EpiAxis Therapeutics presents at Bioshares Biotech Summit

On May 19, 2022 EpiAxis Therapeutics reported to attend and present at the 16th Bioshares Biotech Summit this month in Albury, NSW (Press release, EpiAxis Therapeutics, MAY 19, 2022, View Source;utm_medium=rss&utm_campaign=epiaxis-therapeutics-presents-bioshares-biotech-summit [SID1234614860]).

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BioShares is a life science conference mainly targeting ASX-listed Australian biotech companies, biotech investors, fund managers and brokers and entrepreneurs. The conference was organised by Bioshares, Australia’s leading independent biotech investment publication.

The event featured an intense two-day program, with approximately 25 speakers and excellent networking opportunities within the biotech industry and investment sectors. It was a valuable opportunity to access to investors who support the Australian life science sector.

EpiAxis was represented at Bioshares by Chairman Dr David Fuller, Director Rob McInnes and CEO Dr Jeremy Chrisp. Dr Chrisp gave a presentation during the "New Kids on the Block" session on day two of the conference.

Dr Fuller said: "It was great to see Bioshares return and be face-to-face with industry colleagues and friends again after the COVID-19 pandemic. The EpiAxis presentation was well received and marked the start of our next fundraising effort, with discussions held with many of the investors and funds present."

ChromaDex Announces Agreement to Launch Commercial Joint Venture in Mainland China

On May 19, 2022 ChromaDex Corp. (NASDAQ:CDXC) ("the Company") a global bioscience company dedicated to healthy aging, reported it has entered into an agreement (the "JV Agreement") to establish a joint venture through its wholly owned subsidiary ChromaDex Asia Limited (the "JV" or "ChromaDex Asia") (Press release, ChromaDex, MAY 19, 2022, View Source [SID1234614859]). Upon establishment of the JV, membership of ChromaDex Asia will collectively consist of the Company; Crystal Lake Developments Limited; Pioneer Idea Holdings Limited; and Hong Kong Taikuk (China) Group Limited. ChromaDex Asia is expected to assume the distribution agreement noted in a previous announced press release with Sinopharm Xingsha ("Sinopharm") as it relates to the commercialization of Tru Niagen in mainland China and its territories, excluding Hong Kong, Macau and Taiwan (the "Territory"). The JV’s entry into a distribution agreement will be contingent upon Sinopharm successfully attaining health food product registration for Tru Niagen with the People’s Republic of China’s State Administration for Market Regulation ("SAMR"). SAMR is the regulatory body responsible for health food registration. Health food registration is a key regulatory step required to be able to broadly market and distribute Tru Niagen products in China. Formation of the joint venture is subject to customary closing conditions.

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"The establishment of this joint venture marks an expansion milestone in ChromaDex’s China strategy and sets the necessary foundation to advance sales of Tru Niagen in this key market," said Rob Fried, CEO of ChromaDex. "We are honored to extend our professional relationship with existing strategic partners, as well as our new partner in this venture, Taikuk."

For detailed transaction terms, see 8-K (filed on May 19, 2022).

Abeona Therapeutics Granted Second 180-Day Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule

On May 19, 2022 Abeona Therapeutics Inc. (Nasdaq: ABEO), a fully-integrated leader in cell and gene therapy, reported that the Company has been granted an additional 180-day period from Nasdaq’s Listing Qualification Department, through November 14, 2022, to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Press release, Abeona Therapeutics, MAY 19, 2022, View Source [SID1234614856]). The Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol "ABEO."

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If at any time until November 14, 2022, the closing bid price of the Company’s common stock is at or above $1.00 per share for a minimum of 10 consecutive trading days, Nasdaq will provide the Company with written confirmation of compliance. If compliance cannot be demonstrated during the additional 180-day grace period, Nasdaq will provide written notification that the common stock will be subject to delisting. At such time, the Company may appeal the determination to a Nasdaq Hearings Panel. The Company’s common stock would remain listed pending the completion of the appeal process.

As part of the Company’s strategy to regain compliance with Nasdaq’s minimum bid price requirement, Abeona intends to seek approval of a reverse stock split of the outstanding shares of common stock at a Special Meeting of stockholders at 10:00 am ET on June 14, 2022. Stockholders as of May 3, 2022, the record date, are entitled to attend the online Special Meeting, view the proxy statement and vote at: www.virtualshareholdermeeting.com/ABEO2022SM.

Pulse Biosciences, Inc. Announces Changes to its Rights Offering

On May 19, 2022 Pulse Biosciences, Inc. (Nasdaq: PLSE) (the "Company" or "Pulse Biosciences"), a novel bioelectric medicine company commercializing the CellFX System Powered by Nano-Pulse Stimulation (NPS) technology, reported two changes to its current rights offering (Press release, Pulse Biosciences, MAY 19, 2022, View Source [SID1234614854]). First, the Company has extended the expiration date of the rights offering from May 23, 2022 to May 26, 2022, at 5:00 p.m., Eastern Time (the "Expiration Date"). Second, the Company has amended the definition of "Alternate Price" in the rights offering to be the volume weighted average price of Pulse Biosciences common stock for the five trading day period through and including May 23, 2022. The rights offering has been registered with the Securities and Exchange Commission (the "SEC") and a copy of the prospectus describing the rights offering can be obtained at the SEC’s website at www.SEC.gov. All other terms and conditions of the rights offering remain the same as previously announced by the Company in the prospectus and Form 8-K filed by the Company with the SEC on May 4, 2022.

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Pulse Biosciences has received reports that some brokers have imposed internal "cut-off" dates for participating in the rights offering as early as May 19, 2022, the date of the Company’s previously scheduled annual stockholder meeting. Accordingly, the Company’s Board of Directors has decided to extend the Expiration Date by three business days to allow all stockholders additional time through May 26, 2022 at 5:00 p.m., Eastern Time to exercise their subscription rights, subject to each stockholder’s applicable broker cut off date to subscribe. The Board of Directors has also decided to amend the Alternate Price so that stockholders will know the final subscription price before the new Expiration Date.

The subscription rights in the rights offering are non-transferrable and may only be exercised during the subscription period. The subscription period for the rights offering commenced on May 4, 2022. The Company has now extended the Expiration Date for the rights offering to 5:00 p.m., Eastern Time, on Thursday, May 26, 2022. The Subscription Price will now equal the lesser of (i) $3.72 and (ii) the volume weighted average price of the Company’s common stock for the five trading days through and including May 23, 2022. The amendments to the rights offering does not require those stockholders who have already subscribed to purchase Units under the rights offering to take any further action.

If exercising subscription rights through a broker, dealer, bank or other nominee, or online platform, rights holders should promptly contact their nominee or online platform, and submit subscription documents and payment for the rights subscribed for in accordance with the instructions and within the time period provided by such nominee, or online platform. The broker, dealer, bank, or other nominee will establish a deadline before May 26, 2022, by which time instructions to exercise subscription rights, along with the required subscription payment, must be received. Based upon recent occurrences, stockholders who wish to participate in the rights offering are urged to contact their broker or online trading platform as soon as possible to confirm their deadline and also to determine whether the broker or online trading platform will be charging a transaction fee.

The rights offering is being made pursuant to the Company’s shelf registration statement on Form S-3, which became effective on August 21, 2020, and the prospectus supplement dated May 4, 2022 on file with the SEC containing the detailed terms of the rights offering. Before investing, eligible stockholders should read the prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the rights offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any state or other 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. Any offer will be made only by means of a prospectus forming part of the registration statement.

Biomea Fusion Announces IND Candidate Selection: BMF-500, a Potential Best-in-Class Oral Covalent Inhibitor of FLT3

On May 19, 2022 Biomea Fusion, Inc. (Nasdaq: BMEA), a clinical-stage biopharmaceutical company dedicated to discovering and developing novel covalent small molecules to treat and improve the lives of patients with genetically defined cancers and metabolic diseases, reported the nomination of its second product candidate, BMF-500, a highly selective and potent covalent investigational third-generation FLT3 inhibitor (Press release, Biomea Fusion, MAY 19, 2022, View Source [SID1234614853]).

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Approximately 30% of AML patients present with a FLT3 mutation and remain poorly controlled with currently available therapies. First and second-generation FLT3 inhibitors frequently have a narrow therapeutic window and patients often acquire rapid resistance to treatment, limiting the clinical efficacy of these agents. As a third-generation FLT3 inhibitor, BMF-500 is designed to overcome some of the characteristics that are believed to limit the duration of response and utility of these earlier generation FLT3 inhibitors.

BMF-500 was discovered and developed in-house at Biomea using the company’s proprietary FUSION System. BMF-500, like BMF-219, was designed to be clinically effective at relatively low drug concentrations in order to deliver an optimal therapeutic profile. Specifically, BMF-500 was observed in preclinical studies to be a highly active inhibitor of FLT3 with picomolar affinity for key isoforms of FLT3 while avoiding other key kinases tested, including structurally related KIT.

Because patients often acquire rapid resistance to treatment with first and second-generation FLT3 inhibitors, BMF-500 is designed to strongly inhibit FLT3 variants that are key drivers of resistance. Additionally, BMF-500 is designed to potentially have a therapeutic profile that may allow for combination with standard of care and/or targeted agents like BMF-219. Many patients with AML are older and unfit candidates for intensive chemotherapy but could benefit from BMF-500 and BMF-219 either as monotherapy or in combination.

AML is often described as the result of two broad complementary classes of mutations: Type I – those that confer a proliferative/survival advantage to hematopoietic progenitors including activating FLT3 mutations or their downstream effectors such as RAS, and Type II – those that impair hematopoietic differentiation and drive cell cycle progression, including NPM1, MLL-r, RUNX1, and DNMT3A mutations. With BMF-500 and BMF-219, Biomea plans to interrogate multiple molecular mechanisms that drive AML in the pursuit of establishing long-term disease management or a potential cure for these patients.

"FLT3 has been a challenge for companies to effectively target with either non-covalent or covalent approaches due to the homology of various kinases and other receptors, leading to off-target toxicities at potentially clinically relevant drug concentrations. Leveraging our FUSION System, we have quickly developed BMF-500, which we believe is among the most promising investigational FLT3 inhibitors to date," said Thomas Butler, Biomea’s Chief Executive Officer and Chairman of the Board. "With picomolar activity against key isoforms of FLT3, high specificity to FLT3 observed in preclinical studies, and the potential benefits of covalent engagement, we believe that BMF-500 is poised to become a leading targeted therapy for AML patients with FLT3 mutations, if approved. We look forward to leveraging the existing clinical infrastructure and know-how that we have developed through the planning and execution of our ongoing trial with BMF-219, COVALENT-101, and plan to explore the potential synergy between BMF-500 and BMF-219."

About FLT3 (fms-like tyrosine kinase 3)

FLT3 is a tyrosine kinase receptor that plays a central role in the survival, proliferation, and differentiation of immature blood cells. Notably, FLT3 gene mutations are common in patients with AML and are associated with a poor prognosis. Nearly 30% of AML patients have a FLT3 mutation, representing more than 6,000 incident patients in the United States each year. While FLT3-specific and pan-tyrosine kinase inhibitors are FDA approved across various lines of therapy in AML, these agents have produced relatively low rates of durable responses and overall survival remains an unmet need.