Peptomyc wins funding from the SME Instrument Phase II

On July 30, 2019 Peptomyc reported that amounting to 2.2 million euros over 2 years, this latest funding from the EU Horizon 2020 Research and Innovation programme is a huge step toward clinical trials, due to start in 2020 (Press release, Peptomyc, JUL 30, 2019, View Source [SID1234555337]). The grant will help with regulatory safety studies and activities of Peptomyc’s first product, OMO-103, including its clinical batch production, and the design, recruitment of patients and performance of Phase I/IIa clinical trials.

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Peptomyc and the laboratory of Dr. Soucek previously received an ERC Consolidator Grant and 2 separate Proof-of-Concept grants from the Horizon 2020 programme, and also an SME Instrument Phase I. These have all contributed significantly to bringing OMO-103 to its current level of development.

European Commission Grants Orphan Drug Designation for SpringWorks Therapeutics’
MEK Inhibitor, Mirdametinib, for the Treatment of Neurofibromatosis Type 1

On July 30, 2019 SpringWorks Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, reported that the European Commission has granted Orphan Drug Designation for mirdametinib (formerly PD-0325901), an oral, small molecule inhibitor of MEK1 and MEK2, for the treatment of neurofibromatosis type 1 (NF1) (Press release, SpringWorks Therapeutics, JUL 30, 2019, View Source [SID1234538849]).

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NF1 is a rare genetic disorder characterized by mutations in the MAPK pathway. Throughout their lifetime, up to half of NF1 patients progress to develop plexiform neurofibromas, which are peripheral nerve sheath tumors that cause significant pain, disfigurement and morbidity. NF1-associated plexiform neurofibromas (NF1-PN) are most often diagnosed in the first two decades of life and are characterized by aggressive tumor growth, which is typically more rapid during childhood.1-3 There are currently no therapies approved for the treatment of NF1-PN.

"This orphan designation in the European Union is another important recognition of the significant need for an effective treatment for patients with NF1, and follows the orphan drug and fast-track designations already granted for mirdametinib in the U.S. by the FDA," said Saqib Islam, Chief Executive Officer of SpringWorks. "We expect to initiate our Phase 2b trial of mirdametinib in children and adults with NF1-PN this quarter and look forward to working closely with regulatory authorities throughout our development program."

The European Commission grants orphan medicinal status for products intended for the treatment, prevention or diagnosis of life-threatening or very serious conditions that affect no more than 5 in 10,000 people in the European Union, and where the product represents a significant benefit over existing treatments. Orphan designation provides companies with certain benefits and incentives in the EU, including a 10-year period of market exclusivity after product approval, reduced regulatory fees and protocol assistance.4

Mirdametinib previously received Orphan Drug Designation from the FDA for the treatment of neurofibromatosis type 1 and Fast Track Designation from the FDA for the treatment of patients ≥ 2 years of age with neurofibromatosis type 1-associated inoperable plexiform neurofibromas that are progressing or causing significant morbidity. SpringWorks expects to initiate the ReNeu trial, a Phase 2b open-label, single-arm trial with mirdametinib that will enroll both pediatric and adult NF1-PN patients, in the third quarter of 2019.

About Neurofibromatosis Type 1

Neurofibromatosis type 1 (NF1) is a rare genetic disorder that arises from mutations in the NF1 gene, which encodes for neurofibromin, a key suppressor of the MAPK pathway. NF1 is the most common form of neurofibromatosis, with an estimated global birth incidence of approximately 1 in 3,000 individuals.2,3 The clinical course of NF1 is heterogeneous and manifests in a variety of symptoms across numerous organ systems, including abnormal pigmentation, skeletal deformities, tumor growth and neurological complications, such as cognitive impairment. Patients with NF1 have an eight to 15-year mean reduction in their life expectancy compared to the general population.5 NF1 patients have an approximately 30% to 50% lifetime risk of developing plexiform neurofibromas, or PN, which are tumors that grow in an infiltrative pattern along the peripheral nerve sheath and that can cause severe disfigurement, pain and functional impairment; in rare cases, NF1-PN may be fatal.2,3 NF1-PN are most often diagnosed in the first two decades of life. These tumors are characterized by aggressive growth, which is typically more rapid during childhood.1,2,5 The only definitive treatment for NF1-PN is surgical removal of the tumors, however, because NF1-PN arise from nerve cells and grow in an infiltrative pattern, it is challenging to successfully resect tumors without severe comorbidities, such as permanent nerve damage and disfigurement. 6 There are no therapies currently approved for the treatment of NF1-PN.

About Mirdametinib

Mirdametinib is an oral, small molecule inhibitor of MEK1 and MEK2. MEK proteins occupy a pivotal position in the MAPK pathway, a key signaling network that regulates cell growth and survival, and that plays a central role in multiple oncology and rare disease indications.

Mirdametinib has been evaluated in several Phase 1 and Phase 2 clinical trials, with over 200 subjects having been exposed to treatment. A Phase 2 trial was conducted by the Neurofibromatosis Clinical Trial Consortium and evaluated mirdametinib in 19 adolescent and adult patients with inoperable and symptomatic or growing plexiform neurofibromas. Patients received an oral dose of 2 mg/m2 BID with a maximum dose of 4 mg BID on a four-week cycle of three weeks-on, one week-off. Eight patients (42%) achieved an objective response by cycle 12, prospectively defined as volumetric reduction in their target PN of at least 20 percent. Mirdametinib was generally well-tolerated in this trial. The most commonly reported treatment-emergent grade 2 or higher AEs were acneiform rash in 53% (10/19), fatigue in 26% (5/19) and nausea in 21% (4/19) of patients.

In addition to the Phase 2b monotherapy trial in NF1-associated PN, and given the critical role that the MAPK pathway plays in the growth and proliferation of a large number of tumor types, SpringWorks is also pursuing mirdametinib in combination with other rational anticancer agents across a range of solid tumors.

Evelo Biosciences to Host Quarterly Corporate Update Conference Call on Tuesday, August 6th

On July 30, 2019 Evelo Biosciences, Inc. (Nasdaq: EVLO) ("Evelo"), a biotechnology company developing oral biologics that act on cells in the small intestine with systemic therapeutic effects, reported that it will host a conference call and live webcast at 8:30 A.M. ET on Tuesday, August 6, 2019 to report its second quarter financial results and discuss recent business updates (Press release, Evelo Biosciences, JUL 30, 2019, View Source [SID1234538811]).

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To access the live conference call, please dial 1-866-795-3242 (domestic) or 1-409-937-8909 (international) and refer to conference ID 6380636. A live webcast of the event will also be available under "News and Events" in the Investors section of Evelo’s website at View Source The archived webcast will be available on Evelo’s website approximately two hours after the completion of the event and will be available for 30 days following the call.

Significant Regulatory Milestone Towards Phase 2 in Recurrent GBM

On July 30, 2019 Bexion Pharmaceuticals, Inc. an oncology-focused company reported the completion of a Type B End-of-Phase 1 meeting with the U.S. Food and Drug Administration (FDA) to discuss the End of Phase 1 and the design of a Phase 2 clinical trial for BXQ-350, the Company’s lead candidate, for the treatment of recurrent Glioblastoma Multiforme (rGBM) (Press release, Bexion, JUL 30, 2019, View Source [SID1234538715]).

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Type B Meeting
In the Type B meeting, the FDA provided guidance on various design aspects of Bexion’s proposed Phase 2 clinical trial. The trial is expected to enroll 55-60 patients.

Significant Regulatory Milestone
"An End of Phase 1 meeting with the FDA is a significant regulatory milestone for any new clinical development program," said Dr. Richard Schwen, Regulatory Consultant for Bexion. "Such meetings are granted by the FDA only when significant data on the drug are available. Bexion’s recent meeting signals the FDA’s interest in the BXQ-350 program, and an opportunity for Bexion to obtain input to refine the remaining studies required for an FDA approval."

Phase 2
The Phase 2 trial is designed with learnings from the Phase 1 program, which dosed 93 patients, with 21 having rGBM. The Phase 1 program reached the highest planned dose and demonstrated a strong safety profile for BXQ-350.

Based upon the FDA’s feedback, Bexion will submit a Phase 2 clinical trial protocol and statistical analysis plan along with the requested Chemistry, Manufacturing and Controls (CMC) information to the Investigational New Drug (IND) application.

"The FDA has provided us very valuable advice on the design of the Phase 2 trial, and we are grateful for their comprehensive feedback," said Dr. Ray Takigiku, CEO of Bexion Pharmaceuticals. "Recurrent GBM remains an urgent unmet medical need, and we believe the initiation of a Phase 2 clinical trial of BXQ-350 for this devastating disease is a major milestone for both patients and Bexion. We are working diligently to incorporate the FDA’s comments into the IND, with the expectation of initiating the Phase 2 trial in the first quarter of 2020."

Gilead Sciences Announces Third Quarter 2019 Dividend

On July 30, 2019 Gilead Sciences, Inc. (Nasdaq: GILD) reported that the company’s Board of Directors has declared a cash dividend of $0.63 per share of common stock for the third quarter of 2019 (Press release, Gilead Sciences, JUL 30, 2019, View Source [SID1234537947]). The dividend is payable on September 27, 2019, to stockholders of record at the close of business on September 13, 2019. Future dividends will be subject to Board approval.

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