2022 Q1 Report: Global Trends in Biopharma Transactions

On April 8, 2022 Locust Walk reported that deal team members compile key statistics and trends on strategic transactions and financings (Press release, Locust Walk Partners, APR 8, 2022, View Source;utm_medium=rss&utm_campaign=2022-q1-report [SID1234611662]). Our 2022 First Quarter Report applies the latest data to analyze current activities in the life sciences deal landscape.

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In this report you can find an overview and analysis of the following across the biopharma market in the US, Europe, and Asia (Japan and China):

Key performance indicators for the life science market​
IPO and private financing activity and performance​
Deal activity for strategic partnership and M&A
A look ahead and our predictions of the future
Biopharma Indices Summary

The biopharma indices continued their decline in 2022 against a backdrop of continued macroeconomic and political uncertainty, negative investor sentiment and rotation to more value-driven investments

2H 2021 saw the BTK and NBI underperform relative to the S&P by ~18% and ~10%, respectively
At the conclusion of Q1 2022, the BTK (~-8%) and NBI (~-12%) continued to underperform
While biopharma indices stumbled, the S&P remained relatively steady over the past 12 months and outperformed the BTK and NBI by ~21% and ~26%, respectively
With the highest inflation rate in decades and the likely increase in interest rate from the Federal Reserve, generalist capital is exiting biotech in search of more conservative sectors
With the recent downturn in public markets, biotech investors have begun to shift their public portfolios in favor of later clinical-stage companies with near-term newsflow, and away from earlier-stage preclinical companies which had received much of the attention during the biotech boom of the last 24 months
Increased M&A in 2022 may provide a catalyst for renewed sector interest

Following the record number of biotech IPOs in 2021, many public biotech companies have the cash on hand to pursue M&A with depressed valuations
However, it may take several more months before those valuations reach a level that sparks the anticipated wave of M&A
Locust Walk has seen increased seller interest in exploring strategic options

Delcath Systems to Participate in the Canaccord Genuity Horizons in Oncology Conference

On April 8, 2022 Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, reported that it will participate in the Canaccord Genuity Horizons in Oncology Conference (Press release, Delcath Systems, APR 8, 2022, View Source [SID1234611661]):

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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Date: April 14, 2022 at 3:00 PM ET
Format: Fireside Chat
Webcast link: View Source
Management will be participating in virtual one-on-one meetings throughout the event. To arrange a meeting with management, please contact your conference representative or [email protected].

BeyondSpring to Announce Fourth Quarter and Year End 2021 Financial Results and Host a Conference Call on Thursday, April 14, 2022

On April 08, 2022 BeyondSpring Inc. (the "Company" or "BeyondSpring") (NASDAQ: BYSI), a global biopharmaceutical company focused on the development of innovative cancer therapies, reported that it will report its financial results for the quarter and year ended December 31, 2021 before market open on Thursday, April 14, 2022 (Press release, BeyondSpring Pharmaceuticals, APR 8, 2022, View Source;utm_medium=rss&utm_campaign=beyondspring-to-announce-fourth-quarter-and-year-end-2021-financial-results-and-host-a-conference-call-on-thursday-april-14-2022 [SID1234611660]). Management will also host a conference call with investors to discuss financial results and provide a corporate update at 8:00 am Eastern Time.

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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ITI Reports Preclinical Data on Its MCP?V-LT and Her2/Neu DNA Vaccines at AACR 2022

On April 8, 2022 Immunomic Therapeutics, Inc., ("ITI"), a privately-held clinical-stage biotechnology company pioneering the study of LAMP-mediated nucleic acid-based immunotherapy, reported that the data from two posters are being presented at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2022 held in New Orleans, Louisiana, from April 8-13 (Press release, Immunomic Therapeutics, APR 8, 2022, View Source [SID1234611657]). These posters to be presented at the AACR (Free AACR Whitepaper) Meeting focus on the investigational nucleic acid platform, UNITE (UNiversal Intracellular Targeted Expression) for two vaccines, ITI-3000 for Merkel cell carcinoma (targeting the large T antigen of the Merkel cell polyomavirus) and Her2/Neu-LAMP DNA vaccine, both of which fuse a tumor associated antigen with lysosomal associated membrane protein 1 (LAMP-1). This proprietary lysosomal targeting technology results in enhanced antigen presentation and a balanced T cell response.

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The posters are accessible on the "Posters" section of Immunomic Therapeutics’ website at: View Source

Highlights from the presentations are as follows:

Poster Number: 10

Title: "LAMP1 targeting of the large T antigen of Merkel cell polyomavirus elicits potent CD4+ T cell responses, tumor inhibition, and provides rationale for first-in-human trial"

Authors: Claire Buchta Rosean, PhD1; David M. Koelle, MD2; Paul Nghiem, MD, PhD3, Mohan Karkada, PhD1, Teri Heiland, PhD1

1Immunomic Therapeutics Inc., Rockville, MD, USA 2Department of Medicine/Division of Allergy and Infectious Diseases, University of Washington, Seattle, WA, USA 3Department of Medicine, Department of Dermatology, University of Washington, Seattle, WA, USA

This presentation reports results of pre-clinical mouse studies of a cancer vaccine that promotes potent, antigen-specific CD4 T cell responses to MCPγV-LT. The majority of Merkel cell carcinomas (MCC), a rare and highly aggressive type of neuroendocrine skin cancer, are associated with Merkel cell polyomavirus (MCPyV) infection. MCPyV integrates into the host genome, resulting in expression of a truncated form of the viral large T antigen (LT) in infected cells, and makes LT an attractive target for therapeutic cancer vaccines.
To activate antigen-specific CD4 T cells in vivo, the investigators utilized the nucleic acid vaccine platform, UNITE (UNiversal Intracellular Targeted Expression), which fuses a tumor-associated antigen with lysosomal-associated membrane protein 1 (LAMP1). LTS220A, encoding a mutated form of MCPγV-LT that diminishes its pro-oncogenic properties, was introduced into the UNITE platform. Mice were vaccinated with 40µg of ITI-3000 or control vector via intradermal injection and electroporation. A B16F10 melanoma line stably transduced to express LTS220A (B16-LT) was injected subcutaneously in the right flank.
Vaccination with LTS220A-UNITE (ITI-3000) induced antigen-specific CD4 Th1 cells that was associated with delayed tumor growth and enhanced survival in treated mice in both the prophylactic and therapeutic settings. This effect was dependent on the CD4 T cells ability to produce IFNγ (interferon gamma), suggesting the potential mechanism of action of ITI-3000. In addition, ITI-3000 induced changes in the tumor microenvironment, including increased numbers of CD4 and CD8 T cells, reduced frequency of myeloid cells, and enhanced pro-inflammatory cytokine production.
Poster Number: 3

Title: "Harnessing soluble CD40L to enhance anti-tumor efficacy of Her2-LAMP DNA vaccine using UNITE platform"

Authors: Wei Shen1, Renhuan Xu2, Yun-Ting Kao1, Mohan Karkada1, and Teri Heiland1

1Immunomic Therapeutics, 15010 Broschart Road, Rockville, MD 20850 2ARV-Tech, Rockville, MD 20852

This presentation reports results of preclinical mouse studies on a HER2/Neu-LAMP DNA vaccine that included a bicistronic DNA construct in which both the tumor antigen (HER2) fused with LAMP-1 (lysosomal- associated membrane protein 1) and sCD40L were expressed separately. CD40 ligand (CD40L; CD154) is a transmembrane protein expressed on the surface of activated T cells, particularly on CD4 T cells, which stimulates CD40-dependent activation of antigen-presenting cells (APCs), resulting in enhancement of T cell and antibody responses.
To elicit cellular and humoral responses, the investigators employed the proprietary UNITE (UNiversal Intracellular Targeted Expression)-VAX platform, which utilizes a plasmid DNA expressing TAAs and LAMP to deliver TAAs to the MHC II compartment, thus potentially enhancing both antibody generation and CD4+ T cell response. Mice were immunized intradermally with 20µg of control vector, HER2-LAMP, or bicistronic-HER2-LAMP-sCD40L.
Vaccination with HER2-LAMP-sCD40L was associated with the detection of soluble forms of CD40L in the supernatant of HER2-LAMP-sCD40L transfected 293T cells: this soluble CD40L may function to enhance vaccine immunogenicity. The HER2-LAMP-sCD40L DNA vaccine elicited a robust HER2- specific cellular and humoral response; of note, CD4 T cells were elevated as compared with CD8 T cells, suggesting that sCD40L preferentially acts on CD4 T cells in vivo. The HER2-LAMP-sCD40L DNA vaccine exhibited significant antitumor effect in a murine breast tumor model.
"Based on these preclinical findings, we are planning a first-in-human Phase 1 open-label study to evaluate the safety, tolerability, and immunogenicity of ITI-3000 in Merkel cell carcinoma patients," stated Dr. William Hearl, Chief Executive Officer of Immunomic Therapeutics. "This study will be our second clinical study utilizing our proprietary nucleic acid vaccine platform UNITE and underscores the potential for our platform to design and introduce novel cancer vaccines for hard-to-treat cancers."

"We are highly encouraged by the data from the preclinical development for Her2-LAMP-sCD40L vaccine," stated Teri Heiland, PhD, Chief Scientific Officer of Immunomic Therapeutics. "The prolonged survival noted in the murine model suggests that this novel bicistronic vaccine may be an effective strategy to promote anti-tumor efficacy in vivo for multiple HER2-expressing cancer types."

About UNITE

ITI’s investigational UNITE platform, UNiversal Intracellular Targeted Expression, leverages the ability to engineer chimeric proteins, directing antigen presenting cells to present antigens to the immune system through a targeted pathway and driving a robust immune response. UNITE vaccines are distinct in that they combine two components: nucleic acid constructs that encode a specific antigen and an endogenous Lysosomal Associated Membrane Protein (LAMP-1) sequence. The UNITE platform harnesses LAMP-1 as a means of presenting the vaccine target to the immune system, resulting in antibody production, inflammatory cytokine release, and establishing critical immunological memory, something that other vaccine approaches commonly lack. This approach could put UNITE technology at the crossroads of immunotherapies in multiple indications, including cancer, human allergy, animal health, and infectious disease. Preclinical data is currently being developed to explore whether LAMP-1 nucleic acid constructs may amplify and activate the immune response in highly immunogenic tumor types and used to create immune responses in tumor types that otherwise do not provoke an immune response.

Nkarta to Participate at Upcoming Investor Conference

On April 8, 2022 Nkarta, Inc. (Nasdaq: NKTX), a biopharmaceutical company developing engineered natural killer (NK) cell therapies to treat cancer, reported its participation at an upcoming investor conference (Press release, Nkarta, APR 8, 2022, View Source [SID1234611651]):

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21st Annual Needham Virtual Healthcare Conference
April 12, 2022
4:30 p.m. ET – presentation

A simultaneous webcast of the event will be available on the Investors section of Nkarta’s website, www.nkartatx.com, and a replay will be archived on the website for approximately four weeks.