1stOncology™: Cancer Intelligence Service – Page 11778 – 1stOncology is recognized as a Top 10 Global Pharma Analytic Provider

Everest Medicines Announces the Offer Price and Allotment Results of the Global Offering

On October 8, 2020 Everest Medicines Limited ("Everest Medicines" or the "Company"; Stock Code: 1952.HK), a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other parts of Asia, reported the allotment results of the global offering (the "Global Offering") (Press release, Everest Medicines, OCT 8, 2020, View Source [SID1234568263]). The Offer Price has been determined at HK$55.00 per Offer Share.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

Schedule Your 30 min Free Demo!

The Hong Kong Public Offer Shares initially offered under the Hong Kong Public Offering have been very significantly over-subscribed. A total of 308,757 valid applications have been received pursuant to the Hong Kong Public Offering through the White Form eIPO service and through the CCASS EIPO service for a total of 4,158,771,500 Hong Kong Public Offer Shares, representing approximately 654.41 times of the total number of 6,355,000 Hong Kong Public Offer Shares initially available for subscription under the Hong Kong Public Offering.

As the over-subscription in the Hong Kong Public Offering represents more than 100 times of the total number of Offer Shares initially available under the Hong Kong Public Offering, the reallocation procedure as disclosed in the section headed "Structure of the Global Offering – The Hong Kong Public Offering – Reallocation" in the Prospectus has been applied and 25,419,000 Offer Shares have been reallocated from the International Offering to the Hong Kong Public Offering. The final number of Offer Shares under the Hong Kong Public Offering is 31,774,000 Offer Shares, representing approximately 50% of the total number of Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option).

The Offer Shares initially offered under the International Offering have been over-subscribed, representing approximately 27.0 times of the total number of Offer Shares initially available under the International Offering. After reallocation of the Offer Shares to the Hong Kong Public Offering from the International Offering, the final number of Offer Shares under the International Offering is 31,773,000 Shares, representing approximately 50% of the total number of Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option). There has been an over-allocation of 9,532,000 Offer Shares and there are a total of 213 placees under the International Offering.

Based on the Offer Price of HK$55.00 per Offer Share, the net proceeds from the Global Offering to be received by the Company, after deduction of underwriting fees and commissions and estimated expenses payable by the Company in connection with the Global Offering, are estimated to be approximately HK$3,284.1 million (assuming the Over-allotment Option is not exercised).

The Company intends to apply the net proceeds from the Global Offering to develop and commercialize its four anchor products, to fund ongoing and planned clinical trials, preparation for registration filings and potential commercialization of other drug candidates in the Company’s pipeline, to fund the Company’s business development activities and the expansion of its drug pipeline, and for working capital and general and administrative purposes.

Dealings in the Shares on the Main Board of the Stock Exchange are expected to commence at 9:00 a.m. on Friday, October 9, 2020. The Shares will be traded in board lots of 500 Shares each, the stock code of the Shares is 1952.HK.

Goldman Sachs (Asia) L.L.C. and Merrill Lynch Far East Limited are the Joint Sponsors. Goldman Sachs (Asia) L.L.C., Merrill Lynch (Asia Pacific) Limited, Citigroup Global Markets Asia Limited, China International Capital Corporation Limited and Credit Suisse (Hong Kong) Limited are the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers. Citigroup Global Markets Limited (in relation to International Offering), Nomura International (Hong Kong) Limited and Brocade River Asset Management Limited are the Joint Bookrunners and Joint Lead Managers.

Chengdu’s Hinova Pharma Raises $147 Million for Novel Prostate, Gout Drugs

On October 8, 2020 Hinova Pharmaceuticals, a Chengdu innovative drug company, reported that it closed a $147 million Series C round (Press release, Hinova Pharmaceuticals, OCT 8, 2020, View Source [SID1234568248]). The company said it would use the proceeds to conduct multi-center clinical trials and commercialize its drug candidates in China and internationally. Founded in 2013, Hinova has built a portfolio of nine drug candidates including HC-1119, a novel androgen receptor antagonist in Phase III trials for metastatic castration-resistant prostate cancer (mCRPC). Its other lead drug targets gout.

Nordic Nanovector publishes results of preclinical study demonstrating Betalutin® reverses tumour resistance to rituximab in NHL disease models

On October 8, 2020 Nordic Nanovector ASA (OSE: NANO) reported that its preclinical study investigating the ability of Betalutin (177Lu-lilotomab satetraxetan) to reverse rituximab-resistance in disease models of non-Hodgkin’s lymphoma (NHL) has been published in the October 2020 issue of The Journal of Nuclear Medicine (M. Malenge et al*) (Press release, Nordic Nanovector, OCT 8, 2020, View Source [SID1234568246]).

NHL is the most common blood cancer and has a high mortality rate. The CD20-targeting monoclonal antibody immunotherapy rituximab was approved for treatment of NHL more than 20 years ago and is the current standard of care. However, many patients eventually develop resistance against rituximab, which is often associated with changes (a decrease) in expression of the CD20 antigen on NHL cells.

The study found that:

Betalutin (an anti-CD37 radioimmunoconjugate) acted synergistically with rituximab (anti-CD20 immunotherapy) to suppress tumour growth in a rituximab-resistant xenograft NHL mouse model.
The median survival time of mice treated with this combination doubled when compared to survival of mice given Betalutin monotherapy and was five times longer than for mice given rituximab monotherapy.
In NHL cell lines, Betalutin was found to substantially increase CD20 expression and rituximab binding to rituximab-resistant Raji2R cells and to increase rituximab-mediated antibody-dependent cellular cytotoxicity (ADCC) activity, resulting in significant tumor growth delay.
"This work is potentially very important, as it could provide a welcome treatment option for the large pool of NHL patients who have become resistant to rituximab. If those patients receive an injection of Betalutin, they could be treated again with rituximab and have an improved response," said Dr Jostein Dahle, Chief Scientific Officer of Nordic Nanovector. "In a Phase 1b clinical trial, a 100 percent complete response rate was achieved in the first group of patients treated with Betalutin followed by rituximab. Achieving a complete response is very important as it usually correlates with an improved duration of response and overall survival."

Dr Dahle continued, "Combination treatments are the future for cancer therapy. By exploring strategies with radioimmunotherapy together with other drugs, nuclear medicine may play an important role in lymphoma therapy."

Intec Pharma Announces New Research Collaboration Agreement with MSD

On October 8, 2020 Intec Pharma Ltd. (NASDAQ: NTEC) ("Intec" or "the Company") reported it has entered into a new research collaboration agreement with MSD, the tradename of Merck & Co., Inc., Kenilworth, NJ, USA. Details of the agreement are confidential (Press release, Intech Pharmaceuticals, OCT 8, 2020, View Source [SID1234568245]).

"We are very excited to continue to work with MSD," said Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma. "This new agreement builds upon the relationship we have enjoyed in prior research and allows the companies to leverage their combined experience in delivery."

Bausch Health Companies Inc. Provides Preliminary Update On Third-Quarter 2020 Financial Results And Business Recovery

On October 8, 2020 Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") reported provided a preliminary update on its third-quarter 2020 financial results and the pace of its business recovery from the COVID-19 pandemic (Press release, Bausch Health, OCT 8, 2020, View Source [SID1234568244]).

Bausch Health expects third-quarter 2020 revenue to be greater than $2.1 billion, which would be a sequential increase of approximately 28% compared to the second quarter of 2020. Reported revenue in the second quarter of 2020 declined 23% compared to the second quarter of 2019, and the Company expects third-quarter 2020 reported revenue to decline approximately 3% compared to the third quarter of 2019.

Additionally, based on the pace of recovery of its various businesses observed in the third quarter of 2020 and assuming its businesses continue to rebound from the impact of the COVID-19 pandemic, Bausch Health currently expects its full-year 2020 revenue and Adjusted EBITDA (non-GAAP) to be around the midpoint of its current guidance ranges of $7.80 – $8.00 billion for revenue and $3.15 – $3.30 billion for 2020 Adjusted EBITDA (non-GAAP).

Other than with respect to GAAP Revenues, the Company only provides guidance on a non-GAAP basis. The Company does not provide a reconciliation of forward-looking Adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the GAAP equivalent for certain costs, such as amortization, which would otherwise be treated as non-GAAP to calculate projected GAAP net income (loss). However, because other deductions (such as restructuring, gain or loss on extinguishment of debt and litigation and other matters) used to calculate projected net income (loss) vary dramatically based on actual events, the Company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material and, therefore, could result in projected GAAP net income (loss) being materially less than projected Adjusted EBITDA (non-GAAP). The financial results estimates proposed above within the full-year guidance ranges reflect our assumptions due to the recovery of the Company’s business from the actual impacts of the COVID-19 pandemic in the third quarter. These impacts have affected the Company’s assumptions regarding base performance and growth rates. These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-looking Statements section of this news release.

The Company will release its full financial results for the third quarter of 2020 on Tuesday, Nov. 3, 2020. Bausch Health will host a conference call and live web cast at 8:00 a.m. ET to discuss the results and provide a business update. All materials will be made available on the Investor Relations section of the Bausch Health website prior to the start of the call.