FACIT portfolio company HDAX Therapeutics closes seed financing to target CNS cancers and neuropathies

On September 05, 2024 FACIT reported the company congratulates HDAX Therapeutics ("HDAX") on the closing of a seed financing round to develop their best-in-class HDAC therapeutics for the treatment of a serious cancer conditions (Press release, FACIT, SEP 5, 2024, View Source [SID1234646407]). Capital from the investor group, which included an investment from FACIT’s Compass Rose Oncology Fund, will empower HDAX to address the debilitating neuropathic pain frequently experienced by patients with cancer.

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HDAX’s successes to date exemplify the importance of FACIT’s Ontario First commercialization strategy, providing a continuum of much needed capital and additional supports to advance early-stage cancer innovations. After securing initial capital from FACIT’s Prospects Oncology Fund to support the intellectual property developed at the University of Toronto, HDAX met and surpassed key preclinical milestones while cultivating highly skilled talent and entrepreneurial skills in Ontario. Furthermore, HDAX is one of very few life science start-ups led by two women entrepreneurs, and FACIT is proud to continue its industry leadership in backing women-led companies. Congratulations to HDAX and their continued growth in Ontario!

To learn more about this exciting Ontario startup and the potential impact for patients with cancer, read the company’s news release here.

Study Confirms the Ability of Castle Biosciences’ DecisionDx®-SCC Test to Predict Likelihood of Benefit from Adjuvant Radiation Therapy in Patients with High-Risk Cutaneous Squamous Cell Carcinoma

On September 5, 2024 Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, reported the publication of a new study in Future Oncology further substantiating use of its DecisionDx-SCC test in guiding patient selection and decision-making related to the use of ART in patients with high-risk SCC based on the ability of the test to identify patients likely to benefit from treatment (Press release, Castle Biosciences, SEP 5, 2024, View Source [SID1234646391]).

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"Some patients with high-risk SCC are eligible for adjuvant radiation therapy once their primary tumor has been removed; however, determining which patients should seek treatment is complicated and involves weighing numerous pros and cons against the risk of the patient’s cancer returning," said Emily S. Ruiz, M.D., MPH, FAAD, lead author, board-certified dermatologist and Mohs micrographic surgeon at Brigham and Women’s Hospital in Boston, and Associate Professor of Dermatology at Harvard Medical School. "In this study, we were successful in validating, in an independent SCC patient cohort, that DecisionDx-SCC can objectively inform these challenging decisions by identifying patients for whom ART would be beneficial, as well as those who may be best served by avoiding it."

In the study, a novel, independent cohort of patients with high-risk SCC tumors (399 patients; 423 tumors) from two academic centers were tested using DecisionDx-SCC and analyzed for five-year metastasis-free survival and projected time to metastasis. Similar to the recent 2024 study by Arron et al., samples were controlled for bias by clinicopathologically matching ART-treated and untreated patients.1

A comparison of both studies (Arron et al. and Ruiz et al.) demonstrates very similar results:

Both studies showed that patients with DecisionDx-SCC Class 2B (highest metastatic risk) test results who were treated with ART had a 50% decrease in metastatic disease progression, on average, and a significant deceleration of disease progression compared to patients who did not receive ART.
Both studies reported no difference in disease progression rates when comparing ART-treated and untreated patients with DecisionDx-SCC Class 1 (lowest metastatic risk) test results, suggesting these patients may consider deferring treatment due to low metastatic risk and a low likelihood of benefitting from treatment. The majority of patients had Class 1 results, confirming the significance of clinical utility in ruling out ART in these patients.
Additionally, both studies observed a lack of ART-related benefit for patients with Class 2A (higher metastatic risk) test results, despite having an intermediate-level risk of metastasis compared to patients with Class 1 and Class 2B test results. This suggests that a specific pattern of gene expression captured uniquely by a DecisionDx-SCC Class 2B result may be driving the identification of the benefit from ART.
"This marks the sixth study since the start of 2024 demonstrating the value of DecisionDx-SCC test results in improving risk-aligned patient care through precise, tumor-biology-based risk stratification," said Derek Maetzold, president and chief executive officer of Castle Biosciences. "The more than 20 peer-reviewed papers published since the launch of our test four years ago speaks to the breadth of evidence supporting the test’s validity, as well as its ability to improve upon clinicopathologic-based staging systems to drive optimized decision-making regarding appropriate treatment pathways for patients with high-risk SCC."

About DecisionDx-SCC

DecisionDx-SCC is a 40-gene expression profile test that uses an individual patient’s tumor biology to stratify risk of metastasis in patients with cutaneous squamous cell carcinoma who have one or more NCCN high-risk factors. The test result, in which patients are stratified into a Class 1 (low), Class 2A (higher) or Class 2B (highest) risk category, predicts individual metastatic risk to inform risk-appropriate management and guide decision-making regarding the use of adjuvant radiation therapy. Peer-reviewed publications have demonstrated that DecisionDx-SCC is an independent predictor of metastatic risk and that the test can significantly improve risk-stratification when used with traditional staging systems and clinicopathologic risk factors to guide risk-aligned management and treatment decisions. Learn more at www.CastleBiosciences.com.

Gilead to Present New Trodelvy® Data at the IASLC 2024 World Conference on Lung Cancer

On September 5, 2024 Gilead Sciences, Inc. (Nasdaq: GILD) reported that it will present new data from the company’s broad lung cancer clinical development program during the IASLC 2024 World Conference on Lung Cancer hosted by the International Association for the Study of Lung Cancer, taking place Sept. 7-10, 2024 in San Diego, Calif (Press release, Gilead Sciences, SEP 5, 2024, View Source [SID1234646390]). Data to be highlighted across three oral presentations include: initial results from two cohorts of the EVOKE-02 study of Trodelvy (sacituzumab govitecan-hziy) in previously untreated advanced or metastatic non-small cell lung cancer (mNSCLC), results from a subgroup analysis of the EVOKE-01 study of Trodelvy in second-line mNSCLC, and updated data from the TROPiCS-03 study of Trodelvy in extensive stage small cell lung cancer (ES-SCLC).

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New Findings Further Support the Potential Efficacy of Trodelvy for mNSCLC in the First-Line Setting

Results to be presented from Cohorts C (non-squamous) and D (squamous) of the Phase 2 EVOKE-02 study of Trodelvy in previously untreated mNSCLC in combination with pembrolizumab and carboplatin demonstrate encouraging efficacy in patients with non-AGA-driven mNSCLC and across PD-L1 status. These additional findings advance our scientific understanding of the optimal treatment regimens and appropriate patient populations with mNSCLC that may potentially benefit from treatment with Trodelvy in the first-line setting.

"Our data at WCLC will add to the expanding evidence for the potential of Trodelvy in lung cancer and reinforce our confidence in our broader lung cancer strategy," said Merdad Parsey, MD, PhD, Chief Medical Officer, Gilead Sciences. "The totality of mature EVOKE-02 data suggest that in the first-line setting, Trodelvy in combination with pembrolizumab may have a greater potential to positively impact patients with mNSCLC when given without the addition of chemotherapy. These findings support the ongoing Phase 3 EVOKE-03 study and underscore our commitment to improving the standard of care for patients with lung cancer."

Analysis Shows Overall Survival (OS) Improvement with Trodelvy in a Subgroup of Second-Line mNSCLC Patients

Additionally, Gilead will present data from the EVOKE-01 study in the subgroup of patients whose tumors did not respond to their last anti-PD-(L)1-therapy, building on the primary analysis presented earlier this year. Results from a pre-specified analysis showed a numerical OS improvement vs. docetaxel in this patient population, which was observed across histologies and regardless of whether patients were stable or progressed after their last anti-PD-(L)1-containing treatment. This subgroup analysis was not alpha-controlled for formal statistical testing. These meaningful data in mNSCLC help advance our understanding of Trodelvy’s potential for patients with lung cancer.

Longer-Term Follow-up Data from the Phase 2 TROPiCS-03 ES-SCLC Cohort Demonstrate Promising Activity

Gilead will also share updated results from the global Phase 2 TROPiCS-03 ES-SCLC Cohort. These new data, with additional patients and longer-term follow-up, reinforce promising activity shown with Trodelvy treatment in patients with both platinum-resistant and platinum-sensitive disease and support further investigation of Trodelvy in ES-SCLC, where there is still significant unmet need.

Summary of Presentations

Accepted abstracts at WCLC 2024 include:

Date/Time

Abstract

September 8, 2:00 PM – 3:15 PM PT (Oral Presentation)

Abstract #OA04.04: Sacituzumab Govitecan as Second-Line Treatment in Patients with Extensive Stage Small Cell Lung Cancer

September 9, 10:45 AM – 12:00 PM PT (Oral Presentation)

Abstract #OA08.07: Sacituzumab Govitecan + Pembrolizumab + Carboplatin in 1L Metastatic Non-Small Cell Lung Cancer: The EVOKE-02 Study

September 9, 10:45 AM – 12:00 PM PT (Oral Presentation)

Abstract #OA08.06: Sacituzumab Govitecan vs. Docetaxel in Patients With mNSCLC non-Responsive to Last anti-PD-(L)1–Containing Regimen: EVOKE-01

Trodelvy has not been approved by any regulatory agency for the treatment of mNSCLC or ES-SCLC. Its safety and efficacy have not been established for this use. Trodelvy has a Boxed Warning for severe or life-threatening neutropenia and severe diarrhea; please see below for the approved U.S. Indications and Important Safety Information.

About Trodelvy

Trodelvy (sacituzumab govitecan-hziy) is a first-in-class Trop-2-directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast, bladder and lung cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the tumor microenvironment through a bystander effect.

Trodelvy is approved in almost 50 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease.

Trodelvy is also approved to treat certain patients with pre-treated HR+/HER2- metastatic breast cancer in Australia, Brazil, Canada, the European Union, Israel, United Arab Emirates and the United States. In the U.S., Trodelvy has an accelerated approval for treatment of certain patients with second-line metastatic urothelial cancer; see below for full indication statements.

Trodelvy is being explored for potential investigational use in other TNBC, HR+/HER2- and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including mNSCLC, head and neck cancer, gynecological cancer, and gastrointestinal cancers.

U.S. Indications for Trodelvy

In the United States, Trodelvy is indicated for the treatment of adult patients with:

Unresectable locally advanced or metastatic triple-negative breast cancer (mTNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease.
Unresectable locally advanced or metastatic hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative (IHC 0, IHC 1+ or IHC 2+/ISH–) breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting.
Locally advanced or metastatic urothelial cancer (mUC) who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.
U.S. Important Safety Information for Trodelvy

BOXED WARNING: NEUTROPENIA AND DIARRHEA

Severe or life-threatening neutropenia may occur. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 or neutropenic fever. Monitor blood cell counts periodically during treatment. Consider G-CSF for secondary prophylaxis. Initiate anti-infective treatment in patients with febrile neutropenia without delay.
Severe diarrhea may occur. Monitor patients with diarrhea and give fluid and electrolytes as needed. At the onset of diarrhea, evaluate for infectious causes and, if negative, promptly initiate loperamide. If severe diarrhea occurs, withhold Trodelvy until resolved to ≤Grade 1 and reduce subsequent doses.
CONTRAINDICATIONS

Severe hypersensitivity reaction to Trodelvy.
WARNINGS AND PRECAUTIONS

Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 64% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 49% of patients. Febrile neutropenia occurred in 6%. Neutropenic colitis occurred in 1.4%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever. Administer G-CSF as clinically indicated or indicated in Table 1 of USPI.

Diarrhea: Diarrhea occurred in 64% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 11% of patients. One patient had intestinal perforation following diarrhea. Diarrhea that led to dehydration and subsequent acute kidney injury occurred in 0.7% of all patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments.

Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 35% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.2%. The incidence of anaphylactic reactions was 0.2%. Pre-infusion medication is recommended. Have medications and emergency equipment to treat such reactions available for immediate use. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions.

Nausea and Vomiting: Nausea occurred in 64% of all patients treated with Trodelvy and Grade 3-4 nausea occurred in 3% of these patients. Vomiting occurred in 35% of patients and Grade 3-4 vomiting occurred in 2% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting.

Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 58% in patients homozygous for the UGT1A1*28, 49% in patients heterozygous for the UGT1A1*28 allele, and 43% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 21% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 9% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function.

Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose.

ADVERSE REACTIONS

In the pooled safety population, the most common (≥ 25%) adverse reactions including laboratory abnormalities were decreased leukocyte count (84%), decreased neutrophil count (75%), decreased hemoglobin (69%), diarrhea (64%), nausea (64%), decreased lymphocyte count (63%), fatigue (51%), alopecia (45%), constipation (37%), increased glucose (37%), decreased albumin (35%), vomiting (35%), decreased appetite (30%), decreased creatinine clearance (28%), increased alkaline phosphatase (28%), decreased magnesium (27%), decreased potassium (26%), and decreased sodium (26%).

In the ASCENT study (locally advanced or metastatic triple-negative breast cancer), the most common adverse reactions (incidence ≥25%) were fatigue, diarrhea, nausea, alopecia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes.

In the TROPiCS-02 study (locally advanced or metastatic HR-positive, HER2-negative breast cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, alopecia, and constipation. The most frequent serious adverse reactions (SAR) (>1%) were diarrhea (5%), febrile neutropenia (4%), neutropenia (3%), abdominal pain, colitis, neutropenic colitis, pneumonia, and vomiting (each 2%). SAR were reported in 28% of patients, and 6% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPiCS-02 study were reduced neutrophils and leukocytes.

In the TROPHY study (locally advanced or metastatic urothelial cancer), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, nausea, any infection, alopecia, decreased appetite, constipation, vomiting, rash, and abdominal pain. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes.

DRUG INTERACTIONS

UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy.

UGT1A1 Inducers: Exposure to SN-38 may be reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy.

Please see full Prescribing Information, including BOXED WARNING.

Abdera Therapeutics Announces FDA Orphan Drug Designation for ABD-147 for the Treatment of Neuroendocrine Carcinoma

On September 5, 2024 Abdera Therapeutics Inc., a biopharmaceutical company leveraging its advanced antibody engineering ROVEr platform to design and develop tunable, precision radiopharmaceuticals for cancer, reported that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to ABD-147 for the treatment of neuroendocrine carcinoma (Press release, Abdera Therapeutics, SEP 5, 2024, View Source [SID1234646389]). ABD-147 is a next-generation precision radiopharmaceutical biologic therapy designed to deliver Actinium-225 (225Ac) to solid tumors expressing DLL3, a protein found on the surface of neuroendocrine tumors, but rarely expressed on the surface of normal cells or tissues. In 2024, Abdera plans to initiate a first-in-human Phase 1 clinical trial with ABD-147 in patients with small cell lung cancer (SCLC) or large cell neuroendocrine carcinoma (LCNEC) who previously received platinum-based therapy.

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"Neuroendocrine carcinomas, including SCLC and LCNEC, are aggressive and challenging to treat effectively with current systemic therapies," said Philippe Bishop, M.D., chief medical officer. "By delivering a potent radioisotope to neuroendocrine tumors expressing DLL3 with custom-engineered PK properties, we believe ABD-147 has the potential to become a best-in-class DLL3-targeting treatment for aggressive neuroendocrine tumors. Along with FDA recently granting Fast Track designation to ABD-147 for the treatment of patients with extensive stage small cell lung cancer (ES-SCLC) who have progressed on or after platinum-based chemotherapy, this Orphan Drug Designation for neuroendocrine carcinoma further underscores the potential of ABD 147 development to offer a significant advantage beyond approved drugs."

The FDA’s Orphan Drug Designation program provides orphan status to drugs and biologics for rare diseases that meet certain criteria. Orphan Drug Designation provides various incentives including tax credits for qualified clinical trials, exemption from user fees, and the potential for seven years of market exclusivity after approval.

About Neuroendocrine Carcinoma

Neuroendocrine carcinoma is a type of cancer that originates from neuroendocrine cells, which have characteristics of both nerve cells and hormone-producing cells. These cancers can develop in various parts of the body, including the lungs (SCLC and LCNEC), the digestive tract, pancreas, prostate, and other endocrine glands and share similar clinical and pathologic traits characterized by higher mitotic rates with extensive necrosis, high tumor mutational burden, and neuroendocrine gene expression.

About Small Cell Lung Cancer and Large Cell Neuroendocrine Carcinoma

The global incidence for SCLC and LCNEC has been reported to represent approximately 325,000 patients and is expected to increase 4% annually through 2029. In the U.S., the incidence has been reported to be approximately 35,000 new cases annually. Fifteen percent of all lung cancer cases are high-grade neuroendocrine cancers. These cancers have the most aggressive clinical course of any type of pulmonary tumor and often metastasize to other parts of the body, including the brain, liver and bone. Without treatment, the median survival from diagnosis has been reported to be only two to four months. With treatment, the overall survival at five years is 5% to 10% for SCLC, and 15% to 25% for LCNEC. SCLC and LCNEC generally carry a poor prognosis and new treatment options are urgently needed.

About ABD-147

ABD-147 is a targeted radiopharmaceutical biologic therapy designed to deliver Actinium-225 (225Ac), a highly potent alpha-emitting radioisotope, to solid tumors expressing delta-like ligand 3 (DLL3) with high affinity. DLL3 is a protein in the Notch pathway that is critical for the development and regulation of neuroendocrine versus epithelial cell differentiation in the lungs. In certain high grade neuroendocrine carcinomas including small cell lung cancer (SCLC), DLL3 is upregulated and specifically expressed on the cell surface in more than 80% of cases. In contrast, DLL3 is absent or very rarely expressed on the surface of nonmalignant cells. Given the high specificity of DLL3 expression on cancer cells and the distinct mechanism of action, DLL3 represents a compelling target for treating SCLC and other DLL3+ solid tumors with targeted radiotherapy.

About the ROVEr Platform

Abdera’s Radio Optimized Vector Engineering (ROVEr) platform enables the company to custom-engineer targeted radiopharmaceuticals with tunable pharmacokinetic (PK) properties to achieve high tumor uptake while minimizing renal exposure and mitigating other systemic radiotoxicities such as myelosuppression. Abdera can optimize the delivery and therapeutic index of potent radioisotopes capable of emitting powerful alpha or beta particles to selectively destroy tumor cells while sparing healthy cells, providing patients with potentially transformative new cancer treatments.

Abdera’s approach offers the ability to design radiotherapeutics against virtually any cancer target expressed on the cell surface. Coupled with a highly potent mechanism of cell killing, the ROVEr platform is uniquely poised to exploit both high- and low-expressing targets to selectively deliver therapeutic levels of radioisotope to cancer cells.

HDAX Therapeutics Announces First Closing of Oversubscribed US $3.2 (CA $4.3) Million Seed Financing

On September 5, 2024 HDAX Therapeutics ("HDAX"), a biotechnology company pioneering a novel approach to targeting HDAC6 for the discovery and development of breakthrough therapeutics for high unmet medical needs, reported the first closing of an oversubscribed US$3.2 (CA$4.3) million seed round (Press release, HDAX Therapeutics, SEP 5, 2024, View Source [SID1234646388]). The financing was led by SeedFolio, FACIT, and Toronto Innovation Acceleration Partners ("TIAP"), with participation from Eos Bioinnovation ("Eos"), Ontario Centre of Innovation ("OCI"), and other investors. Proceeds from this financing will support the company’s progress towards preclinical development candidate nomination and further advancement of its pipeline programs.

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In conjunction with the financing, Brock Reeve, CEO of Eos, and Prakash Gowd, Vice President at TIAP, have joined the HDAX Board of Directors. David Koehler, FACIT and Joe Gatto, SeedFolio will join as Board Observers.

Recent advances in HDAC biology have highlighted the critical role of HDAC6 in microtubule dysfunction, validating the therapeutic potential of this target in inflammatory disease, metabolic dysfunction, and neurological disorders. The involvement of HDAC6 in multiple disease states has led to the pursuit of HDAC6-selective drugs by several companies. However, drug development efforts targeting HDAC6 have faced significant challenges, such as poor efficacy, off-target toxicities, and inadequate drug exposure. Drawing on over 7 years of research originating from the lab of renowned serial entrepreneur Professor Patrick Gunning at the University of Toronto, HDAX was purpose-built to address the challenges of developing effective drugs targeting HDAC6. Harnessing its unique molecular recognition technology, HDAX has devised a next-generation binding mechanism that has the potential to discover best-in-class HDAC6 inhibitors. HDAX’s novel mechanism addresses key drug-design challenges of weak binding, poor pharmacokinetics, and off-target toxicities, paving the way for potentially transformative therapeutic benefits for patients.

"HDAX Therapeutics is at the forefront of developing next-generation HDAC6-targeting therapeutics to improve patient outcomes. Our novel binding mechanism allows us to effectively and safely target the underlying drivers of disease, positioning us to be potentially best-in-class in the HDAC6 space," said Nabanita Nawar, co-founder and CEO of HDAX. "Securing this financing highlights our truly differentiated innovation and the broad applicability of our technology. With this capital, we are well-positioned to advance our pipeline toward development candidate nomination and ultimately deliver meaningful and safe disease-modifying therapies to patients."

"HDAX has made tremendous progress in discovering potent and selective HDAC6 inhibitors, leapfrogging other companies pursuing the target. HDAX’s molecules will not only advance our understanding of HDAC6 biology but also unlock the target’s potential in addressing a number of diseases with high unmet needs," said Roman Fleck, Executive Chairman of HDAX.

Prakash Gowd, TIAP Vice President, commented, "We are incredibly proud to have been able to support HDAX since its inception – first through our University of Toronto Early-Stage (UTEST) program, and now through this pivotal financing. It is a tremendous example of the type of highly innovative and highly promising life sciences ventures we are building in collaboration with our ecosystem partners."

"FACIT commercializes Ontario’s leading oncology ventures, and HDAX’s compelling preclinical profile and strong scientific foundation align with our goals to impact patients," said David O’Neill, FACIT President. "We look forward to working with the management team and alongside other ecosystem partners to realize the full clinical potential of HDAX’s pipeline."