Abcuro Announces Participation in Upcoming Investor Conferences

On August 29, 2024 Abcuro, Inc., a clinical stage biotechnology company developing therapies for the treatment of autoimmune diseases and cancer through precise modulation of cytotoxic T cells, reported that Alex Martin, Chief Executive Officer, will present at the following investor conferences (Press release, Abcuro, AUG 29, 2024, View Source [SID1234646192]).

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Morgan Stanley 22nd Annual Global Healthcare Conference: Presentation on September 5, 2024, at 2:35 pm E.T.
Stifel Virtual Immunology and Inflammation Summit: Presentation on September 18, 2024, at 2:00 pm E.T.

2seventy bio to Participate in the 2024 Morgan Stanley Global Healthcare Conference

On August 29, 2024 2seventy bio, Inc. (Nasdaq: TSVT), reported that members of the management team will participate in a fireside chat at the upcoming Morgan Stanley 22nd Annual Global Healthcare Conference on September 6, 2024 at 12:20 p.m. ET in New York (Press release, 2seventy bio, AUG 29, 2024, View Source [SID1234646190]).

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A live webcast of the fireside chat will be available via the Investors and Media section of the company’s website at View Source Replays will be archived on the 2seventy bio website for 30 days following the events.

Merck Provides Update on Phase 3 KEYNOTE-867 and KEYNOTE-630 Trials

On August 29, 2024 Merck (NYSE: MRK), known as MSD outside of the United States and Canada, reported updates on two Phase 3 trials, KEYNOTE-867 and KEYNOTE-630 (Press release, Merck & Co, AUG 29, 2024, View Source [SID1234646187]). Merck is discontinuing the Phase 3 KEYNOTE-867 trial evaluating KEYTRUDA (pembrolizumab), Merck’s anti-PD-1 therapy, in combination with stereotactic body radiotherapy (SBRT) for the treatment of patients with stage I or II (stage IIB N0, M0) non-small cell lung cancer (NSCLC), including those who are medically inoperable or have refused surgery. This decision is based on the recommendation of an independent Data Monitoring Committee (DMC), which reviewed data from a planned interim analysis. At the pre-specified interim analysis, KEYTRUDA in combination with SBRT did not demonstrate an improvement in event-free survival (EFS) or overall survival (OS), the study’s primary endpoint and key secondary endpoint, respectively, compared to placebo plus SBRT, and the benefit/risk profile of the combination did not support continuing the trial. KEYTRUDA in combination with SBRT was associated with higher rates of adverse events (AEs), including AEs leading to death, compared with SBRT and placebo.

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Merck is also discontinuing the Phase 3 KEYNOTE-630 trial evaluating KEYTRUDA for the adjuvant treatment of patients with high-risk locally advanced cutaneous squamous cell carcinoma (cSCC) following surgery and radiation, based on the recommendation of an independent DMC. The DMC recommended that the study should be stopped for futility as the risk/benefit profile did not support continuing the trial. Data from a pre-planned analysis showed that KEYTRUDA did not cross the boundary for statistical significance in recurrence-free survival (RFS), the study’s primary endpoint. The study’s key secondary endpoint, OS, was not formally tested, but at the time of the analysis, the results did not favor KEYTRUDA compared to placebo. The safety profile of KEYTRUDA in this trial was consistent with the established safety profile of KEYTRUDA.

Merck has informed study investigators and advises patients in the studies to speak to their study team and physician regarding next steps and treatment options. Data analyses for KEYNOTE-867 and KEYNOTE-630 are ongoing, and the results will be shared with the scientific community and regulatory agencies.

"Our understanding of cancer and how it can be treated has rapidly evolved in recent years, but unmet needs remain across different types of cancer and stages of disease," said Dr. Marjorie Green, senior vice president and head of oncology, global clinical development, Merck Research Laboratories. "That is why we continue our rigorous exploration of innovative treatment approaches in cancers with high unmet need, such as non-small cell lung cancer and cutaneous squamous cell carcinoma, with the goal to help even more patients. We are extremely grateful to all of the patients, caregivers and investigators for their participation in these studies."

About KEYNOTE-867

KEYNOTE-867 is a randomized, double-blind Phase 3 trial (ClinicalTrials.gov, NCT03924869) evaluating KEYTRUDA plus SBRT compared to placebo plus SBRT for the treatment of adult patients with unresected stage I or II (stage IIB N0, M0) NSCLC. Patients in KEYNOTE-867 were medically inoperable, which included patients who could not undergo thoracic surgery due to existing medical illness(es) or anatomically unresectable tumor, or who decided to treat with SBRT as definitive therapy rather than surgery, and had an Eastern Cooperative Oncology Group (ECOG) performance status of 0, 1, or 2. The primary endpoint is EFS, and key secondary endpoints include OS and safety. EFS is defined as the time from randomization to the first occurrence of local, regional, or distant recurrence of disease, or death due to any cause. The trial enrolled an estimated 436 patients who were randomized 1:1 to receive either:

KEYTRUDA (200 mg) every three weeks (Q3W) for up to 17 cycles (up to approximately one year) plus SBRT once every three days for three, four, five or eight fractions (dependent on tumor type/location; 45-70 Gray total) over approximately two weeks; or
Placebo Q3W for up to 17 cycles (up to approximately one year) plus SBRT once every three days for three, four, five or eight fractions (dependent on tumor type/location; 45-70 Gray total) over approximately two weeks.
About KEYNOTE-630

KEYNOTE-630 is a randomized, double-blind Phase 3 trial (ClinicalTrials.gov, NCT03833167) evaluating KEYTRUDA as adjuvant therapy in patients with high-risk locally advanced cSCC who have undergone surgery with or without positive margins and completed adjuvant radiotherapy compared to placebo. The primary endpoint is RFS, and key secondary endpoints include OS and safety. The trial enrolled an estimated 430 patients who were randomized to receive either:

KEYTRUDA (400 mg intravenously [IV] every six weeks [Q6W] for up to nine cycles) as adjuvant therapy following surgery and radiation; or
Placebo (IV Q6W for up to nine cycles) as adjuvant therapy following surgery and radiation.
About lung cancer

Lung cancer is the leading cause of cancer death worldwide. In 2022 alone, there were approximately 2.48 million new cases and 1.8 million deaths from lung cancer globally. Non-small cell lung cancer is the most common type of lung cancer, accounting for about 80% of all cases. In 2024, the overall five-year survival rate for patients diagnosed with lung cancer is 25% in the United States. Improved survival rates are due, in part, to earlier detection and screening, reduction in smoking, advances in diagnostic and surgical procedures, as well as the introduction of new therapies. Early detection and screening remain an important unmet need, as 44% of lung cancer cases are not found until they are advanced.

About cutaneous squamous cell carcinoma

Cutaneous squamous cell carcinoma is the second most common non-melanoma skin cancer and forms in squamous cells, which are in the outer part of the epidermis. This type of skin cancer is usually caused by prolonged exposure to ultraviolet (UV) radiation, either from the sun or from artificial sources, such as tanning beds. Cutaneous squamous cell carcinoma is five times more prevalent than melanoma, and prevalence has been increasing for many years, likely due to better skin cancer detection, more sun exposure and people living longer. In the U.S., an estimated 1.8 million cases of cSCC are diagnosed each year, accounting for approximately 20% of all skin cancer cases.

Circio Holding ASA: First half 2024 results

On August 29, 2024 Circio Holding ASA (OSE: CRNA), a biotechnology company developing novel circular RNA gene therapies, reported its first half-year 2024 results (Press release, Circio, AUG 29, 2024, View Source [SID1234646152]).

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Circio’s management will present the results in a live-streamed webcast at 10:00 am CEST to investors, analysts and the press. Click here for access to the live webcast

Questions can be submitted by email in advance (to: [email protected]) and during the presentation.

Reporting material attached to this press release:

Circio first-half year report 2024
Circio 1H24 webcast presentation
The report and presentation are also available at www.circio.com

First half-year 2024 highlights

Corporate

In January, Business Finland approved Circio’s application for a waiver of three R&D loans totaling NOK 71.3 million
In May, launched a financing transaction securing cash runway for 12 months through a rights issue and parallel commitment from Atlas Capital Markets
Cash burn of NOK 19 million, representing a 68% reduction versus 1H23
Circular RNA

In April, announced technical in vivo proof-of-concept for its proprietary circVec circular RNA platform with >4-month expression durability
In May, presented two circVec posters at the American Society of Gene & Cell Therapy (ASGCT) (Free ASGCT Whitepaper) 2024 annual meeting in Baltimore, USA
In June, announced a new generation circVec 2.2, achieving 2-4-fold higher expression than v2.1 and up to 15x improvement over mRNA expression
Mutant KRAS

In February, announced that the first patient was dosed in the Georgetown University Phase 2 study, testing TG01 in a triple combination in collaboration with Janssen and BMS
In March, the Chinese National Medical Products Administration (NMPA) approved the investigational new drug (IND) application of TG01

Entry Into a Material Definitive Agreement

On August 28, 2024, BioMarin Pharmaceutical Inc., a Delaware corporation (the "Company"), reported to have entered into a Credit Agreement (the "Credit Agreement") with Citibank, N.A., as Administrative Agent ("Citibank" or the "Administrative Agent"), and the Lenders party thereto (the "Lenders") (Filing, 8-K, BioMarin, AUG 28, 2024, View Source [SID1234646337]).

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The Credit Agreement provides for up to $600 million in revolving loans (the "Revolving Credit Facility"), none of which was drawn at closing. Subject to the satisfaction of certain conditions precedent, the Company will be entitled to draw funds at its discretion until the Revolving Credit Facility matures on August 28, 2029 (the "Maturity Date"), at which time all outstanding loans shall become due and payable and all outstanding letters of credit shall be cash collateralized. The Company expects to use the proceeds of the Revolving Credit Facility to finance ongoing working capital needs and for other general corporate purposes.

Loans under the Credit Agreement will bear interest at a floating rate per annum based on (i) in the case of US dollar denominated loans, either (x) the Secured Overnight Financing Rate (subject to a zero percent floor), plus a spread adjustment of 10 bps ("Term SOFR"), plus a margin ranging from 112.5 bps to 175 bps per annum, based upon the Company’s total net leverage ratio or (y) the Base Rate, which is the highest of (A) the Federal Funds Rate plus 50 bps, (B) Citibank’s "prime rate", or (C) Term SOFR plus 100 bps, plus a margin ranging from 12.5 bps to 75 bps per annum, based upon the Company’s total net leverage ratio; (ii) in the case of euro denominated loans, the Euro Interbank Offered Rate ("EURIBOR"), plus a margin ranging from 112.5 bps to 175 bps per annum, based upon the Company’s total net leverage ratio; and (iii) in the case of sterling denominated loans, the Sterling Over Night Indexed Average, plus a margin ranging from 112.5 bps to 175 bps per annum, based upon the Company’s total net leverage ratio. Unutilized commitments under the Credit Agreement will accrue an unused line fee ranging from 12.5 bps to 20 bps per annum, based upon the Company’s total net leverage ratio, to be paid quarterly in arrears.

The Company will have the right, but not the obligation, to prepay the Revolving Credit Facility in whole or in part and/or terminate the Revolving Credit Facility without premium or penalty on or prior to the Maturity Date.

The Credit Agreement includes customary representations, warranties and covenants, including, among other things, restrictions on the Company’s and certain of its subsidiaries’ ability to incur additional indebtedness, dispose of its assets, incur liens, make investments, and pay dividends or other distributions, in each case subject to specified exceptions. The Credit Agreement also contains customary indemnification obligations and customary events of default, including, but not limited to, failure to timely make payments when due under the Credit Agreement, failure to comply with any of the covenants under the Credit Agreement or any other loan document, the occurrence of certain insolvency or bankruptcy-related events, cross-default to certain other material indebtedness and the occurrence of a "change of control" (as defined in the Credit Agreement).

During the occurrence and continuance of an event of default by the Company under the Credit Agreement, the Lenders would be entitled to exercise their remedies thereunder, including termination of the commitment of each Lender to make loans and any obligation of the issuer of letters of credit under the Revolving Credit Facility to make credit extensions, and the right to accelerate any outstanding obligations under the Credit Agreement.

A copy of the Credit Agreement is filed as Exhibit 10.1 hereto.