On March 27, 2019 IMMUNOPRECISE ANTIBODIES LTD. (the "Company" or "ImmunoPrecise") (TSX VENTURE: IPA) (OTC PINK: IPATF) reported its financial results for Q3 ended January 31, 2019 (Press release, ModiQuest Therapeutics, MAR 27, 2019, View Source [SID1234534957]). The financial statements and related management’s discussion and analysis ("MD&A") can be viewed on SEDAR at www.sedar.com.

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Financial Highlights:

Revenue. During the three months ended January 31, 2019, the Company increased revenues to $2,695,583 from $1,723,308 in 2018. This represents a 56% increase in revenue and stems from the acquisitions of U-Protein and ModiQuest, the Company’s ability to grow its core business and expand its market share in Europe, and an increase in projects for the B-cell lab.
Gross Margin. During the three months ended January 31, 2019, the Company increased its gross margin to $1,568,055 from $989,203 in 2018. In percentage terms, the Company’s gross margin increased to 58% from 57% in 2018. The higher gross margin in 2019 was mostly attributable to the fact that the Company focused on higher margin projects at its new B-cell lab and introduced additional efficiencies into its operations. The Company anticipates that gross margin on a percentage basis will continue to be over 50% for the balance of fiscal 2019.
Net Loss. The Company recorded a net loss of $1,187,056 during the three months ended January 31, 2019, which is consistent with the net loss of $1,211,591 for three months ended January 31, 2018. $577,720 of the costs incurred during the three months ended January 31, 2019 were one-time costs which are not expected to be incurred again. These one-time costs included costs incurred to improve operational efficiency across all the divisions, to integrate U-Protein and ModiQuest into IPA’s global network, and to continue to establish a global structure for reporting and oversight. In the current period the Company also made investments that would enable its future growth, such as new management hires, more training programs, and additional space
Adjusted EBITDA. For the three and nine months ended January 31, 2019, excluding the one-time costs of $577,720 and $1,251,613, respectively, EBITDA would have been $116,367 and ($301,477), respectively.

Corporate:

On August 20, 2018, the Company announced that Mr. Guy Champagne resigned from his position as a Director of the Company, and joined the Company’s Advisory Board.

On November 21, 2018, the Company announced that Paul Andreola was appointed as a Director of the Company at its annual general meeting ("AGM") held in Vancouver, BC on November 20, 2018. Mr. Andreola has over 20 years of business development and financial markets experience including senior management, marketing, and communications roles for early stage companies. Previously in his career, Mr. Andreola was a licensed investment advisor for over 10 years and has facilitated multiple early stage private and public companies in the resource and technology sectors. Mr. Andreola is currently the CEO and Director of NameSilo Technologies Corp. (CSE: URL) and Ironwood Capital Corp. (TSXV: IRN.P).

On March 27, 2019 Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on using the body’s immune system to fight cancer, reported that it will participate in a panel presentation discussing the latest science in immunotherapy at a two day symposium titled, "Frontiers in Cancer Immunotherapy," hosted by the New York Academy of Sciences on May 14–15, 2019 (Press release, Anixa Biosciences, MAR 27, 2019, View Source [SID1234534661]).

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The panel presentation, "Will CAR-T cell Therapies, Bispecific Antibodies or TILs be more Beneficial for Solid Tumors?" will focus on a discussion about immunotherapy’s potential for addressing solid tumors. Additional panel participants include Renier Brentjens, MD, PhD, Memorial Sloan Kettering Cancer Center, and Maria Fardis, PhD, MBA, Iovance Biotherapeutics. Other speakers at the conference include James Allison, PhD, MD Anderson Cancer Center, Philip Greenburg, MD, Fred Hutchison Cancer Center and Lisa Butterfield, PhD, The Parker Institute for Cancer Immunotherapy.

Dr. Sara Donnelly, Program Manager at the Academy and conference organizer said, "Immuno-oncology promises a revolution in the way we treat cancer. This two-day symposium will convene leading experts in cancer immunotherapy to discuss cutting-edge findings in the broad area of combination therapies, including checkpoint inhibitors and cellular therapies." More information about the meeting, other participants, and registration can be found at: View Source

On March 27, 2019 Bio-Thera Solutions, a clinical-stage biopharmaceutical company developing a pipeline of innovative oncology therapies and a pipeline of biosimilars, reported the company will present two posters at the 2019 American Association for Cancer Research (AACR) (Free AACR Whitepaper) ("AACR") Annual Meeting taking place March 29 – April 3, 2018 in Atlanta, Georgia (Press release, BioThera Solutions, MAR 27, 2019, View Source [SID1234534678]).

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The first poster, entitled "BAT8001, a potent anti-HER2 antibody drug conjugate with a novel uncleavable linker to reduce toxicity for patients with HER2-positive tumor," will highlight Phase I clinical data demonstrating the safety and efficacy of BAT8001 in HER2-positive cancer patients. An abstract of the presentation will be available on AACR (Free AACR Whitepaper) website on the day of the presentation.

Presentation details are as follows:

Session Category: Clinical Trials
Session Title: Phase I Clinical Trials: Part 2
Session Date and Time: Monday, April 1, 2019, 8:00 AM – 12:00 PM
Location: Georgia World Congress Center, Exhibit Hall B, Poster Section 17
Poster Board Number:
Abstract Number:

10
CT053

The second poster, entitled "Development of a potent Trop-2 antibody-drug conjugate, BAT8003, for the treatment of Trop-2 positive gastric tumors," will present preclinical data that highlight advantages of BAT8003 as a potential treatment for gastric cancer patients. The IND for a Phase I clinical trial evaluating the safety and pharmacokinetics of BAT8003 was approved earlier this year by the China NMPA. Dosing of the first patient in this Phase I clinical trial is expected to occur during April 2019. An abstract of the presentation is currently available on AACR (Free AACR Whitepaper) website.

Presentation details are as follows:

Session Category: Experimental and Molecular Therapeutics
Session Title: Targeted Therapies
Session Date and Time: Wednesday Apr 3, 2019 8:00 AM – 12:00 PM
Location: Georgia World Congress Center, Exhibit Hall B, Poster Section 14
Poster Board Number:

9

Abstract Number:

4821

Copies of both posters will be made available on the Company’s website after they are presented.

About BAT8001

BAT8001 is an investigational HER2-ADC being evaluated in multiple tumor types. HER2 is a naturally occurring receptor that is overexpressed in many types of cancer, including breast cancer and gastric cancer. BAT8001 is being developed for use as a single agent and in combination with other agents for the treatment of multiple cancers. BAT8001 is currently being evaluated as a single agent in a Phase III metastatic breast cancer trial and in combination with an anti-PD1 antibody in gastric cancer. Both clinical studies are being run in China.

About BAT8003

BAT8003 is an investigational Trop2-ADC being evaluated in multiple tumor types. Trop-2 is a naturally occurring receptor that is overexpressed in many types of cancer, including triple negative breast cancer and gastric cancer. BAT8003 utilizes Bio-Thera Solutions’ proprietary linker-payload combination, Batansine. The antibody component of BAT8003 is engineered for site-specific conjugation to allow for better control of the ADC DAR, providing a more homogenous product. The linker is non-cleavable ensuring superior delivery of the payload to the cancer cells and improving the safety profile of the ADC. BAT8003 is being developed for use as a single agent and in combination with other agents for the treatment of Trop2 positive cancers. A Phase I clinical trial evaluating the pharmacodynamics and safety of BAT8003 will begin dosing patients during April 2019.

On March 27, 2019 ENTEROME SA, a clinical-stage biopharmaceutical company leveraging its unique knowledge of the key functional and molecular interactions between the gut microbiome and the human body to develop targeted therapeutics, reported it will present data on its innovative microbiome-based approach for the development of therapeutic peptide cancer vaccines for the first time in a poster at the American Association of Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2019 in Atlanta, GA, USA (March 29 to April 3) (Press release, Enterome, MAR 27, 2019, View Source [SID1234534662]).

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Enterome’s innovative approach is based on the concept of "molecular mimicry" whereby microbiome-derived bacterial antigens show molecular similarity with Tumor-associated Antigens (TAAs) and Tumor-specific Neoantigens (TSNAs). Based on this similarity, bacterial antigens ("onco-mimics") mimic key tumor antigens that are highly expressed by tumors to trigger tumor-specific cytotoxic T cell immune responses.

Enterome has developed a proprietary discovery platform to identify such bacterial onco-mimics from the human gut microbiome. The data to be presented at AACR (Free AACR Whitepaper) 2019 demonstrate that onco-mimics identified by Enterome elicited strong immune responses against self-peptides that were, by themselves, not immunogenic. While mice vaccinated with TAAs did not generate an immune response, vaccination with onco-mimics were observed to result in a strong immune response against both bacterial peptides and selected TAAs. Furthermore, adoptive transfer of T cells from mice immunized with onco-mimics into tumor-engrafted nude mice led to tumor control in the presence of checkpoint inhibitors.

Dr. Christophe Bonny, CSO of Enterome, commented: "We are very excited by these data that we believe represent an early validation of our innovative approach to cancer immunotherapy. It is now well recognized that the gut microbiome plays an important role in driving the development of T cells and the presence of commensal-specific memory T-cells. We believe our approach, based on bacterial molecular mimicry, has the potential to open up opportunities to develop new targeted therapies against tumor cells that are not detected as non-self by the immune system."

Enterome’s first product candidate developed using its molecular mimicry approach, EO2401, comprises three onco-mimics that are highly homologous to solid tumor antigens. Enterome expects to initiate a Phase 1b/2a clinical trial of EO2401 in 2019 as a potential new immunotherapy for glioblastoma multiforme (GBM), for which no curative treatments exist.

The presentation details are:

Poster title: Microbiome derived peptides stimulate strong immune response against tumor associated antigens and trigger in vivo tumor regression after vaccination
Session Title: Cancer Vaccines and Intratumoral Immunomodulation
Abstract ID#: 1475 (poster board 30)
Poster presentation: April 1, 8 am – 12 pm EST, Georgia World Congress Center, Exhibit Hall B, Poster Section 22

On March 27, 2019 Trillium Therapeutics Inc. (Nasdaq/TSX: TRIL), a clinical-stage immuno-oncology company developing innovative therapies for the treatment of cancer, reported it will be presenting preclinical data from its previously undisclosed STING agonist program at the Annual Meeting of the American Association for Cancer Research (AACR) (Free AACR Whitepaper) (Press release, Trillium Therapeutics, MAR 27, 2019, View Source [SID1234534705]). The meeting will be held March 29 – April 3 in Atlanta, GA. Details of the poster presentation are listed below.

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Title: "Preclinical characterization of a novel non-cyclic dinucleotide small molecule STING agonist with potent antitumor activity in mice"

Presenter: Zezhou Wang, Ph.D., Trillium Therapeutics Inc.

Date and Time: April 2, 2019 from 1:00 p.m. – 5:00 p.m. ET

Location: Georgia World Conference Center, Poster Section 12

Abstract Number: 3854