Enlivex Announces New Preclinical Data in Ovarian Cancer Showing a Substantial Survival Benefit when Allocetra is Combined with PD-1 Checkpoint Inhibition at the American Society of Clinical Oncology (ASCO) Annual Meeting

On May 31, 2022 Enlivex Therapeutics Ltd. (Nasdaq: ENLV, the "Company"), a clinical-stage macrophage reprogramming immunotherapy company, reported new preclinical data from an ovarian cancer study conducted in collaboration with Yale Cancer Center (Press release, Enlivex Therapeutics, MAY 31, 2022, View Source [SID1234615257]). The study showed substantial and statistically significant improvements in survival benefit, survival duration and tumor burden reduction when Allocetra was combined with an anti-PD1 checkpoint inhibitor. The data will be featured in an upcoming poster presentation at the ASCO (Free ASCO Whitepaper) Annual Meeting, which is taking place both virtually and in-person at the McCormick Place convention center in Chicago, Illinois (United States) from June 3 – 7, 2022.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

The upcoming ASCO (Free ASCO Whitepaper) poster will also highlight a prior preclinical study in mesothelioma cancer that showed a substantial survival benefit when Allocetra was combined with a commercially approved anti-CTLA4 checkpoint inhibitor. Previously reported preclinical data in peritoneal cancer that show a substantial survival benefit when Allocetra is combined with chimeric antigen receptor (CAR) T-cell therapy will also be presented.

Marcus Bosenberg, MD, PhD, Professor of Dermatology, Pathology, and Immunobiology and Director of the Center for Precision Cancer Modeling at Yale Cancer Center, commented: "I am highly encouraged by these preclinical findings, which clearly demonstrate Allocetra’s potential to address a long-standing unmet need. The immunosuppressive microenvironments of ovarian tumors have limited the clinical benefits of checkpoint inhibition in this indication. Allocetra may reverse immunosuppressive tumor microenvironments and may ultimately improve patient outcomes by synergistically enhancing checkpoint inhibitor efficacy in clinical trials."

Prof. Dror Mevorach, MD, Chief Scientific Officer of Enlivex, added: "In these latest murine studies, we once again saw Allocetra synergistically combine with a checkpoint inhibitor to deliver a statistically significant survival benefit in a difficult-to-treat solid tumor model. We are now working to translate these promising findings to the clinic and expect to initiate two solid tumor trials evaluating Allocetra-based combinations by year-end. Through these studies, we aim to clinically demonstrate the broad applicability of Allocetra’s proposed mechanism of action to enable the expansion of its potential therapeutic impact."

Ovarian Cancer, Checkpoint Inhibitors, and Macrophage-Solid Tumor Dynamics

Ovarian cancer is currently the fifth leading cause of cancer death among women. Stand-alone therapy with PD1 checkpoint inhibitors, which are designed to treat cancer by activating immune cells that can identify and destroy tumors, has thus far shown limited efficacy in this indication. Prior clinical trials in ovarian cancer evaluating anti-PD1 monotherapy have shown response rates of only 7% – 15%.

The limited response rates of checkpoint inhibitors in ovarian and other solid cancers is linked to tumor defense mechanisms that facilitate the recruitment of macrophages which become "pro-tumor" tumor associated macrophages (TAMs) rather than "anti-tumor" macrophages. Pro-tumor TAMs typically form a physical layer on top of solid tumors and induce an immunosuppressive tumor microenvironment (TME). This in-turn promotes tumor growth and metastasis and makes it very difficult for immune cells or any anti-cancer drug to efficiently attack cancerous cells. Allocetra is a cell therapy in development that is targeted towards TAMs. Its proposed mechanism of action is to change the balance of macrophage populations so that they skew towards anti-tumor macrophages and away from pro-tumor macrophages. This is expected to enhance the efficacy of checkpoint inhibitors and other immunotherapeutic agents.

The Ovarian Cancer Model

To expand upon its previous preclinical findings in mesothelioma and test the potential effects of cell-therapy-induced macrophage reprogramming in a second difficult-to-treat solid tumor model, Enlivex collaborated with the Yale Cancer Center to run preclinical studies in which groups of mice were implanted with ID8 ovarian cancer cells. The difference between the groups was the treatment given, which started on day 7 after the cancer’s initial growth period.

Results from the preclinical ovarian cancer study further support Allocetra’s potential to significantly improve survival outcomes by facilitating macrophage reprogramming in the solid tumor microenvironment. Twelve weeks after the initial treatment, untreated mice (vehicle) showed a survival rate of 0%, and a median survival duration of 6 weeks. Survival duration was increased with stand-alone treatment with either an anti-PD1 inhibitor or Allocetra. The magnitude of the increases were similar between these two monotherapy groups (42% and 58% increase, respectively), with no significant effect on overall survival probability observed between the monotherapy groups. Notably, combining Allocetra with anti-PD1 therapy led to a synergistic anti-cancer effect, with survival rates of up to 50% (5/10) and an 83% increase in median survival duration observed in the combination therapy groups. The attached figure shows the Kaplan-Meier survival probability curve for each group of the study, and the table below provides the treatment data.

As previously reported, Enlivex plans to initiate a Phase Ib trial evaluating Allocetra in combination with chemotherapy in solid peritoneal tumors in Q3 2022, and a Phase I/II trial evaluating Allocetra in combination with an immune checkpoint inhibitor in late 2022.

The title of the upcoming ASCO (Free ASCO Whitepaper) poster is "In-vivo reprogramming macrophages and dendritic cells with Allocetra-OTS: Successful mono- and combination-antitumor therapy." The poster will be presented during the ASCO (Free ASCO Whitepaper) Annual Meeting’s "Developmental Therapeutics – Immunotherapy" poster session, which is taking place on June 5, 2022, from 8:00 AM – 11:00 AM CDT (9:00 AM – 12:00 PM ET). A copy of the poster’s corresponding abstract is currently available on the ASCO (Free ASCO Whitepaper) Annual Meeting Website.

ABOUT THE AMERICAN SOCIETY OF CLINICAL ONCOLOGY

Founded in 1964, the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) is the world’s leading professional organization for physicians and oncology professionals caring for people with cancer.

ABOUT ALLOCETRA

Allocetra is being developed as a universal, off-the-shelf cell therapy designed to reprogram macrophages into their homeostatic state. Diseases such as solid cancers, sepsis, and many others reprogram macrophages out of their homeostatic state. These non-homeostatic macrophages contribute significantly to the severity of the respective diseases. By restoring macrophage homeostasis, Allocetra has the potential to provide a novel immunotherapeutic mechanism of action for life-threatening clinical indications that are defined as "unmet medical needs", as a stand-alone therapy or in combination with leading therapeutic agents.

CRISPR Therapeutics to Host Innovation Day on June 21, 2022

On May 31, 2022 CRISPR Therapeutics (Nasdaq: CRSP), a biopharmaceutical company focused on creating transformative gene-based medicines for serious diseases, reported that it will host an Innovation Day focused on early research and development on Tuesday, June 21, 2022 at 2:00 PM ET (Press release, CRISPR Therapeutics, MAY 31, 2022, View Source [SID1234615254]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

CRISPR Therapeutics’ Innovation Day will focus on the Company’s differentiated genetic engineering platform technologies, novel approach to cell and gene therapy, and emerging discovery programs.

A live webcast of the event will be available on the "Events & Presentations" page in the Investors section of the Company’s website at View Source A replay of the webcast will be archived on the Company’s website for 30 days following the presentation. Please contact [email protected] for any questions regarding the event.

Champions Oncology Announces a Partnership with Cyclica to Develop Small Molecule Therapeutics

On May 31, 2022 Champions Oncology, Inc. (Nasdaq: CSBR), a leading global technology-enabled biotech that is transforming drug discovery through innovative AI-driven pharmaco-pheno-multiomic integration, and Cyclica Inc. ("Cyclica"), a neo-biotech with the vision to advance the most robust and sustainable drug discovery pipeline, reported a therapeutic development partnership (Press release, Champions Oncology, MAY 31, 2022, View Source [SID1234615253]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

The partnership will combine two therapeutic targets identified and validated within Champions’ Lumin platform with Cyclica’s drug discovery platform to establish a new therapeutic program. The planned partnership will initiate with a single program focused on previously unexplored targets present in tumor indications such as non-small cell lung cancer, head and neck cancer, and other solid tumors. The partnership will also leverage the unique experimental platforms available at Champions to ensure rapid and efficient development towards clinical evaluation. Under the terms of this agreement, Champions will co-own the program with Cyclica and take lead in advancing the program, and, upon achievement of specified milestones and events, will be obligated to make milestone and royalty payments to Cyclica. Should Champions decide not to continue development, Cyclica has the option to carry forward the program in exchange for milestone and royalty payments to Champions.

Ronnie Morris, MD, President and CEO of Champions Oncology, said "We’re excited to announce our first partnership in small molecule drug discovery and development, following two development partnerships with other companies involving large molecules. This partnership with Cyclica is a continued validation of the power of our experimental and digital research platforms. With deeply characterized datasets including our world-leading PDX models and Pharmaco-Pheno-Multi Omic (PPMO) workflows, we can better understand what drives growth and survival of a tumor. These specific targets have been interesting ones for Champions, and we are excited to establish a pipeline program in partnership with Cyclica."

Naheed Kurji, President and CEO of Cyclica, shares "Cyclica’s unique ability to address low data targets combined with Champions’ oncology-focused platform has groundbreaking therapeutic potential. Most importantly, by exploiting novel targets with strong disease linkage, we aspire to improve patient outcomes significantly."

AnPac Bio Reports 49.1% Decrease in Net Loss in First Quarter of Fiscal 2022

On May 31, 2022 AnPac Bio-Medical Science Co., Ltd. ("AnPac Bio," the "Company" or "we") (NASDAQ: ANPC), a biotechnology company with operations in China and the United States, reported its unaudited financial results for the first quarter ended March 31, 2022 (Press release, Anpac Bio, MAY 31, 2022, View Source [SID1234615252]). The Company’s financial statements and related financial information for the quarter ended March 31, 2022 are unaudited and have not been reviewed by the Company’s independent registered accountant. These financial results could differ materially if they were reviewed by the Company’s independent registered accountant.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Financial highlights for the First Quarter 2022

Total revenue was approximately RMB2.0 million (US$309,000) for the first quarter of 2022, a decrease of 9.9% from approximately RMB2.2 million for the same period of 2021.
Gross profit margin was 55.4% for the first quarter of 2022, representing a decrease of 3.0% from 58.4% for the same period of 2021.
The average selling price ("ASP") of CDA-based tests was RMB233 (US$36.8) for the first quarter of 2022, a decrease of RMB168.0, or 41.9% from RMB401.0 for the same period of 2021, primarily due to focusing on more conventional cancer detection tests at lower prices.
Net loss was approximately RMB14.9 million (US$2.4 million) for the first quarter of 2022, compared to a net loss of approximately RMB29.3 million for the same period of 2021, 49.1% decrease from the same period in 2021. The net loss for the first quarter of 2022 was mainly attributable to approximately RMB2.9 million (US$463,000) of selling and marketing expenses, approximately RMB2.4 million (US$380,000) of research and development expenses and approximately RMB10.3 million (US$1.6 million) of general and administrative expenses.
Non-GAAP net loss¹ was approximately RMB12.1 million (US$1.9 million) for the first quarter of 2022, reduced from a non-GAAP net loss of approximately RMB15.0 million for the same period of 2021. Non-GAAP net loss was reduced by 19.0% compared with the same period of 2021.
Short-term debt was approximately RMB11.5 million (US$1.8 million) as of March 31, 2021, a decrease of 66.1% from approximately RMB33.8 million at the end of last fiscal year (December 31, 2021). The decrease in short-term debt was mainly due to the company issued an aggregate of 4,842,198 shares for the Registered Convertible Debentures in principal balance of approximately RMB17,8 million (US$2,8 million) by March 16, 2022.
(1) Non-GAAP net loss is defined as net loss excluding change in fair value of convertible debts and stock-based compensation. For more information, refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of Non-GAAP Results" at the end of this press release.

Business Highlights for the First Quarter of 2022

The Company continued to receive validation on the efficacy of CDA testing through clinical study follow-ups. As of March 31, 2022, AnPac Bio had contacted 27,254 individuals tested using CDA packages in China and received substantive feedback regarding health conditions and disease development from 16,052 individuals.
As of March 31, 2022, the Company filed 260 patent applications globally, among which 155 patents had been granted, including 22 patents granted in the United States, 68 in greater China (including eight in Taiwan), and 65 in other countries and regions.
The Company continued to build a cancer risk assessment database, which totaled approximately 258,238 samples as of March 31, 2022, including approximately 214,085 samples from commercial CDA-based tests and approximately 44,153 samples from research studies.
On March 29, 2022, the Company signed an investment agreement with Shanghai Stonedrop Investment Management Center (Limited Partnership) ("Stonedrop"), a previous investor of the Group. Stonedrop agreed to invest RMB2 million (approximately $314,000) to the Group in exchange for 872,829 shares. The Group received RMB 1 million (approximately $157,000) and issued 872,829 shares to Stonedrop as the date of this filing.
The Company delivered an aggregate of 4,842,197 shares reserved for convertible debentures in principal balance of approximately RMB17.9 million (US$2.8 million) by March 16, 2022 at conversion prices ranging from US$0.34 to US$1.0 per share. The Company also issued 6,000,000 shares as reserve for potential convertible loans conversion in the first quarter of 2022.
Dr. Chris Yu, Co-CEO and Co-Chairman of AnPac Bio commented: "We are pleased with our overall performance in the first quarter of 2022. Our financial performance was improved in a number of important areas. We have significantly reduced our net loss by 49.1% and our short debt was reduced by 66.1% in Q1 2022, compared with the same period last year. In product development and commercialization area, following successfully passing Class III medical device tests at our National Medical Product Administration (NMPA) designated testing laboratory in December 2021, we have begun developing plans for our Class III medical device clinical trials and selecting suited hospitals for the trials. While we are still experiencing negative effects of COVID-19, we intend to work very hard to make progress in a number of critical areas, including fund raising, cost cutting, product commercialization, including Class III medical device certification, and market penetration."

Key Items of Financial Results for the First Quarter of 2022

Revenues

Total revenues decreased by 9.9% to approximately RMB2.0 million (US$309,000) for the first quarter of 2022 from approximately RMB2.2 million for the first quarter of 2021, primarily due to a significant decrease in our revenue from cancer screening and detection tests.

Cost of Revenues

Cost of revenues decreased by 3.3% to approximately RMB878,000 (US$139,000) for the first quarter of 2022 from approximately RMB908,000 for the first quarter of 2021, primarily due to the decrease of approximately RMB 300,000 cost of revenue from cancer screening and detection tests, which was in line with the decrease in our revenue from sales of cancer screening and detection tests. Offset by the increased cost of revenues from technology services and retail products was approximately RMB270,000, no such cost incurred for the same period of 2021.

Gross Profit and Gross Margin

Gross margin was 55.4% for the first quarter of 2022, representing a slight decrease from 58.4% for the first quarter of 2021, primarily due to lower selling prices we charged for CDA-based tests.

Selling and Marketing Expenses

Selling and marketing expenses decreased by 24.1% to approximately RMB2.9 million (US$463,000) for the first quarter of 2022 from approximately RMB3.9 million for the same period of 2021, primarily due to less marketing activity.

Research and Development Expenses

Research and development expenses decreased by 28.3% to approximately RMB2.4 million (US$380,000) for the first quarter of 2022 from approximately RMB3.4 million for the first quarter of 2021, primarily due to less research and development activities for the first quarter of 2022 compared to the same period of 2021.

General and Administrative Expenses

General and administrative expenses decreased by 46.5% to approximately RMB10.3 million (US$1.6 million) for the first quarter of 2022 from approximately RMB19.2 million for the same period of 2021, primarily due to the decreased share-based compensation.

Change in fair value of convertible debt

The Company recognized the convertible debt at fair value. For the first quarter of 2022 and 2021, the Company recognized an aggregated unrealized loss of approximately RMB85,000 (US$13,000) and approximately RMB3.2 million, respectively, due to changes in fair value of convertible debt.

Net Loss

Net loss decreased to approximately RMB14.9 million (US$2.4 million) for the first quarter of 2022, compared to approximately RMB29.2 million for the first quarter of 2021. Basic and diluted loss per share was RMB0.85 (US$0.13) for the first quarter of 2022, compared to that of RMB2.43 for the first quarter of 2021.

The Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2022. The guidance requires the lessee to record operating leases on the balance sheet with a right-of-use asset and corresponding liability for future payment obligations. The Company recognized right of use assets and lease liabilities of approximately $1.30 million and $1.32 million as of March 31, 2022.

Balance Sheet

As of March 31, 2022, the Company had cash and cash equivalents of approximately RMB462,000 (US$73,000), compared to approximately RMB9.3 million as of December 31, 2021.

PDS Biotech Announces Expansion of its VERSATILE-002 Clinical Trial into Europe

On May 31, 2022 PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune and Infectimune T-cell activating technologies, reported the acceptance of its Clinical Trial Application (CTA) from the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom (UK) to allow expansion of its VERSATILE-002 study of PDS0101 in combination with Merck’s anti-PD-1 therapy KEYTRUDA (pembrolizumab) to the UK (Press release, PDS Biotechnology, MAY 31, 2022, View Source [SID1234615250]). The MHRA is among several regulatory agencies that PDS Biotech is seeking approval from to expand the trial into various site outside of the United States PDS Biotech anticipates that enrollment in the UK could begin during the third quarter of 2022.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

"The acceptance of this CTA marks another important regulatory milestone for PDS Biotech. Initiation of our global expansion is a key advancement to expedite enrollment into the VERSATILE-002 clinical study," stated Dr. Lauren Wood, Chief Medical Officer of PDS Biotech. "Additionally, this expansion allows PDS to expose global regulators to our novel molecularly targeted immunotherapies."

Chris Curtis, Chief Executive Officer of the UK-based charity group, The Swallows, stated "The reported preliminary safety data of PDS0101 in combination with pembrolizumab is highly encouraging, and we are pleased that European patients will be able to enroll in this promising clinical study of an HPV-targeted immunotherapy with standard of care, pembrolizumab."

KEYTRUDA is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA.