BioNTech to Raise USD 250 Million in Private Placement

On June 29, 2020 BioNTech SE (Nasdaq: BNTX, "BioNTech" or "the Company"), a clinical-stage biotechnology company focused on patient-specific immunotherapies for the treatment of cancer and infectious diseases, reported a private investment of USD 250 million (EUR 223 million) by Temasek and other accredited investors (Press release, BioNTech, JUN 29, 2020, View Source [SID1234561522]). The private placement includes an investment of approximately USD 139 million in ordinary shares and a USD 112 million investment in 4-year mandatory convertible notes.

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"We are pleased to welcome Temasek onboard as a new shareholder. We believe their long-term investment approach, global presence, and deep experience in the biotechnology field are a good fit with our vision to build a leading global biopharmaceutical company," said Ugur Sahin, CEO and Co-founder of BioNTech.

Upon closing, private placement investors will receive 2,595,996 ordinary shares in BioNTech, which will be subject to a 180-day lock-up agreement. The 4-year mandatory convertible notes will come with a coupon of 4.5% per annum and a conversion premium of 20% above the reference price. The investment is expected to close in early- to mid-August, subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security. The securities referenced herein have not been and will not be registered under the Securities Act of 1933, as amended (Securities Act), or applicable state securities laws and may not be offered or sold in the United States or any state thereof absent registration under the Securities Act and applicable state securities laws or an applicable exemption from registration requirements.

Novartis announces MET inhibitor Tabrecta™ approved in Japan for advanced non-small cell lung cancer with METex14

On June 29, 2020 Novartis Pharma K.K. ("Novartis Pharma") reported that the Japanese Ministry of Health, Labour and Welfare (MHLW) approved Tabrecta (capmatinib, formerly INC280), an oral MET inhibitor for MET exon 14 skipping (METex14) mutation-positive advanced and/or recurrent unresectable non-small cell lung cancer (NSCLC) (Press release, Novartis, JUN 29, 2020, View Source [SID1234561520]). Tabrecta is approved for first-line and previously treated patients, regardless of prior treatment type.

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"With the remarkable overall response rates seen both in treatment-naive and previously treated patients, we are thrilled that MHLW has added Tabrecta as a new treatment option for patients with advanced NSCLC with METex14," said Brian Gladsden, President of Novartis Oncology Japan. "Today’s approval reinforces the potential benefit this new MET inhibitor can bring to thousands of patients diagnosed in Japan each year and is a positive step in our journey to transform the lives of patients with lung cancer."

The approval of Tabrecta is based on results from the pivotal GEOMETRY mono-1 Phase II multi-center, non-randomized, open-label, multi-cohort 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.

The companion diagnostic to Tabrecta, FoundationOneCDx Cancer Genomic Profile, was approved by MHLW on May 25th of this year, to aid in detecting mutations that lead to MET exon 14 skipping in tumor tissue.

About Tabrecta (capmatinib)
Tabrecta (capmatinib) is a kinase inhibitor that targets MET. Tabrecta was licensed to Novartis by Incyte Corporation in 2009. Under the Agreement, Incyte granted Novartis worldwide exclusive development and commercialization rights to capmatinib and certain back-up compounds in all indications. In May 2020, Tabrecta was approved by the US Food and Drug Administration (FDA) for adult patients with metastatic NSCLC whose tumors have a mutation that leads to METex14 as detected by an FDA-approved test. This indication was approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trial(s).

Novartis receives simultaneous approval for five new products from Japanese Ministry of Health, Labour and Welfare, offering Japanese patients a broad range of novel treatment options

On June 29, 2020 Novartis Pharma K.K. ("Novartis Pharma") reported that the Japanese Ministry of Health, Labour and Welfare (MHLW) simultaneously approved five new treatment options for Japanese patients (Press release, Novartis, JUN 29, 2020, View Source [SID1234561519]):

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Tabrecta (capmatinib, formerly INC280), an oral MET inhibitor for MET exon 14 skipping (METex14) mutation-positive advanced and/or recurrent unresectable non-small cell lung cancer (NSCLC),
Entresto (sacubitril valsartan sodium hydrate) in chronic heart failure,
Mayzent (siponimod fumaric acid) in secondary progressive MS,
Enerzair (glycopyrronium bromide, indacaterol acetate, mometasone furoate) and
Atectura (indacaterol acetate, mometasone furoate) in different forms of asthma
"The simultaneous approval of five new products is remarkable for Japan and our industry. We are pleased to see that our innovative products gain the support from leading regulatory bodies", said Kazunari Tsunaba, Representative Director and President of Novartis Pharma. "All five medicines are truly novel and transformative treatments and therefore mark an important milestone in our mission to reimagine medicine. I would like to thank our Japanese and global colleagues for all their dedication to make this unprecedented milestone happen."

To date, Novartis has received seven new product approvals in Japan this year. In addition to today’s five approvals, in March, Novartis was granted marketing authorizations for spinal muscular atrophy treatment Zolgensma and for Beovu, an anti-VEGF treatment for wet AMD. These approvals and today’s very unprecedented milestone stand testament to the overall strength of Novartis innovative medicines pipeline and its commitment to ensure patients in Japan have timely access to these life-changing medicines.

Oblique Therapeutics and Targovax Enter Collaboration to Target Mutant RAS Cancers by Combining Their ONCOS and Abiprot™ Platforms

On June 29, 2020 Oblique Therapeutics reported that it has entered into a collaboration agreement with Targovax ASA (OSE: TRVX), a clinical stage immuno-oncology company developing oncolytic viruses to target hard-to-treat solid tumors, to evaluate the potential of using ONCOS oncolytic adenoviruses as a vector to encode and deliver AbiprotTM antibodies against hard-to-reach intra-cellular targets (Press release, Oblique Therapeutics, JUN 29, 2020, View Source [SID1234561512]).

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Oblique Therapeutics has developed a unique, proprietary methodology to identify epitopes on targets that have previously proven difficult to address with antibodies. This approach can be extended to intra-cellular targets such as mutant RAS, however, delivering antibodies into cells remains a major obstacle.Oblique Therapeutics and Targovax anticipate that expression of AbiprotTM antibodies against such targets using ONCOS as a vector can overcome this challenge and boost the specificity and power of the anti-tumor response.

Under the agreement the parties will jointly explore the technical feasibility and in vitro and in vivo functionality and anti-cancer activity of the ONCOS-Abiprot combination, initially focusing on mutant RAS as the target. If successful, this would provide a first-in-class oncolytic virus candidate directly targeting RAS and demonstrate proof-of-concept for ONCOS-AbiprotTM as a new technology platform.

Dr. Sreesha P Srinivasa, Ph.D., Senior Vice President, Translational R&D Oblique Therapeutics, commented, "We are delighted to partner with Targovax in extending the capabilities of our proprietary AbiprotTM platform to translate antibodies against difficult to reach intra-cellular targets into effective therapeutics. RAS is one of the most frequently mutated oncogenes but has until recently proven to be therapeutically intractable. Oblique has used its AbiprotTM platform to identify novel epitopes on mutant RAS and developed functional antibodies against these epitopes. The ONCOS platform potentially offers an efficient vehicle for intracellular delivery of these functional antibodies into cancer cells. If proven successful, this extends the target space addressable by antibodies to a large number of very important intracellular oncogenes"

Dr. Victor Levitsky, Ph.D., Chief Scientific Officer of Targovax, said: "We continue to explore innovative strategies to expand our ONCOS platform into mutant RAS immunotherapy, and we are very excited to initiate this collaboration with our colleagues at Oblique Therapeutics. With AbiprotTM they have built a cutting-edge methodology to develop antibodies against historically difficult targets to address, such as mutant RAS. By employing ONCOS as a vector for Oblique’s antibodies we believe we can both enhance antibody delivery into cancer cells and strengthen the oncolytic power of the ONCOS virus, and thus drive a synergistic effect between the two modalities"

DEP irinotecan boosts immuno-oncology in colon cancer models

On June 29, 2020 Starpharma (ASX: SPL, OTCQX: SPHRY) reported its SN-38 nanoparticle, DEP irinotecan in combination with an immuno-oncology (IO) agent (anti PD-1 antibody) showed superior anti-tumour activity and significant survival benefit in two colorectal cancer (CRC) models when compared to the anti PD-1 antibody alone (Press release, Starpharma, JUN 29, 2020, View Source [SID1234561510]). These results included improvement in both survival and efficacy in the particularly aggressive CT-26 CRC model.

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The median survival for the combination of DEP irinotecan + IO agent (anti PD-1 antibody) was 40 days compared with 13 days for the IO agent alone (refer to the study results below). The enhanced combination benefit seen with DEP irinotecan was not seen with conventional irinotecan + the same IO agent. These preclinical results provide a strong rationale for clinical evaluation of DEP irinotecan in combination with IO agents, potentially opening up significant additional commercial opportunities.

IO agents including Keytruda (an anti PD-1 antibody) have been approved and have been highly successful in a range of cancers including lung cancers and melanoma. However clinical trial results thus far with IO agents alone have been disappointing in some cancers, including CRC. Anti PD-1 antibodies have been a major breakthrough in cancer treatment, but substantial unmet need remains and non-responders make up more than 75% of all incident cancers, highlighting the need for more effective agents and combinations[2].

DEP irinotecan is a novel, patented dendrimer nanoparticle of SN-38, the active metabolite of irinotecan. DEP irinotecan recently progressed to phase 2. In a phase 1 trial conducted in major cancer centres in the UK, DEP irinotecan was well-tolerated and patients generally experienced less severe side effects than with conventional irinotecan, including no cases of severe diarrhoea, for which conventional irinotecan has a FDA black box warning. Encouraging efficacy signals with DEP irinotecan were also observed in 50% of evaluable patients – not only in patients with CRC but also in patients with breast and pancreatic cancer.

Dr Jackie Fairley, Starpharma CEO, commented: "We are delighted to see the dual benefits of combining DEP irinotecan with an immuno-oncology (IO) agent. These results indicate that DEP irinotecan in combination with an anti PD-1 antibody could boost the efficacy over anti PD-1 antibody alone, or IO combinations with standard chemotherapeutic agents. IO agents including anti PD-1 antibodies have yielded excellent efficacy results in some patient groups. However, between 30-60% of patients do not respond to IO treatments alone[3], therefore there is significant commercial interest in combination approaches, including with chemotherapeutics, to overcome this limitation[4]".

"In addition, there have been no observations of immune-mediated toxicities in patients treated with DEP irinotecan. Given immune-mediated toxicities can be problematic with IO agents, the lack of overlapping side-effects further strengthens the rationale for combining IO agents with DEP irinotecan", added Dr Fairley.

DEP irinotecan is one of three DEP products in clinical development by Starpharma, and is currently in a phase 2 clinical trial at leading UK hospitals, The Christie, The Royal Marsden and Newcastle Freeman Hospital. Two further sites, the Beatson (Scotland) and Kinghorn Cancer Centre (Sydney) will be opened shortly.

The market for IO agents is expected to exceed US$55 billion by 2025[5]. Market leading products include the PD-1 antibody Keytruda (Merck; 2019 sales: US$ 11.08B)[6] and Opdivo (BMS; 2019 sales: US$ 7.20B), the CTLA-4 inhibitor Yervoy (BMS; 2019 sales: US$ 1.49B)[7] and the PD-L1 inhibitor Imfinzi (AZ; 2019 sales: US$ 1.47B)[8].

Study Results

Significant enhancement of anti PD-1 antibody (anti PD-1 Ab) activity by DEP irinotecan in both CT-26 and MC-38 colon cancer models (Figure 1 and 2)

Anti PD-1 antibody alone had minimal impact on this CT-26 model, but efficacy was greatly enhanced when combined with DEP irinotecan in both the CT-26 (Figure 1) and MC-38 (Figure 2) models. The CT-26 model is recognised as being a highly aggressive CRC model, therefore this result is particularly impressive.

Figure 1: Mean tumour volumes over time as measured in the mouse allograft study using CT-26 murine colorectal cancer cells (n=5). DEP irinotecan + anti PD-1 Ab in combination had a statistically significant greater anti-tumour effect than anti PD-1 Ab alone (p=0.0002) and DEP irinotecan alone (p=0.0146).

Figure 2: Mean tumour volumes over time as measured in the mouse allograft study using MC-38 murine CRC cells (n=5). DEP irinotecan + anti PD-1 Ab combination had a statistically significant greater anti-tumour effect compared with anti PD-1 Ab alone (p=0.0001).

Significant survival benefit seen with DEP irinotecan + anti PD-1 Ab combination (Figure 3)

Enhanced survival, which was statistically significant, was seen in both the DEP irinotecan treated group and the DEP irinotecan + anti PD-1 Ab combination group (Figure 3a CT-26 (p=0.0014) and Figure 3b MC-38 (p<0.0001)). Median survival was extended more than 3‑fold, from 13 days (anti PD-1 Ab alone) to 40 days (DEP irinotecan + anti PD-1 Ab) in the CT-26 allograft study and 22 days (anti PD-1 Ab alone) to >64 days (DEP irinotecan + anti PD-1 Ab) in the MC-38 allograft study.

Kaplan-Meier survival curve in the mouse allograft study using a) CT-26 and b) MC-38 murine CRC cells. Dotted line shows the median survival (days).

Superior combination benefit of anti PD-1 Ab provided by DEP irinotecan compared to conventional irinotecan

The combination of DEP irinotecan + anti PD-1 Ab had a significantly greater anti-cancer effect than anti PD-1 Ab alone (p=0.0016) or conventional irinotecan + anti PD-1 Ab (p=0.0156) and the DEP irinotecan + anti PD-1 Ab combination also showed improved survival (p<0.0001). Median survival was extended from 14 days (anti PD-1 Ab alone) to 27 days (DEP irinotecan + anti PD-1 Ab) in the CT-26 model.

a) Mean Tumour volumes over time as measured in the mouse allograft study using CT-26 murine colorectal cancer cells (n=12);b) Kaplan-Meier survival curve in the mouse allograft study using CT-26 murine colorectal cancer cells. Dotted line shows the median survival (days).

Study Methods

These studies were conducted for Starpharma by an internationally recognised translational cancer group using mouse allograft models which are the standard means of assessing efficacy of IO agents, including anti PD-1 antibodies. Testing of IO agents requires a functioning immune system, so anti-cancer efficacy cannot be assessed in human cancer xenograft models.

Study 1:

Balb/c mice were inoculated subcutaneously with the murine colorectal (CT-26) cell line (5 mice/group). Dosing groups were as follows:

Vehicle Control: – antibody isotype control, twice weekly ip, for 4 doses – on day 1 (200 µg per mouse) then on days 5, 8 and 12 (100 µg per mouse)
Anti PD-1 Ab: anti PD-1 Ab, twice weekly ip, for 4 doses – on day 1 (200 µg per mouse) then on days 5, 8 and 12 (100 µg per mouse)
DEP irinotecan: DEP irinotecan (18mg/kg) once weekly iv, for 3 weeks and antibody isotype control twice weekly ip, for 4 doses
DEP irinotecan + anti PD-1 Ab: DEP irinotecan once weekly iv, for 3 weeks and anti PD-1 antibody twice weekly ip, for 4 doses
Study 2:

C57BL/6 mice were inoculated subcutaneously with murine colorectal (MC-38) cells (5 mice/group). Dosing groups were as follows:

Vehicle Control: – antibody isotype control, twice weekly ip, for 4 doses – on days 1, 5, 8 and 12 (200 µg per mouse)
Anti PD-1 Ab: anti PD-1 antibody, twice weekly ip, for 4 doses – on days 1, 5, 8 and 12 (200 µg per mouse)
DEP irinotecan: DEP irinotecan (30mg/kg) once weekly iv, for 3 weeks and antibody isotype control twice weekly ip, for 4 doses
DEP irinotecan + anti PD-1 Ab: DEP irinotecan (30mg/kg) once weekly iv, for 3 weeks and anti PD-1 antibody twice weekly ip, for 4 doses
Study 3:

Balb/c mice were inoculated subcutaneously with murine colorectal (CT-26) cells (12 mice/group). Dosing groups were as follows:

Vehicle Control: – antibody isotype control, twice weekly ip, for 4 doses – on day 1 (200 µg per mouse) then on days 5, 8 and 12 (100 µg per mouse)
Anti PD-1 Ab: anti PD-1 Ab, twice weekly ip, for 4 doses – on day 1 (200 µg per mouse) then on days 5, 8 and 12 (100 µg per mouse)
Irinotecan + anti PD-1 Ab: Irinotecan (75mg/kg) once weekly iv, for 3 weeks and anti PD-1 antibody twice weekly ip, for 4 doses
DEP irinotecan + anti PD-1 Ab: DEP irinotecan (20mg/kg) once weekly iv, for 3 weeks and anti PD-1 Ab twice weekly ip, for 4 doses
In all studies, tumours were measured twice weekly using electronic callipers. The tumour volume (mm3) data represent the mean ± standard error of the mean (SEM). Tumour volume data was analysed using a two-way ANOVA – mixed effects analysis. Survival curves were analysed using ANOVA with a Log-rank (Mantel-Cox) test. Note: If error bars do not display on the graphs, they are not visible because they are shorter than the height of the symbol.