Oncoinvent Secures NOK 250 M in an oversubscribed Pre-IPO Funding Round

On June 29, 2021 Norway Oncoinvent AS, a clinical stage company advancing a pipeline of radiopharmaceutical products across a variety of solid cancers, reported that the company has raised NOK 250 million in an oversubscribed pre-IPO financing round syndicated by existing investors Hadean Ventures, Geveran, RADFORSK Investeringsstiftelse, Sundt, Must Invest, Canica, MP Pensjon and Watrium. The net proceeds from the Private Placement are expected to ensure financing past end of 2023 for its lead product candidate Radspherin, including financing of two clinical phase 2A studies (in ovarian cancer and colorectal cancer) as well as the advancement of the company’s proprietary targeted radiotherapy candidates. Oncoinvent has raised a total of NOK 535 million to date. The closing marks the last round of planned funding before Oncoinvent goes to its contemplated initial public offering (IPO) which the intends to carry out in the coming twelve months.

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"We are pleased by the response to our private placement offering from both new investors and those who had previously invested in the company," said Jan A. Alfheim, Oncoinvent CEO. "The demand was such that we increased the placement from NOK 200 million to NOK 250 million. The additional funding will allow the company to initiate preclinical development of our proprietary antibodies OI-1 and OI-3 in order to develop our pipeline of targeted radiotherapeutics one year earlier than planned."

Roy H. Larsen, Board Chair stated, "We are pleased to secure financing for developing Oncoinvent further and we thank our existing shareholders and new investors for their strong support."

Ingrid Teigland Akay, Managing Partner of Hadean Ventures and board member of Oncoinvent commented: "The strong demand from investors reflects both the growing interest we see in the radiopharmaceutical space, as well as the conviction in the Oncoinvent management, which has demonstrated the ability to execute on their strategy. We are pleased with the outcome of this financing round, enabling the next stage of the lead asset and an accelerated plan for the pipeline."

The Company intends to carry out a repair offering of up to 961,538 new shares at the same subscription price towards shareholders in the Company as of the 25th June 2021 (as registered in VPS on the 29th June 2021), who were not allocated shares in the Private Placement.

Portage Biotech Added to Russell 2000® Index

On June 29, 2021 Portage Biotech Inc., (NASDAQ: PRTG) ("Portage" or the "Company") a clinical-stage immuno-oncology company focused on the development of therapies targeting cancer treatment resistance, reported that the Company has been added to the Russell 2000 Index at the conclusion of the 2021 Russell Indexes annual reconstitution, effective after the U.S. market opened on June 28 (Press release, Portage Biotech, JUN 29, 2021, View Source [SID1234584460]).

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"Inclusion in the Russell 2000 index marks another key milestone for Portage, recognizing the significant steps we’ve taken over the past year to transform the company and position it to create value for shareholders," said Dr. Ian Walters, chief executive officer of Portage Biotech. "In conjunction with the recent public offering in late June 2021, inclusion in the Russell 2000 brings added visibility to our robust pipeline and the multiple data readouts we expect over the next 12-24 months. This increased visibility has enabled us to gain the confidence of fundamental biotech investors in our unique forward-looking business model and secure capital runway to advance first-in-class immuno-oncology therapies such as our invariant natural killer T cells ("iNKTs") through Phase 1/2 clinical trials. We look forward to further engaging with a growing investor base about the compelling opportunities we are developing."

Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US Indexes. Russell Indexes are part of FTSE Russell, a leading global index provider.

FTSE Russell determines membership for its Russell Indexes primarily by objective, marketcapitalization rankings and style attributes. Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, ranking them by total market capitalization.

For more information on the Russell 2000 Index and the Russell indexes reconstitution, visit the "Russell Reconstitution" section on the FTSE Russell website.

Boston Children’s Hospital and ElevateBio Announce Five-Year Cell and Gene Therapy Collaboration

On June 29, 2021 Boston Children’s Hospital, which has the largest National Institutes of Health-funded pediatric research enterprise in the United States, and ElevateBio, a cell and gene therapy technology company focused on powering transformative cell and gene therapies, reported that they have entered into a five-year collaborative agreement to advance cell and gene therapy programs originating out of Boston Children’s Hospital with an introduction to Boston Children’s translational research capabilities.

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The agreement enables Boston Children’s and ElevateBio to form multiple cell and gene therapy companies together; provides Boston Children’s researchers access to ElevateBio’s core-enabling technologies, manufacturing, and leading expertise to advance their programs; and will guarantee Boston Children’s researchers dedicated viral-vector manufacturing space at ElevateBio BaseCamp, ElevateBio’s centralized world-class research and development manufacturing center. In addition, under this agreement, ElevateBio will commit to sponsored research agreements with Boston Children’s investigators as part of the company formation process.

"At Boston Children’s Hospital, we are proud of the foundation we’ve established as a leading innovator in cell and gene therapy, so collaborating with ElevateBio – a company so well-positioned to change the face of cell and gene therapy forever – is a natural fit into our overall vision," said David Williams, M.D., formerly Senior Vice President for Research and Chief Scientific Officer, currently Chief of Hematology / Oncology, Boston Children’s Hospital. "Using ElevateBio’s world-class enabling technologies, this alliance will help catalyze the science being conducted in the labs across Boston Children’s, moving potential treatments into the clinic and accelerating the development of multiple cell and gene therapy platforms."

"Boston Children’s Hospital is committed to accelerating the translation of our research into treatments that will improve patients’ lives," said Irene Abrams, Vice President of Technology Development and New Ventures, Boston Children’s Hospital. "and this relationship with ElevateBio is a key part of that effort."

"At ElevateBio, we have built unique end-to-end capabilities that leverage our suite of enabling technologies, technologic know-how, and world-class expertise to advance our own innovative cell and gene therapies as well as accelerate those of industry and academic collaborators," said David Hallal, Chairman and Chief Executive Officer of ElevateBio. "Boston Children’s Hospital has a strong history of innovation in the cell and gene therapy sector through ground-breaking science and spinning out companies to deliver medicines to patients. Through this collaboration, we’re excited to work with the team at Boston Children’s to form new companies, the first of which we’ve identified and will announce later this year, and also enable access to our cutting-edge viral vector manufacturing facilities that will help Boston Children’s researchers move their therapies through development more efficiently."

Nordic Life Science Days digital conference, April 20-23, 2021

On June 29, Bioneer reported that we will be participating in the Nordic Life Science Days 2021, from April 20th to 23rd (Press release, Bioneer, JUN 29, 2021, View Source [SID1234584839]).

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Nordic Life Science Days is the largest Nordic partnering conference dedicated to the life science industry. This year the event will be in a digital format, where Bioneer will have a virtual booth, where you will find all information about our company and our high quality service.

You can book a meeting with our Sales and Business Development Manager Lovisa Sunesson on the Nordic Life Science Days platform, contact us via the available online chat or by mail .

Moreover you will be able to hear more about our company and specifically our disease modelling in our company presentation featuring Christian Clausen, Chief Scientific Officer at Bioneer.

Precision BioSciences and SpringWorks Therapeutics Dose First Patient in Expanded Phase 1/2a Clinical Trial Evaluating PBCAR269A with Nirogacestat in Patients with Relapsed/Refractory Multiple Myeloma

On June 28, 2021 Precision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage biotechnology company developing allogeneic CAR T and in vivo gene correction therapies with its ARCUS genome editing platform, and SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, reported that the first patient has been dosed in the combination arm of Precision’s Phase 1/2a trial evaluating PBCAR269A (Press release, Precision Biosciences, JUN 28, 2021, View Source [SID1234584395]). In the study, Precision’s investigational allogeneic BCMA-targeted CAR T cell therapy will be combined with nirogacestat, SpringWorks’ investigational gamma secretase inhibitor (GSI), in patients with relapsed/refractory (R/R) multiple myeloma.

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"We are pleased to begin dosing patients in the combination arm of our ongoing Phase 1/2a study evaluating PBCAR269A, our first-generation allogeneic CAR T candidate targeting BCMA in patients with R/R multiple myeloma. BCMA is a well-established therapeutic target for multiple myeloma and this arm of the study pairs PBCAR269A with SpringWorks’ nirogacestat, a gamma secretase inhibitor, a combination intended to offer strong mechanistic rationale for clinical benefit," said Alan List, M.D., Chief Medical Officer at Precision BioSciences. "As we look forward to sharing interim monotherapy data for PBCAR269A later this year, we are also conducting IND enabling studies to advance PBCAR269B, an immune-evading, stealth cell formulation into the clinic in 2022. We have high conviction in both our technology and BCMA as a target and we are pursuing a broad, data-driven strategy to inform our future development plans for this indication."

"We are pleased to advance this combination into the clinic so we can evaluate if nirogacestat paired with PBCAR269A offers a safe and efficacious treatment option for patients with multiple myeloma," said Saqib Islam, Chief Executive Officer of SpringWorks Therapeutics. "We have made significant progress in developing nirogacestat as a cornerstone of BCMA combination therapy across modalities and look forward to generating clinical data with all of our partners."

In September 2020, Precision and SpringWorks entered into a clinical collaboration in which Precision is sponsoring the expanded Phase 1/2a study of PBCAR269A to include nirogacestat and evaluate the safety and preliminary clinical activity of the combination therapy. Simultaneously, Precision continues to enroll patients in the highest dose cohort (Dose Level 3 at 6.0 × 106 cells/kg) in its monotherapy study with PBCAR269A.

About PBCAR269A (Clinical Trials Study Identifier: NCT04171843)

PBCAR269A is an allogeneic BCMA-targeted CAR T cell therapy candidate being evaluated for safety and preliminary clinical activity in a Phase 1/2a multicenter, nonrandomized, open-label, parallel assignment, single-dose, dose-escalation, and dose-expansion study of adults with relapsed/refractory (R/R) multiple myeloma. The starting dose of PBCAR269A is 6 x 105 CAR T cells/kg body weight with subsequent cohorts receiving escalating doses to a maximum dose of 6 x 106 CAR T cells/kg body weight.

PBCAR269A is part of a pipeline of cell-phenotype optimized allogeneic CAR T therapies derived from healthy donors and then modified via a simultaneous TCR knock-out and CAR T knock-in step with the Company’s proprietary ARCUS genome editing technology. Precision BioSciences optimizes its CAR T therapy candidates for immune cell expansion in the body by maintaining a high proportion of naïve and central memory CAR T cells.

The U.S. Food and Drug Administration (FDA) granted Fast Track Designation to PBCAR269A for the treatment of R/R multiple myeloma for which the FDA previously granted Orphan Drug Designation. The PBCAR269A clinical trial is being conducted at multiple U.S. sites.

About Nirogacestat

Nirogacestat is an investigational, oral, selective, small molecule gamma secretase inhibitor in Phase 3 clinical development for desmoid tumors, which are rare and often debilitating and disfiguring soft-tissue tumors. Gamma secretase cleaves multiple transmembrane protein complexes, including Notch, which is believed to play a role in activating pathways that contribute to desmoid tumor growth.

In addition, gamma secretase has been shown to directly cleave membrane-bound BCMA, resulting in the release of the BCMA extracellular domain, or ECD, from the cell surface. By inhibiting gamma secretase, membrane-bound BCMA can be preserved, increasing target density while reducing levels of soluble BCMA ECD, which may serve as decoy receptors for BCMA-directed therapies. Nirogacestat’s ability to enhance the activity of BCMA-directed therapies has been observed in preclinical models of multiple myeloma. SpringWorks is evaluating nirogacestat as a BCMA potentiator and has six collaborations with industry-leading BCMA developers to evaluate nirogacestat in combinations across modalities, including with an antibody-drug conjugate, two CAR T cell therapies and two bispecific antibodies. In addition, SpringWorks and Fred Hutchinson Cancer Research Center have entered into a sponsored research agreement to further characterize the ability of nirogacestat to modulate BCMA and potentiate BCMA directed therapies using a variety of preclinical and patient-derived multiple myeloma models developed by researchers at Fred Hutch.

Nirogacestat has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of desmoid tumors and from the European Commission for the treatment of soft tissue sarcoma. The FDA also granted Fast Track and Breakthrough Therapy Designations for the treatment of adult patients with progressive, unresectable, recurrent or refractory desmoid tumors or deep fibromatosis.