PIC Therapeutics Raises $5 Million to Advance Development of Small Molecules That Selectively Modulate eIF4E

On April 15, 2020 PIC Therapeutics ("PIC"), a biotechnology company focused on transforming the treatment of cancer though the selective modulation of oncogene translation, reported that it closed a $5M Series Seed round of preferred equity funding (Press release, PIC Therapeutics, APR 15, 2020, View Source [SID1234556361]).

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The oversubscribed round was led by Advent Life Sciences ("Advent"), and included participation by Belinda Termeer, widow of legendary Genzyme CEO Henri Termeer, as well as several biopharmaceutical industry executives and other individual investors.

PIC Therapeutics was founded based on the extensive research of scientific founder Professor Gerhard Wagner of Harvard University and is led by founding CEO Sun Altbach, a 20+ year life sciences veteran and by Dr. Alan Walts, Executive Chairman and Venture Partner at Advent Life Sciences. PIC is supported by a world-renowned Scientific Advisory Board and Board of Directors.

PIC targets the "master switch" of cancer signaling pathways, blocking oncogene protein production by selectively modulating the Pre-Initiation Complex (PIC), specifically eIF4E – a convergence point driving oncogene RNA translation. PIC Therapeutics’ targeted approach has the potential to simultaneously impact multiple oncogenic drivers leading to a powerful new generation of cancer-treating therapeutics that address drug resistance and tumor heterogeneity, issues that plague many existing treatments.

Sun Altbach, CEO commented, "This is an important step for PIC as we seek to transform how cancer is treated and therefore make a significant difference in patients’ lives. With this funding in hand we can accelerate our program focusing on allosteric regulation of eIF4E via an innovative drug development platform designed to produce early proof of concept in advance of the clinic."

Alan Walts, Executive Chairman and Venture Partner at Advent added, "PIC is a leader in the rapidly advancing field of translational modulation of oncogenes. PIC has developed a best in class portfolio of proprietary small molecule modulators of eIF4E and a comprehensive platform to validate human tumor activity. We are pleased to support their efforts to develop a new class of cancer therapies."

PIC’s Board of Directors consists of:

Alan Walts, PhD, Executive Chairman of the Board; Venture Partner, Advent Life Sciences
Sun Altbach, MBA, CEO and President, PIC Therapeutics
Richard Peters, MD, PhD, Co-Founder, PIC Therapeutics; CEO Yumanity Therapeutics
Belinda Termeer, Termeer Foundation
Gerhard Wagner, PhD, Co-Founder, PIC Therapeutics; Elkan Rogers Blout Professor of Biological Chemistry and Molecular Pharmacology, Harvard Medical School
PIC’s Scientific and Corporate Advisory Board consists of:

Keith Flaherty, MD, Director of Clinical Research at the Cancer Center at MGH
Jennifer Petter, PhD, Founder and Chief Scientific Officer of Arrakis Therapeutics
Nahum Sonenberg, PhD, Biochemistry Professor and Gilman Cheney Chair, McGill University
Yat Sun Or, PhD, Chief Scientific Officer, Enanta Pharmaceuticals
Jan Van Heek, MBA, Board Member, Amarin Corporation and Minerva Neuroscience
Gerhard Wagner, PhD, Co-Founder, PIC Therapeutics; Elkan Rogers Blout Professor of Biological Chemistry and Molecular Pharmacology, Harvard Medical School

QIAGEN Launches Therascreen BRAF Test as Companion Diagnostic to a BRAFTOVI® (encorafenib) Based Regimen in Metastatic Colorectal Cancer

On April 15, 2020 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported launch of its novel therascreen BRAF V600E RGQ PCR Kit (therascreen BRAF V600E Kit) following U.S. Food and Drug Administration (FDA) approval as a companion diagnostic to the BRAF inhibitor, BRAFTOVI (encorafenib), which the FDA has approved for use in combination with cetuximab for the treatment of adult patients with metastatic colorectal cancer (CRC) with a BRAF V600E mutation, as detected by an FDA-approved test, after prior therapy (Press release, Qiagen, APR 15, 2020, View Source [SID1234556360]).

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Colorectal cancer is the third most common type of cancer, and approximately 150,000 patients a year in the United States are diagnosed with CRC. In primary and metastatic CRC, BRAF mutations (nearly always V600E) are present in up to 15% of patients and are thought to be key drivers of tumor growth. Detection of the V600E mutation utilizing the therascreen BRAF V600E assays will help identify patients eligible for treatment with the newly approved combination of BRAFTOVI and cetuximab. The therascreen BRAF V600E kit runs on QIAGEN’s Rotor-Gene Q MDx, a member of the modular QIAsymphony family of automation solutions.

"We are very excited about the launch of the new therascreen BRAF V600E Kit, our first companion diagnostic test to obtain FDA approval for the detection of a mutation in the BRAF gene and our third CDx approval in colorectal cancer. Using our new test to help guide treatment decisions in colorectal cancer will address a high unmet medical need among patients," said Jonathan Arnold, Vice President and Head of Partnering for Precision Diagnostics at QIAGEN. "The new therascreen BRAF V600E Kit will be available to accelerate the availability of innovations in precision medicine."

Samsung Bioepis Announces US Launch of ONTRUZANT® (trastuzumab-dttb) for Early and Metastatic HER2-overexpressing Breast Cancer and Metastatic Gastric Cancer

On April 15, 2020 Samsung Bioepis Co., Ltd. reported that ONTRUZANT (trastuzumab-dttb), a biosimilar of the reference biologic medicine HERCEPTIN1 (trastuzumab) for the treatment of HER2-overexpressing breast cancer, metastatic breast cancer, and metastatic gastric cancer or gastroesophageal junction adenocarcinoma, is now available in the United States (Press release, Samsung Bioepis, APR 15, 2020, View Source [SID1234556359]). Patients should be selected for therapy based on an FDA-approved companion diagnostic for a trastuzumab product. ONTRUZANT is available in both 150 mg single-dose vials and 420 mg multi-dose vials. Please see Boxed Warnings and Important Safety Information for ONTRUZANT below.

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"The launch of ONTRUZANT to deliver our first oncology biosimilar in the US marks an important milestone for Samsung Bioepis, and more importantly, for the patients who are in need of this proven treatment"

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The launch follows the approval from the US FDA in January 2019 for the 150 mg vial and in March 2020 for the 420 mg vial, based on Samsung Bioepis’ comprehensive data package, including analytical, nonclinical and clinical pharmacokinetic, safety and effectiveness data demonstrating that ONTRUZANT is highly similar to its reference product HERCEPTIN, and there are no clinically meaningful differences in terms of the safety, purity and potency of the product.i,ii,iii,iv,v,vi

"The launch of ONTRUZANT to deliver our first oncology biosimilar in the US marks an important milestone for Samsung Bioepis, and more importantly, for the patients who are in need of this proven treatment," said Christopher Ko, President and Chief Executive Officer, Samsung Bioepis. He continued, "While we understand that this is an unprecedented time for our hospitals and healthcare workers, we at Samsung Bioepis remain steadfastly committed to the patients we serve through our efforts to ensure the continued supply of our medicines through collaboration with our manufacturing and commercial partners."

ONTRUZANT will be introduced in the US at a list price (wholesaler acquisition cost) of approximately $1,325 for the 150 mg single-dose vial and $3,709 for the 420 mg multiple-dose vial (prices are rounded), representing a 15% discount to the current list price of HERCEPTIN. Wholesaler acquisition costs do not include discounts to payers, providers, distributors and other purchasing organizations.

ONTRUZANT will be marketed and distributed in the US by Merck (known as MSD outside the US and Canada), which announced on February 5, 2020, that it intends to spin-off certain products, amongst them ONTRUZANT and its biosimilars businesses, into a new, independent, publicly-traded company. Merck will continue to fully support the commercialization of ONTRUZANT until the spinoff, which is intended to take place in the first half of 2021, at which time ONTRUZANT will become a product of the new company.

Under terms of agreement, Samsung Bioepis is responsible for preclinical and clinical development, process development and manufacturing, clinical trials and regulatory registration while Merck is responsible for commercialization activities for products approved in its partnered territories, including the US.

1 HERCEPTIN is a registered trademark of Genentech Inc.

About ONTRUZANT (trastuzumab-dttb)
ONTRUZANT is indicated for adjuvant treatment of HER2-overexpressing node-positive or node-negative (ER/PR-negative or with one high-risk feature*) breast cancer:

As part of a treatment regimen containing doxorubicin, cyclophosphamide and either paclitaxel or docetaxel
As part of a treatment regimen with docetaxel and carboplatin
As a single agent following multi-modality anthracycline-based therapy
Select patients for therapy based on an FDA-approved companion diagnostic for a trastuzumab product.
* High-risk is defined as ER/PR positive with one of the following features: tumor size >2 cm, age <35 years, or tumor grade 2 or 3.

ONTRUZANT is indicated:

In combination with paclitaxel for the first line treatment of HER2-overexpressing metastatic breast cancer
As a single agent for treatment of HER2-overexpressing breast cancer in patients who have received one or more chemotherapy regimens for metastatic disease
Select patients for therapy based on an FDA-approved companion diagnostic for a trastuzumab product.
ONTRUZANT is indicated, in combination with cisplatin and capecitabine or 5-fluorouracil, for the treatment of patients with HER2 overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma, who have not received prior treatment for metastatic disease.
Select patients for therapy based on an FDA-approved companion diagnostic for a trastuzumab product.

Select Important Safety Information

Cardiomyopathy

Administration of ONTRUZANT can result in sub-clinical and clinical cardiac failure
Evaluate left ventricular function in all patients prior to and during treatment with ONTRUZANT. Discontinue ONTRUZANT treatment in patients receiving adjuvant therapy and withhold ONTRUZANT in patients with metastatic disease for clinically significant decrease in left ventricular function
Infusion Reactions; Pulmonary Toxicity

Administration of ONTRUZANT can result in serious and fatal infusion reactions and pulmonary toxicity. Symptoms usually occur during or within 24 hours of administration. Interrupt ONTRUZANT infusion for dyspnea or clinically significant hypotension. Monitor patients until symptoms completely resolve. Discontinue ONTRUZANT for anaphylaxis, angioedema, interstitial pneumonitis, or acute respiratory distress syndrome
Embryo-Fetal Toxicity

Exposure to ONTRUZANT during pregnancy can result in oligohydramnios and oligohydramnios sequence manifesting as pulmonary hypoplasia, skeletal abnormalities, and neonatal death. Advise patients of these risks and the need for effective contraception
Exacerbation of Chemotherapy-Induced Neutropenia

In randomized, controlled clinical trials, the per-patient incidences of NCI-CTC Grade 3-4 neutropenia and of febrile neutropenia were higher in patients receiving trastuzumab products in combination with myelosuppressive chemotherapy as compared to those who received chemotherapy alone. The incidence of septic death was similar among patients who received trastuzumab and those who did not
Most Common Adverse Reactions

The most common adverse reactions for trastuzumab products in breast cancer were fever, nausea, vomiting, infusion reactions, diarrhea, infections, increased cough, headache, fatigue, dyspnea, rash, neutropenia, anemia, and myalgia
The most common adverse reactions for trastuzumab products in metastatic gastric cancer were neutropenia, diarrhea, fatigue, anemia, stomatitis, weight loss, upper respiratory tract infections, fever, thrombocytopenia, mucosal inflammation, nasopharyngitis, and dysgeusia
These are not all of the risks associated with ONTRUZANT. For additional information on ONTRUZANT indications, as well as Important Safety Information related to its use, including Boxed WARNINGS, please see the ONTRUZANT Prescribing Information HERE

Xenetic Biosciences, Inc. to Present at the April 2020 Virtual Investor Summit

On April 15, 2020 Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing XCART, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, reported that Jeffrey Eisenberg, Chief Executive Officer of Xenetic, will present at the April 2020 Virtual Investor Summit on Wednesday, April 22nd, 2020 at 11:30 AM ET (Press release, Xenetic Biosciences, APR 15, 2020, View Source [SID1234556358]).

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A live audio webcast of the presentation will be available on the IR Calendar page of the Investors section of the Company’s website (xeneticbio.com). Immediately following the presentation, management will participate in an interactive Q&A session with interested parties, allowing participants to type in questions and receive live responses. A webcast replay will be available two hours following the live presentation and will be accessible for one year.

To schedule a one-on-one call with management, please contact the conference at [email protected] and for more information, please visit virtualinvestorsummit.com.

About Virtual Investor Summit

The Virtual Investor Summit is an online platform that offers both public and private companies, across multiple industries the ability to stay active and engaged with the investment community. Our inaugural summit on April 22-23, 2020 will feature company webcast presentations followed by a virtual, interactive Q&A session, allowing participants to type in questions and receive live responses. Interested participants also have the ability to request one-on-one calls with a featured company. For more information, please visit virtualinvestorsummit.com.

Celsion Reports that Sufficient Events Have Been Reached for the Second Interim Analysis of the Phase III OPTIMA Study of ThermoDox® in Primary Liver Cancer

On April 15, 2020 Celsion Corporation (NASDAQ: CLSN), an oncology drug-development company, reported that the prescribed minimum number of events of 158 patient deaths has been reached for the second pre-specified interim analysis of the OPTIMA Phase III Study with ThermoDox plus RFA (radiofrequency ablation) in patients with hepatocellular carcinoma (HCC), or primary liver cancer (Press release, Celsion, APR 15, 2020, View Source [SID1234556357]). Following preparation of the data, the Independent Data Monitoring Committee (iDMC) is expected to meet in July to conduct the second interim analysis. Celsion expects to announce iDMC recommendations as soon as possible after the meeting.

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The hazard ratio for success at 158 deaths is 0.70, which represents a 30% reduction in the risk of death compared with RFA alone. This compares favorably with the hazard ratio of 0.65 observed in the prospective HEAT Study subgroup upon which the OPTIMA Study is based.

Michael Tardugno, Celsion’s chairman, president and chief executive officer, said, "We look forward to receiving the iDMC’s recommendation from this data analysis, and are quite optimistic for a positive outcome. Regardless, we believe that the OPTIMA Study is ultimately well-positioned for success. If a final analysis is necessary, it will be based on 197 patient deaths where the hazard ratio for success of 0.75 represents a significantly lower hurdle than the hazard ratio that was observed in the prospective HEAT Study subgroup. We base our confidence on published pre-clinical data supporting the OPTIMA Study, the National Institutes of Health’s independent analysis of and support for the Study’s hypothesis, and the OPTIMA Study’s current timeline for disease progression and patient death, both tracking in line with the prospective HEAT Study subgroup. The prospective subgroup demonstrated a remarkable 7 ½ years plus survival when treated with ThermoDox plus RFA. A successful study has "blockbuster" revenue potential and more importantly, will be transformational for patients with HCC, with over 750,000 incidence annually, the largest unmet need in oncology."

The OPTIMA Study was fully enrolled in August 2018 with 556 subjects from 65 clinical sites in 14 countries. The design of the OPTIMA Study is based on the Company’s HEAT Study, in which a prospective subgroup analysis of 285 subjects received a single ThermoDox administration in combination with a 45 minute or longer RFA procedure in patients with a single lesion of 3-7 cm in size. Followed prospectively for 3 years, those patients treated with ThermoDox demonstrated a median survival of more than 7 ½ years and a survival benefit of more than 2 years over the control group. These data were published in the October 2017 issue of the peer-reviewed journal Clinical Cancer Research, and are available here.

In November 2019, Celsion announced the iDMC evaluation of the safety and data integrity for all 556 patients enrolled in the OPTIMA Study in its first pre-planned interim analysis following 128 events, which occurred in August 2019. During that review the iDMC unanimously recommended that the OPTIMA Study continue as planned. That data review demonstrated:

The OPTIMA Study patient demographics and risk factors are consistent with what the Company observed in the HEAT Study subgroup with all data quality metrics meeting expectations.
Median PFS for the OPTIMA Study reached 17 months as of August 2019. These blinded data compare favorably with 16 months median PFS for the 285 patients in the HEAT Study subgroup of patients treated with RFA >45 minutes and followed prospectively for overall survival.
Median OS for the OPTIMA Study had not been reached as of August 5, 2019; however, median OS appears to be consistent with the HEAT Study subgroup of patients treated with RFA >45 minutes and followed prospectively for overall survival.
About the OPTIMA Study

The Phase III OPTIMA Study enrolled 556 patients at 65 clinical sites in North America, Europe, China and Asia Pacific. The Study is evaluating ThermoDox in combination with optimized RFA, which will be standardized to a minimum of 45 minutes across all investigators and clinical sites for treating lesions 3-7 cm in size, versus optimized RFA alone. The primary endpoint for the trial is Overall Survival, which is supported by post-hoc analyses of data from the Company’s 701-patient HEAT Study, where optimized RFA demonstrated the potential to significantly improve survival when combined with ThermoDox. The statistical plan calls for two interim efficacy analyses by an independent Data Monitoring Committee.

About ThermoDox

Celsion’s most advanced program is a heat-mediated drug delivery technology that employs a novel heat-sensitive liposome engineered to address a range of difficult-to-treat cancers. The first application of this platform is ThermoDox, a lyso-thermosensitive liposomal doxorubicin (LTLD) whose novel mechanism of action delivers high concentrations of doxorubicin to a region targeted with the application of localized heat at 40°C, just above body temperature. ThermoDox is positioned for use with multiple heating technologies and has the potential to treat of a broad range of cancers including metastatic liver, recurrent chest wall breast cancer and non-muscle invading bladder cancers.

Celsion’s LTLD technology leverages two mechanisms of tumor biology to deliver higher concentrations of drug directly to the tumor site. In the first mechanism, rapidly growing tumors have leaky vasculature, which is permeable to liposomes and enables their accumulation within tumors. Leaky vasculature influences a number of factors within the tumor, including the access of therapeutic agents to tumor cells. Administered intravenously, ThermoDox is engineered with a half-life to allow significant accumulation of liposomes at the tumor site as these liposomes recirculate in the blood stream.

In the second mechanism, when an external heating device heats tumor tissue to a temperature of 40°C or greater, the heat-sensitive liposome rapidly changes structure and the liposomal membrane selectively dissolves, creating openings that can release a chemotherapeutic agent directly into the tumor and the surrounding vasculature. Drug concentration increases as a function of the accumulation of liposomes at the tumor site, but only where the heat is present. This method damages only the tumor and the area subject to tumor invasion, supporting more precise drug targeting.