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Eisai Announces Acquisition of Arteryex Shares (Making Arteryex a Subsidiary) to Strengthen and Rapidly Expand the Foundation of its Digital Solution Business

On April 1, 2022 Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") reported that Eisai has acquired a majority of the shares issued by Arteryex Inc. (Headquarters: Tokyo, CEO: Li Dongying, "Arteryex"), a company that plans and develops software related to digital solutions such as provision of medical information platforms, through purchase of shares and subscription of a third-party allocation of common shares, and made it a subsidiary, as of March 31, 2022 (Press release, Eisai, APR 1, 2022, View Source [SID1234611330]). The two companies will work together to develop and provide PHR (Personal Health Record)-related services for patients, healthcare professionals and society at large.

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Eisai launched its medium-term business plan "EWAY Future & Beyond" in April 2021, where the perspective to be shifted from that of patients to The People or each consumer. With "empowering The People to realize their fullest life" as the vision, Eisai delivers not only pharmaceutical products but also solutions to The People, by utilizing the latest digital technology such as AI, and aims to remove the anxiety of The People.

Arteryex has excellent software development capabilities and has developed its own PHR-related product services, including apps for storing and converting health-related information of patients undergoing treatment and a wide range of users into data, as well as apps for companies for employee health management.

Eisai aims to strengthen and rapidly expand its digital solution business base by acquiring Arteryex’s development capabilities and quality PHR products through the subsidiary acquisition. In addition to reaching a new customer segment of existing products, Eisai will promote developing products including new applications by utilizing Arteryex’s input technology and systems used in image data. Furthermore, Eisai will advance the utilization of data acquired through PHR-related products, as the entire Eisai Group, leveraging the data management know-how that Eisai has practiced in its medicine creation activities and disease awareness activities.

For building the Eisai Universal Platform (EUP), through those initiatives, Eisai will enhance creating a packaged solution, as well as strengthen its delivery infrastructure, for maintenance and improvement of health, prevention and disease awareness, and will expand its contribution to The People.

The current management team of Arteryex will remain after the conversion to a subsidiary. The acquisition by Eisai of Arteryex as a subsidiary will not have a material impact on the consolidated financial results of Arteryex.

CBC Group-backed Hasten Biopharma successfully completes acquisition of five cardiovascular and metabolism drugs from Takeda

On March 31, 2022 Hasten Biopharmaceutic Co., Ltd (China) ("Hasten") reported that it has acquired a portfolio of five prescription pharmaceutical products sold in China from Takeda Pharmaceutical Company Limited (Press release, Takeda, MAR 31, 2022, View Source [SID1234611388]). Hasten is funded by CBC Group ("CBC"), Asia’s largest healthcare-dedicated investment firm, Hefei Industry Investment Group, and Feidong County of Hefei City.

Under the terms of the acquisition, Hasten will acquire the Chinese Mainland-exclusive rights of Ebrantil, Edarbi, Basen, Blopress and Actos. Employees dedicated to the commercial support of these products will be transferred to Hasten, while Takeda will continue to manufacture the portfolio of products and supply them to Hasten.

"Hasten is dedicated to providing life-transforming treatments for patients in China. Acquiring the five innovative medicines gives Hasten a strong portfolio and a talented commercial workforce, taking it one step closer to becoming a leading biopharmaceutical company in China," Annie Lee, Chairman of the Board of Hasten and CBC Managing Director, said. "I look forward to welcoming our new colleagues from Takeda to Hasten and building on our combined expertise to fulfil unmet needs for patients with critical diabetic and heart conditions."

"This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia," Wei Fu, Chief Executive Officer of CBC, said. "CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy. We look forward to developing further synergy between our portfolio companies in our healthcare ecosystem to bring life-changing treatments to chronic disease patients."

CBC has built a robust global healthcare ecosystem, partnering with top healthcare entrepreneurs and companies to deliver innovative solutions and improve healthcare efficiency and quality since 2014. Its investor-operator strategy has led the group to complete 9 IPOs across its portfolio, with another 12 life sciences and medical technology companies currently under incubation. CBC has also built momentum expanding its geographical footprint in recent years, including by building RVAC Medicines in Singapore, Jadeite Medicines in Japan, and Ensem Therapeutics in the US. CBC will continue to leverage its strong team of investment, industry, and portfolio management professionals to enhance Hasten’s value and accelerate its growth.

CBC Group-backed Hasten Biopharma successfully completes acquisition of five cardiovascular and metabolism drugs from Takeda

National Pediatric Cancer Foundation Issues Call for Research Proposals – Total Value of $4.3 Million

On March 31, 2022 National Pediatric Cancer Foundation (NPCF) reported it is seeking research proposals as part of its 43 Challenge program, a national awareness and funding initiative aimed at making radical progress in pediatric cancer research (Press release, National Pediatric Cancer Foundation, MAR 31, 2022, View Source [SID1234611363]). In recognition of the 43 children diagnosed with cancer each day, NPCF is offering the $4.3 million research grant program – set to open on April 3 (4/3) – to medical, science, technology and corporate innovators and thought leaders with novel ideas to make progress in the fight against cancer among children. The best ideas will be selected and funded, ranging from $1 million to $4.3 million grants, in the name of improving the lives of children diagnosed with cancer.

"Our nation is known for tackling numerous challenges, including recent solutions for COVID, so now it’s time we focus on solutions for kids with cancer," said NPCF CEO David Frazer. "The National Pediatric Cancer Foundation is committed to quickly and significantly advancing research for pediatric cancer. We are seeking novel, innovative and collaborative research ideas that can improve treatment and save the lives of children."

NPCF is advocating for new solutions that promote significant advances in addressing pediatric cancer and therapies. The goal of the grant research program is to explore the possibility that an innovative proposal could possibly be found within another aspect of the medical, science or technology fields. Casting a wider net for this research opportunity offers a chance to explore fields which may have been previously overlooked with regard to cancer research.

NPCF’s main mission is funding research to eliminate childhood cancer, and the grant program is just one way it works to accomplish this. The organization desires science that is novel, can significantly improve the lives of children with cancer and/or makes radical progress against pediatric cancers within the next few years.

"As the grateful mother of a child who won her battle with cancer more than three decades ago, I’m emphatically committed to a future where no family has to face what we did," said Melissa Dunkel, Board Member, Emeritus Director and NPCF Co-Founder. "I commend the work advanced by the talented pediatric oncologists and scientists across the U.S., and I encourage researchers from all disciplines to help NPCF as we take a cutting-edge approach to tackle pediatric cancer."

Applications may come from one or more of the following fields and be submitted by individuals, multi-disciplinary teams, research institutions, healthcare providers or corporate partnerships:

Interested applicants may submit an LOI/ ABSTRACT from April 3-May 31, 2022. This abstract will be used to check eligibility and to initially interpret proposals to determine which projects will be asked to submit a full proposal. To submit an LOI/ ABSTRACT and for more details, visit nationalpcf.org/43challenge. The projects selected will then be invited to submit a single-page application and be interviewed by the NPCF / Selection Committee. Grant winner(s) will be announced Sept. 1, 2022.

Entry into a Material Definitive Agreement

On March 31, 2022 The Company reported that entered into an At Market Issuance Sales Agreement (the "Agreement") with Ladenburg Thalmann & Co. Inc. ("Ladenburg"). Under the Agreement, the Company may offer and sell its common stock, par value $0.001 per share, from time to time having an aggregate offering price of up to $25,000,000 (the "Shares") during the term of the Agreement through Ladenburg (Filing, 8-K, Tocagen, MAR 31, 2022, View Source [SID1234611354]). The Company has filed a prospectus supplement relating to the offer and sale of the Shares pursuant to the Agreement covering sales of up to $7,000,000 of Shares. The Shares will be issued pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-256611), which was initially filed with the Securities and Exchange Commission on May 28, 2021, and declared effective on June 7, 2021. The Company intends to use the net proceeds from the offering, if any, for general corporate purposes, including funding existing and potential new clinical programs.

The Company is not obligated to sell any Shares pursuant to the Agreement. Subject to the terms and conditions of the Agreement, Ladenburg will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of The Nasdaq Capital Market ("Nasdaq"), to sell Shares from time to time based upon the Company’s instructions, including any price, time or size limits or other customary parameters or conditions the Company may impose.

Under the Agreement, Ladenburg may sell Shares by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415 of the Securities Act of 1933, as amended, and the rules and regulations thereunder, including, without limitation, sales made directly on or through Nasdaq, on or through any other existing trading market for the Shares or to or through a market maker. If expressly authorized by the Company, Ladenburg may also sell Shares in negotiated transactions.

The Agreement will terminate upon the earlier of (i) the issuance and sale of all of the Shares through Ladenburg on the terms and subject to the conditions set forth in the Agreement or (ii) termination of the Agreement as otherwise permitted thereby. The Agreement may be terminated at any time by either party.

The Company has agreed to pay Ladenburg a commission equal to 3.0% of the gross proceeds from the sales of Shares pursuant to the Agreement and has agreed to provide Ladenburg with customary indemnification and contribution rights.

The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference. The Agreement contains representations and warranties that the parties made to, and solely for the benefit of, the other in the context of all of the terms and conditions of the Agreement and in the context of the specific relationship between the parties. The provisions of the Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to the Agreement and are not intended as a document for investors and the public to obtain factual information about the Company’s current state of affairs. Rather, investors and the public should look to other disclosures contained in the Company’s filings with the SEC.

The opinion of the Company’s counsel regarding the validity of the Shares that may be issued pursuant to the Agreement is filed herewith as Exhibit 5.1.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy Shares, nor shall there be any sale of the Shares 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.