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Tuesday, July 2, 2019

Varian to acquire certain cancer-related assets from Boston Scientific for $90M

Aimed at increasing its footprint in cancer, Varian (NYSE:VAR) has agreed to acquire certain interventional oncology lines from Boston Scientific for $90M.
The portfolio of drug-loadable microsphere (Oncozene/Embozene Tandem) and bland embolic bead products (Embozene) are used to treat arteriovenous malformations and hypervascular tumors.
The products generated $21.2M in revenue in 2018.
Varian says the transaction will be immaterial to fiscal 2019 results and guidance but will be accretive to EPS in 2020.

Iovance up 4% premarket on bullish registration path for LN-145

Iovance Biotherapeutics (NASDAQ:IOVA) perks up 4% premarket on light volume in reaction to positive developments on the regulatory pathway for Fast Track- and Breakthrough Therapy-tagged LN-145.
Based on FDA feedback from its End of Phase 2 meeting with the agency, the company says its ongoing Phase 2 innovaTIL-04 study in cervical cancer may be sufficient to support a U.S. marketing application based on a clearer definition of the patient population, specifically, patients who have progressed following first-line systemic treatment for recurrent/metastatic cervical cancer. This population comprises almost all of the advanced patients enrolled in the trial to date.
LN-145 is a tumor-infiltrating lymphocyte therapy derived from the patient’s own immune cells (T lymphocytes). The cells are isolated from the patient’s tumor, expanded in the laboratory, then infused back into the patient where they recognize and kill cancer cells. Patients also receive pre-conditioning therapy to reduce the immune suppressive environment of the cancer and up to six doses of interleukin 2 (IL-2) after LN-145 infusion to support the growth and activation of the TIL therapy.
The company expects to file its BLA in H2 2020.

Evercore softens view on Stryker in premarket analyst action

Veracyte (NASDAQ:VCYT) initiated with Buy rating and $33 (15% upside) price target at Needham.
PRA Health Sciences (NASDAQ:PRAH) initiated with Market Perform rating and $105 (7% upside) price target at SVB Leerink.
Bio-Techne (NASDAQ:TECH) upgraded to Buy with a $270 (29% upside) price target at Janney Montgomery.
Dova Pharmaceuticals (NASDAQ:DOVA) upgraded to Outperform at Evercore ISI. Shares up 5% premarket.
Teladoc (NYSE:TDOC) removed from Franchise Pick List at Jefferies.
Stryker (NYSE:SYK) downgraded to In Line with a $210 (2% upside) price target at Evercore ISI.

Perrigo up 2% premarket on guidance boost

Following the close of its Ranir Global Holdings buy, Perrigo (NYSE:PRGO) bumps its 2019 non-GAAP EPS guidance up $0.10.
Shares are up 2% premarket on light volume.

Incyte, Zai Lab in Collaboration and License Agreement in Greater China

Incyte Corporation (NASDAQ:INCY) and Zai Lab Ltd. (NASDAQ:ZLAB) today announced that the companies have entered into a collaboration and license agreement for the development and commercialization of INCMGA0012, an investigational anti-PD-1 monoclonal antibody, in Greater China.
Under the terms of the agreement, Zai Lab will pay Incyte US$17.5 million up front, and Incyte is eligible to receive up to an additional US$60 million in potential development, regulatory and commercial milestones, as well as tiered royalties from the low to mid-twenties, with Incyte responsible for all royalties and pass-through payments to its licensing partner, MacroGenics, Inc. Zai Lab will receive the rights to develop and exclusively commercialize INCMGA0012 in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan. Incyte will retain an option to assist in the promotion of INCMGA0012 in Zai Lab’s licensed territories.

Dicerna™ to Begin Clinical Development for Liver Disease Treatment

  • Company Submitted Clinical Trial Application and Plans to Initiate Multicenter Phase 1/2 Trial in Third Quarter of 2019 
  • Alpha-1 Antitrypsin Deficiency-Associated Liver Disease Program Broadens Dicerna’s Commitment to Addressing Chronic Liver Diseases
DicernaTM Pharmaceuticals, Inc. (Nasdaq: DRNA) (the “Company” or “Dicerna”), a leading developer of ribonucleic acid interference (RNAi) therapies, today announced it submitted a Clinical Trial Authorization (CTA) application to the Swedish Medical Products Agency (MPA) last week to conduct a first-in-human Phase 1/2 study of DCR-A1AT, an investigational therapy from the Company’s GalXC™ technology platform, for the treatment of alpha-1 antitrypsin (A1AT) deficiency-associated liver disease. A1AT deficiency is a genetic disorder that can cause liver disease in children and adults, leading to complications such as weight loss, fatigue, jaundice and life-threatening conditions such as cirrhosis. Patients with A1AT deficiency are also at risk for developing hepatocellular carcinoma.

Veru started at Overweight by Cantor

Target $6