On November 1, 2017 Verseon reported that it will present preclinical data on its novel anticancer drug candidates, which have shown promising results in preliminary testing against tumor cell lines resistant to major chemotherapy agents. The results will be shown at the BIO-Europe conference held in Berlin from November 6–8, 2017 (Press release, Verseon, OCT 31, 2017, View Source [SID1234521459]).

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Cancer still remains a primary concern with almost 1.7 million people in the US newly diagnosed with some form of cancer in 2016. Currently, chemotherapy is essential to the treatment of most cancers. However, tumors in many patients become resistant to chemotherapy agents over time, limiting the effectiveness of available drugs.

Dr. Anirban Datta, Verseon’s Director of Discovery Biology, will present the first preclinical results on a new class of anticancer agents, which are potent against a range of cancer cell lines in cell-based assays. In particular, he will highlight the effectiveness of these new drug candidates against cancer cell lines resistant to established chemotherapy agents.

“We are really excited about these results as they show that our novel chemotherapy agents are largely unaffected by mechanisms of multidrug resistance. This fills an important need for the treatment of many cancers, especially for patients with recurrent solid tumors,” said Dr. Datta.

Verseon uses its innovative computer-driven drug discovery platform to generate new drug candidates for a variety of indications. This platform provides access to many more drug-like molecules than are available to conventional pharmaceutical companies. Verseon currently has active programs in anticoagulation, diabetic macular edema, hereditary angioedema, and oncology.

Details of the presentation are as follows:

Date: Tuesday, November 7, 2017

Time: 5:15 PM

Location: CityCube Berlin, Room M3 on Level 3

BioMarin has filed a 10-Q – Quarterly report [Sections 13 or 15(d)] with the U.S. Securities and Exchange Commission (Filing, 10-Q, BioMarin, 2017, OCT 31, 2017, View Source [SID1234521360]).

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On October 31, 2017 Mitsubishi Tanabe Pharma presented financial results for FY2017 (Press release, Mitsubishi Tanabe Pharma, OCT 31, 2017, View Source [SID1234521374]).

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Aduro Biotech has filed a 10-Q – Quarterly report [Sections 13 or 15(d)] with the U.S. Securities and Exchange Commission (Filing, 10-Q, Aduro Biotech, 2017, OCT 31, 2017, View Source [SID1234521363]).

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On October 31, 2017 Amgen (NASDAQ:AMGN) reported that Amgen and Kirin Holdings (Kirin) have agreed that Kirin-Amgen, a joint venture between the two companies, will redeem Kirin’s shares in the joint venture and, as a result, Kirin-Amgen will become a wholly-owned subsidiary of Amgen (Press release, Amgen, OCT 31, 2017, View Source;p=RssLanding&cat=news&id=2312655 [SID1234521324]).

Kirin-Amgen was established in 1984 as a 50-50 joint venture between Amgen and Kirin to fund the global development of EPOGEN (epoetin alfa). Over time, the scope of the collaboration was expanded to include NEUPOGEN (filgrastim), Neulasta (pegfilgrastim), Aranesp (darbepoetin alfa), Nplate (romiplostim) and brodalumab. Kirin-Amgen holds the intellectual property for each of these products and, in exchange for royalty rights, licensed the associated marketing rights in certain Asian countries to Kyowa Hakko Kirin (KHK), Kirin’s pharmaceutical subsidiary, and in other territories to Amgen.

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"Our historic partnership with Kirin played a pivotal role in the growth of Amgen from a small, venture-backed start-up to one of the world’s largest biotechnology companies," said Robert A. Bradway, chairman and chief executive officer at Amgen. "I would like to thank Kirin for more than three decades of partnership, which has enabled us to reach patients suffering from serious illness around the world with meaningful therapies. We look forward to continuing what has been Amgen’s longest-running collaboration through our ongoing relationship with KHK."

Under the terms of the agreement, the Kirin-Amgen joint venture will pay $780 million to Kirin. Amgen will make additional payments to Kirin upon the occurrence of certain sales (valued by Amgen at approximately $30 million). As sole shareholder of Kirin-Amgen, Amgen will own the product rights and remaining cash held by Kirin-Amgen. License agreements between Kirin-Amgen and KHK in certain Asian territories will remain in place. The transaction will be effective upon the fulfillment or waiver of certain conditions contained in the agreement, including the receipt of all necessary approvals from governmental authorities. The transaction is expected to close during either the fourth quarter of 2017 or the first quarter of 2018.

Goldman Sachs & Co. LLC is acting as exclusive financial advisor to Amgen in connection with this transaction.