Pathios Therapeutics boosted by award of significant Innovate UK funding

On March 8, 2021 Pathios Therapeutics reported that it will team up with researchers at The University of Oxford to accelerate cancer immunotherapies targeting GPR65 on immunosuppressive macrophages (Press release, Pathios Therapeutics, MAR 8, 2021, View Source [SID1234576178]).

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Pathios Therapeutics Limited ("Pathios"), an innovative biotech company focused on the development of first-in-class therapies for cancer, reported that it has been awarded £350K (approximately US$475K) in the form a Smart Grant from Innovate UK, the UK Government’s innovation agency, to accelerate their cancer immunotherapy programme targeting the innate immune checkpoint, GPR65. Pathios will collaborate on this project with researchers from the Department of Oncology at The University of Oxford to develop the key tools required to enable the rapid translation of small-molecule GPR65 inhibitors for treatment-resistant melanoma.

The advent of immunotherapy agents targeting T-cell checkpoints (PD-1/CTLA-4) has brought about significant improvements in the long-term survival of many melanoma patients. However, only a subset of patients receive sustained benefit from these treatments and it remains an ongoing challenge to identify additional therapies for the remaining non-responsive population.

Recent ground-breaking science suggests a key reason that some melanoma patients that do not respond well to anti-PD-1 therapies relates to the disarming of innate immune cells called tumour-associated macrophages (TAMs) by the acidic microenvironment that is inherent to advanced tumours. Activation of the pH-sensing receptor, GPR65, on TAMs by acidic pH leads to the suppression of a host of pro-inflammatory genes thereby shifting the characteristics of these cells from immune-stimulating to immunosuppressive(1). The importance of the GPR65 pathway in cancer is underscored by a small proportion of the population with inactivating polymorphisms showing stratified association with survival when analysed in The Cancer Genome Atlas (TCGA). Pathios’ ‘Macrophage Conditioning’ approach aims to deploy small-molecule GPR65 inhibitors to reverse pH-dependent immunosuppressive signalling in the vast majority of patients who do not carry this genetic change.

With this grant, Pathios will develop a range of tools to expedite the translation of small molecule GPR65 inhibitors for use in cancer immunotherapy. This will include the development of early clinical target engagement biomarkers as well as employing a range of bioinformatics techniques to identify those patients most likely to benefit from Pathios’ GPR65-targeted approach.

Stuart Hughes, Chief Executive Officer of Pathios: "We are delighted to have secured this highly competitive funding from Innovate UK to accelerate our programme against GPR65 and to continue to build our scientific links with cancer researchers at The University of Oxford. This award boosts our ongoing programme and is a significant endorsement of our novel approach to targeting the innate immune system in hard-to-treat cancers. We look forward to developing the tools that will drive forward our GPR65-based ‘Macrophage Conditioning’ technology and help deliver on the company’s goal to provide a first-in-class treatment approach for those melanoma patients who currently have limited treatment options".

Anixa Biosciences to Participate in M Vest LLC and Maxim Group LLC Inaugural Emerging Growth Virtual Conference

On March 8, 2021 Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, reported that Anixa’s Chief Executive Officer, Dr. Amit Kumar, has been invited to present at the Inaugural Emerging Growth Virtual Conference, presented by M Vest LLC and Maxim Group LLC (Press release, Anixa Biosciences, MAR 8, 2021, View Source [SID1234576199]). The conference will take place on March 17 and 18 from 9:00 am-5:00 pm ET featuring roundtable discussions with C-suite executives moderated by Maxim Research Analysts, fireside chats with live Q&A, and presentations from hundreds of issuers both domestically and internationally.

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During this virtual conference, Anixa will present along with other important voices in the biotech industry. Dr. Kumar will provide an overview of Anixa’s business and an update on the Company’s programs. To attend the conference, sign up to become an M-Vest member here: https://www.m-vest.com/events/2021-emerging-growth-virtual-conference.

IMV to Announce Fourth Quarter and Fiscal 2020 Financial and Operational Results and Host Conference Call and Webcast on March 17, 2021

On March 8, 2021 IMV Inc. ("IMV" or the "Corporation") (Nasdaq: IMV; TSX: IMV), a clinical-stage biopharmaceutical company pioneering a novel class of immunotherapies, reported that it will hold a conference call and webcast on Wednesday, March 17, 2021 at 8:00 a.m. Eastern Time to discuss the Company’s 2020 fourth quarter and full year financial and operational results (Press release, IMV, MAR 8, 2021, View Source [SID1234576216]).

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Financial analysts are invited to join the conference call by dialing (866) 211-3204 (U.S. and Canada) or (647) 689-6600 (international) using the conference ID: 8998652.

Other interested parties will be able to access the live audio webcast at this link: View Source The webcast will be recorded and will then be available on the IMV website for 30 days following the call.

Stockholders of NantKwest Approve Merger With ImmunityBio

On March 8, 2021 NantKwest, Inc. (NASDAQ: NK), a clinical-stage, natural killer cell-based therapeutics company, reported that its stockholders approved by the required vote each of the proposals related to the pending merger of NantKwest and ImmunityBio, Inc (Press release, NantKwest, MAR 8, 2021, View Source [SID1234576249]). presented at the special meeting of stockholders held earlier in the day, including approval of the merger by a majority of unaffiliated stockholders of NantKwest. Final voting results for NantKwest’s special meeting of stockholders will be disclosed in a Form 8-K to be filed by NantKwest with the Securities and Exchange Commission.

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The merger is expected to close on March 9, 2021, subject to the satisfaction of customary closing conditions. Following the closing of the transaction, the combined company will assume the ImmunityBio name and its shares of common stock are expected to trade on NASDAQ under the symbol "IBRX" commencing on March 10, 2021.

Female-Founded Irish Tech Companies Raise Record €105M

On March 8, 2021 Female-founded tech companies in Ireland reported that it raised more than €100 million in funding last year for the first time (Press release, Shorla Pharma, MAR 8, 2021, View Source [SID1234578121]).

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New figures published to coincide with International Women’s Day show 50 start-up and scaling companies with a female founder or co-founder secured €105 million through a mixture of venture capital, grants, equity finance and angel investments.

The achievement was particularly significant given that, globally, female founder funding fell 27 per cent last year versus 2019.

The 2020 figure marks a big increase in funding on the prior year when just €63 million was raised by female-founded tech companies. Female founders came close to hitting the €100 million milestone in 2018 when a combined €97.7 million was raised. However, €51 million of that year’s total came from just two deals.

John O’Dea, chief executive of TechIreland, which compiled the figures, described surpassing the €100 million mark as an important milestone.

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"Ireland is on par with the UK and is performing better than most EU countries in terms of funding for female tech businesses," he said.

Mr O’Dea noted, however, that female-founded tech companies are still underrepresented generally, accounting for just 10 per cent of the total funding secured last year. In addition, just 18 per cent of the tech companies that raised funding had a female founder.

Overall, while the average sum raised by Irish tech companies was €4.5 million last year, for female-founded ones, it was less than half that – at €2.1 million.

The largest round raised by a female founder in 2020 was Shirley O’Dea’s Avectas, which secured €18.5 million in funding. The cell engineering technology business, which was spun out of Maynooth University, was also behind the biggest round in 2019, when it secured €12 million in investment.

Other female-founded companies to secure investment last year included Silvercloud Health, MicroGen Biotech, Shorla Pharma, Soapbox Labs, Payslip, TriviumVet, Proverum Medical, VR Education and Vela Games.

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The increased in funding last year was driven largely by later-stage companies, the study shows.

Healthtech was by far and away the most popular sector for funding, with 17 female-founded companies in the space raising a combined €63.5 million. Enterprise Solutions was second with 16 companies securing €21.3 million, while agritech and edtech were also popular.

Martina Fitzgerald, chief executive of Scale Ireland, said "the record level of funding will encourage and inspire more women to pursue their ambitions and build their own tech companies. However, the overall picture is stark in terms of the total number of female founders and the level of funding they are receiving".