On April 7, 2020 Cancer Research UK has reported that it has taken the difficult decision to cut funding to its existing grants and institutes by up to 10% and its national network of Centres by around 20% (Press release, Cancer Research UK, APR 7, 2020, View Source [SID1234556252]). This works out as a £44 million cut to its research portfolio across the year, Iain Foulkes, Professor Karen Vousden, and Professor Charles Swanton wrote in an open letter to its researcher community.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"Our mission is so important to people all over the UK and by helping the global effort of tackling COVID-19, we hope we can get back to beating cancer as soon as possible." – Iain Foulkes, executive director of research and innovation at Cancer Research UK
Iain Foulkes, executive director of research and innovation at Cancer Research UK, said: "COVID-19 has left the whole world in uncharted waters. And the unprecedented measures to control the global COVID-19 pandemic have had a huge impact on both our researchers’ ability to carry on in the lab, and on our ability to fundraise. Faced with a predicted loss of 20-25% of fundraising income, we are forced to look for savings across our current portfolio.

"Cancer Research UK funds nearly 50% of the cancer research in the UK and making cuts to research funding is the most difficult decision we have had to make. We don’t do so lightly. We have worked hard to ensure the cuts are limited and give our researchers flexibility in how to make them. Ultimately, it is our research that delivers benefit to people affected by cancer, and this remains our first priority. We are hopeful that limiting our spending now will enable us to continue funding life-saving research in the long run.

"Cancer doesn’t go away during or after COVID-19, but we’re incredibly proud of our community of researchers who have been very quick to respond to the crisis, using their kit, skills and talent to support the NHS and the COVID-19 response. Our mission is so important to people all over the UK and by helping the global effort of tackling COVID-19, we hope we can get back to beating cancer as soon as possible."

On April 7, 2020 OmniSeq, a cutting-edge and rapidly growing cancer diagnostics company, reported an expansion of its leadership team with the appointment of chief medical officer, Roger D. Klein, M.D., J.D., FCAP (Press release, OmniSeq, APR 7, 2020, View Source [SID1234556245]). Dr. Klein will support OmniSeq in its continued development of innovative products that help oncologists identify the best precision medicine options for their patients.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are pleased to welcome Dr. Klein to OmniSeq as chief medical officer," said Margot Schoenborn, CEO of OmniSeq. "As our new clinical affairs leader, he will play a critical role in educating oncologists, pathologists and other clinicians on how to leverage molecular information to improve clinical decision making and therapeutic selection for patients with advanced cancers. Dr. Klein’s decades of experience in molecular pathology and oncology will be an incredible asset to our team. He brings insights into treating providers’ needs that will help drive our clinical evidence development initiatives."

Dr. Klein joins OmniSeq with nearly 30-years of experience in the medical industry and a distinguished career in molecular pathology. He previously held leadership roles in molecular pathology at Cleveland Clinic, the BloodCenter of Wisconsin and H. Lee Moffitt Cancer Center.

"I am thrilled to be joining OmniSeq at an exciting time for cancer diagnostics and precision medicine at a pivotal juncture for the company," said Dr. Klein. "I look forward to working with OmniSeq’s outstanding and talented team and am dedicated to supporting the organization in its mission to advance precision medicine and improve patient outcomes. I appreciate the opportunity to contribute to the continued growth and success of the company."

Dr. Klein received his undergraduate and medical degrees from Case Western Reserve University and completed post-graduate medical education at Yale University School of Medicine and Mayo Clinic. In addition, he has a law degree from Yale Law School.

The addition of Dr. Klein follows the recent appointment of Dr. Shengle Zhan as laboratory director and molecular pathologist. OmniSeq has had double-digit growth in both annual revenue and sales volume since 2017. In 2019, LabCorp made a second investment in OmniSeq and extended its exclusive distribution agreement with the company

On April 7, 2020 ImaginAb Inc., a leading clinical stage immuno-oncology imaging company, and ARTMS Products Inc., the global leader in the development of novel technologies which enable the production of the world’s most-used diagnostic imaging isotopes, reported they have entered a multi-year non-exclusive partnership to explore a novel radiochemistry manufacture of ImaginAb’s lead asset 89Zr CD8 ImmunoPET (Press release, ImaginAb, APR 7, 2020, View Source;utm_medium=rss&utm_campaign=imaginab-and-artms-announce-strategic-partnership-for-innovative-manufacture-of-89zr-cd8-immunopet-agent [SID1234556191]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Under the terms of the agreement, ARTMS’ high-power technology will be deployed to enhance the manufacture of ImaginAb’s proprietary antibody 89Zr-Df-IAB22M2C (89Zr CD8 ImmunoPET).

The CD8 ImmunoPET minibody binds to the CD8 receptor on human T cells and is used for non-invasive PET (positron emission tomography) imaging of CD8 T cells in patients as a pharmacodynamic and predictive marker for immunotherapy. Due to the zirconium-89 (89Zr) labeling of the minibody it can be visualized by PET imaging. ARTMS’ flagship product, the QUANTM Irradiation SystemTM (QISTM), provides for cost-effective, decentralized, and local production of important medical isotopes, including 89Zr which is used for the labelling of ImaginAb’s CD8 ImmunoPET agent.

This pioneering methodology of radiochemistry manufacture represents an innovative way to generate 89Zr which will allow for the local manufacture of a significant commercial scale leading to an increase in 89Zr supply as well as potentially expanding ImaginAb’s supply sites. This new process of manufacturing 89Zr has the potential to be applied in the development of other assets in ImaginAb’s pipeline.

As part of the research collaboration, ARTMS will run pilot and optimization studies to assess radiolabelling of ImaginAb’s CD8 ImmunoPET minibody using this new methodology.

Commenting on the news, Ian Wilson, Chief Executive Officer of ImaginAb, said: "We are very excited to expand our manufacturing capabilities with ARTMS. ImaginAb’s CD8 ImmunoPET technology is the most advanced CD8 PET tracer under clinical development, and this new collaboration has the potential to increase access of our technology to patients and partners alike."

Charles S. Conroy, Chief Executive Officer of ARTMS, added: "We are very pleased to join ImaginAb in the search and establishment of a novel and more efficient manufacturing process. This collaboration fits ARTMS’ vision of being a leading manufacturer of the world’s most needed medical radioisotopes. Our state-of-the-art technology platform and robust global quality-supply network make us uniquely qualified to support ImaginAb. ARTMS and ImaginAb share the same patient-focused mindset and dedication to producing products of the highest quality for patients."

On April 7, 2020 Mersana Therapeutics, Inc. (Nasdaq: MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, reported that it has raised gross proceeds of approximately $65 million through its At-the-Market (ATM) facility with participation based on interest received from Avoro Capital Advisors LLC, Bain Capital Life Sciences, Consonance Capital Investors and David Mott, Mersana’s Chairman of the Board (Press release, Mersana Therapeutics, APR 7, 2020, View Source [SID1234556208]). The Company sold approximately 8.9 million shares of the Company’s common stock at a purchase price of $5.59 and 2.0 million shares at the closing price of $7.74, in each case the market price at the time of sale. Cowen is acting as the sales agent for the ATM facility.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The additional funds raised through the ATM strengthen the Company’s balance sheet and will be used to advance its pipeline, including the clinical development of XMT-1536 and XMT-1592, as well as for working capital and other general corporate purposes.

The shares of common stock described above were sold by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-226055), including a preliminary prospectus supplement, which was declared effective by the SEC on September 17, 2018. A final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926. Electronic copies of the final prospectus supplement and the accompanying prospectus will also be available on the SEC’s website at View Source

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

On April 7, 2020 Amphista Therapeutics, a biopharmaceutical company creating first-in-class cancer therapeutics that harness the body’s natural processes to selectively and efficiently degrade and remove disease causing proteins, reported the closing of a USD $7.5m Series A round, led by Advent Life Sciences (Press release, Amphista Therapeutics, APR 7, 2020, View Source [SID1234556189]). Seed round funders the Scottish Investment Bank, with backing from the Scottish Growth Scheme, and the European Investment Fund joined the round, along with new investor, US-based life sciences BioMotiv.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Amphista’s CEO Nicola Thompson said, "This international financing provides Amphista with a firm foundation to underpin a Series B round to progress our oncology pipeline to the clinic. Our vision is to create a leading protein degradation company on the global stage that delivers ground-breaking new medicines to patients in areas of high unmet need."

Raj Parekh, General Partner at lead investor Advent Life Sciences said, "We are excited to support Amphista in its next stage of development. The Company has a potentially unique approach to targeted protein degradation when compared with traditional proteolysis targeting chimera (PROTAC) platforms. We believe that Amphista has great potential with its differentiated proprietary technology to address traditionally undruggable targets."

Satish Jindal, CEO of BioMotiv, and newly appointed Amphista Chairman, commented, "We are a mission-driven accelerator, and we are excited by Amphista’s focus to rapidly produce potent bifunctional small molecules to augment the body’s own processes to remove disease-associated proteins. We see huge potential to accelerate Amphista’s breakthrough technology platform into medicines."

Amphista’s scientific founder, Professor Alessio Ciulli, based at the University of Dundee, is an internationally renowned expert in the field of targeted protein degradation (TPD). "Highly specific TPD is a transformative new modality for tackling previously undruggable targets with high therapeutic value," said Ciulli.

Amphista’s TPD small molecules instruct the cell to degrade the target directly rather than activating or inhibiting the target protein function. As protein-protein interactions are involved in disease progression, removing the target protein provides a clear therapeutic advantage over simple inhibition. Specifically, Amphista’s platform is independent of traditional E3 ubiquitin ligases used by the field, potentially expanding the available target scope of TPD approaches and should overcome recently identified PROTAC resistance mechanisms.