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Lantern Pharma Announces Closing of Public Offering of $69 Million USD and Full Exercise of Underwriter’s Over-Allotment Option

On January 20, 2021 Lantern Pharma (Nasdaq: LTRN), a clinical-stage biopharma company using its proprietary RADR artificial intelligence ("A.I.") platform to transform cancer drug development and identify patients who will benefit from its targeted oncology therapeutics, reported the closing of its previously announced public offering of 4,928,571 shares of its common stock at a public offering price of $14.00 per share, which includes 642,856 shares sold upon full exercise of the underwriter’s option to purchase additional common shares (Press release, Lantern Pharma, JAN 20, 2021, View Source [SID1234574160]). The gross proceeds from the offering, including the exercise of the over-allotment option, were $68,999,994, before deducting underwriting discounts, commissions and offering expenses.

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ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. Colliers Securities LLC acted as co-manager for the offering.

A registration statement on Form S-1 (File No. 333-251992) relating to the shares was filed with the Securities and Exchange Commission and became effective on January 14, 2021, and a related registration statement on Form S-1 (File No. 333-252116) was filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, in connection with the upsizing of the offering. This offering was made only by means of a prospectus. Copies of the final prospectus 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].

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

TRIGR Therapeutics and Elpiscience Biopharmaceuticals Announce $117 Million Exclusive China Licensing Transaction for TR009, a Phase 1B Dual Angiogenic Bispecific Antibody Targeting DLL4/VEGF

On January 20, 2021 TRIGR Therapeutics, Inc. ("TRIGR"), a US based clinical stage biopharmaceutical company focused on the development of multi-targeted angiogenic and immunomodulatory bispecific antibodies for oncology and certain ischemic indications and Elpiscience Biopharmaceuticals, a leading China based clinical stage company focused on developing next generation of cancer immunotherapies reported that they have entered into an exclusive licensing agreement for the development and commercialization of TR009 in mainland China, Hong Kong, Macau and Taiwan (Press release, TRIGR Therapeutics, JAN 20, 2021, View Source [SID1234574159]).

Under the terms of the agreement, TRIGR will receive an upfront cash payment of $7 million and is eligible to receive additional development and commercial milestones of $110 million plus royalties on annual net sales of TR009. Elpiscience obtains the exclusive development and commercialization rights of TR009 for Greater China across all oncology indications and will lead the clinical development and commercialization by leveraging on its translational science, clinical and regulatory experience to accelerate the path to approval of TR009 in its territory. A Joint Development Committee (JDC) will be formed to collaborate and harmonize TR009’s clinical development globally.

George Uy, Founder and Chief Executive Officer of TRIGR stated, "TRIGR was formed with a vision to globalize drug development and accelerate transformative treatment to patients worldwide. Our partnership with Elpiscience in Greater China is a significant milestone in this endeavor. We would also like to acknowledge and thank ABL Bio (KOSDAQ: 298380), the originator of TR009 (aka ABL001/NOV1501) for their support in the Phase 1 clinical studies and immense contribution to this program, along with HANDOK (KOSDAQ:002390), National Oncoventure (NOV) and Binex (KOSDAQ:053030)."

Dr. Darren Ji, co-Founder, Chairman and Chief Executive Officer of Elpiscience stated, "Elpiscience is committed to delivering the next generation of cancer immunotherapy to patients who cannot benefit from current treatment. TR009 has demonstrated impressive single agent activity in tumor types that are poorly responsive to present immunotherapies and is highly synergistic with our next generation immune modulators. The addition of TR009 to our pipeline will further strengthen our efforts in tackling "cold tumors" and delivering efficient therapeutics."

Miranda Toledano, Chief Operating/ Financial Officer of TRIGR stated "Emerging data from our Phase 1 studies demonstrate TR009 is a highly differentiated dual angiogenic blocker, safely inhibiting both DLL4-mediated Notch signaling and VEGF with activity across several DLL4 overexpressed tumors. We believe this profile could position TR009 as a next generation angiogenic flagship molecule with multiple rational combinations and sBLA opportunities." Dr. Steve Chin, Chief Medical Officer of Elpiscience added, "We were particularly encouraged by TR009 data in heavily pre-treated tumors refractory to anti-VEGF such as colorectal and gastric cancers. We look forward to working together with the TRIGR team to expedite delivery to patients."

About TR009

TR009 (aka ABL001/NOV1501) is an anti-VEGFxDLL4 bispecific antibody, which is composed of an anti-VEGF antibody backbone C-terminally linked with a proprietary DLL4-targeting single-chain variable fragment. Data from TR009’s ongoing Phase 1 Dose Escalation/Expansion Monotherapy and Phase 1B Combination studies (n~60 patients) demonstrate a 67% Clinical Benefit Rate, with deep and sustained partial responses per RECIST criteria in heavily pre-treated colorectal and gastric cancer patients that have failed at least 3 lines of prior therapy and become resistant to multi-VEGF (Avastin, Stivarga, Cyramza), EGFR, anti-PD-1/PD-L1 and chemotherapies. The Phase 1B results testing the safety of TR009 in combination with irinotecan or paclitaxel, have also shown deep and sustained partial responses in difficult to treat 3rd / 4th line Intrahepatic Cholangiocarcinoma (Biliary Tract Cancer) and Non-Small Cell cancer patients that have failed multiple lines of chemo, biological therapy, and anti-PD-1. TR009 has been safety administered up to 17.5mg/kg dose with no dose limiting toxicities (DLT). In contrast to historical DLL4 and other Notch targeted therapies, the administration of TR009 has not been hampered by pulmonary hypertension or other cardiac toxicities. Further updates on these studies will be provided later in 2021.

BioInvent to host Key Opinion Leader call on BI-1206 for relapsed or refractory Non-Hodgkin’s Lymphoma

On January 20, 2021 BioInvent International AB ("BioInvent") (OMXS: BINV), a biotech company focused on the discovery and development of novel and first-in-class immune-modulatory antibodies for cancer immunotherapy reported that it will host a Key Opinion Leader call on BI-1206 for relapsed or refractory Non-Hodgkin’s Lymphoma on Thursday, January 28, 2021 at 11:30 a.m. Eastern Time (5:30 p.m. CET) (Press release, BioInvent, JAN 20, 2021, View Source [SID1234574158]).

The event will feature a presentation by renowned lymphoma expert Mats Jerkeman, MD, Lund University, who will discuss the current treatment landscape, and unmet medical need for patients with relapsed or refractory Non-Hodgkin’s Lymphoma for whom current treatment options are very limited. Dr Jerkeman will also discuss his experience in treating these patients with BioInvent’s anti-FcγRIIB antibody, BI-1206, a novel monoclonal antibody that specifically targets the antibody "brakes" to help overcome resistance to rituximab.

BioInvent’s management team will also give an update on the ongoing Phase I/IIa trial of BI-1206 in combination with rituximab and BioInvent’s partner CASI Pharmaceuticals (NASDAQ: CASI) will provide an update on the development plan and potential for BI-1206 in China. Dr. Jerkeman and senior members of the BioInvent and CASI management teams will be available to answer questions following the formal presentations.

To register for the call, please click here.

Dr. Mats Jerkeman is Professor in Clinical Oncology at Lund University, Sweden. His research focus is all possible aspects of malignant lymphomas, aiming for the improvement of the quality of life and survival of these patients.

Dr. Jerkeman is the coordinator of several ongoing clinical trials in diffuse large B-cell lymphoma and mantle cell lymphoma. He also serves as Chairman of the Nordic Lymphoma Group, Editor of ESMO (Free ESMO Whitepaper) Guidelines/Lymphoma and as coordinator of the Swedish Lymphoma Register for many years.

Celularity to Present at the B. Riley Securities Virtual Oncology Investor Conference

On January 20, 2021 Celularity Inc., a clinical stage cell therapeutics company focused on the development of innovative allogeneic placenta-derived cellular therapies, reported that Robert J. Hariri, M.D., Ph.D., Founder, Chairperson and Chief Executive Officer of Celularity and members of the management team will be participating in a fireside chat at the B. Riley Virtual Oncology Investor Conference on Thursday, January 21, 2021, at 3:30 p.m. ET (Press release, Celularity, JAN 20, 2021, View Source [SID1234574156])

The live audience is limited to institutional investors, investor relations, and employees of Celularity. Private investors will not be given access to the live conference, but a video recording will be available on the "Newsroom" section of the Celularity website following the conference.

Efficacy and Safety of Ruxolitinib and Steroids for Treating Patients with Relapsed or Refractory Multiple Myeloma (RRMM). Results from the I-RUX Study Published in ASH2020

On January 20, 2021 ONCOtherapeutics and Dr. James Berenson reported that promising new data demonstrating that ruxolitinib (RUX), an oral JAK1/2 inhibitor, with only steroids is well tolerated and shows promising efficacy for treating heavily previously treated MM patients (Press release, Oncotherapeutics, JAN 20, 2021, View Source [SID1234574155]).

Recently published results from a Phase 1 trial for 28 heavily previously treated MM patients administered RUX, LEN and methylprednisolone (MP) demonstrated that the therapy was well tolerated and RUX overcame refractoriness to LEN and steroids (Berenson et al., Clin Cancer Res. 2020). The clinical and overall response rates were 46% and 28%, respectively, and all 12 responding patients were refractory to LEN.

To further evaluate whether RUX and steroids without LEN demonstrate clinical activity and its tolerability in the same patient population, an ongoing Phase I trial was expanded to also include a cohort of patients treated with only this two-drug combination (NCT03110822). RUX (15mg BID) was given orally twice a day continuously and oral methylprednisolone (MP; 40 mg) every other day.

Of the 17 evaluable patients treated with RUX and steroids so far, the CBR and ORR were 53% (n=8) and 33% (n=5), respectively. The median duration of response was 4 months (range, 1-12) and median progression free survival was 5 months (range, 1-14). The combination was well tolerated with no unanticipated adverse effects.

As noted by lead investigator Dr. James R. Berenson, "Multiple myeloma patients continue to need new treatment options, especially for those who have become refractory to previously effective treatment options. Besides having a direct MM killing effect, ruxolitinib’s ability to resensitize lenalidomide is a major advantage that allows clinicians to recycle drugs and recapture disease control, while maintaining the convenience of an all-oral regimen. This is an entirely new treatment approach for MM patients."

With these promising results, ONCOtherapeutics has expanded the current study to further investigate the potential of this novel two-drug combination for treating MM including those with poor kidney function.