On August 14, 2020 Acacia Pharma Group plc ("Acacia Pharma" or the "Company") (EURONEXT: ACPH), a commercial stage biopharmaceutical company focused on developing and commercializing novel products to improve the care of patients undergoing serious medical treatments such as surgery, invasive procedures, or chemotherapy, reported the successful completion of the placing announced yesterday (the "Placing") (Press release, Acacia Pharma, AUG 14, 2020, View Source [SID1234568515]).

Capitalised terms not otherwise defined in this announcement have the meanings given to them in the announcement made by the Company at 3 p.m. CEST yesterday afternoon.

Pursuant to the Placing, Placees have agreed to subscribe for 12,500,000 New Ordinary Shares at a price of EUR 2.00 per share (the "Placing Price"), which represents a 24.8% discount to the closing share price on 13 August 2020. The Placing will raise gross proceeds of approximately EUR 25,000,000. The New Ordinary Shares issued pursuant to the Placing represent 17.2% of the Company’s issued share capital prior to the Placing.

Jefferies International Limited ("Jefferies") and Guggenheim Securities, LLC ("Guggenheim Securities") are acting as Joint Global Coordinators and Joint Bookrunners and Bank Degroof Petercam SA/NV is acting as Joint Bookrunner and Listing Agent (Jefferies, Guggenheim Securities and Degroof Petercam, together the "Joint Bookrunners" or the "Banks") in connection with the Placing.

An application has been made to Euronext Brussels for admission of the New Ordinary Shares to trading on the regulated market of Euronext Brussels ("Admission"). It is expected that Admission will take place on or around 08.00 CEST on 18 August 2020 (or such later time or date as the Banks may agree with the Company) and that unconditional dealings in the New Ordinary shares issued pursuant to the Placing will commence at the same time. The Placing is conditional upon, inter alia, Admission becoming effective and the placing agreement between the Company and the Banks not being terminated in accordance with its terms.

Following Admission, the total number of ordinary shares in issue in the Company will be 85,279,729.

Mike Bolinder, CEO of Acacia Pharma, commented: "The Company has made exciting progress during 2020, with the approval of two products that we are preparing to commercialize in the US. BARHEMSYS and BYFAVO are both targeted at anesthesiologists and are designed to improve the rate at which patients recover from surgery or invasive procedures, reduce the incidence of secondary complications and hospital readmittances and improve healthcare economics through better patient throughput. These are important objectives given the many millions of patients that undergo such procedures in the US and the backlog in hospitals that has resulted from the coronavirus pandemic. This situation, which is compounded by a national shortage of existing drugs for postoperative nausea and vomiting and procedural sedation, presents a significant market opportunity for Acacia Pharma’s products.

We are delighted with the outcome of this successful fundraising, which has provided the funds to build and strengthen our US commercial team and execute the next steps of our commercialization strategy as we target the launches of both BARHEMSYS and BYFAVO later in 2020. We thank our current and new investors for their support and look forward to providing further updates over the coming months."

Acacia Pharma intends to use the net proceeds of the Placing to:

recruit an initial sales force of approximately 30, with an additional ten support staff;
pay marketing costs relating to BARHEMSYS and BYFAVO including brand development and engagement (both virtually and, where possible, in person) with key opinion leaders, healthcare professionals, and medical conference and speaker programmes;
implement post-approval research and development commitments including paediatric studies for BARHEMSYS and BYFAVO and a renal study for BARHEMSYS;
satisfy interest and capital payments under existing loan agreements; and
general corporate purposes relating to ongoing commercial activities as well as supplementing existing stock of both BARHEMSYS and BYFAVO.

In connection with the Placing, the Company has agreed, pursuant to a lock-up undertaking, not to issue additional shares for a period of 90 days following settlement of the Placing. In addition, in connection with the Placing, directors and senior managers of the Company and Cosmo Technologies Limited have agreed not to sell any shares in Acacia Pharma for a period of 90 days following the settlement of the Placing, subject to customary exceptions.

The payment and delivery of the New Ordinary Shares is expected to take place on 18 August 2020 and is conditional on the UK Financial Conduct Authority approving a prospectus in accordance with Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation") in relation to the application for Admission. The New Ordinary Shares to be issued pursuant to the Placing will have the same rights and benefits as, and rank pari passu in all respects with, the Existing Ordinary Shares.

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On 14 August 2020, Prescient stock zoomed up by 6.667% to A$0.064 at AEST 2:12 PM after the Company reported a research collaboration with the world-class cell therapy institute Peter MacCallum Cancer Centre (Peter Mac) for developing innovative cell therapy technologies, including CAR-T technologies (Press release, Prescient Therapeutics, AUG 14, 2020, View Source;utm_medium=rss&utm_campaign=only-asx-listed-healthcare-company-developing-car-t-programs-ptx-collaborates-with-peter-maccallum-cancer-centre [SID1234565506]).

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Under the terms of this research agreement, Prescient will own the IP (intellectual property) generated from the research program being led by Professor Phil Darcy of Peter Mac.

Melbourne-based Peter MacCallum Cancer Centre is an internationally recognised research and clinical leader in developing new therapies for cancer.

This is the second addition to the Cell Therapy Enhancement (CTE) Programs of Prescient Therapeutics. Prescient is already working with Carina Biotech and University of Adelaide on other CTE approaches.

Complementing the CTE programs, Prescient is also developing next-generation CAR-T therapies with its OmniCAR platform, following it announcement in late May 2020 that Prescient obtained key licenses from the University of Pennsylvania and Oxford University.

To Know More, Do Read: Impressive! Prescient Obtains Key Licenses for Next-Generation Immunotherapy Platform

Currently, Prescient Therapeutics is conducting a Share Purchase Plan (SPP) at 5.5c which closes on 20 August 2020 at AEST 5:00 PM. Click here to request personalised SPP forms.

Cell Therapy Enhancements Programs of Prescient

CAR-T is a cellular therapy that reprograms the immune cells of a cancer patient to identify and destroy cancer.

The research program, being undertaken in Professor Darcy’s laboratory at Melbourne-based Peter Mac, is an important addition to the Cell Therapy Enhancements (CTE) programs in the pipeline of Prescient.

On the same lines as the Cell Therapy Enhancements program that is underway with Carina Biotech, this research program aims to produce technologies complementing current CAR-T approaches.

The objective of Prescient’s CTE program is to develop efficacy as well as efficiency improvements that are relevant to 3rd parties in the cell therapy field (called CAR-T), which may incorporate these into their own programs under license.

Also Read: Get Acquainted with Prescient Therapeutics’ Next Generation Immunotherapy Platform

It is noteworthy to mention that Prescient will retain its previously built intellectual property and look to extend this portfolio by collaborating with world-renowned cancer centre Peter Mac.

Prescient Therapeutics CEO Steven Yatomi-Clarke stated that PTX is the only ASX-listed healthcare company developing CAR-T programs, and this is an important strategic initiative to complement programs of the Company in Cell Therapy Enhancements.

He also added-

Bottomline

Prescient has been progressing well in its cell therapy platform by obtaining two major licenses for developing innovative universal CAR Platform and now by collaborating with world-renowned Institute ‘Peter MacCallum Cancer Centre’. These developments drive Prescient to create innovative cell therapies for treating challenging cancers having unmet medical need.

These events demonstrate that Prescient Therapeutics is on a growth track backed by strong management in the most modern arena of cancer therapy.

On August 14, 2020 Prescient Therapeutics (ASX:PTX) reported that it has formed a cancer research partnership with the world-renowned Peter MacCallum Cancer Centre, ‘Peter Mac’, a leader in new clinical treatments for cancer to develop CAR-T cell therapy technologies (Press release, Prescient Therapeutics, AUG 14, 2020, View Source;utm_medium=rss&utm_campaign=prescient-partners-with-global-cancer-heavyweight-to-develop-new-treatments [SID1234565488]).

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The research program is being led by Professor Phil Darcy, head of cancer immunotherapy at Peter Mac’s Melbourne laboratory and will seek to produce technologies that can complement existing CAR-T cancer treatment approaches.

Prescient is the only ASX company that is developing CAR-T programs and it will own the intellectual property rights stemming from the research program.

The company’s CAR-T cancer treatment reprograms the Chimeric Antigen Receptors (CAR) on the outside of T-Cells to enable them to better target and eradicate cancer cells within patients.

Prescient Therapeutics chief executive Steven Yatomi-Clarke said the company’s research partnership with Peter Mac would greatly enhance efforts to advance new cancer treatments that would benefit patients.

"We look forward to working closely with Peter Mac as we employ our knowledge of targeted therapies and growing standing in cellular therapies to generate technologies that will be relevant for the CAR-T field," Yatomi-Clarke said.

Peter Mac research will advance PTX’s treatments
The research program at Peter Mac is an important addition to the Cell Therapy Enhancements (CTE) programs in Prescient’s treatments pipeline.

Prescient develops personalised medical approaches to cancer including targeted and cellular therapies such as its OmniCar immune receptor platform, an advanced version of CAR-T cancer treatment.

The company’s CTE programs aim to create efficacy and efficiency enhancements that are relevant to third parties in the cell therapy field, namely CAR-T, which may incorporate these into their own programs under licence.

Professor Darcy said the research with Prescient aimed to reprogram the microenvironment of cancer tumours to achieve better results with the CAR-T therapy.

"CAR-T therapy has shown strong therapeutic activity in certain haematological malignancies, however, the effects in solid cancers have been poor to date," he said.

"The approach we are exploring with Prescient may reprogram the tumour microenvironment that results in significantly enhancing CAR-T cell anti-tumour activity."

Boosting the coffers by $6.5m
Prescient has launched a capital raising for $6.5m via a share purchase plan to fund the expansion of its line of cancer treatments, including clinical trials of its PTX 100 and 200 products, and OmniCAR platform.

The SPP share issue is priced at 5.5c, a 15 per cent discount to its volume-weighted average share price prior to the SPP announcement, and it closes August 17.

On August 14, 2020 Prescient Therapeutics (ASX: PTX) reported that it has moved closer to developing its unique CAR-T cancer technology after revealing a collaboration with the world-renowned Peter MacCallum Cancer Centre (Peter Mac) in Melbourne (Press release, Prescient Therapeutics, AUG 14, 2020, View Source;utm_medium=rss&utm_campaign=prescient-therapeutics-teams-up-with-peter-maccallum-cancer-centre-to-advance-car-t-cancer-therapy [SID1234565487]).

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The collaboration is expected to leverage Prescient’s proprietary CAR-T cancer therapy and extend its portfolio.

According to Prescient Therapeutics, it is the only ASX-listed stock with CAR-T technology, which is a type of cellular therapy that reprograms a cancer patient’s immune cells to recognise and destroy cancer.

Peter Mac’s professor Phil Darcy will lead the research, with Prescient to own any intellectual property arising from the program.

Prof Darcy said CAR-T therapy had shown "strong therapeutic activity" in certain haematological malignancies.

However, its impact on solid cancers hasn’t been as strong.

"The approach we are exploring with Prescient may reprogram the tumour microenvironment that results in significantly enhancing CAR-T cell anti-tumour activity," Prof Darcy added.

Cell therapy enhancements programs
The collaboration with Peter Mac adds to the Prescient’s current pipeline of cell therapy enhancements (CTE) programs.

Another CTE program is underway with Carina Biotech, with both this and the Peter Mac research aiming to generate technologies that can complement existing CAR-T approaches.

The company added the CTE research aims to develop efficacy and efficiency enhancements that appeal to third parties in the field that may incorporate the technology into their own programs under licence.

"We are working against time for many cancer patients so joining the world-leading experts in this field at Peter Mac will greatly enhance our collective efforts to advance these new treatments and get them to patients who will potentially benefit," Prescient chief executive officer Steven Yatomi-Clarke said.

"Prescient is the only ASX-listed company developing CAR-T programs and this is an important strategic initiative to complement our programs in CTE," he added.

Cancer therapy PTX-100
Today’s news of the Peter Mac research collaboration follows Prescient revealing earlier this week studies on its PTX-100 drug had advanced.

Phase 1b of PTX-100 is proceeding to the next dose level of 2,000mg/m2 after successful completion in the second cohort of 1,000mg/m2.

The three people in the second study were heavily pre-treated patients suffering from advanced pancreatic cancer, peripheral T cell lymphoma and angioimmunoblastic T-cell lymphoma.

Prescient’s PTX-100 is a Ras pathway inhibitor designed to ultimately lead to the death of cancer cells.

This phase 1b basket study aims to determine the safety, dose regimen and treatment schedule of PTX-100 as a single agent in several cancers where Ras and RhoA mutations are prevalent.

Analysis of the first cohort that received 500mg/m2 has shown stable disease and partial response in two patients.

On August 14, 2020, Navidea Biopharmaceuticals, Inc. ("Navidea" or the "Company") reported that signed an amended and restated equity commitment letter (the "Commitment Letter") with Mastiff Group LLC as lead investor (the "Sponsor"), for a private placement financing of up to $25,000,000 in aggregate gross proceeds for the sale and issuance of shares of Navidea’s common stock (Filing, 8-K, Navidea Biopharmaceuticals, AUG 14, 2020, View Source [SID1234563741]). The Commitment Letter supersedes and replaces a previously disclosed commitment letter entered into between Navidea and the Sponsor on August 9, 2020 and August 13, 2020 (the "Prior Commitment Letters"). The Prior Commitment Letters contained substantially similar terms as the Commitment Letter.

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The Commitment Letter requires the Sponsor to purchase, or cause the purchase of, shares of Navidea’s common stock, and to pay, or cause to be paid, to Navidea an aggregate of up to $25,000,000 (the "Equity Commitment"). The Commitment Letter provides that the initial tranche of the private placement will be in an amount of $5,000,000, at a purchase price of $5.00 per share, and that subsequent sales of the shares of common stock shall be made "at-the-market," provided that no such subsequent sales shall be made unless Navidea’s common stock closes at or above $5.00 for five consecutive trading days on the NYSE American. The Sponsor may effect the funding of the Equity Commitment directly or indirectly through one or more affiliates of the Sponsor or any other investment fund that the Sponsor deems appropriate. The Commitment Letter provides that definitive agreements (the "Definitive Agreements"), including a Stock Purchase Agreement and Registration Rights Agreement, must be signed within 7 business days of the date of the Commitment Letter, and one or more closings will be held not later than 90 calendar days from the date of execution of the Definitive Agreements. The Equity Commitment is subject to the approval by the NYSE American of the Company’s additional listing application and other customary closing conditions.

This Commitment Letter and the obligation of the Sponsor to fund the Equity Commitment will terminate automatically and immediately upon the earliest to occur of (a) the mutual agreement of the Sponsor and Navidea, (b) failure of the parties to agree to definitive documents, and (c) the funding of the initial tranche of $5,000,000 and funding of $20,000,000 in subsequent closings, at which time such obligation will be discharged but subject to the performance of such obligation. In addition, Navidea may terminate this the Commitment Letter and the Equity Commitment if the purchase price proposed by the Sponsor is not above the "at-market" per share price on the date of execution of the Definitive Agreements.

The securities to be sold pursuant to the Equity Commitment have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Navidea’s securities. No offer, solicitation or sale will be made in any state or other jurisdiction in which such offering, solicitation or sale would be unlawful.