FDA Grants Pediatric Disease Designation for Mateon’s OT101 For treatment of diffuse intrinsic pontine glioma (DIPG), a difficult to treat form of childhood brain tumor

On September 23, 2019 Mateon Therapeutics Inc. (OTCQB:MATN) reported that the US Food and Drug Administration (FDA) granted Rare Pediatric Disease Designation for OT101/Trabedersen for the treatment of diffuse intrinsic pontine glioma (DIPG) as a drug for a "rare pediatric disease (Press release, Mateon Therapeutics, SEP 23, 2019, View Source [SID1234539855])."

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"We are excited about this Rare Pediatric Disease designation for our lead anti-brain tumor drug candidate for pediatric DIPG patients who are in urgent need for therapeutic innovations," said Dr. Vuong Trieu, Chief Executive Officer of Mateon. "We will continue to build on our pipeline of therapeutics for rare and orphan diseases, including cancers."

Brainstem tumors comprise approximately 10-15 percent of all pediatric brain tumors and DIPG is the most common brainstem tumor and the second most common malignant brain tumor of childhood. DIPG, is an orphan disease with a low survival rate and no established or effective standard of care. Despite numerous clinical trials of chemotherapeutic agents, immuno-oncology drugs and specific targeted therapies, no significant progress has been made in the treatment of DIPG and the prognosis remains dismal, with a mean OS of 9–12 months from the time of diagnosis, a median survival time of approximately 10 months, and a two-year OS rate of less than 10 percent. Five-year survival is less than 3 percent, and many long-term survivors have evidence of moderate or severe cognitive impairment, likely as a consequence of radiation therapy. Chemotherapy does not have an established role in the management of patients with DIPG. Furthermore, there is no standard treatment for progressive DIPG after the failure of radiation therapy and no salvage regimen has been shown to extend survival. Therefore, there is an urgent need for therapeutic innovations for treatment of DIPG, as reflected by multiple treatment modalities being evaluated in early neuro-oncology clinical trials.

OT101, a first-in-class RNA therapeutic, is designed to abrogate the immunosuppressive actions of TGF-beta 2. In a completed Phase 2 clinical study, OT-101 exhibited clinically meaningful single-agent activity and induced durable complete and partial responses in recurrent and refractory adult high-grade glioma patients, including adults with GBM. Further development of OT-101 may offer renewed hope for salvage therapy of pediatric DIPG patients who have this rare and fatal disease.

The FDA grants rare pediatric disease designation for diseases with serious or life-threatening manifestations that primarily affect people aged from birth to 18 years, and that affect fewer than 200,000 people in the U.S. Under the FDA’s Rare Pediatric Disease Priority Review Voucher program, a sponsor who receives an approval of a new drug application or biologics license application for a product for the prevention or treatment of a rare pediatric disease may be eligible for a voucher, which can be redeemed to obtain priority review for any subsequent marketing application, and may be sold or transferred. In August 2019, AstraZeneca has reportedly paid approximately $95 million to buy a priority review voucher from Swedish Orphan Biovitrum (Sobi) (View Source). Likewise, Biohaven Pharmaceutical Holding Company Ltd. reportedly paid approximately $105 million for a priority review voucher in March 2019 (View Source).

Dr. Fatih Uckun, the Chief Medical Officer of Mateon is scheduled to give both a talk and a poster presentation on the clinical safety and anti-brain tumor efficacy of OT101 at the 24th Annual Meeting of the Society for NeuroOncology in Phoenix, Arizona in November 2019.

"The durable objective responses achieved in adult patients with recurrent/refractory high-grade gliomas after treatment with our lead anti-TGF beta2 compound OT-101 contribute to our optimism that new treatment strategies leveraging OT101 may favorably change the therapeutic landscape for difficult-to-treat brain tumors with a very poor prognosis," Dr. Uckun explained. "Our recent bioinformatics research has revealed that the TGF beta2 gene product, which is the molecular target for OT101, may serve as a target for immunotherapy in pediatric high-grade gliomas, especially DIPG. These in silico target validation data recently accepted for publication in a peer-reviewed medical journal extend the promising clinical data on the therapeutic activity of OT101 in adults and young adults and further demonstrate the potential of OT101 as a promising drug candidate in the treatment of pediatric DIPG, an orphan disease with a low survival rate and no established or effective standard of care."

Last month, Mateon announced that it had entered into a definitive agreement for the potential acquisition of PointR Data, Inc. (PointR), a privately-held developer of high-performance cluster-computing technologies for artificial intelligence. The proposed transaction would create a publicly-traded AI driven immuno-oncology company.

"We are working toward integrating artificial intelligence and drug development capabilities under one roof to create a pipeline of therapeutics for the niche market of rare pediatric diseases often ignored by large pharma" said Saran Saund, PointR’s Chief Executive Officer.

"AI-based cognitive technologies have the potential to streamline our clinical development strategy for the portfolio drug candidates by amplifying our knowledge and understanding of the target pediatric cancers, their biology as well as structural and pharmacologic characteristics of the lead compounds", said Dr. Fatih Uckun, MD, PhD, the Chief Medical Officer of Mateon. "Furthermore, the combined use of AI and the Blockchain technology supported by the PointR AI computing platform has a very high impact potential for a better cancer care and especially patient-tailored cancer treatments for pediatric and young adult cancer patient populations."

Athenex to Highlight Oral Paclitaxel Clinical Programs Targeting Various Solid Tumors at the ESMO Congress 2019

On September 23, 2019 Athenex, Inc. (Nasdaq: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, reported that it will present several posters highlighting clinical data from three of its ongoing programs for oral paclitaxel and encequidar ("Oral Paclitaxel"; f.k.a Oraxol or oral paclitaxel and HM30181) at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2019 to be held September 27 – October 1, 2019 in Barcelona, Spain (Press release, Athenex, SEP 23, 2019, View Source [SID1234573885]). The posters demonstrate the results from clinical studies of Oral Paclitaxel for patients with a number of advanced solid tumor types as well as in combination with ramucirumab, an anti-VEGFR2 antibody therapy.

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Please see the presentation details below. The abstracts can be found within the conference calendar here.

Poster: 477P
Title: An international randomized cross-over bio-equivalence study of oral paclitaxel + HM30181 compared with weekly intravenous (IV) paclitaxel in patients with advanced solid tumors
Session: Poster Display session
Date: September 28, 2019
Time: 12:00 – 13:00 CEST
Location: Poster Area (Hall 4)
Speaker: Edmond Ang (New Zealand)

Poster: 1733TiP
Title: A pilot study of oral paclitaxel (ORAXOL) in subjects with cutaneous angiosarcomas (KX-ORAX-010)
Session: Poster Display session
Date: September 28, 2019
Time: 12:00 – 13:00 CEST
Location: Poster Area (Hall 4)
Speaker: Herbert H. Loong (Shatin, Hong Kong PRC)

Poster: 800P
Title: A Phase 1b Study of Oraxol in combination with ramucirumab in patients with gastric or esophageal cancers who failed previous chemotherapy
Date: September 29, 2019
Time: 12:00 – 13:00 CEST
Session: Poster Display session
Location: Poster Area (Hall 4)
Speaker: Ming Huang Chen (Taipei City, Taiwan)

The Orascovery platform was initially developed by Hanmi Pharmaceuticals and licensed exclusively to Athenex for all major worldwide territories except Korea, which is retained by Hanmi.

Vedanta Biosciences Announces $16.6 Million Series C-2 Financing

On September 23, 2019 Vedanta Biosciences, a clinical-stage company developing a new category of therapies for immune-mediated diseases based on rationally-defined consortia of human microbiome-derived bacteria, reported a $16.6 million Series C-2 financing round, bringing the total capital raised in its Series C and C-2 round to $62.1 million (Press release, Vedanta Biosciences, SEP 23, 2019, View Source [SID1234539712]). Participants include QUAD Investment Management, SV Investment Corp., Shinhan Investment-Private Equity, Shinhan Capital-Yeollim Partners, Partners Investment Co., Ltd, FC Capital, and SymBiosis LLC, who join the previously announced Series C investors, including the Bill & Melinda Gates Foundation, Bristol-Myers Squibb, Rock Springs Capital, JSR Corporation, Shumway Capital, Invesco Asset Management, Health for Life (Seventure Partners), and founder PureTech Health. The funding further supports the expansion of Vedanta’s broad clinical pipeline, including the recently launched Phase 1b/2 study of VE416 in food allergy, a planned Phase 1b/2 study of VE800 and OPDIVO (nivolumab) in advanced or metastatic cancers, and the ongoing Phase 2 study of VE303 in recurrent Clostridioides difficile infection (rCDI).

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"We welcome the support from both existing and new investors for Vedanta’s expanding activities and maturing portfolio of product candidates based on rationally-defined consortia," said Bernat Olle, Ph.D., co-founder and chief executive officer of Vedanta Biosciences.

Vedanta Biosciences is developing drug candidates based on consortia of natural non-pathogenic bacterial strains designed to effect robust and durable therapeutic changes in a person’s gut microbiota. In contrast to fecal transplants or administration of fecal fractions, Vedanta Biosciences’ consortia are defined compositions of bacteria manufactured from pure, clonal cell banks, bypassing the need to rely on direct sourcing of fecal donor material of inconsistent composition.

Athenex to Present at the 2019 San Antonio Breast Cancer Symposium

On September 23, 2019 Athenex, Inc. (Nasdaq: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, reported that it will be making an oral presentation at the San Antonio Breast Cancer Symposium (SABCS) 2019, to be held December 10 – 14, 2019, in San Antonio, Texas, on its Phase III study of oral paclitaxel and encequidar ("Oral Paclitaxel"; f.k.a. Oraxol or oral paclitaxel and HM30181A) in metastatic breast cancer (Press release, Athenex, SEP 23, 2019, View Source [SID1234573886]).

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Presentation Details:

Date: Friday, December 13, 2019
Time: 3:15pm CT
Title: KX-ORAX-001: an open-labeled, multicenter, phase 3 registrational study to determine the safety, tolerability and tumor response of oraxol (HM30181A and oral paclitaxel) and its comparability to iv paclitaxel in patients with metastatic breast cancer (MBC)
Session: General Session 6
Location: Hall 3

The Orascovery platform was initially developed by Hanmi Pharmaceuticals and licensed exclusively to Athenex for all major worldwide territories except Korea, which is retained by Hanmi.

Entry into a Material Definitive Agreement

On September 17, 2019, AbbVie Inc. ("AbbVie") reported that it entered into an underwriting agreement (the "Underwriting Agreement") with Morgan Stanley & Co. International plc, HSBC Bank plc and Merrill Lynch International, acting for themselves and as representatives of the several underwriters named therein (collectively, the "Underwriters"), pursuant to which AbbVie agreed to issue and sell to the Underwriters €1.4 billion aggregate principal amount of its senior notes, consisting of €750 million aggregate principal amount of 0.750% senior notes due 2027 and €650 million aggregate principal amount of 1.250% senior notes due 2031 (collectively, the "Notes") in a registered public offering (Press release, AbbVie, SEP 23, 2019, View Source [SID1234539697]). The offering of the Notes was made pursuant to a Prospectus Supplement, dated September 17, 2019 and filed with the Securities and Exchange Commission (the "SEC") on September 19, 2019 (the "Prospectus Supplement"), and the Prospectus dated September 13, 2018, filed as part of the shelf registration statement (File No. 333-227316) that became effective under the Securities Act of 1933, as amended, when filed with the SEC on September 13, 2018.

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The Underwriting Agreement contains customary representations, warranties and covenants of AbbVie, conditions to closing, indemnification obligations of AbbVie and the Underwriters, and termination and other customary provisions.

AbbVie expects the offering of the Notes to close on September 26, 2019, subject to customary closing conditions. AbbVie intends to use the net proceeds from the offering of the Notes, together with cash on hand, (i) to redeem, satisfy and discharge or repay at maturity all of its 0.375% senior notes due 2019 in an aggregate outstanding principal amount of €1.4 billion, and to pay any premium and accrued interest in respect thereof, and/or (ii) for general corporate purposes.

Please refer to the Prospectus Supplement for additional information regarding the offering of the Notes and the terms and conditions of the Notes. The foregoing summary of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement attached as Exhibit 1.1 hereto.

Certain of the Underwriters and/or their affiliates have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, lending and/or commercial banking services, or other services for AbbVie and its subsidiaries, for which they have received, and may in the future receive, customary compensation and expense reimbursement.

The representations, warranties and covenants of each party set forth in the Underwriting Agreement have been made only for purposes of, and were and are solely for the benefit of the parties to, the Underwriting Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Underwriting Agreement, instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. In addition, certain representations and warranties were made only as of the date of the Underwriting Agreement or such other date as is specified therein. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Underwriting Agreement, which subsequent information may or may not be fully reflected in the parties’ public disclosures. Accordingly, the Underwriting Agreement has been included with this filing only to provide investors with information regarding the terms of this agreement, and not to provide investors with any other factual information regarding the parties, their respective affiliates or their respective businesses. The Underwriting Agreement should not be read alone, but should instead be read in conjunction with the periodic and current reports and statements that AbbVie and/or its subsidiaries file with the SEC.