Auris Medical Holding Ltd., of Hamilton, Bermuda, said it received notice that it regained compliance with Nasdaq listing requirements.
Genmab A/S, of Copenhagen, said it was notified that Novartis AG, of Basel, Switzerland, plans to transition Arzerra (ofatumumab) to an oncology patient access program, facilitated through Patient Access Novartis Oncology, that will provide the drug at no cost to individuals in the U.S. with chronic lymphocytic leukemia (CLL). Consequently, Novartis will pay Genmab a lump sum of $30 million to cover potential lost royalties. The B-lymphocyte antigen CD20 inhibitor was developed by Novartis under a license agreement with Genmab and launched initially in 2009 to treat CLL. A subcutaneous version, branded Kesimpta, was approved by the FDA in August 2020 to treat relapsing forms of multiple sclerosis in adults.
Lung Therapeutics Inc., of Austin, Texas, said it was awarded a Small Business Innovation Research grant of $300,228 by the NIH to study potential therapies targeting fibrotic processes in the kidneys. The company has advanced LTI-01, a urokinase plasminogen activator modulator, into the clinic to treat empyema.
Medicenna Therapeutics Corp., of Toronto, said its common shares were approved for listing on the Nasdaq Capital Market, with trading expected to begin on Aug. 24, 2020, under the symbol MDNA. The company will retain its listing on the Toronto Stock Exchange as MDNA.
Silence Therapeutics plc, of London, said it publicly filed a registration statement with the SEC in connection with a proposed listing of American depositary shares on the Nasdaq Capital Market representing the company's ordinary shares of nominal value £0.05 each (US$0.065). The move is designed to facilitate a market in the U.S. for the company’s shares, which will continue to be admitted to the AIM of the London Stock Exchange, where the company trades as SLN. Silence does not plan to register additional securities.
Sorrento Therapeutics Inc., of San Diego, said its acquisition of Smartpharm Therapeutics Inc., of Cambridge, Mass., disclosed in July 2020, is moving forward, with Smartpharm equity holders set to receive up to $19.4 million in shares of Sorrento common stock, subject to certain adjustments, based on a price per share calculated in accordance with the merger agreement. The transaction is expected to close in early September 2020. Sorrento and Smartpharm previously engaged in an R&D collaboration to encode and express in vivo Sorrento's SARS-CoV-2 neutralizing monoclonal antibodies using Smartpharm's plasmid nanoparticle platform. The resulting antibody encoded DNA plasmid candidate, STI-2020dna, is undergoing preclinical in vivo studies. On Aug. 21, 2020, Sorrento’s shares (NASDAQ:SRNE) lost 87 cents, or about 8%, to close at $10.06.
Technovax Inc., of Elmsford, N.Y., and the CUNY School of Medicine at The City College of New York said they achieved a breakthrough in their collaboration to develop a vaccine for COVID-19 by generating and characterizing SARS-CoV-2 virus-like particles (VLPs) that are structural mimics of the native virus in size, morphology and surface composition but devoid of viral, infection-causing genetic material. The CV-19 VLPs were assembled in a suspension culture of mammalian cells containing coronavirus structural elements and modified surface spike molecules designed to ensure stability, abundance and immunogenic properties. The organizations said they are discussing potential partnerships to advance the technology.