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XOMA Announces Closing of Rights Offering

On December 20, 2019 XOMA Corporation (Nasdaq: XOMA) ("XOMA" or the "Company") reported the closing of its previously announced rights offering (the "Rights Offering") (Press release, Xoma, DEC 20, 2019, View Source [SID1234552564]). At the closing, XOMA sold and issued an aggregate of 626,805 shares of its common stock (the "Common Stock") pursuant to the exercise of subscriptions in the Rights Offering from its existing stockholders. In addition, BVF Partners L.P., a stockholder of the Company, purchased an additional 373,195 shares of Common Stock pursuant to the exercise of its oversubscription rights. Combined, the Company sold and issued an aggregate of 1,000,000 shares of Common Stock for aggregate gross proceeds of $22 million.

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The Rights Offering was made pursuant to the Company’s effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC") and a prospectus supplement and accompanying prospectus filed with the SEC on December 2, 2019.

Regeneron Announces Presentation at the 38th Annual J.P. Morgan Healthcare Conference

On December 20, 2019 Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) reported will webcast its presentation at the 38th Annual J.P. Morgan Healthcare Conference on Monday, January 13, 2020 (Press release, Regeneron, DEC 20, 2019, View Source [SID1234552562]). The presentation is scheduled for 10:30 a.m. Pacific Time (1:30 p.m. Eastern Time) and may be accessed from the "Investors & Media" page of Regeneron’s website at View Source A breakout session will immediately follow the formal presentation and can also be accessed from our website. An archived version of the presentation and the breakout session will be available for at least 30 days.

Following the announcement regarding the Intent to Restructure the Antibody Collaboration for Kevzara (sarilumab) and Praluent (alirocumab) with Sanofi, Regeneron will provide financial guidance for 2020 at a date subsequent to the J.P. Morgan Healthcare Conference.

Heska Corporation to Present at the 38th Annual J.P. Morgan Healthcare Conference

On December 20, 2019 Heska Corporation (NASDAQ: HSKA – News; "Heska" or the "Company"), a provider of advanced veterinary diagnostic and specialty products, reported that Kevin Wilson, Heska’s President & Chief Executive Officer, will present at the 38th Annual J.P. Morgan Healthcare Conference on Wednesday, January 15, 2020 at 3 p.m. PT in San Francisco, CA (Press release, Heska, DEC 20, 2019, View Source [SID1234552561]).

Management will be available for one-on-one meetings on January 15th and 16th. To schedule a meeting, please contact J.P. Morgan at 1×[email protected] or Heska Investor Relations at [email protected].

A live webcast of the company’s presentation can be accessed at View Source and a live webcast of the subsequent question and answer session can be accessed at View Source.

The webcast will be archived shortly after the event, and a replay will be available on the company’s website for 90 days following the conference. A copy of the presentation will be available on Heska’s website at View Source

Johnson & Johnson Acquires TARIS Biomedical with Focus on Transforming the Treatment of Bladder Cancer

On December 20, 2019 Johnson & Johnson reported the acquisition of TARIS Biomedical LLC (TARIS), a privately-owned biotechnology company specializing in the development of a novel drug delivery technology for the treatment of bladder diseases including cancer (Press release, Johnson & Johnson, DEC 20, 2019, View Source;johnson-acquires-taris-biomedical-with-focus-on-transforming-the-treatment-of-bladder-cancer-300978469.html [SID1234552560]). The company’s lead clinical-stage product, TAR-200, uses the proprietary TARIS System, which features a silicone-based drug delivery device that allows for the continuous release of medication into the bladder. Financial terms of the transaction are not being disclosed.

"The TARIS technology provides a first-in-class clinical stage platform to evaluate novel, locally-delivered therapeutics for patients with localized bladder cancer," said Peter Lebowitz, M.D., Ph.D., Global Therapeutic Area Head, Oncology, Janssen Research & Development, LLC. "Together with the TARIS team, we look forward to advancing complete regimens to push towards early interception of bladder cancer with the goal of improving outcomes for patients and, ultimately, delivering cures."

Localized bladder cancer is a global unmet need as reflected by high morbidity and limited improvements in treatment over the past two decades. Globally, bladder cancer is the sixth most commonly occurring cancer in men and the 17th most commonly occurring cancer in women.1 There were almost 550,000 new cases of bladder cancer diagnosed worldwide in 2018.1 The majority of bladder cancers are diagnosed in the early stages with approximately 70 to 75 percent as non-muscle invasive bladder cancer and 25 to 30 percent as muscle invasive bladder cancer.2,3 Progression of the disease is a devastating life-changing event that can result in removal of the bladder in patients fit for surgery.4 Following surgery, and for a large proportion of patients who are unfit for such a procedure, the cancer often progresses into metastatic disease where the five-year survival rate is approximately five percent.5 Considering the global impact and need for new, targeted therapies, Janssen is building upon its innovative efforts and disease expertise to advance novel, locally-delivered therapeutic approaches with a strategy to intercept bladder cancer.

"The TARIS technology and scientific team create an unparalleled convergence opportunity with real potential to deliver differentiated, targeted therapeutics for the treatment of patients with localized bladder cancer," said Mathai Mammen, M.D., Ph.D., Global Head, Janssen R&D, Johnson & Johnson. "We are eager to build upon the proof-of-concept data that the TARIS team has generated and advance clinical development of this drug delivery approach for patients who face a bladder cancer diagnosis, and potentially for other types of cancer in the future."

TARIS will maintain a research presence in Lexington, Massachusetts and become part of Janssen R&D’s Oncology Therapeutic Area. The team will remain focused on the optimization of drug candidates working together with Janssen R&D scientists to advance and deliver future clinical programs applying the TARIS technology, which arose from research conducted at MIT’s Koch Institute for Integrative Cancer Research.

Savara Announces Private Placement of $26.8 Million, With Total Potential Proceeds of $75.0 Million

On December 20, 2019 Savara Inc. (Nasdaq: SVRA), an orphan lung disease company, reported that it has entered into a definitive agreement for a private placement with institutional investors to purchase an aggregate of 9,569,430 shares of common stock and, in lieu of shares of common stock, pre-funded warrants to purchase an aggregate of 5,780,537 shares of common stock, and accompanying warrants (the "Milestone Warrants") to purchase an aggregate of up to 32,577,209 additional shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) at a price of $1.745 per share and accompanying Milestone Warrant (or $1.744 per pre-funded warrant and accompanying Milestone Warrant) (Press release, Savara, DEC 20, 2019, View Source [SID1234552559]). The price per pre-funded warrant and accompanying Milestone Warrant represents the price of $1.745 per share and accompanying Milestone Warrant to be sold in the private placement, minus the $0.001 per share exercise price of each such pre-funded warrant. The exercise price of the Milestone Warrants is $1.48 per share, or if exercised for a pre-funded warrant in lieu thereof, $1.479 per pre-funded warrant (representing the Milestone Warrant exercise price of $1.48 per share minus the $0.001 per share exercise price of each such pre-funded warrant). The Milestone Warrants are exercisable at any time prior to the earlier of 30 days following the achievement of a defined clinical milestone or two years after the closing date of the private placement. The gross proceeds from the sales of common stock and pre-funded warrants are expected to be $26.8 million, before deducting placement agent fees and estimated offering expenses payable by Savara. If the Milestone Warrants are exercised in full, Savara would receive additional gross proceeds of $48.2 million, resulting in total transaction gross proceeds of $75.0 million, in each case before deducting placement agent fees and estimated offering expenses payable by Savara. The private placement, led by Bain Capital Life Sciences, with participation by certain existing and new investors, including EcoR1 Capital LLC and Logos Capital, is expected to close on December 24, 2019, subject to customary closing conditions. In connection with the closing, Ricky Sun, Ph.D. of Bain Capital Life Sciences is expected to join the Savara board of directors.

Net proceeds from the transaction are expected to be used to fund a new clinical trial of Molgradex for the treatment of autoimmune pulmonary alveolar proteinosis (aPAP) and for other general corporate purposes.

Jefferies and Evercore ISI are acting as placement agents to the Company in connection with the private placement.

The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the shares of common stock sold in the private placement and the shares of common stock issuable upon exercise of the pre-funded warrants and Milestone Warrants no later than 120 days after the closing of the private placement. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.

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 offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.