On July 4, 2022 EXACT Therapeutics AS (‘EXACT-Tx’ or the ‘Company’) reported regarding the issuance of 5,052 new shares in the Company, for the purpose of issuing shares under the Company’s restricted stock unit (RSU) program to its Board members (Press release, Exact Therapeutics, JUL 4, 2022, View Source [SID1234616459]).

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The share capital increase pertaining to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises. The Company’s new registered share capital is NOK 119,988.876 divided into 29,997,219 shares, each with a nominal value of NOK 0.004.

DISCLOSURE REGULATION This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

On July 4, 2022 Abbisko Therapeutics Co., Ltd. (HKEX Stock Code: 2256.HK, referred to "Abbisko Therapeutics" hereafter) reported completion of dosing of the first patient in the Phase 1 clinical trial in advanced solid tumors for ABSK061, which becomes the first highly selective FGFR2/3 inhibitor advanced into clinical stage globally (Press release, Abbisko Therapeutics, JUL 4, 2022, View Source [SID1234616458]).

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The clinical trial (ABSK061-101, NCT05244551) is a First-in-Human Phase 1 study of ABSK061 to assess the safety, tolerability, pharmacokinetics in patients with advanced solid tumors, and to determine the Recommended Phase 2 Dose (RP2D) and evaluate preliminary anti-tumor activities. The trial is currently being conducted in both China and US.

ABSK061 is a next-generation, orally available, highly potent and selective small molecule FGFR2/3 inhibitor independently discovered and developed by Abbisko Therapeutics with global intellectual property rights. Several first-generation pan-FGFR inhibitors have demonstrated clinical efficacy in multiple types of tumor carrying FGFR2/3 alterations and have been approved globally, including China and US. Their therapeutic window and efficacy, however, are limited by the side effects associated with FGFR1 inhibition. With reduced FGFR1 activity while maintaining strong potency against FGFR2/3, ABSK061 is expected to achieve improved therapeutic window and clinical efficacy as a second-generation FGFR inhibitor. In addition to oncology indications, ABSK061 also has great potential to expand its use in non-oncology indications, such as achondroplasia.

On July 4, 2022 Scandion Oncology ("Scandion" or the "Company"), a biotech company developing first-in-class medicines aimed at treating cancer which is resistant to current treatment options, reported the final outcome of its rights issue of shares of up to SEK 93.7 million (the "Rights Issue"), for which the subscription period ended July 1, 2022 (Press release, Scandion Oncology, JUL 4, 2022, View Source,c3596448 [SID1234616457]). Shares corresponding to approximately 80% of the Rights Issue were subscribed for, including subscriptions by guarantors. Through the Rights Issue, Scandion raises approximately SEK 75 million before deduction of issue related costs.

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Final outcome

The Rights Issue comprised a maximum of 10,711,848 ordinary shares. The final outcome of Scandion’s Rights Issue of shares shows that 1,396,886 shares, corresponding to approx. 13% of the Rights Issue, has been subscribed for by exercise of subscription rights (incl. subscription undertakings). Additionally, 55,750 shares, corresponding to approx. 0,5% of the Rights Issue, were subscribed for without preferential rights. 7,118,792 shares, corresponding to approx. 66.5% of the Rights Issue, were subscribed for by guarantors. Through the Rights Issue, Scandion raises approx. SEK 75 million before deduction of issue related costs.

Notification regarding allocation

Allocation of shares has been made according to the principles described in the prospectus which was published in conjunction with the Rights Issue. Subscribers who are allocated shares subscribed for without preferential rights will receive an allocation notice in the form of a settlement note. Payment for such shares is to be made according to the instructions on the settlement note.

Number of shares and share capital

When the Rights Issue has been registered with the Danish Business Authority, the total number of shares in Scandion will amount to 40,706,972 shares and the share capital amount to DKK 2,991,962.4420.

Trading in BTA

Trading in BTA (paid subscribed shares) is currently conducted on Nasdaq First North Growth Market Stockholm, which will cease once the issue has been registered with the Danish Business Authority. BTA’s will subsequently be converted into ordinary shares.

Advisers

Redeye AB acts as financial adviser and Horten Advokatpartnerselskab (as to Danish law) and Advokatfirman Schjødt (as to Swedish law) act as legal advisers in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB acts as the issuing agent in the Rights Issue.

On July 4, 2022 Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) reported that a project has been selected for further development within beLAB2122, a translational BRIDGE collaboration between Evotec and Bristol Myers Squibb (Press release, Evotec, JUL 4, 2022, View Source [SID1234616456]). beLAB2122 aims to bring together leading academic institutions from the Rhine-Main-Neckar region of Germany to efficiently advance first-in-class therapeutic options across all therapeutic areas and formats into investable drug discovery and early development projects.

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The project originates from the lab group of Prof. Dr Ivan Đikić, Molecular biologist and Director of the Institute for Biochemistry II at the Goethe University Frankfurt and was initiated by Innovectis, a technology transfer company of the Goethe University. The project aims at using a bifunctional degrader to selectively target an enzyme with high relevance for the splicing of RNA as a novel pathway in cancer. beLAB2122 will leverage Evotec’s integrated discovery and development platform to validate the approach further and develop a potential first-in-class programme as a treatment for certain cancer types.

beLAB2122 was founded in April 2021 as a translational collaboration between Evotec and Bristol Myers Squibb. The project from the University of Frankfurt marks the second project to be developed within this academic BRIDGE collaboration. The goal of beLAB2122 is to develop academic projects to value inflection points that allow the formation of new jointly owned spin-off companies.

Dr Thomas Hanke, EVP & Head of Academic Partnerships at Evotec, commented: "We are very excited about this project with the Goethe University Frankfurt within the beLAB2122 collaboration. The project addresses a highly promising therapeutic mechanism and holds the potential for a novel oncology treatment. With BRIDGE collaborations such as beLAB2122, Evotec aims at accelerating academic innovations into drug discovery to allow new company formations. We are keen to see the first results and look forward to progressing this and many more interesting academic projects."

Prof. Dr Ivan Đikić, Molecular biologist and Director of the Institute for Biochemistry II at the Goethe University Frankfurt, added: "This programme offers an excellent opportunity for academic researchers to collaborate with pharma partners in the early discovery stage. The major benefit of working together is to provide faster and better validation of promising therapeutic targets and enable rapid translation, e.g. by creating jointly owned spin-off companies. This also adds an important facet to scientific training and is therefore of enormous value to Goethe University."

On June 4, 2022 Sareum Holdings plc (AIM: SAR), the specialist drug development company, reported that GSK has completed its acquisition of Sierra Oncology, Inc ("Sierra"), the licence holder for SRA737 (a novel Chk1 inhibitor), for US$1.9 billion in cash (Press release, Sareum, JUL 4, 2022, View Source [SID1234616454]). The acquisition was approved by Sierra’s shareholders on 29 June 2022.

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GSK has noted that the key driver of the acquisition was momelotinib, a drug Sierra is developing for the treatment of myelofibrosis. Sierra reported positive topline results from a Phase III study investigating momelotinib in this indication in January 2022 and submitted a New Drug Application ("NDA") to the US Food and Drug Administration ("FDA") in June 2022 for marketing approval.

Following the acquisition, GSK also now owns the licence rights to SRA737, a clinical-stage oral, selective Checkpoint kinase 1 inhibitor that targets cancer cell replication and DNA damage repair mechanisms. SRA737 was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK. SRA737 was licensed to Sierra in September 2016 and has progressed through multiple preclinical and early-stage clinical trials demonstrating potential for further investigation in combination with other agents in haematologic and solid tumour indications.

Under an amended US$299m licensing deal on SRA737 between Sierra and CRT Pioneer Fund LP (announced 12 November 2020), Sareum is eligible to receive a 27.5% share of any future milestone payments as well as royalties on any future sales. The dosing of the first patient with SRA737 in any new clinical trial would result in a US$2.0m payment from Sierra (now GSK), with 27.5% of this due to Sareum.