On June 10, 2020 Linnaeus Therapeutics, Inc. (Linnaeus), a privately held clinical-stage biopharmaceutical company focused on the development and commercialization of novel small molecule oncology therapeutics, reported that its scientific cofounders, Christopher Natale, PhD, Vice President of Research at Linnaeus and Todd Ridky, MD, PhD, Assistant Professor of Dermatology at the Perelman School of Medicine at the University of Pennsylvania, presented their findings on a new therapeutic target for pancreatic cancer in the journal Cellular and Molecular Gastroenterology and Hepatology (View Source) (Press release, Linnaeus Therapeutics, JUN 10, 2020, View Source [SID1234561057]).

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The peer-reviewed article, entitled "Pharmacologic Activation of G Protein-Coupled Estrogen Receptor Inhibits Pancreatic Ductal Adenocarcinoma" was authored by Natale et al. Using a small molecule agonist of the G protein-coupled estrogen receptor (GPER), the authors demonstrated that GPER activation inhibits the growth of multiple pancreatic ductal adenocarcinoma cancer (PDAC) models and has combinatorial effects with immune checkpoint inhibitors. The authors also demonstrated that GPER protein can be detected in a large percentage of clinical specimens, suggesting that GPER may represent a new therapeutic target for PDAC.

"It’s exciting to learn that the anticancer activity we observed with GPER agonists in our first studies in melanoma models extends to pancreatic cancer and many other cancer types and that these agents have a therapeutic synergy with modern immunotherapy. We are eager to continue working to identify new cancer types that could be targeted using GPER agonists," said Dr. Natale. "We are excited to see if these data translate to our current phase 1/2 clinical trial in patients with advanced cancer.

About LNS8801

LNS8801 is an orally bioavailable and highly specific agonist of GPER whose activity is dependent on the expression of GPER. GPER activation suppresses well-known tumor-associated genes, such as c-Myc and PD-L1. In preclinical cancer models, LNS8801 displays potent antitumor activities across a wide range of tumor types, rapidly shrinking tumors and inducing immune memory. LNS8801 monotherapy has shown significant antitumor activity, including inducing complete responses that are immune to rechallenge. LNS8801 also has shown effects when combined with targeted therapies and immunotherapies. LNS8801 is currently in a phase 1/2 clinical trial in patients with advanced cancer at six comprehensive cancer centers in the United States.

On June 10, 2020 Mustang Bio, Inc. ("Mustang") (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, reported that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering (Press release, Mustang Bio, JUN 10, 2020, View Source [SID1234561005]). Mustang expects to grant the underwriters a 30‐day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. All of the shares of common stock are being offered by the Company. Mustang intends to use the net proceeds from the offering primarily for the continued development of its product candidates, the potential in‐license, acquisition, development and commercialization of other pharmaceutical products and for general corporate purposes. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering.

A shelf registration statement on Form S‐3 (File. No. 333-233350) (the "Registration Statement") relating to the shares of common stock being offered was filed with the U.S. Securities and Exchange Commission ("SEC") and was declared effective on September 30, 2019. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-mail at [email protected]; or the on the SEC’s website at View Source

The offering will be made only by means of a prospectus. A final prospectus supplement to the base prospectus describing the terms of the offering will be filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.

On June 10, 2020 Adagene Incorporated, a precision antibody engineering, discovery and development company, and Tanabe Research Laboratories U.S.A., Inc. (TRL), a subsidiary of Mitsubishi Tanabe Pharma Corporation (MTPC), reported that the companies have entered into a strategic collaboration under which TRL will use Adagene’s SAFEbody technology platform to generate a masked antibody in combination with the cytotoxic payload technologies used at TRL, for the development of an ADC against a solid tumor target (Press release, Adagene, JUN 10, 2020, View Source [SID1234560985]).

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Adagene has developed the SAFEbody technology platform for discovery of a masked antibody which is activated by factors present in tumor tissues but not in healthy tissues. This allows for the tumor-specific targeting of antibodies with minimized on-target toxicity in healthy tissues. The tumor-specific targeting technology is expected to safely enhance the therapeutic index of the ADC delivery of the cytotoxic payload.

"We look forward to combining our SAFEbody technology with TRL’s ADC technologies to develop a treatment for a solid tumor target," said Peter Luo, Chief Executive Officer and Co-Founder of Adagene. "Adagene’s precision protein engineering capabilities enable us to create highly masked antibodies while retaining their efficacy. Traditional ADC technologies are limited in most solid tumor targets because toxicity was observed at optimal efficacious doses. Our new modality, POWERbody, combining SAFEbody with ADCs, aims to deliver safe and potent therapies toward a wide range of targets."

Financial terms and target identification were not disclosed.

On June 10, 2020 Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company in Clean Health and Beauty markets through its consumer brands and a top supplier of sustainable and natural ingredients, reported the closing of its previously announced private investment in public equity (PIPE) in the Company (Press release, Amyris Biotechnologies, JUN 10, 2020, View Source [SID1234560984]).

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Amyris received total gross proceeds of $200 million, before deducting placement agent fees and offering expenses.

The investment was made by a consortium of high quality institutional and accredited investors and mutual funds with expertise in health care, biotechnology or a consumer orientation consisting of approximately 70% new investors and 30% existing investors. The Company expects to use the proceeds from the offering for general corporate purposes and to repay certain outstanding indebtedness.

Jefferies LLC and Cowen and Company, LLC served as joint lead placement agents for the financing. Oppenheimer & Co. Inc. served as co-placement agent.

Separately, H.C. Wainwright & Co. provided advisory services to the Company.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the "SEC") registering the resale of the shares of common stock sold in the private placement and the shares of common stock issuable upon exercise of the preferred stock.

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.

Additional details regarding the private placement are included in a Form 8-K filed with the Securities and Exchange Commission on June 4, 2020.

On June 10, 2020 PharmAbcine Inc. (KOSDAQ: 208340ks) reported that it has entered into a strategic partnership with Thermo Fisher Scientific for the development and manufacturing of PMC-309, a next-generation immune checkpoint blockade to treat cancer (Press release, PharmAbcine, JUN 10, 2020, View Source [SID1234560982]).

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Under this agreement, PharmAbcine will take advantage of Thermo Fisher’s Quick to Clinic integrated service offering, a program that accelerates drug development for IND submission for Phase I.

PMC-309 is a novel fully human monoclonal IgG targeting unique epitope of human VISTA (V-domain Ig suppressor of T cell activation) primarily expressed on MDSC (myeloid-derived suppressor cells). It can provide a promising immunotherapeutic strategy to improve the antitumor activity through inhibition of VISTA-positive immunosuppressive cell activities.

"Due to the limitation of response rate and drug resistance of all marketed PD1/PDL1 targeting immuno oncology drugs, next generation immuno oncology drug with new modality is desperately needed," said Dr. Jin-San Yoo, CEO of PharmAbcine. "We are excited about the progress we have made with PMC-309 and strongly believe that PMC-309 will fulfill the gap in immuno oncology drug landscape."

The drug product of PMC-309 for clinical trial will be developed at Thermo Fisher’s Princeton, NJ, USA and the Brisbane’s site in Australia will facilitate for the drug substances. PharmAbcine is planning to initiate IND enabling studies this year and submit global IND in 2021.