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Selvita to present at the Precision In Drug Discovery & Preclinical Virtual Summit (West Coast)

On February 24, 2021 Selvita, one of the largest preclinical contract research organizations in Europe, reported that it will present at the Precision In Drug Discovery & Preclinical Virtual Summit (West Coast) taking place on March 3-4, 2021 (Press release, Selvita, FEB 24, 2021, https://selvita.com/news/selvita-to-present-at-the-precision-in-drug-discovery-preclinical-virtual-summit-west-coast/?utm_source=rss&utm_medium=rss&utm_campaign=selvita-to-present-at-the-precision-in-drug-discovery-preclinical-virtual-summit-west-coast [SID1234575506]).

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The presentation "A Flexible Approach to Small Molecule Drug Discovery" will be held by Tom Coulter, PhD, Integrated Drug Discovery Director at Selvita, on March 4, 2021, at 10:35 AM PST.

BriaCell Announces Pricing of US$25 Million Public Offering and Nasdaq Listing

On February 24, 2021 BriaCell Therapeutics Corp. (TSX-V:BCT) (NASDAQ: BCTX, BCTXW) ("BriaCell" or the "Company"), a clinical-stage biotechnology company specializing in targeted immunotherapies for advanced breast cancer, reported the pricing of an underwritten public offering in the United States of 5,882,353 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock (or units consisting of one pre-funded common stock purchase warrant ("Pre-Funded Warrant") and one warrant to purchase one share of common stock, in lieu thereof). Each unit is being sold to the public at a price of US$4.25 (inclusive of the exercise price of the Pre-Funded Warrant, in the case of the units containing Pre-Funded Warrants) (Press release, BriaCell Therapeutics, FEB 24, 2021, View Source [SID1234575505]). The gross proceeds to the Company from the offering are expected to be approximately US$25 million before deducting underwriting discounts, commissions and other offering expenses. The warrants will have a per share exercise price of US$5.3125, be exercisable immediately, and expire five years from the date of issuance. The Pre-Funded Warrants will be exercisable at any time after the date of issuance upon payment of the exercise price of $0.01 per common share. The common stock (or Pre-Funded Warrant) and warrants that are part of the units can only be purchased together in the offering but will be issued separately.

The common shares and warrants have been approved to list on the Nasdaq Capital Market under the symbols BCTX and BCTXW respectively, and are expected to begin trading on February 24, 2021.

The Company has granted the underwriter a 45-day option to purchase up to 882,352 additional shares of common stock and/or Pre-Funded Warrants and/or up to 882,352 additional warrants to cover over-allotments, if any.

The offering is expected to close on February 26, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

The estimated gross proceeds to the Company are expected to be approximately US$25 million prior to deducting underwriting discounts, commissions and other estimated offering expenses. The Company intends to use the proceeds to fund clinical trials, research and development, and for general working capital and general corporate purposes.

A registration statement on Form F-1 (File No. 333-234292) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on February 23, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at View Source

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Vividion Announces $135 Million Series C Financing to Fuel Broad Pipeline of Precision Oncology and Immunology Programs

On February 24, 2021 Vividion Therapeutics, Inc., a biotechnology company utilizing novel discovery technologies to unlock high value, traditionally undruggable targets with precision therapeutics for devastating cancers and immune disorders, reported the completion of a $135 million Series C financing, co-led by new investors, Logos Capital and Boxer Capital of Tavistock Group (Press release, Vividion Therapeutics, FEB 24, 2021, View Source [SID1234575504]). Additional new investors in the raise include SoftBank Investment Advisers, Avoro Capital Advisors, funds and accounts managed by BlackRock, RA Capital Management, funds and accounts advised by T. Rowe Price Associates, Inc., Surveyor Capital (a Citadel company), Woodline Partners LP, Acuta Capital and Driehaus Capital Management, alongside existing investors ARCH Venture Partners, BVF Partners L.P., Casdin Capital, Mubadala Capital, Nextech Invest and Versant Ventures.

"Vividion has made significant progress advancing drug discovery beyond the traditional boundaries of druggability. By leveraging our unique platform technologies, we are building a robust pipeline of precision oncology and immunology programs," said Jeffrey Hatfield, chief executive officer of Vividion. "We’re excited to have attracted such a distinguished group of healthcare investors, whose support will be instrumental in fueling the continued maturation of our broad pipeline, with the intention of beginning to advance programs into the clinic next year."

Vividion has integrated multiple emerging technologies in its platform that enable the company to discover and develop potential therapies for well-known but previously undruggable targets. The platform conveys the unique ability to: find unknown or cryptic functional pockets on high value targets; interact with those pockets using its first-in-kind, proteome-trained covalent chemistry library; and ensure precise selectivity across the entire proteome with its industrial scale chemoproteomics capabilities. Leveraging this platform, Vividion is advancing a pipeline of potent and selective small molecule therapies across a range of oncology and immunology indications. The company’s initial wave of wholly owned assets includes programs targeting the KEAP1-NRF2 axis, with antagonists for the treatment of NRF2 mutant and NRF2 addicted cancers, as well as agonists for the treatment of inflammatory diseases. Also in the initial wave, and in partnership with Bristol Myers Squibb, the company is advancing a program against a highly pursued yet unsolved transcription factor for the treatment of both oncology and immunology indications.

"The science behind Vividion’s approach to drugging the undruggable space and accessing some of the world’s most highly sought-after targets has the potential to solve a wide range of devastating cancer and immune disorders," said Arsani William, M.D., M.B.A. and Graham Walmsley, M.D., Ph.D. of Logos Capital. "Our investment philosophy at Logos is centered upon propelling innovation that meaningfully advances the standard of care for patients. The combination of a leading-edge platform, robust pipeline, strategic partnerships with leading pharmaceutical companies BMS and Roche, and a deeply experienced team sets Vividion apart. We are honored to support the team’s efforts in both the near- and longer-term."

Aaron Davis, chief executive officer of Boxer Capital, LLC, added, "We believe this company is building a remarkable early pipeline of precision oncology and immunology therapies that can have transformative value for patients in traditionally unserved or vastly underserved disease indications. At Boxer, our mission is to enable the most innovative biotechnology companies to drastically improve medicine, and we are delighted to help Vividion accelerate into the next phase of its evolution and toward achieving that goal."

Graviton Enters into Global Licensing Agreement for ROCK2 Inhibitor from Beijing Tide

On February 23, 2021 Graviton Bioscience Corporation ("Graviton"), a privately held early-stage drug development company founded by Dr. Samuel Waksal, and Beijing Tide Pharmaceutical Co., Ltd. (Beijing Tide) a subsidiary of Sino Biopharmaceutical Limited (HKG:1177), reported the signing of an exclusive license agreement for TDI01 (Press release, Graviton Bioscience, FEB 23, 2021, View Source [SID1234576629]). The agreement grants development and commercialization rights for TDI01 to Graviton in all territories, excluding China. Under the terms of the agreement, Graviton will make an upfront payment and additional amounts for development, regulatory and sales milestone payments for all programs, as well as royalties on net sales and an option for a revenue-sharing arrangement for certain developed products. The aggregate amount of upfront, development, regulatory and sales milestone payments is up to USD 517.5 million.

TDI01 is a targeted inhibitor of Rho/Rho containing protein kinase 2 (ROCK2). In 2020, an Investigational New Drug application for evaluation of TDI01 in fibrosis was cleared by the FDA, and a clinical trial application for the treatment of fibrosis was filed and accepted by the Center for Drug Evaluation of the People’s Republic of China. A Phase I clinical trial of the drug candidate in idiopathic pulmonary fibrosis is currently ongoing in the United States. Graviton expects to develop this novel therapeutic for the treatment of various serious diseases, including exploration of TDI01’s ability to penetrate the central nervous system, and the translation of efficacy demonstrated in certain preclinical cancer models as well as models of certain viral diseases.

"There remains a tremendous unmet need for novel, safe and effective therapies against a broad spectrum of diseases globally," said Dr. Waksal, Founder of Graviton. "Having pioneered the field in targeting ROCK2 mediated disease, I believe that the extraordinarily high selectivity and potency engineered by Beijing Tide in developing TDI01 offers great potential in advancing the next-generation of ROCK2 therapeutics. We look forward to moving TDI01 into different clinical studies in the U.S. as quickly as possible, and to begin elucidating this potential in the coming quarters."

"TDI01 is the first innovative small molecule in the clinical phase developed by Beijing Tide, and it shows great potential in treating a variety of diseases," said Sino Biopharmaceutical Limited’s Chairlady Theresa Tse. "We believe that collaborating with the experienced scientific team at Graviton would not only maximize the value of TDI01, but also accelerate the clinical development in both China and US. We look forward to initiating multiple clinical studies for different indications very soon."

Graviton Enters into Global Licensing Agreement for ROCK2 Inhibitor from Beijing Tide

On February 23, 2021 Graviton Bioscience Corporation ("Graviton"), a privately held early-stage drug development company founded by Dr. Samuel Waksal, and Beijing Tide Pharmaceutical Co., Ltd. (Beijing Tide) a subsidiary of Sino Biopharmaceutical Limited (HKG:1177), reported the signing of an exclusive license agreement for TDI01 (Press release, Graviton Bioscience, FEB 23, 2021, View Source [SID1234576625]). The agreement grants development and commercialization rights for TDI01 to Graviton in all territories, excluding China. Under the terms of the agreement, Graviton will make an upfront payment and additional amounts for development, regulatory and sales milestone payments for all programs, as well as royalties on net sales and an option for a revenue-sharing arrangement for certain developed products. The aggregate amount of upfront, development, regulatory and sales milestone payments is up to USD 517.5 million.