On July 15, 2020 Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) reported entering into an agreement with a fund affiliated with institutional investors providing for a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to which Idera has sold shares of common stock (or common stock equivalents), together with accompanying warrants to purchase additional shares of common stock, for aggregate gross proceeds of $5.1 million (Tranche 1) (Press release, Idera Pharmaceuticals, JUL 15, 2020, View Source [SID1234561872]). The combined purchase price per share of common stock (or common stock equivalent) and accompanying full warrant was $1.845. The common stock warrants have an exercise price of $2.58 per share and a term of three years and are exercisable at any time or times, provided that the investors will be prohibited from exercising a common warrant for shares of common stock to the extent that the investors would beneficially own in excess of 19.99% of the total number of shares of common stock then issued and outstanding (Beneficial Ownership Limitation).

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Pursuant to the agreement, the investors may, at their option, make a further investment of an additional $5.1 million to purchase shares of common stock equivalents, together with accompanying common stock warrants to purchase additional shares of common stock with 35% warrant coverage (Tranche 2). The combined purchase price per share of common stock (or common stock equivalent) and accompanying 0.35 warrant will be $6.50 per share. The common stock warrants, if issued, will have an exercise price of $9.75 per share, a term of three years and are exercisable at any time or times, provided that the investors will be prohibited from exercising a common warrant for shares of common stock to the extent that the investors would beneficially own in excess of the Beneficial Ownership Limitation.

The investors’ option to invest in Tranche 2 must occur no later than the tenth business day following the announcement of overall response rate data from the Company’s ILLUMINATE-301 trial of its lead product, tilsotolimod, in combination with ipilimumab for the treatment of anti-PD-1 refractory advanced melanoma. To the extent Tranche 2 is closed and inclusive of proceeds from the exercise of warrants issuable in this private placement, the Company may receive up to $20.0 million in gross proceeds.

The Company plans to use the initial proceeds and, if exercised, subsequent proceeds from the financing for the ongoing clinical development of tilsotolimod, its potential NDA filing and commercial launch, and for general corporate purposes.

The shares of common stock (or common stock equivalents) and warrants sold in the private placement have not been registered under the Securities Act of 1933, as amended, or under any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

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

About Tilsotolimod (IMO-2125)

Tilsotolimod is an investigational, synthetic Toll-like receptor 9 agonist. Intratumoral injection of tilsotolimod has been shown to promote both innate (Type-I IFN, antigen presentation) and adaptive (T cells) immune activation. Tumors with an active immune response appear to respond better to CPIs than those that exclude or inhibit anti-tumor immune cells. Tilsotolimod in combination with CPIs may cause regression of locally injected and distant tumor lesions and increase the number of patients who benefit from immunotherapy.

Tilsotolimod has received both Fast Track designation and Orphan Drug designation from the FDA and is being evaluated in multiple tumor types and in combination with multiple checkpoint inhibitors. For more information on tilsotolimod trials, please visit www.clinicaltrials.gov.

On July 15, 2020 West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, reported that the Company’s Board of Directors has approved a third-quarter 2020 dividend of $0.16 per share (Press release, West Pharmaceutical Services, JUL 15, 2020, View Source [SID1234561867]). The dividend will be paid on August 5, 2020, to shareholders of record as of July 29, 2020.

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On July 14, 2020 iOnctura SA, a clinical stage biopharmaceutical company, developing a pipeline of next generation molecules targeting cancer and fibrosis, reported that it has raised an additional EUR 5.1 million bringing the total Series A financing to EUR 20.1 million (Press release, iOnctura, JUL 14, 2020, View Source [SID1234640247]). New investor 3B Future Health Fund, previously known as Helsinn Investment Fund S.A., SICAR joins the existing blue chip investor syndicate of M Ventures, INKEF Capital, VI Partners, and Schroder Adveq, which all participated in the extension.

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The funding will enable iOnctura to accelerate development of its next generation dual immune and tumour targeting therapies. Data emerging from early clinical evaluation of its lead molecule IOA-244, a highly selective PI3Kδ-inhibitor, in solid tumours is expected to enable progress into a Phase Ib trial earlier than anticipated and preclinical development of its second program, IOA-289, an ATX-inhibitor with dual utility in organ specific and cancer associated fibrosis will be expedited into human testing in early 2021. iOnctura has recently strengthened its team with the appointment of Dr. Joanna Horobin as Chair. Joanna is an accomplished drug developer and biotech leader with over 35 years of experience in the pharmaceutical and biotech sector in Europe and the US.

Catherine Pickering, Chief Executive Officer of iOnctura, said: "I am pleased to welcome 3B Future Health Fund to our strong investor syndicate. This oversubscribed Series A round provides further validation and support of our strategy as we progress our novel, highly selective, PI3Kδ inhibitor and our differentiated ATX inhibitor through clinical development."

Riccardo Braglia, 3B Future Health Fund Chairman and Helsinn Group Vice Chairman and Chief Executive Officer, commented: "We look to invest in early-stage companies which are developing novel treatments in areas of high unmet patient need. We have been very impressed with the world class team at iOnctura and the potential of its next generation molecules targeting cancer and fibrosis."

On July 14, 2020 Acepodia, a biotechnology company developing cancer immunotherapies based on its novel Antibody-Cell Conjugation (ACC) technology platform and JW Therapeutics, a biotechnology company focusing on the development, transformation and promotion of cell immunotherapy, have reported a collaboration to develop and commercialize ACE1702 and ACE1655, two of Acepodia’s cell therapy candidates for the treatment of solid tumors and hematologic malignancies, respectively, in Mainland China, Hong Kong, and Macau (Press release, Acepodia, JUL 14, 2020, View Source [SID1234616138]). Acepodia will receive upfront and milestone payments in addition to royalties on sales

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Acepodia’s allogeneic cell therapy platform is based on optimizing its proprietary, potent and off-the-shelf natural killer cell line (oNK cells) with tumor-targeting mechanisms through its antibody-cell conjugation (ACC) technology that links antibodies directly to the surface proteins of immune cells to enhance their tumor-killing ability.

"We are excited to partner with Acepodia to advance NK cell-based therapies through the clinic, with the goal of eventually introducing these innovative therapies to patients. Acepodia has applied a broad and integrative approach to providing more potential clinical treatment options for solid tumors and hematologic malignancies, with the ability to scale up production of these targeted cell-therapies, as needed," said James Li, M.D., chief executive officer of JW Therapeutics.

Sonny Hsiao, Ph.D., chief executive officer of Acepodia added, "This partnership perfectly captures the synergies between Acepodia and JW Therapeutics. By combining our research capabilities and novel cell therapy platform with JW Therapeutics’ translational cancer immunology research and development capacity, this collaboration is aptly suited to develop and commercialize our oNK cell therapies in these regional markets. We look forward to working with JW Therapeutics to advance these therapies through the clinic, maximizing their allogeneic and ‘off-the-shelf’ treatment potential."

On July 14, 2020 Macomics Ltd, an immuno-oncology company with world-leading expertise in macrophage biology, reported that it launches with a £3.2 million seed financing round led by transatlantic VC Epidarex Capital, with the Scottish Investment Bank, the investment arm of Scottish Enterprise, also investing (Press release, Macomics, JUL 14, 2020, View Source [SID1234572349]). Company formation and in-licensing of the technology has been facilitated by Edinburgh Innovations, the commercialisation service for the University of Edinburgh. Macomics, which was spun out from the University of Edinburgh, will use the proceeds of this fundraising round to develop novel, first-in-class immunotherapies designed to modulate macrophages, increasing the body’s immune defence against tumours.

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Macomics’ approach is based on leading academic research around macrophage biology, particularly in cancer, from the laboratory of Professor Jeffrey Pollard, Director of the MRC Centre for Reproductive Health at the University of Edinburgh, working with co-founder Dr Luca Cassetta.

Cancer cells are known to be able to evade destruction by the immune system and tumour associated macrophages (TAMs) are a key component of this immuno-suppressive and pro-tumoral ecosystem. Modulating TAMs will alter the tumour microenvironment enhancing the body’s ability to fight cancer. Using its proprietary technology, Macomics has identified novel targets that are highly upregulated in TAMs compared to other cell types, providing a great opportunity to selectively target the tumours.

In parallel with the financing, Macomics has appointed biotechnology industry experts Dr Robert Haigh and Dr Jane Dancer as CEO and Non-Executive Director respectively. Dr Robert Haigh has worked extensively in R&D in the pharmaceutical and biotechnology industry, with roles at Ferring and Boehringer Ingelheim, where he was involved in oncology research. He was pivotal in the formation and development of Vantia Therapeutics and KalVista, including fundraising and business development deals. Dr Haigh is also the Executive Chairman of Ikarovec, an ophthalmology-focused gene therapy company. Dr Jane Dancer is a business development expert with over 30 years’ experience in the life science industry across biotech, pharma and agrochemicals. She was formerly Chief Business Officer at F-star, VP Business Development at Cellzome and Director, Business Development at Cambridge Antibody Technology Ltd.

Professor Jeffrey Pollard, Founder Director of Macomics & Director of the MRC Centre for Reproductive Health at the University of Edinburgh said, ‘Decades of research into macrophage biology, particularly that of tumour-associated macrophages, have made it very clear to me that this is an area of significant untapped potential for the development of novel cancer therapeutics. The creation of Macomics based on the research of my group at the University of Edinburgh provides the team with an exciting opportunity to develop new effective cancer drugs against macrophage targets, that will bring real clinical benefit to many more patients suffering from cancer.’

‘We have known Jeff and his team and followed their world-leading research in macrophage biology for some time and are delighted to be leading this investment that triggers the launch of Macomics. This is one of the first investments from our new Epidarex Capital III UK fund that was announced recently. Despite the good progress that immunotherapies have brought to the treatment of cancer, addressing the hostile tumour environment remains a major obstacle to achieving better clinical outcomes in a broader patient population. The macrophage-based approach that Macomics is pioneering has significant potential in the treatment of cancer, as recent deals in the tumour-associated macrophage area indicate. We look forward to working with the team to support Macomics’ growth and to help it realise the potential of its world-class science,’ said Dr Elizabeth Roper, Partner at Epidarex Capital & Investor Director at Macomics.

Dr Robert Haigh, CEO of Macomics, said, ‘With its seed financing round providing the funding to develop its tumour-associated macrophage target discovery platform and pipeline, this is an exciting time to be joining Macomics. I’d like to thank Epidarex, the Scottish Investment Bank and the University of Edinburgh for their support and look forward to working with them as we progress Macomics to provide novel, first-in-class drugs for cancer.‘

Kerry Sharp, Director, Scottish Investment Bank, said: ‘This is an extremely exciting immuno-oncology spin-out based on outstanding academic research. We are thrilled to support it alongside Epidarex Capital.’