December 6, 2021 MaaT Pharma S.A. ("MaaT Pharma" or the "Company"), a French clinical-stage biotech and a pioneer in the development of microbiome[1]-based ecosystem therapies dedicated to improving survival outcomes for patients with cancer, reported the partial exercise of the Over-Allotment Option in the context of the Company’s initial public offering on the regulated market of Euronext Paris (code ISIN : FR0012634822- ticker: MAAT) (Press release, MaaT Pharma, DEC 6, 2021, View Source [SID1234596486]).

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On December 3, 2021, Joint Global Coordinator and Joint Bookrunner, Portzamparc BNP Paribas, acting as stabilization agent, partially exercised the Over-Allotment Option resulting in the issuance of 314,055 additional new shares (out of a maximum of 349,999 shares) for a total amount of c. €4.2m, at the offering price of €13.50 per share.

As a result, the total number of MaaT Pharma shares offered in the context of the Company’s IPO amounts to 2,647,388 shares, thus increasing the size of the offering to c. €35.7m after the settlement-delivery of the additional new shares scheduled on December 7, 2021.

Following the settlement-delivery of the additional new shares, MaaT Pharma’s share capital will consist of 9,828,835 shares.

In addition, in accordance with the provisions of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and with Article 6 of the EU Delegated Regulation 2016/1052 of March 8, 2016, regarding conditions applicable to share buy-back programmes and stabilisation measures, Portzamparc BNP Paribas, acting as stabilization agent, declares having carried out the following stabilization operations on the Company’s shares:

The stabilization period began on November 8, 2021 and ended on December 3, 2021. The final stabilization operation was carried out on December 3, 2021. The stabilization transactions were carried out under the following conditions:

Trade date Intermediary Buy/Sell Daily total of shares Weighted average price (in EUR) Lowest / Highest price (in EUR) Aggregate amount (in EUR) Market
08/11/2021 Portzamparc Buy 6 453 13.5 13.5 87 115.50 Euronext Paris
09/11/2021 Portzamparc Buy 250 13.5 13.5 3 375.00 Euronext Paris
10/11/2021 Portzamparc Buy 820 13.5 13.5 11 070.00 Euronext Paris
11/11/2021 Portzamparc Buy 1 111 13.5 13.5 14 998.50 Euronext Paris
12/11/2021 Portzamparc Buy 2 520 13.5 13.5 34 020.00 Euronext Paris
15/11/2021 Portzamparc Buy 5 050 13.3812 13.3 / 13.5 67 575.06 Euronext Paris
16/11/2021 Portzamparc Buy 904 13.3272 13.2 / 13.5 12 047.79 Euronext Paris
17/11/2021 Portzamparc Buy 1 550 13.0388 12.6 / 13.5 20 210.14 Euronext Paris
18/11/2021 Portzamparc Buy 2 722 13.1242 12.7 /13.5 35 724.07 Euronext Paris
19/11/2021 Portzamparc Buy 295 13.4486 13.4 / 13.5 3 967.34 Euronext Paris
22/11/2021 Portzamparc Buy 0 – Euronext Paris
23/11/2021 Portzamparc Buy 208 13.3885 13.35 / 13.45 2 784.81 Euronext Paris
24/11/2021 Portzamparc Buy 90 13.3222 13.1 / 13.4 1 199.00 Euronext Paris
25/11/2021 Portzamparc Buy 340 13.2824 13.1 / 13.3 4 516.02 Euronext Paris
26/11/2021 Portzamparc Buy 582 12.9768 12.85 / 13.2 7 552.50 Euronext Paris
29/11/2021 Portzamparc Buy 725 12.413 12.3 / 12.8 8 999.43 Euronext Paris
30/11/2021 Portzamparc Buy 2381 11.9515 11.3 / 12.8 28 456.52 Euronext Paris
01/12/2021 Portzamparc Buy 513 12.9397 12.85 / 12.95 6 638.07 Euronext Paris
02/12/2021 Portzamparc Buy 200 12.77 12.6 / 13 2 554.00 Euronext Paris
03/12/2021 Portzamparc Buy 9230 13.2248 12.8 / 13.5 122 064.90 Euronext Paris

Share Ownership

Following the IPO and the partial exercise of the Over-Allotment Option, the share ownership and voting rights is as follows (to the Company’s best knowledge) :

After the exercise of the Over-Allotment Option
Shareholders Total number of shares % of share capital and voting rights
Hervé Affagard 133 848 1.36%
Total legal representatives 133 848 1.36%
Fonds Seventure 2 345 236 23.86%
Crédit Mutuel Innovation SAS 1 412 364 14.37%
Biocodex SAS 977 905 9.95%
Symbiosis LLC 2 027 702 20.63%
FPCI Fonds PSIM 1 177 439 11.98%
Other investors 368 883 3.75%
Total historical shareholders 8 309 529 84.54%
Employees and consultants 248 838 2.53%
Treasury shares 0 0.00%
Floating 1 136 620 11.56%
TOTAL 9 828 835 100.00%

Availability of the Prospectus

The Registration Document of the Company approved by the AMF on October 1, 2021, under the number I.21-057, the supplement of the Registration Document approved by the AMF on October 14, 2021, under the number I.21-061, the Security Notes and the summary of the Prospectus are available free of charge and on simple request from MaaT Pharma and on the following websites: amf-france.org and investir.maatpharma.com. The approval of the Prospectus should not be considered as an endorsement on the securities offered or admitted to trading on the regulated market of Euronext Paris.

[1] The microbiome (also called intestinal flora) refers to all the microorganisms (bacteria, archaea, yeasts, viruses, etc.) naturally present in the intestine. It plays a major role in the education and modulation of the immune system and in the metabolism.

On December 6, 2021 ITI reported that it will be virutally attending The 40th Annual Health Care Conference that will take place on January 10-13, 2022 at the Westin St. Francis in San Francisco, CA (Press release, Immunomic Therapeutics, DEC 6, 2021, View Source [SID1234596485]).

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This premier conference is the largest and most informative health care investment symposium in the industry which connects global industry leaders, emerging fast-growth companies, innovative technology creators and members of the investment community.

On December 6, 2021 ITI reported that it will be attending the 2nd International Symposium on Merkel Cell Carcinoma (Press release, Immunomic Therapeutics, DEC 6, 2021, View Source [SID1234596484]).

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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The focus of this symposium is to explore emerging data that may allow improvements in clinical guidelines, develop innovative approaches, and to understand the basic biology that drives this disease. We will include updates from the most recent clinical guidelines as well as emerging data highlighting MCC biology. This meeting will be partly in lecture format with talks from leaders in the field as well junior faculty and trainees. We will also include focused panel discussions and poster presentations to optimize real time feedback and collaboration. The educational purpose of this symposium is to disseminate emerging data and to advance MCC research by stimulating collaborative meeting.

On December 6, 2021 Roche (SIX: RO, ROG; OTCQX: RHHBY) reported that it completed the repurchase of Roche shares that had been held by Novartis. On 4 November 2021, Roche and Novartis had announced this repurchase (Press release, Hoffmann-La Roche, DEC 6, 2021, View Source [SID1234596483]). The Extraordinary General Meeting of Roche Holding Ltd passed the resolutions required for the repurchase and the capital reduction on 26 November 2021. In accordance with the respective resolution of the Extraordinary General Meeting of 26 November 2021, the 53,309,000 shares have now been repurchased by Roche and the corresponding consideration has been transferred to Novartis. The repurchased shares will be cancelled upon completion of the corresponding procedure.

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Christoph Franz, Chairman of the Board of Directors of Roche: "With this transaction, we regain full strategic flexibility without compromising our operational scope of action. Rating agencies have confirmed the high quality of our ratings. On the basis of an unchanged dividend policy, all holders of Roche equity securities will benefit from the repurchase and the resolved capital reduction by cancellation of the repurchased shares and the earnings accretion resulting therefrom."

As previously announced, the transaction does not change the communicated outlook for the full year. Roche expects a mid-single-digit sales growth at constant exchange rates. Core EPS growth at constant exchange rates is targeted to be broadly in line with sales growth. Furthermore, Roche is aiming at increasing the dividend in Swiss francs also for 2021.

On December 06, 2021 Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, reported that new data from the ongoing Phase 1 study of SRF617, an antibody targeting CD39, will be presented in a scientific poster at the European Society for Medical Oncology Immuno-Oncology Congress (ESMO-IO), to be held virtually from December 8-11, 2021 (Press release, Surface Oncology, DEC 6, 2021, View Source [SID1234596482]).

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"Results from this first-in-human dose-escalation study of SRF617 show promising signs of activity, both as a monotherapy and in combination with chemotherapy and pembrolizumab in both immune checkpoint naïve and experienced patients," said Alison O’Neill, M.D., chief medical officer. "We are currently enrolling Phase 2 cohorts for patients with PD-1 naïve gastric cancer and patients with PD-1 relapsed/refractory gastric or non-small-cell lung cancer (NSCLC) and look forward to opening first-line pancreatic cancer cohorts soon."

Safety Overview

The recommended Phase 2 dose for SRF617 monotherapy has been determined to be 1400 mg Q2W based on aggregate review of safety, clinical PK/PD and preclinical data.
No instances of dose-limiting toxicity were observed through dose escalation to the 1400 mg dose level.
Monotherapy Highlights

PK are linear and correlate strongly with PD target occupancy. SRF617 is well-tolerated at doses that sustain full target occupancy throughout the dosing interval and demonstrate dose-dependent loss of CD39 on B cells. Early data from a patient undergoing paired tumor biopsy show marked decrease of CD39 expression in the tumor microenvironment following SRF617 treatment.
Ten of 32 evaluable patients (31%) receiving SRF617 as a monotherapy had disease stabilization at eight weeks, with four (12%) persisting beyond 16 weeks.
One patient with NSCLC whose disease previously progressed on chemotherapy and PD-1 blockade had prolonged disease stabilization beyond 24 weeks.
Combination Highlights

The recommended Phase 2 dose for SRF617 in combination with pembrolizumab has also been determined to be 1400 mg Q2W.
Of patients treated with SRF617 in combination with pembrolizumab (KEYTRUDA), four of eight evaluable patients (50%) had disease stabilization at six weeks, with three of the eight exhibiting disease control at 12 weeks and one beyond 20 weeks.
Of patients treated with SRF617 in combination with gemcitabine/albumin-bound paclitaxel (Abraxane), there was one confirmed partial response in a patient with pancreatic cancer whose disease had progressed on prior chemotherapy. The SRF617 1400mg dose cohort is currently enrolling.
About the SRF617-101 Clinical Trial:

The trial is a Phase 1, open-label, multicenter, first-in-human dose-escalation trial of SRF617, a monoclonal antibody that binds and inhibits CD39 activity, in patients with advanced solid tumors. The monotherapy dose escalation portion of the study evaluates the safety, tolerability, pharmacokinetics (PK), pharmacodynamics, and preliminary efficacy of SRF617 as a monotherapy in patients with advanced solid tumors. The combination therapy dose escalation portion of the study evaluates the safety, tolerability, PK and preliminary efficacy of SRF617 in combination with gemcitabine + albumin-bound paclitaxel, or SRF617 in combination with pembrolizumab, in patients with locally advanced or metastatic solid tumors.

About SRF617:

SRF617 is a fully human antibody designed to inhibit the enzymatic activity of CD39 in the tumor microenvironment, allowing for a dual mechanism of action to promote anti-tumor immunity via reduction of immunosuppressive adenosine in addition to increasing levels of immunostimulatory ATP. A substantial body of research supports a role for CD39 in allowing cancer to evade immune responses. For example, pancreatic cancer stromal cells within the tumor micro-environment express high levels of CD39, which may inhibit anti-cancer immune responses. In preclinical studies, SRF617 has exhibited strong affinity for and inhibition of CD39, the ability to reduce adenosine and increase ATP levels and anti-tumor activity both as a single agent and in combination with multiple therapeutic agents. SRF617 has been granted Orphan Drug designation for the treatment of advanced pancreatic cancer by the FDA.