On May 10, 2022 Domain Therapeutics, a biopharmaceutical company specializing in the research and development of innovative drugs targeting G Protein-Coupled Receptors (GPCRs) in immuno-oncology, reported the closing of a US $42m (€39m) series A financing round co-led by Panacea Venture, CTI Life Sciences and 3B Future Health Fund, and joined by adMare BioInnovations, Schroders Capital, Omnes, Turenne Capital, Theodorus, Viva BioInnovator and existing investor Seventure Partners (Press release, Domain Therapeutics, MAY 10, 2022, View Source [SID1234614129]).

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This investment is a significant step forward for the French-Canadian company as it seeks to bring novel therapeutic solutions to cancer patients, aimed at bypassing immunosuppression mediated by GPCRs. Domain Therapeutics will use the proceeds of this financing to i) conduct the clinical development of its EP4R antagonist, DT-9081, ii) advance two additional GPCR programs, including an anti-CCR8 antibody, to the Investigational New Drug application stage, and iii) progress its discovery-stage pipeline of a number of first-in-class assets targeting GPCRs, identified through its proprietary platforms.

"We are pleased to welcome our new shareholders and I thank them all for their commitment at this decisive stage of our company’s growth," comments Pascal Neuville, CEO of Domain Therapeutics. "After having delivered a first GPCR drug candidate for immuno-oncology together with Merck KGaA, Domain is now committed to advance its own treatments reviving the immune system to defeat cancer."

With the expansion of immune checkpoint inhibitor treatments and the understanding of how tumors highjack and escape the immune system, even under immunostimulating treatments, GPCRs have recently emerged as strategic targets responsible of immunosuppression and treatment-resistance mechanisms. Domain Therapeutics is leveraging its insights into GPCR science and technology to develop a robust immuno-oncology pipeline designed to harness the power of immunity and to broaden the impact of immunotherapies. In addition, Domain Therapeutics scientists are hunting for biomarkers, tissue microarray data, genetic mutations and protein expression to select patients who will benefit most from its immunotherapy treatments.

"Panacea Venture foresees in Domain Therapeutics an outstanding potential in terms of value creation in the near future by leveraging the promise of GPCRs to deliver innovative immunotherapies," adds James Huang, Founding Managing Partner of Panacea. "We look forward to contributing to the success and the development of the company."

"We are very proud to co-lead this strategic financial round to support Domain Therapeutics capabilities to innovate and transform the company into a clinical-stage biotech." mentions Laurence Rulleau, Managing Partner at CTI Life Sciences. "The presence of Canadian investors in this Series A reinforces the footprint of Domain in Montreal and will increase the visibility of the company in North America for future financing and clinical development."

"Domain Therapeutics has a unique positioning in GPCR-mediated immunoresistance. The combination of two decades of expertise in GPCR drug discovery and the development of the oncology franchise over the last years holds great promise to deliver innovative immunotherapies to patients and to address high unmet medical needs," remarks Roberto de Ponti, Managing Director and General Partner of 3B Future Health Fund. "We are delighted to support Domain Therapeutics high-performing management team in transforming a comprehensive portfolio of programs into cancer treatments."

The Board of Directors of Domain Therapeutics is now composed of : James Huang (Director, Panacea Venture), Laurence Rulleau (Director, CTI Life Sciences), Roberto de Ponti (Director, 3B Future Health Fund), Emmanuel Fiessinger (Director, Seventure Partners), Youssef Bennani (Chairman of the Board of Directors), Sylvie Ryckebusch (Independent Director), Pascal Neuville (Director and CEO), Katherine Cohen (Observer, Panacea venture), Frédéric Lemaître Auger (Observer, adMare BioInnovations), Erwin Boos (Observer, Schroders Capital) et Guillaume Blavier (Observer, Omnes).

Advisors involved in this operation

Lawyers

Advisors of the company:

Bird & Bird (Paris, France) : Emmanuelle Porte (Partner) and Claire Tanguy (Associate).
Advisors of investors:

BCF (Montreal, Canada): Gino Martel, Julien Lefebvre (Partners), Luka Pavlovic (Associate);
Jones Day (Paris, France): Geoffroy Pineau-Valencienne (Partner) and Jeanne Plé (Associate) ;
Chammas & Marcheteau (Paris, France): Jerôme Chapron (Partner), Pauline Vigneron (Associate) ;
Taylor Wessing (Paris, France): Nicolas De Witt (Partner) ;
McDermott Will & Emery (Paris, France): Emmanuelle Trombe (Partner), Laetitia de Dinechin (Associate).
Intellectual Property

Advisors of the company:

Vossius & Partner (Munich, Allemagne) : Oswin Ridderbusch (European Patent Attorney);
Lavery Avocats (Montreal, Canada): Alain Dumont (Partner).
Advisors of investors:

Goodwin Procter LLP (Boston, United States): Theresa C. Kavanaugh (Partner).
Financial advisors

Advisors of the company:

Agile Capital Markets (Paris, France) : Eric Cohen (Managing Director), Michael Khayat (Associate) ;
CenPonts Healthcare (Paris, France) : Xianding Ma (Partner), Jinlong Yue (Executive Director).

On May 10, 2022 Celsius Holdings, Inc., (Nasdaq: CELH), maker of the leading global fitness drink, CELSIUS reported preliminary financial results for the first quarter ended March 31, 2022 (Press release, Celsius Therapeutics, MAY 10, 2022, View Source [SID1234614146]). Management will host a conference call today at 4:30 p.m. Eastern Time to discuss the results with the investment community.

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A PDF containing our first quarter 2022 results and full financial tables is available at:
View Source

To participate in the conference call, please call one of the following telephone numbers at least 10 minutes before the start of the call:

Webcast: View Source

An audio replay of the call will be available on the Company’s website at:
View Source

On May 10, 2022 K-Medi Hub reported that it signed a business agreement with Eisen Science for research on the development of innovative new drugs using artificial intelligence (Press release, AIGEN Sciences, MAY 10, 2022, View Source [SID1234643555]).

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Through this agreement, K-Medi Hub and Igen Science plan to focus their research on finding effective substances for new drug development and discovering lead substances through compound optimization.

Eisen Science is a bio venture established last year based on the technological capabilities of the DMIS research team in the Department of Computer Science at Korea University. It has an artificial intelligence platform for new drug development based on cell-level transcriptome data.

Through the new drug development optimization technology support project, K-Medi Hub continues to support research gaps for basic research results in the development of promising new drugs with high risks for domestic small and medium-sized ventures.

In particular, we have recently developed a platform that can significantly reduce the time and cost required to develop innovative new drugs by utilizing artificial intelligence and are providing it on a public portal site.

On May 10, 2022 Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) ("Sonnet" or the "Company"), a biopharmaceutical company developing innovative targeted biologic drugs, reported its financial results for the three and six months ended March 31, 2022 and provided a business update (Press release, Sonnet BioTherapeutics, MAY 10, 2022, View Source [SID1234614050]).

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"We are excited to have initiated the first clinical trial with our lead Fully Human Albumin Binding pipeline asset, SON-1010," said Pankaj Mohan, Ph.D., Founder and CEO. "This represents a great accomplishment for our research team, and we look forward to continuing the progress by also advancing SON-080 into the clinic by mid-year. Additionally, we plan to initiate a non-human primate non-GLP toxicology study for SON-1210 later this quarter."

"We continue to focus on our financing strategy and are on track with our R&D activities in 2022. We believe there is significant value in our pipeline that is not reflected in our current valuation that we will seek to unlock during this pivotal year for Sonnet," commented Jay Cross, CFO.

FY 2022 Second Quarter and Recent Corporate Updates

Sonnet provided the following corporate updates for the 2022 calendar year:

●IND cleared for SON-1010 and clinical trial initiated; initial safety data for this study are anticipated in the second half of 2022.
●Continued cGMP manufacturing of SON-080, with clinical study initiation planned for the first half of 2022 in patients with Chemotherapy Induced Peripheral Neuropathy (CIPN).
●Preparing initiation of a non-GLP pre-clinical toxicity study of SON-1210 in non-human primates in the second quarter of 2022.
●Completed sequence confirmation for SON-3015 and preparing for initial in vivo mice studies in the second half of 2022.
●Lead optimization is underway to initiate chemistry, manufacturing and controls (CMC) with cell line development for SON-1410 in the second quarter of 2022.

FY 2022 Second Quarter Ended March 31, 2022 Financial Results

●As of March 31, 2022, Sonnet had $13.6 million cash on hand.
●Research and development expenses were $6.4 million for the three months ended March 31, 2022, compared to $3.8 million for the three months ended March 31, 2021. The increase of $2.6 million was primarily due to the development of the cell lines for SON-1010, SON-1210 and SON-080, and an increase in payroll and share-based compensation expense as we continue to expand our operations.
●General and administrative expenses were $1.9 million for the three months ended March 31, 2022, compared to $2.2 million for the three months ended March 31, 2021. The decrease of $0.3 million was primarily due to a decrease in payroll expense.

On May 10, 2022 Catalyst Clinical Research, a market-leading provider of clinical research services, reported its selection into Inc. Magazine’s Best Places to Work (Press release, Catalyst Clinical Research, MAY 10, 2022, View Source [SID1234614067]). Catalyst was identified as an organization with Established Excellence for companies in the 5-14 years category for business. This is Catalyst’s first year being named to the list and Inc.’s most competitive selection process; only a small fraction of the thousands of applicants are featured.

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"At Catalyst, our people remain our greatest differentiator and we champion them every day. This honor provides strong evidence of Catalyst’s commitment to a people-first culture and reinforces that the work we are doing to create an intentional, healthy culture is truly making an impact," said Marshall Skelton, Senior Vice President of People and Culture at Catalyst Clinical Research. A big thanks to each of our employees for the role they play in helping Catalyst achieve this honor."

Results were based on an employee-based survey. Some of the insights gleaned during the selection process included:

More than 98% of our team members were judged engaged advocates of Catalyst.
In the open-ended commentary, many of the team members commented on our people-first culture and how it’s truly an action and not just a phrase. Example: "Catalyst says they put people first, and they really do. I’ve worked at other large CROs who have said the same thing, but in actuality, you are just a cog in a machine, and the only way you would get noticed there is if you mess up. They don’t just care for you while you work. If you have an illness with you or your family, they will reach out to make sure everything is ok, and offer to helo. They offer unlimited PTO, and constantly urge us to take advantage of it. I don’t view the people at Catalyst as my co-workers. I view them as an extension of my family."
More than three-quarters of the company’s employees agreed that "they see professional growth and career development opportunities for themselves in the organization."
The word that best described our work environment from survey takers was "Flexible."
Catalyst was in the top 10% of all companies for senior leaders visibly valuing people as the most important asset of the company.
"This recognition is a huge accomplishment as we emerge from a two-year pandemic and associated challenges, and creates a great opportunity to continue building a differentiated culture as we expand internationally both organically and via the acquisition of Aptus Clinical," said Nick Dyer, CEO of Catalyst Clinical Research. "I am honored on behalf of all our employees and grateful to our entire management group who engage with our teams daily, creating the foundation to make Catalyst an attractive company to work at and to grow a sustained career."

Additional recent awards and recognitions given to Catalyst Clinical Research include: Triangle Business Journal’s Fast 50 (2017, 2020, 2021), Inc.’s 5000 Fastest-Growing Private Companies (2020, 2021), CRO Leadership Awards (2020) and Clearlyrated Best Staffing – Talent Satisfaction (2021).