On March 31, 2021 Outpace Bio, a biotechnology company building a platform to create next-generation smart cell therapies, reported the closing of a $30 million Series A financing round (Press release, Outpace Bio, MAR 31, 2021, View Source [SID1234637769]). The oversubscribed financing was led by ARTIS Ventures and Lyell Immunopharma, Inc., with additional participation from Abstract Ventures, Civilization Ventures, Mubadala Capital (the asset management arm of Mubadala Investment Company), Playground Global, Sahsen Ventures, and WRF Capital. Funding will be used to demonstrate proof of principle for Outpace’s platform. In addition to closing the financing round, Outpace has entered into a collaboration with Lyell Immunopharma for joint research and subsequent development and commercialization by Lyell of a potential immune cell therapy for the treatment of cancer.

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Creating next-generation smart cell therapies

Certain diseases have remained incurable despite decades of effort because they are too complex for any single molecule to solve. Outpace is building a platform to improve the safety and efficacy of cell and gene-based therapies.

"Diseases like cancer and autoimmunity happen when cells default to the wrong decisions. A biological activity that is beneficial in one context can drive dysfunction or toxicity in another. Outpace is working to overcome this by reprogramming cells to make the right decisions in the right context," said Marc Lajoie, CEO and co-founder of Outpace. "We believe that cures will require the full power of cells to intervene in complex biology in ways that small molecule drugs and biologics cannot."

Just as custom-designed software and hardware have enabled modern smartphones to revolutionize how people interact with information, Outpace custom-designs biological software and hardware to revolutionize how cells interact with disease. Outpace’s built-for-purpose proteins unlock biological functions that off-the-shelf parts cannot. Initial proof points are focused on creating highly functional, ultra-specific T cell therapies that will be effective against solid tumors, while also laying the groundwork to solve similar problems across the cell and gene therapy field.

"Outpace creates a unique opportunity to drive efficacy in cell and gene therapies without compromising on safety. The way to do that is by engineering new biology that can’t be achieved by repurposing nature – custom-designed proteins provide a unique opportunity to address specific therapeutic needs," said Vasudev Bailey, PhD, senior partner at ARTIS Ventures. "We believe the Outpace team has the knowledge and passion to revolutionize this field in close collaboration with other pharma and biotech leaders."

Outpace and Lyell to supercharge anticancer T cell therapies

Under the collaboration agreement, Outpace and Lyell will use Outpace’s technologies in an effort to unlock the biology of a cytokine that the companies believe has the potential to dramatically improve efficacy in treating patients with cancer, but would require careful control to avoid systemic toxicity.

"Outpace’s technology holds promise to enable the efficacy of this cytokine without the toxicity," said Rick Klausner, founder and executive chairman of Lyell. "Outpace’s approach is unique in its ability to directly modulate this biology, and we look forward to working with them."

The collaboration enables Outpace to combine its mechanism-driven approach to reprogramming biological function with Lyell’s translation expertise and deep mechanistic understanding of biology. Outpace plans to forge additional partnerships with other industry leaders to bring cell and gene therapies to the clinic, leveraging its platform to accelerate the development of new cures.

On March 31, 2021 AbbVie (NYSE: ABBV) reported that it will announce its first-quarter 2021 financial results on Friday, April 30, 2021, before the market opens (Press release, AbbVie, MAR 31, 2021, View Source [SID1234577431]). AbbVie will host a live webcast of the earnings conference call at 8 a.m. Central time. It will be accessible through AbbVie’s Investor Relations website investors.abbvie.com. An archived edition of the session will be available later that day.

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On March 31, 2021 Celsion Corporation (NASDAQ: CLSN) ("Celsion" or the "Company"), reported it has entered into definitive agreements with institutional investors for the purchase and sale of 11,538,462 shares of its common stock at a purchase price of $1.30 per share in a registered direct offering, for gross proceeds of $15 million before deducting placement agent fees and expenses (Press release, Celsion, MAR 31, 2021, View Source [SID1234577448]). The closing of the offering is expected to occur on or about April 5, 2021, subject to the satisfaction of customary closing conditions.

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A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

JonesTrading Institutional Services LLC and Brookline Capital Markets, a division of Arcadia Securities, LLC, are acting as co-placement agents for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254515) previously filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at View Source Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the 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.

On March 31, 2021 The nonprofit Pennsylvania Biotechnology Center (PABC), one of the nation’s most successful life sciences incubators, reported a new collaboration that includes a pledge by Daiichi Sankyo to become an investor in the fund managed by Hatch Biofund Management LLC (Press release, Daiichi Sankyo, MAR 31, 2021, https://www.businesswire.com/news/home/20210331005113/en/Pennsylvania-Biotechnology-Center-PABC-announces-new-collaboration-and-10-million-investment-pledge-from-Daiichi-Sankyo-Inc. [SID1234577465]).

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An investment of $10 million has been committed by Daiichi Sankyo to Hatch Biofund 1, which was created by the Baruch S. Blumberg Institute as a companion to their Incubator and BioAccelerator. The PABC is managed by the Blumberg Institute. Hatch Biofund is currently in a fundraising mode with plans to raise $50 million with a first close within months.

Louis P. Kassa, the PABC’s executive vice president and chief operating officer, said, "Having Daiichi Sankyo join our innovation ecosystem is a big win for the PABC and our nearly 80 member companies, and it’s a win for Bucks County, the Philadelphia region and the Commonwealth of Pennsylvania as well."

Daiichi Sankyo’s interests in oncology and cell and gene therapy align well with the current PABC incubator.

"This collaboration provides Daiichi Sankyo with access to the new therapeutics under development in the incubators as well as a front row seat at the birth of the new cell and gene therapy industry here in our region," Vlad Walko, CEO of Hatch, said. "The lead investment in Hatch reflects Daiichi Sankyo’s confidence in the PABC model and in the Philadelphia region as a major biotech hub."

Daiichi Sankyo, one of the largest pharmaceutical companies in Japan with sales of more than $9 billion, has its U.S. headquarters in Basking Ridge, N.J. "At Daiichi Sankyo, we are committed to exploring and investing in a variety of avenues to improve health and extend lives," said Stu Mackey, Global Head of Business Development, Daiichi Sankyo. "We are proud to partner with the Pennsylvania Biotechnology Center to support the advancement of companies that share our goals for better global human health."

On March 31, 2021 Tyra Biosciences, a biotech company targeting acquired resistance in oncology with purpose-built drugs, reported the closing of a $106 million Series B financing to accelerate and expand its in-house drug discovery platform, SNÅP, and to advance its pipeline of novel, small molecule therapies into the clinic (Press release, Tyra Biosciences, MAR 31, 2021, View Source [SID1234586908]).

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The financing is led by new investor Nextech Invest and includes participation from Cormorant Asset Management, BVF Partners, L.P., Janus Henderson Investors, and Logos, as well as returning investors Alta Partners, RA Capital, Boxer Capital of Tavistock Group, and Canaan. Melissa McCracken, Ph.D. from Nextech Invest will join the TYRA Board of Directors.

"We warmly welcome Melissa to our Board of Directors, and the addition of top-tier crossover investors to our strong financing syndicate," said Todd Harris, Founder and Chief Executive Officer of Tyra Biosciences. "At Tyra, we are driven to overcome the desperation faced by patients in the moment their therapy stops working. This financing enables the acceleration and expansion of our mission to deliver therapies that are purpose-built for each new acquired resistance, so that for patients living with cancer, there is always a new hope."

With this raise, TYRA also announces the expansion of its executive leadership team, including:
— Hiroomi Tada, MD, Ph.D., Chief Medical Officer
— Piyush Patel, Ph.D., Chief Development Officer; and
— Robert L. Hudkins, Ph.D., promoted to Chief Technology Officer.

"Tyra has assembled a dynamic and experienced team that is bringing unprecedented speed, clarity, and focus to structure-based drug discovery through purposeful process optimization and prioritization of real-world, empirical data," said Dr. McCracken, Principal at Nextech Invest. "I am pleased to join the Board of Directors at Tyra, which is well positioned to deliver on their vision of accelerating the development of new therapies targeting acquired resistance in oncology."

TYRA’s in-house discovery engine, SNÅP, enhances traditional structure-based drug discovery through the generation of rapid and sequential "structural SNÅPshots" that enable the empirical (observational) evaluation of atomic-level interactions between drug and target.

"At Tyra, we’ve built in-house tools and expertise to shorten the timeline for generating crystal structures, deep cellular profiles, and data from in vivo models to days rather than weeks," said Robert Hudkins, Ph.D., Chief Technology Officer at Tyra Biosciences. "This vast amount of empirical data forms comprehensive ‘structural SNÅPshots’ that we use to refine molecular designs down to the tenth of an angstrom on a weekly cycle."

The first drug candidates developed using the SNÅP platform are expected to be nominated for development in 2021 and advance to the clinic in 2022.

"The rigor, fidelity, and speed of the SNÅP platform drives rapid discovery cycles towards novel drug candidates differentiated through achieving precise structural fit to their targets," said Hiroomi Tada, MD, Ph.D., Chief Medical Officer at Tyra Biosciences. "I am excited to join Tyra at this early stage to ensure that this ethos is extended to our approach to clinical development as we relentlessly advance new therapies for patients."