BriaCell Presents Phase 3 Clinical Biomarker Data at ESMO 2025

On October 20, 2025 BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW, BCTXZ) (TSX: BCT) ("BriaCell" or the "Company"), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, reported encouraging clinical biomarker data in its ongoing pivotal Phase 3 study of Bria-IMT plus an immune check point inhibitor (CPI) in metastatic breast cancer. The findings are being presented in BriaCell’s poster presentation at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2025 Annual Meeting taking place October 17 – 21, 2025 in Berlin, Germany. The Phase 3 data shown is for all patients evaluated regardless of treatment assignment (i.e. is blinded).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are encouraged by the early constructive clinical biomarker data which could allow us to predict clinical and survival outcomes in our patients and would help guide treatment decisions for metastatic breast cancer patients with limited options," stated Dr. William V. Williams, BriaCell’s President and CEO.

Poster #3928: Feasibility and Biomarker Validation of an International Randomized Phase 3 Trial of Bria-IMT Cell Therapy in Late Stage MBC (BRIA-ABC)

In BriaCell’s pivotal Phase 3 study of Bria-IMT plus an immune check point inhibitor (CPI) in metastatic breast cancer, patients are randomized 1:1:1 to Bria-IMT + CPI, Treatment of Physician’s Choice, or Bria-IMT monotherapy. As of the time of the poster submission, pooled data was available in 113 patients, with a median of 6 prior lines of treatment (2–13). Evaluable only pertains to imaging. All 113 are evaluated for safety, PFS, etc.

As reported in the Phase 2 study , Neutrophil to Lymphocyte Ratio (NLR) continues to be a potential biomarker of clinical benefit as progression free survival (PFS) was significantly higher in patients with NLR of 0.7 – 2.3 (4.5 months) vs those with NLR < 0.7 or > 2.3 (2.5 months) {(HR) of 0.5 (95% CI 0.3–0.8, p=0.005)}.

In the Phase 3 study, PFS data comparing BriaCell’s Bria-IMT combination regimen versus those treated with physician’s choice remains blinded at this time. Bria-IMT has been well tolerated in the Phase 3 study with no treatment-related discontinuations due to adverse events (AEs). The most common AEs are minor, including fatigue, anemia, and nausea.

About BriaCell’s Pivotal Phase 3 Clinical Study of Bria-IMT Combination Regimen in MBC patients

BriaCell’s pivotal Phase 3 study of Bria-IMT plus an immune check point inhibitor (CPI) in metastatic breast cancer is ongoing.

Interim data will be analyzed once 144 patient events (deaths) occur, comparing the overall survival (OS) in patients treated with the Bria-IMT combination regimen versus those treated with physician’s choice as the primary endpoint. Positive results of the pivotal Phase 3 study could result in full approval and marketing authorization for Bria-IMT in MBC patients. BriaCell reported positive Phase 2 survival data in a similar MBC patient population treated with the same Bria-IMT combination regimen . The Bria-IMT combination regimen has received FDA Fast Track designation.

For additional information on BriaCell’s pivotal Phase 3 study of Bria-IMT and an immune check point inhibitor in metastatic breast cancer, please visit ClinicalTrials.gov NCT06072612 .

A copy of the poster presentation is posted on View Source

(Press release, BriaCell Therapeutics, OCT 20, 2025, View Source [SID1234656936])

Alphamab Oncology Presented Multiple Clinical Data on Biparatopic HER2-targeting ADC JSKN003 at ESMO Congress 2025

On October 20, 2025 Alphamab Oncology (stock code: 9966.HK) reported that two latest clinical data on biparatopic HER2-targeting antibody-drug conjugate (ADC) JSKN003 for the treatment of primary platinum-refractory ovarian cancer (OC) and HER2-positive metastatic colorectal cancer (mCRC), along with the confirmatory study design of the phase III study of JSKN003 versus physician’s choice of chemotherapy in platinum-resistant ovarian cancer (PROC) were presented as posters at the 2025 European Society for Medical Oncology Congress (ESMO Congress 2025) from October 17 to 21, 2025, in Berlin, Germany (Press release, Alphamab, OCT 20, 2025, View Source [SID1234656988]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Title: Biparatopic anti-HER2 antibody drug conjugate (ADC) JSKN003 in the treatment of primary platinum-refractory ovarian cancer (OC)
Presentation Number: 1079P
Onsite Poster display date: Saturday, 18 October 2025
First author: Xiaohua Wu, Fudan University Shanghai Cancer Center
Speaker: Jiajia Li, Fudan University Shanghai Cancer Center

METHODS

Therapies represented by ADCs have made certain progress in treating platinum-resistant ovarian cancer (PROC), but not for primary platinum-refractory disease (defined as disease that progressed within 3 months after the last dose of first-line platinum-containing therapy) that were excluded from most of trials. Novel therapeutic options are urgently needed for this patient population with poorer prognosis compared to those who are not primary platinum-refractory. JSKN003-102 (NCT05744427) is a phase I/II trial conducted in China, enrolling patients with advanced solid tumors to receive JSKN003 monotherapy. The findings of JSKN003 in treating patients with primary platinum-refractory OC were reported at this ESMO (Free ESMO Whitepaper) Congress.

RESULTS

As of June 13, 2025, a total of 26 patients with primary platinum-refractory OC were enrolled and received JSKN003 at 6.3 mg/kg every three weeks. The median age was 54 years, with 80.8% of them having ECOG PS 1. Among the patients, 15 patients were HER2-negative (IHC 0), 8 had HER2 expression (IHC 1+/2+/3+), with only one being IHC 3+), and 3 patients had no tumor sample available for assessment. All patients had prior treatments, of whom 84.6% had previously been treated with bevacizumab, 26.9% had received PARP inhibitors, and 57.7% had undergone two or more lines of systemic anti-tumor therapies. Additionally, 38.5% of the patients had liver metastases, while 26.9% had lung metastases.

Efficacy: As of June 13, 2025, 25 patients were efficacy evaluable. The overall response rate (ORR) was 32.0%, the disease control rate (DCR) was 72.0%, the median progression-free survival (PFS) was 4.1 months, and the 9-month overall survival (OS) rate was 65.4%. Efficacy was observed across different HER2 expression subgroups.

Safety: Grade 3 or above treatment related adverse events (TRAE) occurred in 15.4% of patients. Serious TRAEs were reported in 1 patient (3.8%). No TRAE led to death. Interstitial lung disease (ILD) was observed in 2 patients and both were Grade 1.

CONCLUSIONS

JSKN003 demonstrated promising efficacy and tolerability in patients with primary platinum-refractory OC who have limited treatment options. Efficacy was observed across different HER2 expression subgroups, offering new hope for this patient population.

Title: Efficacy and Safety of JSKN003, a Biparatopic anti-HER2 Antibody Drug Conjugate (ADC), in Patients with HER2-positive Metastatic Colorectal Cancer (mCRC)
Presentation Number: 806P
Onsite Poster display date: Sunday, 19 October 2025
First author & Speaker: Dan Liu, Peking University Cancer Hospital and Institute

METHODS

JSKN003-102 (NCT05744427) is a phase I (dose escalation and expansion) and phase II (cohort expansion) clinical study in Chinese patients with advanced/metastatic solid tumors. The efficacy and safety data of JSKN003 in HER2-positive (IHC 3+ or 2+/FISH+) mCRC patients were reported at this ESMO (Free ESMO Whitepaper) Congress.

RESULTS

As of June 30, 2025, a total of 33 patients with HER2-positive mCRC were enrolled and received JSKN003 every three weeks across 2 dose levels, among which 32 patients at the dose 6.3 mg/kg and 1 patient at the dose of 8.4 mg/kg. 69.7% of enrolled patients were male with a median age of 59 (range, 30-69). All enrolled patients were stage IV at screening and 54.5% with liver metastases. 5 (15.2%) patients harbored RAS/RAF mutations, including 1 case of BRAF V600E mutation. All patients were heavily pretreated, and 42.4% had received three or more lines of prior anti-tumor treatments.

Efficacy: 32 patients were efficacy evaluable. The ORR was 68.8%, the DCR was 96.9%. Additionally, among 31 BRAF V600E wild-type patients, the ORR was 71.0%, the DCR was 100%, and median duration of response (DoR) was 9.89 months (95%CI, 5.78 to NE), the median PFS achieved 11.04 months (95%CI, 6.9 to 14.03), with a 9-month PFS rate of 66.6%.

Safety: The median follow-up time was 9.26 months (95%CI: 5.82, 12.35). 7 patients (21.2%) experienced Grade 3 or above TRAEs. There were no TRAEs led to discontinuation or death. Overall, the most common TRAEs were diarrhea and nausea, most of which were Grade 1-2. ILD was reported in 4 patients (12.1%), which were Grade 1-2.

CONCLUSIONS

JSKN003 demonstrated promising efficacy in heavily pretreated HER2-positive CRC with a manageable and predictable safety profile. The biparatopic HER2 antibody design may enhance target binding and contribute to the observed clinical benefit.

Title: Phase III study of JSKN003, a biparatopic anti-HER2 antibody-drug conjugate (ADC), versus physician’s choice of chemotherapy in platinum-resistant ovarian cancer (PROC): JSKN003-306
Presentation Number: 1219TiP
Onsite Poster display date: Saturday, 18 October 2025
First author & Speaker: Lingying Wu, Cancer Hospital Chinese Academy of Medical Sciences

BACKGROUND

Platinum-resistant ovarian cancer (PROC) is known for low efficacy to non-platinum single-agent chemotherapy with or without bevacizumab, the standard-of-care (SOC), with an ORR of 15%, a PFS of 3 months, and an OS of 12 months, posing a significant therapeutic challenge.

Results from the Phase I clinical study JSKN003-101 (NCT05494918) in Australia and the Phase I/II clinical study JSKN003-102 (NCT05744427) in China have demonstrated promising efficacy of JSKN003 monotherapy in PROC. Detailed data were presented at the 2024 ESMO (Free ESMO Whitepaper) Congress for the first time and subsequently updated at the 2025 Annual Meeting of American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper). As of February 28, 2025, 46 PROC patients were enrolled and received JSKN003 every three weeks. In 46 efficacy-evaluable patients, 45.7% were HER2 no-expressing (IHC 0). 91.3% of patients exhibited tumor shrinkage, the ORR was 63.0%, the median PFS was 7.7 months and the 9-month OS rate was 89.9%. In HER2 expressing (IHC 1+/2+/3+) patients, the ORR and median PFS were 72.2% and 9.4 months, respectively.

Based on the pooled analysis of the two clinical studies, JSKN003 monotherapy has been granted breakthrough therapy designation for the treatment of PROC by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA). So far, JSKN003 is the only anti-HER2 ADC to receive this designation without HER2 expression restrictions.

STUDY DESIGN

JSKN003-306 (NCT06751485) is randomized, open-label, parallel-controlled, multi-center Phase III clinical study, enrolling patients with recurrent platinum-resistant epithelial ovarian, primary peritoneal or fallopian tube cancer, irrespective of HER2 expression. Key inclusion criteria include: age≥18 years; having received 1 to 4 prior lines of systemic anti-tumor therapy; disease progression within 6 months after the last dose of platinum-base chemotherapy; an ECOG PS of 0-1; adequate organ function; and measurable disease by RECIST v1.1. Key exclusion criteria include: prior TOPli or TOPli-containing ADC; active central nervous system metastases; interstitial lung disease (ILD); or uncontrollable comorbidities.

Patients will be randomized 1:1 and stratified by platinum-free interval (≤3 months vs. 3 to 6 months), number of prior lines of therapy (1/2 lines vs. 3/4 lines), and HER2 status (expressing vs. non-expressing) as assessed by a central laboratory. The experimental group will receive JSKN003 at 6.3 mg/kg once every 3 weeks, while the control group will receive the investigator’s choice of chemotherapy (paclitaxel, liposomal doxorubicin, or topotecan). The primary endpoints are PFS by blind independent central review (BICR) as per RECIST v1.1 and OS. Secondary endpoints include other efficacy outcomes assessed by BICR (ORR, DoR, DCR), investigator-assessed efficacy endpoints, safety, and others.

The JSKN003-306 study plans to enroll 556 patients across 80 sites in China. The first patient was successfully dosed in February 2025, and the study is currently in the patient enrollment phase. This study aims to further validate the superiority of JSKN003 over current therapies, potentially representing a breakthrough in treating PROC.

About JSKN003

JSKN003 is Alphamab Oncology’s first bispecific ADC, developed based on HER2-targeting bsAb KN026, and utilizing the proprietary glycan-specific conjugation platform. It binds to two HER2 epitopes on tumor cells and release topoisomerase I inhibitors (TOPIi) through cellular endocytosis, exerting anti-tumor effects. Compared to similar ADCs, JSKN003 demonstrates better serum stability, reduced hematological toxicity, and stronger tumor inhibition and bystander effect, resulting in significantly wider therapeutic window.

Clinical data in heavily pretreated advanced solid tumors have shown high-security profile, with promising efficacy of JSKN003, particularly in platinum-resistant ovarian cancer (PROC), HER2-high/low breast cancer (BC), HER2-positive colorectal cancer (CRC)/ gastric cancer (GC) and other HER2-expressing tumors. JSKN003 was granted breakthrough therapy designation by CDE for platinum-resistant recurrent epithelial ovarian cancer, primary peritoneal cancer, or fallopian tube cancer and HER2-positive advanced colorectal cancer that has failed prior oxaliplatin, fluorouracil, and irinotecan therapy. It has also been granted Orphan Drug Designation (ODD) by the U.S. Food and Drug Administration (FDA) for GC and gastroesophageal junction cancer (GEJ). Three Phase III trials in HER2-low expressing BC, PROC, and HER2-positive BC and multiple Phase II studies are underway.

In September 2024, the Company entered a licensing agreement with JMT-Bio Technology Co., Ltd. ("JMT-Bio"), a wholly-owned subsidiary of CSPC Pharmaceutical Group Co., Ltd. ("CSPC") (stock code: 1093.HK). JMT-Bio was granted the exclusive license and sublicense rights to develop, sell, offer for sale and commercialize JSKN003, for tumor-related indications in mainland China (excluding Hong Kong, Macau or Taiwan). Alphamab retains exclusive production rights for JSKN003.

Exelixis Announces Detailed Results from Phase 3 STELLAR-303 Pivotal Trial Evaluating Zanzalintinib in Combination with an Immune Checkpoint Inhibitor in Metastatic Colorectal Cancer Presented at ESMO 2025 and Published in The Lancet

On October 20, 2025 Exelixis, Inc. (Nasdaq: EXEL) reported detailed results from STELLAR-303, a global phase 3 pivotal trial evaluating zanzalintinib in combination with atezolizumab (Tecentriq) versus regorafenib in patients with previously treated non-microsatellite instability (MSI)-high metastatic colorectal cancer (CRC). As previously announced, the study met one of its dual primary endpoints, demonstrating a 20% reduction in the risk of death with the combination in the intention-to-treat (ITT) population at the final analysis (stratified hazard ratio [HR]: 0.80; 95% confidence interval [CI]: 0.69-0.93; P=0.0045). At a median follow-up of 18.0 months, median overall survival (OS) in the ITT population was 10.9 months with zanzalintinib in combination with atezolizumab versus 9.4 months with regorafenib. Detailed findings from the study, including OS and progression-free survival (PFS) in the ITT population and in the subset of patients without liver metastases, are being presented today at the 2025 European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress during the Proffered Paper Session 2: GI Tumours, Lower Digestive at 9:25 a.m. CEST and simultaneously published in The Lancet.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"While treating non-MSI-high metastatic colorectal cancer remains a challenge, the combination of zanzalintinib and atezolizumab has shown consistent benefits across key subgroups of patients," said Anwaar Saeed, M.D., Section Chief of Gastrointestinal Oncology at the University of Pittsburgh, Director of the Gastrointestinal Disease Center at UPMC Hillman Cancer Center and a lead investigator of the trial. "STELLAR-303 is the first immunotherapy-based phase 3 trial that demonstrated improved overall survival with a differentiated kinase inhibitor compared to a standard of care in this patient population. The survival benefit was demonstrated early and was consistent throughout the trial, underscoring the combination’s potential for patients in need of a new and effective treatment option after disease progression."

An OS benefit with the combination was consistently observed across pre-specified subgroups, including geographic region, RAS status, liver involvement and prior anti-VEGF therapy, as presented in Table 1 below. The 12- and 24-month landmark OS estimates were 46% (95% CI: 41-51) and 20% (95% CI: 15-26), respectively, for the combination of zanzalintinib and atezolizumab, and 38% (95% CI: 34-43) and 10% (95% CI: 6-16), respectively, for regorafenib.

TABLE 1

Median OS, months (95% CI)

HR (95% CI)

Zanzalintinib + Atezolizumab

Regorafenib

Geographic region

Asia

11.5 (9.2-13.7)

8.8 (7.8-10.4)

0.77 (0.59-1.00)

Rest of the world

10.9 (9.3-12.3)

9.8 (8.3-10.9)

0.82 (0.68-0.99)

RAS status

Wild type

12.0 (10.1-14.6)

10.4 (8.7-12.3)

0.79 (0.61-1.01)

Mutant

10.3 (9.0-11.9)

8.7 (8.1-9.8)

0.80 (0.66-0.98)

Active liver metastases

Presence

8.9 (8.0-9.9)

7.7 (6.5-8.5)

0.78 (0.65-0.94)

Absence

15.9 (13.5-17.6)

12.8 (10.9-15.5)

0.77 (0.59-1.01)

Prior anti-VEGF antibody treatment

Yes

10.6 (9.3-12.5)

8.8 (8.3-9.9)

0.80 (0.68-0.95)

No

11.5 (8.7-13.5)

11.1 (9.5-12.6)

0.80 (0.56-1.15)

OS = overall survival; CI = confidence interval; HR = hazard ratio; VEGF = vascular endothelial growth factor

Data pertaining to the other dual primary endpoint, OS in patients without liver metastases (non-liver metastases, NLM), were immature at the data cutoff. A prespecified interim analysis showed a trend in OS favoring the combination (15.9 months versus 12.8 months; stratified HR: 0.79; 95% CI: 0.61-1.03; P=0.0875) at a median follow-up of 16.8 months. The trial will proceed to the planned final analysis for this endpoint.

"These detailed results from STELLAR-303 provide further insight into the combination of zanzalintinib and atezolizumab as a potential new option to extend survival in patients with previously treated metastatic colorectal cancer," said Dana T. Aftab, Ph.D., Executive Vice President, Research and Development, Exelixis. "Before the end of this year, we intend to complete the submission of our first new drug application for zanzalintinib as we work toward bringing this combination regimen to a patient community seeking a new and chemotherapy-free option. These data, along with our robust clinical trial program, underscore the progress we are making toward our goal of increasing the scope and scale of the solid tumor types zanzalintinib may help address."

A trend for improvement in PFS with the combination was also observed in the ITT population (stratified HR: 0.68 [95% CI: 0.59–0.79]; median, 3.7 [95% CI: 3.5–3.8] months versus 2.0 [95% CI: 1.9–2.6] months), though statistical superiority cannot be claimed at this time due to the prespecified hierarchical testing strategy. The trend for PFS improvement with zanzalintinib in combination with atezolizumab versus regorafenib was consistent across subgroups.

The safety profiles of zanzalintinib in combination with atezolizumab and of regorafenib were generally consistent with what has been previously observed, and no new safety signals were identified. Grade 3/4 treatment-related adverse events (AEs) occurred in 59% of patients receiving zanzalintinib in combination with atezolizumab and 37% of patients receiving regorafenib. AEs leading to discontinuation of all study treatment occurred in 18% versus 15% of patients, respectively. The most common grade 3/4 treatment-related AEs were hypertension (15% versus 9%, respectively), fatigue (6% versus 2%), diarrhea (6% versus 2%) and proteinuria (6% versus 2%). Deaths considered related to treatment by investigators were two for zanzalintinib, two for atezolizumab, one for the combination and one for regorafenib.

About STELLAR-303
STELLAR-303 (NCT05425940) is a global, multicenter, randomized, phase 3, open-label study that randomized patients 1:1 to either zanzalintinib in combination with atezolizumab (n=451) or regorafenib (n=450). The study includes patients with previously treated non-MSI-high metastatic CRC. The dual primary endpoints of the study are OS in the ITT population and in the NLM subgroup of patients. The ITT population consisted of all randomized patients, regardless of the presence of liver metastases. The NLM subgroup consisted of patients who did not have active liver metastases at baseline as determined by investigator assessment. Secondary endpoints include PFS, objective response rate and duration of response in the ITT population and in the NLM subgroup of patients. More information about the trial is available at ClinicalTrials.gov.

About Zanzalintinib
Zanzalintinib is a novel oral kinase inhibitor that inhibits the activity of the TAM kinases (TYRO3, AXL, MER), MET and VEGF receptors. These kinases play important roles in oncogenic processes including tumor cell proliferation, metastasis, angiogenesis, drug resistance and evasion of antitumor immunity. With zanzalintinib, Exelixis sought to build upon its extensive experience with the target profile of cabozantinib, the company’s flagship medicine, while improving key characteristics, including pharmacokinetic half-life. Zanzalintinib is currently being developed for the treatment of advanced solid tumors, including colorectal cancer, kidney cancer and neuroendocrine tumors.

Zanzalintinib is an investigational agent that is not approved for any use and is the subject of ongoing clinical trials.

About CRC
CRC is the third most common cancer and the second leading cause of cancer-related deaths in the U.S.1 Approximately 154,000 new cases will be diagnosed in the U.S. with around 53,000 expected deaths from the disease in 2025.1 CRC is most frequently diagnosed among people aged 65-74 and is more common in men and in people of non-Hispanic American Indian/Alaska Native descent.2 Nearly a quarter of CRC cases are diagnosed at the metastatic stage, at which point the five-year survival rate is just 16.2%.2 The liver is the most common site for CRC metastasis. Liver metastases significantly impact survival, with a median five-year survival rate of less than 14% when treated with palliative chemotherapy.

(Press release, Exelixis, OCT 20, 2025, View Source [SID1234656814])

GRAIL, Inc. Announces $325.0 Million Private Placement Financing

On October 20, 2025 GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, reported that it has entered into a securities purchase agreement for a private placement that is expected to result in gross proceeds of approximately $325.0 million, before deducting placement agents’ fees and other expenses.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The private placement included the participation by new and existing institutional investors, including Deep Track Capital, Farallon Capital Management, Hims & Hers, Braidwell LP, three life sciences investment firms, and a tech and life sciences focused family office investment firm.

GRAIL currently expects to use the net proceeds from the private placement to fund its commercial activities and reimbursement efforts, as well as for working capital and other general corporate purposes.

GRAIL believes its cash, cash equivalents and investments, including the expected net proceeds from the private placement, will provide sufficient funding of planned operations into 2030, not including the previously announced agreement by Samsung C&T and Samsung Electronics to invest $110 million in the Company, subject to closing conditions.

Pursuant to the terms of the securities purchase agreement, GRAIL has agreed to issue and sell 4,639,543 shares of common stock (or pre-funded warrants in lieu thereof) at a price per share of $70.05 (or per pre-funded warrant in lieu thereof, less the nominal exercise price of $0.001 per share).The private placement is expected to close on October 21, 2025, subject to the satisfaction of customary closing conditions.

Morgan Stanley acted as lead placement agent and Goldman Sachs & Co. LLC acted as joint placement agent for the private placement.

The securities sold in this private placement, including the shares of common stock underlying the pre-funded warrants, have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and 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. GRAIL granted registration rights to the purchasers in the private placement and has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock and the shares of common stock underlying the pre-funded warrants issued in the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

(Press release, Grail, OCT 20, 2025, View Source [SID1234656830])

Positive Safety and Efficacy of NI-1801 in Platinum Resistant Ovarian Cancer Patients Presented in Proffered Paper Oral Presentation at ESMO 2025

On October 20, 2025 Light Chain Bioscience, a clinical-stage biotechnology company advancing the next generation of bispecific antibodies to treat cancer, reported positive results from a Phase 1/1b study of NI-1801 as a monotherapy and in combination with pembrolizumab in heavily pretreated Platinum Resistant Ovarian Cancer (PROC) patients. The results were reported in a Proffered Paper oral presentation at the 2025 European Society of Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress in Berlin.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

NI-1801 is a first-in-class mesothelin x CD47 bispecific antibody that selectively targets the innate immune checkpoint CD47 on mesothelin-expressing cancer cells.

The Phase 1b study of NI-1801 in combination with pembrolizumab showed an overall survival (OS) rate at one year of 75.2% in 21 patients at the data cutoff (August 2025), with a median follow-up of 11 months (15 patients alive and 6 patients ongoing). The immature progression-free survival (PFS) rate was 32.7% at 9 months with a confirmed response rate by RECIST¹ criteria of 28.5% and a clinical benefit rate (CBR) of 48%. In the monotherapy Phase 1 study, NI-1801 showed an OS rate at one year of 35.3% in 21 patients, with a median follow-up of 19 months and 7 patients alive at the data cutoff.

NI-1801 was safe and well tolerated as monotherapy and in combination with pembrolizumab.

Platinum-resistant ovarian cancer patients treated in this study received ≥ 4 prior chemotherapy lines, representing the most fragile subpopulation of ovarian cancer patients.

With standard of care chemotherapy, previous studies reported a median OS ranging from 9 to 12 months, in a PROC patient population that received at least one chemotherapy line.²

Jose Saro, MD, Chief Medical Officer, Light Chain Bioscience, said: "We are delighted to report substantial clinical benefit of NI-1801 in this subpopulation of platinum-resistant ovarian cancer patients. The overall survival rate reported for NI-1801 in combination with pembrolizumab is particularly noteworthy in a chemotherapy-free regimen, and it is the first example of a combined immunotherapy approach to show effectiveness in this hard-to-treat ovarian cancer patient population. These findings indicate the potential of NI-1801 to positively impact the management of this devastating disease."

Professor Thibault de la Motte Rouge, MD, PhD, Research Director, Centre Eugène Marquis, France, and the investigator presenting the data at 2025 ESMO (Free ESMO Whitepaper) said: "Patients with platinum-resistant ovarian cancer face poor survival outcomes, and current treatment options remain limited, highlighting the urgent need for novel therapeutic approaches. To date, clinical results with immunotherapy in ovarian cancer have been largely disappointing, although the recent Phase III Keynote-B96 trial has shown a benefit with pembrolizumab in patients with early relapsing platinum-resistant disease. In this context, our study demonstrates that NI-1801, administered either as monotherapy or in combination with pembrolizumab, provides durable clinical benefit and meaningful survival improvement, with a favorable safety and tolerability profile. These findings support a therapeutic strategy that synergistically engages both innate and adaptive immune pathways – by targeting CD47 within the tumor microenvironment and blocking the PD-L1/PD-1 axis – as a promising chemotherapy-free approach to enhance immunotherapy efficacy and improve outcomes in this high unmet-need population."

Nicolas Fischer, CEO of Light Chain Bioscience, said: "These promising results confirm our long-held conviction that bispecific antibodies targeting CD47 have a fundamentally different therapeutic window than anti-CD47 monoclonal antibodies, which have faced major setbacks. These findings showed that, in a challenging subpopulation where immune exhaustion and tumor heterogeneity are pronounced, combining blockade of innate and adaptive immune pathways can overcome the ovarian tumors’ immunosuppressive barriers, improving the immunotherapy success rate, which is traditionally low for this tumor type."

Details of the Proffered Paper Oral Presentation

Title (#1512O): NI-1801, a mesothelin x CD47 bispecific antibody: Safety and activity as single agent and in combination with pembrolizumab, in heavily pretreated (≥ 4 prior lines) mesothelin expressing platinum resistant epithelial ovarian cancer patients

Presenter: Professor Thibault de la Motte Rouge, MD, PhD, Research Director, Centre Eugène Marquis, Rennes, France

Lecture Date and Time: Monday 20 October – 10:55 – 11:05

About ovarian cancer

Ovarian cancer accounts for approximately 200,000 deaths worldwide annually.² It is a heterogeneous disease, showing major differences in terms of its incidence, tumor behavior, and outcomes across histological subtypes. Treatment options for platinum-resistant recurrence cases are limited, with no effective therapies that significantly prolong the prognosis.

About NI-1801

Light Chain Bioscience’s most advanced asset, NI-1801, is a first-in-class bispecific antibody selectively targeting the innate immune checkpoint CD47 on mesothelin-expressing cancer cells, as a potential treatment for ovarian and other mesothelin+ cancers. NI-1801 is being evaluated in a Phase 1 trial in patients with heavily pretreated platinum-resistant ovarian cancer (PROC). NI-1801 is also being evaluated in a Phase 2 randomized trial in PROC patients having received 1-3 prior chemotherapy lines.

(Press release, Light Chain Bioscience, OCT 20, 2025, View Source [SID1234656846])