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i2020 Accelerator Announces the Launch of Gwynant Therapeutics and Celyn Therapeutics to Develop Novel Small Molecules for Oncology Targets

On September 14, 2021 i2020, an accelerator program backed by the San Diego-based venture company Torrey Pines Investment, reported two new start-up investments together with OrbiMed Advisors (Press release, i2020 Accelerator, SEP 14, 2021, View Source [SID1234587795]). The start-up proceeds will finance new oncology-focused companies: Gwynant Therapeutics and Celyn Therapeutics. The companies will use the proceeds to bring proprietary small molecule products to the clinic targeting cancer. With this new financing, the partners continue to build a robust innovative asset pipeline focused on breakthrough drug targets. The new investment from i2020 and OrbiMed brings the total funding for 9 companies in the Loch platform to over $68.5 million. The Loch platform aims to rationally design and develop novel targeted treatments for cancer, immunological and neurodegenerative diseases.

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In connection with the financing, Carl Gordon and Iain Dukes from OrbiMed, Nikolay Savchuk from Torrey Pines Investment and Augustine Lawlor from Health Care Ventures have joined the Boards of Gwynant and Celyn Therapeutics.

The Loch platform and its programs are supported by the AI and computer aided drug design of Molsoft LLC and ChemDiv Inc., San Diego, CA, as well as other research partners from i2020 Accelerator’s global network.

Nucleai and Jefferson Health Launch a Strategic Collaboration to Discover Novel Spatial Immunotherapy Biomarkers Utilizing Nucleai’s Spatial Biology Platform

On September 14, 2021 Nucleai, a leader in AI-powered spatial biology, and Jefferson Health, a leading cancer center, reported that they have entered into a strategic collaboration to discover spatial immunotherapy biomarkers, leveraging Nucleai’s ATOM platform and Jefferson’s repository of pathology and clinical data (Press release, Nucleai, SEP 14, 2021, View Source [SID1234587793]). The mutual collaboration will help advance AI-based solutions in discovering histological biomarkers and patient selection in clinical trials and clinical settings. The Israeli Innovation Authority supports the collaboration as part of the International Health-Tech Pilot Program.

Nucleai’s ATOM platform analyzes pathology images using computer vision and machine learning methods to model the tumor and the immune system’s spatial characteristics, creating unique and specific histological biomarkers that may predict patient response to therapy. These biomarkers hold the potential to provide a better understanding of cancer biology, enable further stratification of responder/non-responder patient populations, and improve the success rate of clinical trials and patient care. Nucleai leverages proprietary multimodal datasets of pathology images and clinical data from leading hospitals and Health Maintenance Organizations (HMOs) in the U.S and Israel to develop its platform.

As part of the collaboration between Nucleai and Jefferson, the two parties will test the utility of AI-based predictive biomarkers in a real-world clinical setting and assess the clinical benefit that the novel platform could provide for cancer patients treated with immunotherapy.

"It is now clear that analysis of digital pathology through computational approaches opens access to "hidden" information that is beyond the resolution of a pathologist’s examination through a microscope. We look forward to working with Nucleai to "unlock" such information to learn new disease mechanisms and using it to help our patients," said Stephen Peiper, Peter A. Herbut Professor and Chair Department of Pathology, Anatomy and Cell Biology at Thomas Jefferson University and Senior Vice President for the Enterprise Pathology and Laboratory Medicine Service Line of Jefferson Health System.

"Jefferson is dedicated to providing the highest-quality, compassionate clinical care for patients, preparing tomorrow’s professional leaders for 21st century careers, and discovering new treatments to define the future of care. The collaboration with Nucleai epitomizes this vision," said Zvi Grunwald, the Director of the Jefferson Israel Center.

"We are thrilled to launch this collaboration with Jefferson Health and are honored to be included in the Israeli Innovation Authority pilot program. Nucleai brings a unique spatial biology perspective into precision medicine, and we are eager to apply our platform to support novel biomarker discovery, diagnostics development, and clinical decision support," Nucleai CEO Avi Veidman said in a statement.

Allarity Therapeutics Receives Approximately SEK 16.5 Million (US $1.9 Million) from Subscription to Warrants of Series ALLR TO 3

On September 14, 2021 Allarity Therapeutics A/S ("Allarity" or the "Company") reported the outcome of the exercise of the warrants of series ALLR TO 3 that were issued in connection with the Company’s issue of units in June 2021 (Press release, Allarity Therapeutics, SEP 14, 2021, View Source [SID1234587747]). In total, 9,719,266 warrants of series TO 3 were exercised, corresponding to approximately 6.7 percent of the total number of outstanding warrants, for subscription of 9,719,266 shares at a subscription price of SEK 1.7 per share. Through the exercise of the warrants, Allarity will receive approximately SEK 16.5 million (U.S. $1.9 million) before issuing costs amounting to approximately SEK 1.8 million.

Chairman of Allarity’s Board of Directors Duncan Moore (who exercised 283,407 warrants) and the Company’s largest shareholder, Sass & Larsen ApS, were among the subscribers.

The exercise period for the warrants of series TO 3 took place from August 30 up to and including September 13, 2021. The accelerated exercise period was established, as previously announced, due to the Board of Directors’ determination that it was in the best interest of all shareholders as part of the Company’s plan to move to the U.S. Nasdaq stock market and to meet the requirements of the previously announced U.S. $20 Million recapitalization investment with 3i LP (New York).

Exercised warrants will be replaced with interim shares, pending registration with the Danish Business Authority. The interim shares are expected to be converted to shares within approximately two (2) weeks. Through the exercise, the number of shares in the Company increase from 390.063.114 shares to 399.782.380 shares, and the share capital increase by DKK 485,963.3, from DKK 19.503.155,70 to DKK 19,989,119.00.

Steve Carchedi, CEO of Allarity, commented, "I am pleased that our Company has completed the exercise of series TO 3 warrants, as this step is to secure our foundational investment by 3i LP and will support our migration to the U.S. Nasdaq stock market, which I believe will enable us to unlock the true value of our Company."

Checkmate Pharmaceuticals to Present at the Cantor Virtual Global Healthcare Conference

On September 14, 2021 Checkmate Pharmaceuticals Inc. (NASDAQ: CMPI) ("Checkmate"), a clinical stage biopharmaceutical company focused on developing its proprietary technology to harness the power of the immune system to combat cancer, reported that Barry Labinger, CEO, will present at the Cantor Virtual Global Healthcare Conference on Thursday, September 30 from 10:40-11:10am ET (Press release, Checkmate Pharmaceuticals, SEP 14, 2021, View Source [SID1234587746]). Checkmate will also host 1×1 investor meetings during the conference.

The webcast can be accessed under "Events & Presentations" in the Investors section of the Checkmate website. An archived copy of the webcast will be available on the Checkmate website for approximately 90 days after the event.

Avalo Therapeutics, Inc. Announces Proposed Public Offering of Common Stock

On September 14, 2021 Avalo Therapeutics, Inc. ("Avalo" or the "Company") (Nasdaq: AVTX), a leading clinical-stage precision medicine company that discovers, develops, and commercializes targeted therapeutics for patients with significant unmet clinical need in immunology, immuno-oncology, and rare genetic diseases, reported that it intends to offer for sale shares of its common stock in an underwritten public offering (Press release, Avalo Therapeutics, SEP 14, 2021, View Source [SID1234587735]). Avalo intends to grant the underwriters a 30-day option to purchase additional shares of its common stock sold in the proposed offering of up to 15% of the aggregate number of shares of common stock. All of the shares of common stock will be offered by Avalo. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering.
Avalo intends to use the net proceeds of the offering for working capital and other general corporate purposes.

This offering by Avalo is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254000), previously filed with the U.S. Securities and Exchange Commission (the "SEC") on March 8, 2021 and declared effective by the SEC on March 19, 2021, and the accompanying prospectus contained therein. The offering of the shares of common stock will be made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC, and will be available on the SEC’s website at View Source or by contacting Jefferies LLC at 520 Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by e-mail at [email protected] or by calling (877) 547-6340; and RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098 or by telephone at 877-822-4089 or by email at [email protected].

Before investing in the offering, you should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that Avalo has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about Avalo and the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the shares of common stock described herein, nor shall there be any sale of these shares of common stock 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.