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Health Canada Approves First-of-Its-Kind Antibody-Drug Conjugate for Multiple Myeloma Treatment

Drug ApprovalOncologyTargeted Therapy
  • Health Canada has approved Blenrep, a first-of-its-kind antibody-drug conjugate for multiple myeloma treatment, representing a significant advancement for patients with this incurable blood cancer.
  • The drug features a unique dual mechanism that combines targeted antibody binding with attached cytotoxic payload to specifically kill myeloma cells in the bone marrow.
  • Blenrep is administered to patients who have undergone stem cell transplant and one prior line of therapy, offering an "off-the-shelf" treatment option that requires no special preparation.
  • The approval adds another therapeutic option to the treatment chain for multiple myeloma patients, potentially extending disease control for years and offering hope for significantly longer survival.

Kelun-Biotech Raises $250 Million in Largest Hong Kong Biopharma Follow-On Offering in 12 Months

Oncology
  • Kelun-Biotech successfully completed a $250 million share placement on June 5, 2025, representing the largest follow-on offering in Hong Kong's biopharma sector over the past 12 months.
  • The offering was multiple times oversubscribed with strong participation from global institutional investors, leading to an upsize from the initially targeted $200 million.
  • Proceeds will fund R&D, clinical trials, manufacturing and commercialization of the company's innovative drug pipeline, which includes over 30 ongoing projects and a leading ADC platform.
  • The company focuses on solid tumors, autoimmune, inflammatory and metabolic diseases, with 3 approved products, 1 in NDA stage, and over 10 in clinical development.

McKesson Corporation Completes Acquisition of Florida Cancer Specialists to Strengthen Community Oncology Network

Oncology
  • McKesson Corporation has finalized its acquisition of Core Ventures, which includes Florida Cancer Specialists & Research Institute, to expand community-based oncology care services.
  • The acquisition enhances McKesson's footprint in the healthcare sector by integrating an extensive network of oncology clinics and research facilities into its portfolio.
  • Florida Cancer Specialists operates comprehensive cancer care services and conducts clinical trials, supporting McKesson's strategy to advance patient-centered oncology treatment models.
  • The transaction aligns with McKesson's ongoing efforts to strengthen support for community-based healthcare providers and improve accessibility to specialized cancer care.

GlycoMimetics Stockholders Approve Merger with Crescent Biopharma, Creating New Oncology-Focused Entity

OncologyPrecision Medicine
  • GlycoMimetics stockholders approved the proposed merger with Crescent Biopharma on June 5, 2025, along with all related proposals including a 1-for-100 reverse stock split.
  • The combined company will trade on Nasdaq under the name "Crescent Biopharma, Inc." with ticker symbol "CBIO" starting June 16, 2025, with approximately 14.8 million shares outstanding.
  • Crescent Biopharma focuses on precision-engineered molecules for solid tumors, including lead program CR-001, a tetravalent PD-1 x VEGF bispecific antibody.
  • The merger combines GlycoMimetics' glycobiology platform for cancer and inflammatory diseases with Crescent's pipeline of three oncology programs targeting validated biology.

Hemispherian's GLIX1 Receives EMA Orphan Drug Designation for Glioma Treatment

OncologyRare Disease
  • The European Medicines Agency's Committee for Orphan Medicinal Products issued a positive opinion recommending Orphan Drug Designation for GLIX1, Hemispherian's lead molecule targeting glioma.
  • Non-clinical studies demonstrated significant tumor reduction and extended survival in validated animal models, with some cases achieving complete tumor eradication.
  • The designation provides 10 years of market exclusivity in the EU upon approval and regulatory guidance during clinical development.
  • Current glioblastoma therapies offer limited survival benefits with median overall survival typically less than 15 months, highlighting the urgent unmet medical need.

ABL Bio Receives Regulatory Approval for Triple Combination Cancer Therapy Trial

Oncology
  • ABL Bio received approval from South Korea's Ministry of Food and Drug Safety for a phase 1b/2 clinical trial evaluating triple combination therapy with ABL103, pembrolizumab, and taxane in solid tumors.
  • ABL103 is a bispecific antibody targeting B7-H4 and 4-1BB that demonstrates synergistic immune activation with pembrolizumab in preclinical studies, converting immunosuppressive tumor environments to inflammatory states.
  • The trial will include two safety lead-in parts and one dose expansion part to determine optimal dosing for the triple combination therapy across multiple countries including South Korea, United States, and Australia.

ImPact Biotech's Padeliporfin VTP Therapy Enables Surgical Resection in Previously Inoperable Pancreatic Cancer Patient

Oncology
  • ImPact Biotech's first patient in a Phase 1 trial of Padeliporfin VTP therapy for locally advanced pancreatic ductal adenocarcinoma successfully underwent surgical resection after being initially deemed inoperable.
  • The patient received a single administration of Padeliporfin VTP and subsequently underwent a successful pancreaticoduodenectomy (Whipple procedure) that was not previously considered feasible.
  • The vascular targeted photodynamic therapy uses intravenous Padeliporfin followed by targeted laser light activation to selectively ablate tumor tissue while preserving healthy structures.
  • Pancreatic ductal adenocarcinoma represents a significant unmet medical need with only 20% of patients having resectable disease at diagnosis and a five-year survival rate of approximately 10%.

Roche's Tecentriq Cuts Colon Cancer Recurrence by 50% in Patients with DNA Repair Defects

Precision MedicineOncology
  • Roche's immunotherapy drug Tecentriq combined with chemotherapy reduced cancer recurrence and death by 50% in colon cancer patients with deficient DNA mismatch repair tumors.
  • The phase 3 trial enrolled 712 patients with dMMR stage 3 colon cancer, representing about 15% of colon cancer cases that typically don't respond well to chemotherapy alone.
  • Study leader Dr. Frank Sinicrope called the findings a major advance that will change treatment standards for this specific type of colon cancer.
  • Benefits were observed even in the oldest patients and those at particularly high risk, with treatment involving six months of combination therapy followed by six months of Tecentriq alone.

Inka Health Launches Global AI-Oncology Consortium to Advance Predictive Cancer Research

AIOncologyPrecision Medicine
  • Inka Health, a subsidiary of Onco-Innovations Limited, is establishing the PROmAI Consortium to bring together pharmaceutical companies, academic institutions, and data science experts for AI-driven cancer research collaboration.
  • The consortium will focus on developing next-generation AI approaches that integrate real-world and clinical trial data from molecular, imaging, clinical, and other multimodal sources to enhance predictive accuracy in oncology.
  • PROmAI aims to accelerate progress toward personalized, cost-effective cancer care while establishing standards for AI transparency and trustworthiness in clinical drug development contexts.
  • The initiative is currently in its formative phase with formal discussions underway with prospective founding members, representing a strategic milestone in AI-driven oncology innovation.

Cellectar Biosciences Raises $2.5 Million Through Warrant Exercise to Advance Cancer Drug Development

Targeted TherapyOrphan DrugOncology
  • Cellectar Biosciences secured $2.5 million in funding through the exercise of existing warrants at a reduced price of $0.3041 per share, with proceeds designated for general corporate purposes and operating expenses.
  • The company's lead candidate iopofosine I 131 has received FDA Breakthrough Therapy Designation and is being studied in Phase 2b trials for multiple myeloma and CNS lymphoma.
  • Cellectar's proprietary Phospholipid Drug Conjugate platform aims to deliver next-generation cancer treatments with improved efficacy and safety through targeted delivery mechanisms.

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