On December 4, 2024 BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) reported that the compensation committee of BioCryst’s board of directors granted five newly-hired employees stock options to purchase an aggregate of 17,400 shares, and restricted stock units (RSUs) covering an aggregate of 12,150 shares, of BioCryst common stock (Press release, BioCryst Pharmaceuticals, DEC 4, 2024, View Source [SID1234648785]). The options and RSUs were granted as of November 29, 2024, as inducements material to each employee entering into employment with BioCryst. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

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The options have an exercise price of $7.50 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options and RSUs vest in four equal annual installments beginning on the one-year anniversary of the grant date, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options and RSUs are subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement or restricted stock unit agreement, as applicable, covering the grant.

On December 4, 2024 Alligator Bioscience (Nasdaq Stockholm: ATORX) reported that the Company was notified that the first patient has been dosed in a Phase 3 clinical trial with Shanghai Henlius Biotech, Inc. Alligator out-licensed HLX22/AC101 to AbClon, Inc. in October 2016 (Press release, Alligator Bioscience, DEC 4, 2024, View Source [SID1234648783]). Abclon, Inc. subsequently sub-licensed AC101 for clinical development by Shanghai Henlius Biotech Inc.

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"We are pleased to announce that Henlius Biotech has dosed the first patient in its Phase 3 international multi-centre clinical trial of HLX22/AC101, aiming to provide a new first-line treatment for HER2-positive advanced gastric/gastroesophageal junction cancer. This progress demonstrates Henlius’ commitment to the HLX22/AC101 program. Also, this bodes well for Henlius’ completion of the ongoing Phase 2 trial, which will trigger a milestone payment to Alligator," said Søren Bregenholt, CEO of Alligator Bioscience.

On December 3, 2024 Plus Therapeutics, Inc. (Nasdaq: PSTV), a clinical-stage pharmaceutical company focused on developing innovative radiotherapeutics, reported the renewal of its Master Services Agreement (MSA) with Telix IsoTherapeutics Group Inc. (‘IsoTherapeutics’, a Telix Group company) (Press release, Plus Therapeutics, DEC 3, 2024, View Source [SID1234648800]). This MSA secures a reliable supply of cGMP Re-186, the radioisotope used in Plus Therapeutics’ lead radiotherapeutic candidate Rhenium (186Re) Obisbemeda.

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"This continuing agreement with Telix IsoTherapeutics Group builds on our recently announced partnership with SpectronRx and reflects our comprehensive supply chain strategy," said Marc H. Hedrick, M.D., Plus Therapeutics’ President and Chief Executive Officer. "By securing supply of Re-186 through IsoTherapeutics and leveraging SpectronRx for final drug manufacturing of Rhenium (186Re) Obisbemeda, we are establishing a scalable, end-to-end supply chain that positions us to meet the demands of late-stage clinical trials and future commercial needs."

Key highlights of the agreement:

Focus on the production of key radionuclide intermediate aluminum perrhenate and the final processing of cGMP Re-186
Enables expanded, scalable, just-in-time manufacturing to support overall supply chain
About Rhenium (186Re) Obisbemeda

Rhenium (186Re) Obisbemeda is a novel injectable radiotherapy specifically formulated to deliver direct targeted high-dose radiation in CNS tumors in a safe, effective, and convenient manner to optimize patient outcomes. Rhenium (186Re) Obisbemeda has the potential to reduce off-target risks and improve outcomes for CNS cancer patients, versus currently approved therapies, with a more targeted and potent radiation dose. Rhenium-186 is an ideal radioisotope for CNS therapeutic applications due to its short half-life, beta energy for destroying cancerous tissue, and gamma energy for real-time imaging. Rhenium (186Re) Obisbemeda is being evaluated for the treatment of recurrent glioblastoma and leptomeningeal metastases in the ReSPECT-GBM and ReSPECT-LM clinical trials. ReSPECT-GBM is supported by an award from the National Cancer Institute (NCI), part of the U.S. National Institutes of Health (NIH), and ReSPECT-LM is funded by a three-year $17.6M grant by the Cancer Prevention & Research Institute of Texas (CPRIT).

On December 3, 2024 TRIO Pharmaceuticals, Inc., a biotechnology company pioneering bispecific antibodies for the treatment of cancer with unprecedented potency and selectivity, reported the successful completion of a $3.1 million financing round (Press release, Trio Pharmaceuticals, DEC 3, 2024, View Source [SID1234648780]). TRIO’s pre-Series A financing was led by San Diego based Friedman Bioventure Fund (FBVF). "The TRIO team has demonstrated impressive bioactivity for both their TRAILBody and TIE-ADC bispecific antibody architectures, and we believe these potential medicines warrant accelerated development," said Dr. Jeff Friedman of FBVF.

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Additional significant support came from the Multiple Myeloma Research Foundation (MMRF), through its venture philanthropy arm, the Myeloma Investment Fund (MIF), underscoring the potential of TRIO’s work to impact cancers with high unmet needs. Further investors included NuFund Venture Group, Life Science Angels and others.

Friedman Bioventure brings expertise in supporting innovative biotech startups, aiming to accelerate breakthrough therapies to market. The Myeloma Investment Fund focuses on advancing treatments for cancers affecting blood and bone marrow, notably multiple myeloma. The Multiple Myeloma Research Foundation (MMRF) is the largest nonprofit in the world solely focused on accelerating a cure for each and every multiple myeloma patient. MMRF has raised over $600 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market.

"TRIO’s innovative approach aligns with our mission to drive breakthrough treatments for the myeloma community," said Dr. Stephanie Oestreich, Managing Director, Myeloma Investment Fund. "This investment underscores our commitment to accelerating therapeutic options for myeloma patients."

TRIO Pharmaceuticals’ proprietary platforms, TRAILBody and TIE-ADC, are advancing next-generation immunotherapies for cancers with high mortality rates, such as Multiple Myeloma, Acute Myeloid Leukemia, ovarian, endometrial, and triple-negative breast cancers. These therapies combine targeted tumor growth inhibition with immune system modulation to offer potent, less toxic options compared to conventional treatments.

"This financing round empowers us to expand our preclinical activities and advance our programs towards clinical development," said Dr. Reiner Laus, CEO of TRIO Pharmaceuticals. "The support from organizations like Friedman Bioventure and the Myeloma Investment Fund is invaluable as we work to bring our transformative therapies closer to patients in need."

TRIO Pharmaceuticals is dedicated to reimagining cancer care through the application of novel antibody therapeutics. This funding will accelerate TRIO’s journey towards clinical trials, offering new hope for patients facing cancers that resist standard therapies.

On December 3, 2024 Lantern Pharma Inc. (NASDAQ: LTRN), an artificial intelligence (AI) company dedicated to developing cancer therapies and transforming the cost, pace, and timeline of oncology drug discovery and development, reported that the FDA has granted Fast Track Designation for investigational drug candidate, LP-184, for treatment of Triple Negative Breast Cancer (TNBC) (Press release, Lantern Pharma, DEC 3, 2024, View Source [SID1234648779]). This marks the second Fast Track Designation received for LP-184 in 2024, following its designation for Glioblastoma in October.

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LP-184 is currently in a Phase 1A clinical trial designed to evaluate the safety and tolerability of this synthetically lethal investigational drug candidate in a broad range of solid tumors, including TNBC. LP-184 was optimized and advanced in part with Lantern’s AI platform, RADR, which helped validate mechanisms that could be exploited in the clinical setting to eradicate challenging cancers and uncover insights in targeted patient populations.

"Receiving a second FDA Fast Track Designation for LP-184 reinforces the significant potential of this drug candidate to address critical unmet needs in aggressive cancers, especially those like TNBC where patients have limited therapeutics options," stated Panna Sharma, President and CEO of Lantern Pharma. "Recent data presented at the Immuno-Oncology Summit demonstrated LP-184’s ability to sensitize TNBC tumors that are non-responsive to checkpoint inhibitors, potentially expanding treatment options for patients with limited therapeutic choices."

About TNBC and the Need for Novel Therapies

TNBC represents approximately 20% of all breast cancers, affecting nearly 29,000 patients annually in the US. The prognosis for TNBC patients is considerably worse than hormone receptor-positive breast cancers, with over 50% of patients relapsing in the first 3-5 years and metastatic TNBC patients having a median overall survival of less than one year. Currently available treatment options are limited, particularly for patients who develop resistance to existing therapies.

Compelling Preclinical Data Demonstrates LP-184’s Potential in TNBC

The graph above demonstrates LP-184’s remarkable anti-tumor activity across a panel of 10 TNBC patient-derived xenograft (PDX) models. Notably, LP-184 showed consistent efficacy in both PARPi (PARP inhibitor) resistant and PARPi sensitive tumors, with treatment resulting in complete tumor regression (107-141% tumor growth inhibition) across all models tested. This data is particularly significant as it suggests LP-184’s potential as a novel therapeutic option for TNBC patients, including those who have developed resistance to existing PARP inhibitor treatments – a growing clinical challenge in TNBC therapy. This TNBC data was initially presented at the San Antonio Breast Cancer Symposium in 2022.

LP-184’s unique mechanism of action is driven by the enzymatic activation of the drug by Prostaglandin Reductase 1 (PTGR1), which converts LP-184 into its highly potent cytotoxic form specifically within cancer cells. RADR platform analysis and subsequent in-vivo validation studies have shown that PTGR1 is frequently elevated in TNBC tumors compared to normal tissue, making these cancers particularly susceptible to LP-184 treatment. This biomarker-driven approach allows for the potential identification of patients most likely to respond to LP-184 therapy, aligning with current and emerging precision medicine approaches in TNBC treatment.

About LP-184

LP-184 is a small molecule drug candidate and next-generation acylfulvene that preferentially damages DNA in cancer cells that overexpress specific biomarkers or harbor mutations in DNA damage repair pathways. LP-184 was developed using Lantern’s proprietary RADR AI platform to identify patient populations and cancer subtypes that have the potential to respond to treatment. The compound is being evaluated in multiple solid tumors where it has shown nanomolar potency and activity in drug-resistant cancers. LP-184 has received Orphan Drug Designations from the FDA for the treatment of pancreatic cancer, glioblastoma (GBM), and ATRT, and has also been granted a Rare Pediatric Disease Designation for ATRT.