Consolidated Financial Results for the Fiscal Year Ended December 31, 2023

ON February 14, 2024 Otsuka reported its Consolidated Financial Results for the Fiscal Year Ended December 31, 2023 (Filing, 3 mnth, DEC 31, Otsuka, 2023, FEB 14, 2024, View Source [SID1234642371]).

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NextPoint Therapeutics Announces Closing of Series B Financing Extension Led by Catalio Capital Management

On February 14, 2024 NextPoint Therapeutics, a clinical-stage biotechnology company developing a new class of precision oncology therapeutics targeting the novel HHLA2 pathway, reported the closing of a $42.5M Extension to its Series B financing round resulting in a total of $122.5M raised in the Series B financing (Press release, NextPoint Therapeutics, FEB 14, 2024, View Source [SID1234640112]). The funds will be used to advance the company’s two immuno-oncology clinical programs, NPX267 and NPX887, as well as propel the development of additional therapeutic modalities in the pipeline that target the novel HHLA2 tumor antigen.

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The Extension was led by existing investor Catalio Capital Management, and as part of the financing, R. Jacob Vogelstein, PhD, has joined the NextPoint Board of Directors. Catalio is joined by other existing investors including MPM BioImpact, Leaps by Bayer, Sanofi Ventures, Invus, Sixty Degree Capital, Dana-Farber Cancer Institute’s Binney Street Capital and NextPoint founder Gordon Freeman, PhD. Along with Catalio, new investors Arkin Bio-Capital and WTT investment Ltd were the largest participants in this fundraising.

"Catalio is committed to investing in the next generation of category-defining life sciences companies and NextPoint’s mission of delivering groundbreaking new options to more patients with cancer strongly resonates with our own," said R. Jacob Vogelstein, PhD, Co-Founder & Managing Partner of Catalio Capital Management. "We are delighted to support the company’s pipeline growth and advancement and look forward to being a strong partner for the future."

"This financing strategically expands NextPoint’s group of high-quality investors and further transforms the company’s innovative pipeline to progress monotherapy treatments with a novel clinical biomarker," commented Detlev Biniszkiewicz, PhD, Chairman of NextPoint’s Board of Directors. "We are excited to reshape immunotherapy into precision oncology and give hope to patients living with cancer."

"This new round of financing underscores the support and confidence of our premier syndicate of investors, and we are well positioned to build upon our growing pipeline of multi-modal therapeutics targeting the novel HHLA2 pathway," said Ivan Cheung, CEO of NextPoint. "We are advancing a diverse set of assets into clinical trials to exploit HHLA2’s role as both a novel immune checkpoint and a tumor-targeting mechanism. We are thrilled to pioneer a new class of monotherapies to treat both hot and cold tumors."

Beactica Therapeutics’ TEAD programme selected for late-breaking research presentation at the AACR Annual Meeting 2024

On February 14, 2024 Beactica Therapeutics AB, the Swedish precision oncology company, reported that its TEAD programme has been selected for a late-breaking presentation at the American Association for Cancer Research (AACR) (Free AACR Whitepaper)’s Annual Meeting 2024 (Press release, Beactica, FEB 14, 2024, View Source [SID1234640111]). The conference will take place on April 5-10, 2024 in San Diego, California.

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Dr Peter Brandt, Head of Chemistry, will present a poster entitled Degraders of TEAD transcription factors based on interface 3 binders on Sunday April 7, 2024, at 1:30 PM – 5:00 PM. The location is at the San Diego Convention Center, Section 52, abstract presentation number: LB029. The session title is Late-Breaking Research: Chemistry.

The presentation will include new positive results from studies with novel proteolysis-targeting degraders of TEAD based on interface 3-binding ligands under development by Beactica. This will include head-to-head in vitro comparisons with other classes of TEAD modulators in clinical development such as palmitoylation inhibitors and direct YAP–TEAD protein–protein interaction inhibitors. The work to be presented contains contributions by Beactica’s collaborators at the National Center for Advancing Translational Sciences (NCATS), one of 27 institutes and centers at the U.S. National Institutes of Health (NIH).

Organised by the American Association for Cancer Research (AACR) (Free AACR Whitepaper), the AACR (Free AACR Whitepaper) Annual Meeting is the largest and most important cancer drug discovery event in the world. It has an anticipated attendance of more than 20 000 scientists, clinicians, advocates, and other attendees. The event spans integrative cancer science, global impact, individualised patient care and showcases the best and most up-to-date cancer science available.

About TEAD

TEAD 1–4 (Transcriptional Enhanced Associate Domain) are transcription factors that together with its coactivators YAP (Yes-associated protein) and TAZ (transcriptional coactivator with PDZ-binding motif) play key roles in the Hippo signalling pathway that regulates cell proliferation, apoptosis, and stemness. Dysregulation of the Hippo pathway and subsequent activation of TEAD has been reported in a wide range of cancers such as squamous cell carcinoma, head and neck, gynaecological, and gastrointestinal cancers. The first clinical proof-of-concept for drugging the Hippo–YAP–TEAD pathway was achieved with the TEAD inhibitor VT3989 and was presented at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting in April 2023.

Glenmark Pharmaceuticals Ltd. reports Consolidated Revenue of Rs. 29,096 Mn for Q3 FY 2023-24

On February 14, 2024 Glenmark Pharmaceuticals Ltd. (Glenmark), a research-led, global pharmaceutical Company, reported its financial results for the third quarter ended December 31, 2023 (Press release, Glenmark, FEB 14, 2024, View Source;302061929.html [SID1234640110]).

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Consolidated Figures (Glenmark and Glenmark Life Sciences Ltd. [GLS] combined)

For the third quarter of FY 2023–24, Glenmark’s consolidated revenue was at Rs. 29,096 Mn as against Rs. 34,639 Mn recording a decline of 16% YoY. The lower sales in the current quarter are mainly on account of a one-time impact on the Company’s India business. Excluding this impact, Glenmark’s consolidated revenue in Q3 FY24 would have been approximately Rs. 37,796 Mn, with an approximate growth of 9% over previous year.

Adjusted1 EBITDA was at Rs. 289 Mn in the quarter ended Dec 31, 2023 as against Rs. 6,202 Mn in the previous corresponding quarter.

During Q3 FY 2023-24, the Company implemented changes in its overall distribution model of its India business, through consolidation of stock points and rationalization of channel inventories. This led to a temporary dip in sales for the India business during the quarter. However, going forward, this will help improve the Company’s operating margins and overall working capital. These changes in the India distribution system will also enable the Company to accelerate the roll-out of its anti-counterfeit packaging across the country.

Reported Figures (Continuing Operations – Glenmark excluding GLS)

For the third quarter of FY 2023–24, Glenmark’s revenue was at Rs. 25,067 Mn as against Rs. 31,002 Mn recording a decline of 19% YoY.

Adjusted1 EBITDA was at Rs. -1,444 Mn in the quarter ended Dec 31, 2023 as against Rs. 4,740 Mn in the previous corresponding quarter.

Ryvu Announces Dosing of the First Patient in the RIVER-52 Phase II Study of RVU120 as a Monotherapy for the Treatment of Patients with Relapsed/Refractory AML and HR-MDS

On February 14, 2024 Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery and development company focusing on novel small molecule therapies that address emerging targets in oncology, reported that the first patient has been dosed with the study drug in a Phase II clinical trial investigating RVU120 as a monotherapy for the treatment of patients with relapsed/refractory acute myeloid leukemia (r/r AML) and high-risk myelodysplastic syndromes (HR-MDS) – the RIVER-52 study (Press release, Ryvu Therapeutics, FEB 14, 2024, View Source [SID1234640109]).

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The primary goal of the RIVER-52 study will be to evaluate safety and efficacy of RVU120 in a larger population of patients with genetically defined subtypes of AML, including NPM1 mutations, as well as with HR-MDS. The evaluation will be conducted at the dose level of 250 mg EOD (Every Other Day), identified in the Phase Ib clinical study, where numerous signs of clinical activity have been observed.
The RIVER-52 study is initially launching at clinical sites in Poland and Italy. Ultimately, the study will expand to other EU and non-EU countries, covering up to 80 clinical sites globally. The planned overall enrollment is up to approx. 140 patients.
The study is part of RVU120’s Development Plan presented in October 2023 and aligns with the company’s cash runway to Q1 2026.
In H1 2024, Ryvu plans to launch four Phase II RVU120 clinical studies in r/r AML, HR-MDS, LR-MDS and myelofibrosis, and plans to enroll over 100 patients by the end of the year. Ryvu aims to prioritize further development options in Q1 2025 based on the study outcomes. Clinical trials conducted in various hematological indications and treatment regimens (monotherapy and combination therapy) will contribute to the global RVU120 safety database, supporting potential future regulatory approvals.
RVU120 is a selective, first-in-class dual CDK8/19 kinase inhibitor developed by Ryvu Therapeutics. RVU120 monotherapy has demonstrated clinical activity in a Phase Ib study, where 50% of evaluable patients with r/r AML or HR-MDS achieved clinical benefit, including a complete response, a morphologic leukemia-free state, transition to a bone-marrow transplant, two-year disease stabilization, multiple clinically significant blast reductions, hematologic improvements, and reduction of bone marrow fibrosis.

Hendrik Nogai, M.D., Chief Medical Officer of Ryvu Therapeutics, said:

– We are pleased to announce the initiation of another RVU120 Phase II study, in line with the development plans presented last year. Based on the demonstrated safety profile and observed signs of activity from the Phase Ib study in patients with r/r AML or HR-MDS, we continue to be at the forefront of developing first-in-class CDK8/19 inhibitors. This marks a significant step towards our goal of effectively treating various hematological diseases and providing therapeutic options for patients with unmet medical needs.

Kamil Sitarz, Ph.D., Chief Operating Officer of Ryvu Therapeutics, said:

– With up to 80 clinical sites planned worldwide and a global operational focus, we aim to maximize efficient patient enrollment and ensure the timely execution of the RIVER-52 study, moving RVU120 towards a potential accelerated regulatory approval pathway.

RIVER-52 is a multicenter, open-label clinical trial designed to evaluate RVU120 in adult patients with r/r AML and HR-MDS, without alternative therapies. The study aims to assess the safety, tolerability, anti-tumor activity (efficacy), pharmacokinetics (PK), and pharmacodynamics (PD) of RVU120 as a monotherapy in the above-mentioned patient populations.

The study is divided into two parts. Part 1 aims to assess the level of anti-tumor activity in patients with genetically defined subtypes of AML, including NPM1 mutations, and in patients with HR-MDS. Based on the outcomes of Part 1, Part 2 will further evaluate the safety, tolerability, and anti-tumor activity in a larger group of patients within the subtypes that exhibit the highest sensitivity to RVU120.

The study has received approval from the Competent Authorities in Poland and Italy following a clinical trial application under the European Union Clinical Trial Regulation (EU-CTR) 536/2014, as well as positive opinions from the respective Ethics Committees, enabling patient enrollment in both countries. Start-up activities in other EU and non-EU countries are currently in progress.

RIVER-52 represents the second of the four planned RVU120 Phase II clinical studies scheduled for launch in H1 2024. In addition to RIVER-52, Ryvu has already started patient treatment in the RIVER-81 study (evaluating RVU120 in combination with venetoclax for treating r/r AML patients). Upcoming plans also include the initiation of the REMARK study (conducted as an investigator-initiated trial, exploring RVU120 as a monotherapy for the treatment of patients with low-risk myelodysplastic syndromes; LR-MDS) and the POTAMI-61 study (evaluating both monotherapy and combination therapy for the treatment of patients with myelofibrosis; MF).