On May 21, 2018 Splash Pharmaceuticals, Inc. ("Splash"), a private biopharmaceutical company that develops novel cancer therapies, reported completion of a financing round to support the ongoing clinical trial of SPL-108 (Press release, Splash Pharmaceuticals, MAY 21, 2018, View Source [SID1234526834]). The round was oversubscribed and was led by existing investors Hamilton BioVentures ("Hamilton") and Solstice Capital. The proceeds will support Splash’s clinical trial in platinum-resistant ovarian cancer patients.

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Splash is developing a pipeline of novel therapeutics that target CD44 with the goal to achieve dramatic and durable responses in cancer patients. The first of these therapies, SPL-108, has demonstrated significant activity in animal models including ovarian, breast, endometrial, prostate, liver and brain cancers. SPL-108 has also demonstrated activity in multiple Phase I and II clinical trials in gynecological cancers with an excellent safety profile. Splash believes that combining SPL-108 with other therapies will provide even greater activity which is the basis for the current clinical trial.

"We are very pleased to close this financing round and are particularly gratified by the strong support from our existing investors who know the story best," said Dr. David Nelson, President and CEO of Splash Pharmaceuticals. "We are excited by the breadth and depth of preclinical and clinical data that we have generated in support of our latest clinical trial in ovarian cancer. SPL-108 holds great promise for many types of cancer and we look forward to testing this clinical hypothesis with our latest trial."

"Hamilton is excited to participate in this financing round," said Dr. Kerry Dance, Chairman of Hamilton BioVentures. "The unique mechanism of action of SPL-108 provides a compelling possibility of achieving durable responses, which is something that has remained elusive in many recent breakthrough cancer therapies."

On May 21, 2018 Rain Therapeutics Inc., a privately-held, clinical stage biotechnology company focused on biomarker-driven, small molecule therapeutics for patients with cancer, reported the closing of a tranched Series A financing of $18.4 million (Press release, Rain Therapeutics, MAY 21, 2018, View Source [SID1234526835]). The financing was led by San Francisco-based, Biotechnology Value Fund (BVF) and followed by Perceptive Advisors, Auckland UniServices Limited’s Inventors Fund and other private investors. BVF’s Gorjan Hrustanovic, Ph.D., will join the Rain Board of Directors in conjunction with the financing. The Series A round follows a $1 million convertible note financing completed in late-2017.

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Rain plans to use the proceeds to advance the clinical development of its lead program, Tarloxotinib (Tarlox), in patients with EGFR and ErbB Exon 20 insertion mutations in non-small cell lung cancer (NSCLC). The company intends to commence a Phase 2 study in patients with EGFR and ErbB Exon 20 insertion mutations in NSCLC in the first half of 2019.

"With the proceeds from recent financings we can complete a Phase 2, proof-of-concept study and continue to advance Tarloxotinib," said Avanish Vellanki, Rain’s co-founder and chief executive officer. "Our goal is to provide Exon 20 patients with a novel treatment option that results in strong anti-tumor responses while avoiding the debilitating, dose-limiting EGFR toxicities in the gut and skin that are associated with conventional small molecule inhibitors."

"Targeting wildtype EGFR, or wildtype EGFR-like tumors has always been very challenging with conventional small molecule inhibitors because of the abundance of EGFR in healthy tissues," said Robert Doebele, M.D., Ph.D., co-founder of Rain Therapeutics, and associate professor of medicine and director of the Thoracic Oncology Research Initiative at the University of Colorado. "Patients with Exon 20 lung cancer show an addiction to EGFR, however the resemblance of EGFR Exon 20 to EGFR wildtype suggests most conventional strategies will be limited by toxicity. With its novel mechanism of action, Tarlox has the potential to address this inherent, unmet challenge in Exon 20 patients."

Rain has worldwide development and commercialization rights for Tarlox through an exclusive license to technology developed at the University of Auckland.

On May 21, 2018 Galecto Biotech AB, the leading developer of galectin modulators for the treatment of severe diseases, including fibrosis and cancer, reported the appointment of Richard Marshall, MD, PhD, as Chief Medical Officer (Press release, Galecto Biotech, MAY 21, 2018, View Source [SID1234526811]). Dr Marshall joins Galecto with more than 15 years of experience across drug discovery, clinical development and business development in various positions at Glaxo Smithkline (GSK). Most recently, he was Vice-President and Head of the Fibrosis & Lung Injury Discovery Performance Unit. During his tenure at GSK, Dr Marshall led the early clinical development for NucalaTM, anti-IL-5 mAb in asthma and nasal polyposis. He is a visiting Professor at Newcastle University and an Honorary Consultant in Thoracic Medicine at Royal Brompton & Harefield NHS Foundation Trust. Dr Marshall earned his undergraduate, medical and doctorate degress at University College London.

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"Richard is a great addition to the Galecto management team as we move towards late-stage clinical studies with our lead program, TD139, a potent and selective inhibitor of galectin-3, in Idiopathic Pulmonary Fibrosis (IPF) and advance other candidates in fibrosis, inflammation and cancer through clinical development," said Hans Schambye, CEO of Galecto Biotech. "His career at GSK has seen him deliver on all aspects of drug discovery and development within the respiratory and fibrosis field, making him ideal to help take Galecto to the next level."

"Galecto’s unique approach to targeting galectin-3 has shown very promising results, so far, in clinical studies. This exciting mechanism has the potential to bring new medicines to patients, treating fibrosis and inflammation across a range of severe, often life threatening, diseases. I look forward to working with the superb team at Galecto to help steer the next stage of clinical development for Galecto’s portfolio of candidate drugs," said Dr Marshall.

On May 21, 2018 Athenex, Inc. (Nasdaq:ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, reported that management will present at the UBS Global Healthcare Conference in New York, NY, on Monday, May 21st, at 3:00 pm EST (Press release, Athenex, MAY 21, 2018, View Source;p=RssLanding&cat=news&id=2349986 [SID1234526816]).

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The presentation will be webcasted, and can be accessed at the Investor Relations section of the Company’s website, located at www.athenex.com. An archive will be available at this website until August 19, 2018.

On May 18, 2018 BerGenBio ASA (OSE: BGBIO) reported that the company and its collaborators will present interim clinical data from its Phase II clinical development programme with bemcentinib, a selective, oral AXL inhibitor, in acute myeloid leukaemia (AML) and myeloid dysplastic syndrome (MDS) at the 23rd Congress of the European Hematology Association (EHA) (Free EHA Whitepaper) in Stockholm (14-17 June 2018) (Press release, BerGenBio, MAY 18, 2018, View Source [SID1234526793]).

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Abstracts are now available online at View Source and details of the presentations are below. The posters presented at EHA (Free EHA Whitepaper) will be made available on www.bergenbio.com in the Investors / Presentations section following the sessions.

Presentations at EHA (Free EHA Whitepaper)
Saturday 16 June, 5:30 – 7:00 PM CEST

Ph II trial with selective oral AXL inhibitor bemcentinib (BGB324) in relapsed/refractory AML and MDS: Identification of predictive and pharmacodynamic biomarker candidates associated with pt benefit

Sonja Loges, MD, PhD et al
Session: Acute myeloid leukemia – Clinical
Poster Board: PS981
Single cell signaling pharmacodynamics and clonal evolution in a phase I/II clinical trial of selective AXL inhibitor bemcentinib (BGB324) in R/R acute myeloid leukemia and myelodysplastic syndrome

Monica Hellesøy, PhD et al
Session: Acute myeloid leukemia – Biology & Translational Research
Poster Board: PS965