PharmaMar receives Orphan Drug Designation for lurbinectedin from the Swiss Agency for Therapeutic Products for Malignant Mesothelioma

On December 27, 2022 PharmaMar (PHM:MSE) has reported that the Swiss Agency for Therapeutic Products (Swissmedic) has granted Orphan Drug designation to lurbinectedin for the treatment of Malignant Mesothelioma (Press release, PharmaMar, DEC 27, 2022, View Source [SID1234625614]).

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This decision is based on the orphan drug recognition granted by the European Medicines Agency in August, 2021.

Malignant Mesothelioma is a tumor that arises from the mesothelial cells of the pleural, peritoneal or pericardial lining of the lung, and is often associated with exposure to asbestos, usually with a very poor prognosis at the time of diagnosis.. There is currently no cure for most malignant mesotheliomas. Therefore, the goal of current cancer treatments (surgery, radiation therapy and chemotherapy) is to reduce or eliminate symptoms, as well as to prolong Progression-Free Survival (PFS) and/or Overall Survival (OS). It is estimated that the incidence of this type of cancer may increase in the coming years, after the exposure to asbestos, as there is a long latency period after exposure before a Malignant Mesothelioma forms.

NanoBiotix Announces First Patient Randomized in the United States in Global Phase 3 Pivotal Trial Evaluating Radioenhancer NBTXR3 in Head and Neck Cancer

On December 27, 2022 NANOBIOTIX (Euronext : NANO –– NASDAQ: NBTX – the ‘‘Company’’), a late-clinical stage biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, reported that the first patient in the United States has been randomized in NANORAY-312, a global Phase 3 registrational trial evaluating NBTXR3 for the treatment of elderly patients with locally advanced head and neck squamous cell carcinoma ("LA-HNSCC") who are ineligible for platinum-based chemotherapy (Press release, Nanobiotix, DEC 27, 2022, View Source [SID1234625612]). NBTXR3 activated by radiotherapy will be evaluated alone or in combination with cetuximab. NBTXR3 is a potentially first-in-class radioenhancer with broad application across solid tumors, with prioritized focus in head and neck cancer.

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"Our pivotal, global Phase 3 NANORAY-312 trial for lead candidate NBTXR3 continues to build momentum with sites now active in the United States, Europe and Asia," said Laurent Levy, co-founder of Nanobiotix and chairman of the executive board. "NANORAY-312 is the first of our prioritized registrational trials in head and neck cancer and is designed to prove that our innovation can make a difference for elderly patients around the world, a growing patient population with high unmet medical need. We believe data on survival and anti-tumoral response in our proof-of-concept Phase 1 Study 102 continue to support the potential of NBTXR3 as a single agent activated by radiotherapy for the treatment of elderly patients with head and neck cancer and we look forward to reporting additional milestones from our head and neck cancer franchise studies in 2023."

The first patient in NANORAY-312 was randomized in Europe by Nanobiotix in January of 2022, followed by randomization of the first patient in Asia by Nanobiotix’ strategic collaborator LianBio in August of 2022. The addition of the first patient in the United States completes the Company’s planned study initiation milestones in 2022. Nanobiotix remains focused on expanding the trial’s site footprint, building on the 80 sites currently activated; driving patient recruitment; and preparing for planned milestone reporting in 2023.

About NANORAY-312
NANORAY-312 is a global, two-arm, randomized, Investigator’s Choice Phase 3 registrational study that is designed to investigate the efficacy and safety of radiotherapy-activated NBTXR3 with or without cetuximab versus radiotherapy with or without cetuximab in high-risk, platinum-based chemotherapy-ineligible elderly patients with locally advanced head and neck squamous cell carcinoma (LA-HSNCC). Eligible participants will be treated with NBTXR3 at a 1:1 ratio after an Investigator’s Choice of radiotherapy alone or radiotherapy in combination with cetuximab. This pivotal trial is expected to enroll 500 patients globally, with the United States, Europe, and Asia as its major regions. NANORAY-312 is co-led by principal investigators Sue Yom, MD, PhD, Professor and Vice Chair, Strategic Advisory Department of Radiation Oncology; Professor, Otolaryngology-Head and Neck Surgery at The University of California, San Francisco, and Christophe Le Tourneau, MD, PhD, senior medical oncologist and head of the Department of Drug Development and Innovation (D3i) at Institut Curie (Paris).

NANORAY-312 is being conducted in partnership with LianBio. LianBio is leading clinical development in Asia and holds exclusive rights to develop and commercialize NBTXR3 in Greater China, South Korea, Singapore and Thailand. Nanobiotix is leading clinical and commercial development in all other regions.

About NBTXR3
NBTXR3 is a novel, potentially first-in-class oncology product composed of functionalized hafnium oxide nanoparticles that is administered via one-time intratumoral injection and activated by radiotherapy. The product candidate’s physical mechanism of action (MoA) is designed to induce significant tumor cell death in the injected tumor when activated by radiotherapy, subsequently triggering adaptive immune response and long-term anti-cancer memory. Given the physical MoA, Nanobiotix believes that NBTXR3 could be scalable across any solid tumor that can be treated with radiotherapy and across any therapeutic combination, particularly immune checkpoint inhibitors.

NBTXR3 is being evaluated in locally advanced head and neck squamous cell carcinoma (HNSCC) as the primary development pathway. The company-sponsored phase I dose escalation and dose expansion study has produced favorable safety data and early signs of efficacy; a phase III global registrational study was launched in 2021; and all major regions planned for the study are currently active and enrolling patients. In February 2020, the United States Food and Drug Administration granted regulatory Fast Track designation for the investigation of NBTXR3 activated by radiation therapy, with or without cetuximab, for the treatment of patients with locally advanced HNSCC who are not eligible for platinum-based chemotherapy—the same population being evaluated in the phase III study.

Nanobiotix has also prioritized an Immuno-Oncology development program—beginning with a Company-sponsored phase I clinical study evaluating NBTXR3 activated by radiotherapy in combination with anti-PD-1 checkpoint inhibitors for patients with locoregional recurrent or recurrent/metastatic HNSCC and lung or liver metastases from any primary cancer eligible for anti-PD-1 therapy.

Given the Company’s focus areas, and balanced against the scalable potential of NBTXR3, Nanobiotix has engaged in a strategic collaboration strategy with world class partners to expand development of the product candidate in parallel with its priority development pathways. Pursuant to this strategy, in 2019 Nanobiotix entered into a broad, comprehensive clinical research collaboration with The University of Texas MD Anderson Cancer Center to sponsor several phase I and phase II studies to evaluate NBTXR3 across tumor types and therapeutic combinations.

Entry into a Material Definitive Agreement

On December 27, 2022 (the "Amendment Date"), Mersana Therapeutics, Inc. (the "Company") entered into a Third Amendment to Loan and Security Agreement (the "Third Amendment"), by and among the Company, Oxford Finance LLC, in its capacity as collateral agent (in such capacity, the "Agent") and a lender, Silicon Valley Bank as a lender, and the other parties thereto as lenders (collectively, the "Lenders") (Filing, Mersana Therapeutics, DEC 27, 2022, View Source [SID1234625611]). The Third Amendment further amended that certain Loan and Security Agreement dated as of October 29, 2021 by and among the Company, the Lenders and the Agent (as amended by the First Amendment to Loan and Security Agreement dated as of February 17, 2022 and the Second Amendment to Loan and Security Agreement dated as of October 17, 2022, the "Loan Agreement").

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The Third Amendment lowered the total aggregate principal amount of the tranche A term loan from $60.0 million to $40.0 million leaving $15.0 million of availability as of the Amendment Date, extended the period in which the Company could draw on the tranche A term loan from December 31, 2022 to June 30, 2023, increased the aggregate principal amount of the contingent tranche B term loan from $20.0 million to $40.0 million, and extended the period in which the Company may draw the contingent tranche B term loan from June 30, 2023 to September 30, 2023, subject to satisfaction of certain milestones. The Third Amendment also extended from five business days to 10 business days the notification period required for the Company to request a disbursement. On the Amendment Date, the Company paid an amendment fee in the amount of $150,000 to the Lenders. The Third Amendment did not otherwise modify the Company’s payment obligations under the Loan Agreement.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2022.

Gilead To Acquire All Remaining Rights To Potential First-In-Class Immunotherapy GS-1811 From Jounce Therapeutics

On December 27, 2022 Gilead Sciences, Inc. (Nasdaq: GILD) and Jounce Therapeutics, Inc. (Nasdaq: JNCE) reported to have amended their existing license agreement for GS-1811 (formerly JTX-1811), enabling Gilead to buyout remaining contingent payments potentially due under the license agreement executed in August 2020 (Press release, Jounce Therapeutics, DEC 27, 2022, View Source [SID1234625610]). As part of the transaction, certain operational obligations of the parties related to GS-1811, an anti-CCR8 antibody, set forth in the license agreement have also been terminated. Gilead will acquire certain related intellectual property, including all outstanding rights of Jounce to GS-1811, pursuant to the transaction agreement. GS-1811, a potentially first-in-class immunotherapy, is designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory cells in the tumor microenvironment and is currently in Phase 1 clinical development as a possible treatment for patients with solid tumors.

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"We are pleased to announce the signing of this transaction with Gilead who have a strong track record of developing and successfully commercializing leading brands in biotechnology," said Richard Murray, Ph.D., chief executive officer and president of Jounce. "This transaction allows us to extend our runway and remain focused on delivering meaningful and long-lasting benefits to cancer patients. It was important for Jounce at this time to bolster our cash resources given challenges in capital markets for biotech companies."

Jounce will receive proceeds of $67 million for this transaction and Gilead will be solely responsible for all further research, development, and commercialization of GS-1811 globally.

"Today’s news about GS-1811 further demonstrates our commitment to our rapidly evolving oncology franchise and mission of pioneering next-generation medicines for people with cancer," said Bill Grossman, M.D., Ph.D., Senior Vice President, Therapeutic Area Head, Gilead Oncology. "GS-1811, with its potential new pathway of activating the immune system, gives us the opportunity to potentially change the standard of care with a treatment that works from inside cancerous cells to shrink solid tumors."

Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission (SEC), Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures. We expect the transaction with Jounce to reduce Gilead’s GAAP and non-GAAP 2022 EPS by approximately $0.04.

Jounce will no longer be entitled to receive the remaining contingent payments of up to $645 million in milestones and high single digit to mid-teens royalties based upon worldwide sales under the original license agreement. Additional details of the transaction, including related agreements and matters, will be contained in a Current Report on Form 8-K to be filed by Jounce.

Ablaze Pharmaceuticals and Yonghe Pharma Initiate Development and Manufacturing Services Agreement for Targeted Radiopharmaceutical Therapies

On December 26, 2022 Ablaze Pharmaceuticals ("Ablaze") reported the initiation of a development and manufacturing services agreement with Yonghe Pharmaceutical Technology Co., Ltd. ("Yonghe") to develop series of targeted radiopharmaceutical therapy ("TRT") products (Press release, Ablaze Pharmaceuticals, DEC 26, 2022, View Source [SID1234625603]). Under the agreement Yonghe as the CDMO partner will provide production process development and cGMP manufacturing services for Ablaze from pharmaceutical research and preclinical activities to clinical studies.

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"This agreement with Yonghe represents a significant step for Ablaze in our efforts to optimize our preclinical and clinical development program for target radiopharmaceutical therapy" said Dr. Tiecheng Qiao, President and Chief Executive Officer of Ablaze. "Target radiopharmaceutical therapy is a proven approach to treating many cancers. We are excited about this opportunity to bring this novel class of TRT products to benefit patients in China."

"We are glad to support Ablaze and its targeted radiopharmaceutical therapy programs. TRT offers the potential to play an important role in the fight against cancer, we seek to provide a robust and efficient radiopharmaceutical manufacture, testing, and supply process for our partners from early-stage development through commercialization" said Mr. Bo Lin, Chairman of Yonghe.