Allink Biotherapeutics Raises $42M Series A Financing to Accelerate Global Development of Bispecific Antibody and ADC Pipeline

On November 28, 2024 Allink Biotherapeutics, a clinical-stage biotechnology company pioneering next-generation bispecific antibody and antibody-drug conjugate (ADC) therapeutics, reported the successful completion of a $42 million Series A financing (Press release, Shanghai Allink Biotherapeutics, NOV 28, 2024, View Source [SID1234648697]). The financing round was led by Lanchi Ventures, a preeminent global early-stage technology investor known for backing breakthrough innovations, with participation from an elite syndicate of new investors including Yuanbio Venture Capital, Legend Capital and C&D Emerging Industry Equity Investment, alongside strong support from existing shareholders Gaorong Ventures and Med-Fine Capital.

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"Since our company’s inception a little over a year ago, AllinkBio has rapidly advanced from lead asset PCC to clinical development stage," said Hui Feng, Ph.D., Founder and Chief Executive Officer of AllinkBio. "We are grateful for the continued support from existing shareholders and delighted to welcome new investors who recognize both our scientific excellence and capability of translating scientific findings into clinical applications. Their support enables us to accelerate the development of our diverse pipeline spanning multiple modalities including next-generation ADCs and bispecific antibodies targeting oncology and immunology diseases. Looking ahead, we are poised to achieve multiple pipeline milestones in the coming months as we pursue our long-term mission of bringing innovative therapeutics to patients with significant unmet medical needs."

"AllinkBio’s exceptional execution speed and quality in advancing its lead program from preclinical to clinical stage, led by Dr. Feng, one of the leading figures in China’s biopharmaceutical industry, demonstrates the company’s high competitiveness in the field," said Lanchi Ventures. "AllinkBio’s innovative approach to ADC development presents a compelling opportunity in the targeted oncology therapeutics space."

"Our continued investment in AllinkBio reflects our strong conviction in the company’s scientific excellence and execution capabilities," said Jiangtao Yu, Ph.D., Managing Director at Gaorong Ventures. "Since our initial investment, we have been impressed by the company’s rapid advancement in both platform development and pipeline progression. We are excited to strengthen our commitment through this Series A financing."

"We are delighted to have witnessed the fast and steady development of AllinkBio. Dr. Feng and his team’s dedicated work in progressing two highly promising ADC drug candidates into clinical stage within one and half years since company inception has been really impressive. We believe the company has great potential and will continuously support its endeavor in developing innovative drugs for patients in need globally." said Angel Round lead investor Vince Deng, Ph.D., Partner of Med-Fine Capital.

The Series A financing proceeds will be deployed to advance:

Global clinical development of lead candidates ALK201 and ALK202 through Phase 1 studies in Australia, the United States and China
Enrichment of current portfolio by developing multiple highly competitive new assets in oncology and immunology
Further development of the company’s proprietary bispecific antibody and ADC technology platform
Global footprint expansion to achieve world prominence
The successful completion of this round of financing marks a pivotal moment in AllinkBio’s growth trajectory. With the new financial resources in place, combined with the company’s efficient R&D capabilities, AllinkBio is well-positioned for expedited growth toward new heights on both its product and corporate development fronts.

Akeso to Present at Citi 2024 Global Healthcare Conference and the 7th Annual Evercore HealthCONx Conference

On November 28, 2024 Akeso, Inc. (9926.HK) ("Akeso" or the "Company") reported its participation in the upcoming 7th Annual Evercore HealthCONx Conference and Citi 2024 Global Healthcare Conference, both taking place in Miami (Press release, Akeso Biopharma, NOV 28, 2024, https://www.prnewswire.com/news-releases/akeso-to-present-at-citi-2024-global-healthcare-conference-and-the-7th-annual-evercore-healthconx-conference-302318502.html [SID1234648696]).

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Akeso will participate in a fireside chat at the 7th Annual Evercore HealthCONx Conference on Wednesday, December 4, 2024, at 8:45 AM ET. Akeso will also join a fireside chat at the Citi 2024 Global Healthcare Conference on Thursday, December 5, 2024, from 8:45 AM to 9:25 AM ET.

Live streams of Akeso’s presentations at the 7th Annual Evercore HealthCONx Conference will be available at:View Source

Last patient assessment completed for diagnostic SARTATE trial in NETs

On November 28, 2024 Clarity Pharmaceuticals (ASX: CU6) ("Clarity"), a clinical stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, reported that the last patient has completed their final assessment in the Phase II diagnostic 64Cu-SARTATE trial, DISCO (NCT04438304)1, for patients with known or suspected neuroendocrine tumours (NETs) (Press release, Clarity Pharmaceuticals, NOV 28, 2024, View Source [SID1234648694]).

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DISCO, which derives from "Diagnostic Imaging Study of 64COpper-SARTATE Using PET on Patients with Known or Suspected Neuroendocrine Tumours", is assessing the performance of Clarity’s SARTATE imaging product as a potential new method to diagnose and manage NETs. The DISCO trial recruited participants with Gastroenteropancreatic NETs (GEP-NETs) across four sites in Australia, comparing the diagnostic performance of 64Cu-SARTATE at approximately 4 hrs and 20 hrs post-administration to 68Ga-DOTATATE at one hour.

The trial was originally planned for up to 63 patients based on an expected discordance level between imaging with Clarity’s 64Cu-SARTATE and the current standard of care, 68Ga-DOTATATE. The sample size was adjusted to 45 patients based on the results of the pre-planned early assessment of the images collected during the trial with the aim of generating sufficient evidence to plan for a Phase III trial in this indication. This enabled recruitment to successfully close early.

The trial aims to build on earlier work with SARTATE in patients with NETs, which demonstrated that imaging at later time points, enabled by the longer half-life of copper-64 in comparison to gallium-68, may lead to better identification of disease2. Delayed imaging (at 4 hrs and 24 hrs vs 1 hr) showed a progressive increase in lesion-to-liver ratio (Table 1). Figure 1 provides an example of improved lesion detection based on an increase in lesion-to-background ratio observed with delayed imaging2.

Clarity’s Executive Chairperson, Dr Alan Taylor, commented, "With the recent changes to the U.S. Centers for Medicare and Medicaid Services (CMS) and reimbursement of radio-diagnostics, this market is set to surge. The market opportunity for each radiodiagnostic is now massive, but there are limitations to the current range of products, most notably, the use of short half-life isotopes and short shelf-life products.

"Imaging at a one-hour time point due to the isotope half-life or product shelf-life, as opposed to patient needs, significantly impacts patient care. Firstly, the scheduling of patients may represent a challenge due to the lack of flexibility for imaging. But importantly, later time-point imaging presents significant benefits for doing what cancer diagnostics need to do, and that is finding cancer. At Clarity, we have known this for many years and have demonstrated these benefits time and time again with different products in our Targeted Copper Theranostic (TCT) platform, including SARTATE. We have seen first-hand in clinical trials that once these radiopharmaceutical products are administered, they take time to find the lesion whilst also needing to clear from background organs, providing greater contrast, especially to identify more difficult to find cancers. This is known as signal-to-noise ratio or, in our case, tumour-to-background ratio. We have also seen to date that these physiological characteristics of radiopharmaceutical products in finding the tumour and clearing the background are not overcome with the small number of state-of-the-art whole body positron emission tomography (PET) imaging cameras, despite their increases in sensitivity.

"Copper-64 has comparably low radiation doses to currently used isotopes and involves similar management of patients. However, the longer half-life of copper-64 of 12.7 hours, combined with Clarity’s proprietary position in copper-based theranostics, now sets up a foundation for a complete suite of next-generation radiodiagnostics, which could be unmatched in the radiopharmaceutical sector. The opportunity for centralised, multi-layer manufacturing and broad distribution means that every patient with access to PET imaging can potentially have optimal cancer diagnostic care, not limited by isotope half-life.

"We have adopted a dual strategy to date with the SARTATE product. Our initial focus is on the theranostic development of 64/67Cu-SARTATE for neuroblastoma in children with the CL04 trial currently ongoing (NCT04023331)3. Clarity secured two Rare Pediatric Disease Designations (RPDD) and two Orphan Drug Designations (ODD) in this indication. Should Clarity be successful in achieving marketing approval from the U.S. Food and Drug Administration (FDA) for these two products in neuroblastoma, RPDDs may allow the Company to access a total of two tradeable Priority Review Vouchers (PRVs) currently valued at around US$158 million each4. Our second strategy is the diagnostic development of 64Cu-SARTATE in a larger market of NETs and other diseases that express the somatostatin receptor 2 (SSTR2) target, followed by therapy in these same indications. We expect the final results from the DISCO study to be available in the first half of 2025, which will inform the design of our registrational Phase III trial in this indication.

"Patients with NETs are often misdiagnosed and experience delays in receiving the correct diagnosis, which leads to disease progression and identifying the cancer at its later stages. We believe that SARTATE has the potential to become a best-in-class product in this indication, and other indications that have the same target receptor, SSTR2, playing an important role in improving accurate staging, lesion identification and treatment outcomes for these patients. The market for these diagnostics in the United States alone is currently in the hundreds of millions of dollars with products that were commercialised prior to the CMS changes. Our team has been focusing on significantly increasing our diagnostic platform to benefit from our proprietary position and the change in market dynamics for radiodiagnostics brought by the CMS. We think that the advantages of copper-64 based on the potential of a flexible dosing schedule, later time-point imaging and logistical benefits of Clarity’s copper-based products could ensure timely diagnosis and enable broader access to critical imaging products for cancer patients around the world."

About SARTATE
SARTATE is a next generation, highly targeted theranostic radiopharmaceutical. It is being developed for diagnosing, staging and subsequently treating cancers that express somatostatin receptor 2 (SSTR2), including neuroblastoma and neuroendocrine tumours (NETs). Like all Clarity products, the SARTATE product can be used with copper-64 (64Cu) for imaging (64Cu-SARTATE) or copper-67 (67Cu) for therapy (67Cu-SARTATE).

64Cu-SARTATE and 67Cu-SARTATE are unregistered products. Their safety and efficacy have not been assessed by health authorities such as the US Food and Drug Administration (FDA) or the Therapeutic Goods Administration (TGA). Individual results may not represent the overall safety and efficacy profiles of the products. There is no guarantee that these products will become commercially available.

About NETs
NETs, also known as well-differentiated neuroendocrine neoplasms or carcinoids, represent a heterogeneous group of malignant transformations of cells of the diffuse neuroendocrine system5. They most commonly occur in the gastrointestinal tract (48%), lung (25%), and pancreas (9%), but may also originate in other areas, including the breast, prostate, thymus and skin6. NETs can either be benign or malignant, as well as non-functional and functional7. NETs traditionally have been considered uncommon; however, the incidence has been increasing as a worldwide phenomenon8.

Overall, it is estimated that more than 12,000 people in the United States are diagnosed with a NET each year, and approximately 170,000 people are living with this diagnosis9. Patients with NETs present with subtle clinical symptoms, which can lead to a delay in diagnosis of more than 4 years10. As such, about 30-75% of NET patients have distant metastases at the time of diagnosis11. A 10-year relative survival rate for patients with metastatic GEP-NETs is 3–36%.

Rakovina Therapeutics Announces Private Placement Offering

On November 27, 2024 Rakovina Therapeutics Inc. (TSX-V: RKV, the "Company" or "Rakovina Therapeutics"), a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies, reported a non-brokered private placement offering (the "Offering") of up to $1.25 million (Press release, Rakovina Therapeutics, NOV 27, 2024, View Source;utm_medium=rss&utm_campaign=rakovina-therapeutics-announces-private-placement-offering [SID1234648695]).

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The Company has received initial commitments totaling over $800,000 from strategic investors in connection with the Offering.

The Offering is structured as units priced at $0.06 each, with each unit consisting of one common share and one warrant to purchase a common share. Each warrant entitles the holder to purchase one additional common share at a price of $0.10 per share, exercisable for a period of 24 months. Rakovina retains the right to accelerate the warrant exercise period if the 20-day volume-weighted average price of its shares exceeds $0.30.

The Company plans to use the proceeds to continue the discovery and advancement of novel cancer treatments by leveraging collaborations with two proprietary Artificial Intelligence (AI) platforms: the Deep Docking AI platform and the Variational AI Enki Platform. The Company also plans to continue the development of its kt-3000 series through collaborations and partnerships with biotech and pharma companies.

"We are deeply grateful to our investors—both long-standing and new—whose confidence reinforces the promise of our development efforts," said Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. "Our recent data demonstrates that the Deep Docking AI platform has delivered on its objective, generating a focused shortlist of potential best-in-class PARP-1 inhibitor candidates capable of crossing the blood-brain barrier. The next critical step is validating these promising candidates using our wet-lab infrastructure at the University of British Columbia while advancing work on our next target. This financing provides the additional resources necessary to achieve these goals."

The Units will be sold on a non-brokered "private placement" basis by qualified finders in accordance with applicable Canadian securities laws and under applicable exemptions from prospectus and registration requirements, and the securities will be subject to resale restrictions for a period of four months plus one day from the date of issue.

Novocure to Participate in Upcoming Investor Conferences

On November 27, 2024 Novocure (NASDAQ: NVCR) reported that management will participate in two upcoming investor conferences (Press release, NovoCure, NOV 27, 2024, View Source [SID1234648693]):

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Evercore ISI HealthCONx Conference on Wednesday, December 4, 2024, in Coral Gables, Florida. William Doyle, Executive Chairman, will take part in a fireside chat at 2:10 p.m. ET.
Piper Sandler Healthcare Conference on Thursday, December 5, 2024, in New York City. Mr. Doyle will take part in a fireside chat at 12:00 p.m. ET.
Live audio webcasts of each presentation can be accessed from the Investor Relations page of Novocure’s website, www.novocure.com/investor-relations, and will be available for replay for at least 14 days following the event.