On October 12, 2021 Inspyr Therapeutics, Inc. ("Inspyr") reported (i) a 1-for-75 reverse stock split of its common stock and (ii) a holding company restructuring whereby Rebus Holdings, Inc. ("Rebus"), a newly created entity will serve as the new holding company that will replace Inspyr as the public company trading on the OTC Markets trading under the symbol RBSH (Press release, Inspyr Therapeutics, OCT 12, 2021, View Source [SID1234591209]). The reverse stock split and holding company reorganization will occur concurrently.

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Inspyr has completed a restructuring consisting of reacquiring its rights to its now lead asset RT-AR001 and transforming into a holding company structure. Management believes that reacquiring the Adenosine assets and its new structure will lead to a more streamlined company that will increase stockholder value. A pre-IND meeting for RT-AR-001 was held with the FDA in Q1 of 2021. Following that meeting the company has moved forward with manufacturing and non-clinical studies to support the submission of an IND. The company expects to provide a further clinical update in the first half of 2022. The Company is also in the process of launching and rebranding its new corporate website at www.rebus-corp.com.

The company anticipates that subsequent to the reverse split it will be able to apply to list its Common Stock on the OTCQB tier of the OTC Markets Group, and eventually apply for a listing on a national exchange, in order to provide stockholders with more liquidity and allow the company more flexibility in accessing the capital markets.

Immediately after the 1-for-75 reverse stock split, existing shares of Inspyr common stock will be automatically converted, on a one-for-one basis, into shares of Rebus common stock having the same designation, rights, powers, and preferences and qualifications, limitations, and restrictions as a share of Inspyr common stock immediately prior to the reorganization. Outstanding Inspyr convertible debt securities and warrants will be similarly converted on the same terms into like securities of Rebus.

Accordingly, Inspyr stockholders will automatically become stockholders of Rebus with the same ownership percentage of shares as they held in Inspyr immediately prior to the reorganization. Inspyr will subsequently operate as a wholly-owned subsidiary of Rebus.

Effective at the open of the market on Tuesday, October 12, 2021, Inspyr will cease to trade under NSPX and Rebus will begin trading under the new ticker symbol RBSH with a CUSIP of 75619J 103.

The Board of Directors and the executive officers of Inspyr immediately prior to the reorganization will continue in their same roles at Rebus.

The holding company reorganization, which is intended to be a tax-free transaction for U.S. federal income tax purposes for the stockholders, will modernize the Company’s operating and legal structure, and will provide financial and administrative flexibility.

On October 12, 2021 Merck (NYSE: MRK), known as MSD outside the United States and Canada, reported through a subsidiary, a cash tender offer to purchase all outstanding shares of common stock of Acceleron Pharma Inc. (Nasdaq: XLRN) (Press release, Merck & Co, OCT 12, 2021, View Source [SID1234591094]). On Sept. 30, 2021, Merck announced that it had entered into a definitive agreement to acquire Acceleron.

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Upon the successful closing of the tender offer, stockholders of Acceleron will receive $180 in cash for each share of Acceleron common stock validly tendered and not validly withdrawn in the offer, without interest and less any required tax withholding. Following the purchase of shares in the tender offer, Acceleron will become a subsidiary of Merck.

Merck will file today with the U.S. Securities and Exchange Commission (the "SEC") a tender offer statement on Schedule TO, which provides the terms of the tender offer. Additionally, Acceleron will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of the Acceleron board of directors that their stockholders accept the tender offer and tender their shares.

The tender offer will expire at 5:00 p.m., Eastern Time, on Nov. 10, 2021, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is subject to certain conditions, including the tender of shares representing at least a majority of the total number of Acceleron’s outstanding shares, receipt of applicable regulatory approvals, and other customary conditions. The transaction is expected to close in the fourth quarter of 2021.

On October 12, 2021 Agenus Inc. (NASDAQ: AGEN), an immuno-oncology company with an extensive pipeline of checkpoint antibodies, cell therapies, adjuvants, and vaccines designed to activate immune response to cancers and infections, reported it has triggered the first development milestone payment under its global licensing agreement with Bristol Myers Squibb for AGEN1777, an Fc-enhanced bispecific anti-TIGIT antibody (Press release, Agenus, OCT 12, 2021, View Source [SID1234591111]). Agenus will receive a $20 million cash payment with the dosing of the first patient.

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"AGEN1777 represents Agenus’ latest innovation to activate the immune system against cancer and combat therapeutic resistance, as well as our fifth pharmaceutical collaboration to reach clinical development," said Steven O’Day, MD, Chief Medical Officer of Agenus. "With AGEN1777’s unique mechanism of action and Bristol Myers Squibb’s immuno-oncology expertise, our goal is to efficiently evaluate AGEN1777’s benefit in difficult to treat tumors."

This Phase 1 dose escalation study is designed to evaluate the safety, tolerability, and preliminary clinical activity of AGEN1777 as a single agent and in combination with a PD-1 inhibitor in patients with advanced solid tumors. The first patient was treated at Providence Cancer Institute by Dr. Rachel Sanborn. The trial will follow a standard dose-escalation design and will be used to establish the recommended Phase 2 dose (RP2D).

Bristol Myers Squibb intends to advance the research and development of AGEN1777 in immuno-oncology for high priority tumor indications including non-small cell lung cancer.

The global license agreement with Bristol Myers Squibb included a $200 million upfront payment paid in July 2021, and up to $1.36 billion in development, regulatory and commercial milestones in addition to tiered double-digit royalties on net product sales. Bristol Myers Squibb is solely responsible for the development and commercialization of AGEN1777 and its related products worldwide. Agenus retains options to conduct clinical studies under the development plan, to conduct combination studies with certain other Agenus pipeline assets, to co-fund global development for increased US royalties, and to co-promote AGEN1777 in the US upon commercialization.

About AGEN1777
AGEN1777 is a potentially first-in-class bispecific anti-TIGIT antibody engineered with an enhanced Fc region for high binding affinity and improved T and NK cell activation.

On October 12, 2021 PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, reported that the Company will release its third quarter 2021 financial results after market close on Tuesday, November 2, 2021 (Press release, PerkinElmer, OCT 12, 2021, View Source [SID1234591145]). The Company will host a conference call the same day at 5:00 p.m. ET to discuss these results. Prahlad Singh, president and chief executive officer, and Jamey Mock, senior vice president and chief financial officer, will host the conference call.

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To access the call, a live audio webcast of the call will be available via this registration form or on the Investors section of the Company’s website at www.perkinelmer.com.

A replay of the webcast will be available beginning at 7:00 p.m. ET, Tuesday, November 2, 2021 through the Investors section of the Company’s website.

On October 12, 2021 NanoImaging Services, Inc., the premier industry provider of cryoEM services, microscope access and training, and Viva Biotech Holdings, a leading open-access and innovation-driven technology platform company, reported a partnership agreement to develop a streamlined, cryoEM enabled gene-to-structure workflow, to ultimately accelerate medicinal chemistry analysis (Press release, Lifescience Newswire, OCT 12, 2021, View Source [SID1234591166]).

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This strategic partnership will bring together NanoImaging Services’ industry-leading expertise and innovation in high-resolution structural enablement by cryoEM and Viva Biotech’s world leading drug discovery platform to enable the management of projects from construct design through to final maps and subsequent protein supply, and analyses for medicinal chemistry cycles. This seamlessly integrated workflow will facilitate target and structure validation for companies with challenging targets in an efficient and cost-effective manner, streamlining drug discovery pipelines and ultimately reducing the time to clinic.

Giovanna Scapin, Ph.D., Chief Scientific Officer at NanoImaging Services said, "One of the strongest predictors of success in structural enablement of drug discovery targets is the purity, homogeneity, and in-depth biochemical and biophysical characterization of the reagents involved. This agreement utilizes our industry-leading expertise and innovation in high-resolution structural enablement by cryoEM, partnered with a worldwide leader in protein production and characterization. Together we aim to successfully target the most complex and challenging projects in drug discovery for our shared clients in a cost- and time- effective manner."

"We are very excited to build the strategic cooperation with NanoImaging Services," said Dr. Ren Delin, Executive Director and President of Viva. "NanoImaging Services, the world’s top cryoEM service provider, has considerable advantages in technology and equipment. As the world’s leading drug discovery platform, Viva has efficient protein purification and production capabilities, along with the advanced membrane protein expression and screening technology. Our cooperation is expected to further enhance the ability of target discovery, to empower the clients to develop new drugs as soon as possible, and benefit more patients." said Dr. Ren Delin, Executive Director and President of Viva Biotech.

By combining forces and aligning these already successful and proven workflows, target enablement and medicinal chemistry timelines can be shortened significantly. This, along with the increased success rates, can contribute to bringing down the overall investment costs and creating a more efficient workflow.

To find out more about NanoImaging Services cryoEM solutions for protein structure determination, please visit our website here => View Source