On June 2, 2022 GRAIL, LLC, a healthcare company whose mission is to detect cancer early when it can be cured, reported a broad strategic collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN) to develop and commercialize companion diagnostic (CDx) assays for use with AstraZeneca’s therapies (Press release, Grail Bio, JUN 2, 2022, View Source [SID1234615458]). The collaboration will initially focus on developing companion diagnostic tests to identify patients with high-risk, early-stage disease, with plans to embark on numerous studies across multiple indications over the next several years. The parties are additionally planning to use GRAIL’s technology to enable recruitment of patients with early-stage cancer for AstraZeneca’s clinical studies.

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"GRAIL has developed a novel approach to detect cancer signals in blood, regardless of whether or not the patient has clinical symptoms. We are excited to embark on this work with AstraZeneca to transform cancer outcomes through a broad, strategic collaboration," said Sir Harpal Kumar, President, Biopharma Business and Europe at GRAIL. "Through our collaboration, we hope to provide critical information to improve the identification of patients who may be eligible for clinical trials and change clinical paradigms for the treatment of early-stage cancers."

Across the projects within this collaboration, GRAIL will use its methylation platform to perform testing for patients enrolled in AstraZeneca’s clinical trials. GRAIL will seek regulatory approval in key markets for the liquid biopsy companion diagnostics.

Susan Galbraith, Executive Vice President of Oncology R&D, AstraZeneca, said: "Identifying and treating cancer early is at the heart of this strategic collaboration. Combining GRAIL’s innovative blood-based methylation profiling platform with AstraZeneca’s leadership in Oncology, we hope to accelerate the adoption of circulating tumor DNA across clinical trials and make our cancer medicines available at an earlier stage of disease when there is greater potential to transform patient outcomes, and even cure."

GRAIL is developing its proprietary methylation platform for use in multiple post-diagnostic settings to identify patients at high risk of future cancer recurrence, detect the presence or absence of residual disease, and to inform treatment decisions, including identifying patients with cancer who may be eligible for neoadjuvant or adjuvant therapy. GRAIL’s technology platform is designed to optimize circulating tumor DNA testing to enable detection of early stage disease and minimal residual disease (MRD).

On June 2, 2022 ProfoundBio, a biotech company focusing on the development of novel targeted therapies, reported the closing of a $70 million Series A+ financing round led by Sequoia China (Press release, ProfoundBio, JUN 2, 2022, View Source [SID1234615476]). Current investors Lilly Asia Venture, Oriza, Chang’an Capital, LYFE Capital, and K2VC also participated in this round of financing. ProfoundBio has raised a total of more than $138 million in the past two years. Following the closing, Lynn Yang from Sequoia China will be joining the company’s Board of Directors.

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ProfoundBio will use the proceeds to advance PRO1184 and PRO1160 into Phase 1 clinical trials. PRO1184 is a folate receptor alpha (FRα)-directed ADC for potential treatment of multiple solid tumors and PRO1160 is a CD70-directed ADC for both hematological and solid tumor indications. Preclinical studies suggest that both compounds may achieve favorable benefit to risk profiles in the clinic. Additionally, the company will continue to accelerate multiple early-stage programs to preclinical and CMC development, strengthen and expand innovative ADC technologies, and establish vertically integrated development capabilities to streamline discovery to clinical trials.

"This financing, especially in the context of this challenging economic environment, represents the confidence our new and all our current investors have in our capabilities, pipeline, and ADC technology." said Baiteng Zhao, PhD, co-founder, CEO, and Chair of the Board of ProfoundBio. "We made tremendous advancements as we continue to execute on our plan to bring novel therapeutics to patients with cancer. We will soon submit an IND for PRO1184, already initiated IND-enabling activities for PRO1160, and continue to expand our pipeline. In addition, we established multiple novel ADC technology platforms as presented at the 2022 AACR (Free AACR Whitepaper) annual meeting. Finally, and of equal importance, our team continues to strengthen with numerous key people identifying with and wanting to be a part of our vision."

Lynn Yang, Partner at Sequoia China, said, Sequoia China invests in founders who are truly capable of pushing the envelope of ground-breaking technologies. We invested in the ProfoundBio Series A financing and led the following A+ financing. ProfoundBio is a leading company in ADC research and development, and they deeply understand the balance between an ADC’s effectiveness and safety. With proprietary underlying technologies, ProfoundBio has developed a pipeline of products that are expected to be highly competitive in the market. The company’s products will enter into the clinical stage and potentially provide better care for patients in need.

On June 2, 2022 Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company pioneering the development of a novel class of tumor-directed oncolytic immunotherapies, reported that members of its management team will present in a fireside chat at the Jefferies Healthcare Conference being held at the Marriott Marquis in New York, NY on Thursday, June 9, 2022 at 9:30 AM ET (Press release, Replimune, JUN 2, 2022, View Source [SID1234615409]).

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On June 2, 2022 CTI BioPharma Corp. (NASDAQ: CTIC) reported that management will provide a corporate overview at two upcoming investor conferences in New York City (Press release, CTI BioPharma, JUN 2, 2022, View Source [SID1234615425]).

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Presentation details:

Event: Jefferies Healthcare Conference
Date: Friday, June 10, 2022
Time: 10:00 a.m. ET

Event: JMP Securities Life Sciences Conference
Date: Wednesday, June 15, 2022
Time: 11:00 a.m. ET

Both presentations will be webcast live and available for replay from the Investors section of CTI BioPharma’s website at www.ctibiopharma.com.

On June 2, 2022 Alkermes plc (Nasdaq: ALKS) reported that the company will accept applications for its Alkermes Inspiration Grants program beginning on June 15, 2022 (Press release, Alkermes, JUN 2, 2022, View Source [SID1234615443]). Now in its sixth year, this competitive grant program will provide up to a total of $500,000 in grants to assist nonprofit organizations in their work to address the needs of people living with addiction, serious mental illness or cancer.

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"In addition to our work developing new medicines designed to address the real world needs of patients, we are committed to working toward positive change for people affected by addiction, serious mental illness or cancer," said Richard Pops, Chief Executive Officer of Alkermes. "This year, we have sharpened the focus of the Alkermes Inspiration Grants program to support innovative programs focused on unmet patient and caregiver needs, while continuing to prioritize efforts to address longstanding and widespread health disparities."

This year’s submissions will be evaluated based on the set of criteria outlined in the request for proposals, with a focus on people affected by alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder, melanoma or ovarian cancer. Proposals should include clearly defined needs, objectives, activity format, mode of delivery and intended audience, and be relevant to historically under-resourced or underrepresented communities. Alkermes seeks to support programs that have a broad reach within the U.S. and potential to lead to sustained impact. Grant recipients will be selected by a committee that includes senior leaders from Alkermes and individuals chosen to represent the perspectives of people with lived experience, caregivers and patient advocates.

Eligible U.S. 501(c)(3) nonprofit organizations may submit a grant application between June 15, 2022 and July 15, 2022. For more information on the Alkermes Inspiration Grants program, including submission instructions, additional eligibility guidelines, evaluation criteria and a link to the application portal, please visit View Source