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Lantern Pharma’s Proprietary A.I. Platform for Precision Oncology Drug Development, RADR®, Surpasses 450 Million Datapoints, Ahead of Schedule, and Accelerates the Company’s Path to 1 Billion Datapoints Curated Specifically for Oncology Drug Development and Drug Response Prediction

On June 29, 2020 Lantern Pharma (NASDAQ: LTRN), a clinical stage biotechnology company focused on leveraging artificial intelligence ("A.I."), machine learning and genomic data to streamline the drug development process and to identify the patients that will benefit from its targeted oncology therapies, reported that it surpassed the milestone of 450 million curated data points being utilized in its proprietary A.I. and machine learning-powered platform, RADR (Response Algorithm for Drug Positioning and Rescue) (Press release, Lantern Pharma, JUN 29, 2020, View Source [SID1234561531]).

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RADR leverages genomic, transcriptomic, clinical and drug sensitivity data points across more than 145 drugtumor interactions to predict the potential response cancer patients will have to potential drugs, therefore enabling a more personalized approach to therapy that is aimed at better outcomes. Lantern is establishing collaborations and partnerships to expand the functionality of RADR, including algorithms that can operate 200 to 300 percent faster than its existing algorithms, enabling the company to develop robust, gene signatures that can be used to guide patient enrollment in trials and as a companion diagnostic (CDx). During the most recent data enrichment campaign, Lantern focused on significantly increasing the depth and amount of data for: nonsmall cell lung cancer, ovarian cancer, glioblastoma, and gliomas. Reaching this milestone of over 450 million curated data points for oncology drug development will bring greater precision and speed in helping Lantern with its objective of personalizing oncology therapy with reduced risk and cost.

"Our approach in leveraging machine learning to develop biologically relevant, multi-gene signatures in days or weeks allows our team to more efficiently review and test novel insights about the complex mechanisms that can drive patient response to a drug," said Panna Sharma, CEO of Lantern Pharma.

As a pioneer in the application of machine learning to oncology-focused drug development and clinical trial design, Lantern has published gene signatures derived from RADR as posters and presentations at both ASCO (Free ASCO Whitepaper) and AACR (Free AACR Whitepaper). Lantern’s pipeline of compounds includes one candidate in an active Phase 2 clinical trial for metastatic, hormone-refractory prostate cancer using a genomic signature for patient selection; another candidate in preparation for a Phase 2 clinical trial in non-small cell lung cancer in a targeted patient population; and a third candidate in two pre-clinical programs for biomarker-defined solid tumors and glioblastoma.

Mr. Sharma continued, "Because of the increasing availability of large-scale biomarker, genomic and patient data, and rapidly maturing technologies like artificial intelligence and machine learning, oncology is undergoing a monumental shift in the way cancer drugs are discovered, developed, studied, targeted, and commercialized. Lantern is at the forefront of this transformation. For Lantern, exceeding 450 million data points is a significant milestone in our work, and demonstrates our commitment to leveraging paradigm changing technologies that transform oncology drug development with the ultimate objective of cost-effectively personalizing treatment for patients."

Lantern Pharma is ahead of the initial platform development schedule, reaching 400 million data points by the end of 2020, which puts Lantern on track to reach over 1 billion data points earlier than expected. The developmental focus on increasing the number of data points, and improving the performance of the algorithms is expected to yield additional targeted indications for Lantern’s current pipeline of drugs, and also help to uncover additional compounds and therapies that can be in-licensed or acquired and subsequently developed in a more efficient manner that leverages the insights from Lantern’s data-driven, A.I.-enabled approach.

The market opportunity for RADR as a platform for the development of targeted oncology therapies is significant. The highly scalable RADR platform can be leveraged in multiple real-world applications, in addition to drug development, including: identifying potential drug combinations, predicting synergies with immune-oncology agents, developing companion diagnostics (CDx) and evaluating compounds for therapeutic efficacy and optimal positioning. Lantern is a pioneer in the adoption and implementation of data-driven and machine-learning enabled processes for drug development. The intersection of A.I., machine learning and genomics is considered a rapidly growing trend as researchers and investors turn to big data approaches to transform the cost, risk and timeline of oncology drug development.

"Lantern Pharma is using genomics, machine-learning and big data in an effort to develop potentially life-saving cancer drugs, and our ability to fulfill this mission with greater efficiency and speed will be enhanced by focusing on the overall strength and scale of our platform," concluded Mr. Sharma.

Ferring Pharmaceuticals successfully launches its inaugural Swiss Franc Bond offering for an amount of CHF 270 million

On June 29, 2020 Ferring Pharmaceuticals reported the successful launch of its inaugural Swiss Franc Bond offering for a benchmark amount of CHF 270 million (Press release, Ferring, JUN 29, 2020, View Source [SID1234561530]). This inaugural senior unsecured bond transaction issued by Ferring Holding SA has a fixed coupon rate of 1.05% per annum. The bond was issued at a price of 100.097% with a 5-year maturity on 9th July 2025, and will be listed on the SIX Swiss Exchange.

The offering attracted much interest from high-quality institutional investors and banks, demonstrating recognition of the company’s successful track record and solid cash generation. The company is rated as BBB (Credit Suisse) and Baa- (Fedafin), both with a stable outlook.

Dominic Moorhead, Chief Financial Officer of Ferring Pharmaceuticals, said "We are very happy with the successful outcome of our inaugural bond offering – and for a private company, entering a public capital market is a significant step. This is strong acknowledgement of the company’s achievements, and will enable us to firmly move forward with our next phase of growth."

The net proceeds from the transaction will be used for general corporate purposes including repayment of debt. The issue was lead-managed by Credit Suisse AG and Basler Kantonalbank, with Banque Cantonale Vaudoise acting as co-manager.

Aptose Announces FDA Allowance of IND for Phase 1a/b Study of CG-806 in Acute Myeloid Leukemia

On June 29, 2020 Aptose Biosciences Inc. (Nasdaq: APTO; TSX: APS), a clinical-stage company developing highly differentiated therapeutics that target the underlying mechanisms of cancer, reported that the U.S. Food and Drug Administration (FDA) completed its review of the company’s Investigational New Drug (IND) application and has granted IND allowance for the initiation of a Phase 1a/b clinical study of CG-806, the company’s highly potent, oral FLT3/BTK inhibitor, in patients with acute myeloid leukemia (AML) (Press release, Aptose Biosciences, JUN 29, 2020, View Source [SID1234561526]). CG-806 is currently in a Phase 1 dose escalation study in patients with B-cell malignancies, including chronic lymphocytic leukemia (CLL) and non-Hodgkin’s lymphomas (NHL), who have failed or are intolerant to current therapies.

"Our strategy was to identify a starting dose of CG-806 that we believe could be therapeutically active in critically ill patients with relapsed or refractory AML. We are pleased that the FDA has allowed us to initiate a clinical trial in these patients at a starting dose of 450mg BID. Despite recent advances in the treatment of AML, many patients relapse or remain refractory to current therapies leading to a poor overall prognosis," said Rafael Bejar, M.D., Ph.D., Senior Vice President and Chief Medical Officer. "Based on strong preclinical evidence of CG-806’s activity against AML – including demonstration of mutation-agnostic and genotype-agnostic potency, particularly compared against other FLT3 inhibitors, and its ability to safely cure AML in murine leukemia models – we believe CG-806 offers hope to the fragile and difficult-to-treat AML patient population. We continue to dose escalate in an ongoing study in patients with CLL and other B cell cancers, and are eager to advance this separate AML protocol through Institutional Review Boards at key clinical sites, recruit appropriate AML patients, and initiate dosing as soon as possible."

Aptose intends to initiate the Phase 1 a/b study in the second half of 2020 in AML patients who have relapsed, are resistant or refractory to current treatment.

About CG-806

CG-806 is an oral, first-in-class FLT3/BTK cluster selective kinase inhibitor and is in Phase 1 clinical studies for the treatment of hematologic malignancies. This small molecule demonstrates potent inhibition of wild type and all mutant forms of FLT3 (including internal tandem duplication, or ITD, and mutations of the receptor tyrosine kinase domain and gatekeeper region), cures animals of AML in the absence of toxicity in murine leukemia models, and represents a potential best-in-class therapeutic for patients with AML and other myeloid malignancies. Likewise, CG-806 demonstrates potent, non-covalent inhibition of the wild type and Cys481Ser (C481S) mutant forms of the BTK enzyme, as well as other oncogenic kinase pathways operative in B cell malignancies, suggesting CG-806 may be developed for various B cell malignancy patients (including CLL/SLL, FL, MCL, DLBCL and others) that are resistant/refractory/intolerant to covalent or other non-covalent BTK inhibitors. Because CG-806 targets key kinases/pathways operative in malignancies derived from the bone marrow, it is in development for B-cell cancers and AML.

Incyte Announces Approval of Tabrecta™ (capmatinib) in Japan for the Treatment of Patients with Advanced Non-Small Cell Lung Cancer with METex14

On June 29, 2020 Incyte (Nasdaq: INCY) reported that the Japanese Ministry of Health, Labour and Welfare (MHLW) approved Tabrecta (capmatinib) for MET exon 14 skipping (METex14) mutation-positive advanced and/or recurrent unresectable non-small cell lung cancer (NSCLC) (Press release, Incyte, JUN 29, 2020, View Source [SID1234561525]). Tabrecta is approved for first-line and previously treated patients, regardless of prior treatment type.

Tabrecta is the third Incyte-discovered medicine to receive approval in Japan. Novartis has exclusive worldwide development and commercialization rights to Tabrecta. Approval of Tabrecta in Japan triggers a $20 million milestone payment to Incyte, and Incyte is also eligible to receive 12-14% royalties on global net sales of Tabrecta by Novartis.

"We are grateful for the efforts of Novartis Pharma K.K. and MHLW and are delighted that this important, targeted treatment option will now become available to patients in Japan diagnosed with METex14 NSCLC," said Lothar Finke, M.D., Ph.D., Group Vice President, Head of Development and General Manager, Asia, Incyte. "This approval highlights the strength of the Incyte in-house discovery program, and our commitment to finding solutions for serious medical needs."

The approval of Tabrecta is based on results from the pivotal GEOMETRY mono-1 study. In the METex14 population (n=97), the confirmed overall response rate was 68% (95% CI, 48-84) and 41% (95% CI, 29-53) among treatment-naive (n=28) and previously treated patients (n=69), respectively, based on the Blinded Independent Review Committee (BIRC) assessment per RECIST v1.1. In patients taking Tabrecta, the study also demonstrated a median duration of response of 12.6 months (95% CI, 5.5–25.3) in treatment-naive patients (19 responders) and 9.7 months (95% CI, 5.5-13.0) in previously treated patients (28 responders). The most common treatment-related adverse events (AEs) (incidence ≥20%) are peripheral edema, nausea, fatigue, vomiting, dyspnea, and decreased appetite.

About Tabrecta

Tabrecta (capmatinib) is a kinase inhibitor that targets MET discovered by Incyte and licensed to Novartis in 2009. Under the terms of the Agreement, Incyte granted Novartis exclusive worldwide development and commercialization rights to capmatinib and certain back-up compounds in all indications. Incyte is eligible for a total of over $500 million in milestones as well as royalties of between 12-14% on global net sales by Novartis.

Achieve Life Sciences Announces Pricing of $6 Million Registered Direct Offering

On June 29, 2020 Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, reported that it has entered into a securities purchase agreement with certain institutional investors providing for the purchase and sale of 14,634,146 shares of common stock at a price of $0.41 per share in a registered direct offering, resulting in total gross proceeds of approximately $6 million, prior to deducting placement agent fees and estimated offering expenses (Press release, OncoGenex Pharmaceuticals, JUN 29, 2020, View Source [SID1234561524]). The offering is expected to close on or about July 1, 2020, subject to customary closing conditions.

Lake Street Capital Markets LLC is acting as exclusive placement agent for the registered direct offering.

The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-229019), which was declared effective by the United States Securities and Exchange Commission ("SEC") on February 11, 2019. The Company intends to use the proceeds from the offering to fund clinical research and development, and for general working capital.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by the Company with the SEC. When available, copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from Lake Street Capital Markets LLC, Prospectus Department, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402 or by email at [email protected].