Deka Biosciences, Inc Announces Submission of Investigational New Drug (IND) Application for Lead Oncology Asset, DK210 (EGFR)

On December 27, 2022 Deka Biosciences, Inc. (Deka), a biotech company focused on developing novel cytokine therapies to treat cancer and inflammatory diseases, announced the submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) on December 23, 2022 (Press release, Deka Biosciences, DEC 27, 2022, View Source [SID1234625620]). The IND application supports Deka’s DK210 (EGFR), a promising new cancer treatment that combines normal interleukin-2 with a high affinity interleukin-10, that is designed to accumulate in tumors by binding to the epidermal growth factor receptor (EGFR).

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"With no dual cytokine therapy currently approved for the treatment of cancer, this IND application brings us one step closer to fulfilling our mission – to bring cures to patients with cancer and inflammatory diseases," said John Mumm, CEO & Co-Founder of Deka. "We are thrilled to advance DK210 (EGFR) to the clinical phase and anticipate beginning our Phase 1 trial as soon as possible after the FDA’s acceptance of our IND."

The IND filing comes nearly 18 months after the discovery of DK210 (EGFR), and the company is projecting to dose its first patient in early 2023.

DK210 (EGFR) is the first of many experimental therapeutics developed as part of Deka’s platform of molecules. Each Diakine in Deka’s platform consists of two complementary cytokines coupled together via attachment to a single chain variable fragment that enables the cytokines to accumulate more specifically in targeted tissues. The combination of the two cytokines increases potency and reduces toxicity while the targeting system also improves the drug’s efficacy, safety, and manufacturability. Deka has also identified genetic markers that are related to the differentiated responses to each Diakine. These markers will be evaluated in early clinical trials with the hope of using them as potential diagnostic tools to match patients with the most effective Diakine treatment in later stage trials.

Corporate Overview

On December 27, 2022 VBI Vaccines presented its Corporate overview (Presentation, VBI Vaccines, DEC 27, 2022, View Source [SID1234625619]).

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TRACON Pharmaceuticals Announces up to $30M Non-Recourse Non-Dilutive Financing Related to Arbitration Award Decision Expected in Q1 2023

On December 27, 2022 TRACON Pharmaceuticals (Nasdaq: TCON), a clinical stage biopharmaceutical company utilizing a cost-efficient, CRO-independent product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies, reported entry into an up to $30 million non-recourse financing agreement (Press release, Tracon Pharmaceuticals, DEC 27, 2022, View Source [SID1234625618]).

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"This non-dilutive funding provides for upfront capital along with potential post-award financing, so we may realize the value of a potential arbitration award once issued," said Charles Theuer, M.D., Ph.D., TRACON’s Chief Executive Officer. "We look forward to the announcement of the arbitration award that is expected in the first quarter of 2023."

$3.5 million will be funded before December 31, 2022. The additional $26.5 million, or a lesser amount based on the amount awarded, will be available subject to the award exceeding a threshold and satisfaction of other conditions set forth in the agreement, with 25% of the total being available to be funded after award announcement and the remainder available over a multi-year period. The non-recourse funding will be repaid upon collection of any award from I-Mab at varying rates that depend on the time elapsed from funding and certain other matters related to the arbitration.

The Company plans to use the funds to confirm and enforce any award and for working capital and general corporate purposes.

SpringWorks Therapeutics Completes Submission of New Drug Application to the FDA for Nirogacestat for the Treatment of Adults with Desmoid Tumors

On December 27, 2022 SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, reported that the Company has completed the submission of a New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for nirogacestat, an investigational gamma secretase inhibitor, for the treatment of adults with desmoid tumors (Press release, SpringWorks Therapeutics, DEC 27, 2022, View Source [SID1234625617]).

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The NDA submission is being reviewed under the FDA’s Real-Time Oncology Review (RTOR) program and includes data from the Phase 3 DeFi trial, a global, randomized, double-blind, placebo-controlled trial in adult patients with desmoid tumors. The FDA previously granted Fast Track and Breakthrough Therapy designations to nirogacestat for the treatment of adult patients with progressive, unresectable, recurrent or refractory desmoid tumors or deep fibromatosis. Nirogacestat has also received Orphan Drug designation from the FDA for the treatment of desmoid tumors and from the European Commission for the treatment of soft tissue sarcoma.

"Nirogacestat holds tremendous potential to address the substantial unmet needs that remain for people living with desmoid tumors and the submission of our NDA represents an important step toward our goal of delivering the first approved therapy to treat this devastating disease," said Saqib Islam, Chief Executive Officer of SpringWorks. "We look forward to continuing to work closely with the FDA and aim to bring nirogacestat to patients with desmoid tumors as expeditiously as possible."

About the DeFi Trial
DeFi (NCT03785964) is a global, randomized (1:1), double-blind, placebo-controlled Phase 3 trial evaluating the efficacy, safety and tolerability of nirogacestat in adult patients with progressing desmoid tumors. The double-blind phase of the study randomized 142 patients (nirogacestat, n=70; placebo n=72) to receive 150 mg of nirogacestat or placebo twice daily. Key eligibility criteria included tumor progression by ≥20% as measured by Response Evaluation Criteria in Solid Tumors (RECIST 1.1) within 12 months prior to screening. The primary endpoint was progression-free survival, as assessed by blinded independent central review, or death by any cause. Secondary and exploratory endpoints included safety and tolerability measures, objective response rate (ORR), duration of response, changes in tumor volume assessed by magnetic resonance imaging (MRI), and changes in patient-reported outcomes (PROs). DeFi includes an open-label extension phase, which is ongoing.

About Desmoid Tumors
Desmoid tumors are rare, aggressive, locally invasive, and potentially morbid tumors of the soft tissues.1,2 While they do not metastasize, desmoid tumors are associated with a high rate of recurrence.2,3,4 Sometimes referred to as aggressive fibromatosis, or desmoid fibromatosis, these soft tissue tumors can be serious, debilitating, and, in rare cases when vital structures are impacted, they can be life-threatening.2,5

Desmoid tumors are most commonly diagnosed in patients between the ages of 20 and 44 years, with a two-to-three times higher prevalence in females.4,6,7,8 It is estimated that there are 1,000-1,650 new cases diagnosed per year in the United States.7,8,9

Historically, desmoid tumors were treated with surgical resection, but this approach has become less favored due to a high recurrence rate after surgery.1,4,10 There are currently no FDA-approved therapies for the treatment of desmoid tumors.

About Nirogacestat
Nirogacestat is an oral, selective, small molecule gamma secretase inhibitor in Phase 3 clinical development for desmoid tumors and in Phase 2 clinical development for ovarian granulosa cell tumors. Nirogacestat is an investigational drug for which safety and efficacy have not been established.

Gamma secretase cleaves multiple transmembrane protein complexes, including Notch, which is believed to play a role in activating pathways that contribute to growth of desmoid and ovarian granulosa cell tumors. Gamma secretase has also been shown to directly cleave membrane-bound B cell maturation antigen (BCMA), resulting in the release of the BCMA extracellular domain (ECD) from the cell surface. By inhibiting gamma secretase, membrane-bound BCMA can be preserved, increasing target density while reducing levels of soluble BCMA ECD, which may serve as decoy receptors for BCMA-directed therapies. Nirogacestat’s ability to enhance the activity of BCMA-directed therapies has been observed in preclinical models of multiple myeloma. SpringWorks is evaluating nirogacestat as a BCMA potentiator and has several collaborations with industry-leading BCMA developers to evaluate nirogacestat in combinations across modalities. SpringWorks has also formed research collaborations with Fred Hutchinson Cancer Research Center and Dana-Farber Cancer Institute to further characterize the ability of nirogacestat to modulate BCMA and potentiate BCMA-directed therapies using a variety of preclinical multiple myeloma models.

Nirogacestat has received Orphan Drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of desmoid tumors and from the European Commission for the treatment of soft tissue sarcoma. The FDA also granted Fast Track and Breakthrough Therapy designations for the treatment of adult patients with progressive, unresectable, recurrent or refractory desmoid tumors or deep fibromatosis.

Spectrum Pharmaceuticals Announces New Employment Inducement Grants for Commercial Staff

On December 27, 2022 Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, reported that Spectrum’s Board of Directors granted an aggregate of 206,059 inducement restricted stock units ("RSUs") to commercial non-executive employees who were hired specifically for the launch of ROLVEDON (Press release, Spectrum Pharmaceuticals, DEC 27, 2022, View Source [SID1234625615]). The awards were granted under Spectrum’s 2022 Employment Inducement Incentive Award Plan ("Inducement Plan") as employment inducement awards pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Spectrum, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Spectrum, pursuant to Nasdaq Listing Rule 5635(c)(4).

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The RSUs will vest over three years on the first three anniversaries of the grant date, subject to continued service through each applicable vesting date.