Bonum Therapeutics to Present on its Novel Platform for Generating Conditionally Activated Targeted Therapies at Keystone Conference

On April 29, 2024 Bonum Therapeutics, a biotechnology company that is using its proprietary platform for conditional regulation to create highly active and less toxic medicines, reported that it will present data on a new class of protein therapeutics with the potential for increased safety and efficacy in a wide range of biologic targets and disease areas (Press release, Bonum Therapeutics, APR 29, 2024, View Source [SID1234642449]). Scientists from Bonum will present two posters at the upcoming Keystone Symposium, "Antibodies as Drugs: The Art in Antibody Engineering," which will be held May 5-8 at the Beaver Run Conference Center in Breckenridge, CO.

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"A novel method for generating regulated cytokine therapeutics: Safety and activity of a conditionally active cLAG3-IL2 in a simple antibody format."

"We are excited about the success of our platform technology with multiple conditionally active target/effector combinations, and we are particularly encouraged by the rapid progress of our lead program, cLAG3-IL2," said John Mulligan, PhD, Bonum’s CEO and founder. "These presentations detail the strengths of Bonum’s platform technology and its application to the company’s lead asset."

Details of the poster presentations are as follows:

Title: "Development of a new class of targeted and conditional cytokine therapeutics using a novel dual-binding antibody-based platform."

Abstract: This poster will highlight Bonum’s unique dual-binding antibody platform technology which allows the generation of therapeutics with targeted, conditional cytokine activity only when bound to a selected marker. While the company’s current focus is on the development of therapeutics incorporating immunostimulatory cytokines, its technology can be applied to the regulation of any functional protein moieties, including agonist and antagonistic antibody binding domains, growth factors, and receptors.

Title: "A novel method for generating regulated cytokine therapeutics: Safety and activity of a conditionally active cLAG3-IL2 in a simple antibody format."

Abstract: This poster will highlight a conditionally active therapeutic called cLAG3-IL2, which targets IL-2 to LAG-3+ cells while remaining systemically inert, even at high treatment doses. The in vivo safety and efficacy data described in this poster demonstrate that this program is suitable for clinical development.

The conference organizers have selected Bonum’s poster on its cLAG3-IL2 program for presentation as a short talk during the session "Orchestrating Immune Defense Against Cancer by Antibody Engineering" on May 7 from 8 a.m. to 11 a.m. Dr. Mulligan will give the talk, titled "A novel method for generating regulated cytokine therapeutics: Safety and activity of a conditionally active cLAG3-IL2 in a simple antibody format."

The posters will be available on the Bonum website on Monday, May 6, at noon Mountain Time.

Bonum is developing new therapies based on its proprietary platform of conditionally active therapeutics. The company is a spinout of Good Therapeutics, which developed the technology that Bonum is advancing. The merits of the platform were validated by the Roche acquisition of Good Therapeutics for its PD-1-regulated IL-2 program in September 2022.

CARsgen Submitted Responses to FDA Observations

On April 29, 2024 CARsgen Therapeutics Holdings Limited (Stock Code: 2171.HK), a company focused on innovative CAR T-cell therapies for the treatment of hematologic malignancies and solid tumors, reported that responses regarding the status of the Corrective and Preventive Actions (CAPAs) plan have been submitted to the U.S. Food and Drug Administration (FDA) (Press release, Carsgen Therapeutics, APR 29, 2024, View Source [SID1234642448]). This submission is related to the observations identified in the Form 483 issued after the FDA inspection in December 2023 of our clinical manufacturing site in Durham, North Carolina. All relevant works are progressing smoothly according to the previously committed timetable.

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The Company is committed to working closely with the FDA to prioritize quality in production during clinical trials.

Medivir to present data for the combination of fostrox + Lenvima in HCC at ESMO GI

On April 29, 2024 Medivir AB (NASDAQ: MVIR) (STO: MVIR), a pharmaceutical company focused on developing innovative treatments for cancer in areas of high unmet medical need, reported that an abstract for the combination of fostroxacitabine bralpamide (fostrox) + Lenvima in hepatocellular carcinoma (HCC) has been accepted for presentation at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Gastrointestinal (GI) Cancers Congress in June 26-29, 2024 in Munich (Press release, Medivir, APR 29, 2024, View Source;lenvima-in-hcc-at-esmo-gi-302129837.html [SID1234642447]).

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The abstract, titled "Liver pharmacodynamics in an open-label phase Ib/IIa study of fostroxacitabine bralpamide (fostrox, MIV-818) in combination with lenvatinib in 2L/3L hepatocellular carcinoma" will be presented at the conference by Dr Hong Jae Chon, CHA Bundang Medical Center in Korea. Dr Chon is one of the investigators in the ongoing phase Ib/IIa study.

The presentation will include pharmacodynamic data from patients in the ongoing phase Ib/IIa clinical study with fostrox + Lenvima combination, evaluating the impact on normal liver function and DNA damage in tumor cells vs healthy cells. The presentation will also include an update on efficacy endpoints as the study has continued to mature and patients have been able to stay on treatment.

The poster will be available on Medivir’s website after the presentation.

Accord BioPharma, Inc. Announces U.S. Food & Drug Administration Approval of HERCESSI™ (trastuzumab-strf), a biosimilar to Herceptin® (trastuzumab) for the Treatment of Several Forms of HER2-Overexpressing Cancer

On April 29, 2024 Accord BioPharma, Inc., the U.S. specialty division of Intas Pharmaceuticals, Ltd., focused on the development of oncology, immunology, and critical care therapies, reported that the U.S. Food and Drug Administration (FDA) has approved HERCESSI (trastuzumab-strf), a biosimilar to Herceptin (trastuzumab), to treat HER2-overexpressing breast and gastric or gastroesophageal junction adenocarcinoma (Press release, Accord BioPharma, APR 29, 2024, View Source;drug-administration-approval-of-hercessi-trastuzumab-strf-a-biosimilar-to-herceptin-trastuzumab-for-the-treatment-of-several-forms-of-her2-overexpressing-cancer-302129508.html [SID1234642446]).

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"The approval of HERCESSI—our first biosimilar to be approved in the U.S.—marks an important milestone for Accord BioPharma in our efforts to improve access for patients," said Chrys Kokino, U.S. president of Accord. "Because breast and gastric cancers are among the most common types of cancer and cancer can have a high-cost burden for patients, there is a need to provide these patients with additional treatment options that may be more affordable, such as biosimilars."

HERCESSI is indicated for adjuvant treatment of HER2-overexpressing breast cancer, the treatment of HER2-overexpressing metastatic breast cancer, and the treatment of HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma. HER2 cancers in general are particularly aggressive cancer types that respond well to targeted treatment. HERCESSI works by binding to and inactivating the HER2 receptor, slowing down cell replication.

FDA approval was granted based on a comprehensive package of analytical, pre-clinical, and clinical data, which showed HERCESSI and its reference product, Herceptin (trastuzumab) are highly similar in terms of efficacy, safety, and quality. The clinical program for HERCESSI included three studies since 2015 to demonstrate pharmacokinetic (PK) comparability and clinical efficacy/safety similarity between HERCESSI and its reference product.

The studies include two Phase 1 comparative single-dose PK equivalence studies conducted in healthy volunteers (HLX02-HV01 and HLX02-HV02), and a supportive Phase 3, double-blind, randomized clinical efficacy and safety comparability study in patients with HER2-overexpressing metastatic breast cancer in combination with docetaxel (HLX02-BC01). The PK comparability and clinical efficacy/safety similarity exercised in HLX02-HV02 and HLX02-BC01 adheres to current biosimilar guidance from the FDA.

The safety profile of HERCESSI has been shown to be consistent with the safety profile for the reference product Herceptin. The data demonstrate that there are no clinically meaningful differences between HERCESSI and Herceptin in the populations studied and support biosimilarity between the two therapies.

"Our first FDA-approved biosimilar is an important achievement for our U.S. specialty business, but we’re just getting started. We aspire to deliver one of the deepest portfolios of biosimilars to patients and providers alike, and to help the U.S. health system achieve significant savings," said Binish Chudgar, vice chairman and managing director, Intas Pharmaceuticals. "Our vision to make affordable medicines available forms the bedrock of the company, and this work advances that vision to provide value and promote access for all the key stakeholders we engage along the treatment journey."

HERCESSI was approved by the FDA at a dosage of 150mg. A 420mg-strength version of HERCESSI is also in development from Accord BioPharma, with an FDA decision anticipated in Q4 2024.

HERCESSI was originally developed by Accord’s business partner Shanghai Henlius Biotech, Inc. headquartered in Shanghai, China. In 2021, Henlius granted Accord BioPharma the exclusive rights to develop and commercialize HERCESSI in the U.S. and Canada.

Mr. Jason Zhu, executive director, chief executive officer, and chief financial officer of Henlius remarked, "Henlius independently developed HLX02 (or HERCESSI in the U.S.) in accordance with the NMPA, the European Medicines Agency (EMA), the FDA, and other international biosimilar guidelines. It is Henlius’ first FDA-approved product. Our patient-centered approach has led us to unwaveringly explore high-quality, effective, affordable, and accessible treatment options, and our determination to promote HLX02 in more than 40 markets around the world is Henlius’ response to patients’ concerns. We look forward to reaching more patients in North America and providing them with more cost-effective access to high-quality biologics."

HERCESSI is the first U.S.-FDA-approved biosimilar from Accord BioPharma, which has also submitted a Biologics License Application to the FDA for biosimilar versions of pegfilgrastim, filgrastim and ustekinumab. Accord BioPharma is planning on introducing several additional biosimilars to the U.S. market during the next five years.

Boxed Warning and Additional Important Safety Information

HERCESSI (trastuzumab-strf) for injection, for intravenous use.

HERCESSI (trastuzumab-strf) is biosimilar to HERCEPTIN (trastuzumab).

WARNING: CARDIOMYOPATHY, INFUSION REACTIONS, EMBRYO-FETAL TOXICITY, and PULMONARY TOXICITY
See full prescribing information for complete boxed warning.

Cardiomyopathy: Trastuzumab products can result in subclinical and clinical cardiac failure manifesting as CHF, and decreased LVEF, with greater risk when administered concurrently with anthracyclines. Evaluate cardiac function prior to and during treatment. Discontinue HERCESSI for cardiomyopathy.

Infusion Reactions, Pulmonary Toxicity: Discontinue HERCESSI for anaphylaxis, angioedema, interstitial pneumonitis, or acute respiratory distress syndrome.

Embryo-Fetal Toxicity: Exposure to trastuzumab products during pregnancy can result in oligohydramnios, in some cases complicated by pulmonary hypoplasia and neonatal death. Advise patients of these risks and the need for effective contraception.

Cardiomyopathy

HERCESSI administration can result in sub-clinical and clinical cardiac failure. The incidence and severity was highest in patients receiving trastuzumab with anthracycline-containing chemotherapy regimens.
HERCESSI can cause left ventricular cardiac dysfunction, arrhythmias, hypertension, disabling cardiac failure, cardiomyopathy, and cardiac death.
HERCESSI can also cause asymptomatic decline in LVEF by echocardiogram or MUGA scan.
Evaluate left ventricular function in all patients prior to and during treatment with HERCESSI and every 6 months for at least 2 years following completion of HERCESSI as a component of adjuvant therapy.
Discontinue HERCESSI treatment in patients receiving adjuvant therapy and withhold HERCESSI in patients with metastatic disease for clinically significant decrease in left ventricular function.
The safety of continuation or resumption of HERCESSI in patients with trastuzumab product-induced left ventricular cardiac dysfunction has not been studied.
Infusion Reactions

With trastuzumab products, serious and fatal infusion reactions have been reported. Severe reactions, which include bronchospasm, anaphylaxis, angioedema, hypoxia, and severe hypotension were usually reported during or immediately following the initial infusion.
Interrupt HERCESSI infusion for dyspnea, clinically significant hypotension, and intervention of medical therapy administered (which may include epinephrine, corticosteroids, diphenhydramine, bronchodilators, and oxygen).
Monitor patients until symptoms completely resolve.
Discontinue HERCESSI for infusion reactions manifesting as anaphylaxis, angioedema, interstitial pneumonitis, or acute respiratory distress syndrome. Strongly consider permanent discontinuation in all patients with severe infusion reactions.
Infusion reactions consist of a symptom complex characterized by fever and chills, and on occasion include nausea, vomiting, pain (in some cases at tumor sites), headache, dizziness, dyspnea, hypotension, rash, and asthenia.
Embryo-Fetal Toxicity

Exposure to HERCESSI 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.
Verify the pregnancy status of females of reproductive potential prior to the initiation of HERCESSI.
Advise females of reproductive potential to use effective contraception during treatment and for at least 7 months following the last dose of HERCESSI. Advise female patients to contact their healthcare provider with a known or suspected pregnancy.
Consider the developmental and health benefits of breastfeeding along with the mother’s clinical need for HERCESSI treatment and any potential adverse effects on the breastfed child from HERCESSI or from the underlying maternal condition. This consideration should also take into account the trastuzumab product wash out period of 7 months.
Pulmonary Toxicity

HERCESSI administration can result in serious and fatal pulmonary toxicity, which includes dyspnea, interstitial pneumonitis, pulmonary infiltrates, pleural effusions, noncardiogenic pulmonary edema, pulmonary insufficiency and hypoxia, acute respiratory distress syndrome, and pulmonary fibrosis. Such events can occur as sequelae of infusion reactions.
Patients with symptomatic intrinsic lung disease or with extensive tumor involvement of the lungs, resulting in dyspnea at rest, appear to have more severe toxicity.
Discontinue HERCESSI in patients experiencing pulmonary toxicity.
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 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 associated with trastuzumab products in the adjuvant and metastatic breast cancer (≥ 10%) are fever, nausea, vomiting, infusion reactions, diarrhea, infections, increased cough, headache, fatigue, dyspnea, rash, neutropenia, anemia, and myalgia.
The most common adverse reactions associated with trastuzumab products in metastatic gastric cancer (≥ 10%) are neutropenia, diarrhea, fatigue, anemia, stomatitis, weight loss, upper respiratory tract infections, fever, thrombocytopenia, mucosal inflammation, nasopharyngitis, and dysgeusia.
Indications
Adjuvant Breast Cancer
HERCESSI (trastuzumab-strf) is indicated for adjuvant treatment of HER2-overexpressing nodepositive or nodenegative (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.

Metastatic Breast Cancer
HERCESSI 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.

Metastatic Gastric Cancer
HERCESSI 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.

Click here for full Prescribing Information, including Boxed Warnings.

MorphoSys AG Reports First Quarter 2024 Financial Results

On April 29, 2024 MorphoSys AG (FSE: MOR; NASDAQ: MOR) reported results for the first quarter of 2024 (Press release, MorphoSys, APR 29, 2024, View Source [SID1234642445]).

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"The proposed acquisition by Novartis is advancing steadily, and we continue to anticipate its closure in the first half of 2024. The acceptance period for the acquisition is currently underway, and both our Management Board and Supervisory Board unanimously recommend that our shareholders accept the offer and tender their shares given the highly attractive and equitable offer price," said Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys. "Utilizing its extensive resources, broad scientific experience and worldwide presence, Novartis will help maximize commercial and expedite development opportunities across our promising oncology programs."

Novartis’ Public Takeover Offer Highlights:

On February 5, 2024, MorphoSys announced the intention of Novartis BidCo AG, a wholly owned indirect subsidiary of Novartis AG (hereinafter collectively referred to as "Novartis"), to submit a voluntary public takeover offer for all outstanding MorphoSys no-par value bearer shares at an offer price of € 68.00 per share in cash, representing a total equity value of € 2.7 billion. The offer price corresponds to a premium of 94% and 142% on the volume-weighted average price during the last month and three months, respectively, as of the unaffected January 25, 2024, closing price.

On March 13, 2024, MorphoSys confirmed the receipt of antitrust clearance in Germany and Austria. Subsequently, on March 22, 2024, MorphoSys announced the receipt of U.S. antitrust clearance. As a result, all mandatory antitrust approvals for the proposed acquisition have been obtained.

On April 11, 2024, Novartis published its offer document. Following the publication of the offer document, the MorphoSys Management Board and Supervisory Board issued a joint reasoned statement, recommending that shareholders accept the offer and tender their MorphoSys shares. The acceptance period for shareholders commenced with the publication of the offer document on April 11, 2024, and will end on May 13, 2024, at 24:00 hours CEST and 18:00 hours EDT (also on May 13, 2024).

Medical Conferences Highlights:

On April 24, 2024, MorphoSys announced that new efficacy and safety data from the Phase 3 MANIFEST-2 trial of pelabresib, an investigational BET inhibitor, in combination with the JAK inhibitor ruxolitinib in JAK inhibitor-naïve patients with myelofibrosis will be highlighted during an oral presentation on Friday, May 31, at the 2024 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting. Additionally, new data from the Phase 2 study of tulmimetostat, an investigational next-generation dual inhibitor of EZH2 and EZH1, in patients with advanced solid tumors or hematologic malignancies will be showcased in a poster presentation at ASCO (Free ASCO Whitepaper) 2024 on Saturday, June 1.

Financial Results for the First Quarter of 2024 (IFRS):

The financial results presented for the first quarter of 2024 relate to continuing business operations of MorphoSys. Due to the announcement on February 5, 2024, of the sale and transfer of all rights worldwide related to tafasitamab to Incyte Corporation ("Incyte"), the entire tafasitamab business has been classified as discontinued operations. Consequently, the figures reported for the first quarter of 2023 were adapted due to this change in presentation.

Group Revenues: Group revenues from continued operations amounted to € 27.5 million (3M 2023: € 24.3 million). Group revenues mainly included revenues from royalties in the amount of € 27.0 million (3M 2023: € 20.9 million), Additional Group revenues from continued operations are attributable to licenses, milestones, and other sources, amounting to € 0.5 million (3M 2023: € 3.5 million).

Cost of Sales: Cost of sales in the first quarter of 2024 amounted to € 2.8 million (3M 2023: € 1.0 million). The year-on-year increase is mainly attributable to higher personnel costs.

Research and Development (R&D) Expenses: In the first quarter 2024, R&D expenses were € 85.2 million (Q1 2023: € 65.4 million). The increase consists mainly in personnel expenses resulting from probable effects of both an accelerated vesting of certain share-based compensation programs and the recognition of remuneration-related provisions following the proposed acquisition by Novartis.

Selling, General and Administrative (SG&A) Expenses: Selling expenses in the first quarter 2024 were € 18.5 million (Q1 2023: € 3.4 million). The increase in selling expenses is mainly due to the probable effects of accelerated vesting of certain share-based payment programs and the recognition of remuneration-related provisions following the proposed acquisition by Novartis. General and administrative (G&A) expenses amounted to € 185.5 million (Q1 2023: € 10.6 million). The increase in general and administrative expenses is mainly due to the probable effects of accelerated vesting of certain share-based payment programs and the recognition of remuneration-related provisions following the proposed acquisition by Novartis. Expenses resulting from external services mainly increased due to the expected transaction costs in connection with the proposed acquisition by Novartis.

Operating Loss: Operating loss amounted to € 264.4 million in the first quarter 2024 (Q1 2023: operating loss of € 56.1 million).

Consolidated Net Loss: For the first quarter 2024, consolidated net loss was € 311.0 million (Q1 2023: consolidated net loss of € 32.2 million).

Monjuvi/Minjuvi Update (Discontinued Operations):

On February 5, 2024, MorphoSys entered into a purchase agreement with Incyte to sell and transfer all rights worldwide related to tafasitamab to Incyte.

Monjuvi (tafasitamab-cxix) U.S. net product sales of US$ 6.4 million (€ 5.9 million) prior to the sale of tafasitamab to Incyte on February 5, 2024.

Minjuvi royalty revenue of € 0.6 million for sales outside of the U.S. prior the sale of tafasitamab to Incyte on February 5, 2024.

Since February 5, 2024, all research and development activities in connection with tafasitamab are in the responsibility of Incyte, and hence MorphoSys does no longer recognize research and development expenses from such activities.

Full Year 2024 Financial Guidance:

As a consequence of the sale and transfer of tafasitamab to Incyte on February 5, 2024, MorphoSys’ 2024 financial guidance published on January 30, 2024, cannot be maintained and therefore was revoked. For the time being, MorphoSys will no longer make a forecast for the gross margin or revenues from Monjuvi product sales, as no such revenues are expected to be realized this year.

For 2024, MorphoSys expects R&D expenses of € 170 million to € 185 million on a standalone basis. R&D expenses mainly represent our investments in the development of pelabresib and tulmimetostat. Selling, administrative and general expenses are expected to be between € 90 million and € 105 million on a standalone basis. Potential effects from the implementation of the Novartis takeover offer, including any first quarter 2024 related provisions and expenses associated with the change of control, are not included in this forecast. The overall forecast is subject to a number of uncertainties, including inflation and foreign currency effects.

Operational Outlook:

The following activity is planned for 2024:

Following the anticipated close of the proposed acquisition by Novartis in the first half of 2024, submit a New Drug Application for pelabresib in combination with ruxolitinib in myelofibrosis to the U.S. Food and Drug Administration (FDA) and a Marketing Authorization Application to the European Medicines Agency in the second half of 2024.
MorphoSys Group Key Figures (IFRS, end of the first quarter: March 31, 2024)

in € million Q1 2024 Q1 2023 Δ
Revenues 27.5 24.3 13 %
Royalties 27.0 20.9 29 %
Licenses, Milestones and Other 0.5 3.5 (86) %
Cost of Sales (2.8) (1.0) >100%
Gross Profit 24.7 23.3 6 %
Total Operating Expenses (289.1) (79.4) >100%
Research and Development (85.2) (65.4) 30 %
Selling (18.5) (3.4) >100%
General and Administrative (185.5) (10.6) >100%
Operating Profit / (Loss) (264.4) (56.1) >100%
Other Income 0.8 2.1 (62) %
Other Expenses (0.4) (1.8) (78) %
Finance Income 9.6 50.8 (81) %
Finance Expenses (56.8) (25.2) >100%
Income from Reversals of Impairment Losses / (Impairment Losses) on Financial Assets 0.1 0.5 (80) %
Share of Loss of Associates accounted for using the Equity Method (1.5) (2.5) (40) %
Income Tax Benefit / (Expenses) 1.6 0.0 n/a
Consolidated Net Profit / (Loss) from Continued Operations (311.0) (32.2) >100%
Consolidated Net Profit / (Loss) from Discontinued Operations (3.9) (12.2) (68) %
Earnings per Share, Basic and Diluted (in €) from continued operations (8.27) (0.94) >100%
Cash and other financial assets (end of period) 631.9 680.5 * (7) %
* Value as of December 31, 2023
Conference call

Due to the pending acquisition of MorphoSys by Novartis, MorphoSys will not be hosting its quarterly conference call and does not expect to do so in future quarters. Earnings materials are publicly available on the Investor Relations page of our website at www.morphosys.com/en/investors. Please direct any questions to MorphoSys Investor Relations using the contact information provided below.