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Scopus BioPharma Announces Closing of Initial Public Offering

On December 18, 2020 Scopus BioPharma Inc. (Nasdaq: SCPS) reported the closing of its initial public offering (Press release, Scopus BioPharma, DEC 18, 2020, View Source,over%2Dallotment%20option%20in%20full. [SID1234573074]). The underwriters for the initial public offering exercised their over-allotment option in full.

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The company offered 575,000 shares of common stock, including shares issued for the over-allotment option, at a public offering price of $5.50 per share.

The company’s common stock trades on the Nasdaq Global Market under the ticker symbol "SCPS".

The Benchmark Company, LLC acted as Sole Bookrunning Manager and Joseph Gunnar & Co., LLC acted as Co-Manager for the offering.

Greenberg Traurig, LLP acted as counsel to the company. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as counsel to the underwriters.

Scopus BioPharma intends to use the proceeds of the offering principally to further development of the company’s lead drug candidate, a novel, targeted immuno-oncology gene therapy for the treatment of multiple cancers.

An offering statement relating to the shares of common stock was filed with the U.S. Securities and Exchange Commission ("SEC") and became qualified on December 14, 2020. An offering circular relating to the offering was filed with the SEC and is available on the SEC’s website at View Source Copies of the offering circular may be obtained by contacting: The Benchmark Company, LLC, Attention: Prospectus Department, 150 E. 58th Street, 17th Floor, New York, NY 10155, by calling (212) 312-6700 or by e-mail at [email protected]; or Joseph Gunnar & Co., LLC, Attention: Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, by calling (212) 440-9600 or by email at [email protected].

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

Atomwise and FutuRx Launch A2i Therapeutics – A New Immuno-Oncology Company Funded By Leading Biopharma VCs and the Israeli Innovation Authority

On December 18, 2020 Atomwise, the leader in using artificial intelligence (AI) for small-molecule drug discovery, announced today a partnership with FutuRx, a recognized Israeli-based biotechnology incubator focused on innovative, early-stage therapeutic technologies (Press release, Atomwise, DEC 18, 2020, View Source [SID1234573068]). The collaboration will serve as the first introduction of Atomwise’s AtomNet platform for AI-based drug discovery to a growing biotech innovation hub in Israel and is Atomwise’s second partnership with a global incubator hub.

Founded through a joint investment between Johnson & Johnson Innovation (JJDC, Inc.), Takeda Ventures Inc., OrbiMed Israel Partners, FutuRx has formed over 20 early-stage companies in partnership with the Israeli Innovation Authority and has transformed breakthrough discoveries into novel medicines. Recently, Leaps by Bayer has joined as a new investor alongside FutuRx’s founding investors to incept and incubate early-stage biotech companies. A2i Therapeutics’s near-term research activities will be funded by capital contributions from the Israeli Innovation Authority, the FutuRx investors, and in-kind resources and support provided by Atomwise.

As part of the strategic partnership, Atomwise will work closely with the FutuRx management team, investors and incubated portfolio companies to apply its AI technology to early-stage drug discovery projects. Atomwise and FutuRx have announced their first joint venture, A2i Therapeutics, with seed funding to leverage Atomwise’s AI platform to target a key protein involved in controlling the innate immune response and potentially a key immuno-oncology target. Atomwise’s AI platform, AtomNet, can screen more than 16 billion compounds for potential hits in less than two days and has been used by researchers around the world to find hits on targets across numerous disease applications.

"FutuRx is excited to launch a new bio convergence company jointly with a world leader in AI-based drug discovery," said Kinneret Savitzky, PhD, Chief Executive Officer of FutuRx. "Atomwise brings a legacy of collaboration and innovation in small-molecule drug discovery to our network of leading experts from multinational pharmaceutical companies and venture capital, "We are happy that our partnership with Atomwise will introduce its innovative AI platform for drug discovery to startups and emerging biotech companies in Israel."

"The Israeli Innovation Authority leads Israel’s Bio-convergence strategy and is happy to have FutuRx once again join this effort together with its new partner Atomwise," said Anya Eldan, VP of the Innovation Authority and Head of Startup Division. "Atomwise is at the forefront of AI-driven drug discovery, and this partnership with FutuRx will help pursue difficult disease targets and significantly boost the Israeli AI drug discovery and bio-convergence ecosystem."

FutuRx now joins Atomwise’s growing network of investor and corporate partnerships, which today represents a collective deal value approaching $7 billion. Since its founding, Atomwise has built a strong portfolio of joint-venture companies and partnerships with emerging biotechnology, leading pharmaceutical and agrochemical companies.

In April 2020, Atomwise expanded its strategic partnership with Hansoh Pharma, a leading biopharmaceutical company in China, after successfully completing their first hit-discovery collaboration to identify hit compounds that are specific towards an intractable drug target. This announcement came on the heels of another expanded partnership earlier this year with Bayer to continue the development of two crop protection programs. As part of the strategic partnership, Atomwise is helping Bayer increase the speed and probability of discovering and developing new crop protection products through AI. "We are excited to see Atomwise, a Leaps by Bayer portfolio company, collaborating with FutuRx on new frontiers for addressing our shared goal of curing and preventing cancer," said Dr. Juergen Eckhardt, Head of Leaps by Bayer.

Abbott to Present at J.P. Morgan Healthcare Conference

On December 18, 2020 Abbott (NYSE: ABT) reported that it will present virtually at the 39th Annual J.P. Morgan Healthcare Conference on Tuesday, Jan. 12, 2021 (Press release, Abbott, DEC 18, 2020, View Source [SID1234573067]). Robert B. Ford, president and chief executive officer, will present at 9 a.m. Central time.

A live webcast of the presentation will be accessible through Abbott’s Investor Relations website at www.abbottinvestor.com. An archived edition of the presentation will be available the next day.

Syndax Pharmaceuticals To Be Added to the NASDAQ Biotechnology Index

On December 18, 2020 Syndax Pharmaceuticals, Inc. ("Syndax," the "Company" or "we") (Nasdaq: SNDX), a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies, reported that the Company has been selected for addition to the NASDAQ Biotechnology Index (NASDAQ: ^NBI), effective prior to market open on Monday, December 21, 2020 (Press release, Syndax, DEC 18, 2020, View Source [SID1234573040]).

The NASDAQ Biotechnology Index was launched in 1993 and is designed to track the performance of a set of securities listed on the NASDAQ Stock Market (NASDAQ) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark. Companies in the NBI must meet eligibility requirements, including an average daily trading volume, minimum market capitalization, and other criteria. The index is evaluated annually and serves as the basis for the iShares NASDAQ Biotechnology Index Fund. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, please visit View Source

MacroGenics Enters Research Collaboration with Janssen to Develop Novel DART® Molecule

On December 18, 2020 MacroGenics, Inc. (NASDAQ: MGNX), a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer, reported a research collaboration and global license agreement to develop a preclinical bispecific molecule with Janssen Biotech, Inc (Press release, MacroGenics, DEC 18, 2020, View Source [SID1234573039]). The research collaboration will incorporate MacroGenics’ proprietary DART platform to enable simultaneous targeting of two undisclosed targets in a therapeutic area outside oncology.

"We are excited to collaborate with Janssen, which we believe is a leader in the field of next generation antibody-based therapeutics, by bringing together our two companies’ respective scientific talent and experience to leverage our DART platform to generate a compelling product candidate that addresses unmet patient needs," said Scott Koenig, M.D., Ph.D., President and Chief Executive Officer of MacroGenics.

Under the terms of the agreement, Janssen will pay MacroGenics an upfront payment of $20 million and will be responsible for funding all expenses. MacroGenics will also be eligible to receive up to $312 million in potential milestone payments and tiered royalties on worldwide product sales. Further details about the transaction are not disclosed.