Arcus Biosciences to Participate in the Upcoming Investor Conferences

On February 15, 2022 Arcus Biosciences, Inc. (NYSE: RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for people with cancer, reported that management will participate at the following upcoming investor conferences (Press release, Arcus Biosciences, FEB 15, 2022, View Source [SID1234608149]):

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SVB Leerink 11th Annual Global Healthcare Conference
Date & Time: Wednesday, February 16th, 2022 at 1:20 p.m. PT
Format: Fireside Chat

Barclay’s Global Healthcare Conference
Date & Time: Thursday, March 17th, 2022 at 1:35 p.m. ET
Format: Fireside Chat

Live audio webcasts will be available by visiting the "Investors & Media" section of the Arcus Biosciences website at www.arcusbio.com. A replay of the webcasts will be available for at least two weeks following the live events.

Oxford Finance Announces the Closing of a $50 Million Credit Facility With OncoResponse

On February 15, 2022 Oxford Finance LLC ("Oxford"), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, reported the closing of a $50 million senior secured term loan with OncoResponse ("the Company"), a clinical-stage biotech company advancing immunotherapies derived from the immune systems of elite cancer responders (Press release, OncoResponse, FEB 15, 2022, View Source [SID1234608148]).

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Proceeds from the transaction will be used for general working capital and to support clinical testing of the Company’s lead drug OR2805, which is currently in clinical development.

"Our priority is to advance the clinical studies of our lead drug candidate, OR2805, across multiple tumor types. We will also use this capital to support our drug pipeline and leverage our proprietary platform to discover important new treatments for cancer. We are pleased to have this support from Oxford, in addition to that from our strong investor syndicate, to support these efforts," said Chris Russell, chief financial officer of OncoResponse.

OncoResponse is leveraging its proprietary human antibody platform to discover novel targets and identify fully human monoclonal antibodies as therapeutics for the treatment of cancer patients. The platform allows for the rapid screening of tens of thousands of antibodies made by the human immune system to identify immuno-modulatory antibodies.

"OncoResponse is led by an experienced management team that has a track record of successfully developing platform technologies and clinical-stage therapeutics," said Christopher A. Herr, senior managing director at Oxford. "Oxford is pleased to be a capital provider to OncoResponse and back its unique and compelling pipeline focused on reversing and relieving immunosuppression in the tumor microenvironment leading to better responses and more cures for cancer patients worldwide."

ImmunoGen Announces a Global, Multi-Target License Agreement of its Novel Camptothecin ADC Platform to Lilly for Up to $1.7 Billion

On February 15, 2022 ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, reported a global, multi-year definitive licensing agreement whereby it granted Eli Lilly and Company (Lilly) exclusive rights to research, develop, and commercialize ADCs directed to targets selected by Lilly based on ImmunoGen’s novel camptothecin technology (Press release, ImmunoGen, FEB 15, 2022, View Source [SID1234608147]). ImmunoGen retains full rights to the camptothecin platform for all targets not covered by the Lilly license.

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As part of the agreement, Lilly will pay ImmunoGen an upfront payment of $13 million, reflecting initial targets selected by Lilly. Lilly may select a pre-specified number of additional targets, with ImmunoGen eligible to receive an additional $32.5 million in exercise fees if Lilly licenses the full number of targets. ImmunoGen is eligible to receive up to $1.7 billion in potential target program exercise fees and milestone payments based on the achievement of pre-specified development, regulatory, and commercial milestones. ImmunoGen is also eligible for tiered royalties as a percentage of worldwide commercial sales by Lilly. Lilly is responsible for all costs associated with research and development.

Camptothecins are an important class of anticancer drugs targeting Type I topoisomerase. ImmunoGen’s proprietary class of camptothecin linker-payloads are designed to optimize existing camptothecin technology to potentially deliver a wider therapeutic window with enhanced safety and efficacy.

"Lilly has a proven track record of bringing transformative oncology medicines to market, and we are pleased that they selected our novel camptothecin technology to integrate with their efforts to develop next-generation ADCs," said Stacy Coen, ImmunoGen’s Senior Vice President and Chief Business Officer. "This licensing agreement demonstrates ImmunoGen’s continued innovation in ADCs, creates value from our intellectual property around a proprietary platform, and further enhances our ability to re-invest in our business as we build out our pipeline and accelerate our transformation into a fully-integrated oncology company."

Foundation Medicine’s ctDNA Monitoring Assay, FoundationOne®Tracker, Granted Breakthrough Device Designation by U.S. Food and Drug Administration

On February 15, 2022 Foundation Medicine, Inc., a pioneer in molecular profiling for cancer, reported that the U.S. Food and Drug Administration (FDA) has granted a Breakthrough Device designation for its circulating tumor DNA (ctDNA) detection and molecular monitoring assay, FoundationOneTracker (Press release, Foundation Medicine, FEB 15, 2022, View Source [SID1234608146]). The assay uses optimized algorithms for identifying patient-specific variants and a personalized assay design that allows for the detection of ctDNA in plasma. The Breakthrough Device designation was granted for the assay’s use in the detection of molecular residual disease, commonly known as MRD, in early-stage cancer after curative therapy. This molecular detection can help guide further therapy decisions depending on MRD status and an individual’s risk of relapse.

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Developed in partnership with Natera, FoundationOne Tracker uniquely combines Foundation Medicine’s tissue-based comprehensive genomic profiling (CGP) platform with Natera’s expertise in personalized ctDNA monitoring. The companies launched the research use only version of FoundationOne Tracker in June 2021, collaborating to support biopharma and academic partners with clinical trial and companion diagnostic planning.

In addition to the indications granted through the Breakthrough Device designation, FoundationOne Tracker’s personalized technology aims to address ctDNA detection and molecular monitoring in patients with both early- and advanced-stage cancers, including assessment of a patient’s response to therapy, as well as MRD detection, surveillance, and detection of molecular residual relapse following curative intent therapy.

"Foundation Medicine continues to shape the future of clinical care and research by helping oncologists and our industry partners find the answers they need to bring precision cancer care to patients," said Brian Alexander, M.D., M.P.H., chief executive officer at Foundation Medicine. "Personalized molecular disease monitoring enables early detection of ctDNA and can monitor for risk of relapse and track therapy response to help oncologists make personalized treatment plans for their patients. We are enthusiastic about our work to accelerate development of this assay so that it can more quickly impact care decisions in the clinic."

The FDA’s Breakthrough Devices Program is a voluntary program for certain medical devices and device-led combination products that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. The goal of the Program is to provide patients and health care providers with timely access to these medical devices by speeding up their development, assessment, and review, while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the FDA’s mission to protect and promote public health.

On the heels of data presented at the ASCO (Free ASCO Whitepaper) Gastrointestinal Cancer Symposium last month exploring the feasibility of MRD in metastatic colorectal patients who have undergone curative intent surgical resection, Foundation Medicine will also be presenting additional MRD data at the ASCO (Free ASCO Whitepaper) Genitourinary Cancers Symposium on February 18 on the genomics of resected early-stage bladder cancer to validate CGP-informed MRD detection in ctDNA.

Ambrx Biopharma Inc. Announces Submission of IND Application for ARX305 with the U.S. FDA

On February 15, 2022 Ambrx Biopharma Inc., or Ambrx (NYSE: AMAM), a clinical stage biopharmaceutical company using an expanded genetic code technology platform to create Engineered Precision Biologics, reported it received a "Study May Proceed" letter from the U.S. Food and Drug Administration (FDA) related to an Investigational New Drug (IND) application for ARX305, an antibody drug conjugate (ADC) designed to target CD70 to treat a broad range of solid and hematologic tumors such as renal cell carcinoma (Press release, Ambrx, FEB 15, 2022, View Source [SID1234608145]). ARX305 is the third ADC developed by Ambrx on its proprietary Engineered Precision Biologics platform that has received IND clearance.

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The clinical study cleared by the FDA, ARX305-01, is a first in human, Phase 1, multicenter, open-label, dose-escalation, and dose-expansion study to evaluate the safety, pharmacokinetics and preliminary anti-tumor activity of ARX305 in adults with clear cell renal cell carcinoma who are resistant or refractory to prior standard therapies.

ARX305 is an anti-CD70 ADC designed to target cancer cells displaying CD70, a protein expressed on a broad range of tumors including renal cell carcinoma, nasopharyngeal cancers, multiple myeloma, non-Hodgkin’s lymphoma and acute myeloid leukemia. Ambrx previously licensed the rights to develop and commercialize ARX305 in China to NovoCodex Pharmaceuticals Ltd. (NovoCodex).

"I am pleased with the milestones that we have reached on the development of antibody drug conjugates, marked by the filing and clearance of the IND application for ARX305, our third ADC program to reach this stage of development," said Feng Tian, Ph.D., Chairman of the Board, President, and CEO of Ambrx. "As we continue to explore potential indications for Ambrx’s proprietary ADC technology, the progression of ARX305 towards clinical trials targeting patients with various CD70 expressing tumors reinforces our confidence in the broad application of our platform."