Rocket Pharmaceuticals Announces $26.4 Million Private Placement

On August 30, 2021 Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT), a clinical-stage company advancing an integrated and sustainable pipeline of genetic therapies for rare childhood disorders, reported a securities purchase agreement with a fund affiliated with RTW Investments, LP, the Company’s largest shareholder, for the purchase of an aggregate of 812,516 shares of common stock, par value $0.01 per share, at a purchase price of $32.48 per share, the closing price on August 27, 2021, for aggregate gross proceeds of approximately $26.4 million to the Company before offering expenses (Press release, Rocket Pharmaceuticals, AUG 30, 2021, View Source [SID1234587006]). The private placement is expected to close on or about August 31, 2021, subject to the satisfaction of customary closing conditions. Rocket expects to use the net proceeds from the private placement to continue to advance and expand its pipeline of product candidates, for research and development expenses and for working capital.

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The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the "SEC") registering the resale of the common shares issued in the private placement upon the purchasers’ request.

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 offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.

Quest Diagnostics to Speak at the Morgan Stanley 19th Annual Global Healthcare Conference

On August 30, 2021 Quest Diagnostics Incorporated (NYSE: DGX), the world’s leading provider of diagnostic information services, reported that it is scheduled to speak at the Morgan Stanley 19th Annual Global Healthcare Conference (Press release, Quest Diagnostics, AUG 30, 2021, View Source [SID1234587005]). Steve Rusckowski, Chairman, CEO and President and Jim Davis, Executive Vice President, General Diagnostics will discuss the company’s vision, goals and two-point strategy to accelerate growth and drive operational excellence, as well as the company’s current perspective on the impact of the COVID-19 pandemic. The presentation is scheduled for Thursday, September 9, 2021, at 9:30 a.m. Eastern Time.

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The presentation will be webcast live during the conference and will be available on the company’s investor relations page which can be accessed at ir.QuestDiagnostics.com. In addition, the archived webcast will be available within 24 hours after the conclusion of the live event and will remain available until October 9, 2021.

OPKO Health to Participate in Two Upcoming Investment Conferences

On August 30, 2021 OPKO Health, Inc. (NASDAQ: OPK) reported that management will be participating in two upcoming virtual investor conferences (Press release, Opko Health, AUG 30, 2021, View Source [SID1234587004]).

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14th Annual Barrington Research Fall Conference, September 9, 2021. Management will be available for one-on-one and small-group virtual meetings with investors during the event.

H.C. Wainwright 23rd Annual Global Investment Conference, September 13-15, 2021. Management will participate in a fireside chat and will be available for one-on-one virtual meetings with investors. The recorded fireside chat will be available on demand beginning Monday, September 13th on the Investors section of OPKO Health’s website.

Novartis sabatolimab receives orphan drug designation from the European Commission for myelodysplastic syndromes

On August 30, 2021 Novartis reported that the European Commission (EC) has granted orphan drug designation to sabatolimab (MBG453) for the treatment of myelodysplastic syndromes (MDS), based on clinical data showing a high rate of responses in patients with high-risk MDS who were treated with sabatolimab in combination with hypomethylating agents (HMAs) (Press release, Novartis, AUG 30, 2021, View Source [SID1234587003]). The decision follows a positive opinion from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA)1.

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MDS are a group of rare and often underdiagnosed blood cancers characterized by two major components, a dysfunctional immune system and leukemic stem cell proliferation, which limits the ability of current treatment options to achieve durable responses2-4.
Patients with MDS face the possibility of poor outcomes with a limited duration of response and a median overall survival rate of less than two years despite treatment with the current standard of care5,6.
Sabatolimab is an investigational, potential first-in-class immuno-myeloid therapy that binds to TIM-3, a novel target expressed on immune and leukemic cells, but not on normal hematopoietic stem cells. It is in development for the treatment of higher-risk MDS and acute myeloid leukemia (AML). Targeting TIM-3 reawakens the immune system to selectively attack leukemic stem cells, the source of MDS/AML, and has the potential to safely deliver a durable response7,8.
Orphan drug designation is reserved for medicines that treat, prevent or diagnose a life-threatening or chronically debilitating rare disease with a prevalence in the EU of below 5 in 10,000 and with either no currently approved method of diagnosis, prevention or treatment or with significant benefit to those affected by the disease9. At the time of the EMA’s evaluation of the marketing authorization application for sabatolimab, the COMP will determine whether the orphan designation can be maintained based on an analysis of available data1.

The EC decision follows the US Food and Drug Administration’s fast track designation for sabatolimab in May 2021, for the treatment of adult patients with MDS defined with an IPSS-R risk category of high- or very high-risk in combination with HMAs1.

Ligand’s Partner Gloria Biosciences Receives Approval in China for Zimberelimab for the Treatment of Recurrent or Refractory Classical Hodgkin’s Lymphoma

On August 30, 2021 Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) reported that its partner Gloria Biosciences (GloriaBio) has received approval from China’s National Medical Products Administration (NMPA) for zimberelimab (GLS-010), an OmniAb-derived anti-PD-1 monoclonal antibody for the treatment of recurrent or refractory classical Hodgkin’s lymphoma (cHL) (Press release, Ligand, AUG 30, 2021, View Source [SID1234587002]). GloriaBio has development and commercialization rights in China with respect to zimberelimab through a sublicense agreement with Ligand’s licensee Wuxi Biologics Ireland Limited.

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Zimberelimab is a fully human monoclonal antibody that belongs to a class of immuno-oncology agents known as immune checkpoint inhibitors. It is designed to bind to PD-1, a cell surface receptor that plays an important role in the downregulation of the immune system by preventing the activation of T cells. Other anti-PD-1 antibodies have been approved by the U.S. FDA in multiple cancer types. In addition to cHL, GloriaBio is investigating zimberelimab in advanced solid tumors and in March 2021 was granted Breakthrough Therapy Designation for the treatment of patients with recurrent or metastatic cervical cancer in China. Zimberelimab is being developed by Arcus Bioscience in North America, Europe, Japan and certain other territories through a 2017 license agreement.

"We are delighted to see GloriaBio’s progress with zimberelimab including receipt of NMPA approval. When we acquired the OmniAb technology in 2016, there were no OmniAb-derived antibodies in the clinic. GloriaBio’s approval just five years after our acquisition and just four years after they entered the clinic is truly impressive," said John Higgins, CEO Ligand Pharmaceuticals. "Approval of this OmniAb-derived antibody represents the first of many regulatory events we expect over the coming years from what we believe is the industry’s best-in-class antibody discovery engine. Indeed, this is our biggest year ever for regulatory approvals for our partnered products."

About Zimberelimab

Zimberelimab is a fully human monoclonal antibody that binds to PD-1, restoring the antitumor activity of T cells. GloriaBio contracted with Ligand’s partner WuXi Biologics to discover and develop GLS-010 using Ligand’s transgenic rat platform, OmniRat. WuXi and GloriaBio subsequently out-licensed zimberelimab rights to Arcus, excluding China and certain other territories. Arcus, in collaboration with Gilead Sciences, is conducting multiple Phase 1 and Phase 2 trials to evaluate the safety and tolerability of zimberelimab in subjects with prostate, colorectal, non-small cell lung (NSCLC), pancreatic, triple-negative breast and renal cell cancers. A Phase 3 trial was initiated in 2021 to evaluate zimberelimab monotherapy or in combination with Arcus’ anti-TIGIT antibody (AB154) in patients with PD-L1-positive locally advanced or metastatic NSCLC.

In a Phase 2 study in Chinese patients with relapsed and refractory cHL zimberelimab showed impressive preliminary efficacy and a manageable safety profile, with an overall response rate of 90.6%, a 6-month progression-free survival rate of 88.2% and treatment-related adverse events (TRAEs) of mostly grade 1-2; most immune-related adverse events were grade 1-2 and did not limit treatment.1 In a Phase 2 study in Chinese patients with recurrent or metastatic cervical cancer zimberelimab also showed TRAEs of mostly grade 1-2.2 Zimberelimab also demonstrated encouraging therapeutic activity and manageable safety profile in Chinese patients with relapsed or refractory cHL and recurrent or metastatic cervical cancer, and could be a new safe and effective treatment option. GloriaBio has received approval in China for zimberelimab for the treatment of recurrent or refractory cHL. Under the terms of Ligand’s agreement with WuXi, Ligand is entitled to royalties on future product sales.

About OmniAb

The OmniAb antibody discovery platform provides Ligand’s biopharmaceutical partners access to the world’s most advanced antibody repertoires and screening technologies to enable unparalleled discovery of next-generation therapeutics. At the heart of the OmniAb platform is the Biological Intelligence (BI) of proprietary transgenic animals, including OmniRat, OmniChicken and OmniMouse, each capable of generating high-quality, fully human antibodies that have been naturally optimized through in vivo affinity maturation. OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur features unique structural attributes of cow antibodies for complex targets. OmniAb animals comprise the most diverse host systems available in the industry and are optimally leveraged through AI-enhanced antigen design and immunization methods, paired with high-throughput microfluidic-based single B cell screening and deep computational analysis of next-generation sequencing datasets to identify fully human antibodies with superior performance and developability characteristics. The OmniAb suite of technologies and differentiating AI and BI features are combined to offer a highly efficient and customizable end-to-end solution for the growing antibody discovery needs of the global biopharmaceutical industry.