Kanaph Therapeutics Closes 21M USD Series B Funding

On October 12, 2020 Kanaph Therapeutics, a leading biotech in oncology, auto-immune, and eye diseases with large molecules and small molecules, reported that recently completed their Series B funding of 21M USD in South Korea (Press release, Kanaph Therapeutics, OCT 12, 2020, View Source [SID1234568361]). In this round, a large Korean pharma company, GC Pharma, and venture capital funds such as Kolon Investment, Timefolio Asset Management and more participated in the fund raising. In addition to the 2M USD angel funding and 6M USD Series A funding, Kanaph has raised a total of 30M USD to date.

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Kanaph’s front runners are bi-specifics from their TMEkineTM platform for immuno-oncology, and a bi-specific Fc-fusion inhibiting both alternative complement and angiogenesis pathways for the treatment of retinal disorders. Their small molecule pipelines include the development of novel small molecules targeting specific mutational signaling pathways or removing immune-suppressive environment created by tumors. Kanaph focuses on three small molecule programs in this regard: a 4th generation EGFR inhibitor targeting C797S, a dual EP2/4 inhibitor and an undisclosed target in the KRAS pathway, where the first two are entering the preclinical stage in early 2021.

‘TMEkineTM’, an antibody platform, is built on technologies licensed in from top US universities and is integrated into an antibody-cytokine bispecific platform that can overcome the largest unmet needs of existing immuno-oncology therapies or treat non-responsive patient groups. TMEkineTM molecules are in line with the recent trend in the field of immuno-oncology, which has been the conversion of tumors that do not respond to immunotherapies, also known as cold tumors, into hot tumors. The platform can also be expanded into a wide range different indications.

The management team at Kanaph have extensive research and drug development experience in companies such as Genentech and Amgen. The CEO of Kanaph, Byoung Chul Lee has a strong track record in antibody drug discovery and development stemming from his experience in Genentech, 23andMe and Santen.

This round of funding will go towards expediting the clinical development of Kanaph’s pipelines. Candidates eligible are TMEkineTM molecules for immuno-oncology and bi-specific Fc fusions for the treatment of retinal diseases. A CDO agreement was recently signed with Samsung Biologics for the development of KNP-301 (retinal disease therapy) for the clinic.

The funds will provide a basis for completing preclinical studies for a number of pipelines at the end of this year or the beginning of next year and they will be licensed out once their preclinical packages are ready for the next steps.

Dual checkpoint blockade promising as pre-surgical approach for certain patients with localized bladder cancer

On October 12, 2020 The University of Texas MD Anderson Cancer Center reported that Neoadjuvant, or pre-surgical, combination treatment with the immune checkpoint inhibitors tremelimumab (anti-CTLA-4) and durvalumab (anti-PD-1) was well-tolerated and showed early signs of activity in certain patients with localized bladder cancer who do not have standard treatment options available, according to a Phase I clinical trial (Press release, MD Anderson, OCT 12, 2020, View Source [SID1234568333]).

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This represents the first neoadjuvant trial of combination immunotherapy for bladder cancer patients ineligible to receive cisplatin-based chemotherapy, all of whom had tumors with high-risk features that are associated with unfavorable outcomes. The study results, published today in Nature Medicine, also shed important insight into biomarkers associated with treatment responses.

Of the 28 patients enrolled in the trial, 24 completed bladder removal surgery on the study with nine (37.5%) achieving a pathologic complete response (pCR), meaning there were no signs of cancer evident at the time of surgery. Additionally, in 12 patients with particularly large tumors (stage T3-T4), the pCR rate was 42%, and half saw their tumor size reduced to stage T1 or less.

"This study provides early evidence that neoadjuvant treatment with combination checkpoint inhibitors is feasible in a group of patients who are in need of additional treatment options," said lead author Jianjun Gao, M.D., Ph.D., associate professor of Genitourinary Medical Oncology. "In this small group of patients, the combination treatment had an acceptable safety profile with encouraging activity that supports further clinical studies in this setting."

Advancing new immunotherapy options for patients in need

For patients with localized bladder cancer, standard therapy includes cisplatin-based chemotherapy followed by surgery. However, up to half of patients are ineligible for cisplatin treatment because of conditions such as poor kidney function, heart failure or neuropathies, leaving them without standard therapy options, explained Gao.

Previous clinical trials have evaluated neoadjuvant immune checkpoint blockade in bladder cancer, but these studies included only single agents and did not focus on those with high-risk tumors.

High-risk tumors are marked by certain features, including large size, variant histology, lymphovascular invasion, hydronephrosis, and/or disease located in the upper tract of the urothelium. Patients with these tumors tend to have poor survival compared to the average patient with localized disease.

"Immune checkpoint therapy has clearly revolutionized cancer care with patients with metastatic disease in multiple tumor types, but we continue to work toward moving these therapies into earlier disease settings for patients in need," said corresponding author Padmanee Sharma, M.D., Ph.D., professor of Genitourinary Medical Oncology and Immunology. "By combining these therapies, we felt we could take advantage of the distinct biologic mechanisms and stimulate a more robust anti-tumor immune response for these patients."

The current trial builds on longstanding efforts by Sharma at MD Anderson to advance checkpoint inhibitors for treating patients with localized disease. In 2008, Sharma and colleagues published results from the first-ever trial of neoadjuvant checkpoint blockade (ipilimumab) in patients with localized bladder cancer in the Proceedings of the National Academy of Sciences.

Evaluating dual checkpoint blockade and biomarkers of response

The trial enrolled 28 cisplatin-ineligible patients with high-risk localized bladder cancer at MD Anderson. Each patient received two doses of durvalumab and tremelimumab in combination and 24 patients completed surgery following treatment. Trial participants were 82% Caucasian and 18% Black or other races. Median age was 71 with men accounting for 71% and women 29% of participants.

Most patients experienced immune-related side effects, the most common of which were grade 1-2 rash (29%) and asymptomatic increases in amylase (29%). Six patients (21%) experienced grade 3 or higher immune-related adverse events, including asymptomatic laboratory values, hepatitis and colitis. No treatment-related deaths occurred.

Median overall survival has not been reached, and 24 patients were still alive at one year. In addition, 82.8% of patients that had surgery were free of disease recurrence at one year.

The researchers also collected pre- and post-treatment blood and tissue samples from patients to study biomarkers associated with response in collaboration with MD Anderson’s immunotherapy platform, which is co-led by Sharma. The platform is part of MD Anderson’s Moon Shots Program, a collaborative effort to accelerate the development of scientific discoveries into clinical advances that save patient’s lives.

The researchers identified a higher density of specialized immune-cell clusters called tertiary lymphoid structures (TLS) in pre-treatment tumor samples from patients who responded well to combination therapy relative to those who did not respond. A higher density of TLS correlated with longer overall survival and relapse-free survival.

While these findings need to be confirmed in larger studies, the data suggests that TLS may serve as a useful predictive biomarker for those who will respond to checkpoint blockade, explained Sharma. These findings are in agreement with previously published MD Anderson research reporting that an enrichment of B cells within TLS were predictive of response to checkpoint inhibitors in patients with melanomas, soft-tissue sarcomas and renal cell carcinomas.

This research was supported by a collaboration between MD Anderson’s immunotherapy platform and AstraZeneca/MedImmune, the MD Anderson Physician-Scientist Award, the Khalifa Fellows Award, which was established by the Khalifa Bin Zayed Al Nahyan Foundation, the Andrew Sabin Family Foundation Fellows Award, and Wendy and Leslie Irvin Barnhart. Sharma and co-author James P. Allison, Ph.D., are members of the Parker Institute for Cancer Immunotherapy (PICI) and co-directors of PICI at MD Anderson.

In addition to Gao and Sharma, additional collaborators on this study include: Neema Navai, M.D., Ashish Kamat, M.D., Surena Matin, M.D., John Papadopoulos, M.D., and Colin Dinney, M.D., all of Urology; Omar Alhalabi, M.D., Arlene Siefker-Radtke, M.D., Matthew Campbell, M.D., John Araujo, M.D., Ph.D., Amishi Shah, M.D., Pavlos Msaouel, M.D., Ph.D., Paul Corn, M.D., Ph.D., Jianbo Wang, M.D., Ph.D., Jianfeng Chen, Ph.D., and Sangeeta Goswami, M.D., Ph.D., all of Genitourinary Medical Oncology; Rebecca Slack Tidwell and Yu Shen, Ph.D., both of Biostatistics; Charles Guo, M.D., of Pathology; Jorge Blando, D.V.M, Fei Duan, Ph.D., Sreyashi Basu, Ph.D., Shalini Singh Yadav, Ph.D., Wenbin Liu, Yuwei Zhang, Ph.D., Marc Daniel Macaluso, Ph.D., Ying Wang, Ph.D., all of the immunotherapy platform; Jianhua Zhang, Ph.D., and Andrew Futreal, Ph.D., both of Genomic Medicine; and James P. Allison, Ph.D., of Immunology and the immunotherapy platform. A full list of authors’ disclosures can be found with the paper here.

Aurum Biosciences Receives £670k in New Equity Funding Round

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."

Mubadala Investment Company and Novo Holdings A/S invest € 250 million in Evotec SE

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.

Rhizen Pharmaceuticals S.A. and Curon Biopharmaceutical Limited Announce an Exclusive Licensing Agreement to Develop and Commercialize Tenalisib, a Dual PI3K Delta and Gamma Inhibitor for Oncology in Greater China

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).