On January 10, 2022 NANOBIOTIX (Euronext: NANO – NASDAQ: NBTX – the ‘‘Company’’), a late-stage clinical biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, reported a corporate update highlighting key priorities and anticipated development milestones for 2022 (Press release, Nanobiotix, JAN 10, 2022, View Source [SID1234598454]).

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"We believe 2021 provided strong validation of the broad potential therapeutic benefit of NBTXR3 and the capabilities of the Nanobiotix team," said Laurent Levy, co-founder and chairman of the executive board of Nanobiotix. "Not only did our single-agent and combination development programs yield new data suggesting radiotherapy-activated NBTXR3 may improve clinical outcomes for patients with either local or systemic disease, but we were also able to launch NANORAY-312, our global phase III registration study in head and neck cancer. This momentum enabled us to move quickly to begin 2022, with the first European patient randomized in our phase III study and recruitment efforts well under way. In parallel, in 2021 we strengthened our leadership team with the appointment of both a new supervisory board Chairman and new Chief Financial Officer; and added a new strategic partner to advance and expand development of NBTXR3 in Asia. Moreover, we took measures to increase operational efficiencies and optimize capital allocation, effectively extending our operating runway while further strengthening our priority development pathways. Our priorities for the year remain focused on executing our ongoing studies, capturing the opportunity to drive value by defining our registration strategy in immunotherapy, and expanding the tumor-agnostic, combination-agnostic profile of NBTXR3 through our strategic collaborations."

2022 Corporate Priorities

The Nanobiotix mission is to improve treatment outcomes for patients around the world by developing and commercializing disruptive, nanophysics-based therapeutic solutions across multiple major disease areas, beginning with cancer. In 2022, Nanobiotix plans to continue to grow and strengthen its organizational capabilities in order to deliver on the potential of its lead product candidate, NBTXR3.

Key corporate priorities for the year are as follows:

Focus Company-led development efforts on the execution of NANORAY-312, a global, pivotal study seeking regulatory market approval of NBTXR3 as a single-agent activated by radiation in locally advanced head and neck squamous cell carcinoma (HNSCC; head and neck cancer) and the advancement of a follow-on checkpoint inhibitor combination strategy for patients naïve to anti-PD-1 treatment as well as patients with inadequate or no response to prior anti-PD-1 treatment
Advance the expansion of NBTXR3’s global pipeline through existing collaborations and/or the addition of new collaborations that can potentially contribute complementary development and/or commercial capabilities
Further align resources and capital allocation with strategic priorities and enhance operating efficiencies
Deepen operational expertise in key functional areas to support continued company growth
Continue to foster a company culture of innovation, integrity, accountability, transparency, and inclusion
2022 Development Pipeline Objectives

In 2022, the Nanobiotix development program will continue to focus on: (i) Execution of Company-led priority pathways in HNSCC and immunotherapy, and (ii) working with existing and future collaborators to expand the development footprint for NBTXR3.

Key development objectives and expected milestones as follows:

Advance toward NBTXR3 global commercial registration through NANORAY-312, evaluating the product candidate as a single-agent activated by radiotherapy for high-risk elderly patients with locally advanced HNSCC following preliminary survival data from phase I dose expansion study (Study 102 Expansion) showing a potential benefit for elderly patients with a worse prognosis. Expected 2022 milestones include:
Randomize First NANORAY-312 Patient in Europe – January 2022 (Achieved)
Activate First NANORAY-312 US Site
Activate First NANORAY-312 Asia Site (LianBio)
Establish a planned path to registration for NBTXR3 in combination with anti-PD-1 following initial data from the Company’s ongoing phase I study (Study 1100) suggesting NBTXR3 may prime immune response, enhance response rates in anti-PD-1 naïve patients, and help overcome resistance to prior anti-PD-1 therapy in non-responders. Expected 2022 milestones include:
Establish Recommended Phase II Dose (RP2D) in all cohorts
Present Updated Study 1100 Data
Announce Development Next Steps Following Regulatory Agency Feedback
Expand evaluation of NBTXR3 safety and feasibility to additional solid tumor indications and therapeutic combinations outside of Company-led pathways through collaborators. Expected 2022 milestones include:
Establish Recommended Phase II Dose (RP2D) in Pancreatic Cancer
Present Data from Phase I evaluation of NBTXR3 plus chemoradiation in HNSCC
Present Data from Phase I/II evaluation of NBTXR3 plus chemoradiation in Rectal Cancer
2021 Year-End Cash

As of December 31, 2021, Nanobiotix estimates that it had approximately €83.9 million in cash, cash equivalents, and investments, compared to €119.2 million as of December 31, 2020. Following comprehensive operational adjustments undertaken in the second half of 2021, Nanobiotix has been able to extend its operating runway and now expects that its cash, cash equivalents, and investments as of December 31, 2021, excluding any future potential milestones that may be received by the Company from collaborations, will enable the Company to fund its current operational plan into the second quarter of 2023. This estimate of cash, cash equivalents and investments is preliminary and is based on information currently available and may differ from the actual cash balance to be included in the Company’s audited financial statements.

Upcoming Investor Conferences in January 2022

H.C. Wainwright Bioconnect Conference
Date: January 10-13, 2022
Format: Corporate presentation
Time: Presentation available for registered attendees starting January 10, 2022 at 7:00 AM (EST) / 1:00 PM (CET)

Biotech Showcase 2022
Date: January 17-19, 2022
Format: Corporate presentation and virtual one-on-one meetings with investors
Time: Presentation available for registered attendees starting January 10, 2022 at 7:00 AM (EST) / 1:00 PM (CET)

An updated corporate overview presentation is available on the Investors section of the Company’s website at View Source and a webcast of the H.C. Wainwright Bioconnect Conference will be archived in the events section at View Source

2022 Financial Agenda

March 30, 2022 – 2021 Full-Year Corporate and Financial Update
May 10, 2022 – First Quarter 2022 Corporate and Financial Update
June 17, 2022 – Annual General Meeting, Paris, France
September 7, 2022 – 2022 Half-Year Corporate and Financial Update
November 9, 2022 – Third Quarter 2022 Corporate and Financial Update
***

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. 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.

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 either naïve or resistant to prior PD-1 (either primary or secondary as per SITC (Free SITC Whitepaper) criteria).

Given the Company’s focus areas, and balanced against the scalable potential of NBTXR3, Nanobiotix has engaged in strategic collaborations 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. In 2021, the Company entered into an additional strategic collaboration agreement with LianBio to support its global phase III study in Asia along with four future registrational studies.

On January 10, 2022 BioNTech SE (Nasdaq: BNTX, "BioNTech") and Crescendo Biologics Ltd ("Crescendo"), a clinical stage immuno-oncology company developing novel, targeted T cell enhancing therapeutics, reported that they have entered a multi-target discovery collaboration to develop novel immunotherapies for the treatment of patients with cancer and other diseases. The initial term of the discovery collaboration is three years (Press release, BioNTech, JAN 10, 2022, View Source [SID1234598453]).

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Crescendo will contribute its unique, proprietary, transgenic platform to deliver fully human heavy-chain antibody domains (Humabody VH) against targets nominated by BioNTech. Humabodies represent a novel class of therapeutics that retain the high-affinity binding and specificity of conventional therapeutic antibodies while providing additional advantages such as small size, enhanced tissue and tumor penetration, stability and molecular simplicity due to the lack of a light chain. In particular, the modular nature of Humabodies make them ideally suited for the development of multi-target immunotherapies.

"Crescendo’s platform provides excellent properties for exploiting novel targets and target combinations which we believe has great potential for the development of multi-specific mRNA and engineered cell-based therapies in a variety of disease areas," said Ugur Sahin, M.D., Chief Executive Officer and Co-Founder of BioNTech. "We are excited to begin working with Crescendo to further strengthen and expand our multimodal immunotherapy portfolio and deliver breakthrough precision medicines for patients."

"To collaborate with BioNTech and their world-class team is a transformational opportunity for Crescendo. We are looking forward to further leveraging our clinically validated Humabody VH platform within mRNA therapeutics to develop better treatment options for patients," said Theodora Harold, Chief Executive Officer at Crescendo Biologics.

Under the terms of the agreement, Crescendo will receive $40 million upfront, including a cash payment and an equity investment from BioNTech, as well as research funding for the period of the collaboration. BioNTech will be responsible for global development and hold exclusive worldwide commercialization rights on any products arising from the collaboration. Crescendo will be eligible to receive development, regulatory and commercial milestones up to a total of more than $750 million, in addition to tiered royalties on global net sales.

On January 7, 2022, Century Therapeutics, Inc. (the "Company") reported that entered into a Research, Collaboration and License Agreement (the "Collaboration Agreement") with Bristol-Myers Squibb Company ("BMS") to collaborate on the research, development and commercialization of induced pluripotent stem cell derived, engineered natural killer cell and/or T cell programs for hematologic malignancies and solid tumors (each a "Collaboration Program," and each product candidate developed within such Collaboration Program, a "Development Candidate") (Filing, 8-K, Century Therapeutics, JAN 10, 2022, View Source [SID1234598452]).

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Pursuant to the Collaboration Agreement, the Company and BMS will initially collaborate on two Collaboration Programs and BMS has the option to add up to two additional Collaboration Programs, for an additional fee. The initial two Collaboration Programs are focused on acute myeloid leukemia ("AML") and multiple myeloma, respectively. The two additional Collaboration Programs that BMS may elect to add to the collaboration will focus on targets chosen from a set of reserved targets or other targets selected by BMS, which can be nominated subject to certain conditions agreed with the Company and outlined in the Collaboration Agreement.

Under the Collaboration Agreement, the Company will be responsible for generating Development Candidates for each Collaboration Program with a goal of producing Development Candidates that meet pre-specified criteria. BMS has the option, exercisable for a specified period of time after the Development Candidate for each Collaboration Program is deemed to meet the applicable criteria, to elect to exclusively license from the Company the Development Candidates created in each Collaboration Program for pre-clinical development, clinical development and commercialization on a worldwide basis (each a "License Option"). Following BMS’s exercise of the License Option with respect to a Collaboration Program, the Company will be responsible for performing investigational new drug application ("IND")-enabling studies, supporting BMS’s preparation and submission of an IND and manufacturing of clinical supplies until completion of a proof of concept clinical trial for the relevant Development Candidates, in each case at pre-agreed rates. BMS will be responsible for all regulatory, clinical, manufacturing (after the proof of concept clinical trial) and commercialization activities for such Development Candidates worldwide. The Company has the option to co-promote with BMS Development Candidates generated from the initial AML Collaboration Program and, if BMS elects to expand to a fourth Collaboration Program, Development Candidates generated from the fourth Collaboration Program.

Under the terms of the Collaboration Agreement, BMS will make a non-refundable, upfront cash payment of $100 million to the Company within thirty (30) days of execution of the Collaboration Agreement and will pay the Company an exercise fee upon the exercise of the License Option with respect to a Collaboration Program (each such Collaboration Program, a "Licensed Program" and product candidates developed under a Licensed Program, "Licensed Products"). With respect to each Licensed Program, BMS will pay the Company up to $235 million in milestone payments upon the first achievement of certain development and regulatory milestones within such Licensed Program. In addition, BMS will pay the Company up to $500 million per Licensed Product in net sales-based milestone payments. BMS will also pay the Company tiered royalties per Licensed Product as a percentage of net sales in the high-single digits to low-teens, subject to reduction for biosimilar competition, compulsory licensing and certain third party licenses costs. If Century exercises its co-promote option, such royalty percentage will be increased to low-teens to high-teens in respect of the sales of the co-promoted Licensed Products in the United States. The royalty term shall terminate on a Licensed Product-by-Licensed Product and country-by-country basis on the latest of (i) the twelve (12) year anniversary of the first commercial sale of such Licensed Product in such country, (ii) the expiration of any regulatory exclusivity period that covers such Licensed Product in such country, and (iii) the expiration of the last-to-expire licensed patent of the Company or a jointly owned patent that covers such the Licensed Product in such country. After expiration of the applicable royalty term for a Licensed Product in a country, all licenses granted by the Company to BMS for such Licensed Product in such country will be fully paid-up, royalty-free, perpetual and irrevocable.

The Collaboration Agreement includes customary representations and warranties, covenants and indemnification obligations for a transaction of this nature. The Company and BMS each have the right to terminate the agreement for material breach by, or insolvency of, the other party following notice, and if applicable, a cure period. BMS may also terminate the Collaboration Agreement in its entirety, or on a program-by-program basis, for convenience upon ninety (90) days’ notice.

The foregoing description of the Collaboration Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the Collaboration Agreement. A copy of the Collaboration Agreement will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2022.

Securities Purchase Agreement

In connection with the Collaboration Agreement, the Company and BMS entered into a Securities Purchase Agreement (the "Purchase Agreement") on January 7, 2022, whereby the Company issued and sold and BMS purchased 2,160,760 shares of the Company’s common stock, par value $0.0001 per share (the "Common Stock") (the "Shares") at a price per share of $23.14, for an aggregate purchase price of $50 million. The Company and BMS expect to close on the purchase and sale of the Shares on January 12, 2022.

On January 10, 2022 Bristol Myers Squibb (NYSE:BMY) reported that it will highlight progress against the Company’s growth strategy and outlook for 2022 during a presentation scheduled at 7:30 a.m. ET at the 40th Annual J.P. Morgan Healthcare Conference (Press release, Bristol-Myers Squibb, JAN 10, 2022, View Source [SID1234598451]).

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"We are successfully transforming the company by further diversifying our product portfolio, launching breakthrough new medicines that benefit our patients and advancing a robust product pipeline that will help us deliver sustained growth," said Giovanni Caforio, M.D., board chair and chief executive officer, Bristol Myers Squibb. "We are entering 2022 excited about the growth opportunities in our in-line brands and new product portfolio. With our strong financial position, we continue to invest in internal and external innovation to further enhance and diversify our pipeline, while delivering new medicines to patients with serious disease and creating long-term value for our shareholders."

Highlights of the presentation

Bristol Myers Squibb’s presentation will focus on four key drivers positioning the Company for sustained growth and value creation, helping to offset losses of exclusivity in the coming years. The drivers build upon a strong foundation of existing in-line products, including Opdivo(nivolumab), Yervoy(ipilimumab)and Eliquis(apixaban), which are expected to contribute approximately $8-$10 billion in revenue growth during the period of 2020-2025. The drivers include:

New product portfolio with significant growth potential. With six recent launches (Abecma(idecabtagene vicleucel),Breyanzi (lisocabtagene maraleucel), Inrebic(fedratinib), Onureg(azacytidine), Reblozyl (luspatercept-aamt)andZeposia(ozanimod)) and three launches anticipated in 2022 (relatimab and nivolumab fixed dose combination,mavacamten, deucravacitinib), Bristol Myers Squibb’s renewed and diverse product portfolio has the potential to deliver:
$10-$13 billion of risk-adjusted revenue in 2025;
More than $25 billion non-risk-adjusted revenue in 2029; and
At least $4 billion of non-risk adjusted revenue in 2029 for each of the following recent or anticipated new products: Reblozyl,relatimab and nivolumab fixed dose combination,mavacamten and deucravacitinib.
Promising mid- to late-stage assets with large commercial opportunities. Bristol Myers Squibb has seven key assets in its mid-to-late-stage pipeline focused on disease areas where there are meaningful opportunities to improve outcomes for patients. These assets include milvexian, which has demonstrated a differentiated profile as a next generation anti-thrombotic therapy, and two novel CELMoDs, iberdomide and CC-92480, with potential to be new foundational treatments in multiple myeloma.
Powerful innovation engine driving a broad early-stage pipeline. With more than 50 assets in its early-stage pipeline and the opportunity for more than 20 proof of concept decisions over the next three years, Bristol Myers Squibb is advancing one of the most exciting pipelines in the industry, amplified by the Company’s strong external partnerships.
Strong cash flow generation provides significant financial strength and flexibility. Bristol Myers Squibb plans to leverage its $45-$50 billion in expected free cash flow between 2022 and 2024 to execute a consistent, balanced capital allocation strategy, prioritizing business development and returning cash to shareholders through the Company’s dividend and share repurchase program. The Company remains committed to maintaining a strong investment grade rating and reducing debt.
Announcement of Accelerated Share Repurchase Program

Today, the Company also announced that it plans to execute an accelerated share repurchase (ASR) agreement during the first quarter of 2022 to repurchase up to $5 billion of Bristol Myers Squibb common stock. The ASR is part of the Company’s previously disclosed multi-year $15 billion share repurchase authorization.

The total number of shares ultimately repurchased will be determined upon final settlement and will be based on a discount to the volume-weighted average price of Bristol Myers Squibb’s common stock during the ASR period.

Introduction of 2022 Financial Guidance

Bristol Myers Squibb is introducing the following guidance metrics for 2022:

Total company revenues are expected to be approximately $47 billion, representing an increase in the low-single digits.
Sales from key loss of exclusivity (LOE) brands, which represent Revlimid and Abraxane (paclitaxel protein-bound particles for injectable suspension) (albumin-bound), are expected to be approximately $10.5 billion. Revlimid sales are expected to be $9.5-$10 billion.
Our Continuing Business is expected to grow in the low-double digits and contribute approximately $36.5 billion in 2022 with growth from the new product portfolio and in-line products.
The Company’s non-GAAP EPS guidance is expected to be in the range of $7.65 – $7.95. Non-GAAP EPS guidance assumes current exchange rates.
The Company intends to provide additional 2022 financial guidance during its 2021 fourth quarter earnings conference call on February 4, 2022.

The 2022 financial guidance excludes the impact of any potential future strategic acquisitions and divestitures, and any specified items that have not yet been identified and quantified. The 2022 non-GAAP EPS guidance is further explained under "Use of Non-GAAP Financial Information." The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release.

Reaffirms Long-Term Financial Targets

Bristol Myers Squibb is also reaffirming its 2020-2025 long-term revenue and operating margin targets communicated in January 2021. The Company is extending its previously communicated guidance for free cash flow for an additional year as detailed below:

Expects low to mid-single digit revenue CAGR and low double-digit revenue CAGR excluding Revlimid and Pomalyst (pomalidomide)at constant exchange rates
Expects to maintain low to mid-40s percent non-GAAP operating margin
Expects significant cash flow generation of $45-$50 billion dollars from 2022-2024 compared to prior guidance of $45-$50 billion dollars from 2021-2023
This financial guidance excludes the impact of any potential future strategic acquisitions and divestitures as well as any specified items as discussed under "Use of Non-GAAP Financial Information." There is no reliable or reasonably estimable comparable GAAP measures for this non-GAAP financial guidance. The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release.

Company and Webcast Information

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.

Investors and the general public are invited to listen to a live webcast of the J.P. Morgan presentation at View Source Materials related to the presentation will be available at the same website at the start of the live webcast. An archived edition of the presentation will be available later that day.

Corporate-Financial News

Use of Non-GAAP Financial Information

In discussing financial results and guidance, the company refers to financial measures that are not in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including non-GAAP EPS, operating margin and free cash flow. These non-GAAP financial measures may provide investors with additional useful information. For example, non-GAAP earnings and EPS information are indications of the company’s baseline performance before items that are considered by us to not be reflective of the company’s ongoing results. This information is among the primary indicators that we use as a basis for evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting for future periods. In addition, non-GAAP operating margin, which is operating income excluding certain specified items as a percentage of revenues, is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by our management and make it easier for investors, analysts and peers to compare our operating performance to other companies in our industry and to compare our year-over-year results.

Because the non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related GAAP financial measures and may not be the same as or comparable to similarly titled measures presented by other companies due to possible differences in method and in the items being adjusted. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Also note that a reconciliation of the forward-looking non-GAAP EPS, free cash flow, and operating margin measures is not provided due to no reasonably accessible or reliable comparable GAAP measures and the inherent difficulty in forecasting and quantifying such measures that are necessary for such reconciliation. Namely, we are not able to reliably predict the impact of specified items or currency exchange rates beyond the next twelve months. As a result, the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is not available without unreasonable effort. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results.

Website Information

We routinely post important information for investors on our website, BMS.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. We may also use social media channels to communicate with our investors and the public about our company, our products and other matters, and those communications could be deemed to be material information. The information contained on, or that may be accessed through, our website or social media channels are not incorporated by reference into, and are not a part of, this document.

On January 10, 2022 LUMICKS, a next generation life science tools provider, reported that two major centers of excellence in cancer immunology have adopted LUMICKS’ z-Movi Cell Avidity Analyzer instrument (Press release, LUMICKS, JAN 10, 2022, View Source;utm_medium=rss&utm_campaign=z-movi-cell-avidity-analyzer-fred-hutch-oxford-university [SID1234598450]).

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The first placement is at Fred Hutchinson Cancer Research Center ("Fred Hutch") in Seattle, Washington, USA, a leading research institute dedicated to the eradication of cancer. The instrument is housed at the Immune Monitoring Core Facility and serves multiple immuno-oncology and cell therapy research groups from the Center to accelerate immunotherapy development for cancer treatments.

The second z-Movi is placed at the University of Oxford, in Oxford, UK, in the lab of Prof. Tim Elliott, a world leader in the field of antigen presentation and T cell biology. The teams of Prof. Elliott and Prof. Persephone Borrow are using the instrument to investigate a broad range of T cell–target interactions including the potency and longevity of T cells in solid tumors.

"The z-Movi Cell Avidity Analyzer provides an excellent platform for quantitating the avidity of interactions occurring between T cells and cognate antigen-presenting target cells during the induction and effector phases of an immune response." said Prof. Elliott and Prof. Borrow. "This enables dissection of attributes of both T cells and their interaction partners that influence the response to viral infections and cancer."

"We are delighted that our z-Movi instrument will be adopted into the workflows at Fred Hutch and University of Oxford, two institutions devoted to the development of promising immunotherapeutic strategies," said LUMICKS CSO Dr. Andrea Candelli. "At LUMICKS, we are focused on developing new technologies that help cancer researchers discover new therapies. We believe that cell avidity measurements provide unique insights into the mechanism of action of cell therapy products, ultimately leading to higher success rates for novel cancer immunotherapies."