Publication Highlights Regeneron’s Costimulatory Bispecific Antibodies, an Emerging Class of Cancer Immunotherapy

On January 8, 2020 Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) reported a publication featured on the cover of Science Translational Medicine describing the potential of a new class of cancer immunotherapy known as "costimulatory bispecific antibodies (Press release, Regeneron, JAN 8, 2020, View Source [SID1234552874])." Regeneron and others have previously shown that CD3 bispecifics can result in meaningful clinical responses in previously untreatable cancer settings. The results published today show that adding a novel class of CD28 costimulatory bispecifics to Regeneron’s CD3 bispecifics can lead to synergistic anti-tumor activity in multiple cell culture and animal model experiments, without inducing systemic cytokine release (cytokine storm).

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"This novel class of CD28 costimulatory bispecifics are key to our strategy of developing a broad oncology portfolio – based on rational combinations to efficiently engage the immune system – to address a broad range of cancers, including those that are not responsive to currently available immunotherapy," said George D. Yancopoulos, M.D., Ph.D., Co-Founder, President and Chief Scientific Officer at Regeneron. "We have dosed prostate cancer patients with our first CD28 costimulatory bispecific, REGN5678, in combination with Libtayo (cemiplimab), and we plan to advance additional CD28 costimulatory bispecifics into the clinic for other cancers this year, including in combinations with CD3 bispecifics."

The rationale for combining CD3 and CD28 bispecific antibodies is based on the fact that T-cells require two signals to fully activate. The first "recognition" signal occurs when the T-cell identifies a foreign or mutated protein (antigen), via its T-cell receptor/CD3 complex. However, the T-cell is only fully activated for cancer cell killing after it receives a second "costimulatory" signal, most powerfully via the CD28 costimulatory receptor. Regeneron’s CD3 and CD28 investigational bispecifics are designed to bridge T-cells to cancer cells and simultaneously provide activation through these two signals. The publication demonstrates that this combination approach can drive markedly enhanced T-cell killing of prostate and ovarian tumors in sophisticated genetically-humanized animal models.

"Cancer researchers have long known that CD28-targeted therapies have the ability to supercharge T-cells against cancer, but little progress was made in harnessing this powerful opportunity given historic safety findings with CD28 superagonists. Our goal was to engage the CD28 pathway in a completely novel and targeted way to avoid the issues with generalized CD28 activation," said Dimitris Skokos, Ph.D., Senior Director, Cancer Immunology Research at Regeneron. "Costimulatory bispecifics offered an innovative solution that allowed us to design antibodies with molecular controls to use CD28 to boost T-cell activation only in the presence of cancer cells and after the ‘recognition’ signal had been received. To see this design work preclinically is gratifying, and we are excited to see if these results will translate in human clinical trials."

CD28 superagonists were investigational CD28-targeted monoclonal antibodies. In a Phase 1 trial conducted in 2006 by another company, a CD28 superagonist overactivated T-cells throughout the bodies of healthy volunteers. This caused life-threatening levels of cytokine release syndrome (known as cytokine storm), leading to multiple organ failure. As a result, clinical research into CD28-based treatments was largely stopped.

This led Regeneron to carefully select CD28 costimulatory bispecific antibody candidates that would only activate T-cells when they were bridged to cancer cells and after having received the first "recognition" signal. Regeneron also tested the safety of its CD28 costimulatory bispecifics in several animal models and showed they did not induce cytokine storm when administered as monotherapy or in combination. These findings support the further investigation of CD28 costimulatory bispecifics in combination with other treatments.

"Checkpoint inhibitors and CAR-T cell therapy have transformed cancer treatment over the past decade, but many patients still don’t respond to these immunotherapies. That’s why it’s exciting to see Regeneron’s CD28 costimulatory bispecifics emerge as promising future off-the-shelf solutions," said Jill O’Donnell-Tormey, Ph.D., Chief Executive Officer and Director of Scientific Affairs at the Cancer Research Institute. "The data published in Science Translational Medicine show that Regeneron is helping to expand the boundaries of what may be possible with immunotherapy."

Among the investigational medicines studied in the paper were two CD28 costimulatory bispecifics (PSMAxCD28 and MUC16xCD28) and two CD3 bispecifics (CD20xCD3 and MUC16xCD3).

About the Regeneron Bispecific Antibody Platform
All of Regeneron’s bispecifics are designed to closely resemble natural human antibodies and bind to two different targets. They are derived from a next-generation version of Regeneron’s proprietary VelocImmune technology and created using the company’s Veloci-Bi platform. These allow for the creation of bispecifics with no linkers or artificial sequences. Additionally, Regeneron bispecifics are manufactured using similar approaches used for human antibody medicines, with similar pharmacokinetics.

There are six Regeneron investigational bispecific antibodies currently in ongoing clinical trials for multiple blood cancers and solid tumors. These bispecifics fall into three categories:

CD3 bispecifics are designed to bridge T-cells and tumor cells. At the tumor site, they activate T-cells via their CD3 receptors and promote T-cell killing of the cancer cells. Investigational candidates include:
CD20xCD3 (REGN1979) for non-Hodgkin B-cell lymphomas;
Two distinct BCMAxCD3s (REGN5458 and REGN5459) for multiple myeloma;
MUC16xCD3 (REGN4018) for ovarian cancer.
CD28 costimulatory bispecifics are also designed to bridge T-cells and tumor cells. At the tumor site, they costimulate T-cells via their CD28 receptors and may synergize with PD-1 inhibitors and/or CD3 bispecifics. Investigational candidates include:
PSMAxCD28 (REGN5678) in combination with Libtayo for prostate cancer.
Tumor-targeted bispecifics are designed to target proteins only on the cancer cell. In this way, they may affect various signaling pathways to hamper the cancer cells’ ability to survive and proliferate. Investigational candidates include:
METxMET (REGN5093) for non-small cell lung cancer that is driven by MET mutations and/or amplifications. REGN5093 targets two different parts of the MET receptor on cancer cells to degrade the receptor and block its ability to trigger cell proliferation.
Regulatory Status of Oncology Programs
The bispecifics mentioned in this release are currently under clinical development, and their safety and efficacy have not been evaluated by any regulatory authority.

Libtayo in combination with REGN5678 is currently under clinical development for prostate cancer, and its safety and efficacy have not been evaluated by any regulatory authority for this use. Libtayo is currently approved in the U.S. for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation, and in other countries for similar indications. In the U.S., the generic name for Libtayo is cemiplimab-rwlc, with rwlc as the suffix designated in accordance with Nonproprietary Naming of Biological Products Guidance for Industry issued by the U.S. Food and Drug Administration.

As part of a global collaboration agreement, Regeneron and Sanofi are jointly developing Libtayo, as well as Regeneron’s BCMAxCD3 and MUC16xCD3 bispecific programs.

Alkermes’ Corporate Presentation to be Webcast at the 38th Annual J.P. Morgan Healthcare Conference

On January 8, 2020 Alkermes plc (Nasdaq: ALKS) reported that its corporate presentation will be webcast live at the 38th Annual J.P. Morgan Healthcare Conference on Wednesday, Jan. 15, 2020 at 9:00 a.m. PT (12:00 p.m. ET/5:00 p.m. GMT) from the Westin St. Francis Hotel in San Francisco (Press release, Alkermes, JAN 8, 2020, View Source [SID1234552873]). The presentation will be followed by a question and answer session that will begin at 9:30 a.m. PT (12:30 p.m. ET/5:30 p.m. GMT).The presentation may be accessed under the Investors tab on www.alkermes.com and will be archived for 14 days.

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Mirati Therapeutics Announces Proposed Public Offering of Common Stock

On January 8, 2020 Mirati Therapeutics, Inc. (Nasdaq: MRTX) reported that it intends to offer and sell, subject to market and other conditions, $250.0 million of shares of its common stock in an underwritten public offering (Press release, Mirati, JAN 8, 2020, View Source [SID1234552872]). All of the shares are being offered by Mirati. In addition, Mirati expects to grant the underwriters of the offering a 30-day option to purchase up to an additional $37.5 million of shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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Goldman Sachs & Co. LLC, SVB Leerink and Cowen and Company, LLC are acting as joint book-running managers in the offering.

The securities described above are being offered by Mirati pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at View Source Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; or from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6132, or by email at [email protected]; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by telephone at (631) 592-5973 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Centene Corporation Announces Extension of Exchange Offers and Consent Solicitations for WellCare Notes

On January 8, 2020 Centene Corporation (NYSE:CNC) ("Centene") reported the extension of the expiration date of the offers to exchange (the "Exchange Offers") notes (the "WellCare Notes") issued by WellCare Health Plans, Inc. (NYSE:WCG) ("WellCare") for up to $1,950,000,000 aggregate principal amount of new notes to be issued by Centene (the "Centene Notes") and cash and the related consent solicitations (the "Consent Solicitations") being made by Centene on behalf of WellCare to adopt certain proposed amendments (the "Amendments") to the indentures governing the WellCare Notes (Press release, Centene , JAN 8, 2020, View Source [SID1234552871]). Centene hereby extends such expiration date from 5:00 p.m., New York City time, on January 8, 2020, to 5:00 p.m., New York City time, on January 14, 2020 (as the same may be further extended, the "Expiration Date").

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On November 14, 2019, requisite consents were received and supplemental indentures were executed, eliminating substantially all restrictive covenants and certain events of default and other provisions in each of the indentures governing the WellCare Notes. Such supplemental indentures will only become operative upon the settlement date of the Exchange Offers.

The Exchange Offers and Consent Solicitations are being made pursuant to the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement dated November 1, 2019, as amended on November 12, 2019 and the related letter of transmittal and consent hereby, each as amended by the press releases dated December 2, 2019 and December 18, 2019 and as amended hereby, and are conditioned upon the closing of Centene’s acquisition of WellCare (the "Merger"), which condition may not be waived by Centene, and certain other conditions that may be waived by Centene.

The settlement date for the Exchange Offers is expected to occur promptly after the Expiration Date and immediately prior to the closing of the Merger, which is expected to occur by the first half of 2020. As a result, the Expiration Date may be further extended one or more times. Centene will provide notice of any such extension in advance of the Expiration Date.

Except as described in this press release, all other terms of the Exchange Offers and Consent Solicitations remain unchanged.

As of 5:00 p.m., New York City time, on January 8, 2020, the principal amounts of WellCare Notes set forth in the table below had been validly tendered and not validly withdrawn:

Documents relating to the Exchange Offers and Consent Solicitations will only be distributed to eligible holders of WellCare Notes who complete and return an eligibility form confirming that they are either a "qualified institutional buyer" under Rule 144A or not a "U.S. person" and outside the United States under Regulation S for purposes of applicable securities laws. Except as amended by the press releases dated December 2, 2019 and December 18, 2019 and as amended hereby, the complete terms and conditions of the Exchange Offers and Consent Solicitations are described in the confidential offering memorandum and consent solicitation statement dated November 1, 2019 as amended on November 12, 2019 and the related letter of transmittal and consent, copies of which may be obtained by contacting Global Bondholder Services Corporation, the exchange agent and information agent in connection with the Exchange Offers and Consent Solicitations, at (866) 470-4200 (U.S. toll-free) or (212) 430-3774 (banks and brokers). The eligibility form is available electronically at: View Source

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Exchange Offers and Consent Solicitations are being made solely pursuant to the offering memorandum and consent solicitation statement dated November 1, 2019, as amended on November 12, 2019 and as amended by the press releases dated December 2, 2019 and December 18, 2019 and as amended hereby and the related letter of transmittal and consent, and only to such persons and in such jurisdictions as are permitted under applicable law.

The Centene Notes offered in the Exchange Offers have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Therefore, the Centene Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933, as amended, and any applicable state securities laws.

Veracyte Announces Biopharmaceutical Collaboration with Acerta Pharma

On January 8, 2020 Veracyte (Nasdaq: VCYT) reported a multi-year partnership with Acerta Pharma, the hematology research and development arm of AstraZeneca (LSE/STO/NYSE: AZN), to provide genomic information that will support the biopharmaceutical company’s development of oncology therapeutics (Press release, Veracyte, JAN 8, 2020, View Source [SID1234552870]). Financial and other terms of the collaboration were not disclosed.

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"We are excited to partner with Acerta Pharma and AstraZeneca, global leaders whose innovative medicines are benefitting millions of patients worldwide"

The agreement marks Veracyte’s first biopharmaceutical partnership since the company announced its acquisition of the exclusive diagnostics rights to the NanoString nCounter platform and genomic tests in breast cancer and lymphoma on December 3, 2019. That transaction positions Veracyte to expand globally using a distributed platform and comprehensive menu of advanced genomic tests.

"We are excited to partner with Acerta Pharma and AstraZeneca, global leaders whose innovative medicines are benefitting millions of patients worldwide," said Bonnie H. Anderson, Veracyte’s chairman and chief executive officer. "This collaboration reflects the significant value we can bring to biopharmaceutical companies through our expanding global footprint, as well as our ability to potentially inform diagnosis and treatment decisions in new oncology indications."