Cellectar Biosciences Granted Orphan Drug Designation for CLR 131 to Treat Neuroblastoma

On March 19, 2018 Cellectar Biosciences (Nasdaq: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, reported that the U.S. Food and Drug Administration (FDA) Office of Orphan Products Development has granted Orphan Drug Designation to CLR 131, the company’s lead Phospholipid Drug Conjugate (PDC) product candidate, for the treatment of neuroblastoma, a rare pediatric cancer (Press release, Cellectar Biosciences, MAR 19, 2018, View Source [SID1234524884]).

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"Neuroblastoma is the third most common childhood cancer for which there are currently no approved treatments for children with relapsed or refractory disease," stated John Friend, M.D., chief medical officer of Cellectar. "The FDA’s granting of orphan drug designation for CLR 131 highlights the significant need for new treatments for children with neuroblastoma, and we believe that the targeted delivery of CLR 131 represents a promising novel approach to its treatment."

Orphan drug designation provides seven year market exclusivity benefit, increased engagement and assistance from the FDA, tax credits for certain research, research grants and a waiver of the New Drug Application user fee. Neuroblastoma is recognized by the FDA as an orphan disease, usually defined as a condition that affects fewer than 200,000 people nationwide.

The FDA previously accepted the Company’s Investigational New Drug application for a Phase 1 open-label, dose-escalating study to evaluate the safety and tolerability of a single intravenous administration of CLR 131 in up to 30 children and adolescents with cancers including neuroblastoma, sarcomas, lymphomas (including Hodgkin’s lymphoma) and malignant brain tumors. Cellectar expects to initiate this study during the second quarter of 2018.

10-K – Annual report [Section 13 and 15(d), not S-K Item 405]

Apellis Pharmaceuticals has filed a 10-K – Annual report [Section 13 and 15(d), not S-K Item 405] with the U.S. Securities and Exchange Commission (Filing, 10-K, Apellis Pharmaceuticals, 2018, MAR 19, 2018, View Source [SID1234527578]).

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Diplomat to Present at 2018 Needham & Company Healthcare Conference

On March 19, 2018 – Diplomat Pharmacy Inc. (NYSE: DPLO)reported that it will participate in Needham & Company’s 17th annual healthcare conference in New York City (Press release, Diplomat Speciality Pharmacy, MAR 19, 2018, View Source;Company-Healthcare-Conference/default.aspx [SID1234524887]).

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Diplomat Specialty Pharmacy (PRNewsFoto/Diplomat Pharmacy, Inc.)

Interim CEO Jeff Park and Chief Financial Officer Atul Kavthekar are scheduled to present at 11:30 a.m. ET Wednesday, March 28.

Live audio-only webcasts of the presentation and related materials will be available on the investor relations section of Diplomat’s website at ir.diplomat.is. The webcast and presentation materials will be online for 90 days.

Leap Therapeutics Provides DKN-01 Program Update and Announces Scientific Presentations at AACR Annual Meeting

On March 14, 2018 Leap Therapeutics, Inc. (NASDAQ:LPTX), a biotechnology company developing targeted and immuno-oncology therapeutics, reported its presented promising clinical data from the study evaluating DKN-01, Leap’s anti-DKK1 monoclonal antibody, as a monotherapy in patients with advanced esophagogastric cancer (Press release, Leap Therapeutics, MAR 19, 2018, View Source [SID1234524889]). In addition, Leap announced that the first patient has been enrolled in the study evaluating DKN-01 in patients with gynecological cancers. Leap also announced two upcoming scientific presentations at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) 2018 Annual Meeting.

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DKN-01 Monotherapy in Patients with Esophagogastric Cancer
Data presented today at the Barclays Global Healthcare Conference included 16 patients with advanced esophagogastric cancer who were treated with DKN-01 monotherapy. Central imaging review identified two patients (12.5%) with a best response of a partial response and five patients (31.3%) with stable disease, representing a total disease control rate of 43.8%. This cohort of patients had received many different lines of prior therapy. One patient who had failed prior investigational immunotherapies, including a PD-L1 antagonist and IDO inhibitor, had a partial response on DKN-01 monotherapy and remained on study for over a year.

"The results of the DKN-01 monotherapy cohort demonstrate promising single agent activity in a very difficult to treat population of heterogeneous esophagogastric cancer. This data, in addition to the encouraging activity we have seen with DKN-01 in preclinical models and in patients in combination with chemotherapy, provides a strong foundation for our ongoing study in combination with the anti-PD-1 therapy Keytruda," commented Cynthia Sirard, MD, Vice President of Clinical Development for Leap.

DKN-01 Gynecologic Malignancies Study

Leap also announced that the first patient has been dosed in a Phase 2 clinical trial evaluating DKN-01 as a monotherapy and in combination with paclitaxel chemotherapy in patients with advanced endometrioid gynecologic malignancies. The study is part of Leap’s strategy to treat cancer patients with documented mutations of the Wnt signaling pathway, a biomarker identified in patients who have responded to DKN-01 therapy. Data presented today by Leap demonstrates that uterine cancer patients with these mutations often have elevated intratumoral levels of DKK1.

"Mutations of the Wnt pathway, particularly beta-catenin, are highly prevalent in endometrioid gynecologic cancers, and often thought to be a driver of an aggressive subgroup of the disease," commented Michael Birrer, M.D., Ph.D., Director of the Comprehensive Cancer Center at the University of Alabama at Birmingham and an investigator on the study. "We are excited to begin this trial of DKN-01, which has shown promising activity in patients with Wnt signaling mutations in other solid tumor malignancies."

The study is a Phase 2 basket study evaluating DKN-01 as a monotherapy and in combination with paclitaxel in patients with relapsed/refractory endometrioid endometrial cancer (EEC) or endometrioid ovarian cancer (EOC). The study contains four groups and is designed to evaluate the efficacy, safety, and pharmacodynamics of DKN-01 monotherapy and combination therapy in both EEC and EOC, with each group following a 2-stage Simon Minimax design. The study will enroll approximately 94 patients, of which ~ 50% will be required to have documented activating mutations of beta-catenin or other Wnt signaling alterations.

Upcoming Presentation at AACR (Free AACR Whitepaper) Annual Meeting
Additionally, Leap announced two poster session presentations at the AACR (Free AACR Whitepaper) Annual Meeting, being held April 14 – 18, 2018, in Chicago, IL.

Abstract Number and Title: 1710 / 5 – DKN-01, a therapeutic DKK1 neutralizing antibody, has immune modulatory activity in nonclinical tumor models

Session Title: Immune Response to Therapies 2

Session Date and Time: April 16, 2018, 8:00 AM – 12:00 PM

Session Location: McCormick Place, Poster Section 32

Abstract Number and Title: 1699 / 24 – Treatment with agonist anti-GITR antibody after chemotherapy enhances tumor immunity

Session Title: Immune Checkpoints 1

Session Date and Time: April 16, 2018, 8:00 AM – 12:00 PM

Session Location: McCormick Place, Poster Section 31

LabCorp Completes Acquisition of Covance

On March 19, 2018 Laboratory Corporation of America Holdings (LabCorp) (NYSE: LH) reported the completion of its acquisition of Covance Inc., following its entry into a definitive purchase agreement on November 2, 2014 (Press release, LabCorp, MAR 19, 2018, View Source [SID1234524829]). At closing, the purchase consideration was valued at $107.19 per Covance share, consisting of $75.76 in cash and 0.2686 LabCorp shares for each Covance share, or an equity value of approximately $6.2 billion and an enterprise value of approximately $5.7 billion. This combination creates the world’s leading healthcare diagnostics company, providing comprehensive clinical laboratory services and end-to-end solutions for drug and diagnostics development and commercialization.

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"We are excited to bring two industry leaders together to provide a unique and complete set of services that will benefit all healthcare stakeholders," said David P. King, Chairman and Chief Executive Officer of LabCorp. "Our complementary services and capabilities will enable us to pursue multiple strategic opportunities in both the clinical laboratory and drug development businesses. Through this combination, we expect to achieve significant revenue growth and generate strong cash flows, allowing us to further invest in our business, fund future expansion and create value for our shareholders."

Mr. King added, "I have worked closely with the Covance team since November and am impressed with their talents and scientific expertise. Combined with the enormously talented people of LabCorp, we will employ our capabilities to enhance drug development, diagnostic services and the delivery of healthcare to better address the system’s demand for improved outcomes at lower costs."

The combined company’s headquarters are located in Burlington, North Carolina. Covance Drug Development will continue to operate under the Covance name, with its headquarters in Princeton, New Jersey.

The closing of the transaction follows the receipt of all necessary regulatory requirements and approval of the transaction by Covance shareholders on February 18, 2015. With the closing of the transaction, Covance common stock will cease trading and will no longer be listed on the NYSE.