On April 8, 2021 Viracta Therapeutics, Inc. (Viracta or the Company), a precision oncology company targeting virus-associated malignancies, reported that Company management will present at the 20th Annual Needham Virtual Healthcare Conference taking place April 12-15, 2021 (Press release, Viracta Therapeutics, APR 8, 2021, View Source [SID1234577762]). The Company will also participate in one-on-one investor meetings at the conference.

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On April 8, 2021 Stockholm-based Sprint Bioscience, which conducts early preclinical drug development primarily targeting cancer, reported that it had raised 20.7 MSEK in a share issue directed at a group of existing and external investors (Press release, Sprint Bioscience, APR 8, 2021, View Source [SID1234577884]). BioStock has contacted the company’s CEO Erik Kinnman to find out more about what it means for the company.

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The biotechnology company Sprint Bioscience specialises in early preclinical development of drug candidates, primarily aimed at treating cancer. Today, the company’s portfolio consists of five development projects, where the goal is to reach early outlicensing to partners who can advance them to clinical testing and onwards.

So far, two projects from the company’s existing portfolio have been outlicensed; oncology project PETRA01, where the company collaborates with the cancer drug developer HiberCell, and a NASH project that is being developed together with South Korean biotech company LG Chem.

Strengthened cash position with directed issue
On Thursday, Sprint Bioscience announced that it had completed a directed issue of 20.7 MSEK. This corresponds to a discount of approximately 12 per cent compared to the closing price on April 7. For shareholders who did not participate in the issue, the issue will mean a dilution of approximately 16 per cent in total. In connection with the issue, the company pays back an outstanding loan of 10 MSEK.

You have now strengthened the cash position by 20.7 MSEK. Why did you choose to strengthen the company’s financial situation through a directed issue?

– With this issue, we have been able to increase the company’s shareholding among qualified investors, both existing and new. The interest is a sign of an understanding of the potential of our portfolio of innovative drug candidates and our business model.

What does this latest capital injection mean for the company?

– The strengthened cash position allows us to accelerate activities in our various projects as well as in business development. All to build shareholder value and continue to deliver drug candidates that are attractive to potential licensees and that could eventually become new unique drugs for cancer patients with medical needs who need alternative treatments.

How would you describe the financial situation in the company in relation to the capital requirement going forward?

– The capital requirements are now met for the near future. This enables continued value-building development of our portfolio and strengthens opportunities for deliveries in terms of our licensing activities.

The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.

On April 8, 2021 Portage Biotech reported that began the first human study of its invariant natural killer T-cell agonist, PORT-3, in patients with advanced or metastatic solid tumors that express NY-ESO-1 (Press release, Portage Biotech, APR 8, 2021, View Source [SID1234579565]).

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The drug is a coformulation of the invariant natural killer T-cell agonist and a tumor-specific antigen targeting NY-ESO-1. The Phase I dose escalation study, called PRECIOUS-01, will evaluate PORT-3 at three dose levels in about 15 participants. Study participants are being screened for NY-ESO-1 expression using immunohistochemistry.

Researchers will use an IHC assay to measure participants’ immune responses and determine the composition of immune cell subsets before and after treatment with PORT-3 to establish the recommended Phase II dose. They will also measure the immunological responses in blood to determine the functional response of invariant natural killer T cells and T cells.

Portage is currently developing two invariant natural killer T-cell agonists, PORT-2 and PORT-3. "Preclinical studies of both compounds have shown that treatment can lead to a broad reprogramming of the immune system," Portage CEO Ian Walters said in a statement. "We are excited to begin first-in-human trials of PORT-3 to test the proof-of-concept of this approach. If the trial is successful with NY-ESO-1, it will open the door to a multitude of opportunities to design more formulations with other tumor-specific antigens."

The PRECIOUS-01 trial is funded by the EU Horizon 2020 program and recruitment has begun at Radboud University in the Netherlands.

On April 8, 2021 Context Therapeutics, a clinical-stage women’s oncology company developing advanced small molecule and immunotherapy treatments to transform care for hormone-driven breast and gynecological cancers, and Integral Molecular, the leader in discovering antibodies against multipass membrane proteins, reported a research collaboration and licensing agreement for the development of an anti-claudin 6 (CLDN6) bispecific monoclonal antibody (BsMAb) for gynecologic cancer therapy (Press release, Context Therapeutics, APR 8, 2021, View Source [SID1234577714]).

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CLDN6 is a membrane protein expressed in multiple cancers, including ovarian, endometrial, lung and gastric cancers. The protein is absent from healthy adult tissues and high levels in patient tumors are correlated with poor prognosis.

Under the terms of the agreement, Integral Molecular and Context will develop CLDN6 bispecific antibodies that trigger the activation of T cells and eliminate cancer cells displaying CLND6. Context will conduct preclinical and all clinical development, as well as regulatory and commercial activities through exclusive worldwide rights to develop and commercialize the novel CLDN6 candidates. Integral Molecular will receive an undisclosed upfront payment and will be eligible to receive development, regulatory and sales milestone payments and high-single-digit to low-double-digit percent royalties on net sales. IND-enabling studies of the first BsMAb candidate are expected to commence in 2022, with advancement to clinical stage anticipated in 2023.

"The structural complexity of CLDN6 and its similarity to proteins expressed on healthy tissue have previously limited its exploitation for targeted oncology therapies," said Martin Lehr, chief executive officer of Context. "By combining Integral Molecular’s expertise in the field of antibody discovery and Context’s experience developing therapies for women’s cancers, we hope to develop a best-in-class targeted therapeutic for CLDN6-positive gynecologic tumors."

To overcome the challenges associated with antibody discovery against CLND6, Integral Molecular employed its MPS antibody discovery platform designed to isolate antibodies against the most challenging membrane protein targets.

"Our CLDN6 monoclonal antibody exhibits best-in-class target selectivity," said Benjamin Doranz, Ph.D., chief executive officer of Integral Molecular. "There is a strong need for therapies that provide more specific and less toxic treatments for gynecologic cancers, and we look forward to our partnership with Context that will enable better treatments for women."

On April 8, 2021 Plus Therapeutics, Inc. (Nasdaq: PSTV) (the "Company"), a clinical-stage pharmaceutical company developing novel, targeted and personalized therapies for rare and difficult to treat cancers, reported that the Company will report first quarter 2021 financial results on Thursday, April 22, 2021, after market close (Press release, Cytori Therapeutics, APR 8, 2021, View Source [SID1234577730]). Plus Therapeutics’ management team will then host a conference call and webcast at 5:00 p.m. Eastern Time to discuss the financial results and provide a corporate update.

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A live webcast will be available at ir.plustherapeutics.com/events

Please refer to the information below for conference call dial-in information. Callers should dial in approximately 10 minutes prior to the start of the call.

Conference dial-in: 877-402-3914
International dial-in: 631-865-5294
Conference ID: 3084418
Conference Call Name: Plus Therapeutics First Quarter 2021 Results Conference Call
Following the live call, a replay will be available on the Company’s website under the ‘Investor Relations’ section. The webcast will be available on the Company’s website for 90 days following the live call.