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Drug discovery platform Exscientia files for a $100 million US IPO

On September 10, 2021 Exscientia, which provides an AI-driven platform for drug design, discovery, and development,reported that it filed on Friday with the SEC to raise up to $100 million (Press release, Exscientia, SEP 10, 2021, View Source [SID1234587596]).

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Exscientia states that it is an artificial intelligence-driven pharmatech company that aims to discover, design, and develop the best possible drugs in the fastest and most effective manner. The company has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection. The company states that it has originated the first three AI-designed precision drug candidates to enter human clinical trials. Its most advanced internally developed candidate, EXS21546, began a Phase 1 trial in December 2020. The other two candidates, which are being developed by its collaboration partner Sumitomo Dainippon Pharma, are also currently in Phase 1 trials. Exscientia has designed four additional candidates currently undergoing advanced profiling for submission of INDs; the company has more than 25 active projects in total.

The Oxford, United Kingdom-based company was founded in 2012 and booked $14 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol EXAI. Exscientia filed confidentially on June 21, 2021. Goldman Sachs, Morgan Stanley, BofA Securities, and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.

QUARTERLY REPORT 2nd QUARTER 2021

On September 10, 2021 Oncoinvent reported that Quarterly report Q2 2021 (Press release, Oncoinvent, SEP 10, 2021, https://www.oncoinvent.com/wp-content/uploads/Oncoinvent-Quarterly-report-Q2-2021.pdf [SID1234587581])

Highlights

• Secured NOK 250 mill. in an oversubscribed private placement
• The Safety and Monitoring Committee approved 7 MBq as recommended clinical dose for Radspherin in the ongoing RAD-18-002 phase 1 trial in patients suffering from colorectal cancer.
• The repeated dose cohort in the RAD-18-002 phase 1 trial has been completed. Operational review During the second quarter of 2021 Oncoinvent secured NOK 250 million in an oversubscribed private placement that was syndicated by existing investors Hadean Ventures, Geveran, RADFORSK Investeringsstiftelse, Sundt, Must Invest, Canica, MP Pensjon and Watrium.

The net proceeds from the Private Placement ensures financing past the end of 2023 for the lead product candidate Radspherin, including financing of two clinical phase 2A studies (in ovarian cancer and colorectal cancer). The funding will also allow the company to initiate preclinical development of proprietary antibodies OI-1 and OI-3 to further develop the pipeline of targeted radiotherapeutics one year earlier than originally planned. As previously announced in April 2021, Oncoinvent completed the recruitment of patients in the final dose level of the ongoing RAD-18-002 Phase 1 trial, in colorectal cancer patients suffering from peritoneal carcinomatosis.

The Safety and Monitoring Committee (SMC) concluded that the 7 MBq dose of Radspherin to be safe and it was recommended as the clinically relevant dose. During the second quarter the company has recruited patients to both the repeated dose cohort and expansion cohort. The repeated dose cohort has been completed and four of the six patients in the expansion cohort have been enrolled.

The company plans to complete enrollment of the entire RAD-18-002 colorectal cancer phase 1 study before the end of the third quarter.

During the second quarter of 2021 the company also enrolled patients for third dose level (4MBq) for the RAD-18-001 Phase 1 trial in platinum sensitive recurrent ovarian cancer patients suffering from peritoneal carcinomatosis. During this quarter the recruitment for the study has been slower than anticipated, and the company is currently taking steps to improve the enrollment going forward.

Financial review Oncoinvent had an EBITDA of minus NOK 17.4 mill. in the 2nd quarter of 2021, compared to minus NOK 12.8 in 2nd quarter of 2020. The operating expenses increased during the quarter and were NOK 18.3 mill. compared to NOK 15.7 mill. in 2020.

Furthermore, the company reported EBITDA of minus NOK 35.0 mill. for YTD compared to minus NOK 25.8 mill. in 2020 after reporting NOK 36.2 mill. in operating expenses compared to NOK 28.8 mill. in 2020. The increase reflects the progress in the ongoing clinical trials and are according to plan.

The company had NOK 79.5 million in cash and cash equivalents at the end of the quarter. With the closing of the private placement at the end of the quarter the company also have gross proceeds of NOK 250 mill. that falls due in July. After the private placement the number of common shares in the company are 19 147 215.

Medivir to present at the Wainwright Annual Global Investment Conference

On September 10, 2021 Medivir AB (NASDAQ Stockholm: MVIR) reported that the company will present at the virtual meeting H.C. Wainwright Annual Global Investment Conference, September 13-15 (Press release, Medivir, SEP 10, 2021, https://www.prnewswire.com/news-releases/medivir-to-present-at-the-wainwright-annual-global-investment-conference-301373196.html [SID1234587565]).

The presentation will be available through Medivir´s website; www.medivir.com.

More information about the event is available at the organizer’s website: View Source

AbbVie Declares Quarterly Dividend

On September 10, 2021 The board of directors of AbbVie Inc. (NYSE: ABBV) reported a quarterly cash dividend of $1.30 per share (Press release, AbbVie, SEP 10, 2021, View Source [SID1234587564]).

The cash dividend is payable November 15, 2021 to stockholders of record at the close of business on October 15, 2021.

Since the company’s inception in 2013, AbbVie has increased its dividend by 225 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

Kazia Therapeutics to Present at HC Wainwright 23rd Annual Global Investment Conference

On September 10, 2021 Kazia Therapeutics Limited (NASDAQ: KZIA; ASX: KZA), an oncology-focused drug development company, reported that CEO, Dr James Garner, will be presenting at the HC Wainwright 23rd Annual Global Investment Conference, to be held virtually from 13-15 September 2021 (Press release, Kazia Therapeutics, SEP 10, 2021, https://www.prnewswire.com/news-releases/kazia-therapeutics-to-present-at-hc-wainwright-23rd-annual-global-investment-conference-301373181.html [SID1234587563]).

The HC Wainwright Annual Global Investment Conference is one of the key events in the investor calendar and Kazia’s participation comes at an important time for the company. Kazia’s lead program, paxalisib, is currently in a pivotal study for glioblastoma, the most common and most aggressive form of brain cancer. If successful, paxalisib has the potential to become the first new drug treatment for newly diagnosed patients in almost twenty years, addressing a market worth US$ 1.5 billion per annum. More than 12,500 patients are diagnosed with glioblastoma each year, and the current standard of care treatment, temozolomide, is ineffective for approximately two-thirds of cases.

Dr Garner will provide an overview of Kazia’s key developments during FY2021, including:

Commencement of the GBM AGILE pivotal study for paxalisib in January 2021;
Out-licensing deal with Simcere Pharmaceutical for Greater China rights to paxalisib in March 2021, realizing an US$11 million upfront consideration;
Transformative in-licensing of EVT801 from Evotec, providing the company with a highly attractive second oncology asset.
Dr Garner will also share insights on Kazia’s objectives for FY2022 and outline the rich suite of catalysts that the company expects to announce during the remainder of CY2021.

This year’s HC Wainwright Annual Global Investment Conference will be conducted virtually from Monday 13th to Wednesday 15th and will feature more than 850 presenting companies, as well as a keynote presentation from Dr Scott Gottleib, former commissioner of the FDA.

Dr Garner commented, "Kazia’s presentation will be available to attendees on-demand, while the company will also meet individually with key investors and analysts over the duration of the conference to further advocate on behalf of the company’s compelling story."