On November 24, 2020 Biopharmaceutical company Alvotech hf. and Alvotech & CCHT Biopharmaceutical Co., Ltd., which is the China joint venture company of Alvotech hf. and Changchun High & New Technology Industries (Group) Inc., reported that have partnered with Yangtze River Pharmaceutical Group, a leading Chinese pharmaceutical company, to form an exclusive strategic partnership for the commercialization of eight biosimilar medicines in China (Press release, Alvotech, NOV 24, 2020, View Source [SID1234571699]). The initial pipeline contains biosimilar candidates for treatment in the fields of autoimmunity, ophthalmology, and oncology, as well for treating severe immune and inflammatory conditions.

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Robert Wessman, founder and chairman of Alvotech, commented, "As our progression continues, we are excited to announce this new partnership with Yangtze River Pharmaceutical Group, one of the largest pharmaceutical companies in China. Through this commercial relationship, Alvotech and Alvotech & CCHT Biopharmaceutical Co., Ltd are gaining an extremely valuable access to Yangtze River Pharmaceutical’s strong brand reputation and market experience in China. This will give patients in China better access to high quality biosimilar medicines and creates a powerhouse in the introduction and adoption of biosimilars in the region."

Under this distribution and marketing agreement, Alvotech and Alvotech & CCHT Biopharmaceutical Co., Ltd will be jointly responsible for the development, registration, and supply of their biosimilars in China, while Yangtze River Pharmaceutical will exclusively commercialize the biosimilar candidates. China is the world’s second largest pharmaceutical market, and this new collaboration follows Alvotech’s recent global partnerships including: Teva Pharmaceuticals in the U.S. market, Stada for key European markets and several others.

Mr. Xu, Jingren, founder and Chairman of Yangtze River Pharmaceutical Group, said, "The commercial partnership with Alvotech and Alvotech & CCHT Biopharmaceutical Co., Ltd. is an attempt on international collaboration of biosimilar medicines. Develop, Manufacture and introduce high quality biosimilars is also Yangtze River’s vision. We aim to make full use of our brand advantage and market experience to deliver the biosimilars with extensive clinical needs to the broad China market. This will help us fulfil our purpose of ‘Committed for the better and Dedicated to caring for all.’"

Alvotech and Alvotech & CCHT Biopharmaceutical Co., Ltd.’s leading innovative capability and technology allow us to have confidence to provide Chinese patients with safe, effective and affordable biosimilar medicines which improves the lives of patients. We sincerely hope that this partnership will be constructive, complementary and have positive outcomes for all involved," Mr. Xu Jingren concluded.

The manufacturing of these biosimilar candidates for the Chinese market will be made in a new state-of-the-art biopharmaceutical facility, currently being built in Changchun, China, through the Alvotech & CCHT Biopharmaceutical Co., Ltd partnership1. The manufacturing site will include the latest best in class technology, including disposable single use bioreactors. The first Phase of the facility is expected to be completed in 2021.

Mr. Ma, Ji, chairman of CCHT, and chairman of Alvotech & CCHT Biopharmaceutical Co., Ltd, added, "Innovation and sharing are the core value of CCHT, establishing Changchun Alvotech & CCHT Biopharmaceutical Co., Ltd with Alvotech is aiming to build a global standard antibody drug producing and manufacturing platform. The cooperation with Yangtze River Pharmaceutical Group, a leading company in the industry, is strategic, constructive, and complementary; both parties could give full play to their advantages in exploring China’s biosimilar drug market, so as to improve the availability and accessibility of the drugs and ameliorate people’s life. We will further discuss cooperation with YZR on more levels in the future."

1 Footnote: Alvotech & CCHT Biopharmaceutical Co., Ltd is a Chinese limited liability Sino-foreign equity joint venture company owned jointly by Alvotech hf and Changchun High & New Technology Industries (Group) Inc.

On November 24, 2020 vTv Therapeutics Inc. (Nasdaq: VTVT) reported it has entered into a common stock purchase agreement ("Purchase Agreement") for up to $47 million with Lincoln Park Capital Fund, LLC ("LPC"), a Chicago-based institutional investor (Press release, vTv Therapeutics, NOV 24, 2020, View Source [SID1234571746]).

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"The LPC financing will help us reach a number of potential value-driving events over the next six to nine months, including the upcoming topline results of our phase 2 Elevage Study in patients with Alzheimer’s disease and type 2 diabetes in December," said Steve Holcombe, President and CEO of vTv Therapeutics. "In addition, these funds will help us conduct a mechanistic study of TTP399, our oral treatment for patients with type 1 diabetes focused on its impact on diabetic ketoacidosis, and additionally a multiple-ascending dose study of HPP737 as a potential oral treatment for psoriasis."

vTv will have the option, but not the obligation, to sell to LPC up to $47.0 million in shares of Class A common stock over a thirty-six-month period subject to certain conditions, including a registration statement being filed and declared effective by the SEC. There are no upper limits to the price LPC may pay to purchase Class A common stock from vTv and the purchase price of the shares will be based on the prevailing market prices of vTv’s shares at the time of each sale to LPC.

LPC has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of vTv’s shares of Class A common stock. No warrants, derivatives, or other share classes are associated with this agreement. In consideration for entering into the agreement, vTv has issued shares of Class A common stock to LPC as a commitment fee. The Purchase Agreement may be terminated by vTv at any time, at its sole discretion, without any additional cost or penalty.

vTv intends to use the net proceeds from the transaction for general corporate purposes and to support its clinical development strategy, including finalizing and reporting topline results from the Company’s ongoing Elevage Study of azeliragon for the treatment of Alzheimer’s disease in patients with type 2 diabetes in December 2020, conducting a mechanistic study of TTP399 in patients with type 1 diabetes, and conducting a multiple-ascending dose study of HPP737 as part of a development program of the product as an oral therapy for psoriasis.

A more detailed description of the agreement is set forth in vTv’s Current Report on Form 8-K to be filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.

On November 24, 2020 Laminar Pharma reported that closer and closer to our stock market launch (Press release, Laminar Pharma, NOV 24, 2020, View Source [SID1234574077]). That’s why we launched a funding round this month to increase investment in research staff and advance the development of clinical trials.

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This operation raised more than 1.2 million euros

The financing round was launched on October 30 with the aim of raising 1.2 million euros and is currently available on the Fellow Funders Crowd Investment platform. In the first two weeks, thanks to the trust of numerous investors, more than one million euros had been raised, which is equivalent to 92% of the target set and now, before the month ends the target will be met. In addition to this main source of financing, which is private investment, we have received support from the Spanish government, Spain’s regional governments and the European Commission.

Pablo Escribá, our CEO, has a positive outlook: "We are happy about exceeding the planned target, as we did in the round at the end of last year. Currently at Laminar Pharma we hold patents for 8% of all drugs under development by Spanish biotechnology companies in our country, according to the pipeline of the Spanish Association of Bio-companies (ASEBIO) and we hope to grow in valuation as we advance in the clinical research stages of our drugs undergoing development. The company plans to request marketing authorization from regulatory agencies in two years, with the aim of announcing our first market launch in 2023."

Fellow Funders partner Mariano Colmenar is satisfied with the operation, which is run by his own collective financing platform, authorized and supervised by the National Securities Market Commission (CNMV) since 2016. "We have shown that investors see a promising future in the biotechnology sector, anticipating good benefits. The pharmaceutical market is a long-term market, since years of research and clinical trials are necessary before the products can safely be launched to market." Fellow Funders collaborates with Nowture, the first comprehensive ecosystem that catalyzes and drives the growth of the Biotechnology and Life Sciences sector in Spain, offering a model of specialized and customized services, with national and European science and business experts. Nowture company, was born at the end of 2020 as the first comprehensive investment and promotion ecosystem for companies in the Biotechnology and life sciences sector in Spain. Nowture has been present in Laminar Pharma’s capital since 2019, to accompany it in the optimization and execution of the product development plan, in the corporate financing strategy and in its preparation to apply to join BME Growth.

On November 24, 2020 Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, reported that it will report financial results for the second quarter of fiscal year 2021 on December 2, 2020 after market close and will host a conference call and webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time) (Press release, Avid Bioservices, NOV 24, 2020, View Source [SID1234571657]). Members of Avid’s senior management will discuss financial results for the second quarter and review recent corporate developments.

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To listen to the live webcast, or access the archived webcast, please visit: View Source

To listen to the conference call, please dial (877) 312-5443 or (253) 237-1126 and request the Avid Bioservices call.

On November 24, 2020 Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) ("Rocket"), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare childhood disorders, reported participation at the following upcoming conferences (Press release, Rocket Pharmaceuticals, NOV 24, 2020, View Source [SID1234571678]):

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Piper Sandler 32nd Annual Virtual Healthcare Conference
Tuesday, December 1, 2020
Evercore ISI 3rd Annual HealthCONx Conference
Gaurav Shah, M.D., President and CEO, is scheduled to participate in a fireside chat on Wednesday, December 2, 2020, at 3:30 p.m. Eastern Time.
A live audio webcast of the presentation will be available on the Investors section of the company’s website, www.rocketpharma.com. A replay of the presentation will be archived on the Rocket website following the conferences.