On December 27, 2023 Eli Lilly and Company (NYSE: LLY) reported the successful completion of its acquisition of POINT Biopharma Global Inc. (NASDAQ: PNT), a radiopharmaceutical company with a pipeline of clinical and preclinical-stage radioligand therapies in development for the treatment of cancer (Press release, Eli Lilly, DEC 27, 2023, View Source [SID1234638802]).

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"Next generation radioligand therapies hold great promise for delivering meaningful advances against a range of cancers and we are excited to enter this space through the addition of POINT," said Jacob Van Naarden, executive vice president and president, Loxo@Lilly. "We welcome POINT colleagues to Lilly and look forward to working together to build on their work as we create this new capability within Lilly. In time, I hope we can bring several new radioligand therapies to patients with cancer and improve their outcomes."

The Offer and the Merger
Lilly’s tender offer to acquire all of the issued and outstanding shares of common stock of POINT at a purchase price of $12.50 per share in cash, without interest and less any applicable tax withholding, expired as scheduled at 5:00 p.m., Eastern time, on Dec. 22, 2023, and was not further extended. Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has advised Lilly that as of the expiration of the tender offer, 72,788,215 shares were validly tendered and not properly withdrawn, representing approximately 67.97% of the issued and outstanding shares. Such shares have been accepted for payment and will be promptly paid for in accordance with the terms of the tender offer. Following completion of the tender offer, Lilly completed the acquisition of POINT through the previously planned second-step merger. POINT’s common stock will be delisted from the NASDAQ Capital Market.

For Lilly, Goldman Sachs & Co. LLC is acting as exclusive financial advisor and Kirkland & Ellis LLP is acting as legal counsel. For POINT, Centerview Partners LLC is acting as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel.

On December 27, 2023 AbelZeta Pharma, Inc. ("AbelZeta" or the "Company"), a global clinical-stage biopharmaceutical company focused on discovery and development of innovative and proprietary cell-based therapeutic products, reported that Tony (Bizuo) Liu, Chairman and CEO, will present an update on the Company at the 42nd Annual J.P. Morgan Healthcare Conference on January 10, 2024 (Press release, AbelZeta, DEC 27, 2023, View Source [SID1234638801]).

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Live Presentation: January 10, 2024
Time: 8:00-8:25am PT
Location: Mission Bay (32nd Floor) The Westin, San Francisco

On December 26, 2023 LegoChem Biosciences, Inc. (KOSDAQ: 141080) reported on December 22 that it has entered into a license agreement with Janssen Biotech, Inc. (Janssen), a Johnson & Johnson company, to develop and commercialize LCB84, a Trop2 directed antibody drug conjugate (ADC) (Press release, LegoChem Biosciences, DEC 26, 2023, View Source [SID1234638818]).

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Under the terms of the agreement, LCB will grant Janssen an exclusive, worldwide license for the development and commercialization of LCB84. LCB is eligible for up to potentially USD 1.7 billion in total consideration including an upfront payment of USD 100 million, an option exercise payment of USD 200 million as well as potential development, regulatory, and commercial milestone payments, plus tiered royalties on net sales. The companies will collaborate during the ongoing Phase 1/2 clinical trial, with Janssen solely responsible for clinical development and commercialization after option exercise.

LCB84, a Trop2 directed ADC applying LCB’s next-generation ADC platform technology and Trop2 antibody licensed from Mediterranea Theranostic, S.r.l, is being studied in a recently initiated Phase 1/2 clinical trial in the U.S. The ADC has a distinctive targeted mechanism, binding a unique cleaved form of the Trop2 antigen, which is highly expressed in cancer cells. Preclinical data demonstrated a differentiated safety and efficacy profile compared across multiple cancers, showing LCB84’s promise as a Trop2-targeting ADC.

"We are very pleased to collaborate with Janssen on LCB84, our first wholly in-house developed clinical stage ADC," said Yong-Zu Kim, President and CEO of LCB. "We look forward to continuing to build our global clinical development capabilities and advance other ADC programs into the clinic."

On December 26, 2023 Immunome, Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, reported that it entered into a definitive asset purchase agreement with Atreca, Inc. (Nasdaq: BCEL) to acquire a collection of antibody-related assets and materials (Press release, Immunome, DEC 26, 2023, View Source [SID1234638800]).

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"We believe that novel and underexplored targets will drive the next generation of transformative ADCs. These antibody-related assets will expand our toolbox, complementing our existing programs as we advance our mission of developing innovative treatments for cancer patients," stated Clay B. Siegall, Ph.D., Chairman and Chief Executive Officer of Immunome.

Under the terms of the asset purchase agreement, Immunome would pay Atreca a $5.5 million upfront payment and up to $7.0 million in clinical development milestones. Completion of the transaction is subject to customary conditions including Atreca obtaining a required stockholder vote.

On December 26, 2023 Jemincare, a leading pharmaceutical company from China, reported that its wholly owned subsidiary company, Shanghai Jemincare Pharmaceutical Co., Ltd., recently received 6 approvals of clinical trials for its innovative drugs in the field of cancer, kidney and anti-infectious diseases, including 4 approvals from National Medical Products Administration (NMPA) and 2 approvals from the U.S. Food & Drug Administration (FDA) (Press release, Jemincare Therapeutics, DEC 26, 2023, View Source [SID1234638799]).

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On December 20, NMPA has approved a clinical trial for JMKX003801 to treat serious infection caused by Gram-negative bacteria. Drug resistance of antibiotics, especially carbapenem resistance, in Escherichia coli, Klebsiella pneumoniae, Acinetobacter baumannii and Pseudomonas aeruginosa has risen year by year. Preclinical studies on its mechanism show that JMKX003801 can overcome carbapenem resistance with very broad antibacterial spectrum.

On December 12, NMPA has approved a clinical trial for JMKX003142 to treat renal edema. There are about 120 million patients of chronic kidney disease (CKD) in China. The rise of proteinuria during the late stage of CKD will cause edema. Research has shown that JMKX003142 can improve patients’ quality of life with minor side effects as a novel diuretic drug.

On November 28, NMPA has approved a clinical trial for JMKX003948 to treat renal cell carcinoma. In China, the number of newly diagnosed patients suffered from renal cell carcinoma is around 60 to 80 thousand each year. Since the failure of TKI and/or PD-1 immunotherapy, there is no other drug with new mechanism. Preclinical studies indicate that JMKX003948 show significant effect in animal models with a different mechanism of action.

On December 12, FDA has approved a clinical trial for JMKX000197 to treat BCG-unresponsive non-muscle-invasive bladder cancer, and earlier on October 19, NMPA has approved the clinical trial. Bladder cancer is the most common malignant tumor in bladder system and the number of newly diagnosed patients with bladder tumor is around 80 thousand each year in China. Preclinical studies indicate that JMKX000197 can regulate the immune system and show significant anti-tumor effect in BCG-unresponsive animal models.

Earlier on November 9, FDA has approved a clinical trial for JMKX003002 to treat hyperphosphatemia in end-stage kidney disease patients on dialysis. There are about 120 million patients of CKD in China and CKD causes hyperphosphatemia and CKD-mineral and bone disorder. As a novel drug to reduce phosphorus, JMKX003002 is expected to reduce phosphorus with a long-lasting effect and better oral compliance to improve the patients’ quality of life.