Moleculin Announces Additional Positive Interim Results from Phase 1/2 Clinical Studies of Annamycin in Acute Myeloid Leukemia

On December 4, 2019 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, reported additional positive interim safety and efficacy data from one of the Company’s two ongoing open label, single arm Phase 1/2 studies of Annamycin for the treatment of relapsed or refractory acute myeloid leukemia ("AML") (Press release, Moleculin, DEC 4, 2019, View Source [SID1234551921]).

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The Phase 1 portion of these clinical trials, which are described in more detail later in this press release, is designed to establish the safety of Annamycin and to determine the Recommended Phase 2 Dose to be used in the Phase 2 portion of the trials. While the Primary Endpoint of the Phase 1 portion is safety, a Secondary Endpoint is the assessment of efficacy generally defined as an improvement in bone marrow biopsy results sufficient to qualify patients for a potentially curative bone marrow transplant. The Company cautions not to place undue reliance on interim results.

The third cohort in Poland receiving a single dose of 180 mg/m2 in the Phase 1 dose escalation portion of the trial was completed with no adverse events and the trial will continue to the next cohort of 210 mg/m2. In the US trial, one patient has completed treatment in the second cohort at 120 mg/m2. This brings the total number of patients treated and evaluated at or above 120 mg/m2 to 10. An additional patient in the US has begun treatment at 120 mg/m2 but has yet to complete post-treatment evaluation. The interim results for these 10 patients are 1 CRi (defined as a complete response with incomplete recovery of white blood cells and/or platelets) and 2 partial responses ("PRs" or where bone marrow blasts are reduced 50% and to below 25%). One additional patient was bridged to bone marrow transplant ("BT") based on a sufficient reduction in bone marrow blasts, bringing the total to 4 out of 10 patients at or above 120 mg/m2 who have demonstrated efficacy.

In the latest cohort in Poland, 1 of the 3 patients treated at 180 mg/m2 had a PR sufficient to qualify for a potentially curative bone marrow transplant. The results for all 3 patients were reviewed by the Safety Review Committee, which determined that no drug-related adverse events were observed that would prevent advancing the trial to the next higher dose level of 210 mg/m2. To date in the European trial, only one adverse event related to Annamycin has been reported; a patient experienced grade 2 mucositis (which resolved to grade 1 within 2 days). In the Company’s parallel US clinical trial, one new patient (the first of cohort #2) achieved a "morphologically leukemia free state" or MLFS, which also constitutes a CRi, after receiving a single dose of 120 mg/m2.

We refer to Annamycin as a "next generation anthracycline," because it is designed to provide enhanced therapeutic benefits when compared with traditional anthracyclines (like doxorubicin) while reducing the potential for unwanted cardiotoxicity, or damage to the heart. This design intent has previously been validated with preclinical toxicology studies in animal models (as required by FDA) demonstrating Annamycin has little to no cardiotoxicity when compared with doxorubicin. Of the 14 patients treated thus far in both trials, none has shown any evidence of cardiotoxicity. This includes 7 patients in Poland who were treated at levels above the US maximum allowable cumulative anthracycline dose level (550 mg/m2), a limitation not imposed on our trial in Europe. If upheld in further studies, this lack of toxicity could be an important differentiator between Annamycin and the currently approved anthracyclines, for which cardiotoxicity is a well-known treatment limitation.

For example, a recent review published in Cardiovascular Drugs and Therapy (View Source) reported that 65% of patients who received the equivalent of 550 mg/m2 of doxorubicin (a current standard of care anthracycline) exhibited sub-clinical cardiotoxicity, defined as a reduction in left ventricular ejection fraction >10% points to a value <50%. Of the 5 patients mentioned above who were treated in our European trial above 550 mg/m2, no evidence of cardiotoxicity was detected. The same published review also suggested that a better long-term indicator of cardiotoxicity may be the measurement of an increase in a biomarker called Troponin. When measured as an early biomarker of cancer therapy-related cardiotoxicity, Troponin rise occurs consistently in 21% – 40% of patients after treatment with current standard of care anthracycline chemotherapy and, per the published review, such an increase in Troponin is associated with an increased risk of heart disease later in life. Of the 14 patients treated thus far in both of our Annamycin clinical trials, none has shown an increase in Troponin levels.

"The interim data from our early-stage clinical trials of Annamycin continues to meet or exceed our expectations, from both a safety and efficacy perspective," commented Walter Klemp, Moleculin’s Chairman and CEO. "We believe the activity we are seeing – with 40% of patients treated at or above 120 mg/m2 responding with CRi’s, PR’s and/or bridging to a potentially curative bone marrow transplant – is encouraging, especially since we have yet to reach a maximum tolerable dose. Although the data is preliminary, we are excited by the results to date, and to continue moving forward. Importantly, recruitment continues to be much faster in Europe than in the US. We believe this is because Europe has imposed fewer regulatory constraints on the level of anthracycline dosing allowed and because there are far fewer competing AML clinical trials in Poland, where our clinical testing sites are located."

"We should also point out," Mr. Klemp continued, "that there are two particularly important aspects of our development program that distinguish the potential prospects for Annamycin. First, we are studying the potential benefits of Annamycin in all AML patients, not just a subset of the AML population based on a particular gene mutation or other biomarker. Second, Annamycin is being investigated not as an adjuvant to other therapies, but as a single agent to treat relapsed or refractory AML patients, primarily as a bridge to transplant. We also believe the absence of cardiotoxicity, if it is borne out, would be especially important for pediatric patients, in addition to possibly suggesting Annamycin as an attractive alternative to currently approved anthracyclines for treating cancers beyond AML."

Dr. Robert Shepard, Moleculin’s Chief Medical Officer for Annamycin added: "Although it is still early and the data are preliminary, I believe we may see that Annamycin has significant activity against relapsed and refractory AML. To have a 40% response rate this early in the dose-escalating process is very encouraging. And if the product ultimately is shown to have little or no cardiotoxicity – as the preliminary data suggest – there is a real potential for Annamycin to become the first approved anthracycline without a dose-limiting cardiovascular risk. The use of anthracyclines for induction therapy in acute leukemia is often, and unfortunately, limited if such treatment would put them over what is currently considered the ‘lifetime maximum’ anthracycline exposure (or ‘maximum cumulative dose’). However, authorities in the EU took into account Annamycin’s apparent lack of cardiotoxicity and have allowed us to demonstrate this in patients whose treatment would exceed this maximum cumulative dose. In fact, 7 of the 9 patients treated to date in Europe substantially exceeded that lifetime maximum based on their treatment with Annamycin and, of course, have shown no cardiotoxicity."

Study Design

The Company is studying Annamycin in both the US and Europe in open label, single arm clinical trials to assess the safety and efficacy of Annamycin for the treatment of adults with relapsed or refractory acute myeloid leukemia. The US and European trials have the same study design, consisting of a Phase 1 intended to establish a "Recommended Phase 2 Dose" ("RP2D"), to which the studies will then proceed. The Phase 1 studies provide for escalating doses in cohorts of 3 patients each, with each successive cohort receiving the next higher dose level until "dose limiting toxicities" prevent further increases. Cohorts 1, 2 and 3 in Poland received a dose of 120, 150 and 180 mg/m2, respectively, and the results now permit moving to 210 mg/m2. Cohort 1 in the US started at 100 mg/m2, and the results supported moving to 120 mg/m2, at which 1 patient has now been treated and evaluated as having achieved a "morphologically leukemia free state" or MLFS, which also constitutes a CRi. Because one patient in US cohort 1 did not complete the evaluation protocol, a fourth patient was added to complete that cohort. Once the Company establishes an RP2D, the intent is for each trial to advance to a Phase 2 arm planned to assess the safety and efficacy of Annamycin in 21 additional patients.

The data reported here is preliminary as collected by independent CRO site monitors per standard practice and is subject to subsequent quality assurance review.

We have been and intend to continue reporting top-line results by cohort in each trial, with each announcement also including an update on the other trial. Top-line results will include reporting of any drug-related adverse events ("AEs") and assessment of cardiotoxicity, including ECHO or MUGA scans measuring change in ejection fraction and measuring blood Troponin level, which is considered a biomarker for potential long-term cardiovascular impairment. To date, one patient experienced grade 2 mucositis (which resolved to grade 1 within 2 days) and no other drug-related AEs have been reported. Also, no loss of ejection fraction or rise in Troponin levels has been reported. Top-line results will also include the number of partial responses ("PRs"), complete responses ("CRs") and patients deemed capable of progressing to a potentially curative bone marrow transplant, which we term "bridge to transplant" ("BTs"), each of which is essentially a function of the magnitude of reduction in a patient’s bone marrow blasts. For purposes of these clinical trials, a CR means that the patient’s bone marrow blasts reduced to 5% or less (with CRi meaning a CR where there was incomplete recovery of white blood cell and/or platelet counts), a PR means the patient’s bone marrow blasts reduced by 50% and resulted in a blast count of 25% or less, and a BT means patients are deemed capable of progressing to a potentially curative bone marrow transplant. To date, there has been 1 CRi in the US (@ 120 mg/m2), 2 PRs in Europe (1 @ 120 mg/m2 and 1 @ 180 mg/m2) and 4 BTs (1 in the US and 3 in Europe).

The US trial also differs from the European trial in that the FDA would like to review safety data relating to cardiotoxicity from patients treated prior to advancing beyond 120 mg/m2, as exceeding this dose level would require the patient to exceed the established lifetime maximum exposure to anthracyclines (presuming all anthracyclines are cardiotoxic). To date, 100% of all 14 patients treated in both the US and EU trials have shown no incidence of cardiotoxicity, including 7 patients out of 9 treated in Poland who exceeded the lifetime maximum anthracycline exposure level. The Company believes that the additional

patient safety data gained from the European trial may also assist in the FDA’s review of Annamycin’s cardiac safety.

Roche Holdings, Inc. Announces Pricing of its Debt Tender Offer and Increase to the Maximum Tender Amount

On December 4, 2019 Roche Holdings, Inc. (the "Offeror") reported the pricing of its previously announced tender offer (the "Offer") to purchase for cash for a combined aggregate purchase price (exclusive of Accrued Interest (as defined herein)) of up to $2,000,000,000 the 7.00% Notes due 2039 (the "2039 Notes") issued by the Offeror and guaranteed by Roche Holding Ltd (the "Company"), the 3.35% Notes due 2024 issued by the Offeror and guaranteed by the Company, the 3.25% Notes due 2023 issued by the Offeror and guaranteed by the Company, the 3.00% Notes due 2025 issued by the Offeror and guaranteed by the Company, the 2.875% Notes due 2021 issued by the Offeror and guaranteed by the Company, and the 5.25% Senior Notes due 2035 issued by the Offeror’s subsidiary, Genentech, Inc. ("Genentech") (together, the "Securities") (Press release, Roche Deutschland Holding, DEC 4, 2019, View Source [SID1234551939]). In addition, the Offeror announced that it has increased the maximum combined aggregate purchase price (exclusive of Accrued Interest) to $2,873,519,181.27 (such amended amount, the "Maximum Tender Amount").

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The following table sets forth certain pricing information for the Offer, including the Total Consideration (as defined below) determined based on yields on the applicable Reference U.S. Treasury Securities at 10:00 a.m., New York City time, today:

Inclusive of Early Tender Premium.

The Offeror has accepted for purchase on the Early Settlement Date (as defined below) all Securities that were validly tendered at or before the Early Tender Date.

The Offer is being made upon and is subject to the terms and conditions set forth in the offer to purchase dated November 19, 2019 (the "Offer to Purchase," as amended hereby). The Offer will expire at 11:59 p.m., New York City time, on December 17, 2019, unless extended or earlier terminated by the Offeror (as it may be extended or earlier terminated with respect to a series of Securities, the "Expiration Date"). The deadline to validly withdraw tenders of Securities was 5:00 p.m., New York City time, on December 3, 2019; therefore, Securities that have been tendered and not validly withdrawn, and Securities tendered after that date, may not be withdrawn unless otherwise required by applicable law.

The consideration to be paid in the Offer for each series of Securities that are purchased pursuant to the Offer was determined in the manner described in the Offer to Purchase at 10:00 a.m., New York City time, today by reference to the applicable fixed spread specified for each series of Securities in the table above over the yield based on the bid side price of the applicable U.S. Treasury Security specified for each series of Securities in the table above (the "Total Consideration"). Holders of Securities that were validly tendered and not withdrawn on or prior to 5:00 p.m., New York City time, on December 3, 2019 (the "Early Tender Date") and accepted for purchase will receive the applicable Total Consideration, which includes an early tender premium of $30 per $1,000 principal amount of the Securities accepted for purchase (the "Early Tender Premium").

Payment for Securities that were validly tendered on or prior to the Early Tender Date and accepted for purchase will be made promptly following the Early Tender Date, expected to be December 5, 2019 (such date, the "Early Settlement Date"). Payments for Securities purchased in the Offer will include accrued and unpaid interest from and including the last interest payment date applicable to the relevant series of Securities up to, but not including, the Early Settlement Date for such Securities accepted for purchase (the "Accrued Interest"). No tenders submitted after the Expiration Date will be valid.

Since the Offer was fully subscribed as of the Early Tender Date, holders who validly tender Securities following the Early Tender Date will not have any of their Securities accepted for purchase.

The Offeror reserves the right, subject to applicable law, to: (i) waive any and all conditions to the Offer; (ii) extend or terminate the Offer; (iii) increase or decrease the Maximum Tender Amount and/or the Acceptance Sublimit; or (iv) otherwise amend the Offer in any respect.

J.P. Morgan Securities LLC and Barclays Capital Inc. are acting as dealer managers for the Offer (the "Dealer Managers"). The information agent and tender agent (the "Information and Tender Agent") for the Offer is D.F. King & Co., Inc. Copies of the Offer to Purchase and related offering materials are available by contacting the Information and Tender Agent at +1 (866) 829-0541 (toll-free) or +1 (212) 269-5550 (collect) or email [email protected]. Questions regarding the Offer should be directed to J.P. Morgan Securities LLC, Liability Management Group, at +1 (866) 834-4666 (toll-free) or +1 (212) 834-8553 (collect) or London +44 207 134 2468, or to Barclays Capital Inc., Liability Management Group, at +1 (212) 528-7581 (collect) or +1 (800) 438-3242 (toll-free).

This announcement shall not constitute an offer to purchase or sell or a solicitation to buy or sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.

SELLAS to Present at the 12th Annual LD Micro Main Event

On December 4, 2019 SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) ("SELLAS" or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel cancer immunotherapies for a broad range of cancer indications, reported Angelos Stergiou, M.D., ScD h.c., President and Chief Executive Officer of SELLAS, will present a corporate overview at the 12th Annual LD Micro Main Event on Wednesday, December 11, 2019 at 9:00 a.m. PT in Los Angeles, CA (Press release, Sellas Life Sciences, DEC 4, 2019, View Source [SID1234551922]).

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A live audio webcast of the presentation will be available under "Events & Presentations" in the Investors section of SELLAS’ website at www.sellaslifesciences.com/investors. A replay of the webcast will be available for up to 30 days on SELLAS’ website following the presentation.

Accelerate Diagnostics to Participate in 31st Annual Piper Jaffray Healthcare Conference in New York on December 4, 2019

On December 4, 2019 Accelerate Diagnostics, Inc. (NASDAQ: AXDX) reported that Larry Mehren, chief executive officer, will participate in a 25-minute question and answer session at the 31st Annual Piper Jaffray Healthcare Conference in New York on December 4, 2019 at 3:30 p.m. Eastern Time (Press release, ACCELERATED MEDICAL DIAGNOSTICS, DEC 4, 2019, View Source [SID1234551940]). Jack Phillips, chief operating officer, and Steve Reichling, the company’s chief financial officer, will accompany Mr. Mehren.

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A live audiocast of the session will be accessible through the company’s investor relations website at ir.axdx.com. A replay of the audiocast will be available for at least 30 days following the conference.

Sesen Bio Completes Successful CMC Type B pre-BLA Meeting with FDA

On December 4, 2019 Sesen Bio (Nasdaq: SESN), a late-stage clinical company developing targeted fusion protein therapeutics for the treatment of patients with cancer, reported the successful completion of a constructive Type B pre-BLA meeting with the FDA regarding the final Chemistry, Manufacturing and Controls (CMC) content of the Company’s Biologics License Application (BLA) for Vicinium (Press release, Sesen Bio, DEC 4, 2019, View Source [SID1234551923]). As previously announced, the Company expects to initiate the submission of the BLA for Vicinium in December 2019.

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"After four highly collaborative and productive meetings with the FDA in 2019, we feel increasingly confident in the regulatory path forward for Vicinium," said Dr. Thomas Cannell, president and chief executive officer of Sesen Bio.

Sesen Bio reached agreement with the FDA on the final content of the BLA and no further meetings were requested by the FDA at this time. The Company also gained a clear understanding of the FDA’s requirements for the process performance qualification (PPQ) campaign for bulk drug substance and drug product manufacturing. In addition, the Company continues to work in partnership with the FDA to accelerate the timing of the Pre-License Inspection (PLI) of the drug substance manufacturer, which is anticipated to expedite review of the BLA.

Additional details on regulatory progress in support of the potential approval of Vicinium are expected to be announced this December.

Key December 2019 Events

Anticipated initiation of BLA submission under a Rolling Review
Sesen Bio Regulatory Update
About Vicinium
Vicinium, a locally-administered fusion protein, is Sesen Bio’s lead product candidate being developed for the treatment of high-risk non-muscle invasive bladder cancer (NMIBC). Vicinium is comprised of a recombinant fusion protein that targets epithelial cell adhesion molecule (EpCAM) antigens on the surface of tumor cells to deliver a potent protein payload, Pseudomonas Exotoxin A. Vicinium is constructed with a stable, genetically engineered peptide tether to ensure the payload remains attached until it is internalized by the cancer cell, which is believed to decrease the risk of toxicity to healthy tissues, thereby improving its safety. In prior clinical trials conducted by Sesen Bio, EpCAM has been shown to be overexpressed in NMIBC cells with minimal to no EpCAM expression observed on normal bladder cells. Sesen Bio is currently conducting the Phase 3 VISTA trial, designed to support the registration of Vicinium for the treatment of high-risk NMIBC in patients who have previously received a minimum of two courses of bacillus Calmette-Guérin (BCG) and whose disease is now BCG-unresponsive. Additionally, Sesen Bio believes that cancer cell-killing properties of Vicinium promote an anti-tumor immune response that may potentially combine well with immuno-oncology drugs, such as checkpoint inhibitors. The activity of Vicinium in BCG-unresponsive NMIBC is also being explored at the US National Cancer Institute in combination with AstraZeneca’s immune checkpoint inhibitor durvalumab.