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ADC Therapeutics and Overland Pharma Form Strategic JV to Expand ADC Drugs Development and commercialization in Greater China and Singapore, Advised by MSQ Ventures

On December 15, 2020 M.S.Q. Ventures ("MSQ") reported that its client, ADC Therapeutics SA (NYSE: ADCT), has successfully entered into an agreement to jointly form a new company, Overland ADCT BioPharma (CY) Limited with Overland Pharmaceuticals, a fully integrated, biopharmaceutical company backed by Hillhouse Capital (Press release, MSQ Ventures, DEC 15, 2020, View Source [SID1234572884]).

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Under the terms of the agreement, ADC Therapeutics licensed exclusive development and commercialization rights to Lonca, ADCT-602, ADCT-601 and ADCT-901 for greater China and Singapore to Overland ADCT Biopharma, in which Overland Pharmaceuticals has invested $50 million. Overland Pharmaceuticals will have a 51% stake and ADC Therapeutics a 49% stake. ADC Therapeutics can also earn milestone payments and royalties from the license agreement with Overland ADCT BioPharma.

"As we prepare for the potential U.S. launch of Lonca in 2021, we are delighted that Overland ADCT BioPharma will expand access to the therapy, as well as three of our other pyrrolobenzodiazepine (PBD)-based antibody drug conjugates, to address patient needs in greater China," said Chris Martin, CEO of ADC Therapeutics. "The MSQ team has been working from A to Z to help us understand China’s market, develop a plan, execute strategic objectives, and advise on this transaction. Their systematic approach and laser focus on results contributed to our success."

Ed Zhang, Co-founders of Overland Pharmaceuticals, stated, "We are excited to bring these first four candidates into Overland ADCT BioPharma’s portfolio and look forward to developing this new company into a leading oncology player in China. We are pleased to work with ADC Therapeutics, a pioneer in the field of ADCs, on this strategic venture. MSQ’s professionalism and understanding of both parties’ objectives helped to expedite this successful transaction especially during COVID-19."

As ADC Therapeutics embarks on this exciting phase of its global plan, Echo Hindle-Yang, CEO of MSQ reflected on the transaction, "This new cross-border venture is another example that even in the era of COVID-19, global innovators such as ADC Therapeutics and Overland Pharmaceuticals have joined forces. We are heartened by what this could mean for cancer patients. We congratulate both teams and look forward to more breakthroughs from them in the future."

Castle Biosciences Announces Pricing of $232 Million Public Offering of Common Stock

On December 15, 2020 Castle Biosciences, Inc. (Nasdaq: CSTL), reported the pricing of its underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $58.00 per share (Press release, Castle Biosciences, DEC 15, 2020, View Source [SID1234572883]). The gross proceeds to Castle from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Castle, are expected to be $232 million. In addition, Castle has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 18, 2020, subject to customary closing conditions.

SVB Leerink and Baird are acting as joint bookrunning managers in the offering. Canaccord Genuity is acting as passive bookrunner and BTIG and Lake Street Capital Markets are acting as co-managers for the offering.

The securities described above are being offered by Castle pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Castle and became effective by rule of the Securities and Exchange Commission (the "SEC") on December 14, 2020. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, 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. 6132, or by email at [email protected]; or Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Ave., Milwaukee, WI 53202, by telephone at (800) 792-2473, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

NANOBIOTIX Announces Closing of Global Offering and Full Exercise of Underwriters’ Option to Purchase Additional ADSs, Bringing Gross Proceeds of Global Offering to $113.3 Million

On December 15, 2020 NANOBIOTIX (Paris:NANO) (Euronext : NANO – ISIN : FR0011341205 – the ‘‘Company’’), a clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, reported the initial closing of its previously announced initial public offering on the Nasdaq Global Select Market by way of a capital increase of 7,300,000 new ordinary shares (the "New Shares"), consisting of a public offering of 5,445,000 ordinary shares in the form of American Depositary Shares ("ADSs"), each representing the right to receive one ordinary share, in the United States (the "U.S. Offering") and a concurrent offering of 1,855,000 ordinary shares in certain jurisdictions outside of the United States to certain investors (the "European Offering" and together with the U.S. Offering, the "Global Offering") (Press release, Nanobiotix, DEC 15, 2020, View Source [SID1234572882]). In addition, the underwriters for the Global Offering have exercised in full their option to purchase 1,095,000 additional ADSs at the same public offering price of $13.50 per ADS, with the closing for such additional ADSs expected to occur on December 18, 2020.

Following the additional closing, the total number of ordinary shares issued amounts to 8,395,000, including 6,540,000 in the form of ADSs, bringing the gross proceeds of the Global Offering to approximately $113.3 million (€93.5 million1) and the aggregate net proceeds to Nanobiotix, after deducting underwriting commissions and estimated offering expenses payable by Nanobiotix, will be approximately $100.4 million(€82.8 million)2. All of the securities sold in the Global Offering were offered by Nanobiotix.

The Company intends to apply the net proceeds from the option to purchase additional ADSs on a pro rata basis to the use of proceeds identified with respect to the base offering. The Company believes that the net proceeds from the Global Offering, including the net proceeds from the option to purchase additional ADSs, together with its cash and cash equivalents, will be sufficient to fund its operations through the middle of the second quarter of 2023.

Nanobiotix’s ordinary shares are listed on the regulated market of Euronext in Paris under the ticker symbol "NANO". Nanobiotix’s ADSs began trading on the Nasdaq Global Select Market on December 11, 2020 under the ticker symbol "NBTX".

Jefferies LLC acted as global coordinator and joint book-running manager for the Global Offering, and Evercore Group, L.L.C. and UBS Securities LLC acted as joint book-running managers for the U.S. Offering. Gilbert Dupont acted as manager for the European Offering.

In accordance with Article 6 of delegated regulation EU 2016/1052 of March 8, 2016, Jefferies LLC, acting as the stabilizing agent on its own behalf and on behalf of the other underwriters, reported that no stabilization activities had been carried out. The period during which stabilization activities could be carried out is now closed.

The Global Offering was made only by means of a prospectus. A copy of the prospectus relating to the Global Offering was filed with the U.S. Securities and Exchange Commission and may be obtained from Jefferies LLC, 520 Madison Avenue New York, NY 10022, or by telephone at 877-547-6340 or 877-821-7388, or by email at [email protected]; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, or by telephone at 888-474-0200, or by email at [email protected]; or from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, or by telephone at 888-827-7275, or by email at [email protected].

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Legend Biotech to Participate in the 39th Annual J.P. Morgan Healthcare Conference

On December 15, 2020 Legend Biotech Corporation (NASDAQ: LEGN) ("Legend Biotech"), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, reported that it will participate virtually in the 39th Annual J.P. Morgan Healthcare Conference on Monday, January 11, 2021 (Press release, Legend Biotech, DEC 15, 2020, View Source [SID1234572881]). Ying Huang, PhD, Chief Executive Officer and Chief Financial Officer of Legend Biotech, will present company updates on Wednesday, January 13, 2021 at 4:30 pm ET.

The webcast will be available to investors and other interested parties in the Events & Presentation section under Investors on Legend Biotech’s website at View Source A webcast replay will be available approximately 24-hrs after the live webcast.

Telix Pharmaceuticals Limited and Mauna Kea Technologies Announce the “Imaging and Robotics in Surgery (IRiS) Alliance”

On December 15, 2020 Telix Pharmaceuticals Limited (ASX: TLX, ‘Telix’) a biopharmaceutical company developing diagnostic and therapeutic products using Molecularly Targeted Radiation (MTR) and Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) (Euronext: MKEA, ‘Mauna Kea’) inventor of Cellvizio, the multidisciplinary probe- and needle-based confocal laser endomicroscopy (pCLE/nCLE) platform, reported an exclusive scientific and clinical research collaboration in the field of molecular imaging guided urologic oncology (Press release, Telix Pharmaceuticals, DEC 15, 2020, View Source [SID1234572880]).

The Telix and Mauna Kea scientific and clinical research collaboration is called the "Imaging and Robotics in Surgery (IRiS) Alliance," or "IRiS Alliance," and was created to further develop the combined technological capabilities of both companies. The IRiS Alliance was formed based on the belief that the use of cancer-specific Positron Emission Tomography (PET) imaging agents, including dual-modality tracers that combine PET and fluorescent (optical) techniques, in conjunction with confocal laser endomicroscopy, may significantly improve surgical techniques and clinical outcomes in patients with urologic cancers.

The IRiS Alliance aims to demonstrate that pre-operative planning, intra-operative guidance, surgical margin assessment and other surgical parameters may be improved by combining these modalities. The initial focus of the IRiS Alliance is to develop and evaluate the use of Telix’s dual-modality PET and optical imaging tracers, together with Mauna Kea’s unique near-infrared version of the Cellvizio endomicroscopy platform to facilitate fluorescence-guided surgical interventions for prostate and kidney cancers.

"We are excited to announce this exclusive scientific and clinical research collaboration with Telix in the field of urologic oncology," said Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. "The IRiS Alliance endeavors to combine the strengths of Telix’s molecular targeting, together with Cellvizio’s real-time in vivo cellular imaging, to bring dual modality molecular imaging to the operating theatre for the first time. The IRiS Alliance aims to significantly transform how the urologic surgeon will evaluate, target, excise, and confirm surgical margins at the cellular level. Our collaboration will further empower surgeons to fight cancers and save lives. We expect to begin pre-clinical and clinical feasibility studies in 2021."

"The cutting-edge techniques our respective companies have developed in molecular targeting and real-time in vivo cellular imaging have a natural synergy and we are extremely pleased to have formalized this ground-breaking partnership," said Christian Behrenbruch, Chief Executive Officer and Managing Director of Telix Pharmaceuticals Limited. "Through the IRiS Alliance, Telix and Mauna Kea together aim to deliver quantum improvements in surgical techniques and clinical outcomes in patients with urologic cancers, starting with prostate and kidney cancers, with the ultimate objective of improving the lives of the patients we serve."