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Monday, April 8, 2019

GENFIT: Upcoming Presentations on NASH, PBC and Diagnostics

GENFIT (Nasdaq and Euronext: GNFT – ISIN: FR0004163111), a late-stage biopharmaceutical company dedicated to the discovery and development of innovative therapeutic and diagnostic solutions in metabolic and liver related diseases, today announced it will present new data at the International Liver Congress (ILC) 2019, which will take place April 10-14 in Vienna, Austria.
Abstracts are available for download and viewing through the International Liver Congress website.

Biomerica nabs new patent for IBS in U.S.

The USPTO has issued a Notice of Allowance for Biomerica’s (NASDAQ:BMRA) first U.S. patent pertaining to the Company’s InFoods family of products that allow for new treatment option for patients suffering from Irritable Bowel Syndrome (IBS) and other gastrointestinal diseases.
Specifically, this allowed application contains numerous claims that broadly cover a product that helps identify patient specific foods, that when removed, may alleviate or improve an individual’s IBS symptoms.

Immunomedics enters promotion agreement with Janssen for erdafitinib

Immunomedics (IMMU) announced that it has entered into a promotion agreement in which Immunomedics will provide detailing services to Janssen (JNJ), for erdafitinib in the U.S. Under the terms of the agreement, Immunomedics’ sales team will provide product detailing from the launch of erdafitinib until the end of the Q1 2020, but only requires Immunomedics to support the product in first position detail until the FDA approval of sacituzumab govitecan. Immunomedics is eligible to receive low double digit royalties and milestone payments based on U.S. sales throughout 2019 and 2020, subject to sales thresholds in each year, respectively. A new drug application, or NDA, for erdafitinib is currently under review by the FDA for the treatment of patients with locally advanced or metastatic urothelial cancer and certain fibroblast growth factor receptor, or FGFR, genetic alterations whose tumors have progressed after prior chemotherapy. Erdafitinib is an investigational, once-daily, pan-FGFR kinase inhibitor that received breakthrough therapy designation from the FDA in March 2018.

Alnylam alliance with Regeneron a ‘clear positive,’ says Piper Jaffray

Alnylam Pharmaceuticals (ALNY) today concluded its 2014 RNAi discovery collaboration with Sanofi (SNY) and announced a new five-year RNAi drug discovery alliance with Regeneron Pharmaceuticals (REGN), Piper Jaffray analyst Edward Tenthoff tells investors in a research note. Alnylam will receive $400M in cash and Regeneron will make a $400M equity investment at $90 per Alnylam share, bringing its estimated pro forma cash to $2.3B, adds the analyst. He believes the alliance is a “clear positive for Alnylam “dramatically expanding” its RNAi drug discovery capabilities and strengthening its balance sheet to advance its own orphan disease programs. Tenthoff reiterates an Overweight rating on Alnylam with a $142 price target. The stock in early trading is down 3%, or $2.95, to $89.94.

Inovio Hits 3rd Cancer Indication Milestone for MEDI0457 Phase 2

Inovio Pharmaceuticals, Inc. (NASDAQ: INO) announced today that it achieved a third indication milestone from AstraZeneca resulting from dosing a patient in a Phase 2 combination trial evaluating MEDI0457 (formerly called INO-3112) in combination with durvalumab targeting cervical, anal, penile, and vulvar cancers associated with the human papilloma virus (HPV). The milestone achievement for this multi-indication trial is the third MEDI0457-related Phase 2 milestone from AstraZeneca; two previous milestone payments resulted from initiating Phase 2 combination trials targeting head and neck and cervical cancers. Financial arrangements were not disclosed.
Dr. J. Joseph Kim, Inovio’s President and Chief Executive Officer, said, “This Phase 2 milestone stresses the potential breadth of MEDI0457 in treating multiple HPV-associated cancers. Inovio’s goal is to lead the HPV-treatment market from pre-cancers with its lead product VGX-3100 to cancers with MEDI0457 along with our partner AstraZeneca.”
In several on-going Phase 2 cancer-indication trials, AstraZeneca is evaluating MEDI0457 in combination with durvalumab, an anti-PD-L1 immune checkpoint inhibitor, in patients with HPV-associated head and neck, cervical, anal, penile, and vulvar cancers. Inovio is developing its HPV monotherapy VGX-3100 for pre-cancerous indications in a Phase 3 trial for cervical dysplasia; and in Phase 2 trials for vulvar and anal dysplasia.

Merck wins Versum’s support for sweetened $6.5 billion offer

Merck KGaA won the support of Versum Materials Inc’s board with a sweetened $6.5 billion takeover proposal, topping an agreed merger with rival Entegris.

“This proposal constitutes a ‘Superior Proposal’ as defined in Versum’s previously announced merger agreement with Entegris, Inc.,” Versum said in a statement on Monday.
On a per share basis, Merck offered $53, up from $48 previously, after reviewing business data and following meetings between Merck Chief Executive Stefan Oschmann and Versum Chairman Seifi Ghasemi, filings showed.
Entegris has the right to propose revisions to the existing merger agreement until April 11.
Versum will owe its jilted partner $140 million in termination fees if it agrees to be bought by Merck.
Versum, the former specialty chemicals division of industrial gases group Air Products, had previously opposed Merck’s overture, saying it was committed to an all-share merger with Entegris, agreed in January.
Merck last month launched a hostile all-cash takeover offer to Versum shareholders – with a price tag of $5.9 billion including debt – as the German pharma group looks to boost its presence in the semiconductor materials market.[L3N21G3QZ]
Based on about $700 million in assumed Versum debt and about 109 million shares, the increased Merck offer would be worth close to $6.5 billion.

Audentes Licenses Nationwide Children’s Hospital’s Muscular Dystrophy Tech

San Francisco-based Audentes Therapeutics signed a licensing agreement and collaboration deal with Nationwide Children’s Hospital to expand its pipeline for vectorized antisense treatments for Duchenne muscular dystrophy (DMD) and myotonic dystrophy type 1 (DM1).
Audentes and Nationwide Children’s are working together to develop AT702, an AAV-antisense therapy candidate engineered to induce exon 2 skipping for DMD with duplications of exon 2 and mutations in exons 1-5 of the dystrophin gene. DMD is a muscle-wasting disease that primarily affects boys and often leads to early death in the twenties. It is caused by various mutations in the dystrophin gene, which is involved in muscle development.
Vectorized exon skipping utilizes an adeno-associated virus (AAV) vector to deliver an antisense sequence that is designed to cause cells to skip over mutations or misaligned sections of the genetic code. This can lead to the expression of a more complete, functional protein, although the protein is often shortened or truncated.
As part of the deal, Audentes will also gain the expertise of two Nationwide Children’s researchers, Kevin M. Flanigan and Nicolas S. Wein.

“Today’s announcement represents a significant step forward in expanding our scientific platform and deepening our pipeline of product candidates for neuromuscular diseases with high unmet medical need,” stated Matthew R. Patterson, chairman and chief executive officer of Audentes. “We see tremendous potential in combining AAV with validated oligonucleotide-based approaches to treat diseases that are not amenable to traditional AAV-based gene replacement. We believe this approach, combined with our in-house large-scale cGMP manufacturing capability, can deliver best-in-class therapies for the treatment of Duchenne muscular dystrophy and myotonic dystrophy.”
In addition to developing AT702, separate from the Nationwide Children’s collaboration, Audentes is running preclinical studies to advance AT751 and AT753, also vectorized exon skipping candidates, to treat DMD patients with genotypes involving exon 51 and exon 53 skipping. Both use the same vector construct backbone as AT702, which may speed clinical development.
With these three programs, Audentes is targeting more than 25% of DMD patients. It hopes that by leveraging its vectorized exon-skipping platform, it can develop enough products to treat up to 80% of DMD patients.
Audentes and Nationwide Children’s are also evaluating vectorized RNA knockdown and vectorized exon skipping for DM1. They are designed to stop the accumulation of toxic dystrophia myotonica-protein kinase (DMPK) RNA in cells, restoring normal cellular function. Preclinical studies are ongoing and Audentes is planning an Investigational New Drug (NDA) application for AT466 in 2020.

In October 208, Sarepta Therapeutics, based in Cambridge, Mass., signed a discovery and development deal with Nationwide Children’s Hospital. This deal gave Sarepta the exclusive option to a Nationwide Children’s gene therapy candidate, neurotrophin 3 (NT-3), to treat Charcot-Marie-Tooth (CMT) neuropathies, including CMT type 1A. CMT is a family of hereditary, degenerative nerve diseases that affect motor skills. It is the most common inherited neuromuscular disorder, affecting over 2.8 million people around the world.
In 2016, the U.S. Food and Drug Administration (FDA) approved the first drug to treat DMD, Sarepta’s Exondys 51. It was a long, dramatic and controversial approval journey involving numerous public hearings, internal FDA battles and letters from Congress and leading DMD physicians to the agency.
These deals mark the entry of gene therapy into mainstream drug development. Roche recently acquired Spark Therapeutics for $4.8 billion. Spark developed a gene therapy for a rare eye disease and hemophilia. And in 2018, Novartis acquired AveXis for $8.7 billion. AveXis has a gene therapy for spinal muscular atrophy (SMA).
Marshall Gorden, a senior research analyst at ClearBridge Investments, told Barron’s last year, “Big drug companies are waking up and saying this is a real technology and that they need to be there.”