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Lantheus Stockholders Approve Share Issuance For Merger with Progenics

On June 16, 2020 Lantheus Holdings, Inc. (NASDAQ: LNTH) ("Lantheus" or the "Company"), parent company of Lantheus Medical Imaging, Inc. ("LMI"), a leader in the development, manufacture and commercialization of innovative diagnostic imaging agents reported that, Lantheus’ stockholders voted to approve the issuance of common stock related to the Company’s proposed merger with Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) ("Progenics"), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer (Press release, Lantheus Medical Imaging, JUN 16, 2020, View Source [SID1234561151]).

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Lantheus and Progenics previously entered into an Amended and Restated Agreement and Plan of Merger, dated as of February 20, 2020 (the "Merger Agreement"), by and among Progenics, Lantheus and Plato Merger Sub, Inc., a wholly-owned subsidiary of Lantheus ("Merger Sub"). Pursuant to the Merger Agreement, Merger Sub will be merged with and into Progenics (the "merger"), with Progenics surviving the merger as a wholly-owned subsidiary of Lantheus.

Approximately 99% of the total votes cast by holders of Lantheus common stock were voted in favor of the share issuance proposal (excluding abstentions), representing approximately 87% of Lantheus’ shares issued and outstanding as of the close of business on May 12, 2020, the record date.

Mary Anne Heino, President and Chief Executive Officer of the Company, said, "We are very excited that our stockholders have approved the share issuance in connection with the Progenics merger and that the Progenics stockholders also approved the transaction earlier today. We believe that the combined company will offer a diversified portfolio of precision diagnostics, radiopharmaceutical therapeutics, digital solutions and pharma service offerings, delivering value across the patient health care continuum."

The merger remains subject to customary closing conditions. The parties expect to close the merger on or about June 19, 2020.

Personalis to Present at the Precision Breast Cancer Summit

On June 16, 2020 Personalis, Inc., (Nasdaq: PSNL) a leader in advanced genomics for cancer, reported the company’s participation at the Precision: Breast Cancer Summit, which will be held online, June 16-17, 2020 (Press release, Personalis, JUN 16, 2020, View Source [SID1234561150]).

Personalis will present "Enabling multidimensional tumor immunogenomics for advancing biomarker discovery," featuring the Personalis universal cancer immunogenomics platform, ImmunoID NeXTTM. Christelle Johnson, PhD, will present for Personalis.

Dr. Johnson will discuss challenges facing immuno-oncology translational and clinical researchers and review the importance of insights into the complex and dynamic interactions between the tumor and immune cells of the microenvironment. By combining highly sensitive, exome-scale DNA and RNA sequencing with advanced analytics, the ImmunoID NeXT Platform enables multidimensional biomarker discovery utilizing a single sample preparation. This presentation will feature a case study demonstrating the ability of this immunogenomics profiling platform to uncover tumor escape mechanisms and identify composite biomarkers of potentially greater predictive capacity from patients treated with immune checkpoint blockade.

NOXXON Announces Capital Increase Of €1.3 Million by Private Placement to Further Develop Its Business

On June 16, 2020 NOXXON Pharma N.V. (Paris:ALNOX) (Euronext Growth Paris: ALNOX) a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), reported the successful completion of its capital increase by issuing new ordinary shares with exclusion of pre-emptive subscription rights via a private placement to European investors for approximately €1.3 million (Press release, NOXXON, JUN 16, 2020, View Source [SID1234561149]).

"Having completed this capital increase, our cash balance is now over €10 million. To put this into context, cash consumption in the first five months of the year has been approximately €400k per month including the ongoing brain cancer trial. This strengthened financial foundation will enable us to consider and pursue additional opportunities for building value with NOXXON compounds, and ultimately facilitate the continued development of the company," said Aram Mangasarian, CEO of NOXXON.

On June 15, 2020 the Supervisory Board agreed to proceed with a capital increase excluding shareholders’ pre-emptive rights, in accordance with the delegation granted to it by the sixth resolution of the extraordinary general meeting of shareholders from January 02, 2019. All the subscriptions were received and the final completion of the capital increase was acknowledged by the Board of Directors at its meeting held on June 16, 2020.

The capital increase amounts to €1,302,000 and corresponds to the issue of 2,245,000 new shares at a subscription price of €0.58 per new share, i.e. a dilution rate of 5.7% of the capital after operation on a non-diluted basis. The subscription price of €0.58 per new share represents a discount of 10.4% on the average closing price of the shares over the seven trading days from June 4, 2020 to June 12, 2020.

Settlement of the transaction is planned to take place on June 17, 2020. The new shares will carry current dividend rights and will be admitted to trading on the Euronext Growth Paris market, on the same trading line as the existing shares, under ISIN code NL0012044762, as of June 18, 2020.

The company’s issued share capital, which is currently composed of 36,845,249 shares, will therefore be composed of 39,090,249 shares after the transaction. As an indication, the participation of a shareholder holding 1% of the company’s issued share capital prior to the capital increase (calculated on the basis of the number of shares of the company’s issued share capital as of June 12, 2020), would be, after the issuance of the 2,245,000 new shares, 0.94% of the capital. The issued share capital prior to this financing was €368,452.49 and will therefore become €390,902.49.

Detailed information about NOXXON, including information about its business, results and corresponding risk factors, was presented in the Annual Report 2019 and in the related press release dated April 22, 2020. The company’s press releases as well as other regulated information can be found on the company’s website (www.noxxon.com).

Boundless Bio Scientific Co-Founder Paul Mischel to Present at the American Association for Cancer Research (AACR) Virtual Annual Meeting II

On June 16, 2020 Boundless Bio, a company developing innovative new therapies directed to extrachromosomal DNA (ecDNA) in aggressive cancers, reported that scientific co-founder, Paul Mischel, M.D., will be lecturing on the foundational role that ecDNA plays in driving resistance to standard of care therapies at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Virtual Annual Meeting II, held June 22-24, 2020 (Press release, Boundless Bio, JUN 16, 2020, View Source [SID1234561148]).

Track: Educational Session
Session: Overcoming Therapeutic Resistance: Challenges and Opportunities
Presentation Title: Tumor heterogeneity and the evolution of drug resistance
Date: Tuesday, June 23, 2020
Time: 3:30 p.m. – 4:00 p.m. EDT

About ecDNA

Extrachromosomal DNA, or ecDNA, are distinct circular units of DNA containing functional genes that are located outside cells’ chromosomes and can make many copies of themselves. ecDNA rapidly replicate within cancer cells, causing high numbers of oncogene copies, a trait that can be passed to daughter cells in asymmetric ways during cell division. Cancer cells have the ability to upregulate or downregulate oncogenes located on ecDNA to ensure survival under selective pressures, including chemotherapy, targeted therapy, immunotherapy, or radiation, making ecDNA one of cancer cells’ primary mechanisms of recurrence and treatment resistance. ecDNA are rarely seen in healthy cells but are found in many solid tumor cancers. They are a key driver of the most aggressive and difficult-to-treat cancers, specifically those characterized by high copy number amplification of oncogenes.

C4 Therapeutics Raises $170 Million Financing to Bring Robust Pipeline of Protein Degraders to Clinical Proof-of-Concept and to Advance Proprietary Platform

On June 16, 2020 C4 Therapeutics, Inc. (C4T), a biotechnology company pioneering a new class of small-molecule drugs that selectively destroy disease-causing proteins via degradation, reported the closing of a $170 million financing, including $150 million in Series B equity co-led by existing investor Cobro Ventures and new investor Perceptive Advisors and $20 million in venture debt by Perceptive Advisors (Press release, C4 Therapeutics, JUN 16, 2020, View Source [SID1234561147]). Additional new equity investors in the round included Adage Capital Management, Axil Capital, Bain Capital Life Sciences, Commodore Capital, 3E Bioventures Capital, HBM Healthcare Investments, Lightchain Capital, Logos Capital, Mizuho Securities Principal Investment, Nextech, RA Capital Management, RTW Investments, Sphera Funds Management, Taiwania Capital Management, Yonjin Venture, and funds and accounts managed by T. Rowe Price Associates, Inc and Janus Henderson Investors. Existing investors also participated.

C4T will use the proceeds to advance multiple degrader drug candidates to human proof-of-concept and to expand the Company’s capabilities. C4T has invested significantly in its TORPEDO platform, which combines a robust chemistry engine, proprietary assays, and high throughput screening with predictive modeling for accelerated, informed, and efficient discovery and design of high-quality drug candidates.

"This funding comes at a significant juncture, as our company is moving to a clinical stage. We plan on filing our first IND by the end of this year and expect to have four drug candidates in the clinic by the end of 2022. We have a deep pipeline addressing a diverse set of oncology indications that provides us with significant optionality. Protein degraders allow for more potent and durable pharmacologic responses than traditional inhibitors, and we bring a differentiated approach to this transformative modality through our proprietary TORPEDO platform," said Marc Cohen, Co-Founder, Chairman and CEO of C4 Therapeutics. "We look forward to advancing our programs with the goal of bringing new therapeutics to patients suffering from life-threatening diseases and are thrilled to have attracted top-tier life science investors to our company in this very oversubscribed round."

"C4 Therapeutics is a pioneer in this exciting and promising new protein degradation space," said Adam Stone, Chief Investment Officer of Perceptive Advisors and co-lead of this financing. "With their strong science and world class team we have no doubt that they will be able to bring powerful new therapeutics to patients and we are excited to collaborate with C4T on this important mission."

"C4T remains at the forefront of this novel modality with its proprietary platform validated by high-value strategic partnerships," added Todd Kaloudis, Managing Director at Cobro Ventures, co-lead of this round. "We are proud to support C4T in its mission to destroy disease-causing proteins and deliver breakthrough treatments for significant unmet medical needs."

Jefferies and Locust Walk served as transaction advisors to the Company in the Series B financing.