CymaBay Therapeutics Announces Collaboration with Kaken Pharmaceutical Co., Ltd. to Develop and Commercialize Seladelpar in Japan for Primary Biliary Cholangitis

On January 8, 2023 CymaBay Therapeutics, Inc. (NASDAQ: CBAY) ("CymaBay" or the "Company") reported that it has entered into a collaboration and license agreement with Kaken Pharmaceutical Co., Ltd. ("Kaken") for the development and commercialization in Japan of CymaBay’s investigational drug seladelpar for the treatment of primary biliary cholangitis ("PBC") (Press release, CymaBay Therapeutics, JAN 8, 2023, View Source [SID1234625997]).

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Under the terms of the agreement, Kaken receives an exclusive license to develop, commercialize and market seladelpar in Japan for PBC. Kaken will make an upfront payment to CymaBay of ¥4.5 billion (approximately $34.0 million at current exchange rates) with additional potential milestone payments to CymaBay totaling up to ¥17.0 billion (approximately $128.4 million at current exchange rates) for the achievement of certain regulatory and sales milestones in addition to 20+% royalties. Kaken will be responsible for development, regulatory approval and commercialization of seladelpar in Japan.

There are currently no approved second line treatments for PBC in Japan, representing a significant unmet medical need for PBC patients in Japan.

"We are honored to collaborate with Kaken, a company that shares our passion and dedication to working together to bring to market novel therapies targeting serious rare diseases," said Sujal Shah, Chief Executive Officer of CymaBay. "Kaken is a well-regarded leader in development and commercialization in Japan with a proud history of scientific and medical innovation. By working together, we believe that if approved, we can potentially make seladelpar broadly available to Japanese patients to complement CymaBay’s efforts to provide access in the U.S. and other parts of the world. This collaboration is an important next step in achieving our vision of becoming the global leader in treating cholestatic liver diseases."

"We are pleased to begin a collaboration with CymaBay, a company with a strong passion toward developing novel therapeutics for cholestatic liver diseases," said Hiroyuki Horiuchi, President and Representative Director of Kaken. "With this collaboration, we hope we can help improve the lives of patients with cholestatic liver disease in Japan."

Fosun Pharma and Henlius Entered into an Exclusive License Agreement for Serplulimab in the USFosun Pharma and Henlius Entered into an Exclusive License Agreement for Serplulimab in the US

On January 7, 2023 Fosun Pharma (600196.SH, 02196.HK) reported that it has recently entered into an exclusive license agreement with Shanghai Henlius Biotech, Inc. (2696.HK) for the commercialisation of Henlius independently developed anti-PD-1 monoclonal antibody (mAb) serplulimab in the United States (US) (Press release, Fosun Pharma, JAN 7, 2023, View Source [SID1234626007]. This marks an important milestone for Fosun Pharma’s development in the US.

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Fosun Pharma will have the right to commercialise serplulimab upon approval in the US, and Henlius will retain responsibility for development, manufacturing, and supply. For many years, the two companies have worked closely on product commercialisation and other areas, developing consensus in terms of corporate vision and values, global development strategy, product operations, and management communication while focusing on patients’ and clinical needs. Through this collaboration, the two parties aim to intensively develop serplulimab, integrate superior resources, cooperate in securing approval, and promote its rapid launch in the United States to benefit more patients.

Mr. Wu Yifang, Chairman of Fosun Pharma, said, "We are very happy to make full use of Fosun Pharma’s accumulated innovation capabilities, internationalization advantages and commercialization capabilities over the years to promote the commercialization of an approved anti-PD-1 mAb serplulimab in the US market and help benefit more patients around the world. Fosun Pharma has always been patient-centered and clinical needs-oriented. We have been practicing internationalization strategies in the dimensions of innovative R&D, license introduction, production operation and commercialization, and continuously strengthening the construction of full capacity in global operations."

Mr. Wenjie Zhang, Chairman and CEO of Henlius, said, "We are excited to partner with Fosun Pharma in the United States on serplulimab. The impressive clinical data of serplulimab was published in the top international medical journal and has gained international attention. As we move forward, we’ll seek approvals for additional indications in China, the US, and the European Union. In the US, Fosun Pharma has a fast-growing commercialisation team and a dedicated sales network. Together, we will, upon approval, accelerate the launch of this differentiated anti-PD-1 mAb in the US market and benefit more overseas patients with high-quality biological drugs."

Joining Forces for a Global Blueprint

Founded in 1994, Fosun Pharma is a global innovation-driven pharmaceutical and healthcare industry group. Fosun Pharma strengthens its independent R&D and external cooperation and enriches its product pipelines, as well as promotes global networks. Thanks to its industry-leading two-way licensing capabilities and international advantages, Fosun Pharma helps maximize the value of innovative products of partners. In the international layout, Fosun Pharma focuses on building the U.S. operation center and conducts all-around capacity building in R&D, production, and sales in the local market. On the important partnership in the U.S. for serplulimab, and the potential impact on patients with lung cancer, Mr. Rong Yang, Senior Vice President of Fosun Pharma and CEO of Fosun Pharma USA Inc. said, "It is a very important step for us, an opportunity to be a part of the community, and serving patients with critical unmet needs, and making a difference every day."

Fully leveraging the experience of biologics development and harnessing the power of innovation, Henlius has built a vertically integrated biopharmaceutical platform with core capabilities of high-efficiency and innovation embedded throughout the whole product life cycle, including R&D, manufacturing and commercialisation, laying the solid foundation for a diversified and robust innovation pipeline. To date, 5 products have been successfully marketed in China, and 1 approved for marketing in overseas markets. The pipeline of products under development covers targets with great market potential, such as PD-1, HER2, EGFR, BRAF, etc. Synergising the innovation centres in China and the US and global product development teams, Henlius continues the momentum for a diversified innovation product pipeline and has conducted more than 20 clinical trials in China, the EU, the US, Australia, etc. with more than 70 clinical trial approvals worldwide. In terms of manufacturing capabilities, Henlius strictly follows the International Good Manufacturing Practice (GMP) standards for production and quality control. The products in the pipeline are produced by Henlius’s self-built manufacturing facilities, with rich production experience from clinical stages to commercialised products. Also, the manufacturing facilities have successfully passed the on-site inspection conducted by NMPA, the European Medicines Agency, the EU qualified person, and multiple international business partners, and are certified by China and EU GMP. Henlius’ strong R&D capabilities, international-standard quality management system, and production capacity enable Henlius to boost the global commercialisation of its products.

About HANSIZHUANG

HANSIZHUANG, as the product is known in China, (recombinant humanised anti-PD-1 monoclonal antibody injection, generic name: serplulimab injection) is the first innovative monoclonal antibody developed by Henlius. Up to date, 2 indications are approved for marketing in China, 2 NDAs have been accepted by the NMPA, and more than 10 clinical trials are ongoing across the world.

HANSIZHUANG was launched in China in March 2022 and has been approved by the NMPA for the treatment of MSI-H solid tumours and squamous non-small cell lung cancer (sqNSCLC). Its synergy with in-house products of the company and innovative therapies are being actively promoted. It has successively obtained clinical trial licenses in China, the United States, the European Union and other countries and regions to initiate 12 clinical trials on immuno-oncology combination therapies in a wide variety of indications, such as lung cancer, esophageal carcinoma, head and neck squamous cell carcinoma and gastric cancer, etc., and covering the full range of first-line treatments of lung cancers. As of now, the company has enrolled more than 3,100 subjects in China, Turkey, Poland, Georgia and other countries and regions, and the proportion of White is over 30% in two MRCTs, making HANSIZHUANG an anti-PD-1 mAb with one of the largest global clinical data pools. The NDAs of the first-line treatment for squamous non-small cell lung cancer (sqNSCLC), extensive-stage small cell lung cancer (ES-SCLC), and esophageal squamous cell carcinoma (ESCC) have been accepted by the NMPA, which makes HANSIZHUANG potentially the world’s first anti-PD-1 mAb for the first-line treatment of SCLC. Furthermore, HANSIZHUANG was recommended for the treatment of ES-SCLC in the 2022 CSCO Guidelines for Diagnosis and Treatment of Small Cell Lung Cancer (SCLC), and the associated clinical trial became the first study published in JAMA on SCLC immunotherapy. Serplulimab was also granted orphan drug designations by the FDA and EC for the treatment of SCLC, and the first patient has been dosed in a bridging head-to-head trial in the United States to comparing HANSIZHUANG to standard of care Atezolizumab (anti-PD-L1 mAb) for the first-line treatment of ES-SCLC.

Targeted protein decomposition technology successfully attracts KRW 17 billion in Series A investment

On January 6, 2023 Biotechnology company Fraser Therapeutics has completed attracting Series A investment from domestic venture capital (Press release, Prazer Therapeutics, JAN 6, 2023, View Source;idx=226&page=1&code=news [SID1234635351]). A total of KRW 17 billion was invested, and the corporate value after investment was recognized as approximately KRW 67 billion.

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Founded in October 2019, Fraser Therapeutics is challenging new drug development based on ‘SPiDEMTM’, a new platform technology that degrades target proteins. This is not only a new platform that overcomes the shortcomings of bio-based technology, but also an innovative method of targeting untargetable proteins (undruggable targets) in cells that cannot be accessed by any existing method.

Fraser Therapeutics, the first domestic company to build its own TPD Platform (Target Protein Degradation Platform), is pursuing the commercialization of Speedem.

Fraser Therapeutics said, "Based on our research and development know-how and expertise in Cell Signaling Pathway and Epigenetics, we will continue to develop treatments step by step, focusing on the field of immuno-anticancer drugs.

Ultragenyx Reports Preliminary 2022 Revenue; Guidance for 2023 Revenue and Cash Usage; Pipeline Updates and 2023 Milestones

On January 6, 2023 Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel products for serious rare and ultrarare genetic diseases, reported preliminary unaudited 2022 revenue results, cash and investments at year end 2022, and provided 2023 guidance on select key financial metrics including net cash used in operations (Press release, Ultragenyx Pharmaceutical, JAN 6, 2023, View Source [SID1234626002]).

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"We have made substantial investments in our pipeline and manufacturing capabilities over the last two years that put us in a special position to advance multiple transformative treatments in late-stage development while continuing to drive revenue growth, delivering approved medicines globally for rare disease patients," said Emil D. Kakkis, M.D., Ph.D., chief executive officer and president of Ultragenyx. "We have also made a substantial effort to focus on key value drivers within the pipeline and reduce cash spending to maintain our strong financial position through 2023."

Ultragenyx will present at the 41ᵗʰ annual J.P. Morgan Healthcare Conference on Tuesday, January 10, 2023 at 9:45 a.m. PT. The live and archived webcast of the presentation will be accessible from the company’s website at View Source

Financial Update

2022 Revenue (unaudited) and 2023 Revenue Guidance ($ in millions)

2022 2023
Preliminary Revenue Revenue Guidance
Crysvita in Ultragenyx Territories1 $257 – $258
Total Crysvita $277 – $279 $325 – $340
Dojolvi $55 – $56 $65 – $75
Total Product Revenue $352 – $356 $425 – $450
In 2023, Crysvita guidance is provided for all regions where Ultragenyx will recognize revenue, including the royalties in Europe, which have been ongoing, and the royalties in North America, which will begin in April 2023. The mid-point of the Total Crysvita guidance range represents a 20% year-over-year growth rate, as compared to the same regions in 2022.

2022 Ending Cash Position (unaudited) and 2023 Cash Used in Operations Guidance
Cash, cash equivalents, and available-for-sale investments were approximately $900 million as of December 31, 2022. Cash uses in 2022 included non-recurring items of approximately $90 million for capital expenses for the gene therapy manufacturing facility, which is nearing completion, $75 million for the acquisition of GeneTx and $30 million upfront fee related to the Evkeeza license and collaboration agreement.

In 2023 with increased focus on key pipeline value drivers, net cash use is projected to be meaningfully reduced. Net Cash Used in Operations for 2023 is expected to be less than $400 million.

The 2022 revenues and cash position included in this release are preliminary and are therefore subject to adjustment. The preliminary revenue results are based on management’s initial analysis of operations for the year ended December 31, 2022. The Company expects to issue full financial results for the fourth quarter and fiscal year 2022 in February 2023.

Recent Updates and 2023 Clinical Milestones

UX143 (setrusumab) monoclonal antibody for Osteogenesis Imperfecta (OI): Phase 2/3 study dosing patients; Phase 2 data expected in mid-2023
Ultragenyx is currently dosing patients in the Phase 2/3 Orbit study of UX143 in pediatric and adult patients with OI aged five to <26 years. Enrollment completion is anticipated in early 2023 and data from the Phase 2 portion of the study is expected in mid-2023, including two-month changes in bone biomarkers response that will be used to establish the dosing algorithm for the Phase 3 portion of the study. Optimizing the dosing across the age range of the study will support meaningful benefit in the reduction of clinically evident fractures.

In addition, in the first half of 2023, Ultragenyx intends to initiate a randomized study in OI in children under age five with severe bone disease, comparing bisphosphonates to setrusumab. Younger pediatric patients with OI often have a much higher fracture rate than other age groups and a greater medical need, driving clinical urgency for better treatment options. Total fractures is expected to be the primary endpoint in the study.

GTX-102 an antisense oligonucleotide for Angelman Syndrome: Phase 1/2 continues dose exploration
Ultragenyx continues to explore the dose of GTX-102 in cohorts of younger and older patients. Expansion of the dosing cohort population is expected in the first half of 2023.

DTX401 AAV gene therapy for Glycogen Storage Disease Type Ia (GSDIa): Last patient in the Phase 3 study has entered the baseline screening period. Phase 3 data readout expected in the first half of 2024
.
The Phase 3 study has a 48-week primary efficacy analysis period, and the company has enrolled approximately 50 patients eight years of age and older, randomized 1:1 to DTX401 or placebo. The primary endpoint is the reduction in oral glucose replacement with cornstarch while maintaining glucose control. The last patient has entered the baseline screening phase of the Phase 3 study of DTX401, with Phase 3 data expected in the first half of 2024.

UX701 AAV gene therapy for Wilson Disease: Stage 1 of pivotal clinical study dosing patients; expect interim Stage 1 enrollment completion in mid-2023
The company is dosing patients in the first stage of the Cyprus2+ study of UX701 under a recently amended protocol that removes placebo from the dose finding stage and enrolls five patients per cohort. During this stage of the study, safety and efficacy of up to three dose levels of UX701 will be evaluated and a dose will be selected for further evaluation in Stage 2. Completion of Stage 1 enrollment is expected in mid-2023 with data on safety and initial signs of clinical activity expected in early 2024.

DTX301 AAV gene therapy for Ornithine Transcarbamylase (OTC) Deficiency: Phase 3 study expected to initiate in the first quarter of 2023

Ultragenyx expects to initiate the Phase 3 study of DTX301 in patients with OTC in the first quarter of 2023. The 64-week study will include approximately 50 patients, randomized 1:1 to DTX301 or placebo. The primary endpoints are response as measured by removal of ammonia-scavenger medications and protein-restricted diet and change in 24-hour ammonia levels.

1: Ultragenyx territories include the collaboration revenue from the North American profit share territory (U.S. and Canada) and other regions where revenue from product sales is recognized by Ultragenyx (Latin America, Turkey). This excludes the European territory revenue, which is recognized as non-cash royalty revenue since the rights were sold to Royalty Pharma in December 2019.

Mersana Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

On January 6, 2023 Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, reported that on January 3, 2023, an authorized sub-committee of the Board of Directors of Mersana granted inducement awards, consisting of stock options to purchase an aggregate of 25,575 shares of its common stock and restricted stock unit awards (RSUs) to acquire an aggregate of 26,700 shares of its common stock, to five new employees whose employment commenced in December 2022 (Press release, Mersana Therapeutics, JAN 6, 2023, View Source [SID1234626000]). The awards were granted pursuant to terms and conditions fixed by the Compensation Committee and as an inducement material to each new employee entering employment with Mersana in accordance with Nasdaq Listing Rule 5635(c)(4).

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The option awards have an exercise price of $5.73 per share, which is equal to the closing price of Mersana’s common stock on January 3, 2023. Each option has a 10-year term and will vest over a period of four years, with 25% of the shares vesting on the one-year anniversary of the commencement of the employee’s employment and the remainder vesting in equal quarterly installments over the following three years, subject to the applicable employee’s continued service with Mersana on each such vesting date. The options are subject to the terms and conditions of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and conditions of a stock option agreement covering each grant.

The RSUs will vest in four equal annual installments starting November 15, 2022, subject to the applicable employee’s continued service with Mersana on each such vesting date. The RSUs are subject to the terms and conditions of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and conditions of an RSU agreement covering each grant.