PROMETIC ANNOUNCES CLOSING OF TELESTA THERAPEUTICS INC. ACQUISITION

On October 31, 2016 ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("ProMetic" or the "Corporation") reported today that it has closed the acquisition of all the issued and outstanding common shares of Telesta Therapeutics, Inc, ("Telesta") by way of a plan of arrangement under the Canada Business Corporations Act (the "Acquisition") for a consideration of $0.14 per Telesta common share payable in ProMetic common shares (Press release, ProMetic Life Sciences, OCT 31, 2016, View Source [SID1234516121]).

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The number of common shares to be issued by ProMetic is based on the volume-weighted average closing price ("VWAP") of ProMetic’s common shares for the five (5) trading days prior to the closing date of the Acquisition. At the end of trading on the Toronto Stock Exchange on Friday, October 28, 2016, the 5 day VWAP of ProMetic’s common shares was $2.98. Accordingly, each Telesta common share was acquired for 0.04698 ProMetic common share.

Pierre Laurin, President and CEO of ProMetic stated: "We welcome Telesta’s shareholders decision to participate to ProMetic’s growth as they will benefit from our ability to further leverage Telesta’s assets. ProMetic represents a balanced, low-risk, high reward opportunity as we are getting ready to launch our first plasma-derived therapeutic, plasminogen, in mid-2017 followed by the sequential launches of several other plasma-derived products from our proprietary manufacturing platform. Furthermore, our small molecule fibrosis program is set to contribute further significant upside now that PBI-4050’s efficacy in humans has been demonstrated", added Mr. Laurin.

"Closing this transaction is both strategically and tactically significant for ProMetic for many reasons", commented Bruce Pritchard, Chief Operating Officer. He added, "It brings cash which extends our operating runway; a small group of key personnel who are highly complementary to our existing staff; tax losses to be used going forward; and lastly, a facility located in Belleville, Ontario with a recently refurbished part that could add quickly to our existing manufacturing output and in the longer term, the potential to provide additional plasma processing capacity. It also widens our trans-Canadian footprint, positioning us as a major supplier of plasma proteins to the Canadian market".

Concurrently with the Acquisition, the Corporation has closed a private placement entered into with Structured Alpha LP ("SALP"), an investment vehicle of Peter J. Thomson. This concurrent private placement was completed in connection with the exercise by SALP of its pre-emptive right. The private placement is for the subscription of 1,401,632 common shares of the Corporation at a price of $2.98 per common share. The proceeds from this private placement have been used to offset and reduce the total amount owed by ProMetic to SALP under its second amended and restated loan agreement by $4,176,863.36.

Deciphera Pharmaceuticals to Present Clinical Data on Tumor Targeted Advanced Kinase Inhibitors at 28th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics

On October 31, 2016 Deciphera Pharmaceuticals, a clinical-stage biotechnology company focused on developing tumor-targeted and immuno-targeted advanced kinase inhibitors, reported that two abstracts featuring the Company’s clinical-stage tumor-targeted therapies have been selected for a late-breaking oral presentation and a poster discussion at the 28th EORTC-NCI-AACR (Free EORTC-NCI-AACR Whitepaper) Symposium on Molecular Targets and Cancer Therapeutics taking place November 29 to December 2, 2016 in Munich, Germay (Press release, Deciphera Pharmaceuticals, OCT 31, 2016, View Source [SID1234516122]).

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DCC-2618 is a pan-KIT and PDGFR kinase inhibitor in clinical development for the treatment of genetically-defined cancers, including gastrointestinal stromal tumors (GIST) and other KIT-driven cancers such as systemic mastocytosis. Altiratinib is a spectrum selective inhibitor of MET, TRK, TIE2 & VEGFR2 kinases in clinical development for the treatment of solid tumors. DCC-2618 and altiratinib are both currently in Phase 1 first-in-human studies.

"Genetically-defined cancers with specific kinase mutations, such as gastrointestinal stromal tumors and systemic mastocytosis, are ideal targets for our advanced kinase inhibitors and we look forward to sharing clinical data on DCC-2618 and altiratinib at the upcoming EORTC-NCI-AACR (Free EORTC-NCI-AACR Whitepaper) Symposium on Molecular Targets and Cancer Therapeutics," stated Michael D. Taylor, Ph.D., President and Chief Executive Officer of Deciphera Pharmaceuticals.

Late-breaking Oral Presentation:
Title: DCC-2618, a pan KIT and PDGFR switch control inhibitor, achieves proof-of-concept
in a first-in-human study
Author: Janku, F., MD Anderson Cancer Center
Abstract: 7LBA
Session: Plenary Session 6: Proffered Paper Session
Date/Time: Thursday, December 1, 2016, 4:10 p.m. (CET)

Poster Presentation:
Title: The type II switch control kinase inhibitor, DCC-2701 (altiratinib) effectively inhibits
resistant NTRK kinase domain mutants
Author: Drilon, A.
Abstract/Board: 422/P101
Session: Poster Session: Molecular targeted agents II
Date/Time: Thursday, December 1, 2016, 10:15 a.m. – 5:00 p.m. (CET)

Cellectar Biosciences Announces Design for NCI-Supported Phase II Study of CLR 131 in Multiple Myeloma and Other Hematologic Malignancies

On October 31, 2016 Cellectar Biosciences, Inc. (Nasdaq:CLRB) (the "company"), an oncology-focused, clinical stage biotechnology company, reported the study design of its Phase II clinical trial of CLR 131 in patients with relapsed or refractory multiple myeloma (MM), chronic lymphocytic lymphoma/small lymphocytic lymphoma (CLL/SLL), lymphoplasmacytic lymphoma (LPL), marginal zone lymphoma (MZL), mantle cell lymphoma (MCL), and potentially diffuse large B-cell lymphoma (DLBCL), who have been treated with standard therapy for their underlying malignancies (Filing, 8-K, Cellectar Biosciences, OCT 31, 2016, View Source [SID1234516117]). The company previously provided guidance for study initiation in the first half of 2017 and now anticipates initiating the trial during the first quarter of 2017.

The Phase II study, for which the company has received a $2 million non-dilutive grant from the National Cancer Institute, will be conducted in up to 15 centers across the United States. The company expects that all patients will receive a single dose of CLR 131 at 25.0 mCi/m2 infused over approximately 30 minutes, with the option of a second dose approximately 80-160 days later, based upon physician assessment. Concurrently, patients in the trial with MM will be receiving 40mg oral dexamethasone weekly for up to 12 weeks. The primary endpoint for the study is Objective Response Rate (ORR). Secondary endpoints include Progression-Free Survival and other measures of efficacy. In MM patients, efficacy responses will be determined according to the latest International Multiple Myeloma Working Group criteria, while in lymphomas, efficacy will be determined according to the Lugano criteria. The company anticipates initial efficacy data as early as the second half of 2017.

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"We continue to see consistently positive outcomes with CLR 131 and this study will further define its clinical benefits in a single and multi-dose regimen for the treatment of multiple myeloma, the results of which will be instrumental in the design of a pivotal trial," said Jim Caruso, president and CEO of Cellectar. "We believe CLR 131 may also provide therapeutic benefits in a number of orphan-designated hematologic cancers and we designed the Phase 2 study to optimize our understanding of the drug’s clinical utility."

In order to be eligible for the Oct. 31, 2016 (GLOBE NEWSWIRE) — Cellectar Biosciences, Inc. (Nasdaq:CLRB) (the "company"), an oncology-focused, clinical stage biotechnology company, today announces the study design of its Phase II clinical trial of CLR 131 in patients with relapsed or refractory multiple myeloma (MM), chronic lymphocytic lymphoma/small lymphocytic lymphoma (CLL/SLL), lymphoplasmacytic lymphoma (LPL), marginal zone lymphoma (MZL), mantle cell lymphoma (MCL), and potentially diffuse large B-cell lymphoma (DLBCL), who have been treated with standard therapy for their underlying malignancies. The company previously provided guidance for study initiation in the first half of 2017 and now anticipates initiating the trial during the first quarter of 2017.

The Phase II study, for which the company has received a $2 million non-dilutive grant from the National Cancer Institute, will be conducted in up to 15 centers across the United States. The company expects that all patients will receive a single dose of CLR 131 at 25.0 mCi/m2 infused over approximately 30 minutes, with the option of a second dose approximately 80-160 days later, based upon physician assessment. Concurrently, patients in the trial with MM will be receiving 40mg oral dexamethasone weekly for up to 12 weeks. The primary endpoint for the study is Objective Response Rate (ORR). Secondary endpoints include Progression-Free Survival and other measures of efficacy. In MM patients, efficacy responses will be determined according to the latest International Multiple Myeloma Working Group criteria, while in lymphomas, efficacy will be determined according to the Lugano criteria. The company anticipates initial efficacy data as early as the second half of 2017.

"We continue to see consistently positive outcomes with CLR 131 and this study will further define its clinical benefits in a single and multi-dose regimen for the treatment of multiple myeloma, the results of which will be instrumental in the design of a pivotal trial," said Jim Caruso, president and CEO of Cellectar. "We believe CLR 131 may also provide therapeutic benefits in a number of orphan-designated hematologic cancers and we designed the Phase 2 study to optimize our understanding of the drug’s clinical utility."

In order to be eligible for the study, multiple myeloma patients must have received prior treatment with a proteasome inhibitor as well as an immunomodulatory drug. Patients with lymphomas, CLL/SLL, LPL, and MZL, including patients with mucosa associated lymphoid tissue, must have received treatment with at least two prior lines of therapy. Patients with MCL require treatment with at least one prior line of therapy.

About CLR 131
CLR 131 is an investigational compound under development for a range of hematologic malignancies. It is currently being evaluated in a Phase I clinical trial in patients with relapsed or refractory multiple myeloma. The company plans to initiate a Phase II clinical study to assess efficacy in a range of B-cell malignancies in the first quarter of 2017. Based upon pre-clinical and interim Phase I study data, treatment with CLR 131 provides a novel approach to treating hematological diseases and may provide patients with therapeutic benefits, including overall response rate (ORR), an improvement in progression-free survival (PFS) and overall quality of life. CLR 131 utilizes the company’s patented PDC tumor targeting delivery platform to deliver a cytotoxic radioisotope, iodine-131, directly to tumor cells. The FDA has granted Cellectar an orphan drug designation for CLR 131 in the treatment of multiple myeloma.

About Phospholipid Drug Conjugates (PDCs)
Cellectar’s product candidates are built upon its patented cancer cell-targeting delivery and retention platform of optimized phospholipid ether-drug conjugates (PDCs). Its phospholipid ether (PLE) carrier platform was deliberately designed to be coupled with a variety of payloads to facilitate both therapeutic and diagnostic applications. The basis for selective tumor targeting of our PDC compounds lies in the differences between the plasma membranes of cancer cells compared to those of normal cells. Cancer cell membranes are highly enriched in lipid rafts, which are glycolipoprotein microdomains of the plasma membrane of cells that contain high concentrations of cholesterol and sphingolipids, and serve to organize cell surface and intracellular signaling molecules. PDCs have been tested in over 70 different xenograft models of cancer.

About Relapsed or Refractory Multiple Myeloma
Multiple myeloma is the second most common blood or hematologic cancer with approximately 30,000 new cases in the United States every year. It affects a specific type of blood cells known as plasma cells. Plasma cells are white blood cells that produce antibodies to help fight infections. While treatable for a time, multiple myeloma is incurable and almost all patients will relapse or the cancer will become resistant/refractory to current therapies.study, multiple myeloma patients must have received prior treatment with a proteasome inhibitor as well as an immunomodulatory drug. Patients with lymphomas, CLL/SLL, LPL, and MZL, including patients with mucosa associated lymphoid tissue, must have received treatment with at least two prior lines of therapy. Patients with MCL require treatment with at least one prior line of therapy.

About CLR 131
CLR 131 is an investigational compound under development for a range of hematologic malignancies. It is currently being evaluated in a Phase I clinical trial in patients with relapsed or refractory multiple myeloma. The company plans to initiate a Phase II clinical study to assess efficacy in a range of B-cell malignancies in the first quarter of 2017. Based upon pre-clinical and interim Phase I study data, treatment with CLR 131 provides a novel approach to treating hematological diseases and may provide patients with therapeutic benefits, including overall response rate (ORR), an improvement in progression-free survival (PFS) and overall quality of life. CLR 131 utilizes the company’s patented PDC tumor targeting delivery platform to deliver a cytotoxic radioisotope, iodine-131, directly to tumor cells. The FDA has granted Cellectar an orphan drug designation for CLR 131 in the treatment of multiple myeloma.

About Phospholipid Drug Conjugates (PDCs)
Cellectar’s product candidates are built upon its patented cancer cell-targeting delivery and retention platform of optimized phospholipid ether-drug conjugates (PDCs). Its phospholipid ether (PLE) carrier platform was deliberately designed to be coupled with a variety of payloads to facilitate both therapeutic and diagnostic applications. The basis for selective tumor targeting of our PDC compounds lies in the differences between the plasma membranes of cancer cells compared to those of normal cells. Cancer cell membranes are highly enriched in lipid rafts, which are glycolipoprotein microdomains of the plasma membrane of cells that contain high concentrations of cholesterol and sphingolipids, and serve to organize cell surface and intracellular signaling molecules. PDCs have been tested in over 70 different xenograft models of cancer.

About Relapsed or Refractory Multiple Myeloma
Multiple myeloma is the second most common blood or hematologic cancer with approximately 30,000 new cases in the United States every year. It affects a specific type of blood cells known as plasma cells. Plasma cells are white blood cells that produce antibodies to help fight infections. While treatable for a time, multiple myeloma is incurable and almost all patients will relapse or the cancer will become resistant/refractory to current therapies.

Mateon Announces Presentation of CA4P Posters at Meeting of the International Gynecologic Cancer Society

On October 31, 2016 Mateon Therapeutics, Inc. (Nasdaq:MATN), a biopharmaceutical company developing vascular disrupting agents (VDAs) for the treatment of orphan oncology indications, reported two poster presentations at the 16th Biennial Meeting of the International Gynecologic Cancer Society, held October 29-31 in Lisbon, Portugal (Press release, Mateon Therapeutics, OCT 31, 2016, View Source [SID1234516126]). The poster presentations highlighted previously presented data demonstrating results from the treatment of recurrent ovarian cancer with CA4P, and also provided an overview of Mateon’s Phase 2/3 FOCUS Study evaluating the addition of CA4P to current standard of care in patients with platinum-resistant ovarian cancer.

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Poster Presentations

Improved Progression-Free Survival among Women with Measurable Recurrent Ovarian Carcinoma Treated with CA4P Plus Bevacizumab: A Post-Hoc Analysis of GOG-0186I
FOCUS Study: Physician’s Choice Chemotherapy (PCC) Plus Bevacizumab and CA4P Versus PCC Plus Bevacizumab and Placebo in Platinum-Resistant Ovarian Cancer (prOC)
The first poster presentation highlighted data from post-hoc analyses from the GOG-0186I Study in patients with measurable disease. Study GOG-0186I evaluated the addition of CA4P to treatment with bevacizumab in patients with recurrent ovarian cancer. In the intent-to-treat population, as well as in a subgroup of patients with measurable disease, the addition of CA4P improved progression-free survival (PFS), including improvements in PFS of 6.2 months for patients with larger tumors. The second poster described the design of the company’s on-going FOCUS Study.

"We believe these highly positive data generated for CA4P in combination with anti-angiogenic agents demonstrate the potential for CA4P to alter the treatment landscape for ovarian cancer, and they provide us with confidence as we move our program forward," stated William D. Schwieterman, M.D., President and Chief Executive Officer of Mateon. "Our clinical investigators are excited to participate in the FOCUS Study, a phase 2/3 trial we initiated in June 2016, and we share their excitement as we look forward to the availability of key data from this study in the second half of 2017."

Foundation Medicine and Sarah Cannon Collaborate to Advance Personalized Medicine for Patients with Cancer

On October 31, 2016 Foundation Medicine, Inc. (NASDAQ:FMI) and Sarah Cannon Research Institute (Sarah Cannon) reported a collaboration focused on advancing personalized medicine utilizing molecular information for patients across Sarah Cannon’s cancer programs in the United States (Press release, Foundation Medicine, OCT 31, 2016, View Source [SID1234516142]). The organizations will gather results from Foundation Medicine’s full suite of comprehensive genomic profiling (CGP) assays to personalize treatment options for patients and to ultimately support improved outcomes.

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Sarah Cannon is one of the world’s leading clinical research organizations conducting community-based clinical trials across a global network. Researchers can use Foundation Medicine’s CGP assays, FoundationOne for use with solid tumors, FoundationOne Heme for use with hematologic malignancies and FoundationACT for use as a liquid biopsy, to identify eligible patients for participation in Sarah Cannon’s clinical studies. Foundation Medicine’s CGP assays aid treating physicians and researchers to more effectively screen and match patients to early and late-phase clinical trials based on their genomic information. Sarah Cannon will also integrate Interactive Cancer Explorer, Foundation Medicine’s physician facing decision support portal, across its network to facilitate clinico-genomic knowledge among researchers and to enhance patient access to precision therapeutics.

Additionally, Sarah Cannon and Foundation Medicine have entered into a master research program agreement to collaborate on the development of research studies, as well as clinical programs designed to evaluate and establish the most appropriate use of Foundation Medicine’s assays into clinical care pathways.

"Our physicians are at the forefront of clinical research through our work with novel investigative therapies," said Howard A. "Skip" Burris, M.D., president, clinical operations and chief medical officer, Sarah Cannon. "Clinical trials, particularly those where patients can be molecularly matched to a study, are an integral part of effectively treating many types of cancers and accelerating patient access to novel therapies. We’re excited to collaborate with Foundation Medicine as we continue to enhance access to molecular information, which helps improve clinical care and inform research across our network."

Sarah Cannon and Foundation Medicine will also work together to develop training and educational programs that support the advancement of personalized medicine, including work with Sarah Cannon’s Nurse Navigator Program, a high-touch, personalized support program that enables nurses to comprehensively manage a patient’s experience with cancer.

"Precision medicine in cancer can be achieved by innovating new ideas that accelerate patient access to novel compounds in development," said Steven Kafka, president and chief operating officer for Foundation Medicine. "Together with Sarah Cannon, we believe we are in a unique position to eliminate roadblocks to patient access, to integrate genomics knowledge into clinical pathways and to extend that knowledge across the cancer care continuum to accelerate research and drive better outcomes for all patients."