Pascal Announces Re-pricing of Shares for Debt Settlement

On November 3, 2020 Pascal Biosciences, Inc. ("Pascal" or the"Company") (TSX VENTURE: PAS), a biotechnology company that specializes in cancer drug discovery and development, reported that it has re-priced the debt settlement agreements with certain nonarm’s length creditors (the "Debt Settlement Agreements) of the Company to settle an aggregate of Cdn $230,765 of debt (Press release, Pascal Biosciences, NOV 3, 2020, View Source [SID1234570274]). The Debt Settlement Agreements were announced on October 30, 2020. Consideration will be an aggregate of 1,153,825 common shares of the Company at a deemed price of Cdn $0.20 per share (the "Debt Settlement").

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The shares for debt transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("MI 61-101") as insiders of the Company will receive 1,648,321 common shares of the Company in connection with the Debt Settlement. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the shares for debt transaction with the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

The board and management of Pascal believe that the proposed Debt Settlement is in the best interests of the Company because it allows the Company to preserve its funds for operations.

The Debt Settlement will not create a new control person holding more than 20% of the issued and outstanding ordinary shares of the Company. The Debt Settlement is subject to the acceptance of the TSX Venture Exchange. The common shares issued pursuant to the Debt Settlement will be subject to a statutory four month and one day hold period.

Everest Medicines Announces First Patient Dosed in its Phase 2b Registration Clinical Trial of Trodelvy™ (sacituzumab govitecan) for Metastatic Triple-Negative Breast Cancer in China

On November 3, 2020 Everest Medicines (HKEX 1952.HK), a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other parts of Asia, reported that the first patient has been dosed in China into the EVER-132-001 Phase 2b registration clinical trial evaluating Trodelvy (sacituzumab govitecan, IMMU-132) for the treatment of patients with metastatic triple-negative breast cancer (mTNBC) who have received at least two prior therapies for metastatic disease (Press release, Everest Medicines, NOV 3, 2020, View Source [SID1234570165]).

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EVER-132-001 is a single-arm, multi-center Phase 2b registration clinical trial that is designed to evaluate the efficacy and safety of sacituzumab govitecan in Chinese patients with mTNBC who have received at least two prior systemic chemotherapy regimens. The primary endpoint of the trial will measure objective response rate (ORR) according to RECIST v 1.1 (a validated set of criteria to assess changes in tumor burden) by an Independent Review Committee. EVER-132-001 will enroll approximately 80 mTNBC patients in China in total.

In October 2020, sacituzumab govitecan was included in the updated 2020 China Guidelines for the Standardized Diagnosis and Treatment of Advanced Breast Cancer , compiled by the Breast Cancer Expert Committee of the National Cancer Control Center, the Breast Cancer Professional Committee of the Chinese Anti-Cancer Association, and the Cancer Drug Clinical Research Professional Committee of the Chinese Anti-Cancer Association.

"TNBC accounts for 15 to 20% of all breast cancers and is known to be the most aggressive subgroup with a high risk of recurrence. The large patient population with mTNBC in China represents a huge unmet medical need where few therapies besides the standard cytotoxic chemotherapy are available," said Yang Shi, Chief Medical Officer for Oncology at Everest Medicines. "Clinical data generated to date suggest that sacituzumab govitecan could enable a new standard of care for patients with pre-treated mTNBC."

"Sacituzumab govitecan is an important advancement for patients as it is the first approved antibody drug conjugate (ADC) for mTNBC worldwide and the EVER-132-001 trial is an important first step towards fulfilling our promise to patients in China with mTNBC of a potential new treatment option that can meaningfully improve their lives," said Kerry Blanchard, MD, PhD, CEO of Everest Medicines. "We remain committed to working tirelessly to bring this potentially transformative medicine to all mTNBC patients in China."

About Sacituzumab Govitecan

Sacituzumab govitecan is a first-in-class antibody-drug conjugate (ADC) directed at TROP-2, a membrane antigen that is over-expressed in many common epithelial cancers. Sacituzumab govitecan was granted accelerated approval by the U.S. FDA in April 2020 for the treatment of patients with metastatic triple-negative breast cancer (mTNBC) who have received at least two prior therapies for metastatic disease. In September 2020 at the ESMO (Free ESMO Whitepaper) 2020 annual conference, Immunomedics (now part of Gilead Sciences, Inc.) presented the confirmatory Phase III trial (ASCENT) demonstrating that sacituzumab govitecan significantly improved PFS and OS over standard single agent chemotherapy in pre-treated mTNBC patients with hazard ratio of 0.41 and 0.48, respectively. Under a licensing agreement with Immunomedics, Everest Medicines has exclusive rights to develop, register, and commercialize sacituzumab govitecan for all cancer indications in Greater China, South Korea, and certain Southeast Asian countries.

About Triple-Negative Breast Cancer

Triple-Negative Breast Cancer (TNBC) is a highly aggressive disease and accounts for approximately 15%-20% of all breast cancer types worldwide.i-iii The median age of breast cancer diagnoses tends to be younger in China than western countries, and the percentage of TNBC molecular subtype has been increasing in the past 10 years. TNBC cells lack sufficient estrogen, progesterone or HER2 receptor expression to benefit from the use of hormonal or HER2-directed therapy. Overall survival among patients with this form of breast cancer has not changed in the past 20 years, which highlights the need for advances in therapeutic options for these patients.iv-viii

LianBio Announces Clearance to Initiate the Phase 3 PROOF Trial of Infigratinib in Patients with Locally Advanced or Metastatic Unresectable Cholangiocarcinoma with FGFR2 Gene Fusions in China

On November 3, 2020 LianBio, a biotechnology company focused on bringing paradigm-shifting medicines to patients in China and major Asian markets, reported that it has received clearance from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) to conduct the Phase 3 PROOF trial of infigratinib, a potential first-line treatment for patients with locally advanced or metastatic unresectable cholangiocarcinoma with FGFR2 gene fusions (Press release, LianBio, NOV 3, 2020, View Source [SID1234570146]). LianBio has in-licensed infigratinib from BridgeBio Pharma, Inc. and is responsible for the registration application, clinical development and future commercial operations of the product candidate in Mainland China, Hong Kong and Macau.

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Infigratinib is an investigational innovative, oral, selective and potent inhibitor of fibroblast growth factor receptor (FGFR) 1-3 with well-defined novel chemical structures and pharmacological effects, currently under Phase 3 global development by BridgeBio. In a separate clinical trial investigating infigratinib for patients with FGFR2-fusion positive cholangiocarcinoma who had progressed on gemcitabine-based therapy, infigratinib demonstrated an overall response rate of 27% [1]. The Phase 3 PROOF trial is a multicenter, randomized and controlled study designed to evaluate the pharmacokinetic profile, efficacy, and safety of infigratinib in patients with locally advanced or metastatic unresectable cholangiocarcinoma with FGFR2 gene fusions.

"This clearance by the China NMPA highlights the efficiency of LianBio’s operational model to bring cutting-edge technology to China," said Dr. Bing Li, Chief Executive Officer of LianBio. "Untreated cholangiocarcinoma is usually fatal, with only 50% of patients surviving for one year. Given the severity of the disease and increasing prevalence in China, there is a high urgency to bring innovative treatments to this patient population. Supported by our partner BridgeBio, LianBio is well-positioned to advance the clinical development of this product candidate."

Reference
1. Javle M. et al. A phase II study of infigratinib (BGJ398), an FGFR-selective tyrosine kinase inhibitor (TKI), in patients with previously-treated advanced cholangiocarcinoma containing FGFR2 fusions; ESMO (Free ESMO Whitepaper) 2018 Annual Meeting. Poster #LBA28.

JW Therapeutics Completes $300 Million Hong Kong IPO for CAR-T Products

On November 3, 2020 JW Therapeutics, a Shanghai cell therapy company, reported that it raised $300 million in its Hong Kong IPO at a market capitalization of $1 billion (Press release, JW Therapeutics, NOV 3, 2020, View Source [SID1234570143]). In 2016, JW was founded as a JV between Juno Therapeutics of Seattle and WuXi AppTec to bring Juno’s CAR-T candidates to China. The company’s NDA for its lead candidate, an anti-CD19 CAR-T therapy, is under review in China as a third-line treatment for B-cell lymphoma. JW priced its IPO at HK$23.80, the top of the expected range, but it slipped to HK$22 in its first trading session.

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Cumberland Pharmaceuticals To Announce Third Quarter 2020 Financial Results

On November 3, 2020 Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported that it will release third quarter 2020 financial results and Company update after the market closes on Tuesday, Nov. 10, 2020 (Press release, Cumberland Pharmaceuticals, NOV 3, 2020, View Source [SID1234569790]). A conference call and live internet webcast will be held on Tuesday, Nov. 10, 2020, at 4:30 p.m. Eastern Time to discuss the results.

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To participate in the call, please dial 877-303-1298 (for U.S. callers) or 253-237-1032 (for international callers). A rebroadcast of the teleconference will be available for one week and can be accessed by dialing 855-859-2056 (for U.S. callers) or 404-537-3406 (for international callers). The Conference ID for the rebroadcast is 4484046. The live webcast and rebroadcast can be accessed via Cumberland’s website at View Source