Leap Therapeutics Announces Pricing of $90 million of Common Stock and Pre-Funded Warrants

On September 22, 2021 Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, reported the pricing of an underwritten public offering of its common stock at a public offering price of $2.85 per share and of pre-funded warrants to purchase shares of its common stock at a public offering price of $2.849 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each pre-funded warrant (Press release, Leap Therapeutics, SEP 22, 2021, View Source [SID1234590158]). The gross proceeds to Leap from this offering are expected to be approximately $90 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Leap. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. In addition, Leap has granted the underwriters a 30-day option to purchase up to an aggregate of an additional 4,740,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The offering is expected to close on or about September 24, 2021, subject to satisfaction of customary closing conditions.

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Piper Sandler & Co., Raymond James & Associates, Inc. and Mizuho Securities USA LLC are acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated is acting as lead manager for the offering.

Leap intends to use the net proceeds from the offering to fund: (i) the continued development of DKN-01; (ii) manufacturing of clinical trial material; and (iii) general corporate purposes, including working capital and other general and administrative expenses.

The securities will be offered and sold pursuant to an effective shelf registration statement on Form S-3 (File No. 333-248797) that was previously filed by Leap with the Securities and Exchange Commission (the "SEC") on September 14, 2020 and was declared effective by the SEC on October 16, 2020. A preliminary prospectus supplement and the related prospectus has been filed with the SEC and will be available for free on the SEC’s website at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at [email protected]. These documents may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or e-mail at [email protected]; or from Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY, 10020; by phone at (212) 205-7600; or by email at [email protected].

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

EXACT Therapeutics AS announces interim results for first half 2021

On September 22, 2021 EXACT Therapeutics AS (‘EXACT-Tx’) reported its interim results for the first half 2021 (Press release, Exact Therapeutics, SEP 22, 2021, View Source [SID1234590126]).

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The Interim Report for half year 2021 is also available on the company’s website: www.exact-tx.com

Legend Biotech to Host R&D Day on October 18, 2021

On September 22, 2021 Legend Biotech Corporation (NASDAQ: LEGN), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, reported that it will host its first Research & Development Day on Monday, October 18, commencing at 10:00 a.m. (Eastern Time), at Andaz 5th Avenue in New York (Press release, Legend Biotech, SEP 22, 2021, View Source [SID1234590142]).

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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

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The meeting will feature updates on the company’s advancing pipeline of hematological and oncological indications and expanding cell therapy capabilities, including its B cell maturation antigen (BCMA) clinical development program. Presentations will be delivered by Legend’s senior leadership team:

Ying Huang, PhD, Chief Executive Officer and Chief Financial Officer
Frank Fan, MD, PhD, Chief Scientific Officer
Steve Gavel, Vice President, US & Europe Commercial
Lida Pacaud, MD, Vice President, Clinical Development
A live webcast and presentation will be available to investors and other interested parties on the Legend Biotech website under "Events and Presentations". A recording of the webcast can be viewed as early as 24 hours after the event and will be archived for six months.

To register for the event, please visit this link.

BioChain announces expanded line of NGS characterized bio-samples for oncology researchers

On September 22, 2021 BioChain Institute, ("BioChain"), a leader in high quality processed bio-sample products, reported an expanded line of Next Generation Sequencing (NGS) characterized bio-samples encompassing a variety of cancer-related mutations available for preclinical drug development and as reference samples for CLIA labs (Press release, Biochain, SEP 22, 2021, View Source [SID1234590160]).

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"Scientists are looking for specific gene mutations; however, this process is time-consuming and expensive," said BioChain’s Director of Business Development Dr. Vidyodhaya Sundaram. "At BioChain, we do the upfront work of screening for mutations to ultimately provide this information to further research."

BioChain now offers ready-to-use, NGS characterized tissue samples for BRCA1, BRCA2, MSI, HPV, EGFR, and KRAS, developing the new mutation-specific bio-samples in response to the growing need and demand from researchers.

"BioChain also accepts requests for custom projects regarding specific gene mutations," Sundaram said.

About BioChain’s NGS characterized samples

For oncology researchers studying pathways related to BRCA1 and BRCA2, BioChain offers samples from breast cancer donors characterized using the Paragon genomics BRCA1&2 panel. Associated with many cancer types, BRCA gene mutations are strongly linked to breast cancers.

Microsatellite instability (MSI) is the condition of enhanced predisposition to genetic mutation. Associated with many cancer types, MSI is strongly linked with colon cancer, and BioChain offers MSI-High and MSI-Stable control samples characterized using direct PCR or indirect immunochemistry for the cancer research community.

Infection with Human Papillomavirus (HPV) is associated with several cancers, including head and neck squamous cell carcinomas and cervical cancers. BioChain offers HPV positive and negative tissue sections of these cancers as control slides for oncology researchers. Samples are characterized using Diacarta’s QuantiVirus HPV E6/E7 RNA test, detecting mRNA from 16 high-risk HPV genotypes.

BioChain also offers bio-samples involving KRAS mutations. These major drivers of pancreatic cancers and epidermal growth factor receptor (EGFR) mutations are linked to subtypes of non-small cell lung cancer.

BioChain offers all bio-samples in frozen and Formalin-Fixed Paraffin-Embedded (FFPE) formats. Some samples are available as matched sets including normal tissue and adjacent primary tumor tissue along with plasma from the same donor.

AB Science receives Health Canada approval letter to commence Phase I/II trial of AB8939 in the treatment of Acute Myeloid Leukemia

On September 22, 2021 AB Science SA (Euronext – FR0010557264 – AB) reported that its clinical trial with AB8939 in adult patients with relapsed/refractory acute myeloid leukemia (AML) has been approved by Health Canada (Press release, AB Science, SEP 22, 2021, View Source [SID1234591053]). The ‘No Objection Letter’ (NOL) received from Health Canada provides an acknowledgement of AB8939’s drug candidacy and the authority to proceed with a Phase I/II study (AB18001) in patients with refractory and relapsed AML and refractory myelodysplastic syndrome (MDS) .

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AB8939 is a new generation synthetic microtubule destabilizer with the ability to overcome multidrug resistance and the potential for broad applicability as a potent anticancer drug. Microtubules play a crucial role in multiple cellular functions which makes them an important target for cancer therapy. Indeed, chemotherapies that target microtubules, such as taxanes and vinca alkaloids, are among the most successful anticancer therapeutics available. Unfortunately, the development of drug resistance (for example, via Pgp efflux pumps that transport the drugs out of the cancer cells) often restrict their clinical efficacy.

Key characteristics of AB8939 are that it circumvents difficulties associated with Pgp-dependent multidrug resistance and is not deactivated by an enzyme named myeloperoxidase, which is an advantage over existing chemotherapies. Another advantage and distinguishing characteristic of AB8939 is that it is a synthetic drug.

The therapeutic potential of AB8939 has been demonstrated through a series of preclinical experiments [1–3]. In vivo data from a highly resistant Ara-C patient derived xenograft (PDX) mouse model showed that AB8939, administered alone or in combination with Ara-C, increased survival relative to single agent Ara-C, with an accompanying significant reduction of blasts in blood and decrease in tumor growth [1]. Ara-C is considered the clinically most relevant cytotoxic drug for AML treatment. In another example, cancerous tumors from patients suffering from resistant acute megakaryoblastic leukemia (an AML subtype) were transplanted into mice. Data showed a complete response in mice treated with AB8939, as compared with rapid disease progression in control animals [2]. No apparent toxicity was observed during the time course of the treatment.

Based on these results, AB8939 was granted orphan drug designation for AML from the U.S. Food and Drug Administration (FDA) [4].

The first indication AB8939 is being developed for is acute myeloid leukemia (AML), a rapid proliferating hematological cancer that originates in the bone marrow and quickly moves into the blood. Cytarabine (Ara-C) is the current standard chemotherapy for AML treatment, however, drug resistance is a major limitation to successful therapy. AB8939 therefore has strong potential as a second or third-line treatment in AML patients who are unfit to receive intensive chemotherapy.

The advantageous mechanistic characteristics of AB8939 mean that it is potentially applicable to a large number of other oncology indications currently treated by microtubule-inhibitor drugs (such as taxanes and vinca alkaloids) and in particular hematological cancers. The envisioned strategy is to position AB8939 in patients with abnormal cytogenetics that make these patients unresponsive to first-line therapy.

Professor Olivier Hermine, President of the Scientific Committee of AB Science and member of the Académie des Sciences in France said, "We believe that AB8939 could represent a major breakthrough in the development of effective microtubule-targeting agents, an extensively used class of cancer treatment. Our preclinical data show that AB8939 exhibits broad anticancer activity, with a notable advantage of it being able to overcome common mechanisms of drug resistance. AB8939 therefore has strong potential to be developed in numerous oncology indications, with our initial targets being hematological cancers. We are excited about the start of this first AB8939 study in acute myeloid leukemia (AML), which represents a significant milestone in the clinical program of AB Science. AB8939 seems particularly well-suited for the treatment of relapsed or refractory AML, for which there are very limited therapeutic options."

AB8939 was entirely discovered by the laboratories of AB Science, which retains full ownership of intellectual rights, and is an example of AB Science’s focus on innovative drug development focused on improving patients’ lives.

About Study AB18001
Study AB18001, titled ‘A Phase 1/2 Study to Assess the Safety, Pharmacokinetics, and Efficacy of Daily Intravenous of AB8939 in patients with Relapsed/Refractory Acute Myeloid Leukemia’, has a multi-stage design. The first part is a dose escalation study that aims to determine the safety and tolerability of intravenous AB8939 in patients with refractory or relapsed AML or patients with refractory MDS, and to determine the recommended dose for the second-stage dose expansion study. This dose expansion study aims to determine the schedule for a Phase 2 trial in patients with relapsed/refractory AML and to also provide an early efficacy (response rate) assessment of AB8939.

About acute myeloid leukemia (AML)
Acute myeloid leukemia (AML) is a serious, life-threating condition and the most common cause of leukemia-related mortality, with a majority of patients facing a highly unsatisfactory prognosis. As such, AML represents an unmet medical need, with limited therapeutic options for patients who are refractory or too frail to benefit from potentially curative but highly toxic treatment, or for those patients that have relapsed following a first complete response. The prevalence of AML in western countries is around 1 per 5,000 persons [5], corresponding to around 100,000 cases in Europe and 60,000 in the USA. Among AML patients, it is estimated that approximately 50% of the patients will not have stem cell transplantation and will relapse. Therefore, the estimated targeted population of AB8938 in AML is around 80,000 people in Europe and the US.

References
[1] Goubard A, Humbert M, Mansfield C, Hermine O, Dubreuil P, et al. In Vivo Assessment of the Next Generation Microtubule-Destabilizing Agent AB8939 in Patient-derived Xenograft Models of Acute Myeloid Leukemia. Blood (2019) 134 (Supplement_1): 5142. doi.org/10.1182/blood-2019-127143

[2] Goubard A, Humbert M, Mansfield C, Hermine O, Dubreuil P, et al. AB8939, a Microtubule-Destabilizing
Agent with Potential to Overcome Multidrug Resistance, is Active Across the Range (M0–M7) of Acute Myeloid Leukemia Subtypes. Blood (2019) 134 (Supplement_1): 5154. doi.org/10.1182/blood-2019-127021

[3] Humbert M, Goubard A, Mansfield C, Hermine O, Dubreuil P, et al. Anticancer Activity of a Highly Potent Small Molecule Tubulin Polymerization Inhibitor, AB8939. Blood (2019) 134 (Supplement_1): 2075. doi.org/10.1182/blood-2019-122540

[4] Press release dated November 7, 2019

[5] National Cancer Institute (View Source)