On May 9, 2017 Sierra Oncology, Inc. (NASDAQ: SRRA), a clinical stage drug development company focused on advancing next generation DNA Damage Response (DDR) therapeutics for the treatment of patients with cancer, today reported its financial and operational results for the first quarter ended March 31, 2017 (Press release, Sierra Oncology, MAY 9, 2017, View Source [SID1234519049]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"During the quarter, we continued to advance our lead DDR-targeting drug candidate, SRA737, in two ongoing Phase 1 clinical trials, while concurrently proposing design amendments to these studies that we believe could augment their potential for success," said Dr. Nick Glover, President and CEO of Sierra Oncology. "As we prepare to implement these enhancements, we also remain focused on driving patient enrollment with the objective of providing an initial update from these trials in early 2018."

During the first quarter, Sierra successfully transferred sponsorship of the two ongoing Phase 1 clinical trials for its checkpoint kinase 1 (Chk1) inhibitor, SRA737, to the company. This transfer positioned Sierra to submit protocol amendments seeking to incorporate the prospective enrollment of patients with genetically-defined tumors, determined using Next-Generation Sequencing, that harbor genomic alterations hypothesized to confer sensitivity to Chk1 inhibition via synthetic lethality.

First Quarter 2017 Financial Results (all amounts reported in U.S. currency)
Research and development expenses were $8.0 million for the first quarter of 2017, compared to $6.6 million for the first quarter of 2016. The increase was primarily due to an increase in third-party manufacturing and research costs related to SRA737 and SRA141. These costs were partially offset by a decrease in clinical trial and personnel-related costs due to the discontinuation of PNT2258. Research and development expenses included non-cash stock based compensation of $1.0 million for both the first quarter of 2017 and of 2016.

General and administrative expenses were $3.1 million for the first quarter of 2017, compared to $4.0 million for the first quarter of 2016. This decrease was primarily due to a decrease in professional fees, business development expenses and personnel-related costs. General and administrative expenses included non-cash stock based compensation of $0.5 million for the first quarter 2017, compared to $0.4 million for the first quarter 2016.
Net loss was $11.1 million for the first quarter of 2017, compared with a net loss of $10.5 million for the first quarter of 2016.

Cash and cash equivalents totaled $125.0 million as of March 31, 2017, compared to $109.0 million as of December 31, 2016. This increase was due to an underwritten public offering of 21,847,636 shares of common stock in February 2017, pursuant to which the company raised net proceeds of $27.4 million, net of underwriting discounts, commissions and offering expenses. The company believes that its existing cash and cash equivalents will be sufficient to fund current operating plans through approximately mid-2019. At March 31, 2017, there were 52,268,443 shares of common stock issued and outstanding, and stock options to purchase 7,615,052 shares of common stock issued and outstanding.

Akebia has filed a 10-Q – Quarterly report [Sections 13 or 15(d)] with the U.S. Securities and Exchange Commission (Filing, 10-Q, Akebia, 2017, MAY 9, 2017, View Source [SID1234521594]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Valeant has filed a 10-Q – Quarterly report [Sections 13 or 15(d)] with the U.S. Securities and Exchange Commission .

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

On May 9, 2017 Kymab Group Limited ("Kymab"), a leading human monoclonal antibody biopharmaceutical group, reported the appointment of Dr Sonia Quaratino as its first Chief Medical Officer (Press release, Kymab, MAY 9, 2017, View Source [SID1234537009]). Dr Quaratino will manage the clinical development of the Group’s expanding therapeutic antibody portfolio.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Dr Quaratino is an immunologist and joins Kymab from Novartis, where she has served as Global Clinical Program Leader – Transitional Clinical Oncology, responsible for the clinical development of proprietary therapeutic antibody programmes in immuno-oncology.

Prior to her role with Novartis, Dr Quaratino was Senior Medical Director and Immunology Advisor at Merck Serono, where she was responsible for the clinical development of various immunomodulators. Dr Quaratino also has over 20 years of professional experience in biomedical research in UK academic institutions including Imperial College London and the University of Southampton.

"I am delighted to welcome Sonia to Kymab," says Dr David Chiswell, CEO of Kymab, on the appointment. "With her demonstrated track record in clinical development and medical affairs, Sonia is a superb addition to Kymab‘s management team as we prepare for our first clinical trials. Sonia’s deep understanding of the global environment in clinical research complement those of Dr Arndt Schottelius, our new Executive VP of R&D who recently joined us from Morphosys.

"These two key appointments add a high calibre of depth and provide further validation to our burgeoning and advancing R&D pipeline."

Dr Sonia Quaratino, newly appointed Chief Medical Officer of Kymab added: "Kymab’s emerging human antibody pipeline provides great potential to improve patient treatment options in our four main therapeutic areas of focus: immuno-oncology; auto-immunity; haematology and infectious disease. The Kymouse technology that underpins the company contains a full set of human immunoglobulin light and heavy chain genes that can produce 10 trillion different antibodies, thus significantly increasing the chances of finding new best-in-class antibodies. I am pleased and proud to be joining the Kymab team."

Dr Quaratino has an extensive professional background which includes a Medical Degree and a Doctorate in Hematology-Oncology from the University of Palermo, Italy and a Ph.D. in Immunology from Imperial College London, UK. For a number of years Sonia was a Professor of Immunology at the University of Southampton, a leading institution for innovative research. During her time in Southampton her focus was on the pathogenic mechanisms underlying chronic inflammatory diseases and the interface between autoimmunity and cancer.

Notes to Editors
Issued 9 May, 2017

Kymab
David Chiswell, Chief Executive Officer

Anne Hyland, Chief Financial Officer

Tel: +44 (0)1223 833 301

Email: [email protected]

Don Powell
Email: [email protected]

Tel: +44 (0)1223 515436

Mob: +44 (0)778 6858220

Consilium Strategic Communications
Mary-Jane Elliott/Jessica Hodgson/Suki Virji/Laura Thornton

Tel: +44 (0) 20 3709 5700

Email: [email protected]

On May 9, 2017 Takeda Pharmaceutical Company Limited (TSE: 4502) and GammaDelta Therapeutics Ltd, an Abingworth portfolio company, reported that they have formed a strategic collaboration to develop GammaDelta Therapeutics’ novel T cell platform, which is based on the unique properties of gamma delta (γδ) T cells derived from human tissue (Press release, Cancer Research Technology, MAY 9, 2017, View Source [SID1234523497]).The companies intend to use this novel platform to discover and develop new immunotherapies, with the aim of treating a broad range of cancers, including solid tumours, and autoinflammatory diseases.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"The pioneering research developed by Professor Adrian Hayday and Dr. Oliver Nussbaumer at King’s College London and the Francis Crick Institute, the scientific founders of our company, forms the basis for the development of potentially transformational treatments for cancer and autoinflammatory diseases," said Dr Paolo Paoletti, MD, CEO of GammaDelta Therapeutics. "We believe the collaboration with Takeda validates our novel approach and should allow us to move rapidly to the clinic."

Takeda, together with Abingworth, will commit up to $100 million in funding to accelerate GammaDelta Therapeutics led Research and Development. The funding includes an equity investment, an option fee and research and development funding, and provides Takeda the exclusive right to purchase GammaDelta Therapeutics. Under the agreement, Takeda will appoint a director to GammaDelta Therapeutics’ board.

"At Takeda, we recognize the enormous potential of tissue resident γδ T cells to deliver transformative medicines in our core therapeutic areas of oncology and gastroenterology," said Daniel Curran, MD, Head of the Center for External Innovation, Takeda. "This collaboration is another example of our strategy to invest in highly innovative areas of science and we’re pleased to collaborate with the experienced team at GammaDelta Therapeutics as they aim to take a leadership position in this rapidly emerging field."

"We are delighted by the progress GammaDelta Therapeutics has made since we founded the company in 2016," said Tim Haines, Managing Partner at Abingworth and a Director at GammaDelta Therapeutics. "This collaboration with Takeda will enable the company to advance the development of this exciting technology, which has the potential to address significant unmet needs in cancer and autoinflammatory diseases."

Takeda signed certain of the agreements with GammaDelta Therapeutics through its wholly-owned subsidiary, Millennium Pharmaceuticals, Inc.. The companies intend to use this novel platform to discover and develop new immunotherapies, with the aim of treating a broad range of cancers, including solid tumours, and autoinflammatory diseases.

"The pioneering research developed by Professor Adrian Hayday and Dr. Oliver Nussbaumer at King’s College London and the Francis Crick Institute, the scientific founders of our company, forms the basis for the development of potentially transformational treatments for cancer and autoinflammatory diseases," said Dr Paolo Paoletti, MD, CEO of GammaDelta Therapeutics. "We believe the collaboration with Takeda validates our novel approach and should allow us to move rapidly to the clinic."

Takeda, together with Abingworth, will commit up to $100 million in funding to accelerate GammaDelta Therapeutics led Research and Development. The funding includes an equity investment, an option fee and research and development funding, and provides Takeda the exclusive right to purchase GammaDelta Therapeutics. Under the agreement, Takeda will appoint a director to GammaDelta Therapeutics’ board.

"At Takeda, we recognize the enormous potential of tissue resident γδ T cells to deliver transformative medicines in our core therapeutic areas of oncology and gastroenterology," said Daniel Curran, MD, Head of the Center for External Innovation, Takeda. "This collaboration is another example of our strategy to invest in highly innovative areas of science and we’re pleased to collaborate with the experienced team at GammaDelta Therapeutics as they aim to take a leadership position in this rapidly emerging field."

"We are delighted by the progress GammaDelta Therapeutics has made since we founded the company in 2016," said Tim Haines, Managing Partner at Abingworth and a Director at GammaDelta Therapeutics. "This collaboration with Takeda will enable the company to advance the development of this exciting technology, which has the potential to address significant unmet needs in cancer and autoinflammatory diseases."

Takeda signed certain of the agreements with GammaDelta Therapeutics through its wholly-owned subsidiary, Millennium Pharmaceuticals, Inc.