bluebird bio Appoints O. James Sterling as Chief Financial Officer

On May 29, 2024 bluebird bio, Inc. (Nasdaq: BLUE) reported that O. James Sterling, has been appointed chief financial officer (CFO), effective June 10, 2024. Mr. Sterling most recently served as chief financial officer of Renalytix plc, a diagnostics company focused on clinical management of kidney disease (Press release, bluebird bio, MAY 29, 2024, View Source [SID1234643779]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are thrilled to welcome James to bluebird bio. We are confident that his extensive experience in the healthcare sector and knowledge of the capital markets will position us well as we work to prove the commercial gene therapy model, and demonstrate progress on our path to profitability," said Andrew Obenshain, chief executive officer, bluebird bio.

"It is an honor to be joining bluebird bio, a company that has pioneered gene therapy development over the past decade, and today is at the forefront of gene therapy commercialization," said O. James Sterling. "I look forward to working alongside others in the flock to drive growth, realize value for shareholders, and most importantly, support bluebird in its mission to bring transformative gene therapies to patients and their families."

Mr. Sterling was previously managing partner at Renwick Capital LLC, and managing director at investment banks Brock Capital Group LLC and Aleutian Capital Group. He also serves as a board director for a fund managed by Star Mountain Capital. Mr. Sterling has experience as a management consultant at Booz Allen Hamilton. He received his B.A. from Boston University and an MBA from Columbia Business School.

Mr. Sterling succeeds Chris Krawtschuk, who joined bluebird bio as chief financial officer in 2022. The transition will be effective June 10, 2024.

"I’d like to thank Chris for his contributions to the company over the past two years. We are particularly appreciative of his leadership role in accelerating critical cash flow into the company, as well as the completion of two equity raises and a debt agreement, which significantly extended the Company’s cash runway and strengthened our financial position during his tenure," said Obenshain.

On March 26, 2024, bluebird announced that it will restate its consolidated financial statements for the first three quarters and full-year 2022, as well as the first three quarters of 2023. As a result, the Company’s Annual Report Form 10-K for 2023 and its Q1 2024 Form 10-Q have been delayed. The Company is continuing to work expeditiously to complete these filings. Consistent with previous updates, the restatement is not expected to impact the Company’s cash position or revenue. Mr. Sterling will transition to oversee the restatement process upon his start date.

ORIC Pharmaceuticals to Participate in Upcoming Investor Conferences

On May 29, 2024 ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, reported that management will participate in the following investor conferences in June (Press release, ORIC Pharmaceuticals, MAY 29, 2024, View Source [SID1234643796]):

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Jefferies Global Healthcare Conference – Participating in a fireside chat on Wednesday, June 5, 2024, at 10:30 a.m. ET.
Goldman Sachs 45th Annual Global Healthcare Conference – Participating in a fireside chat on Monday, June 10, 2024, at 10:40 a.m. ET.
Webcasts of the discussions will be available through the investor section of the company’s website at www.oricpharma.com. Replays of the webcasts will be available for 90 days following the events.

AVELOS THERAPEUTICS ANNOUNCES KRW 17 BILLION SERIES B FUNDING ROUND, SURPASSING KRW 30 BILLION TOTAL RAISED

On May 29, 2024 Avelos Therapeutics, a leading innovator in the development of novel anti-cancer drugs, reported to have completed a successful Series B funding round totaling KRW 17 billion (approximately $12.3 million USD) on April 30 (Press release, Avelos Therapeutics, MAY 29, 2024, View Source [SID1234643812]). Leading this effort was Stassets Investment, alongside new investors LSK Investment, Medytox Venture Investment, Shinhan Capital and Heungkuk Securities. Avelos’ existing funders–SV Investment, Mirae Asset Venture Investment, Quad Investment Management and Timefolio Capital–also made financial contributions. This latest funding round brings Avelos’ total raised to KRW 30 billion (approximately $21.7 million USD) between seed (KRW 2 billion), Series A (KRW 10 billion), and Series B funding.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Founded on Sept. 1, 2021 by new drug development experts CEO Young Whan Park, CTO Soongyu Choi and Head of Business Development Kangsik Yun, Avelos focuses on developing small molecule synthetic drugs targeting synthetic lethality, DNA damage response and cell cycle regulation. Currently, the company is developing four new anti-cancer drug pipelines.

At the forefront of Avelos’ world-class innovation is AD1208, a first-in-class MASTL kinase inhibitor, preclinical candidate of the AVS1001 project designed to affect mitosis in cell cycle process and DNA damage response. This drug offers an option for cancer patients who have been unresponsive to current drugs, and can treat colon cancer, stomach cancer, breast cancer, ovarian cancer and prostate cancer. An oral medication, AD1208 demonstrates excellent efficacy in selectively inhibiting cancer cells in both laboratory and animal testing. Clinical trials are scheduled to start in the second half of the year, following preclinical toxicity study, using funding from the Series B investment.

In April, Avelos disclosed preclinical research findings for AVS1001 project at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) (AACR 2024). The company now aims to begin full-scale development.

In addition to AVS1001, Avelos has three other projects in its pipeline, aimed at promising targets in the DNA damage response field. Among them, the AVS1002 project is planning to identify a development candidate by the end of this year, for treating patients with homologous recombination deficiency (HRD) in the DNA damage response. This is of significant interest to those in the field of synthetic lethality, as inhibiting this target raises expectations for effectively treating patients resistant to approved drugs in this field, especially PARP inhibitors, or those with HRD that current PARP inhibitors cannot cover. Avelos plans to select candidates later this year and conduct preclinical toxicity study in 2025. As with the development of AD1208, the Series B funding will support these advancements.

With these notable achievements in research and development, Avelos plans to identify collaborative Korean research partners and facilitate global technology transfer in 2025. The company also plans to list on the KOSDAQ stock market after securing two additional clinical-stage substances.

"The successful completion of the Series B investment, despite challenging conditions with decreased biotech sector investments, underscores the market’s high regard for our expertise, capabilities and growth potential," said Young Whan Park, CEO of Avelos. "The global competitiveness of all treatments in development and adherence to our challenging development timeline have been critical to our success. With this investment, we aim to cultivate globally competitive new anti-cancer drugs and evolve into a leading global biotech firm specializing in world-class synthetic lethality."

"Following a focus on securing our R&D pipeline, our next strategic move will include establishing a foundation for global expansion," said Soongyu Choi, Ph.D., who was promoted from CTO to co-CEO in January of this year. He also emphasizes that our scientists at Avelos design and strive for the best outcomes that increase the probability of success in novel drug development.

To learn more about Avelos Therapeutics, visit avelostx.com.

Naveris to Present New Data Highlighting Clinical Utility of the NavDx® Test at the 2024 ASCO Annual Meeting

On May 29, 2024 Naveris, Inc., the leader in precision oncology diagnostics for viral-induced cancers, reported new data to be presented at The American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting in Chicago, IL from May 31 – June 2, 2024 (Press release, Naveris, MAY 29, 2024, View Source [SID1234643829]). These presentations underscore Naveris’ continued innovation with the NavDx test, the first and only clinically validated circulating Tumor Tissue Modified Viral (TTMV)-HPV DNA blood test aiding in the detection and management of HPV-driven cancers.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"ASCO provides an unparalleled platform to showcase the versatility and clinical value of NavDx across various stages of cancer management from early detection to post-treatment surveillance," said Barry M. Berger, MD, Chief Medical Officer at Naveris. "We are pleased to present new data highlighting the high predictive value of TTMV-HPV DNA and its utility in monitoring disease status during treatment. These results demonstrate how NavDx is transforming the care landscape for patients with HPV-driven cancers."

These presentations also highlight Naveris’ on-going commitment to patient-centered innovation and collaboration with stakeholders across the cancer care ecosystem. Lillian Kreppel, Co-Founder and Executive Director of the HPV Cancers Alliance, commented, "The HPV Cancers Alliance celebrates the innovation of tests that can more accurately detect a recurrence of cancer before it is found through a visual exam. This can result in more informed patients, an earlier indication of possible recurrence, more targeted care options for patients, and ultimately more lives saved. The HPV Cancers Alliance desires the best quality of life and outcomes possible for all cancer survivors and their families."

The presentations at ASCO (Free ASCO Whitepaper) will report on the efficacy of Naveris’ circulating tumor HPV DNA-based approach for monitoring disease status, predicting recurrence, and guiding therapy in HPV-driven cancers:

Poster Presentation | Abstract #6066
Presenter: Krzysztof Misiukiewicz, MD, Icahn School of Medicine at Mount Sinai
Can TTMV clearance predict recurrence in HPV HNSCC?

This study evaluates the predictive value of TTMV-HPV DNA in patients with locally advanced HPV-positive head and neck squamous cell carcinoma (HNSCC). Patients with rapid clearance of TTMV after induction chemotherapy (IC) remained disease-free, while 27% of those with persistent TTMV experienced relapses. The negative predictive value (NPV) of TTMV was 100%, and the positive predictive value (PPV) was 96%, supporting its use in guiding treatment intensity and surveillance.
Poster Presentation | Abstract #6067
Presenter: Krzysztof Misiukiewicz, MD, Icahn School of Medicine at Mount Sinai
TTMV and association with relapse in patients with HPV-related SCCHN undergoing CRT

This study explores the use of TTMV-HPV DNA to monitor disease status in patients with HPV-related squamous cell carcinoma of the head and neck (SCCHN) undergoing chemoradiation therapy (CRT). TTMV can identify recurrence or persistence and can synergize with PET to guide therapy, as all 3 post-CRT recurrences were detected using TTMV and confirmed with PET and biopsy. The combination of TTMV with PET enhances response assessment and helps guide treatment strategies.
Poster Presentation | Abstract #TPS6119
Presenter: James Edward Bates, MD, Emory University
Biomarker-driven radiation therapy dose reduction after transoral robotic surgery for the treatment of HPV-positive oropharyngeal cancer

This trials in progress abstract highlights an ongoing multi-institutional phase II trial evaluating the efficacy of reducing radiation therapy doses based on biomarker data post-transoral robotic surgery for HPV-positive oropharyngeal cancer. Patients with undetectable post-operative TTMV-HPV DNA without high-risk pathologic factors undergo de-escalation of adjuvant radiation therapy to 36 Gy, aiming to improve long-term swallowing function.
Publication Only | Abstract #e15045
Presenter: Scott Roof, MD, Icahn School of Medicine at Mount Sinai
The NAVigate-HPV Registry: A comprehensive biomarker evidence base for HPV-driven cancers

This abstract outlines the structure and objectives of the recently launched NAVigate-HPV Registry, emphasizing its role in establishing a robust evidence base for the clinical utility of circulating tumor HPV DNA in managing HPV-driven cancers. The registry will systematically collect and analyze integrated biomarker and clinical data from various US cancer centers. The registry brings together representatives from 14 geographically diverse sites, expected to include over 1,000 patients within one year and grow to over 5,000 within five years.
Publication Only | Abstract #e18032
Presenter: Olga Russial, MD, Thomas Jefferson University Hospital
Clinical utility of circulating tumor tissue-modified viral HPV DNA testing in HPV-driven oropharyngeal cancer arising in women

This study evaluates the clinical utility of TTMV-HPV DNA testing in women with HPV-positive oropharyngeal squamous cell carcinoma (OPSCC). This is the first single institutional report evaluating the clinical utility of TTMV-HPV DNA in a female cohort treated for HPV+ OPSCC. Utilization of this testing in a female population appears feasible in a community-based hospital setting. All patients had TTMV resolution after treatment and remained undetectable without recurrence.
Naveris and the NavDx test will be on exhibit at ASCO (Free ASCO Whitepaper) 2024 at Booth #31142. More information can be found on the ASCO (Free ASCO Whitepaper) website here.

Bristol Myers Squibb Receives European Commission Approval for Opdivo® (nivolumab) in Combination with Cisplatin and Gemcitabine for the First-Line Treatment of Adult Patients with Unresectable or Metastatic Urothelial Carcinoma

On May 29, 2024 Bristol Myers Squibb (NYSE: BMY) reported that the European Commission (EC) has approved Opdivo (nivolumab) in combination with cisplatin and gemcitabine for the first-line treatment of adult patients with unresectable or metastatic urothelial carcinoma (UC) (Press release, Bristol-Myers Squibb, MAY 29, 2024, View Source [SID1234643780]). With this approval, Opdivo in combination with cisplatin and gemcitabine becomes the first concurrent immunotherapy-chemotherapy approved for the treatment of adult patients with unresectable or metastatic UC in the first-line setting in the European Union.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"With today’s approval by the EC, we’re pleased to be able to offer Opdivo concurrently with chemotherapy to eligible patients with unresectable or metastatic UC," said Dana Walker, M.D., M.S.C.E., vice president and global program lead, gastrointestinal and genitourinary cancers, Bristol Myers Squibb. "This is a major step forward for this patient population and reinforces our goal of advancing and delivering new options to patients with difficult-to-treat cancers. We extend our sincerest gratitude to the patients, their families, investigators and staff who contributed to this important research."

The EC’s decision is based on results from the CheckMate -901 trial studying Opdivo in combination with cisplatin and gemcitabine, which were presented at the European Society of Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2023. In CheckMate -901, Opdivo in combination with cisplatin and gemcitabine followed by Opdivo monotherapy demonstrated statistically significant and clinically meaningful improvements in the primary efficacy endpoints of overall survival (OS) and progression-free survival (PFS) compared to chemotherapy alone, as assessed by Blinded Independent Central Review (BICR). The safety profile was consistent with the known safety profiles of the individual components of the regimen. No new safety concerns were identified.

"In the CheckMate -901 trial, the combination of Opdivo with cisplatin and gemcitabine improved overall survival, reduced the risk of disease progression or death by 28% versus chemo alone, and demonstrated deep and durable responses versus chemo alone," said Michiel Van der Heijden, M.D, Ph.D., medical oncologist and research group leader, Netherlands Cancer Institute. "These findings are significant and reinforce that concurrent Opdivo and chemotherapy should be considered as a new standard of care for the first line treatment of eligible patients with this difficult-to-treat cancer."

This approval by the EC for Opdivo in combination with cisplatin and gemcitabine for the first-line treatment of adult patients with unresectable or metastatic UC is valid in all 27 member states of the EU, as well as Iceland, Liechtenstein and Norway.

This approval of Opdivo in combination with cisplatin and gemcitabine based on results of the CheckMate -901 trial, further supports the EU’s previous approval of Opdivo for the adjuvant treatment of adults with muscle-invasive urothelial carcinoma with tumor cell PD-L1 expression ≥1% who are at a high risk of recurrence after undergoing radical resection. In addition to this approved indication in UC, Opdivo-based options are also approved for treatment of 10 different cancer types in the EU including: non-small cell lung cancer (NSCLC), melanoma, esophageal squamous cell carcinoma (ESCC), gastric, gastroesophageal junction (GEJ) or esophageal adenocarcinoma (EAC), esophageal or gastroesophageal junction (GEJ) cancer, colorectal cancer, mesothelioma, renal cell carcinoma, esophageal squamous cell carcinoma (ESCC) and squamous cell cancer of the head and neck.

CheckMate -901 Efficacy and Safety Results

With a median follow up of approximately 33 months of the CheckMate -901 trial, results showed:

OS (overall survival; primary endpoint): Opdivo in combination with cisplatin and gemcitabine reduced the risk of death in patients by 22%, demonstrating a median OS of 21.7 months versus 18.9 months with cisplatin-gemcitabine alone (HR (hazard ratio): 0.78; 95% CI (confidence interval): 0.63, 0.96; p=0.0171).
PFS (progression-free survival; primary endpoint): Risk of disease progression or death reduced by 28%, with a median PFS of 7.9 months compared to 7.6 months with cisplatin-gemcitabine alone (HR 0.72; 95% CI: 0.59, 0.88; p=0.0012).
ORR (overall response rate; secondary endpoint): Opdivo in combination with cisplatin and gemcitabine resulted in an ORR of 57.6% (n=175) (95% CI: 51.8, 63.2) versus 43.1% (n=131) (95% CI: 37.5, 48.9) with cisplatin-gemcitabine alone.
CR (complete response) rate and PR (partial response) rate (secondary endpoints): The CR rate and PR rate seen in patients treated with Opdivo in combination with cisplatin and gemcitabine was 22% (n=66) and 36% (n=109), respectively, versus 12% (n=36) and 31% (n=95) with cisplatin-gemcitabine alone.
About CheckMate -901

CheckMate -901 is a Phase 3, randomized, open-label trial evaluating Opdivo in combination with Yervoy (ipilimumab) or Opdivo in combination with cisplatin and gemcitabine followed by Opdivo monotherapy compared to standard-of-care chemotherapy alone, in patients with untreated, unresectable or metastatic urothelial cancer.

In CheckMate -901, evaluating Opdivo with cisplatin and gemcitabine vs. standard-of-care chemotherapy alone, a total of 608 patients eligible for cisplatin-based chemotherapy were randomized to receive either Opdivo 360 mg in combination with cisplatin and gemcitabine every three weeks for up to six cycles followed by 480 mg/Q4 Opdivo monotherapy every 4 weeks until disease progression or death up to a maximum of two years, or cisplatin-gemcitabine alone every three weeks for up to six cycles. The primary endpoints of this study are overall survival (OS) and progression-free survival (PFS).

The OS and PFS outcomes for patients eligible for cisplatin-based chemotherapy are based on the final efficacy analyses of these endpoints.

The CheckMate -901 primary study, evaluating Opdivo plus Yervoy vs. standard-of-care cisplatin- or carboplatin-based chemotherapy in patients with untreated, unresectable or metastatic urothelial carcinoma remains ongoing.

Select Safety Profile from CheckMate -901

Serious adverse reactions occurred in 48% of patients receiving Opdivo with chemotherapy.1 The most frequent serious adverse reactions reported in ≥2% of patients who received Opdivo with chemotherapy were urinary tract infection (4.9%), acute kidney injury (4.3%), anemia (3%), pulmonary embolism (2.6%), sepsis (2.3%), and platelet count decreased (2.3%).1 The most common adverse reactions (reported in ≥20% of patients) were nausea, fatigue, musculoskeletal pain, constipation, decreased appetite, rash, vomiting, and peripheral neuropathy.1 Fatal adverse reactions occurred in 3.6% patients who received Opdivo with chemotherapy; these included sepsis (1%).1 Opdivo and/or chemotherapy were discontinued in 30% of patients and were delayed in 67% of patients for an adverse reaction.

About Urothelial Carcinoma

Bladder cancer is the ninth most common cancer in the world, with more than 600,000 new cases diagnosed annually. Urothelial carcinoma, which most frequently begins in the cells that line the inside of the bladder, accounts for approximately 90% of bladder cancer cases. In addition to the bladder, urothelial carcinoma can occur in other parts of the urinary tract, including the ureters and renal pelvis. The majority of urothelial carcinomas are diagnosed at an early stage, but rates of recurrence and disease progression are high. Approximately 50% of patients who undergo radical surgery will experience disease recurrence, especially within the first two to three years after surgical removal of the bladder or kidney. For patients whose disease recurs as metastatic cancer, the prognosis is poor, with a median overall survival of approximately 12 to 14 months when treated with systemic therapy.