On May 3, 2021 Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, reported the appointment of Richard Paulson as Karyopharm’s President and Chief Executive Officer, effective May 3, 2021 (Press release, Karyopharm, MAY 3, 2021, View Source [SID1234578977]). Mr. Paulson will also remain a member of the Board of Directors. He will succeed Michael G. Kauffman, MD, PhD, as Chief Executive Officer and Sharon Shacham, PhD, MBA, as President. Dr. Kauffman will continue in his role as a member of the Board of Directors and assume a new role with the Company as Senior Clinical Advisor. Dr. Shacham will continue in her roles as Chief Scientific Officer overseeing research, development and regulatory affairs and as Chair of the Company’s Scientific Advisory Board. Mr. Paulson, who most recently served as Executive Vice President of Ipsen Pharmaceuticals, Inc. and Chief Executive Officer of Ipsen North America, a global biopharmaceutical company focused on innovation and specialty care, has been a member of Karyopharm’s Board of Directors since February 2020 and brings over 25 years of global biopharmaceutical industry experience, including various international leadership roles transforming organizations and developing highly successful teams across three continents, where he has launched best-in-class products across multiple therapeutic areas including oncology medicines.

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"I am honored to serve as Karyopharm’s next President and Chief Executive Officer and can’t thank Drs. Kauffman and Shacham enough for their vision, leadership, and immense contributions to the scientific and initial commercial success achieved by Karyopharm," said Mr. Paulson. "Under Michael and Sharon’s leadership, the Company’s lead medicine, XPOVIO, has received three separate FDA approvals in the past two years, along with an approval in the European Union, and the resulting impact on improving the lives of patients with cancer has been remarkable."

Mr. Paulson continued, "As Karyopharm is now at a pivotal point in its commercialization efforts, I am excited to lead the Company in its next chapter of growth and innovation as we seek to expand XPOVIO’s impact across indications and geographies. Importantly, Karyopharm’s culture is rooted in a commitment to patients, which is in complete alignment with my personal value system. I look forward to leveraging my experience in global product commercialization and executive leadership to further advance Karyopharm’s impact on patients and their caregivers with the goal of continuing to build our myeloma franchise and expand into additional hematologic and solid tumor indications."

In Dr. Kauffman’s new role as Senior Clinical Advisor, he will help guide additional clinical development for Karyopharm’s robust pipeline of programs, with an increasing focus on solid tumor indications.

"It has been the privilege of a lifetime to help found and lead Karyopharm, along with Dr. Sharon Shacham, over the past twelve years," said Dr. Kauffman. "With three FDA approvals as well as our first marketing authorization in Europe, I believe now more than ever that flawless commercial execution will be imperative for Karyopharm to achieve its long-term goals. Having worked closely with Richard over the past year, I am confident that he is extremely well positioned to lead Karyopharm as we continue the important work ahead for the Company. Richard has a tremendous track record of success in leading commercial companies and I look forward to working with him as our Company’s next CEO."

"Mr. Paulson is a passionate, highly accomplished biopharmaceutical leader whose understanding of the commercial oncology space will be critical to Karyopharm as we seek to expand our commercial reach," said Barry Greene, Karyopharm’s lead independent director and Chair of the Nominating, Corporate Governance & Compliance Committee. "Having worked directly with Richard as a fellow Board member, we are thrilled to have him take on an even greater role as Karyopharm’s next Chief Executive Officer and on behalf of the entire Board, I would like thank both Michael and Sharon for their tremendous leadership and dedication to Karyopharm’s past and future success."

About Richard Paulson

Mr. Paulson has served as a member of Karyopharm’s Board of Directors since February 2020. He was previously an Executive Vice President of Ipsen Pharmaceuticals, Inc. and Chief Executive Officer of Ipsen North America, a global biopharmaceutical company focused on innovation and specialty care in areas of oncology, neuroscience and rare diseases, from February 2018 to May 2021. Mr. Paulson previously worked at Amgen for 10 years holding varying leadership positions across Europe and North America, including Vice President and General Manager of Amgen’s U.S. Oncology Business Unit, and prior to that served as the Vice President of Marketing for Amgen’s U.S. Oncology Business, General Manager of Amgen Germany, and General Manager of Amgen Central & Eastern Europe. Prior to Amgen, Mr. Paulson held a number of global leadership positions at Pfizer Inc., including serving as General Manager of Pfizer South Africa and Pfizer Czech Republic. Mr. Paulson also previously held a variety of sales, marketing, and market access roles with increasing seniority at GlaxoWellcome in Canada. Mr. Paulson has an MBA from the University of Toronto, Canada and an undergraduate degree in commerce from the University of Saskatchewan, Canada.

On May 3, 2021 Labcorp (NYSE: LH), a leading global life sciences company, reported that it has entered into a definitive agreement to acquire select operating assets and intellectual property (IP) from Myriad Genetics’ autoimmune business unit, including the Vectra rheumatoid arthritis (RA) assay (Press release, LabCorp, MAY 3, 2021, View Source [SID1234578976]). More than one million Vectra tests have been completed since the product’s launch in November 2010, and a meaningful portion of testing volume currently flows through Labcorp.

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"Labcorp has consistently been a major player in rheumatology and continues to focus on providing medical professionals with the data they need to best treat their RA patients," said Brian Caveney, M.D., chief medical officer and president of Labcorp Diagnostics. "The addition of the Vectra testing capabilities to our in-house products offers tremendous potential for us to expand the test’s availability and make Labcorp a single-source diagnostics solution for RA providers. We look forward to welcoming the team to Labcorp."

Vectra is a non-invasive, blood-based test that analyzes 12 biomarkers to measure RA disease activity. It combines those measures to generate an easy-to-understand score, which indicates the severity of RA inflammation and how well current treatments are working. It also can predict potential, future joint damage. This enables the 5,000 practicing rheumatologists in the U.S. to provide targeted treatment and adjust existing treatments to better manage RA symptoms.

Rheumatoid arthritis, an autoimmune disorder and one of the most common forms of arthritis, causes painful inflammation and tissue damage in the knees, wrists, and other joints. The U.S. Centers for Disease Control and Prevention project that, by 2040, roughly 26% of the country’s adult population will be living with doctor-diagnosed arthritis such as RA.

The acquisition of the Vectra test and related IP and other assets complements Labcorp’s prior business activity aimed at bolstering its scientific leadership in RA testing and treatment.

The transaction is expected to close by the end of the third quarter, subject to customary closing conditions and regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Specific terms of the transaction were not disclosed. Hogan Lovells acted as legal advisor to Labcorp.

On May 3, 2021 Herantis Pharma Plc ("Herantis"), focusing on disease modifying therapies for debilitating neurodegenerative diseases, reported that Dr. Craig Cook, Chief Executive Officer, will hold 1×1 meetings and have a digital company presentation at the following virtual investor conferences (Press release, Herantis Pharma, MAY 3, 2021, View Source,c3338722 [SID1234578960]).

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Event Details:

Redeye Investor Forum Online

Date: 11 May 2021

Bio€quity Europe

Dates: 17 – 19 May 2021

ABGSC Life Science Summit

Date: 25 May 2021

Presentation Time: 11:00 – 11:30 a.m. CEST / 12:00 – 12:30 EEST

All presentations will be available via a digital library, which is accessible to event participants only. Please contact the organizers at the Redeye, Bio€quity Europe, and ABGSC if you wish to attend and/or schedule a meeting with Herantis.

On May 3, 2021 Genmab A/S (Nasdaq: GMAB) reported the initiation of a share buy-back program to mitigate dilution from warrant exercises and to honor our commitments under our Restricted Stock Units program (Press release, Genmab, MAY 3, 2021, View Source [SID1234578959]).

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The share buy-back program is expected to be completed no later than June 30, 2021 and comprises up to 200,000 shares.

The following transactions were executed under the program from April 26, 2021 to April 30, 2021:

Details of each transaction are included as an appendix to this announcement.

Following these transactions, Genmab holds 231,877 shares as treasury shares, corresponding to 0.35% of the total share capital and voting rights.

The share buy-back program is undertaken in accordance with Regulation (EU) No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the "Safe Harbour Regulation." Further details on the terms of the share buy-back program can be found in our company announcement no. 11 dated February 23, 2021.

On May 2, 2021, Sonnet BioTherapeutics, Inc. (the "Company") reported that it has entered into a License Agreement (the "Agreement") with New Life Therapeutics PTE, LTD., a company organized under the laws of Singapore ("New Life") (Filing, 8-K, Sonnet BioTherapeutics, MAY 2, 2021, View Source [SID1234579515]). Pursuant to the Agreement, Sonnet granted New Life an exclusive license (with the right to sublicense) to develop and commercialize pharmaceutical preparations containing a specific recombinant human interleukin-6 (or any derivatives, fragments or conjugates thereof) (the "Compound") (such preparations, the "Products") for the prevention, treatment or palliation of diabetic peripheral neuropathy in humans (the "DPN Field") in Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, and Brunei (the "Exclusive Territory"). New Life may exercise the option to expand (1) the field of the exclusive license to include the prevention, treatment or palliation of chemotherapy-induced peripheral neuropathy in humans (the "CIPN Field"), which option is non-exclusive and will expire on December 31, 2021; and/or (2) the territorial scope of the license to include the People’s Republic of China, Hong Kong and/or India, which option is exclusive and will also expire on December 31, 2021. Sonnet is excluded from developing, using, selling or otherwise commercializing any Compounds or Products for use in the DPN Field in the Exclusive Territory during the term of the Agreement.

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The Company retains all rights to manufacture Compounds and Products anywhere in the world. The Company and New Life shall enter into a follow-on supply agreement pursuant to which the Company shall supply to New Life Productsfor development and commercialization thereof in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory on terms to be negotiated by the parties..

Pursuant to the terms of the Agreement, New Life will bear the cost of, and be responsible for, among other things, conducting clinical studies and additional non-clinical studies (if any, subject to both parties’ approval), preparing and filing applications for regulatory approval and undertaking other developmental and regulatory activities for and commercializing Products in the DPN Field (and the CIPN Field, if applicable) in the Exclusive Territory. New Life will own and maintain all regulatory filings and approvals for Products in the Exclusive Territory.

In consideration of the license and other rights granted by the Company, New Life will pay the Company, within 30 days of the date of the Agreement, a $500,000 upfront cash payment and is obligated to pay a deferred license fee of an additional $1,000,000 at the time of the satisfaction of certain milestones as well as potential additional milestone payments to the Company totaling up to $19,000,000 subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double digit royalties ranging from 12% to 30% based on annual net sales of Products in the Territory. The "Royalty Term" means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DIPN Field (or CIPN Field, if applicable). In the event New Life (i) files for an initial public offering or (ii) is subject to a Change of Control, the royalty obligations may be converted to equity subject to mutual agreement of the parties.

In addition, New Life shall pay to the Company a percentage, in the double digits, of all revenue received through sub-licensing of each Product, subject to certain exclusions.

Sonnet retains the sole responsibility to pay its third party licensors to the extent such obligations are applicable to the rights granted to New Life with respect to the Products and shall remain liable for all obligations under the license related to the Compounds and Products between Sonnet and ARES Trading SA.

The Agreement will remain in effect on a Product-by-Product, country-by-country basis and will expire upon the expiration of the Royalty Term for the last-to-expire Product in the last-to-expire country, subject to (i) each party’s early termination rights including for material breach or insolvency or bankruptcy of the other party and (ii) the Company’s Buy Back Right and New Life’s Give Back Right (as defined below).

In addition, New Life granted to the Company an exclusive option to buy back the rights granted by the Company to New Life and the Company granted New Life the right to give back the rights with respect to Products in the DPN Field and/or the CIPN Field (if applicable) in one or more countries in the Exclusive Territory on terms to be agreed upon, which options will expire upon the initiation of a Phase III Trial for the applicable Product.

Pursuant to the Agreement, the parties agreed to develop a joint development committee to provide strategic oversight of the parties’ collaboration activities under the Agreement, including to coordinate the development of Licensed Products in the Territory.

The Agreement also contains customary representations, warranties and covenants by both parties, as well as customary provisions relating to indemnification, confidentiality and other matters.

The foregoing description of the terms of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2021.