GSK announces sale of stake in Innoviva Inc

On May 20, 2021 GlaxoSmithKline reported that it has agreed with Innoviva, Inc ("Innoviva") – a royalty management company – to sell all of its approximately 32 million shares of common stock of Innoviva back to Innoviva at a price of $12.25 per share, raising gross proceeds of approximately $392 million (Press release, GlaxoSmithKline, MAY 20, 2021, View Source [SID1234580360]). Following settlement of the transaction, GSK will no longer hold any Innoviva stock.

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The terms of GSK’s long-standing and successful respiratory collaboration with Innoviva remain unchanged. Under this agreement GSK pays royalties to Innoviva on TRELEGY ELLIPTA, RELVAR/BREO ELLIPTA and ANORO ELLIPTA. In 2020, TRELEGY ELLIPTA sales were £819m (+59% CER (constant exchange rates)); RELVAR/BREO ELLIPTA sales were £1.1bn (+17% CER) and ANORO ELLIPTA sales were £547m (+8% CER).

This equity disposal releases capital to enable GSK to make further investment behind the Group’s strategic priorities.

Innoviva’s most recent closing share price was $12.29. The five-day volume weighted average price was $12.67.

Numab Therapeutics Completes Oversubscribed CHF 100 Million
Series C Financing

On May 20, 2021 Numab Therapeutics AG, a clinical stage biopharmaceutical company developing next-generation multispecific antibody-based immunotherapies for cancer and inflammation, reported the closing of a CHF 100 million (approximately USD 110 million) Series C financing (Press release, Numab, MAY 20, 2021, View Source [SID1234580359]). The financing was co-led by new investors Novo Holdings and HBM Partners, with participation from additional new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., funds and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors. Concurrent with the financing, Nanna Lüneborg from Novo Ventures, Matthias Fehr from HBM Partners, and Carlo Incerti from Forbion have been appointed to Numab’s Board of Directors.

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Proceeds will support acceleration and expansion of the clinical development of Numab’s lead program NM21-1480 into multiple cancer indications, and the advancement of the company’s pipeline of multi-specific antibodies in oncology and inflammation, into clinical trials.

"We are thrilled to be supported by such a strong group of investors who share our vision for the company’s future," said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. "Combining PD-L1 blockade with tumor localized 4-1BB co-stimulation in a single molecule emerges as an attractive next-generation therapeutic strategy in solid tumors, and Numab’s lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept."

"We are impressed by the biological insights that went into the engineering of NM21-1480 and by the innovative pipeline that Numab has established. We believe that Numab’s Lambda-capTM and MATCHTM technologies can provide treatment options with favorable benefit-to-risk profiles," said Matthias Fehr, Head Private Equity at HBM Partners.

"Backing companies built on clearly differentiated science in areas of major unmet medical need is at the heart of Novo Holdings’ investment strategy. We are thus thrilled to co-lead Numab’s Series C financing to support the company at a pivotal stage in growth," commented Nanna Lüneborg, Partner at Novo Ventures.

EXACT THERAPEUTICS ABSTRACT ON ITS PHASE I ACTIVATE STUDY TO BE PRESENTED AT THE 2021 ASCO ANNUAL MEETING

On May 20, 2021 Exact Therapeutics AS (Euronext Growth: EXTX), a clinical stage precision medicine company utilizing Acoustic Cluster Therapy (ACT) to harness the power of ultrasound in therapeutic amplification across multiple therapeutic areas and product classes, reported that an abstract describing the background and methodology of its Phase I study, ACTIVATE, has been released for publication at the 2021 ASCO (Free ASCO Whitepaper) Annual Meeting (Press release, Exact Therapeutics, MAY 20, 2021, View Source [SID1234580358]).

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The ACTIVATE Study (NCT04021277) is the first in a series of clinical investigations planned of the Company’s Acoustic Cluster Therapy (ACT) platform technology for targeted therapeutic enhancement.

Abstract Title: Phase I trial of acoustic cluster therapy (ACT) with chemotherapy in patients with liver metastases of gastrointestinal origin (ACTIVATE study)

Oral Abstract Session: Trials in Progress, Developmental Therapeutics—Molecularly Targeted Agents and Tumor Biology

Abstract: TPS3145

Lead Author: Professor Udai Banerji, NIHR Professor of Molecular Cancer Pharmacology at The Institute of Cancer Research and Honorary Consultant in Medical Oncology, The Royal Marsden NHS Foundation Trust.

Cellectar Announces Poster Presentation of CLR 131 Data in Waldenstrom’s Macroglobulinemia at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting

On May 20, 2021 Cellectar Biosciences, Inc. (NASDAQ: CLRB), a late-stage clinical biopharmaceutical company focused on the discovery and development of drugs for the treatment of cancer, reported a poster presentation at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual meeting to be held virtually June 4-8, 2021 (Press release, Cellectar Biosciences, MAY 20, 2021, View Source [SID1234580355]).

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The poster presentation on June 4th will provide an in-depth update of the six patients reported in the Abstract from the company’s Phase 2a study of CLR 131 in Waldenstrom’s macroglobulinemia (WM). A copy of the Abstract, entitled: Treatment Free Remission (TFR) and Overall Response Rate (ORR) Results in Patients with Relapsed/Refractory Waldenstrom’s Macroglobulinemia (WM) Treated with CLR 131 is available on ASCO (Free ASCO Whitepaper)’s website www.asco.org.

In conjunction with the poster presentation, management is hosting a KOL call with Dr. Sikander Ailawadhi, M.D., the lead investigator for the company’s Phase 2 CLOVER-1 study of CLR 131 in patients with relapsed/refractory B-cell hematologic cancers. Dr. Ailawadhi is a Professor of Medicine, Lead, International Cancer Center, Division of Hematology/Oncology, Departments of Medicine and Cancer Biology at Mayo Clinic Florida. He was awarded the 2013 NCI CCITLA as an Assistant Professor of Medicine at the Norris Cancer Center, University of Southern California (USC), Los Angeles, CA. Subsequently, he joined the Division of Hematology and Oncology at Mayo Clinic in Florida as a Senior Consultant in order pursue his career goal of clinical, translational and outcomes-based research in B-cell malignancies.

About the Pivotal Trial of CLR 131 in Waldenstrom’s macroglobulinemia (WM)
The pivotal trial is designed as a global, non-comparator, single arm, expansion cohort of the currently ongoing Phase 2 CLOVER-1 study of CLR 131. The study will enroll 50 WM patients. Patients in the trial will receive up to four doses of CLR 131 over two cycles (cycle one days 1, 15, and cycle two days 57, 71). The primary endpoint of the trial is response rate as defined as a partial response (a minimum of a 50% reduction in the biological marker IgM) or better in patients that receive a minimum total body dose of 60 mCi with secondary endpoints of treatment free survival, duration of response and progression free survival. An independent data monitoring committee (iDMC) will perform an interim safety and futility evaluation on the first 10 patients enrolled. The assessment will occur patient by patient and will conclude after the tenth patient is evaluated; there is no planned study stoppage.

About Waldenstrom’s macroglobulinemia
Waldenstrom’s macroglobulinemia (WM) is a rare and incurable disease defined by specific genotypic subtypes that defines patient responses and long-term outcomes. The annual incidence is 6,500 with prevalence of approximately 60,000 patients globally. WM is a lymphoma, or cancer of the lymphatic system. The disease occurs in a type of white blood cell called a B-lymphocyte or B-cell, which normally matures into a plasma cell whose job is to manufacture immunoglobulins (antibodies) to help the body fight infection. In WM, there is a malignant change to the B-cell in the late stages of maturing, and it continues to proliferate into a clone of identical cells, primarily in the bone marrow but also in the lymph nodes and other tissues and organs of the lymphatic system. These clonal cells over-produce an antibody of a specific class called IgM.

WM cells have characteristics of both cancerous B-lymphocytes (NHL) and plasma cells (multiple myeloma), and they are called lymphoplasmacytic cells. For that reason, WM is classified as a type of non-Hodgkin’s lymphoma called lymphoplasmacytic lymphoma (LPL). About 95% of LPL cases are WM; the remaining 5% do not secrete IgM and consequently are not classified as WM.

There is no standard treatment for WM. Several drugs have demonstrated activity either alone or in combinations, but only a single drug has received regulatory approval. Treatment is mainly focused on the control of symptoms and the prevention of organ damage. Front-line treatments for WM include rituximab alone or in combination with other agents. In the salvage therapy (second line or later) setting, ibrutinib, combinations of proteosome inhibitors and immunomodulatory drugs and stem cell transplantation are considered. Ibrutinib is the only drug to receive regulatory approval (2015) as a salvage therapy; in late 2019, it was approved for front-line treatment in combination with rituximab. Factors such as long-term cytopenias, age, hyper viscosity, the need for quick disease control, lymphadenopathy, co-morbidities, and IgM-related end-organ damage are key consideration in the choice of treatment.

Cardiff Oncology to Present at the Jefferies Virtual Healthcare Conference

On May 20, 2021 Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company developing onvansertib to treat cancers with the greatest medical needs for new treatment options, including KRAS-mutated colorectal cancer, pancreatic cancer and castrate-resistant prostate cancer, reported that Dr. Mark Erlander, chief executive officer of Cardiff Oncology, will present and participate in one-on-one investor meetings at the Jefferies Virtual Healthcare Conference taking place June 1-4, 2021 (Press release, Cardiff Oncology, MAY 20, 2021, View Source [SID1234580354]).
Presentation details can be found below.
Date: Tuesday, June 1, 2021 Time: 4:00 PM ET Webcast Link:
View Source

A replay of the presentation will be available by visiting the "Events" section of the Cardiff Oncology website after the conclusion of the presentation and will be archived on the Company website for 30 days.

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