ENDOCYTE ENTERS INTO AGREEMENT TO BE ACQUIRED BY NOVARTIS AG FOR $2.1 BILLION

On October 18, 2018 Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted therapeutics for cancer treatment, reported that it has entered into an agreement and plan of merger with Novartis AG ("Novartis") pursuant to which Novartis will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash (Press release, Endocyte, OCT 18, 2018, View Source [SID1234529960]). This offer represents a premium of 54% percent to Endocyte’s closing price of $15.56 on October 17, 2018. The transaction was unanimously approved by the board of directors of Endocyte.

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"Since acquiring exclusive worldwide rights to develop and commercialize PSMA-617 agents in 2017, the entire Endocyte team, along with our partners, have worked tirelessly to build a leading radioligand (RLT) portfolio and create value for patients and shareholders alike. We are thrilled that Novartis recognizes the potential for 177Lu-PSMA-617 to change the treatment landscape for men with metastatic castration-resistant prostate cancer (mCRPC), as well as the broader role that RLTs may potentially play in the treatment of cancer," said Mike Sherman, president and CEO of Endocyte. "The global reach and expertise of Novartis in developing and commercializing RLT therapies will be critical in efforts for patients to benefit from these therapies as quickly as possible."

Completion of the transaction is expected in the first half of 2019, subject to approval by Endocyte stockholders, antitrust and regulatory approvals and other customary closing conditions. Until that time, Endocyte will continue to operate as a separate and independent company.

Centerview Partners LLC is acting as lead financial advisor to Endocyte. Jefferies LLC is also acting as financial advisor to Endocyte. Faegre Baker Daniels LLP is acting as legal counsel to Endocyte.

Website Information

Endocyte routinely posts important information for investors on its website, www.endocyte.com, in the "Investors & News" section. Endocyte uses this website as a means of disclosing material information in compliance with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the "Investors & News" section of Endocyte’s website, in addition to following its press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, Endocyte’s website is not incorporated by reference into, and is not a part of, this document.

Roche reports very strong growth in the first nine months of 2018

On October 17, 2018 Roche reported very strong growth in the first nine months of 2018 (Press release, Hoffmann-La Roche, OCT 17, 2018, View Source [SID1234529993]).

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Group sales increase 7% [1] at constant exchange rates and in Swiss francs
Pharmaceuticals Division sales up 7%, driven mainly by Ocrevus, Perjeta, Alecensa and Tecentriq
Diagnostics Division sales grow 6%, primarily due to demand for immunodiagnostic solutions
Recent approvals: Hemlibra for people with haemophilia A without factor VIII inhibitors, Actemra sub-cutaneous formulation for active systemic juvenile idiopathic arthritis and prefilled syringes for Xolair in the US; Alecensa for a form of lung cancer in China
Outlook for 2018 confirmed

Commenting on the Group’s results, Roche CEO Severin Schwan said: "In the first nine months of the year, both our Pharmaceuticals and Diagnostics Divisions achieved very strong sales growth. The uptake of our new medicines continued to be strong in the third quarter. I am also very pleased that following the recent additional FDA approval, Hemlibra is now broadly available in the US for people with haemophilia A. Based on the performance in the first nine months of the year, we will achieve our full-year targets."

Group sales
Very strong sales growth in both divisions
In the first nine months of 2018, Group sales rose 7% to CHF 42.1 billion. Sales in the Pharmaceuticals Division increased 7% to CHF 32.7 billion. Key growth drivers were the recently launched medicine Ocrevus, used to treat two forms of multiple sclerosis, and cancer medicines Perjeta, Alecensa and Tecentriq. As expected, the strong growth reported for the Pharmaceuticals Division was partially offset by lower sales of MabThera/Rituxan and of Tarceva.

In the US, sales increased 14%, led by Ocrevus, Herceptin and Perjeta. Ocrevus sales were supported by continued strong new patient demand. The 30% sales increase of Perjeta was driven by its use for adjuvant (after surgery) treatment of patients with HER2-positive early breast cancer at high risk of recurrence. [2]

In Europe (-8%), strong launches of our new medicines Ocrevus, Tecentriq and Alecensa, especially in Germany, partially offset declining sales of MabThera/Rituxan (-48%) and Herceptin (-10%), which were impacted by biosimilar competition. Perjeta sales continued to grow, specifically in the metastatic and neoadjuvant settings. In the International region, sales grew 8%, led by the Asia–Pacific and Latin America subregions. In the Asia–Pacific region, growth was driven by sales in China. In Japan, sales were stable.

Diagnostics Division sales increased 6% to CHF 9.4 billion. Centralised and Point of Care Solutions (+7%) was the main contributor, led by the growth of its immunodiagnostics business (+10%). Sales increased in all business areas and all regions. Growth was driven by the Asia–Pacific (+13%) and North America (+6%) regions. Sales increased 2% in EMEA [3], 8% in Latin America and 3% in Japan.

Milestones for Roche medicines
In recent months, health authorities granted approvals for several Roche products. The US Food and Drug Administration (FDA) approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children, aged newborn and older, with haemophilia A without factor VIII inhibitors.

Approval was granted by the FDA for single-dose prefilled syringes for Xolair as an additional formulation for both allergic asthma and chronic idiopathic urticaria (CIU) indications. Further, US approval was granted for the subcutaneous formulation of Actemra for the treatment of active systemic juvenile idiopathic arthritis in patients aged two and older.

The China National Drug Administration (CNDA) granted marketing authorisation for Alecensa as a monotherapy treatment for patients with anaplastic lymphoma kinase (ALK)-positive, advanced non-small cell lung cancer (NSCLC).

The European Committee for Medicinal Products for Human Use (CHMP) recommended the approval of the subcutaneous formulation of RoActemra for the treatment of active systemic juvenile idiopathic arthritis in patients aged one and older. The CHMP also recommended the approval of Venclyxto in combination with MabThera for the treatment of people with chronic lymphocytic leukaemia who have received at least one prior therapy.

The FDA granted Breakthrough Therapy Designation for Xolair for the prevention of severe allergic reactions following accidental exposure to one or more foods in people with allergies.

The European Medicines Agency (EMA) granted PRIME (PRIority MEdicines) designation for Roche’s investigational medicine RG6042 (formerly known as IONIS-HTTRx) for the treatment of people with Huntington’s disease (HD).

Clinical trial results on Roche medicines
Results from a number of late-stage studies were announced in recent months: results from the phase III Katherine study showed that treatment with Kadcyla as a single agent significantly reduced the risk of disease recurrence or death (invasive disease-free survival, iDFS) compared to Herceptin as an adjuvant (after surgery) treatment in people with HER2-positive early breast cancer (eBC) who have residual disease (pathological invasive residual disease in the breast and/or axillary nodes) present following neoadjuvant (before surgery) treatment.

Five-year data from the phase III open-label extension studies of Opera I, Opera II and Oratorio show that Ocrevus efficacy is maintained on key measures of disease activity and that people treated earlier with Ocrevus had superior disability progression outcomes compared with RMS patients who switched from interferon beta-1α or PPMS patients who switched from placebo.

Positive results from the phase III IMpower133 study of Tecentriq plus carboplatin and etoposide (chemotherapy) for the initial (first-line) treatment of people with previously untreated extensive-stage small cell lung cancer (ES-SCLC) showed that Tecentriq and chemotherapy helped people live significantly longer compared with chemotherapy alone in the intention-to-treat (ITT) population. The Tecentriq-based combination also significantly reduced the risk of disease worsening or death (progression-free survival, PFS) compared with chemotherapy alone.

An integrated analysis of the pivotal entrectinib phase II Startrk-2, phase I Startrk-1 and phase I Alka trials showed that entrectinib shrank tumours (objective response rate; ORR) in 77.4% of people with locally advanced or metastatic ROS1-positive non-small cell lung cancer (NSCLC). In addition, entrectinib demonstrated a durable response of more than two years (duration of response = 24.6 months).

The phase III Capstone-2 study showed treatment with baloxavir marboxil significantly reduced the time to improvement of influenza symptoms versus placebo (median time of 73.2 hours versus 102.3 hours) in people at high risk of serious complications from the flu, which includes adults aged 65 years and older, or those who have conditions such as asthma, chronic lung disease, morbid obesity, or heart disease. Baloxavir marboxil is the first potential influenza treatment in clinical trials to demonstrate a clinically meaningful benefit for people highly vulnerable to serious influenza complications.

Interim clinical data were announced from the dose-finding parts of the pivotal Firefish and Sunfish studies investigating risdiplam (RG7916) in SMA. In the Firefish study in type 1 SMA, six out of 14 infants (43%) were able to sit (with or without support), including three (21%) who achieved unassisted stable sitting after eight months of treatment. In addition, four infants (29%) demonstrated rolling to the side; seven (50%) kicking and six (43%) achieved upright head control. These milestones were assessed according to the Hammersmith Infant Neurological Examination Module 2 and are key secondary endpoints in the confirmatory part of Firefish.

Results from the phase III IMpower132 study of Tecentriq plus pemetrexed and platinum-based chemotherapy (cisplatin or carboplatin) for the initial (first-line) treatment of people with non-squamous NSCLC showed that Tecentriq and chemotherapy reduced the risk of disease worsening or death (progression-free survival, PFS) by 40% compared with chemotherapy. While a numerical improvement of 4.5 months for the co-primary endpoint of overall survival (OS) was observed, at this interim analysis statistical significance has not yet been met.

Roche announced the global availability of FoundationOne Liquid, a liquid biopsy test. FoundationOne Liquid can identify circulating tumour DNA in the blood of people living with cancer and can identify 70 of the most commonly mutated genes in solid tumours, including microsatellite instability, a genomic signature which may help inform cancer immunotherapy-based treatment decisions. From a single blood sample, the liquid biopsy offers a quick and convenient option for some patients with solid tumours.

Advancing personalised healthcare
Roche completed the transaction to take 100% ownership of Foundation Medicine (FMI), Inc., US, in late July 2018. A tender offer had been launched on 2 July 2018. This transaction broadens Roche’s personalised healthcare strategy and aims to further advance molecular insights and the broad availability of high-quality comprehensive genomic profiling, both key enablers for the development of new cancer treatments and optimal patient care.

Diagnostics – tools for decision support
As part of its public-private partnership with the Kenya Medical Research Institute (KEMRI), Roche installed a cobas 8800 System for state-of-the-art diagnostic testing, including HIV diagnosis, in Nairobi, Kenya. This laboratory will support local efforts in the fight against HIV/AIDS.

The cobas MTB and cobas MAI tests for use on the cobas 6800/8800 Systems have become available in countries accepting the CE Mark.

The first two Navify clinical decision support apps were launched, expanding the Navify eco-system; the Navify Clinical Trial Match and Navify Publication Search apps help oncology care teams access relevant clinical trial information and publications more effectively.

Three new next-generation sequencing (NGS) Avenio Tumor Tissue Analysis Kits (research use only) were made available globally: the Avenio Tumor Tissue Targeted Kit, Expanded Kit and Surveillance Kit. The kits, which detect all four mutation classes in solid tumours, complement Roche’s NGS ctDNA kits for oncology research.

Iovance Biotherapeutics, Inc. Announces Closing of $252 Million Common Stock Public Offering

On October 17, 2018 Iovance Biotherapeutics, Inc. (Nasdaq:IOVA) ("Iovance" or "Company"), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL) technology, reported the closing of an underwritten public offering of 25,300,000 shares of its common stock at a public offering price of $9.97 per share (Press release, Iovance Biotherapeutics, OCT 17, 2018, View Source;p=irol-newsArticle&ID=2372014 [SID1234529946]). The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are approximately $252.2 million. The shares of common stock issued and sold in the offering include 3,300,000 shares issued upon the exercise in full by the underwriter of its option to purchase additional shares at the public offering price, less the underwriting discounts and commissions.

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Iovance intends to use the proceeds from this offering to fund the expansion of its organization to support the potential commercial launch of lifileucel, to fund its commercial manufacturing capabilities and facilities, to fund its ongoing clinical trials for its current product candidates, including its on-going Phase 2 clinical trials of LN-144, TIL for the treatment of metastatic melanoma, and LN-145, TIL for the treatment of cervical and head and neck cancers, to fund its planned clinical trials for its current product candidates, including its ongoing Phase 2 clinical trial of LN-145 for the treatment of non-small cell lung cancer, or NSCLC, in collaboration with MedImmune, and its ongoing Phase 2 clinical trials of Iovance TIL as an early-line therapy alone or in combination with pembrolizumab in melanoma, head and neck cancer, and NSCLC, and for other general corporate purposes. Additional indications may be explored with the use of proceeds.

Jefferies LLC acted as sole book-running manager for the offering.

The shares of common stock described above were offered by Iovance pursuant to its shelf registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). The offering has been made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at View Source A final prospectus supplement and accompanying prospectus was filed with the SEC, copies of which may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor New York, New York, 10022, by telephone at (877) 821-7388, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Nicox Third Quarter 2018 Business Update and Financial Highlights

On October 17, 2018 Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, reported its upcoming milestones and operational highlights, as well as revenue and cash position for Nicox and its subsidiaries (the "Nicox Group") as of September 30, 2018 (Press release, NicOx, OCT 17, 2018, View Source [SID1234530253]).

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Key Upcoming Milestones
Q1 2019: Planned Investigational New Drug (IND) submission to the U.S. Food and Drug Administration (FDA) for NCX 4251 to enable a Phase 2 clinical study1 in patients with acute exacerbations of blepharitis.
Q1 2019: Expected delivery of ZERVIATETM (cetirizine ophthalmic solution), 0.24% commercial product to partner Eyevance Pharmaceuticals LLC, followed by a commercial launch in the U.S. planned for the spring 2019 allergy season.
H2 2019: Expected top-line data from the NCX 470 Phase 2 clinical study for the lowering of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension.
Third Quarter 2018 and Recent Operational Highlights
In September 2018, Nicox and Fera Pharmaceuticals amended their 2015 agreement granting Fera exclusive rights to develop and commercialize naproxcinod for the U.S. market. The development of naproxcinod will focus on an undisclosed rare disease for which Fera expects to apply for an Orphan Drug Designation from the FDA. Nicox will be eligible to potentially receive a single $40 million sales-based milestone if naproxcinod reaches $1 billion yearly sales (for any indication) in the U.S. Royalties remain at 7% of net sales of naproxcinod in the U.S. Fera remains responsible for all clinical development, manufacturing, regulatory, and commercialization activities.
In Q3 2018, our lead product candidate NCX 470, a novel second generation nitric oxide (NO)-donating prostaglandin analog entered Phase 2 clinical study to evaluate its efficacy and safety compared to latanoprost 0.005% for the lowering of IOP in patients with open-angle glaucoma or ocular hypertension and to select the optimal Phase 3 dose. The study is expected to randomize 420 patients in clinical sites across the U.S. Top-line data are expected in the second half of 2019.
Third Quarter 2018 Financial Highlights
As of September 30, 2018, the Nicox Group had cash and cash equivalents of €25.7 million as compared with €32.7 million at June 30, 2018 and €41.4 million at December 31, 2017. Net revenue2 for the third quarter of 2018 was $0.438 million, comprised exclusively of royalties on third quarter 2018 sales of VYZULTATM by global partner Bausch + Lomb, after deduction of royalty payments due by Nicox. This represents an increase of 66% in net revenue3 received by Nicox compared to the second quarter of 2018. The Nicox Group recorded no revenues for the third quarter of 2017.

Intensity Therapeutics to Present Preliminary Data from Clinical Study of INT230-6 at Upcoming Medical Conferences

On October 17, 2018 Intensity Therapeutics, Inc., a clinical-stage biotechnology company developing proprietary immune cell-activating cancer treatments, reported that preliminary data from a Phase 1/2 clinical study of INT230-6 will be presented in poster sessions at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) 2018 Congress, which is being held October 19-23 in Munich, Germany, and the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 33rd Annual Meeting, which is being held November 7-11 in Washington, DC (Press release, Intensity Therapeutics, OCT 17, 2018, View Source [SID1234530320]).
Details of the posters are below.

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ESMO 2018 Congress

Title: Phase 1/2 trial evaluation of intratumoral INT230-6 for the treatment of solid tumors

Abstract Number: 4458

Presentation Number: 1160P

Session: Poster Display Session – Immunotherapy of Cancer (SITC) (Free SITC Whitepaper)

Date/Time: October 20, 2018, 12:30 p.m. CEST

Location: Hall A3; Poster Area Networking Hub, ICM München

Presenter: Anthony El-Khoueiry, MD (University of Southern California, USA)

For more information about the ESMO (Free ESMO Whitepaper) 2018 Congress, please visit View Source

SITC Annual Meeting

Title: Phase 1/2 evaluation of intratumoral INT230-6 for the treatment of solid tumors

Poster Number: P622

Poster Hall Hours: November 9, 8 a.m.-8 p.m.; November 10, 8 a.m.-8:30 p.m. EST

Poster Presentation Hours: November 10, 12:20-1:50 p.m. and 7-8:30 p.m. EST

Poster Hall Location: Hall E; Walter E. Washington Convention Center

Presenter: Anthony Olszanski, MD, RPh (Fox Chase Cancer Center)

For more information about the SITC (Free SITC Whitepaper) Annual Meeting, please visit View Source

About INT230-6

INT230-6, Intensity’s lead product candidate designed for direct intratumoral injection, is comprised of two proven, potent anti-cancer agents and a penetration enhancer molecule that helps disperse the drugs throughout tumors and diffuse into cancer cells. INT230-6 is being evaluated in a Phase 1/2 clinical study (NCT03058289) in patients with various advanced solid tumors. In preclinical studies, INT230-6 eradicated tumors by a combination of direct tumor kill and recruitment of dendritic cells to the tumor micro-environment that induced anti-cancer T-cell activation. Treatment with INT230-6 in in vivo models of severe cancer resulted in substantial improvement in overall survival compared to standard therapies. Further, INT230-6 provided complete responder animals with long-term, durable protection from multiple re-inoculations of the initial cancer and resistance to other cancers. In mouse models, INT230-6 has shown strong synergy with checkpoint blockage, including anti-PD-1 and anti-CTLA4 antibodies. INT230-6 was discovered from Intensity’s DfuseRxSM platform.

About the Phase 1/2 Clinical Study

INT230-6 is being evaluated in a Phase 1/2 clinical study in patients with different types of advanced solid tumor malignancies. The study’s primary objective is to assess the safety and tolerability of multiple intratumoral doses of INT230-6. Secondary assessments are the measurement of injected and bystander tumor responses, and determination of the systemic pharmacokinetic profile of multiple doses of INT230-6’s drug substances after single and then multiple intratumoral injections. Exploratory analysis will characterize patient outcome, as well as evaluate various tumor and anti-tumor immune response biomarkers that may correlate with response. The study includes several adaptive components that will allow for adjustments in patient groups, dosing schedule and dose volumes administered. Data will be used to assess the progression free and overall survival in patients receiving INT230-6. For more information, please visit www.clinicaltrials.gov (NCT03058289).