Adverse events (AEs) took the shine off Odonate Therapeutics Inc.’s long-awaited top-line data from the phase III trial called Contessa testing the oral taxane chemotherapy tesetaxel in metastatic breast cancer (MBC), and shares of the San Diego-based firm (NASDAQ:ODT) closed at $18.33, down $15.21, or 45%.

Stimulator of interferon genes (STING) is a protein that senses DNA in the cytosol, where it comes from either an infectious invader or a damaged nucleus and sets off an immune response that ultimately results in the activation of T cells. STING agonists are among the strategies that have been tested in hopes they would increase the response rate to checkpoint blockade. Now, back-to-back papers in the Aug. 21, 2020, issue of Science have detailed the preclinical development of orally available STING agonists.

Innovent Biologics Inc., of Suzhou, has out-licensed ex-China rights for its PD-1 drug Tyvyt (sintilimab) to Eli Lilly and Co. in an expanded license deal. The Chinese firm will receive $200 million upfront in the deal, the value of which could approach up to $1.03 billion.

HONG KONG – China’s Lianyungang-based Jiangsu Hengrui Medicine Co. Ltd. has obtained approval from Korea’s Ministry of Food and Drug Safety (MFDS) to begin a phase III trial for a combination therapy of its PD-1 inhibitor candidate camrelizumab and VEGFR-2 inhibitor rivoceranib.

Following a patient’s death in Poseida Therapeutics Inc.’s phase I trial of P-PSMA-101 in metastatic castrate-resistant prostate cancer (mCRPC), the FDA has put the study on clinical hold.

Immunoscape Ltd. closed an $11 million global equity financing round led by U.S.-based venture firm Anzu Partners along with University of Tokyo Edge Capital in Japan, and Indonesia's NPR Holdings. The company plans to use the funds to ramp up its immune profiling technology platform, which performs deep T-cell analysis, and expand partnerships to develop vaccines for COVID-19 and other viruses as well as targeted oncology therapies.

HONG KONG – Singapore-based Tessa Therapeutics Pte. Ltd. released the results of two investigator-initiated phase I/II trials that found its autologous CD30 CAR T-cell therapy TT-11 showed a high rate of durable complete responses and a favorable safety profile in patients with relapsed/refractory Hodgkin lymphoma.

Manufacturing deficiencies triggered an FDA complete response letter for Fennec Pharmaceuticals Inc.'s Pedmark, a medicine intended to prevent ototoxicity associated with cisplatin use in children with certain solid tumors.

LONDON – After 17 years of patient toil, Lytix Biopharma AS has landed the first commercial endorsement of its oncolytic peptide platform, agreeing to a potential $113.5 million deal in which Verrica Pharmaceuticals Inc. will develop the lead product, LTX-315, as a transdermal treatment for skin cancer.