On March 31, 2022 Hasten Biopharmaceutic Co., Ltd (China) ("Hasten") reported that it has acquired a portfolio of five prescription pharmaceutical products sold in China from Takeda Pharmaceutical Company Limited (Press release, Takeda, MAR 31, 2022, View Source [SID1234611388]). Hasten is funded by CBC Group ("CBC"), Asia’s largest healthcare-dedicated investment firm, Hefei Industry Investment Group, and Feidong County of Hefei City.

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Under the terms of the acquisition, Hasten will acquire the Chinese Mainland-exclusive rights of Ebrantil, Edarbi, Basen, Blopress and Actos. Employees dedicated to the commercial support of these products will be transferred to Hasten, while Takeda will continue to manufacture the portfolio of products and supply them to Hasten.

"Hasten is dedicated to providing life-transforming treatments for patients in China. Acquiring the five innovative medicines gives Hasten a strong portfolio and a talented commercial workforce, taking it one step closer to becoming a leading biopharmaceutical company in China," Annie Lee, Chairman of the Board of Hasten and CBC Managing Director, said. "I look forward to welcoming our new colleagues from Takeda to Hasten and building on our combined expertise to fulfil unmet needs for patients with critical diabetic and heart conditions."

"This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia," Wei Fu, Chief Executive Officer of CBC, said. "CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy. We look forward to developing further synergy between our portfolio companies in our healthcare ecosystem to bring life-changing treatments to chronic disease patients."

CBC has built a robust global healthcare ecosystem, partnering with top healthcare entrepreneurs and companies to deliver innovative solutions and improve healthcare efficiency and quality since 2014. Its investor-operator strategy has led the group to complete 9 IPOs across its portfolio, with another 12 life sciences and medical technology companies currently under incubation. CBC has also built momentum expanding its geographical footprint in recent years, including by building RVAC Medicines in Singapore, Jadeite Medicines in Japan, and Ensem Therapeutics in the US. CBC will continue to leverage its strong team of investment, industry, and portfolio management professionals to enhance Hasten’s value and accelerate its growth.

On March 31, 2022 Hasten Biopharmaceutic Co., Ltd (China) ("Hasten") reported that it has acquired a portfolio of five prescription pharmaceutical products sold in China from Takeda Pharmaceutical Company Limited (Press release, Takeda, MAR 31, 2022, View Source [SID1234611388]). Hasten is funded by CBC Group ("CBC"), Asia’s largest healthcare-dedicated investment firm, Hefei Industry Investment Group, and Feidong County of Hefei City.

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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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Under the terms of the acquisition, Hasten will acquire the Chinese Mainland-exclusive rights of Ebrantil, Edarbi, Basen, Blopress and Actos. Employees dedicated to the commercial support of these products will be transferred to Hasten, while Takeda will continue to manufacture the portfolio of products and supply them to Hasten.

"Hasten is dedicated to providing life-transforming treatments for patients in China. Acquiring the five innovative medicines gives Hasten a strong portfolio and a talented commercial workforce, taking it one step closer to becoming a leading biopharmaceutical company in China," Annie Lee, Chairman of the Board of Hasten and CBC Managing Director, said. "I look forward to welcoming our new colleagues from Takeda to Hasten and building on our combined expertise to fulfil unmet needs for patients with critical diabetic and heart conditions."

"This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia," Wei Fu, Chief Executive Officer of CBC, said. "CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy. We look forward to developing further synergy between our portfolio companies in our healthcare ecosystem to bring life-changing treatments to chronic disease patients."

CBC has built a robust global healthcare ecosystem, partnering with top healthcare entrepreneurs and companies to deliver innovative solutions and improve healthcare efficiency and quality since 2014. Its investor-operator strategy has led the group to complete 9 IPOs across its portfolio, with another 12 life sciences and medical technology companies currently under incubation. CBC has also built momentum expanding its geographical footprint in recent years, including by building RVAC Medicines in Singapore, Jadeite Medicines in Japan, and Ensem Therapeutics in the US. CBC will continue to leverage its strong team of investment, industry, and portfolio management professionals to enhance Hasten’s value and accelerate its growth.

On March 31, 2022 National Pediatric Cancer Foundation (NPCF) reported it is seeking research proposals as part of its 43 Challenge program, a national awareness and funding initiative aimed at making radical progress in pediatric cancer research (Press release, National Pediatric Cancer Foundation, MAR 31, 2022, View Source [SID1234611363]). In recognition of the 43 children diagnosed with cancer each day, NPCF is offering the $4.3 million research grant program – set to open on April 3 (4/3) – to medical, science, technology and corporate innovators and thought leaders with novel ideas to make progress in the fight against cancer among children. The best ideas will be selected and funded, ranging from $1 million to $4.3 million grants, in the name of improving the lives of children diagnosed with cancer.

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"Our nation is known for tackling numerous challenges, including recent solutions for COVID, so now it’s time we focus on solutions for kids with cancer," said NPCF CEO David Frazer. "The National Pediatric Cancer Foundation is committed to quickly and significantly advancing research for pediatric cancer. We are seeking novel, innovative and collaborative research ideas that can improve treatment and save the lives of children."

NPCF is advocating for new solutions that promote significant advances in addressing pediatric cancer and therapies. The goal of the grant research program is to explore the possibility that an innovative proposal could possibly be found within another aspect of the medical, science or technology fields. Casting a wider net for this research opportunity offers a chance to explore fields which may have been previously overlooked with regard to cancer research.

NPCF’s main mission is funding research to eliminate childhood cancer, and the grant program is just one way it works to accomplish this. The organization desires science that is novel, can significantly improve the lives of children with cancer and/or makes radical progress against pediatric cancers within the next few years.

"As the grateful mother of a child who won her battle with cancer more than three decades ago, I’m emphatically committed to a future where no family has to face what we did," said Melissa Dunkel, Board Member, Emeritus Director and NPCF Co-Founder. "I commend the work advanced by the talented pediatric oncologists and scientists across the U.S., and I encourage researchers from all disciplines to help NPCF as we take a cutting-edge approach to tackle pediatric cancer."

Applications may come from one or more of the following fields and be submitted by individuals, multi-disciplinary teams, research institutions, healthcare providers or corporate partnerships:

Interested applicants may submit an LOI/ ABSTRACT from April 3-May 31, 2022. This abstract will be used to check eligibility and to initially interpret proposals to determine which projects will be asked to submit a full proposal. To submit an LOI/ ABSTRACT and for more details, visit nationalpcf.org/43challenge. The projects selected will then be invited to submit a single-page application and be interviewed by the NPCF / Selection Committee. Grant winner(s) will be announced Sept. 1, 2022.

On March 31, 2022 The Company reported that entered into an At Market Issuance Sales Agreement (the "Agreement") with Ladenburg Thalmann & Co. Inc. ("Ladenburg"). Under the Agreement, the Company may offer and sell its common stock, par value $0.001 per share, from time to time having an aggregate offering price of up to $25,000,000 (the "Shares") during the term of the Agreement through Ladenburg (Filing, 8-K, Tocagen, MAR 31, 2022, View Source [SID1234611354]). The Company has filed a prospectus supplement relating to the offer and sale of the Shares pursuant to the Agreement covering sales of up to $7,000,000 of Shares. The Shares will be issued pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-256611), which was initially filed with the Securities and Exchange Commission on May 28, 2021, and declared effective on June 7, 2021. The Company intends to use the net proceeds from the offering, if any, for general corporate purposes, including funding existing and potential new clinical programs.

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The Company is not obligated to sell any Shares pursuant to the Agreement. Subject to the terms and conditions of the Agreement, Ladenburg will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of The Nasdaq Capital Market ("Nasdaq"), to sell Shares from time to time based upon the Company’s instructions, including any price, time or size limits or other customary parameters or conditions the Company may impose.

Under the Agreement, Ladenburg may sell Shares by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415 of the Securities Act of 1933, as amended, and the rules and regulations thereunder, including, without limitation, sales made directly on or through Nasdaq, on or through any other existing trading market for the Shares or to or through a market maker. If expressly authorized by the Company, Ladenburg may also sell Shares in negotiated transactions.

The Agreement will terminate upon the earlier of (i) the issuance and sale of all of the Shares through Ladenburg on the terms and subject to the conditions set forth in the Agreement or (ii) termination of the Agreement as otherwise permitted thereby. The Agreement may be terminated at any time by either party.

The Company has agreed to pay Ladenburg a commission equal to 3.0% of the gross proceeds from the sales of Shares pursuant to the Agreement and has agreed to provide Ladenburg with customary indemnification and contribution rights.

The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference. The Agreement contains representations and warranties that the parties made to, and solely for the benefit of, the other in the context of all of the terms and conditions of the Agreement and in the context of the specific relationship between the parties. The provisions of the Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to the Agreement and are not intended as a document for investors and the public to obtain factual information about the Company’s current state of affairs. Rather, investors and the public should look to other disclosures contained in the Company’s filings with the SEC.

The opinion of the Company’s counsel regarding the validity of the Shares that may be issued pursuant to the Agreement is filed herewith as Exhibit 5.1.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy Shares, nor shall there be any sale of the Shares 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.

On March 31, 2022, United Therapeutics Corporation (the "Company") reported that entered into a Credit Agreement (the "Credit Agreement") with certain of its subsidiaries party thereto, as guarantors (the "Guarantors"), the lenders referred to therein, and Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent and as a swingline lender (Filing, 8-K, United Therapeutics, MAR 31, 2022, View Source [SID1234611348]). The Credit Agreement provides for (i) an unsecured, revolving credit facility of up to $1.2 billion; and (ii) a second unsecured, revolving credit facility of up to $800 million (which facilities may, subject to obtaining commitments from existing or new lenders for such increase and subject to other condition, be increased by up to $500 million in the aggregate). The facilities mature five years after the closing date of the Credit Agreement, subject to an ability of the lenders thereunder, or certain of the lenders thereunder, to elect to extend the maturity date of their commitments by one year following a request for such extension by the Company in accordance with the terms of the Credit Agreement, up to a maximum of two such extensions.

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As of March 31, 2022, Lung Biotechnology PBC is the only subsidiary of the Company required to be a Guarantor and guarantee the Company’s obligations under the Credit Agreement. From time to time, one or more additional subsidiaries of the Company may be required to guarantee the Company’s obligations under the Credit Agreement.

At the Company’s option, the loan will bear interest at either an adjusted Term SOFR rate or a fluctuating base rate, in each case, plus an applicable margin that is determined on a quarterly basis based on the Company’s consolidated total leverage ratio (as calculated in accordance with the Credit Agreement).

The proceeds of borrowings under the Credit Agreement are available to refinance certain existing indebtedness of the Company and its subsidiaries and/or for working capital and other general corporate purposes. Upon closing of the Credit Agreement on March 31, 2022, the Company borrowed $800.0 million under the Credit Agreement, and used the funds to repay outstanding indebtedness under the 2018 Credit Agreement discussed under Item 1.02 below.

The Credit Agreement also contains customary affirmative and negative covenants that, among other things, limit the ability of the Company and its subsidiaries to: (a) incur indebtedness; (b) grant liens; (c) enter into a merger, consolidation, or amalgamation; (d) liquidate, wind up, or dissolve; or (e) sell all or substantially all of the property, business, or assets of the Company and its subsidiaries taken as a whole. In addition, as of the last day of each fiscal quarter, the Company must not permit (i) a consolidated ratio of total indebtedness to EBITDA to be greater than 3.00 to 1.00 (which ratio may, upon consummation of certain qualifying acquisitions, be increased to 3.50 to 1.00 for four fiscal quarters following such acquisition); and (ii) its consolidated interest coverage ratio to be less than 3.00 to 1.00, in each case calculated in accordance with the Credit Agreement.

The Credit Agreement contains customary events of default, including a change of control. Upon the occurrence and continuation of an event of default, all amounts due under the Credit Agreement and the other loan documents become (in the case of a bankruptcy event), or may become (in the case of all other events of default and at the option of the lenders), immediately due and payable.