A significant medical breakthrough is desperately needed in the fight against metastatic breast cancer. As it stands right now, metastatic breast cancer has no cure and has proven resistant to many cancer treatments. However, there may be hope on the horizon for the 43,000 women that die every year from the disease. In fact, companies such as BriaCell Therapeutics Corp. (NASDAQ: BCTX) (TSX: BCT) are already reporting positive survival data in advanced cases of metastatic breast cancer. We should also point out that, according to Research and Markets.com, the global breast cancer drug market could be worth $27.04 billion by 2026. Global Markets Insights also says that number could be closer to $43 billion by 2028, with further advances in breast cancer care. Also helping with the fight against breast cancer are companies, such as Eli Lilly (NYSE: LLY), Puma Biotechnology (NASDAQ: PBYI), Gilead Sciences (NASDAQ: GILD), and ImmunoGen (NASDAQ: IMGN).
Look at BriaCell Therapeutics (NASDAQ: BCTX) (TSX: BCT), For Example
BriaCell Therapeutics, a clinical-stage biotechnology company specializing in targeted immunotherapies for cancer, announced that it has entered into an arrangement agreement dated May 24, 2023 with BriaPro Therapeutics Corp., a wholly-owned subsidiary of the Company pursuant to which certain pre-clinical pipeline assets of the Company, including Bria-TILsRx™ and protein kinase C delta (PKCδ) inhibitors for multiple indications including cancer, will be spun-out to SpinCo by way of a court approved statutory plan of arrangement under the Business Corporations Act (British Columbia).
“As we focus on Bria-IMT’s upcoming pivotal study, we believe that this strategy of spinning out our preclinical immunotherapies in a separate entity of BriaPro Therapeutics Corp. will position them for success and will create our shareholders value over the long term,” stated Dr. William V. Williams, BriaCell’s President and CEO. “We continue with our mission to develop novel immunotherapies to fight cancer and improve patients’ lives whose medical needs are currently unmet.”
Pursuant to the Arrangement Agreement, SpinCo will acquire the entire right and interest in and to the SpinCo Assets in consideration for the issuance by SpinCo to the Company of SpinCo common shares. Under the terms of the Arrangement, for each BriaCell share held immediately prior to closing, BriaCell shareholders will receive one (1) common share of SpinCo, and one (1) new common share of BriaCell having the same terms and characteristics as the existing BriaCell common shares. SpinCo Shares issued to BriaCell shareholders will, in aggregate, represent 33.33% ownership of SpinCo Shares upon closing of the Arrangement, with BriaCell initially retaining a 66.67% ownership interest in SpinCo. BriaCell shareholders who receive SpinCo Shares will ultimately own shares in both companies: BriaCell, which will continue with its mission to develop targeted immunotherapies for cancer, and SpinCo, which will focus on the development of the SpinCo Assets.
Under the terms of the Arrangement, existing holders of BriaCell warrants shall receive upon exercise of such BriaCell warrant, for the original exercise price: one (1) BriaCell common share for each BriaCell common share that was issuable upon due exercise of a BriaCell warrant immediately prior to the consumation of the Arrangement and one (1) SpinCo Share for each BriaCell common share that was issuable upon exercise of the BriaCell warrant immediately prior to the Arrangement.
Following the Arrangement, BriaCell will remain listed on both the NASDAQ Capital Market and Toronto Stock Exchange, and SpinCo will become an unlisted reporting issuer in Canada.
Other related developments from around the markets include:
The New England Journal of Medicine published detailed results from Eli Lilly and Company's phase 2a study of peresolimab in rheumatoid arthritis (RA), in which peresolimab met the primary endpoint for efficacy and had similar rates of adverse events between peresolimab and placebo arms. These data represent the first clinical evidence that stimulating the endogenous PD-1 inhibitory pathway could be an effective approach to treat rheumatologic disease. The phase 2a clinical trial (NCT04634253) evaluated the safety and efficacy of peresolimab in adult participants with moderate-to-severe RA who had an inadequate response to prior conventional, biologic or synthetic disease modifying antirheumatic drugs (DMARDs).
Puma Biotechnology, a biopharmaceutical company, announced financial results for the first quarter ended March 31, 2023. Unless otherwise stated, all comparisons are for the first quarter of 2023 compared to the first quarter of 2022. Product revenue, net consists entirely of revenue from sales of NERLYNX®, Puma’s first commercial product. Product revenue, net in the first quarter of 2023 was $46.8 million, compared to product revenue, net of $40.7 million in the first quarter of 2022. Based on accounting principles generally accepted in the United States (GAAP), Puma reported net income of $1.4 million, or $0.03 per basic and diluted share, for the first quarter of 2023, compared to net loss of $3.4 million, or $0.08 per share, for the first quarter of 2022.
Gilead Sciences and Kite, a Gilead Company, will present 30 abstracts during the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting. These data reinforce the strength of Gilead and Kite Oncology’s transformative science in hard-to-treat cancers. “The breadth of data being presented at ASCO is a testament to our commitment in helping to bring more life to people with cancer,” said Bill Grossman, MD, PhD, Senior Vice President, Therapeutic Area Head, Gilead Oncology. “We are determined to deliver the best outcomes for patients and are proud to highlight the pan-tumor efficacy of Trodelvy as well as our growing presence across lung cancer and many other tumor types.”
ImmunoGen, a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, announced that results from the Phase 3 confirmatory MIRASOL trial (GOG 3045/ENGOT OV-55) evaluating the safety and efficacy of ELAHERE®(mirvetuximab soravtansine-gynx) compared to chemotherapy in patients with folate receptor alpha (FRα)-positive platinum-resistant ovarian cancer, have been selected for a late-breaking oral presentation at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting taking place June 2-6, 2023 in Chicago, Illinois.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for BriaCell Therapeutics Corp. by BriaCell Therapeutics Corp. We own ZERO shares of BriaCell Therapeutics Corp. Please click here for disclaimer.
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