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Agios Shareholders Approve Sale of Oncology Business to Servier

On March 25, 2021 Agios Pharmaceuticals, Inc. (NASDAQ: AGIO), a leader in the field of cellular metabolism to treat genetically defined diseases, reported that its shareholders voted to approve the previously disclosed sale of its commercial, clinical and research-stage oncology portfolio to Servier Pharmaceuticals, LLC, an independent global pharmaceutical company (Press release, Agios Pharmaceuticals, MAR 25, 2021, View Source [SID1234577141]).

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Approximately 99.9% of the shares voted at the Special Meeting, representing approximately 90% of the outstanding shares entitled to vote, were voted in favor of the transaction. Agios will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.

Agios expects the close of the transaction to occur around March 31, 2021, subject to the satisfaction of customary closing conditions.

Agios also announced that its board of directors authorized the repurchase of up to $1.2 billion of its outstanding shares after the close of the transaction. Agios expects to conduct the share repurchases over the next 12-18 months, including executing a meaningful portion of the planned repurchases by year-end through a combination of 10b5-1 plans, open market purchases and potentially privately negotiated block sales.

Neurocrine Biosciences to Present at Stifel 3rd Annual CNS Day

On March 25, 2021 Neurocrine Biosciences, Inc. (Nasdaq: NBIX) reported that it will present at the Stifel 3rd Annual CNS Day at 12:30 p.m. Eastern Time on Thursday Apr. 1, 2021 (Press release, Neurocrine Biosciences, MAR 25, 2021, View Source [SID1234577140]). Eiry Roberts, Chief Medical Officer, and Kyle Gano, Chief Business Development and Strategy Officer, will present at the conference.

The live presentation will be webcast and may be accessed on the Company’s website under Investors at www.neurocrine.com. A replay of the presentation will be available on the website approximately one hour after the conclusion of the events and will be archived for approximately one month.

Upstate researcher lands five-year NIH grant for $2.2 million to study proteins linked to cancer

On March 25, 2021 An Upstate Medical University researcher and professor reported that it has received a five-year $2.2 million grant from the National Institutes of Health to study the chaperone code, which plays an important role in cancer and neurodegenerative diseases (Press release, SUNY Upstate, MAR 25, 2021, View Source [SID1234577139])

Mehdi Mollapour, PhD, vice chair for translational research for the department of urology, received a highly prestigious Maximizing Investigators’ Research Award (MIRA or R35) award from the National Institute of General Medical Sciences (NIGMS), which is part of NIH. The $2.2 million, five-year MIRA/R35 grant focuses on decrypting the chaperone code. Mollapour, a professor of urology, biochemistry and molecular biology, has studied the chaperone code for nearly 20 years.

The MIRA program supports investigators’ overall research programs through a single, unified grant rather than individual project grants. The goal is to provide investigators with greater stability and flexibility, thereby enhancing scientific productivity and the chances for important breakthroughs.

Mollapour’s work for the past two decades has been aimed at understanding and deciphering the chaperone code. Molecular chaperones are a group of proteins that are involved in looking after other proteins that play an essential role in health and maladies, such as cancer and neurodegenerative diseases. One such chaperone, Hsp90, is a guardian of cancer that can be targeted by small molecule inhibitors. These drugs are currently being evaluated in Phase III clinical trials in cancer patients.

"While the genetic code specifies how DNA makes proteins, the chaperone code controls how proteins are folded to produce a functional proteome," Mollapour said. "Deciphering or cracking the code is important in understanding how chaperones work in normal cells as well as cancer cells. It will also allow us to improve the efficacy of chaperone drugs (Hsp90 drugs) in treating cancer patients."

Mollapour credits the work of everyone in his lab as well as department leadership for help obtaining this grant. "This kind of work is only possible in a department like ours because Gennady Bratslavsky, MD, the chair of Urology, has created a research environment that allows us to conduct high-level research." The Journal of Biological Chemistry recently published an invited review by Mollapour on this subject.

In 2020, Mollapour and his colleague, Dimitra Bourboulia, PhD, an assistant professor of urology, biochemistry and molecular biology at Upstate, and Andrew Truman, assistant professor at the University of North Carolina at Charlotte, organized a first-ever International Symposium on The Chaperone Code. The event was held virtually and more information can be found here: www.chaperonecode.com/past-meetings.

"Because of the COVID-19 pandemic we were forced to hold this meeting virtually, but the good news was that we had more than 300 attendees," he said. "We also have a speaker every month presenting their research via webinar. This is exciting as the chaperone code has attracted so many researchers."

Thu, 25 Mar, 2021, 18:00 – English – Diamyd Medical AB intends to carry out a directed share issue of B-shares

On March 25, 2021 Diamyd Medical reported its intention to carry out a directed new share issue corresponding to a value of approximately SEK 60 million, directed at qualified investors, with deviation from existing shareholders’ preferential rights, based on the authorisation granted by the Annual General Meeting held on 26 November 2020 (the "Directed Share Issue") (Press release, Diamyd Medical, MAR 25, 2021, View Source;ClipID=3928930 [SID1234577138]). Diamyd Medical has engaged G&W Fondkommission to investigate the possibilities to conduct the Directed Share Issue.

The subscription price for the new shares in the Directed Share Issue is to be determined through an accelerated bookbuilding procedure, which will begin immediately after the announcement of this press release. The Directed Share Issue is contingent on a resolution by the Board of directors, which, alongside pricing and allocation of shares, is expected to occur prior the commencement of trading on Nasdaq First North Growth Market on 26 March 2021. The Board of directors may at any time choose to cancel the bookbuilding procedure, close earlier or later and refrain from executing the Directed Share Issue, in part of in full.

The proceeds from the Directed Share Issue will be used for a pivotal Phase 3 trial with the diabetes vaccine Diamyd. The study is designed to confirm the efficacy and safety of Diamyd in individuals recently diagnosed with type 1 diabetes that carry the genetic HLA haplotype DR3-DQ2. Approximately 330 patients will be recruited for the study and the trial will be carried out at approximately 50 clinics in Europe and in the United States.

The reason for the deviation from the shareholders’ preferential rights is to perform a capital raise in a time and cost-effective manner and to raise capital at favorable conditions for the Company’s continued expansion, as well as to diversify the shareholder base with institutional investors.

Adviser
G&W Fondkommission has been appointed Financial adviser in connection with the Directed Share Issue. Aktieinvest FK AB is the issuing agent.

Roche commences tender offer for all shares of GenMark Diagnostics, Inc. for $24.05 per share in cash

On March 25, 2021 Roche (SIX: RO, ROG; OTCQX: RHHBY) reported that it has commenced a cash tender offer for all of the outstanding shares of common stock of GenMark Diagnostics, Inc. (NASDAQ: GNMK) at a price of $24.05 per share (Press release, Hoffmann-La Roche, MAR 25, 2021, View Source [SID1234577137]). The tender offer is being made pursuant to the previously announced merger agreement dated as of March 12, 2021 among Roche Holdings, Inc., an indirect wholly owned subsidiary of Roche Holding Ltd, Geronimo Acquisition Corp., a wholly owned subsidiary of Roche Holdings, Inc., and GenMark.

The tender offer period will expire at 12:00 midnight, Eastern Time, at the end of the day on Wednesday, April 21, 2021, unless the offer is extended.

Roche has filed a tender offer statement on Schedule TO with the United States Securities and Exchange Commission (SEC). Geronimo Acquisition Corp. is the acquirer in the tender offer. The Offer to Purchase contained within the Schedule TO sets out the terms and conditions of the tender offer.

GenMark has also filed a Solicitation/Recommendation Statement with the SEC on Schedule 14D-9, which includes the unanimous recommendation of the GenMark board of directors that GenMark stockholders tender their shares in the tender offer. Closing of the tender offer is conditioned upon customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and there being validly tendered and not validly withdrawn a majority of the outstanding shares of GenMark common stock. The offer is not subject to any financing condition. Following successful completion of the tender offer, any shares not acquired in the tender offer will be acquired in a second step merger at the same price of $24.05 per share. The closing of the transaction is expected to take place in the second quarter of 2021.

The complete terms and conditions are set out in the Offer to Purchase, which was filed with the SEC today, March 25, 2021. GenMark stockholders may obtain copies of all of the offering documents, including the Offer to Purchase, free of charge at the SEC’s website (www.sec.gov) or by directing a request for the Solicitation/Recommendation Statement on Schedule 14D-9 to GenMark’s website at www.genmarkdx.com or the Offer to Purchase and the other related materials to MacKenzie Partners, Inc., the Information Agent for the offer, toll free at (800) 322-2885 (or please call (212) 929-5500 if you are located outside the U.S. or Canada) or via email at [email protected].

Before making any decision with respect to the Offer, investors are urged to read the Offer to Purchase and related documents, as well as the Solicitation/Recommendation Statement, because they contain important information about the Offer.

About GenMark Diagnostics
GenMark Diagnostics is a leading provider of multiplex molecular diagnostic solutions designed to enhance patient care, improve key quality metrics and reduce the total cost-of-care. Utilizing GenMark’s proprietary eSensor detection technology, GenMark’s eSensor XT-8 and ePlex systems are designed to support a broad range of molecular diagnostic sample-to-answer tests with compact, easy-to-use workstations and self-contained, disposable test cartridges. GenMark’s ePlex: The True Sample-to-Answer Solution is designed to optimize laboratory efficiency and address a broad range of infectious disease testing needs, including respiratory, bloodstream and gastrointestinal infections.