, 2018 (suppl; abstr 10557).

7. Krueger et al. Immune Modulation by Topical PH-10 Aqueous Hydrogel (Rose Bengal Disodium) in Psoriasis Lesions. Psoriasis Gene to Clinic, 8th International Congress, Br J Dermatol 177.

8. Swift et al. In Vitro Activity and Target Modulation of PV-10 Against Relapsed and Refractory Pediatric Leukemia. 2018 ASH (Free ASH Whitepaper) Annual Meeting, Blood 132, 2018 (suppl; abstr 5207).

9. Thakur et al. Association of heat shock proteins as chaperone for STING: A potential link in a key immune activation mechanism revealed by the novel anti-cancer agent PV-10. 2020 AACR (Free AACR Whitepaper) VAM II, (abstr 5393).

10. Piao et al. Targeting the lysosome in cancer. Annals of the New York Academy of Sciences. 2016; 1371(1): 45.

11. Nishimura et al. Malignant Transformation Alters Intracellular Trafficking of Lysosomal Cathespin D in Human Breast Epithelial Cells. Pathology Oncology Research. 1998; 4(4): 283.

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Proteostasis Therapeutics Reports Third Quarter 2020 Financial Results

On November 16, 2020 Proteostasis Therapeutics, Inc. (Nasdaq:PTI), a clinical stage biopharmaceutical company, reported financial results for the third quarter ended September 30, 2020 (Press release, Proteostasis Therapeutics, NOV 16, 2020, View Source [SID1234571176]).

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In August 2020, Proteostasis and Yumanity Therapeutics, Inc. ("Yumanity"), announced the two companies had entered into a definitive merger agreement. If the merger is completed, Yumanity will become a wholly-owned subsidiary of Proteostasis, and the current stockholders of Yumanity will become the majority owners of Proteostasis’ outstanding common stock. Completion of the merger is subject to the satisfaction of certain closing conditions, including approval of the transaction by Proteostasis’ and Yumanity’s stockholders. Upon the satisfaction or waiver of the terms and conditions required under the merger agreement, including receiving the requisite stockholder approvals, the combined company is expected to operate under the name Yumanity Therapeutics, Inc. and trade on the Nasdaq Capital Market under the ticker symbol "YMTX". The transaction is expected to close in the fourth quarter of 2020, subject to approvals by stockholders of each company and other customary closing conditions.

Third Quarter 2020 Financial Results

Proteostasis reported a net loss of approximately $8.2 million for the three months ended September 30, 2020, as compared to a net loss of $12.8 million for the same period in the prior year.

Proteostasis recorded no revenue in the three months ended September 30, 2020 and 2019.

Research and development expenses for the three months ended September 30, 2020 were $1.2 million, as compared to $10.1 million for the same period in the prior year. The decrease in research and development expenses for the three months ended September 30, 2020 compared to the three months ended September 30, 2019 was primarily due to a decrease in clinical-related research activities.

General and administrative expenses for the three months ended September 30, 2020 were $4.5 million, as compared to $3.2 million for the same period in the prior year. The increase in general and administrative expenses for three months ended September 30, 2020 compared to September 30, 2019 was due primarily to an increase in professional fees in connection with the proposed merger with Yumanity Therapeutics.

Restructuring costs were $2.4 million for the three months ended September 30, 2020, consisting primarily of severance-related costs associated with a reduction in force undertaken in connection with the proposed merger with Yumanity Therapeutics. There were no restructuring costs for the three months ended September 30, 2019.

Cash, cash equivalents and short-term investments totaled $40.8 million as of September 30, 2020, compared to $69.5 million as of December 31, 2019. Proteostasis believes that its existing cash, cash equivalents and short-term investments are sufficient to fund its operations for at least 12 months from the date that its consolidated financial statements are issued and through the completion of the proposed merger with Yumanity Therapeutics.