Debiopharm Grants a Worldwide Exclusive License to Merck KGaA, Darmstadt, Germany for the Development and Commercialization of Xevinapant

On March 18, 2021 Debiopharm (www.debiopharm.com), a Swiss-based global biopharmaceutical company, reported the signature of an exclusive license agreement with Merck KGaA, Darmstadt, Germany , a leading science and technology company, for the development and commercialization of xevinapant (Debio 1143) (Press release, Debiopharm, MAR 18, 2021, View Source [SID1234576866]). Xevinapant, a potent, oral of Inhibitor of Apoptosis Proteins (IAP) antagonist, is the only medicine in its class in late-stage clinical development and has the potential to be first in class. Xevinapant is currently being investigated in the pivotal Phase III TrilynX study for previously untreated high-risk locally advanced squamous cell carcinoma of the head and neck (LA SCCHN), in combination with platinum-based chemotherapy and standard fractionation intensity-modulated radiotherapy. Given their strong commercial footprint in the field of head and neck cancer, Merck KGaA, Darmstadt, Germany is the partner of choice to leverage our outstanding phase II data and make xevinapant a transformative therapy for cancer patients.

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Under the terms of the license agreement, Merck KGaA, Darmstadt, Germany receives exclusive rights to develop and commercialize xevinapant worldwide, including in the U.S. Merck KGaA, Darmstadt, Germany will also co-fund with Debiopharm the ongoing Phase III registrational TrilynX study, a global double-blind, placebo-controlled, 700-patient randomized clinical trial to evaluate the efficacy and safety of xevinapant vs. placebo when added to definitive chemoradiotherapy (CRT) in cisplatin-eligible patients with high-risk LA SCCHN.

This global license agreement is a significant achievement that rewards the clinical development efforts conducted by Debiopharm while demonstrating the agility and relevance of the company’s specific and unique business model. By focusing on drug development, Debiopharm can bridge the most innovative discoveries with the best commercial pharmaceutical partners.

"At Debiopharm we are driven by the ambition to cure. Our business model is led by the needs of patients and unmet medical needs. The data for xevinapant to date demonstrate an extremely important potential to improve the standard treatment for patients with head and neck cancer, an indication for which no new treatment has been registered for several decades, Merck KGaA, Darmstadt, Germany’s in-depth knowledge of head and neck cancer and their worldwide commercial capabilities, make them an exceptionally qualified partner to move xevinapant forward, and position it as the next gold standard of care in head and neck cancer and potentially in other indications."
– Bertrand Ducrey, Chief Executive Officer of Debiopharm.

"By bringing our expertise and heritage in head and neck cancer to the development of xevinapant, we have the opportunity to explore an important new treatment option in an area of high unmet need where other approaches, including immunotherapy, have seen limited success, The promising long-term efficacy of xevinapant in the Phase II clinical study suggests that antagonism of IAP has the potential to be a transformative approach in this cancer. We will build on this strong proof of concept, shown in Debiopharm’s robust clinical program for xevinapant, as we continue to develop this potential new standard of care."
– Peter Guenter, Member of the Executive Board of Merck KGaA, Darmstadt, Germany and CEO Healthcare

"Locally advanced head and neck cancer is uniquely debilitating, often impairing the ability to swallow, speak and breathe. With the current standard treatments, at least half of patients will relapse, typically within the first two years. Based on the efficacy seen in the Phase II study, in which adding xevinapant to CRT cut the risk of death by half, this investigational medicine has the potential to offer a much-needed new standard of care."
– Prof. Jean Bourhis, Department Head of Radio-Oncology at the University Hospital of Lausanne and lead investigator of the Phase III TrilynX study.

Previously reported results from the randomized, double-blind Phase II clinical study showed the addition of xevinapant to standard-of-care CRT provided a statistically significant 21% point improvement in locoregional control rate at 18 months, the primary endpoint, vs. placebo and CRT in patients with high-risk LA SCCHN (54% [95% CI: 39 to 69] vs. 33% [95% CI: 20 to 48]; odds ratio 2·69 [95% CI: 1·13 to 6·42]; p=0·026). A significant progression-free survival (PFS) benefit was also observed vs. the control arm after a two-year follow-up period (HR=0.37, 95% CI: 0.18 to 0.76; p=0.0069). At three years of follow-up, xevinapant plus CRT showed a statistically significant 51% reduction in the risk of death versus placebo plus CRT (HR=0.49, 95% CI: 0.26 to 0.92; p=0.0261). About two-thirds of patients in the xevinapant arm were alive at three years, compared with 51% in the control arm.

In February 2020, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to xevinapant for treatment of patients with confirmed diagnosis of previously untreated LA SCCHN in combination with current standard of care, platinum-based chemotherapy and standard-fractionation intensity-modulated radiotherapy, based on the Phase II results.

About Head and Neck Cancer
Worldwide, head and neck cancer accounts for more than 650,000 cases and 330,000 deaths annually, making it the 6th most common cancer type. LA SCCHN is a highly debilitating disease that can lead to impaired breathing, swallowing, and speech as it progresses. Despite standard of care CRT, at least 40% to 60% of patients with LA SCCHN develop locoregional or distant relapses, which are usually detected within the first two years of treatment, underscoring the need to identify new therapeutic approaches.

About xevinapant
Xevinapant (Debio 1143) is a potential first-in-class potent oral antagonist of IAPs (Inhibitor of Apoptosis Proteins). In preclinical studies, xevinapant restores sensitivity to apoptosis in cancer cells, thereby depriving them of one of their major resistance mechanisms. As the most clinically advanced IAP antagonist, xevinapant has established proof of efficacy in combination with chemoradiotherapy (CRT) in patients with high-risk locally advanced squamous cell carcinoma of the head and neck (LA SCCHN), with a clinically significant and sustained clinical benefit compared with CRT alone.

Debiopharm’s commitment to patients
Debiopharm develops innovative therapies that target high unmet medical needs in oncology and infectious diseases. Bridging the gap between disruptive discovery products and real-world patient reach, we identify high-potential compounds and technologies for in-licensing, clinically demonstrate their safety and efficacy and then select large pharmaceutical commercialization partners to maximize patient access globally. Debiopharm is known for the development of oxaliplatin, worldwide gold standard treatment in colorectal cancer and of triptorelin, a standard of care for the treatment of prostate cancer. Xevinapant is well positioned to become the third transformative therapy arising from Debiopharm in oncology.

Xcovery Announces the Appointment of Giovanni Selvaggi as Chief Executive Officer

On March 18, 2021 Xcovery Holdings, Inc., an oncology focused bio-pharmaceutical company, reported that Giovanni Selvaggi, M.D., has been appointed as the Chief Executive Officer (CEO), replacing Li Mao, M.D., who is leaving for personal reasons (Press release, Xcovery, MAR 18, 2021, View Source [SID1234576882]). Dr. Selvaggi will also continue as Xcovery’s Chief Medical Officer (CMO).

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"Giovanni is the right leader for Xcovery," said Lieming Ding, M.D., Chairman of the Board. "For the past two years, Giovanni has been successfully driving forward the ensartinib and vorolanib clinical programs as the company CMO. His proven leadership and industry expertise will be crucial for the regulatory and commercial success of our drugs."

"Xcovery is at a critical yet very exciting juncture," stated Dr. Selvaggi. "I’m ready to take on the new challenges and responsibilities. We have a very good late stage clinical program in ensartinib, which has the potential to be the best-in-class treatment for ALK+ NSCLC patients. We are taking the drug over the finish line so NSCLC patients can have a new option to fight the disease."

Dr. Selvaggi received his medical degree at the University of Torino Medical School in 1992 and served as physician of Thoracic Oncology in Torino over a span of 16 years. Dr. Selvaggi joined the pharmaceutical industry in 2010 as a medical director at GlaxoSmithKline. He then played an instrumental role in the successful development and registration of ceritinib (Zykadia) at Novartis. Dr. Selvaggi was also at Bristol-Myers Squibb as Program Lead in different thoracic malignancies with a focus on SCLC. From March 2019, Dr. Selvaggi has been the Chief Medical Officer at Xcovery.

Navidea Biopharmaceuticals to Host Fourth Quarter 2020 Earnings Conference Call and Corporate Update

On March 17, 2021 Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) ("Navidea" or the "Company"), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, reported it will host a conference call and webcast on Wednesday, March 24, 2021 at 5:00 p.m. (EDT) to discuss financial results and corporate developments for the fourth quarter ended December 31, 2020 (Press release, Navidea Biopharmaceuticals, MAR 17, 2021, View Source [SID1234576775]).

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Jed Latkin, Chief Executive Officer, Dr. Michael Rosol, Chief Medical Officer, and Joel Kaufman, Chief Business Officer, will host the call and webcast to discuss the financial results and provide an update on recent developments and clinical progress. Management will be available to answer questions live immediately following the earnings announcement and prepared remarks portion of the call.

To participate in the call and webcast, please refer to the information below:

A live audio webcast of the conference call will also be available on the investor relations page of Navidea’s corporate website at www.navidea.com. In addition, the recorded conference call can be replayed and will be available for 90 days following the call on Navidea’s website.

CD&R, Merck GHI, and McKesson Ventures Invest in Innovative Oncology Data and Informatics Company M2GEN

On March 17, 2021 M2GEN reported a significant new investment by Clayton, Dubilier & Rice ("CD&R") funds, the Merck Global Health Innovation Fund ("Merck GHI"), and McKesson Ventures to recapitalize M2GEN, a leading oncology data and informatics platform focused on transforming cancer care, in partnership with its existing shareholders (Press release, M2Gen, MAR 17, 2021, View Source [SID1234576800]). The financial terms of the transaction, which closed today, were not disclosed.

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Merck GHI and McKesson Ventures invested alongside CD&R funds, collectively now the company’s largest shareholder. Existing shareholders Moffitt Cancer Center, Hearst Healthcare, and The Ohio State University Foundation continue to hold a significant minority interest M2GEN. Proceeds from the transaction are expected to accelerate growth of M2GEN’s consented, linked clinical and genomic data asset and advance the technology and informatics capabilities of the company. In conjunction with the recapitalization, Sandra E. Peterson, CD&R Operating Partner and former Group Worldwide Chairman of Johnson & Johnson, has assumed the role of Chair of the M2GEN board.

In conjunction with the transaction, M2GEN will bolster its existing senior management team led by President and CEO Helge Bastian, Ph.D., with two experienced executive hires: Todd Johnson, M.D., most recently Senior Vice President of Life Sciences Commercialization and Clinical Research Groups at Optum, as Chief Growth Officer, and Wilf Russell, a seasoned technology leader with experience from companies including Volvo, Nike, and Microsoft, as Chief Technology Officer.

M2GEN runs one the world’s largest observational research studies in cancer, which tracks patients throughout their lifetime, links longitudinal clinical data with molecular information, and enables a deeper understanding of a patient’s disease. M2GEN has established one of the largest and most comprehensive linked clinical and genomic databases in the country, empowering innovative, collaborative cancer research and supporting the development of novel oncology drugs by its biopharmaceutical partners.

M2GEN’s data platform includes more than 300,000 patients across its alliance of leading cancer research centers, known as the Oncology Research Information Exchange Network (ORIEN). ORIEN members benefit through collaborative research and shared data; M2GEN’s biopharmaceutical partners benefit through access to the network and a dataset that supports clinical trial design, patient recruiting and new therapy development; and the ultimate beneficiaries are patients, as this process informs new drug treatment options.

"M2GEN is purpose-driven and patient-centric, and we believe it will impact healthcare for the next generation by connecting patients, providers, researchers, and pharma R&D to fundamentally change the way cancer is studied and treated," said Sarah Kim, CD&R Partner. "CD&R has spent significant time evaluating the real-world data market within pharma services and sees a tremendous opportunity to join forces with an exceptional group of shareholders to support M2GEN’s next phase of growth, drive operational excellence, and further its mission to connect patients to a cure by accelerating the discovery, development and delivery of more personalized therapies."

"Merck GHI closely tracked M2GEN for many years through our research colleagues’ collaborations first with Moffitt Cancer Center and then with M2GEN’s spin-out from Moffitt," said David M. Rubin, Ph.D., Managing Director, Merck GHI. "This syndicated investment will support the build of scaled resources that have the potential to enable the development of new medicines and precision cancer care."

"McKesson Ventures is proud to support M2GEN’s leading and comprehensive linked clinical and genomic data platform. Our investment directly reflects McKesson’s broader commitment to advance and improve community oncology care through The US Oncology Network and Ontada, our innovative oncology technology and insights business," said Dave Schulte, Senior Vice President and Managing Director, McKesson Ventures.

Ropes & Gray LLP acted as legal advisor to CD&R in connection with the transaction. Perella Weinberg Partners LP served as exclusive financial advisor and Shumaker, Loop & Kendrick, LLP acted as legal advisor to M2GEN. Green Shoots Consulting, LLC served as advisor and McDermott Will & Emery LLP acted as legal advisor to Merck GHI.

Future Planet Invests in Vaccitech’s Series B Financing

On March 17, 2021 Future Planet Capital has invested in a $168m Series B financing reported by Vaccitech Ltd. Future Planet joins other leading investors including M&G Investment Management, Tencent, Gilead Sciences, Monaco Constitutional Reserve Fund and fellow existing investor, Oxford Sciences Innovation (Press release, Vaccitech, MAR 17, 2021, View Source [SID1234576817]). As part of the Series B financing, $43 million in convertible loan notes previously issued by Vaccitech will convert into Series B shares, resulting in total gross proceeds to Vaccitech of $168 million before expenses.

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Douglas Hansen-Luke, Executive Chairman of Future Planet Capital, explained: "Our decision to support Vaccitech last year, before the results of the COVID-19 Vaccine AstraZeneca trials were known, has been vindicated by the vaccine’s approval for emergency use by national and international regulators. The success of the COVID-19 Vaccine AstraZeneca has increased our confidence in Vaccitech’s immunotherapy platform and our continuing support is signalled by our investment today."

Bill Enright, CEO of Vaccitech, said: "We expect this financing to enable us to reach key value inflection points for our lead programs. We now look forward to advancing key programs towards generating proof-of-concept data in indications with significant need of effective new treatments."

Ed Phillips, Head of Origination at Future Planet, concluded: "This is a concrete example of our vision in action – financing the best minds to address global challenges. We look forward to working with other entrepreneurs and businesses dedicated to solving global challenges in the future."

Vaccitech is a clinical stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer; in 2020 it co-invented a COVID-19 vaccine candidate with the University of Oxford, AZD1222, which is known as the COVID-19 Vaccine AstraZeneca.