Apellis Announces Agreements to Exchange Approximately $107.5 Million in Principal Amount of Its 3.500% Convertible Senior Notes Due 2026 for Common Stock

On January 7, 2021 Apellis Pharmaceuticals, Inc. (Nasdaq:APLS), a global biopharmaceutical company and leader in targeted C3 therapies, reported that it has entered into separate, privately negotiated exchange agreements with certain holders of its 3.500% Convertible Senior Notes due 2026 issued in September 2019 (the "Notes") (Press release, Apellis Pharmaceuticals, JAN 7, 2021, View Source [SID1234573640]). Under the terms of these exchange agreements, the holders have agreed to exchange with Apellis approximately $107.5 million in aggregate principal amount of Notes held by them for (i) 2,232,808 shares of Apellis’ common stock, which is equal to 20.7792 shares per $1,000 principal amount of Notes exchanged plus (ii) an additional number of shares of Apellis’ common stock per $1,000 principal amount of Notes exchanged equal to the quotient of (a) $544.07 divided by (b) the average of the daily volume-weighted average prices of Apellis’ common stock over the ten consecutive trading days commencing on January 7, 2021. The exchange transactions are expected to close on January 25, 2021, subject to the satisfaction of customary closing conditions.

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The shares of Apellis’ common stock issuable in the exchanges have not been registered under the Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction, 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 such other jurisdictions.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

IGM Biosciences to Present at the 39th Annual J.P. Morgan Healthcare Conference

On January 7, 2021 IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, reported that Fred Schwarzer, Chief Executive Officer, will present at the 39th Annual J.P. Morgan Healthcare Conference on Thursday, January 14, 2021 at 11:40 a.m. ET (Press release, IGM Biosciences, JAN 7, 2021, View Source [SID1234573639]).

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A live webcast of the presentation will be available on the "Events and Presentations" page on the Company’s website at View Source A replay of the webcast will be archived on the Company’s website for 90 days following the presentation.

Soligenix Announces Strategic Partnership with Daavlin for Supply and Distribution of the SGX301 Companion Light Device in the Treatment of Cutaneous T-Cell Lymphoma

On January 7, 2021 Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, reported that it has signed an exclusive Supply, Distribution and Services Agreement with Daavlin (Press release, Soligenix, JAN 7, 2021, View Source [SID1234573638]). Securing long-term supply and distribution of a commercially ready light device is an integral component of the regulatory and commercial strategy for SGX301 (synthetic hypericin) for the treatment of cutaneous T-cell lymphoma (CTCL).

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Daavlin has a 40-year history of innovation and development in the field of phototherapy, providing an extensive line of products and services to health care providers and patients worldwide for the purposes of treating photoresponsive skin disorders such as psoriasis, vitiligo and now CTCL. The company’s corporate headquarters and manufacturing plant are located in Bryan, Ohio.

Pursuant to the Agreement, Daavlin will exclusively manufacture the proprietary light device for use with SGX301 for the treatment of CTCL. Upon approval of SGX301 by the US Food and Drug Administration (FDA), Soligenix will promote SGX301 and the companion light device, and facilitate the direct purchase of the device from Daavlin; and Daavlin will exclusively distribute and sell the SGX301 light device to Soligenix, physicians and patients.

"We are pleased to be partnering with a company like Soligenix that has such deep expertise in development of products for treating rare diseases such as CTCL," said Dave Swanson, Founder and Chief Executive Officer of Daavlin, "Our extensive history in the commercialization of phototherapy medical devices in both the US and Europe complements Soligenix as they bring SGX301 to CTCL patients in need."

"Daavlin brings technical, manufacturing and commercial capabilities in both the US and Europe that will assist us in rapidly and efficiently distributing the SGX301 companion light device upon approval by FDA," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. "Seamless integration of the drug product and companion light device for physicians and patients is critical to the commercial success of SGX301 and working with Daavlin will help us achieve that operational excellence."

About Cutaneous T-Cell Lymphoma (CTCL)

CTCL is a class of non-Hodgkin’s lymphoma (NHL), a type of cancer of the white blood cells that are an integral part of the immune system. Unlike most NHLs which generally involve B-cell lymphocytes (involved in producing antibodies), CTCL is caused by an expansion of malignant T-cell lymphocytes (involved in cell-mediated immunity) normally programmed to migrate to the skin. These malignant cells migrate to the skin where they form various lesions, typically beginning as patches and may progress to raised plaques and tumors. Mortality is related to the stage of CTCL, with median survival generally ranging from about 12 years in the early stages to only 2.5 years when the disease has advanced. There is currently no cure for CTCL. Typically, CTCL lesions are treated and regress but usually return either in the same part of the body or in new areas.

CTCL constitutes a rare group of NHLs, occurring in about 4% of the approximate 700,000 individuals living with the disease. It is estimated, based upon review of historic published studies and reports and an interpolation of data on the incidence of CTCL that it affects over 25,000 individuals in the US, with approximately 3,000 new cases seen annually.

About SGX301

SGX301 (synthetic hypericin) is a novel first-in-class photodynamic therapy utilizing safe visible light for activation. The active ingredient in SGX301 is synthetic hypericin, a potent photosensitizer that is topically applied to skin lesions, is taken up by the malignant T-cells, and then activated by fluorescent light 16 to 24 hours later. The use of visible light in the red-yellow spectrum has the advantage of penetrating more deeply into the skin (much more so than ultraviolet light) and therefore potentially treating deeper skin disease and thicker lesions. This treatment approach avoids the risk of secondary malignancies (including melanoma) inherent with the frequently employed DNA-damaging drugs and other phototherapy that are dependent on ultraviolet exposure. Combined with photoactivation, hypericin has demonstrated significant anti-proliferative effects on activated normal human lymphoid cells and inhibited growth of malignant T-cells isolated from CTCL patients. In a published Phase 2 clinical study in CTCL, patients experienced a statistically significant (p=0.04) improvement with topical hypericin treatment whereas the placebo was ineffective. SGX301 has received orphan drug and fast track designations from the FDA, as well as orphan designation from the European Medicines Agency (EMA).

The Phase 3 FLASH trial enrolled a total of 169 patients (166 evaluable) with Stage IA, IB or IIA CTCL. The trial consists of three treatment cycles. Treatments were administered twice weekly for the first 6 weeks and treatment response was determined at the end of the 8th week of each cycle. In the first double-blind treatment cycle, 116 patients received SGX301 treatment (0.25% synthetic hypericin) and 50 received placebo treatment of their index lesions. A total of 16% of the patients receiving SGX301 achieved at least a 50% reduction in their lesions (graded using a standard measurement of dermatologic lesions, the CAILS score) compared to only 4% of patients in the placebo group at 8 weeks (p=0.04) during the first treatment cycle (primary endpoint). SGX301 treatment in the first cycle was safe and well tolerated.

In the second open-label treatment cycle (Cycle 2), all patients received SGX301 treatment of their index lesions. Evaluation of 155 patients in this cycle (110 receiving 12 weeks of SGX301 treatment and 45 receiving 6 weeks of placebo treatment followed by 6 weeks of SGX301 treatment), demonstrated that the response rate among the 12-week treatment group was 40% (p<0.0001 vs the placebo treatment rate in Cycle 1). Comparison of the 12-week and 6-week treatment groups also revealed a statistically significant improvement (p<0.0001) between the two groups, indicating that continued treatment results in better outcomes. SGX301 continued to be safe and well tolerated. Additional analyses also indicated that SGX301 is equally effective in treating both plaque (response 42%, p<0.0001 relative to placebo treatment in Cycle 1) and patch (response 37%, p=0.0009 relative to placebo treatment in Cycle 1) lesions of CTCL, a particularly relevant finding given the historical difficulty in treating plaque lesions in particular.

The third (optional) treatment cycle (Cycle 3) was focused on safety and all patients could elect to receive SGX301 treatment of all their lesions. Of note, 66% of patients elected to continue with this optional compassionate use / safety cycle of the study. Of the subset of patients that received SGX301 throughout all 3 cycles of treatment, 49% of them demonstrated a treatment response (p<0.0001 vs patients receiving placebo in Cycle 1). Moreover, in a subset of patients evaluated in this cycle, it was demonstrated that SGX301 is not systemically available, consistent with the general safety of this topical product observed to date. At the end of Cycle 3, SGX301 continued to be well tolerated despite extended and increased use of the product to treat multiple lesions. Follow-up visits were completed in Q4 2020, and data lock and final analyses remain ongoing.

Overall safety of SGX301 is a critical attribute of this treatment and was monitored throughout the three treatment cycles (Cycles 1, 2 and 3) and the 6-month follow-up period. SGX301’s mechanism of action is not associated with DNA damage, making it a safer alternative than currently available therapies, all of which are associated with significant and sometimes fatal, side effects. Predominantly these include the risk of melanoma and other malignancies, as well as the risk of significant skin damage and premature skin aging. Currently available treatments are only approved in the context of previous treatment failure with other modalities and there is no approved front-line therapy available. Within this landscape, treatment of CTCL is strongly motivated by the safety risk of each product. SGX301 potentially represents the safest available efficacious treatment for CTCL. With no systemic absorption, a compound that is not mutagenic and a light source that is not carcinogenic, there is no evidence to date of any potential safety issues.

The Phase 3 CTCL clinical study was partially funded by the National Cancer Institute via a Phase II SBIR grant (#1R44CA210848-01A1) awarded to Soligenix, Inc.

Corporate Presentation dated January 2021.

On January 7, 2021 On January 7, 2021, PDS Biotechnology Corporation Presented its corporate presentation (Presentation, PDS Biotechnology, JAN 7, 2021, View Source [SID1234573632]).

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Cancer Genetics to Present at the 2021 BioConnect Virtual Conference Hosted by H.C. Wainwright

On January 7, 2021 Cancer Genetics, Inc. (the "Company") (Nasdaq: CGIX), an emerging leader in novel drug discovery techniques, reported that Jay Roberts, Chief Executive Officer, will present at the 2021 BioConnect Virtual Conference hosted by H.C. Wainwright (Press release, Cancer Genetics, JAN 7, 2021, View Source [SID1234573631]). Registered attendees can access the recorded presentation on-demand (24×7) for the duration of the conference.

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Conference Date: January 11-14, 2021 (Monday-Thursday)
On-Demand Starts: 6:00am ET – Monday, January 11, 2021
On-Demand Ends 9:00pm ET- Thursday, January 14, 2021
Registration: View Source
Mr. Roberts will highlight the Company’s recent transformational business strategy, discuss near-term events including the Company’s proposed merger with StemoniX, Inc., and the broader corporate vision of the Company going forward.

CGIX will be available for virtual 1:1 meetings both during and after the BioConnect Conference. Please contact Jennifer K. Zimmons, Ph.D. [email protected] 917.214.3514 for scheduling.