NOXXON Announces €2.375 Million Funding Under Agreement With Atlas
BERLIN–(BUSINESS WIRE)–Regulatory news:
NOXXON Pharma SA (Euronext Growth Paris: ALNOX) (Paris:ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), today announces that it has raised additional rounds of funding from its funding agreement with Atlas Special Opportunities, LLC (ASO), for a total amount of €2,375,000, and issued 2,419 convertible bonds (including 44 convertible bonds issued in connection with the transaction fee) with a nominal value of €1,000 each. The remaining availability under the ASO facility extends the company’s cash trail to December 2022.
The characteristics, terms and conditions of the ASO financing can be found in the press releases of April 23, 2020 and October 14, 2020. The extension of the financing capacity and the dilutive potential were published in the press release of January 3, 2022. NOXXON maintains a summary table of convertible bonds issued in the Investors section of its website.
NOXXON’s oncology-focused pipeline acts on the tumor microenvironment (TME) and cancer immunity cycle by breaking down the tumor protective barrier and blocking tumor repair. By neutralizing chemokines in the TME, NOXXON’s approach works in combination with other forms of treatment to weaken tumor defenses against the immune system and enable greater therapeutic impact. NOXXON’s main program, NOX-A12, provided the final front-line data from a Keytruda® combination trial in patients with metastatic colorectal and pancreatic cancer published at the ESMO conference in September 2020 and in July 2021 the company announced its phase 2 study, OPTIMUS, to further assess safety and efficacy NOX-A12 in combination with Keytruda from Merck® and two different chemotherapy regimens as second-line therapy in patients with metastatic pancreatic cancer. NOXXON is also studying NOX-A12 in brain cancer in combination with radiation therapy, which has been granted orphan drug status in the US and EU for the treatment of certain brain cancers. GLORIA, a trial of NOX-A12 in combination with radiation therapy in newly diagnosed brain cancer patients who will not clinically benefit from standard chemotherapy, has provided interim data from the first two cohorts showing consistent tumor reductions and objective tumor responses. Additionally, GLORIA was expanded to assess the benefit of NOX-A12 with other treatment combinations, radiotherapy + bevacizumab and radiotherapy + pembrolizumab. The Company’s second clinical-stage asset, NOX-E36, is a Phase 2 TME asset targeting the innate immune system. NOXXON plans to test NOX-E36 in patients with solid tumors. Further information is available at: www.noxxon.com.
Keytruda® is a registered trademark of Merck Sharp & Dohme Corp.
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About the GLORIA study
GLORIA (NCT04121455) is NOXXON’s dose-escalating Phase 1/2 study of NOX-A12 in combination with radiation in first-line patients with partially resected or unresected glioblastoma (brain cancer) with a promoter Unmethylated MGMT (resistant to standard chemotherapy). GLORIA is further evaluating the safety and efficacy of NOX-A12 in three additional arms combining NOX-A12 with: A. radiation therapy in patients with complete tumor resection; B. radiotherapy and bevacizumab in patients with incomplete tumor resection; and C. radiation therapy and pembrolizumab in patients with incomplete tumor resection.
About the OPTIMUS study
OPTIMUS (NCT04901741) is NOXXON’s open-label, two-arm Phase 2 study of NOX-A12 plus pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in patients with stable microsatellite metastatic pancreatic cancer.
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