Molecular Templates, Inc. Announces $45 Million Debt Financing From K2 HealthVentures

On May 22, 2020 Molecular Templates, Inc. (Nasdaq: MTEM, "Molecular Templates," "MTEM" or the "Company"), a clinical-stage biopharmaceutical company focused on the discovery and development of the Company’s proprietary targeted biologic therapeutics, engineered toxin bodies (ETBs), reported it has secured a debt financing facility for up to $45 million from K2 HealthVentures, a healthcare-focused specialty finance company (Press release, Molecular Templates, MAY 22, 2020, View Source [SID1234558412]). MTEM received a first tranche of $15 million upon closing, a portion of which has been used to repay the remaining indebtedness that was outstanding under the Company’s prior credit facility. Two subsequent tranches totaling up to $30 million will become available to MTEM, at its option, upon the achievement of certain milestones with respect to the second tranche and, subject to lender consent and certain additional conditions with respect to the third tranche.

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"This debt facility strengthens our balance sheet in a non-dilutive fashion and increases our financial flexibility as we advance and expand our pipeline and grow our internal manufacturing capacity," said Eric Poma, Ph.D. Molecular Templates’ Chief Executive and Scientific Officer.

Kitov Announces U.S. FDA Acceptance of Investigational New Drug Application to Conduct Phase 1/2 Clinical Trial of NT219 in Multiple Types of Advanced Cancer Patients

On May 22, 2020 Kitov Pharma Ltd. ("Kitov") (NASDAQ/TASE: KTOV), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, reported that the U.S. Food and Drug Administration (FDA) has accepted its Investigational New Drug (IND) application to conduct a Phase 1/2 clinical trial of NT219, a novel agent addressing treatment resistance in advanced cancer (Press release, Kitov Pharmaceuticals , MAY 22, 2020, View Source [SID1234558411]). The study will evaluate NT219 as monotherapy treatment of advanced solid tumors and in combination with cetuximab, an epithelial growth factor receptor (EGFR) blocking monoclonal antibody, for the treatment of recurrent or metastatic solid tumors and head and neck cancer or colorectal adenocarcinoma.

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"The acceptance of our IND by the FDA to conduct this important clinical study represents a significant achievement for our NT219 development program," said Bertrand Liang, M.D., Ph.D., Chief Medical Officer of Kitov. "Based on the encouraging preclinical data generated in various studies with NT219, we believe this promising drug candidate has the potential to be a safe and effective therapy for multiple treatment resistant cancers. We look forward to beginning to generate key clinical evidence for NT219 through this Phase 1/2 trial."

The primary objectives of the open-label Phase 1/2 trial are to evaluate safety, assess pharmacokinetics, identify the appropriate dose to be studied in the Phase 2 portion, and establish preliminary efficacy of NT219. The Phase 1 portion of the study will encompass a dose escalation evaluation of NT219 monotherapy administered weekly in patients with refractory advanced solid tumors. Upon reaching the third dose to be given, a second cohort of patients, with either recurrent or metastatic squamous cell carcinoma of the head and neck or colorectal adenocarcinoma, will be dosed weekly with NT219, dose escalated, in combination with cetuximab. Upon completion of the mono and combination therapy Phase 1 portion of the trial and establishment of the recommended Phase 2 dose for NT219, an expansion Phase 2 component of the study will be commenced at the recommended Phase 2 dose of NT219 in combination with cetuximab in patients with recurrent/metastatic squamous cell carcinoma of the head and neck.

In previously completed preclinical studies, NT219 has demonstrated compelling anti-tumor activity, as both monotherapy and in combination with cetuximab. Most recently, in an abstract published at the American Association of Cancer Research Virtual Meeting II website, positive preclinical data were presented showing that NT219 demonstrated growth inhibition, both as monotherapy, as well as in combination with cetuximab or pembrolizumab, a programmed cell death protein 1 (PD-1) inhibitor, in multiple patient-derived xenograft models of subjects with head and neck squamous cell carcinoma.

European Medicines Agency Validates Bristol Myers Squibb’s Applications for Idecabtagene Vicleucel (Ide-cel, bb2121) and CC-486

On May 22, 2020 Bristol Myers Squibb (NYSE: BMY) reported that the European Medicines Agency (EMA) has validated its Marketing Authorization Applications (MAA) for both idecabtagene vicleucel (ide-cel, bb2121) and CC-486 (Press release, Bristol-Myers Squibb, MAY 22, 2020, View Source [SID1234558409]). Validation of each application confirms the respective submissions are complete and begins the EMA’s centralized review process.

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The MAA for ide-cel, the company’s investigational B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T cell immunotherapy co-developed with bluebird bio, Inc., is for the treatment of adult patients with multiple myeloma who have received at least three prior therapies, including an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 antibody. Ide-cel was granted Accelerated Assessment status by the EMA in March, reducing the maximum timeframe for review of the application to 150 days.

"Europe has one of the highest incidence rates of multiple myeloma, and patients who have relapsed and are refractory to standard treatment regimens are in need of treatment options to improve outcomes,1" said Stanley Frankel, M.D., senior vice president, Cellular Therapy Development, Bristol Myers Squibb. "We will continue to work with the EMA to bring ide-cel to patients in the European Union who are battling this aggressive blood cancer."

The MAA for CC-486 is for the maintenance treatment of adult patients with acute myeloid leukemia (AML), who achieved complete remission (CR) or CR with incomplete blood count recovery (CRi), following induction therapy with or without consolidation treatment, and who are not candidates for, or who choose not to proceed to, hematopoietic stem cell transplantation.

"For patients with AML, maintaining remission remains an extremely important factor in the treatment of their disease," said Noah Berkowitz, M.D., Ph.D., senior vice president, Global Development, Hematology, Bristol Myers Squibb. "This validation is an important step toward making CC-486 available to eligible patients in the European Union, who are in need of treatment options with the potential to decrease their risk of relapse and extend their overall survival."

Results supporting the ide-cel application came from the pivotal Phase 2 KarMMa study, which evaluated the efficacy and safety of ide-cel in heavily pre-treated patients with relapsed and refractory multiple myeloma. The study met its primary endpoint of overall response rate and key secondary endpoint of complete response rate. The safety results were consistent with previously reported data for ide-cel.

The CC-486 application is based on the efficacy and safety results of the pivotal Phase 3 QUAZAR AML-001 study, which met the primary endpoint of improved overall survival for patients receiving AML maintenance treatment with CC-486 versus placebo.

Ide-cel and CC-486 are investigational therapies that are not approved for any indication in any geography.

About Ide-cel

Ide-cel is a B-cell maturation antigen (BCMA)-directed genetically modified autologous chimeric antigen receptor (CAR) T cell immunotherapy. The ide-cel CAR is comprised of a murine extracellular single-chain variable fragment (scFv) specific for recognizing BCMA, attached to a human CD8 α hinge and transmembrane domain fused to the T cell cytoplasmic signaling domains of CD137 4-1BB and CD3-ζ chain, in tandem. Ide-cel recognizes and binds to BCMA on the surface of multiple myeloma cells leading to CAR T cell proliferation, cytokine secretion, and subsequent cytolytic killing of BCMA-expressing cells.

In addition to the pivotal KarMMa trial evaluating ide-cel in patients with relapsed and refractory multiple myeloma, Bristol Myers Squibb and bluebird bio’s broad clinical development program for ide-cel includes clinical studies (KarMMa-2, KarMMa-3, KarMMa-4) in earlier lines of treatment for patients with multiple myeloma, including newly diagnosed multiple myeloma. For more information visit clinicaltrials.gov.

Ide-cel is being developed as part of a Co-Development, Co-Promotion and Profit Share Agreement between Bristol Myers Squibb and bluebird bio. Ide-cel was granted accelerated assessment by the European Medicines Agency (EMA) on March 26, 2020.

About CC-486

CC-486 is an oral hypomethylating agent that incorporates into DNA and RNA. The main mechanism of action is thought to be hypomethylation of DNA, as well as direct cytotoxicity to abnormal hematopoietic cells in the bone marrow. Hypomethylation may restore normal function to genes that are critical for differentiation and proliferation. Oral dosing of CC-486 allows for extended drug exposure during each treatment cycle to prolong therapeutic activity.2

About KarMMa 3

KarMMa (NCT03361748) is a pivotal, open-label, single-arm, multicenter, multinational, Phase 2 study evaluating the efficacy and safety of ide-cel in adults with relapsed and refractory multiple myeloma in North America and Europe. The primary endpoint of the study is overall response rate as assessed by an independent review committee (IRC) according to the International Myeloma Working Group (IMWG) criteria. Complete response rate is a key secondary endpoint. Other efficacy endpoints include time to response, duration of response, progression-free survival, overall survival, minimal residual disease evaluated by Next-Generation Sequencing (NGS) assay and safety. The study enrolled 140 patients, of whom 128 received ide-cel across the target dose levels of 150-450 x 106 CAR+ T cells after receiving lymphodepleting chemotherapy. All enrolled patients had received at least three prior treatment regimens, including an immunomodulatory agent, a proteasome inhibitor and an anti-CD38 antibody, and were refractory to their last regimen, defined as progression during or within 60 days of their last therapy.

About QUAZAR AML-001

QUAZAR AML-001 is a Phase 3, international, randomized, double-blind, placebo-controlled study of CC-486 as AML maintenance therapy in patients who achieved first complete remission (CR) or complete remission with incomplete blood count recovery (CRi) following intensive induction chemotherapy (with or without consolidation), who were ineligible for hematopoietic stem cell transplant. The primary endpoint of the study was overall survival. Key secondary endpoints included relapse-free survival (RFS), safety and tolerability, healthcare resource utilization and patient-reported outcomes per the FACIT-Fatigue Scale and EQ-5D questionnaire. The study enrolled 472 patients, randomized 1:1 to receive initially either 300 mg of CC-486 or placebo orally, once daily, for 14 days of a 28-day cycle, plus best supportive care. Patients remained on treatment until unacceptable toxicity or disease progression.

About Multiple Myeloma

Multiple myeloma is a cancer of plasma cells.4 The cause of multiple myeloma is not known and currently there is no cure; however, there are a number of treatment options available that can lead to response.4 Patients who have already been treated with some available therapies but continue to have progression of their disease have "relapsed" and "refractory" multiple myeloma, meaning their cancer has returned after they have received initial treatments. Patients with relapsed and refractory multiple myeloma, that have been exposed to all three major drug classes, have fewer treatment options and poor outcomes, including shorter response durations and lower overall survival.5 In Europe, over 48,000 people were diagnosed with multiple myeloma in 2018.6

About AML

Acute myeloid leukemia (AML) is the most common type of acute leukemia. AML starts in the bone marrow but moves quickly into the blood. Unlike in normal blood cell development, in AML, the rapid buildup of abnormal white blood cells in the bone marrow may interfere with the production of normal blood cells, resulting in decreased healthy white blood cells, red blood cells and platelets. AML is a complex, diverse disease associated with multiple genetic mutations and usually worsens quickly and can lead to death if not treated. AML has a high relapse rate, meaning following patients’ initial response to treatment, their disease is likely to return, signifying an unmet need to prolong remission. There are approximately 40,000 people with AML in Europe, and this number has increased in recent years likely due to the aging population.7

Bristol Myers Squibb: Advancing Cancer Research

At Bristol Myers Squibb, patients are at the center of everything we do. The goal of our cancer research is to increase patients’ quality of life, long-term survival and make cure a possibility. We harness our deep scientific experience, cutting-edge technologies and discovery platforms to discover, develop and deliver novel treatments for patients.

Building upon our transformative work and legacy in hematology and Immuno-Oncology that has changed survival expectations for many cancers, our researchers are advancing a deep and diverse pipeline across multiple modalities. In the field of immune cell therapy, this includes registrational CAR T cell agents for numerous diseases, and a growing early-stage pipeline that expands cell and gene therapy targets, and technologies. We are developing cancer treatments directed at key biological pathways using our protein homeostasis platform, a research capability that has been the basis of our approved therapies for multiple myeloma and several promising compounds in early- to mid-stage development. Our scientists are targeting different immune system pathways to address interactions between tumors, the microenvironment and the immune system to further expand upon the progress we have made and help more patients respond to treatment. Combining these approaches is key to delivering potential new options for the treatment of cancer and addressing the growing issue of resistance to immunotherapy. We source innovation internally, and in collaboration with academia, government, advocacy groups and biotechnology companies, to help make the promise of transformational medicines a reality for patients.

Fresenius Kabi’s regulatory submission for pegfilgrastim biosimilar accepted for review by EMA

On May 22, 2020 Fresenius reported that the European Medicines Agency (EMA) has accepted for review Fresenius Kabi`s Marketing Authorization Application (MAA) for MSB11455, a biosimilar candidate of Neulasta (pegfilgrastim)* (Press release, Fresenius, MAY 22, 2020, View Source [SID1234558408]). This is another milestone for Fresenius Kabi following last year`s approval and launch of the company`s adalimumab biosimilar (Idacio) in Europe. (* Neulasta is a registered trademark of Amgen)

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Oncopeptides completes enrollment to the pivotal phase 3 study OCEAN for relapsed refractory multiple myeloma – 450 patients included

On May 22, 2020 Oncopeptides AB (Nasdaq Stockholm: ONCO) reported a successful completion of enrollment in the pivotal phase 3 study OCEAN for the treatment of relapsed refractory multiple myeloma (Press release, Oncopeptides, MAY 22, 2020, View Source [SID1234558407]). The study includes 450 patients from more than 100 hospitals around the world. Top line results are expected to be presented later this year.

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OCEAN is a randomized, comparative study between melflufen and pomalidomide in patients with relapsed refractory multiple myeloma (RRMM). The patients have been treated with immunomodulatory inhibitors (IMiD) and proteasome inhibitors (PI), they have developed resistance to their last line of therapy and are refractory to lenalidomide (IMiD), the most commonly used drug for the treatment of multiple myeloma. The primary end­point is Progression Free Survival (PFS).

"I am very pleased to announce that we managed to complete enrollment in the OCEAN study despite the strenuous situation that our research and healthcare providers currently are facing. A positive OCEAN comparison between melflufen and the standard of care in RRMM will provide critical insights on how to optimize treatment of RRMM patients," says Jakob Lindberg, CEO of Oncopeptides. "This comparison will enable us to file for label expansion of melflufen in the US and submit for regulatory approval in the EU and the rest of world".

As previously communicated Oncopetides is preparing an application for accelerated approval in Q2 2020 based on the results from the ongoing pivotal phase 2 study HORIZON, evaluating melflufen in RRMM patients. Recently announced topline results from HORIZON demonstrate an Overall Response Rate of 26 % in triple-class refractory patients.

Oncopeptides expects to present top line results from OCEAN later this year. Based on these pivotal phase 3 data, the Company intends to submit a supplemental New Drug Application (sNDA) to the US FDA in Q2 2021, followed by a submission of a Marketing Authorization Application (MAA) in Europe.

For more information, please contact:

Jakob Lindberg, CEO of Oncopeptides
E-mail: [email protected]
Telephone: +46 8 615 20 40

Rein Piir, Head of Investor Relations at Oncopeptides
E-mail: [email protected]
Cell phone: +46 70 853 72 92

The information in the press release is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on May 22, 2020 at 08.00 (CET).

About melflufen
Melflufen (melphalan flufenamide) is a first-in-class anti-cancer peptide-drug conjugate that rapidly delivers an alkylating payload into tumor cells. Melflufen is rapidly taken up by myeloma cells due to its high lipophilicity and is immediately cleaved by peptidases to deliver an entrapped hydrophilic alkylator payload. Peptidases play a key role in protein homeostasis and feature in cellular processes such as cell-cycle progression and programmed cell death. In vitro, melflufen is 50-fold more potent in myeloma cells than the alkylator payload itself due to the increased intracellular alkylator concentration. Melflufen displays cytotoxic activity against myeloma cell lines resistant to other treatments, including alkylators, and has also demonstrated inhibition of DNA repair induction and angiogenesis in preclinical studies.