Lilly to Participate in Guggenheim Healthcare Talks Idea Forum

On February 7, 2020 Eli Lilly and Company (NYSE: LLY) reported that it will participate in the Guggenheim Healthcare Talks Idea Forum on Thursday, February 13, 2020 (Press release, Eli Lilly, FEB 7, 2020, View Source [SID1234554032]). Jacob Van Naarden, chief operating officer for Loxo Oncology at Lilly; Eric Dozier, vice president, Lilly Oncology North America; and Maura Dickler, M.D., vice president, oncology late phase development, will participate in a fireside chat at 1:00 p.m., Eastern Time.

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A live audio webcast will be available on the "Webcasts & Presentations" section of Lilly’s Investor website at View Source A replay of the presentation will be available on this same website for approximately 90 days.

CytomX Therapeutics Announces New Employment Inducement Grant

On February 7, 2020 CytomX Therapeutics, Inc. (NASDAQ:CTMX), a clinical-stage oncology-focused biopharmaceutical company pioneering a novel class of investigational antibody therapeutics based on its Probody therapeutic technology platform, reported that on February 3, 2020, the Company granted its recently appointed senior vice president and chief medical officer, Alison L. Hannah, M.D., an option to purchase 250,000 shares of the Company’s common stock at an exercise price per share equal to $7.71, which was the closing trading price on February 3, 2020, the date of the grant (Press release, CytomX Therapeutics, FEB 7, 2020, View Source [SID1234554031]). The Company also granted Dr. Hannah a performance option to purchase 50,000 shares of the Company’s common stock at an exercise price per share equal to $7.71. The performance option vests upon the accomplishment of certain clinical trial related goals established by the Company.

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The stock options were granted pursuant to the Company’s 2019 Employment Inducement Incentive Plan, which was approved by the Company’s board of directors in February 2020 under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.

Junshi Bio Invests $1.4 Million in Stemirna, a Company Making RNA Cancer Vaccines

On February 7, 2020 Shanghai Junshi Bio reported that invested $1.4 million in Stemirna Therapeutics, a Shanghai company developing mRNA vaccine therapeutics for cancer (Press release, Shanghai Junshi Bioscience, FEB 7, 2020, View Source [SID1234554030]). Junshi, which made the investment as part of an A+ round, acquired an 3% stake in Stemirna. The two companies will jointly develop novel drugs and combination therapies Formed in 2016, Stemirna identifies tumor-specific antigens, loading them onto a single mRNA strand. Junshi, which has 13 molecules in development, was the first China company approved to market a PD-1 candidate in China, Tuoyi.

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First Proof CRISPR Can Be Safe in Cancer Therapy

On February 7, 2020 Researchers with the Abramson Cancer Center of the University of Pennsylvania, led by Carl June, reported that results from the first U.S. Phase I trial of CRISPR-Cas9-edited T-cells in humans with advanced cancer. The data was published in the journal Science (Press release, University of Pennsylvania, FEB 7, 2020, View Source [SID1234554028]).

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The trial involved three patients with refractory cancer, two women and one man, all in their 60s. One of the patients had sarcoma and two had multiple myeloma. The approach was similar to that seen in CAR-T therapy, where the patient’s own T-cells are recovered, engineered to express a specific receptor that can detect and kill cancer cells, then reinfused into the patient.

In the case of this trial, instead of engineering the T-cells with a receptor to a protein like CD19, they used CRISPR to remove three genes from the T-cells. Two edits removed the T-cell’s natural receptors, which could then be reprogrammed to express a synthetic T-cell receptor called NY-ESO-1. The third edit eliminated PD-1, a checkpoint receptor that allows cancer cells to hide from T-cells.

The researchers are presenting the data as a positive because it appears to be safe. June told Genetic Engineering & Biotechnology News, "CRISPR technology has proven safe in patients with advanced refractory and metastatic cancer. Our results demonstrate the ability to precisely edit the DNA code at three different genes."

In an accompanying article, Jennifer Hamilton and CRISPR pioneer Jennifer Doudna wrote, "These findings provide a guide for the safe production and non-immunogenic administration of gene-edited somatic cells. The clinically validated long-term safety of CRISPR-Cas9 gene-edited cells reported [here] paves the way for next-generation cell-based therapies."

Before getting overly excited about this, it was also reported that one of the patients has since died and the disease became worse in the other two. June indicated the goal of the study wasn’t to cure cancer, but to show that the CRISPR technique was feasible and safe.

With that goal in mind, it’s safe to say the trial was a success.

"This is a Rubicon that has been decisively crossed," said Fyodor Urnov, a genome editor at the University of California (UC), Berkeley, in a Science article. He noted the trial was the first of its kind in the U.S. and answered "questions that have frankly haunted the field."

The research also suggests what the limitations of the approach are, at least currently.

One of the big concerns in using CRISPR is off-target edits. CRISPR is generally pretty precise, but the human genome is quite larger and even a target of 20 or so specific nucleotides in a gene might be duplicated elsewhere, which could have unintended effects. And, studies of the three patients in the study confirmed that CRISPR had resulted in some off-target edits. There weren’t many and the number of cells affected decreased over time.

There have also been questions on how long gene edits last. In theory, they should last indefinitely, but some research has suggested the body tries to fix the edits and return them to their original state. However, this study showed the CRISPR-edited cells continued at least nine months, which is significant compared to about two months in similar CAR-T therapeutic studies.

So this study, which is significant, is more of a starting point for CRISPR-based therapies, particularly given the modest clinical response.

"It wasn’t like you turned off those genes and those T-cells started doing things that were amazing," Antoni Ribas, a UC Los Angeles oncologist told Science. But it was "a needed start" and going forward, "It’s going to be easier—because they did it first."

Adaptimmune Therapeutics plc Announces Full Exercise and Closing of Underwriters’ Option to Purchase Additional American Depositary Shares

On February 7, 2020 Adaptimmune Therapeutics plc ("Adaptimmune") (Nasdaq: ADAP), a leader in T-cell therapy to treat cancer, reported that the underwriters of its previously announced public offering of 21,000,000 American Depositary Shares ("ADSs"), which initially closed on January 24, 2020, have exercised in full their option to purchase an additional 3,150,000 of its ADSs at a price to the public of $4.00 per ADS, raising additional net proceeds of approximately $11.7 million, after deducting underwriting discounts and commissions and estimated offering expenses (Press release, Adaptimmune, FEB 7, 2020, View Source [SID1234554027]). The option exercise closed on February 7, 2020.

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After giving effect to the option exercise, Adaptimmune sold a total of 24,150,000 ADSs in connection with the offering, generating net proceeds of approximately $89.8 million, after deducting the underwriting discount and other offering expenses payable by Adaptimmune. Adaptimmune intends to use the net proceeds from this offering to advance the development of its immunotherapies into and through clinical trials as well as for other general corporate purposes.

Cowen acted as sole book-running manager for the offering and Roth Capital Partners acted as co-manager for the offering.

A shelf registration statement on Form S-3 relating to the public offering of the ADSs described above was declared effective by the Securities and Exchange Commission ("SEC") on September 10, 2019. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to these securities may also be obtained by sending a request to: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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In any EEA Member State, this communication is only addressed to and directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. The term "Prospectus Regulation" means Regulation (EU) 2017/1129.

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This communication, in so far as it constitutes an invitation or inducement to enter into investment activity (within the meaning of s21 Financial Services and Markets Act 2000 as amended) in connection with the securities which are the subject of the offering described in this press release or otherwise, is being directed only at (i) persons who are outside the United Kingdom; (ii) persons who have professional experience in matters relating to investments who fall within Article 19(5) (Investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (iii) certain high net worth companies and persons who fall within Article 49(2)(a) to (d) (High net worth companies, unincorporated associations etc) of the Order; and/or (iv) any other person to whom it may lawfully be communicated (all such persons in (i) to (iv) together being referred to as "relevant persons"). The ADSs are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such ADSs will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.