On September 26, 2017 Glythera Limited (Glythera), the next generation antibody drug conjugate (ADC) development company, and Cancer Research UK* reported an agreement giving Glythera exclusive, worldwide rights to the charity’s novel CDK11 inhibitor payload series for the development of multiple ADCs conjugated using Glythera’s proprietary PermaLink conjugation platform (Press release, Cancer Research Technology, SEP 26, 2017, View Source [SID1234523160]).

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According to the agreement, Glythera and Cancer Research UK will select and optimise toxins from the inhibitor payload series for development in ADCs. Glythera will then progress multiple ADCs, optimised according to cancer cell-kill profiles, for difficult-to-treat tumours. Glythera is currently evaluating a range of clinically important antibody targets and intends to identify its first clinical ADC candidate by 2019.

This agreement follows a successful period of collaboration between the parties during which the viability of selected low molecular weight CDK11 molecules was demonstrated in relevant ADC models.

The CDK11 inhibitor programme has identified a series of low molecular weight, synthetically tractable compounds which potently inhibit and are selective against other kinase targets. The series demonstrates highly potent anti-proliferative activity in dividing and non-dividing tumour cells and represents an exciting approach for ADCs.

Under the Terms of the agreement, Cancer Research UK will receive an undisclosed up-front fee, milestone payments on programme success for each resulting ADC, and royalties on worldwide product sales. Glythera is responsible for the development, manufacturing and commercialisation of any ADC products resulting from the agreement.

Dr Hamish Ryder, Director of Cancer Research UK’s Therapeutic Discovery Laboratories, said: "This collaboration highlights the success of our drug discovery approach in translating the most promising early stage research into new cancer treatments."

"We’re excited to work with Glythera to identify and advance the very best novel agents and develop targeted treatments for cancer patients. By continuing to bring together industry and world leading academics in this field, we hope to transform the outlook for people with cancers that are the hardest to treat."

Dr Dave Simpson, Chief Executive Officer, Glythera, said: "I am delighted that Glythera is working with Cancer Research UK as we look to identify and develop CDK11 inhibitor payloads and antibody conjugates to combat difficult-to-treat solid tumours and improve the lives of patients living with cancer."

On September 25, 2017 Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL) technology, reported the closing of its public offering of 8,846,154 shares of its common stock at a public offering price of $6.50 per share, before underwriting discounts (Filing, 8-K, Iovance Biotherapeutics, SEP 26, 2017, View Source [SID1234520655]). The shares of common stock issued and sold in the offering at the closing include 1,153,846 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares at the public offering price less the underwriting discount.

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The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are approximately $57.5 million.

Jefferies LLC and Wells Fargo Securities, LLC were joint book-running managers, Oppenheimer & Co. Inc. was the lead manager, and H.C. Wainwright, LLC and Chardan were co-managers for the offering.

A shelf registration statement on Form S-3 relating to the shares of common stock offered in the public offering was previously filed and declared effective by the Securities and Exchange Commission (the SEC). A preliminary prospectus supplement relating to the shares of common stock sold in this offering was filed with the SEC on September 19, 2017. A final prospectus supplement relating to the offering was filed with the SEC on September 21, 2017. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Jefferies LLC, 520 Madison Avenue, New York, New York, 10022, or by email to [email protected], or by phone at (877) 821-7388; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, or by email to [email protected], or by phone at (800) 326-5897.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.