On October 23, 2017 ADC Therapeutics (ADCT), an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, reported that it has raised $200 million through a private placement (Press release, ADC Therapeutics, OCT 23, 2017, View Source [SID1234521080]). The financing was oversubscribed and supported by both existing and new investors, including Auven Therapeutics, Redmile, the Wild Family Office and AstraZeneca.

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The proceeds will be used to progress ADCT-301 and ADCT-402 into planned registrational trials in 2018. Both candidates are currently in four clinical studies in important sub-types of lymphoma and leukemia. ADCT will also advance ADCT-301 into a combination study for solid tumors. Further it will allow the Company to continue the development of the Phase I study of ADCT-502 in patients with advanced solid tumors with HER2 expression, to file INDs for ADCT-602 and ADCT-601, and to progress a pipeline of pre-clinical ADC programs. ADCT expects to have a total of eight programs in clinical development within 18 months.

Dr. Chris Martin, CEO of ADCT, said: "With more than 250 patients dosed, and encouraging data to be presented at the upcoming congress of the American Society of Hematology (ASH) (Free ASH Whitepaper), this financing is a key step in our strategy and will enable us to accelerate our lead programs and to continue to develop our pipeline. This transaction also reflects the potential value to patients of rapidly developing these active drugs as stand alone and combination therapies. We continue to grow our pipeline of proprietary antibody-drug conjugates in important hematological and solid tumor indications both on our own and in partnerships."

ADCT is focused on the development of proprietary ADCs incorporating highly potent pyrrolobenzodiazepine (PBD)-based warheads. ADCT’s clinical and preclinical programs target major types of both hematological malignancies and solid tumours. Since inception in 2012, the Company has raised $455 million to advance its pipeline of proprietary ADCs. The Company has four PBD-based antibody drug conjugates in six ongoing Phase Ia and Ib clinical trials in the USA and in Europe.

On October 23, 2017 OncoSec Medical Incorporated ("OncoSec") (NASDAQ: ONCS), a company developing DNA-based intratumoral cancer immunotherapies, reported that it has entered into definitive purchase agreements with certain accredited investors to purchase 5,270,934 shares of its common stock, at a purchase price per share of $1.34375 in a registered direct offering priced at the market (Press release, OncoSec Medical, OCT 23, 2017, View Source [SID1234521081]). Additionally, OncoSec has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 3,953,200 shares of common stock at an exercise price of $1.25 per share for a term of 5.5 years. The warrants are immediately exercisable on the date of issuance. The offering is expected to close on or about October 25, 2017, subject to the satisfaction of customary closing conditions.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds of the offering are expected to be approximately $7.1 million. Net proceeds, after deducting the placement agent’s fee and other estimated offering expenses payable by OncoSec, are expected to be approximately $6.2 million. OncoSec intends to use the net proceeds from this offering for working capital and general corporate purposes, including primarily for the PISCES/KEYNOTE-695 study, and for other clinical, research and development activities.

The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 that was filed and declared effective by the Securities and Exchange Commission ("SEC") and the base prospectus contained therein (File No. 333- 213036). The offering of the shares of common stock will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

A prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the SEC. Copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 4th Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected].

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

On October 23, 2017 Prometic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("Prometic") reported that it has entered into a binding letter of intent to secure a USD $80 million (CAD $100 million) line of credit (the "Credit Facility") from Structured Alpha LP ("SALP"), an affiliate of Peter J. Thomson’s investment firm, Thomvest Asset Management Inc (Press release, ProMetic Life Sciences, OCT 23, 2017, View Source [SID1234521278]). The first two tranches can be drawn within fifteen days of closing, with each additional tranche becoming available on a monthly basis thereafter. Any amount drawn from the Credit Facility will bear interest of 8.5% per annum and will be repayable within two years from the entering into the Credit Facility.

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Stefan Clulow, Managing Director and Chief Investment Officer of Thomvest Asset Management Inc. said, "We are pleased to extend this Credit Facility to the company, at what is clearly a pivotal time. Prometic is on the cusp of delivering against several key milestones, and this drawdown facility is designed to provide a flexible bridge to those events".

"The scale and structure of this facility provides us with significant operational and financial flexibility to continue with our ongoing negotiations to monetize certain corporate assets. Furthermore, the existing strong relationship with Thomvest allows us to leverage our current security package to its full effect", said Mr. Pierre Laurin, Prometic’s President and Chief Executive Officer. "The flexibility provided by this Credit Facility also means the company can draw only when required which allows our team to focus on closing value-enhancing initiatives and create significant enterprise value for Prometic and its stakeholders".

Commenting on the transaction, Mr. Bruce Pritchard, Prometic’s Chief Operating Officer and Chief Financial Officer added, "We are confident that by securing this credit facility, the company now has the means to fund itself, with limited dilution to existing shareholders, to the point where it will see revenues flowing from its sales of plasminogen (RyplazimTM), as well as from asset monetization events".

As partial consideration for establishing the Credit Facility, Prometic will grant Structured Alpha LP an initial 10 million warrants with an exercise price of CAD $1.70 per common share with a term expiring June 30, 2026, alongside an additional 44 million warrants at the same exercise price and term, which will vest in tranches each time Prometic draws an additional amount of USD $10 million (CAD $12.5 million) under the Credit Facility. Drawing on the first 4 tranches of USD $10 million (CAD $12.5 million) would each cause 5 million warrants to vest, whereas the drawing on the second set of 4 tranches of USD $10 million (CDN $12.5 million) would each cause 6 million warrants to vest. The entering into of the Credit Facility is subject to Prometic obtaining TSX approval and finalizing the definitive documentation, which the parties expect to achieve on or about November 30, 2017.

Den 20 oktober, 2017 rapporterade Xspray Pharma att de har fått godkännande för ett sökt patent i USA. Patentet omfattar komposition avseende produktkandidaten HyNap-Dasa (Press release, Xspray, OCT 20, 2017, View Source [SID1234523284]). Det är Xsprays första produktpatent som godkänns på huvudmarknaden i USA. Bolaget har tidigare offentliggjort ett patentgodkännande i Japan och har pågående ansökningsärenden för motsvarande patent i USA, Japan och Europa..

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"Att vi nu får patent beviljat på vår viktigaste marknad bekräftar vårt innovativa arbete samt förbättrar vår kommande förhandlingsposition med tilltänkta partners." säger Per Andersson, vd för Xspray Pharma.

Xspray Pharma har erhållit godkännande ("notice of allowance") för ett patent i USA avseende produktkandidaten HyNap-Dasa som är tänkt för behandling av vissa cancerformer. Det är det första produktrelaterade patentet som beviljas för bolagets produktkandidat på den viktigaste marknaden, USA. Beskedet kommer i enlighet med bolagets plan att söka och erhålla patent för komposition och metod för samtliga tre produktkandidater under utveckling på de tre viktigaste marknaderna, USA, Europa och Japan.

"Vi satsar primärt på att lansera våra produktkandidater på den amerikanska marknaden. En väl fungerande patentstrategi fyller en viktig funktion och det här godkännandet visar att vi har en sådan", kommenterar Xsprays vd Per Andersson.

Xspray Pharmas aktier introducerades den 28 september på Nasdaq First North, efter en lyckosamt genomförd nyemission som tillförde bolaget 132 miljoner kronor före emissionskostnader. Planen är nu att använda kapitalet för att utveckla tre produktkandidater och blivande cancerläkemedel baserade på bolagets egenutvecklade teknologi, samt att introducera de första produkterna på den amerikanska marknaden under perioden 2020-2023.

On October 19, 2017 RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company primarily focused on late clinical-stage development and commercialization of proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, reported a planned poster presentation relating to the active metabolite of MESUPRON, WX-UK1, at the 2017 AACR (Free AACR Whitepaper)-NCI-EORTC Molecular Targets and Cancer Therapeutics Conference, on Sunday, October 29, 2017, from 12:30 – 4:00 PM, at the Pennsylvania Convention Center in Philadelphia, PA (Press release, RedHill Biopharma, OCT 19, 2017, View Source [SID1234521042]).

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MESUPRON is a proprietary, first-in-class, orally-administered protease inhibitor, with several potential mechanisms of action to inhibit tumor invasion and metastasis. MESUPRON presents a new, non-cytotoxic approach to cancer therapy and potentially to additional inflammatory gastrointestinal diseases, such as diarrhea-predominant irritable bowel syndrome (IBS-D), pancreatitis and inflammatory bowel disease (IBD).

The poster1, entitled ‘New potential therapeutic applications of WX-UK1 as a specific and potent inhibitor of human trypsin-2 and human trypsin-3′, was authored by scientists from the Department of Molecular Biology and Genetics of Aarhus University in collaboration with RedHill Biopharma. The abstract presents data from non-clinical studies, concluding that WX-UK1 is a potent and rather specific inhibitor of human trypsin-2 and human trypsin-3, suggesting new potential therapeutic applications of WX-UK1 in oncology and inflammatory gastrointestinal diseases.

RedHill acquired the exclusive worldwide development and commercialization rights to MESUPRON, excluding China, Hong Kong, Taiwan and Macao, from Germany’s WILEX AG for all indications. WILEX AG completed several clinical studies with MESUPRON for different indications, including two Phase II proof-of-concept studies, one for pancreatic cancer and one for metastatic breast cancer.

RedHill has an ongoing research collaboration agreement with the Department of Molecular Biology and Genetics of Aarhus University in Denmark for the evaluation of MESUPRON. The non-clinical studies with MESUPRON are intended to support the clinical data from previous Phase I and Phase II studies, and may allow RedHill to take a precision medicine approach going forward. Further evaluation of MESUPRON, together with Aarhus University, may allow for selection of appropriate subpopulations of patients toward demonstrating the activity of MESUPRON in planned clinical trials.

About MESUPRON:
MESUPRON is a proprietary, first-in-class, orally-administered potent protease inhibitor of human trypsin-2 and human trypsin-3, targeting pancreatic cancer and inflammatory gastrointestinal diseases. Protease inhibitors have been shown to play key roles in tumor invasion and the metastasis process. High levels of certain proteases are associated with poor prognosis in various solid tumor cancers, such as pancreatic, gastric, breast and prostate cancers. MESUPRON presents a promising new non-cytotoxic approach to cancer therapy with several potential mechanisms of action to inhibit both tumor metastasis and growth. MESUPRON has undergone several Phase I studies and two Phase II proof-of-concept studies. The first Phase II study was in locally-advanced, unresectable pancreatic cancer and the second study in metastatic breast cancer in combination with first-line chemotherapeutic agents. RedHill received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a new patent covering the use of MESUPRON and RedHill’s Phase II-stage investigational compound, YELIVA, in combination with a known antibiotic, for hard-to-treat cancers.