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HUTCHMED Announces US$100 Million Equity Investment by Baring Private Equity Asia

On April 8, 2021 Hutchison China MediTech Limited ("HUTCHMED") (Nasdaq/AIM: HCM) reported that it has entered into a definitive agreement for the issuance of US$100 million of shares at a price equivalent to US$30.5 per American Depositary Share ("ADS") via a private placement to funds affiliated with Baring Private Equity Asia ("BPEA") (Press release, Hutchison China MediTech, APR 8, 2021, View Source [SID1234577711]).

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Mr. Christian Hogg, Chief Executive Officer of HUTCHMED, said, "We expect significant growth of our business this year as we look to accelerate our oncology revenues from ELUNATE, SULANDA and the potential upcoming approval of savolitinib, likely to be a first-in-class selective c-MET inhibitor in China. We are rapidly expanding global development of our ten oncology assets, all of which were discovered in-house at HUTCHMED, and are planning to initiate 8-10 registration and registration-intent studies in 2021. This is the right time to welcome BPEA to our existing shareholder base, a firm with a long history of supporting innovative globally-focused businesses. We look forward to partnering with BPEA in the next stage of our development."

Mr. Jean Eric Salata, Chief Executive Officer and Founding Partner of BPEA, said, "With this strategic investment, BPEA is demonstrating our long-term commitment to HUTCHMED, an emerging biopharma leader in Asia. The healthcare sector in China is a core area of investment focus for BPEA. HUTCHMED is developing and delivering highly differentiated oncology therapies to patients around the world and we look forward to working with the CEO and management team to support the company’s innovation and global growth aspirations".

Founded in 1997, BPEA is one of the largest and most established independent private equity firms in Asia with approximately $23 billion of assets under management. BPEA has a well-established track record investing in the healthcare sector with a diverse portfolio across different verticals, providing strategic capital to and working closely with industry leaders to grow their businesses over the long-term.

HUTCHMED will receive all proceeds from this private placement of the equivalent of 3,278,689 ADSs, which will fund ongoing research and clinical development and support the further growth of its commercialization capabilities both in China and globally.

HUTCHMED has agreed to issue 16,393,445 ordinary shares, par value US$0.10 each (the "Shares"), pursuant to the private placement. The Shares will, when issued, be fully paid and will rank pari passu in all respects with the existing ordinary shares of HUTCHMED. Each ADS represents five Shares.

The securities to be sold in the private placement will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. Subject to certain conditions, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the Shares sold in the private placement to facilitate future resales by BPEA. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.

This announcement, including any information included or incorporated by reference in this announcement, is for information purposes only and shall not constitute nor form part of, and should not be construed as, an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. No public offering of the securities referred to in this announcement is being made in the United States or elsewhere.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (as it forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018).

Admission to the London Stock Exchange AIM market and Shares Outstanding After Completion
Application will be made for the Shares to be admitted to the AIM market operated by the London Stock Exchange ("Admission"). It is expected that Admission will become effective at 8:00 a.m. BST on April 14, 2021.

Following admission of the Shares to trading on AIM, the issued share capital of HUTCHMED will consist of 744,515,660 ordinary shares of US$0.10 each, with each share carrying one right to vote and with no shares held in treasury. The figure of 744,515,660 may be used by shareholders as the denominator for the calculations by which they could determine if they are required to notify their interest in, or a change to their interest in, HUTCHMED under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

For illustrative purposes only, if the 744,515,660 ordinary shares were converted in their entirety, they would be equivalent to 148,903,132 Nasdaq-traded ADSs (each equating to five ordinary shares).

American Association for Cancer Research

On April 7, 2021 TriSalus Life Sciences reported that The American Association for Cancer Research (AACR) (Free AACR Whitepaper) will host its annual meeting, AACR (Free AACR Whitepaper) 2021, virtually, over two weeks: April 10-15 and May 20-26 (Press release, TriSalus Life Sciences, APR 7, 2021, View Source [SID1234577888]). The meeting program covers the latest discoveries across the spectrum of cancer research and highlights the work of the best minds in research and medicine from institutions all over the world.

ERYTECH TO PARTICIPATE IN UPCOMING VIRTUAL INVESTOR CONFERENCES IN APRIL

On April 7, 2021 ERYTECH Pharma (Nasdaq & Euronext: ERYP), a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating therapeutic drug substances inside red blood cells, reported that Chief Executive Officer, Gil Beyen, will participate in the following conferences in the month of April and engage in select one-on-one investor meetings alongside members of the senior management (Press release, ERYtech Pharma, APR 7, 2021, View Source [SID1234577740]).

SMALLCAP EVENT- CF&B Communication – April 14-15, 2021

Gil Beyen, Chief Executive Officer, will participate in one-on-one meetings from 8am to 1pm ET (02:00pm to 07:00pm CEST). For more information about the CF&B Communication’s SMALLCAP EVENT, please refer to the CF&B website: View Source

Kempen & Co. Life Sciences Conference – 2021 Thematic Virtual Series – April 28, 2021

Gil Beyen, Chief Executive Officer, Iman El-Hariry, Chief Medical Officer, and Eric Soyer Chief Financial Offier will participate in one-on-one meetings, small group meetings and showcase sessions from 8am to 2pm ET (02:00pm to 08:00pm CEST). For more information about the Kempen & Co Life Sciences Conference Series, please refer to the Kempen conference website: View Source

If you are interested in arranging a one-on-one meeting, please contact your conference representative or contact Corey Davis at LifeSciAdvisors.

Crinetics Pharmaceuticals Announces Pricing of Public Offering of Common Stock

On April 7, 2021 Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, reported the pricing of an underwritten public offering of 4,562,044 shares of its common stock at a price to the public of $16.44 per share (Press release, Crinetics Pharmaceuticals, APR 7, 2021, View Source [SID1234577728]). All of the shares to be sold in the offering are being sold by Crinetics. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $75.0 million. The offering is expected to close on or about April 12, 2021, subject to the satisfaction of customary closing conditions.

Crinetics intends to use the net proceeds from the proposed offering to fund the development of paltusotine and its other research and development programs, and for working capital and general corporate purposes.

SVB Leerink is acting as sole bookrunning manager for the offering.

The securities described above are being offered by Crinetics pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement relating to this offering will be filed with the SEC. The offering may be made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 800-808-7525, ext. 6105 or by email at [email protected]. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the website of the SEC at www.sec.gov.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

IMMUTEP ANNOUNCES EUROPEAN PATENT GRANT FOR LAG525 ANTIBODY IN COMBINATION THERAPY

On April 7, 2021 Immutep Limited (ASX: IMM; NASDAQ: IMMP) ("Immutep" or "the Company"), a biotechnology company developing novel immunotherapy treatments for cancer, infectious disease and autoimmune disease, reported the grant of patent number EP3317301 entitled "Combination therapies comprising antibody molecules to LAG-3" by the European Patent Office (Press release, Immutep, APR 7, 2021, View Source [SID1234577719]).

The claims of EP3317301 are directed to embodiments of LAG525, a humanised form of Immutep’s IMP701 antibody which is out-licensed to Novartis AG. In particular, the claims of the patent are directed to compositions comprising LAG525 and spartalizumab, an anti-PD-1 antibody molecule, and related methods of use of the combination in the treatment of cancer.

The patent is co-owned by Novartis AG and Immutep S.A.S. and will expire on 28 July 2036.

About IMP701 and LAG525

IMP701 is a therapeutic antibody originally developed by Immutep S.A. (now Immutep S.A.S.) to target LAG-3. This antagonist antibody plays a role in controlling the signalling pathways in both effector T cells and regulatory T cells (Treg). The antibody works to both activate effector T cells (by blocking inhibitory signals that would otherwise switch them off) and at the same time inhibit Treg function that normally prevents T cells from responding to antigen stimulation. The antibody therefore removes two brakes that prevent the immune system from responding to and killing cancer cells. In contrast, some other checkpoint antibodies in development target only the effector T cell pathway.

Rights to the development and commercialisation of IMP701 are exclusively licensed to Novartis.

LAG525, a humanised form of IMP701 is being evaluated by Novartis in several Phase I and/or Phase II clinical trials in combination with Novartis’ PD-1 inhibitor spartalizumab for the treatment of certain cancer(s). Novartis has full responsibility for the continued development of the LAG-3 antibody program and Immutep is eligible to receive development-based milestone payments and sales-based royalties.