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BridgeBio Pharma Announces Pricing of Public Offering of Common Stock

On March 8, 2023 BridgeBio Pharma, Inc. (Nasdaq: BBIO) ("BridgeBio"), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, reported the pricing on March 7, 2023 of an underwritten public offering of 8,823,530 shares of its common stock at a public offering price of $17.00 per share, before deducting underwriting discounts and commissions (Press release, BridgeBio, MAR 8, 2023, View Source [SID1234628299]). In addition, BridgeBio has granted the underwriters a 30-day option to purchase up to an additional 1,323,529 shares of its common stock on the same terms and conditions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $150 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering to be sold by BridgeBio.

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Goldman Sachs & Co. LLC, Evercore ISI, Morgan Stanley and KKR Capital Markets LLC are acting as book-running managers for the offering. The offering is expected to close on or about March 10, 2023, subject to the satisfaction of customary closing conditions.

The shares of common stock are being offered by BridgeBio pursuant to an effective shelf registration statement on Form S-3ASR (File No. 333-239734) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on July 7, 2020 and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on March 6, 2023. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, from Goldman Sachs & Co. LLC, by mail at 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at (888) 474-0200, or by email at [email protected]; Morgan Stanley & Co. LLC, by mail at 1585 Broadway, New York, New York 10036, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; KKR Capital Markets LLC, by mail at 30 Hudson Yards, New York, New York 10001 or by telephone at (212) 750-8300; or by accessing the SEC’s website at www.sec.gov.

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

AbbVie to Present at the Barclays Global Healthcare Conference

On March 8, 2023 AbbVie (NYSE: ABBV) reported that it will participate in the Barclays Global Healthcare Conference on Wednesday, March 15, 2023 (Press release, AbbVie, MAR 8, 2023, View Source [SID1234628298]). Robert A. Michael, vice chairman and president, Scott Reents, executive vice president, chief financial officer, Jeffrey R. Stewart, executive vice president, chief commercial officer and Roopal Thakkar, senior vice president, development and regulatory affairs and chief medical officer, will present at 12:35 p.m. Central time.

A live audio webcast of the presentation will be accessible through AbbVie’s Investor Relations website at investors.abbvie.com. An archived edition of the session will be available later that day.

iPSirius Granted Second American Patent for Innovative IPVAC Cancer Vaccine Technology

On March 7, 2023 iPSirius, a leading biotechnology company focused on the development of innovative immunotherapies, reported that it has been granted its second American patent for a novel technology that enables the production of ‘off-the-shelf’ cancer vaccines from induced pluripotent stem cells (iPSCs) (Press release, iPSirius, MAR 7, 2023, https://bioinformant.com/ipsirius-patent-ipvac-cancer-vaccine/ [SID1234641002]).

The newly granted patent covers the proprietary methods developed by iPSirius for the production of their proprietary IPVAC off-the-shelf cancer vaccines. The first patent granted to the company in the USA currently allows the preparation of a pre-IND and the Company sees the extension of its American patent portfolio as significant to its efforts to scale its clinical and manufacturing programs over the coming years.

"We are thrilled to have been granted our second American patent for this groundbreaking technology," said Prof. Frank Griscelli, co-founder of iPSirius. "This is a major milestone for our company and further validates the potential of iPSC-based cancer vaccines to transform the treatment of a wide range of cancers. Our proprietary IPVAC technology is a key part of our pipeline of innovative cancer vaccines, and we are excited to continue developing and optimizing this technology to advance the field of cancer immunotherapy."

iPSirius has a strong pipeline of innovative off-the-shelf cancer vaccines in development, based on their proprietary IPVAC technology. With this new patent, the company has strengthened its position as a leader in the rapidly growing fields of cancer immunotherapy and iPSC therapeutics.

CIDARA THERAPEUTICS ANNOUNCES CLOSING OF PUBLIC OFFERINGS OF COMMON STOCK AND PREFERRED STOCK AND FULL EXERCISE OF UNDERWRITER’S OPTION TO PURCHASE ADDITIONAL SHARES IN PUBLIC OFFERING OF COMMON STOCK

On March 7, 2023 Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company developing long-acting therapeutics designed to help improve the standard of care for patients facing serious diseases, reported the closing of its previously announced concurrent but separate underwritten public offerings of 11,086,000 shares of its common stock, including the exercise in full by the underwriter of its option to purchase an additional 1,446,000 shares of common stock, and 286,000 shares of its Series X Convertible Preferred Stock (each share of which is initially convertible into 10 shares of common stock), for aggregate gross proceeds of approximately $19.5 million, before deducting underwriting discounts and commissions and estimated offering expenses (Press release, Cidara Therapeutics, MAR 7, 2023, View Source [SID1234636989]).

Cantor Fitzgerald & Co. acted as the sole book-running manager for each offering.

The securities described above were offered by Cidara pursuant to a shelf registration statement, which has been declared effective by the Securities and Exchange Commission (SEC). The offering was made only by means of a prospectus and prospectus supplements. Final prospectus supplements and the accompanying prospectus relating to the offerings have been filed with the SEC and are available for free on the SEC’s website at View Source Copies of the final prospectus supplements and the accompanying prospectus relating to these offerings may be obtained from: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 4th Floor, New York, New York 10022, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or a 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.

CIDARA THERAPEUTICS PRESENTS PRECLINICAL DATA ON CD73-TARGETING DRUG-FC CONJUGATE AT THE 2023 ESMO TARGETED ANTICANCER THERAPIES CONGRESS

On March 7, 2023 Cidara Therapeutics, Inc. (NASDAQ: CDTX), a biotechnology company developing long-acting therapeutics designed to help improve the standard of care for patients facing serious diseases, presented preclinical data on a CD73-targeting drug-Fc conjugate (DFC) candidate, CBO-212, from the Company’s Cloudbreak platform, at the ESMO (Free ESMO Whitepaper) Targeted Anticancer Therapies Congress (ESMO TAT) in Paris, March 6-8, 2023 (Press release, Cidara Therapeutics, MAR 7, 2023, View Source [SID1234636988]).

"The preclinical data presented at ESMO (Free ESMO Whitepaper) TAT represent important progress for Cidara in oncology, as these nonclinical results are the first supporting the anti-tumor potential of a Cloudbreak product candidate," said Jeffrey Stein, Ph.D. president and chief executive officer of Cidara. "We are initially focused on CD73 due to its documented contribution to immune evasion through the production of immune-suppressive adenosine in the tumor microenvironment. We believe that a CD73-targeted DFC, which combines positive attributes of small molecule and monoclonal antibody inhibitors, has the potential to ultimately provide a meaningful solution for patients."

The presented preclinical studies evaluated the functional activity, internalization and inhibition of CD73 by CBO-212 in both cell-free and cell-based assays. Key highlights include:

CBO-212 inhibited cell-anchored and soluble forms of CD73, both of which can contribute to immune-suppressive adenosine production in the tumor microenvironment, whereas positive control CD73 inhibitor monoclonal antibodies (mAbs) currently in clinical development acted primarily on cell-anchored CD73.
CBO-212 restored activation of human peripheral blood mononuclear cells suppressed with adenosine monophosphate to a greater extent than the mAb comparators, and similar to the small molecule inhibitors tested.
Unlike tested small molecule inhibitors currently in development, the multivalent presentation of CD73 inhibitors on CBO-212 induced receptor internalization and subsequent reduction of CD73 receptors expressed on a human breast cancer cell line.
These attributes, coupled with the long half-life mediated by the DFC Fc domain, led to significant tumor reduction in a mouse syngeneic tumor model after a single dose of CBO-212.
Cidara is currently advancing its lead CD73-targeting product candidate, CD421, which is an enhanced version of CBO-212 that confers reduced immunogenic properties.

About Cloudbreak DFCs
Cidara is developing a new generation of immunotherapeutic agents from its Cloudbreak platform that couple targeted small molecule and peptide drugs to a human antibody fragment (Fc). These highly potent, long-acting drug-Fc conjugates (DFCs) are designed to inhibit specific disease targets while simultaneously engaging the immune system. In addition to multiple oncology programs, Cidara is advancing its antiviral DFC CD388 through Phase 1 and Phase 2a clinical trials in partnership with Janssen for the universal prevention and treatment of influenza. Cidara is also advancing DFC programs to target other life-threatening viruses, such as SARS-CoV-2.