Leap Therapeutics Announces Publication of DKN-01 Mechanism of Action Data in Molecular Cancer Research

On December 22, 2020 Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company focused on developing targeted and immuno-oncology therapeutics, reported the publication in Molecular Cancer Research of preclinical results from studies of human and murine versions of DKN-01, a humanized monoclonal antibody that binds to and blocks the activity of the Dickkopf-1 (DKK1) protein (Press release, Leap Therapeutics, DEC 22, 2020, View Source [SID1234573220]). The article, entitled "mDKN-01, a Novel Anti-DKK1 Monoclonal Antibody, Enhances Innate Immune Responses in the Tumor Microenvironment," is available online. The studies characterized a murine version of DKN-01 (mDKN-01) in order to better understand the mechanism of action (MOA) of DKK1 inhibition in two mouse cancer models.

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"In the current studies, we demonstrated that the inhibition of DKK1 with a monoclonal antibody in a syngeneic melanoma model led to tumor growth inhibition (TGI) requiring host NK1.1 cells, but not T or B cells, and provided enhanced efficacy when combined with a PD-1 inhibitor. In a second model, the antibody was a potent inhibitor of breast cancer metastases to lung," said Walter Newman, Ph.D., Senior Research Fellow of Leap. "These results show the innate immune system effects of mDKN-01 and support further exploration as to how DKN-01 results in the activation of NK cells and mitigation of metastatic spread."

DKK1, a secreted modulator of Wnt/Beta-catenin and CKAP4/PI3K/AKT signaling, is overexpressed in many cancers, is associated with worse clinical outcomes, and has been shown to have immunosuppressive effects. To better understand the DKN-01 MOA, Leap engineered a murine framework for the DKN-01 CDR domains and examined the efficacy of mDKN-01 in a mouse model of melanoma. These studies show that targeting DKK1 suppresses tumor growth, reduces intra-tumoral myeloid-derived suppressor cells (MDSC) in the tumor and spleen, activates NK cells, and up-regulates PD-L1 expression on MDSC. Tumor cell signaling analysis in these studies indicates that mDKN-01 is not acting as a Wnt/B-catenin pathway agonist, but is inducing a collection of favorable immune changes in the tumor microenvironment.

In the animal model studied, mDKN-01 and an anti-PD-1 antibody demonstrated additive TGI effects. A clinical trial of DKN-01 plus pembrolizumab, an anti-PD-1 antibody, has recently been completed in esophagogastric cancer patients with promising results in patients whose tumors express high levels of DKK1. Leap has recently initiated a trial of DKN-01 in combination with BeiGene’s tislelizumab, an anti-PD-1 antibody, in DKK1-high second line gastroesophageal junction and gastric cancer (GEJ/GC) patients and in combination with tislelizumab, capecitabine, and oxaliplatin in first-line GEJ/GC patients.

About DKN-01

DKN-01 is a humanized monoclonal antibody that binds to and specifically blocks the activity of the Dickkopf-1 (DKK1) protein, a modulator of Wnt/Beta-catenin and CKAP4/PI3K/AKT signaling pathways, frequently implicated in tumorigenesis. The U.S. Food and Drug Administration has granted Orphan Drug Designation for the treatment of gastric and gastroesophageal junction cancer and Fast Track Designation in combination with tislelizumab for the treatment of patients with gastric and gastroesophageal junction adenocarcinoma whose tumors express high DKK1 protein, following disease progression on or after prior fluoropyrimidine- and platinum- containing chemotherapy and if appropriate, human epidermal receptor growth factor (HER2)/neu-targeted therapy

Avidity Biosciences to Present at the 39th Annual J.P. Morgan Healthcare Conference

On December 22, 2020 Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs), reported that Sarah Boyce, President and Chief Executive Officer, reported to present at the 39th Annual J.P. Morgan Healthcare Conference on Thursday, January 14th, 2021 at 12:40pm PST (Press release, Avidity Biosciences, DEC 22, 2020, View Source [SID1234573219]). The conference is being held in a virtual format.

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A live webcast of the presentation will be available on the Company’s website at www.aviditybiosciences.com in the Investor Resources section. A replay of the presentation will be archived on the Company’s website for 30 days.

Inhibikase Therapeutics, Inc. Announces Pricing of its Initial Public Offering

On December 22, 2020 Inhibikase Therapeutics, Inc. (Inhibikase), a clinical-stage pharmaceutical company developing therapeutics for Parkinson’s disease and related disorders that arise inside and outside of the brain, reported the pricing of its initial public offering of 1,800,000 shares of common stock at a public offering price of $10.00 per share, for gross proceeds of $18 million, before deducting underwriting discounts and commissions and other offering expenses payable by Inhibikase (Press release, Inhibikase Therapeutics, DEC 22, 2020, View Source [SID1234573218]). All of the shares are being offered by Inhibikase. In addition, Inhibikase has granted the underwriters a 45-day option to purchase up to an additional 270,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

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The shares are expected to begin trading on the Nasdaq Capital Market on December 23, 2020 under the ticker symbol "IKT." The offering is expected to close on December 28, 2020, subject to the satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission (SEC) on December 22, 2020. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at [email protected]. These documents may also be obtained free of charge, when they are available, by visiting the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

Transcenta Closes $105 Million in Crossover Financing

On December 22, 2020 Transcenta Holding Limited ("Transcenta"), a global biotherapeutics company with fully-integrated capabilities in discovery, development and manufacturing of antibody-based therapeutics, reported the completion of a 105 million USD crossover financing (Press release, Transcenta, DEC 22, 2020, View Source [SID1234573217]). China Structural Reform Fund led the financing round, participated by new investors including Country Garden Venture Capital, Qatar Investment Authority, and other prominent institutional investors. Existing investors including CCT China Merchants Fund, Lilly Asia Ventures, Teng Yue Partners, Sequoia Capital China and others also participated in this round. China Renaissance acted as the lead financial advisor for this transaction, and Bank of China International as joint financial advisor.

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The year 2020 has marked many significant milestones for Transcenta. Multiple senior clinical leaders joined the company during the last six months. With multiple assets in clinical stage, the Company has been pushing the robust pipeline forward aggressively. TST001, a CLDN18.2 targeting antibody and one of its leading programs, has been moving quickly in clinic in both US and China. Transcenta will also file IND soon for TST005, a second generation PDL1-TGFβ bifunctional molecule. Transcenta has also expanded its Hangzhou facility with a fill & finish line as well as 2000L bioreactors. Its perfusion biomanufacturing platform has achieved further breakthroughs including achieving industry leading productivity of more than 4 g/L per day for multiple cell lines and successful scale-up of perfusion process to 200L for GMP production for an in-house bispecific antibody. Within the past months, Transcenta has also sealed strategic partnership with international technology innovators such as Merck KG to advance its continuous manufacturing technology capabilities.

"Transcenta has been focusing on discovering, developing and delivering novel and high quality antibody therapeutics at affordable price. We appreciate the support of new and existing investors for their confidence in Transcenta. The proceeds from new funding will be used to accelerate our ongoing clinical programs and prepare for commercialization," commented Dr. Xueming Qian, Transcenta’s Co-Founder and CEO.

"We are excited to welcome new investors in this crossover financing. Joined by multiple long-term investors, including international funds, sovereign funds, as well as China mega funds, Transcenta is strategically positioned to sustain long-term growth, bringing quality and affordable biotherapeutics to patients worldwide," said Transcenta’s Co-Founder and Chairman Dr. Jonathan Y. Zhao.

Ran Wei, General Manager of Chengtong Fund Management, which manages China Structural Reform Fund commented, "As the next-generation leader in novel drug development and commercialization, Transcenta is a platform company with fully integrated capabilities focusing on biotherapeutics. We are pleased to join hands with the other new and existing shareholders to support Transcenta along its journey of bringing the best treatment to the market."

Kevin Xie, Managing Director of China Renaissance, commented, "We are fortunate to have witnessed all the milestones that Transcenta has accomplished since its merger, and pleased to have helped seal the 2 financing rounds. We look forward to more breakthroughs the Company is to bring and the successful story it continues to write."

Illumina to Webcast Upcoming Investor Conference Presentations

On December 22, 2020 Illumina, Inc. (NASDAQ:ILMN) reported that its executives will be speaking at the following investor conference and invited investors to participate via webcast (Press release, Illumina, DEC 22, 2020, View Source [SID1234573215]).

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J.P. Morgan Virtual Healthcare Conference on Monday, January 11, 2021
Presentation at 11:00am Pacific Time immediately followed by a Q&A Session to begin at approximately 11:20am Pacific Time

The live webcasts can be accessed under the Investor Info section of the "company" tab at www.illumina.com. Replays will be posted on Illumina’s website as soon as possible after the event and will be available for at least 30 days following.