On April 28, 2022 Chimera Bioengineering reported that it has been selected as the winner of the Asian Fund for Cancer Research’s (AFCR) 2021 BRACE Award Venture Competition—a first-of-its-kind program for early stage oncology technology companies focused on Asian-prevalent cancers. Chimera is developing an innovative CAR-T cell therapy platform for conditional, location-specific activation to target solid tumors (Press release, Chimera Bioengineering, APR 28, 2022, View Source [SID1234613171]).

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As a result of its win, Chimera received US$500,000 in investment from AFCR and additional investments from AFCR-syndicated co-investors, bringing in a total of US$7.5 million of new funds for the company. This follows a rigorous review and evaluation process performed by the BRACE program’s three blue ribbon Committees: Selection, Judging and Investment.

BRACE Award Venture Competition winners not only receive AFCR’s investments, but also feedback and validation from key opinion leaders in the life sciences field. Additionally, the BRACE program provides participating companies with connections and access to cancer experts within AFCR’s worldwide network, as well as amplification for visibility and publicity.

"We are excited to be named the winner of the 2021 BRACE Award Venture Competition, and are thrilled by the support we have received from new investors and the connections we have made to high-caliber advisors," stated Chimera Bioengineering Chief Scientific Officer and Co-Founder Gus Zeiner, Ph.D. "We greatly value the enhanced credibility and exposure from winning the 2021 BRACE Award Venture Competition and look forward to having AFCR being a part of our journey to provide transformative therapies for cancer patients in Asia and beyond."

"During the evaluation for AFCR’s BRACE Award, I was impressed with Chimera’s insightful approach of leveraging natural mechanisms to engineer T cells," said BRACE Award Venture Competition Selection and Judging Committee Co-Chair Raju Kucherlapati, Ph.D. "The company is developing a way to engineer these critical immune system cells to selectively activate when they encounter tumor cells and deliver a payload to counteract the suppressive tumor microenvironment."

"Furthermore, Chimera’s initial data in preclinical models provide support for the ability of their platform technology to apply the curative potential of CAR-T therapies to treating solid tumors," added Dr. Kucherlapati, the Paul C. Cabot Professor of Genetics at Harvard Medical School and co-founder of multiple successful biotechnology companies, including Millennium Pharmaceuticals.

"I am proud that interest in the BRACE Award Venture Competition has spread around the world, and it is being recognized as a valuable source of investment for early stage oncology companies," expressed Asian Fund for Cancer Research Chief Executive Officer and Founder Sujuan Ba, Ph.D. "Like the potentially transformative CAR-T technology being pursued by Chimera, AFCR’s BRACE Award Venture Competition is designed to accelerate the commercialization of innovative cancer research discoveries for cancer patients, in Asia and worldwide."

"The BRACE Award Venture Competition is an annual event to support promising early stage oncology start-ups that work on cancers prevalent in Asia," exclaimed Asian Fund for Cancer Research Chairman Lance Kawaguchi. "In addition to the investment into winners such as Chimera Bioengineering, AFCR brings to the company other valuable resources, such as access to the National Foundation for Cancer Research and AIM-HI Accelerator Fund, which are founding partners of the BRACE Award Venture Competition."

Learn more about the BRACE Award Venture Competition, including the 2022 iteration of the program, now in its fourth year, at View Source

About the BRACE Award Venture Competition

The annual Bridging Research from Academia to Cancer Entrepreneurship (BRACE) program, launched in 2019, is designed to accelerate the commercialization of innovative laboratory discoveries on cancers that are prevalent in Asia. BRACE Award Venture Competitions provide start-up companies with investment capital, visibility and access to a network of world-class key opinion leaders, life sciences industry experts, investors and entrepreneurs.

On April 28, 2022 Novocure (NASDAQ: NVCR) reported financial results for the quarter ended March 31, 2022 (Press release, NovoCure, APR 28, 2022, View Source [SID1234613170]). Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer by developing and commercializing its innovative therapy, Tumor Treating Fields (TTFields).

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"The first quarter was another period of solid execution for Novocure," said Asaf Danziger, Novocure’s Chief Executive Officer. "Our core glioblastoma business continues to provide the financial strength for significant investment in future growth drivers. We believe these investments, especially the expansion of our clinical pipeline and product enhancements, ultimately will enable many more cancer patients to benefit from TTFields therapy."

"2022 marks the beginning of what we expect to be a transformational period for our company and patients," said William Doyle, Novocure’s Executive Chairman. "In 2022, we expect to release clinical data from multiple studies, complete enrollment of our third pivotal study in less than 12 months, and initiate a limited release of next generation arrays in Europe. After many years building to this point, we are excited to kick off what should be a fruitful year for Novocure."

Financial updates for the first quarter ended March 31, 2022:

Total net revenues for the quarter were $137.5 million, an increase of 2% compared to the same period in 2021.
The United States, EMEA and Japan contributed $97.4 million, $27.0 million, and $8.8 million in quarterly net revenues, respectively.
Revenue in Greater China from Novocure’s partnership with Zai Lab totaled $4.4 million.
Gross margin for the quarter was 80%.
Research, development and clinical studies expenses for the quarter were $42.2 million, a decrease of 8% from the same period in 2021. Direct clinical trial costs can fluctuate quarter-to-quarter depending on the clinical research organization services delivered and clinical trial materials procured, and we are investing aggressively in future growth and development initiatives.
Sales and marketing expenses for the quarter were $37.9 million, an increase of 21% compared to the same period in 2021. This reflects increased investments in market access capabilities as well as early commercial capabilities in anticipation of potential future approvals and launches in new indications.
General and administrative expenses for the quarter were $30.5 million, a decrease of 2% compared to the same period in 2021.
Net loss for the quarter was $4.6 million with loss per share of $0.04.
Adjusted EBITDA* for the quarter was $26.8 million.
Cash, cash equivalents and short-term investments were $932.3 million as of March 31, 2022.
Operational updates for the first quarter ended March 31, 2022:

As of March 31, 2022, there were 3,549 active patients on therapy. Active patients from North America, EMEA and Japan contributed 2,257, 965 and 327 active patients, respectively.
1,384 prescriptions were received in the quarter. Prescriptions from North America, EMEA and Japan contributed 935, 347 and 102 prescriptions, respectively.
Quarterly achievements:

In February, Novocure founder and TTFields inventor Yoram Palti won the 2022 Israel Prize in Entrepreneurship and Technological Innovation. This prize is regarded as the State of Israel’s highest cultural honor and recognizes Israeli citizens who have shown special excellence and a breakthrough in their field or who have made a special contribution to Israeli society.
In March, an independent data monitoring committee ("DMC") conducted a pre-specified interim analysis of the phase 3 pivotal INNOVATE-3 study for the treatment of ovarian cancer. Following completion of the interim analysis, the DMC recommended that the study should continue to final analysis as planned. Data will be reviewed in 2023, following an 18 month follow-up period.
2022 Outlook:

We expect to achieve active patient growth between 2% to 5% in 2022, in-line with the growth rate experienced in the first quarter of 2022. Longer term, the company continues to expect further adoption in its core GBM business.
Anticipated clinical milestones:

Data from phase 2 pilot EF-31 study in gastric cancer (2022)
Data from phase 2 pilot EF-33 study with high-intensity arrays in recurrent GBM (2022)
Last patient enrollment in phase 3 pivotal METIS study in brain metastases (2022)
Data from phase 3 pivotal LUNAR study in NSCLC (2022)
Last patient enrollment in phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2023)
Data from phase 3 pivotal INNOVATE-3 study in recurrent ovarian cancer (2023)
Data from phase 3 pivotal METIS study in brain metastases (2023)
Data from phase 3 pivotal PANOVA-3 study in locally advanced pancreatic cancer (2024)
Conference call details

Novocure will host a conference call and webcast to discuss first quarter 2022 financial results at 8 a.m. EDT today, Thursday, April 28, 2022. Analysts and investors can participate in the conference call by dialing 855-442-6895 for domestic callers and 509-960-9037 for international callers, using the conference ID 1476184.

The webcast, earnings slides presented during the webcast and the corporate presentation can be accessed live from the Investor Relations page of Novocure’s website, www.novocure.com/investor-relations, and will be available for at least 14 days following the call. Novocure has used, and intends to continue to use, its investor relations website, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

On April 28, 2022 ChemoCentryx, Inc., (Nasdaq: CCXI), reported that the Company’s first quarter 2022 financial results will be released after market close on Thursday, May 5, 2022 (Press release, ChemoCentryx, APR 28, 2022, View Source [SID1234613169]). ChemoCentryx executive management will host a conference call and webcast beginning at 5:00 p.m. Eastern Time on May 5, 2022 to discuss these results and to answer questions.

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To participate by telephone, please dial (877) 303-8028 (Domestic) or (760) 536-5167 (International). The conference ID number is 6597218. A live and archived audio webcast can be accessed through the Investors section of the Company’s website at www.ChemoCentryx.com. The archived webcast will remain available on the Company’s website for fourteen (14) days following the call.

On April 28, 2022 DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biopharmaceutical company focused on developing novel treatments for neurological disorders and kidney diseases, reported that its first quarter 2022 financial results will be released after the markets close on Wednesday, May 4th (Press release, DiaMedica, APR 28, 2022, View Source [SID1234613168]). DiaMedica will host a live conference call on Thursday, May 5th at 7:00 AM Central Time to provide a business update and discuss financial results.

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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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Interested parties may access the conference call by dialing in or listening to the simultaneous webcast. Listeners should log on to the website or dial in 15 minutes prior to the call. The webcast will remain available for play back on our website, under investor relations – events and presentations, following the earnings call and for 12 months thereafter. A telephonic replay of the conference call will be available until May 12, 2022, by dialing (800) 770-2030 (US Toll Free) and entering the replay passcode: 4814247.

On April 28, 2022 Poseida Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage biopharmaceutical company utilizing proprietary genetic engineering platform technologies to create cell and gene therapeutics with the capacity to cure, reported that the Company’s Chief Executive Officer, Mark Gergen, will present at the BofA Securities 2022 Healthcare Conference on Tuesday, May 10, 2022 at 2:40pm PT in Las Vegas (Press release, Poseida Therapeutics, APR 28, 2022, View Source [SID1234613167]).

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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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A live webcast of the presentation will be available on the Investors & Media Section of Poseida’s website, www.poseida.com. A replay of the webcast will be available for approximately 30 days following the presentation.