On October 12, 2020 Aurum Biosciences Ltd (Aurum) reported that it has raised approximately £670k as part of a new round of equity funding (Press release, Aurum Biosciences, OCT 12, 2020, View Source [SID1234568303]). This funding round was supported by Infinion Biopharma Limited (Infinion), the Scottish Investment Bank, Scottish Health Innovations Ltd (SHIL), TRICAPITAL business angel syndicate and individual investors.

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Aurum is a Scottish based clinical stage biopharmaceutical company developing novel oxygen carriers and software for use with MRI. Aurum works closely with the University of Glasgow and NHS Greater Glasgow and Clyde to develop products which it hopes will bring significant lifesaving benefits in the areas of stroke, cardiology, oncology and neuro-degenerative diseases.

These funds which will further extend the work already funded by the Wellcome Trust will be dedicated to the company’s core strategy of developing novel therapies and diagnostics in stroke, using its lead product ABL-101. Aurum aim to deliver a phase 2 clinical trial in stroke patients in Glasgow’s Queen Elizabeth University Hospital.

Jim McGuire, Aurum’s CEO said, "We are delighted to complete this second round with our initial investment partners and bringing in a new investment partner, Infinion. This funding will allow us to extend our work beyond the successfully completed pre-clinical trials where Aurum’s lead product has demonstrated great potential in both stroke treatment and diagnosis. We are especially pleased that Infinion have joined the investment and look forward to them helping to drive Aurum forward with their global expertise in the biopharma sector. There has been few new therapies or diagnostics approved for acute ischaemic stroke in recent years. Our products provide hope for the many patients, carers and healthcare professionals who live with the consequences of this devastating condition."

Commenting on the investment Graham Watson, Executive Chair of SHIL said: "SHIL has been working with Aurum Biosciences for over five years following the successful spin-out from NHS Greater Glasgow and Clyde and University of Glasgow. Significant progress has been made in advancing the diagnosis and treatment of stroke with promising results evident in pre-clinical trials. This is vital work; in Scotland alone stroke remains the third biggest killer and the leading cause of disability. This new investment from SHIL and other investors, combined with ambitious development plans, will support the team to extend their work in stroke, and other conditions; with the ultimate aim of saving and improving lives."

Commenting on the investment Govind Chavada, Managing Director of Infinion said: "Worldwide, cerebrovascular accidents (stroke) are the second leading cause of death and the third leading cause of disability. Infinion remains committed to bring novel therapies to the market and to that end the symbiosis of Infinion and Aurum is the step in the right direction. Aurum’s lead candidate ABL 101 has great potential to change the therapeutic landscape of ischaemic stroke and other disorders where hypoxic tissue damage is the primary driver of disease pathology"

Commenting on the investment Jamie Andrew, Chair of Tricapital said: "Stroke remains the third biggest killer in Scotland and the leading cause of disability and is the second leading cause of death worldwide. TRICAPITAL are delighted to provide this further support that will enable Aurum to continue to develop important new treatments and diagnostics in this vital area of healthcare."

On October 12, 2020 Evotec SE (FSE:EVT)(OTC PINK:EVTCY)(MDAX/TecDAX, ISIN: DE0005664809, WKN 566480) reported that it resolved on a capital increase from its authorised capital without pre-emptive rights against cash (Press release, Evotec, OCT 12, 2020, View Source;announcements/ad-hoc-releases/p/mubadala-investment-company-and-novo-holdings-as-invest-eur-250-million-in-evotec-se-5980 [SID1234568334]). Evotec will issue a total of 11,478,315 new shares to Mubadala Investment Company and Novo Holdings A/S.

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In this private capital increase, Mubadala Investment Company will invest € 200 million to subscribe 9,182,652 Evotec shares at a share price of € 21.7802 per share representing approx. 5.6% of outstanding shares. Evotec gains with Mubadala Investment Company a new long-term strategic oriented shareholder with extensive experience and expertise in the biotech industry. Evotec’s existing long-term shareholder Novo Holdings A/S will invest € 50 million to subscribe 2,295,663 shares of Evotec at a same share price to reinforce its ownership at approx. 11.0%, to secure financial flexibility for the Company.

The placement was made at 2.5% discount to the five-day volume weighted average price ("VWAP") of € 22.3387 prior to the Xetra closing auction on 12th October 2020. After the registration of the capital increase in the commercial register, the share capital of the Company will increase to € 163,375,808 or 163,375,808 ordinary bearer shares.

While maintaining the business outlook 2020 unchanged, Evotec will be using the proceeds from the capital increase to pursue its unique strategy to become the global leading platform company for the modality-agnostic development of innovative first-in-class and best-in-class therapeutic approaches resulting in a very large co-owned pipeline.

On October 12, 2020 Rhizen Pharmaceuticals S. A. (Rhizen), a Switzerland-based privately held clinical-stage biopharmaceutical company, and Curon Biopharmaceutical Limited (Curon), a clinical-stage innovative biopharmaceutical company with facility in Shanghai reported that they have entered into an exclusive licensing agreement for the development and commercialization of Tenalisib, a dual PI3K delta & gamma inhibitor in the Greater China region (Press release, Rhizen Pharmaceuticals, OCT 12, 2020, View Source [SID1234568376]).

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Under the terms of the agreement, Rhizen will receive an undisclosed upfront cash payment and is eligible to receive additional development and commercial milestone payments with an overall deal value of USD 149.5 million plus double-digit royalties on annual net sales of Tenalisib.

Curon obtains the exclusive development and commercialization rights of Tenalisib for Greater China across all oncology indications, and will lead the clinical development in that territory by leveraging its unique expertise in translational research, clinical development and regulatory registration and its extensive research collaboration experience, to accelerate the development of and regulatory approval of this product in Greater China.

Swaroop Vakkalanka, Ph.D., President and Chief Executive Officer of Rhizen Pharmaceuticals stated, "Emerging human clinical data demonstrates that Tenalisib is a differentiated, next-generation, orally active, dual PI3K delta and gamma inhibitor with an excellent safety profile and promising single-agent activity in haeme malignancies. We believe, Tenalisib’s outstanding safety could allow rational combinations with other approved/investigational agents and enable us to unlock the true potential of this class of drugs. Our partnering with Curon is a first step towards achieving this objective and we look forward to the day this novel drug reaches cancer patients in need of new and safe therapies."

"Tenalisib has demonstrated great efficacy in lymphoma patients with outstanding safety profile, in-licensing this product to China would bring more effective and additional treatment options to Chinese cancer patients and greatly benefit these patients. Meanwhile, this will further enrich our diversified pipeline. We are very happy and look forward to closely collaborating with Rhizen to efficiently develop this molecule into an effective medicine to benefit patients not only in China but also around the world as soon as possible." said Zhihong Chen, Ph.D., President of Curon.

Kun Tao from Yafo Capital acted as financial advisor on this transaction for Rhizen.

About Tenalisib (RP6530):

Tenalisib (RP6530) is a highly selective, next-generation, orally active, dual PI3K delta and gamma inhibitor, that is currently in Phase 2 clinical development for hematological malignancies. Tenalisib has been granted US FDA Fast Track & Orphan-Drug Designations for treatment of relapsed/refractory peripheral T-cell lymphoma and cutaneous T-cell lymphoma (R/R PTCL and R/R CTCL).

On October 12, 2020 4SC AG (4SC, FSE Prime Standard: VSC) reported the availability of a new publication on domatinostat in the Journal of Investigative Dermatology entitled "The HDAC Inhibitor Domatinostat Promotes Cell Cycle Arrest, Induces Apoptosis and Increases Immunogenicity of Merkel Cell Carcinoma Cells" (Press release, 4SC, OCT 12, 2020, View Source [SID1234568338]). The article was published by the Research Group of Professor J. C. Becker, Department of Translational Skin Cancer Research, Essen, Germany and is freely accessible via View Source(20)32074-1/fulltext or via the 4SC homepage.

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The article presents preclinical data demonstrating domatinostat´s efficacy and mode of action in Merkel Cell Carcinoma (MCC). The data shows that domatinostat not only exerts direct anti-tumoral effects, but also restores HLA class I surface expression on MCC cells – and as a result, restores surviving MCC cells’ susceptibility to recognition and elimination by cytotoxic T cells.

Frank Hermann, MD, Chief Development Officer at 4SC commented: "The preclinical results published in this article strongly support our clinical development strategy to combine domatinostat with avelumab in patients with advanced MCC – to effectively address critical escape mechanisms in this deadly cancer and synergize with immune checkpoint blockade. We acknowledge the scientific value and relevance of the work of Professor Becker and his research team, and look forward to seeing clinical data from our MERKLIN 2 and MERKLIN 1 studies."

On October 12, 2020 ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, reported that it has raised gross proceeds of approximately $54.8 million through its At-the-Market ("ATM") facility pursuant to its Open Market Sale AgreementSM dated as of September 25, 2020 with Jefferies LLC, as sales agent (the "Sale Agreement"), with participation based on interest received from multiple institutional investors (Press release, ImmunoGen, OCT 12, 2020, View Source [SID1234568340]). On October 9, 2020, the Company sold approximately 12.7 million shares of the Company’s common stock at a per share purchase price of $4.33, the market price at the time of sale.

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The additional funds raised through the ATM strengthen the Company’s balance sheet and will be used to fund the Company’s operations, including, but not limited to, clinical trial activities, supply of drug substance and drug product, pre-commercialization and commercialization activities, capital expenditures, and working capital.

The shares of common stock described above were sold pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-223507), previously filed with the Securities and Exchange Commission ("SEC") on March 7, 2018, which became effective upon filing, and a prospectus supplement dated September 25, 2020 and the accompanying prospectus the Company filed with the SEC in connection with the offer and sale of the Company’s common stock pursuant to the Sale Agreement. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by e-mail at [email protected] or by telephone at (877) 821-7388. Electronic copies of the prospectus supplement and the accompanying prospectus are also available on the SEC’s website at View Source