Categories
Business

Stonepeak signs recapitalization of portfolio company Cologix in support of continued market leading growth

NEW YORK & DENVER — (BUSINESS WIRE) — Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the recapitalization of Cologix, the largest private interconnection and hyperscale edge platform in North America. The recapitalization is being effectuated as a sale of Cologix by Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to Stonepeak-managed vehicles comprising a combination of existing Fund II investors who have chosen to reinvest in the business in partnership with a number of new third-party investors.

Cologix is North America’s leading network-neutral interconnection and hyperscale edge data center company with more than 600 networks and over 300 cloud providers across the platform. The company provides critical IT infrastructure to more than 1,600 customers through its operations that span 40 interconnection and hyperscale data centers in 11 North American markets. Cologix maintains a strong focus on environmental, social and governance efforts across its business and to date has undertaken various sustainability initiatives, including the use of hydropower, optimizing water usage, and installing the most efficient uninterruptible power supplies in the industry.

 

Fund II acquired a majority stake in Cologix in March of 2017 and subsequently partnered with Mubadala Investment Company for an incremental growth capital investment in January 2020. Since 2017, Cologix has invested approximately $1 billion of incremental capital in building out the company’s footprint through various organic and inorganic initiatives.

 

Cyrus Gentry, Managing Director at Stonepeak, said, “It has been fantastic to partner with Bill and team over the past four years as they have significantly expanded the footprint of the business through both organic development and M&A to build a truly premier interconnection and hyperscale edge platform in North America. Our thesis around the criticality of interconnection in today’s digital society makes an enduring partnership with a business like Cologix an incredibly exciting opportunity.”

 

“With this transaction, Cologix is even better positioned to accelerate its expansion by directly supporting the rapid growth of Cologix’s customers,” added Cologix Chief Executive Officer Bill Fathers. “We will continue to leverage our unique footprint of carrier-dense interconnection hubs, public cloud onramps and growing campuses across 11 markets in North America.”

 

The transaction is expected to close in the first quarter of 2022, subject to a market check process, regulatory approvals and the satisfaction of customary closing conditions.

 

Goldman Sachs & Co. LLC is acting as financial advisor to Stonepeak. RBC Capital Markets, LLC is acting as financial advisor to Fund II and will run the market check process. Simpson Thacher & Bartlett LLP is acting as legal counsel to Stonepeak.

 

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $43.5 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, power and renewable energy, transport and logistics, and water. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, and Sydney. For more information, please visit www.stonepeakpartners.com.

 

About Cologix

Cologix provides carrier and cloud neutral hyperscale edge data centers and services across North America. Cologix is the interconnection hub for cloud service providers, carriers and a rich ecosystem of partners who want to deploy applications at the very edge across Canada and the U.S. With a growing portfolio of next generation facilities that meet the unique requirements for hyperscale growth with deep connectivity, Cologix offers massive scale and tailor-made data center solutions to accelerate customers’ digital transformation. For on-demand connectivity for scale and control, Cologix Access Marketplace provides fast, reliable, self-service provisioning. For a tour of one of our data centers in Ashburn, Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, New Jersey, Silicon Valley, Toronto or Vancouver visit www.cologix.com or email sales@cologix.com. Follow Cologix on LinkedIn and Twitter.

 

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

 

Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

 

Mubadala’s Digital Infrastructure unit, headed by Mounir Barakat, invests in physical assets around the world underpinning the global trend of digitalization and increasing demand for connectivity, data storage and compute power.

 

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing. For more information about Mubadala Investment Company, please visit: www.mubadala.com.

Contacts

Stonepeak
Kate Beers

beers@stonepeak.com
+1 646-540-5225

Cologix
Krista Shepard

krista.shepard@cologix.com
+1 720-739-5396

Categories
Business Healthcare

Legend Biotech announces appointment of Dr. Ying Huang to the Board of Directors

SOMERSET, N.J. — (BUSINESS WIRE) — $LEGN–Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”), a global, clinical-stage biotechnology company developing and manufacturing novel therapies, announced today that Dr. Ying Huang, Legend Biotech’s Chief Executive Officer and Chief Financial Officer, has been appointed as a director to Legend Biotech’s Board of Directors. Dr. Huang will serve as a Class I director.

“We are delighted to have Dr. Huang join our Board of Directors,” said Sally Wang, Chairwoman of Legend Biotech. “As Legend Biotech’s Chief Executive Officer and Chief Financial Officer, Dr. Huang has been instrumental to Legend Biotech’s progress to date, and his extensive knowledge of Legend Biotech will surely enhance our Board of Directors.”

 

Ying Huang, Ph.D., has served as Legend Biotech’s Chief Executive Officer since September 2020 and as its Chief Financial Officer since July 2019. Prior to joining Legend Biotech, Dr. Huang was a Managing Director and Head of Biotech Equity Research at BofA Securities, Inc. from August 2014 to July 2019, where he led a team of analysts covering more than 30 biotechnology companies including Amgen, Gilead, Celgene, Biogen and others that encompass a wide range of therapeutic areas. Dr. Huang became a biotechnology analyst in 2007 and worked at Wells Fargo (formerly Wachovia), Credit Suisse, Gleacher and Barclays before joining BofA Securities, Inc. Prior to his Wall Street career, Dr. Huang was a Principal Scientist at Schering-Plough (now Merck & Co.) in the Department of Chemical Research focusing on small molecule drug discovery in the therapeutic areas of cardiovascular and central nervous system. He is also the co-author of multiple patents and peer-reviewed publications. Dr. Huang holds a Ph.D. in Bio-organic Chemistry from Columbia University. Dr. Huang also studied at Columbia Business School and in the Special Class for the Gifted Young at the University of Science and Technology of China.

 

About Legend Biotech

Legend Biotech is a global, clinical-stage biotechnology company dedicated to treating, and one day curing, life-threatening diseases. Headquartered in Somerset, New Jersey, we are developing advanced cell therapies across a diverse array of technology platforms, including autologous and allogenic chimeric antigen receptor T-cell, T-cell receptor (TCR-T), and natural killer (NK) cell-based immunotherapy. From our three R&D sites around the world, we apply these innovative technologies to pursue the discovery of safe, efficacious and cutting-edge therapeutics for patients worldwide.

 

We are currently engaged in a strategic collaboration to develop and commercialize our lead product candidate, ciltacabtagene autoleucel (cilta-cel), an investigational BCMA-targeted CAR-T cell therapy for patients living with multiple myeloma. Applications seeking approval of cilta-cel for the treatment of patients with relapsed or refractory multiple myeloma (RRMM) are currently under regulatory review by several health authorities around the world, including the U.S. Food and Drug Administration and the European Medicines Agency.

Contacts

Investor Contacts:


Joanne Choi, Senior Manager of Investor Relations and Corporate Communications, Legend Biotech

joanne.choi@legendbiotech.com

Crystal Chen, Manager of Investor Relations and Corporate Communications, Legend Biotech

crystal.chen@legendbiotech.com

Press Contact:


Tina Carter, Corporate Communications Lead, Legend Biotech

tina.carter@legendbiotech.com or media@legendbiotech.com

Categories
Business

AM Best places credit ratings of SILAC Insurance Company under review with developing implications

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of SILAC Insurance Company (SILAC) (Salt Lake City, UT).

SILAC has been placed under review with developing implications as the company’s risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR), has declined to an assessed level of weak as of year-end 2020. The company’s capital was strained significantly by rapid top-line growth and an increase in below investment grade bonds in its general account investment portfolio. However, during 2021, SILAC reduced its allocation to below investment grade bonds.

 

SILAC has taken steps to counter the weak BCAR assessment with the receipt of a $40 million capital contribution during fourth-quarter 2021 from its parent company, SILAC, Inc., and a commitment on a $60 million surplus note to be closed in early January 2022. Additionally, SILAC has committed to increasing the internal management target of the company’s risk based capital to 600% authorized control level (ACL) (300% company action level [CAL]) from 400% ACL (200% CAL). AM Best acknowledges that SILAC has recorded favorable earnings over the past year, which has contributed positively to SILAC’s capital position. However, the company’s relatively high level of financial and reinsurance leverage somewhat diminishes the overall quality of capital for the organization, and interest expense may put some pressure on earnings over the near to medium term.

 

The ratings will remain under review until AM Best can fully assess the company’s capital plans, including its ability to secure additional capital and manage top-line growth to maintain an acceptable level of risk-adjusted capitalization, as measured by BCAR, for its current ratings.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Shauna Nelson

Senior Financial Analyst
+1 908 439 2200, ext. 5365
shauna.nelson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Michael Adams
Associate Director
+1 908 439 2200, ext. 5133
michael.adams@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Healthcare Lifestyle

Rapidly emerging digital health company DiRx raises $10 million in Series A funding

EAST BRUNSWICK, N.J. — (BUSINESS WIRE) — DiRx, a digital health company that delivers significant savings on commonly prescribed, FDA-approved generic medicines through its online pharmacy platform without the need for insurance, today announced that it has successfully raised a total of $10 million in Series A funding, updating its previous announcement of having initially raised $5.75 million in September 2021 during the first phase of the round.


This funding will continue to power the expansion and national market reach of its innovative pharmacy model to more Americans. Similar to its $5 million Seed Round raised last year, this Series A round was also a private placement with healthcare-specialized investors including new as well as returning participants.

 

With over 40 million uninsured and 80 million underinsured Americans struggling with unaffordable out-of-pocket medicine costs, the DiRx model reduces the number of supply chain layers and offers low priced options for over 1,000 FDA-approved prescription generic medications, without requiring health insurance or any discount cards or coupons.

 

With medicine priced as low as $3 a month, DiRx offers a 12-month price guarantee – an industry first, protecting consumers from unexpected price fluctuations that are now part of the industry norm.

 

In addition to its direct-to-consumer (DTC) digital platform, DiRx is also gaining significant traction with institutional (B2B) partnerships that would offer similar pharmacy benefit cost advantages to larger groups within the health ecosystem such as self-insured employers, third party administrators, benefit managers and brokers.

 

“We’re so glad that our team’s successful launch of a high quality and meaningful digital platform supported by a premium customer experience has powered continued investor confidence in our strategic direction and execution capabilities. We’re encouraged by our investors’ clear understanding of the economic pain points in the current system and our ability to enhance medicine access and affordability for everyday Americans.”

Satish Srinivasan, Founder and CEO of DiRx

 

“We’re delighted that Americans in over 40 states have already started ordering their prescription medicines from us within just our first few weeks of launch and, in keeping with our ‘medicine for all’ focus, we will continue to evolve our platform to reach more people, as we champion everyone’s right to affordable medicine,” added Simone Grapini-Goodman, Chief Marketing Officer.

 

About DiRx

DiRx is an online pharmacy that delivers savings on commonly prescribed, FDA-approved generic medicines without the need for insurance. Founded by industry experts, DiRx draws a straight line from supply to demand to streamline the path between the manufacturer and the consumer. This lowers costs and makes more medicine accessible to more people. DiRx offers a viable model for businesses and community organizations while simplifying how consumers fill, pay for and receive maintenance medicine. To learn more, visit www.DiRxHealth.com.

 

For media inquiries, please contact DiRx media relations at press@dirxhealth.com.

Contacts

Simone Grapini-Goodman, Chief Marketing Officer

Email: press@DiRxHealth.com
https://www.dirxhealth.com/press

Categories
Business Environment

Vision Solar announces Bryn H. Sherman as its newest board member representing strong audit and board governance

BLACKWOOD, N.J. — (BUSINESS WIRE) — Vision Solar, together with their current Board of Directors, has made the decision to add a new member to their governing board. The Board’s objective is to set the culture and values of the company. The board is focused on the matters of performance, ethics, integrity, legal compliance, transparency and responsiveness to shareholder and policy holder interests.


Vision Solar continues to add new board advisory with these tailored skill sets to mature their board and support the leadership and professionalism they need to take this company forward successfully, both operationally and fiscally responsible. Vision Solar wanted to ensure that their Board was diverse and sought the assistance of a special advisory firm to find an individual like Bryn Sherman that would bring that diversity and new perspective of thought and governance.

 

Bryn Sherman has served as a Principal at Offit Kurman. Sherman stood out from other candidates due to her solid knowledge of audit and board governance, professional work ethic, and her drive. Sherman has nearly three decades of experience in real estate law and has dedicated her entire career to representing clients ranging from U.S. public companies, including their board rooms, to private businesses and family-owned businesses.

 

Sherman is a member of the Maryland and District of Columbia bar. Sherman holds a BA in political science from the University of Wisconsin, Madison, and a JD from the University of Miami, Florida.

 

“I am honored to join the Vision Solar board at this rapidly growing stage in renewable energy. I am excited to join this very talented team who is poised for rapid growth and long term success.” stated by Bryn H. Sherman

 

“We’re excited to expand our board with a legal powerhouse like Bryn Sherman, our newest member, who will bring diverse expertise and strategic insight to our board,” said Jon Seibert, President and CEO of Vision Solar.

 

“We have worked diligently to ensure Vision Solar’s board and leadership represents a variety of experts from a diverse culture, advocacy group, and the newest board member is no exception.” Faraz Khan, CFO of Vision Solar

 

For any inquiries regarding this press release, please feel free to contact John Czelusniak at jczelusniak@visionsolar.com or Juliana Echavarria jechavarria@visionsolar.com

 

About Vision Solar:

Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $100 million in revenue, with significant increase in projected growth to produce 1000+ high-quality Green Jobs by 2022. To learn more, visit: https://www.visionsolar.com

Contacts

John Czelusniak

jczelusniak@visionsolar.com
or

Juliana Echavarria

jechavarria@visionsolar.com

Categories
Business Technology

CompoSecure and Roman DBDR Tech Acquisition Corp. announce closing of business combination

First Day of Trading on Nasdaq Global Market Under Ticker “CMPO” beginning December 28, 2021

 

SOMERSET, N.J. — (BUSINESS WIRE) — #banking–CompoSecure Holdings, Inc. (“CompoSecure”), a leading provider of premium financial payment cards and an emergent provider of cryptocurrency storage and security solutions, today reported the closing of its previously announced business combination with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a publicly traded special acquisition company. Roman DBDR shareholders approved the transaction at Roman DBDR’s stockholder meeting held on December 23, 2021, and the transaction was completed on December 27, 2021. The combined company is now called CompoSecure, Inc. and will begin trading on the Nasdaq Global Market at market open beginning December 28, 2021, under the ticker symbol “CMPO” for its Class A common stock and “CMPOW” for its publicly traded warrants.

 

“We are pleased to complete our business combination with Roman DBDR and begin our next chapter as a public company,” said Jon Wilk, CEO of CompoSecure. “As I stated at the beginning of this process, we have a bold vision for CompoSecure, as we deliver superior solutions to the payments, cryptocurrency, and broader digital asset marketplace. We look forward to executing our strategic objectives and believe CompoSecure is poised to accelerate its growth and capitalize on the significant opportunities to generate substantial value for all stakeholders.”

 

Dr. Donald Basile, Co-CEO and Chairman of Roman DBDR, stated, “We were attracted to CompoSecure for its proven business model, strong leadership, and exceptional products, which has completely changed the premium financial payment card industry. And now it is set to completely change the cryptocurrency storage and security solutions with its new Arculus KeyTM card, the next generation of cryptocurrency cold storage. I look forward to continuing my collaboration with Jon and the management team, helping CompoSecure strengthen and grow its position in the emergent cryptocurrency storage and security industry.”

 

About CompoSecure and Arculus

Founded in 2000, CompoSecure is a pioneer and category leader in premium payment cards and an emergent provider of cryptocurrency and digital asset storage and security solutions. The company focuses on serving the affluent customers of payment card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers secure, innovative, and durable proprietary products that implement leading-edge engineering capabilities and security. CompoSecure’s mission is to increase clients’ brand equity in the marketplace by offering products and solutions which differentiate the brands they represent, thus elevating cardholder experience. For more information, please visit www.composecure.com. ArculusTM was created with the mission to promote cryptocurrency adoption by making it safe, simple and secure for the average person to buy, swap and store cryptocurrency. With a strong background in security hardware and financial payments, the ArculusTM solution was developed to allow people to use a familiar payment card form factor to manage their cryptocurrency. For more information, please visit www.getarculus.com.

 

About Roman DBDR Tech Acquisition Corp.

Roman DBDR is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. While the company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies in the technology, media and telecom (“TMT”) industries. The company is led by its Co-Chief Executive Officers, Dr. Donald G. Basile and Dixon Doll, Jr. The Company’s experienced board of directors includes former NVCA Chairman and longtime venture capitalist Dixon Doll, Global Net Lease (NYSE: GNL) CEO James L. Nelson, former fund manager Paul Misir, investment banker and investor Arun Abraham, and entrepreneur Alan Clingman. For more information, please visit www.romandbdr.com Roman DBDR raised $236 million in its initial public offering (inclusive of underwriter’s exercise of over-allotment option) in November 2020 and is listed on Nasdaq under the symbol “DBDR”.

 

Forward-Looking Statements

Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to statements regarding Roman DBDR’s or CompoSecure’s expectations, hopes, beliefs, intentions or strategies regarding the future, including, without limitation, statements regarding: (i) the size, demand and growth potential of the markets for CompoSecure’s products and CompoSecure’s ability to serve those markets, (ii) the degree of market acceptance and adoption of CompoSecure’s products, (iii) CompoSecure’s ability to develop innovative products and compete with other companies engaged in the financial services and technology industry and (iv) CompoSecure’s ability to attract and retain clients. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of CompoSecure’s and Roman DBDR’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, a prediction or a definitive statement of fact or probability. Neither Roman DBDR nor CompoSecure gives any assurance that either CompoSecure will achieve its expectations. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CompoSecure. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond CompoSecure’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the definitive proxy statement on Schedule 14A (the “Proxy Statement”) relating to the merger filed by Roman DBDR with the U.S. Securities and Exchange Commission (the “SEC”) and other documents filed with the SEC by Roman DBDR and CompoSecure from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that none of Roman DBDR or CompoSecure presently know or that Roman DBDR or CompoSecure currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Roman DBDR’s and CompoSecure’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Roman DBDR and CompoSecure anticipate that subsequent events and developments will cause Roman DBDR’s and CompoSecure’s assessments to change. However, while Roman DBDR and CompoSecure may elect to update these forward-looking statements at some point in the future, Roman DBDR and CompoSecure specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Roman DBDR’s and CompoSecure’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Certain market data information in this Press Release is based on the estimates of CompoSecure and Roman DBDR management.

Contacts

CompoSecure Media:

Wes Robinson

626-201-2928

wrobinson@olmsteadwilliams.com

Brian Ruby

ICR for CompoSecure

(203) 682-8268

CompoSecure-PR@icrinc.com

CompoSecure Investor:

Marc Griffin

ICR for CompoSecure

(646) 277-1290

CompoSecure-IR@icrinc.com

Categories
Business Healthcare

LEO Pharma announces FDA approval of Adbry™ (tralokinumab-ldrm) as the first and only treatment specifically targeting IL-13 for adults with moderate-to-severe atopic dermatitis

  • Adbry is the first biologic launched by LEO Pharma in the United States and is expected to be available in pharmacies by February 2022.
  • Significantly more patients achieved the primary and key secondary endpoints of IGA 0/1, EASI-75, and itch as measured by NRS at Week 16 with Adbry vs placebo.1
  • There are an estimated 16.5 million adults in the U.S. living with atopic dermatitis, with approximately 6.6 million categorized as living with moderate-to-severe disease.2

 

MADISON, N.J. — (BUSINESS WIRE) — LEO Pharma Inc. announced today that the U.S. Food and Drug Administration (FDA) has approved Adbry (tralokinumab-ldrm) for the treatment of moderate-to-severe atopic dermatitis in adults 18 years or older whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable. Adbry can be used with or without topical corticosteroids.1 Adbry is the first and only FDA approved biologic that specifically binds to and inhibits the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms.1,3,4

“Today’s FDA approval of Adbry is a major milestone for LEO Pharma and for the millions of people living with moderate-to-severe atopic dermatitis who struggle to find effective control for this chronic and debilitating disease,” said Anders Kronborg, Chief Financial Officer and Acting Chief Executive Officer of LEO Pharma A/S. “As our first biologic in the U.S., Adbry signifies important progress in our mission of advancing the standard of care in medical dermatology.”

 

The approval of Adbry is based on safety and efficacy results from the ECZTRA 1, 2 and ECZTRA 3 pivotal Phase 3 trials, which included nearly 2,000 adult patients with moderate-to-severe atopic dermatitis.1 Safety data was evaluated from a pool of five randomized, double-blind, placebo-controlled trials, including ECZTRA 1, 2 and ECZTRA 3, a dose-finding trial, and a vaccine response trial.1

 

In all three pivotal trials, Adbry 300 mg every other week alone or with topical corticosteroids (TCS) as needed met the primary endpoints at Week 16 as measured by an Investigator Global Assessment score of clear or almost clear skin (IGA 0/1) and/or at least a 75% improvement in the Eczema Area and Severity Index score (EASI-75), and the secondary endpoint of reduction of weekly average Worst Daily Pruritus NRS of ≥ 4 points on the 11-point itch NRS.1

 

In clinical trials, the safety of Adbry was well established with an overall frequency of adverse events comparable with placebo.1 The most common adverse events (incidence ≥1% and greater than placebo) were upper respiratory tract infections (mainly reported as common cold), conjunctivitis, injection site reactions, and eosinophilia.1

 

“Atopic dermatitis can be severe and unpredictable, which makes it not only challenging for patients to achieve long-term disease control, but also for clinicians to treat, since there are limited treatment options for this burdensome chronic skin disease,” said Jonathan Silverberg, MD, PhD, MPH, Associate Professor of Dermatology at George Washington University School of Medicine and Health Sciences, and tralokinumab clinical trial investigator. “Adbry will be an important addition to our therapeutic armamentarium as a treatment designed to specifically target and neutralize the IL-13 cytokine, thereby, helping patients manage their atopic dermatitis.”

 

Adbry will be available in a 150 mg/mL prefilled syringe for subcutaneous injection with an initial dose of 600 mg followed by 300 mg every other week. Adbry can be used with or without TCS. 1 A dosage of 300 mg every four weeks may be considered for patients below 100 kg who achieve clear or almost clear skin after 16 weeks of treatment.1

 

To help eligible patients have access to Adbry, LEO Pharma will introduce the AdbryTM AdvocateTM Program to support U.S. patients at diagnosis and throughout treatment with Adbry. Details about the Adbry Advocate Program will be available at 1-844-MYADBRY (1-844-692-3279) or www.ADBRY.com.

 

“For people living with atopic dermatitis, the experience goes beyond the skin, often impacting important psychosocial aspects of their life,” said Julie Block, President and CEO of the National Eczema Association. “It’s exciting to see a new targeted therapeutic option for adult patients living with moderate-to-severe atopic dermatitis. Therapeutic advances like this provide much needed hope for those who may have spent years struggling to find an effective therapy to alleviate the burden of this disease.”

 

The FDA approval marks the fifth global regulatory approval for tralokinumab in 2021. Tralokinumab is marketed outside of the U.S. under the tradename Adtralza® and is currently approved in the European Union, Great Britain, Canada and the United Arab Emirates.

 

About the pivotal ECZTRA 1, 2 and ECZTRA 3 Trials

ECZTRA 1 and ECZTRA 2 (ECZema TRAlokinumab trials Nos. 1 and 2) were randomized, double-blind, placebo-controlled, multinational 52-week trials, which included 802 and 794 adult patients, respectively, to evaluate the efficacy and safety of Adbry (300 mg every other week) as monotherapy in adults with moderate-to-severe atopic dermatitis who were candidates for systemic therapy.5

 

  • At Week 16, for the ECZTRA 1 and 2 monotherapy trials, respectively, 16% and 21% of patients treated with Adbry 300 mg every other week achieved clear or almost clear skin (IGA 0/1) vs 7% and 9% with placebo.1
  • At Week 16, for ECZTRA 1 and 2, respectively, 25% and 33% of patients treated with Adbry 300 mg every other week achieved an improvement of 75% or more in the Eczema Area and Severity Index score (EASI-75) vs 13% and 10% with placebo.1
  • Additionally, at Week 16, for ECZTRA 1 and 2, respectively, 20% and 25% of patients treated with Adbry 300 mg every other week achieved a reduction of ≥ 4 points in the weekly average Worst Daily Pruritus NRS vs 10% and 9% with placebo.1
  • At 52 weeks, 51% and 60% of patients who responded at Week 16 maintained IGA 0/1 response with Adbry 300 mg every other week in ECZTRA 1 and 2, respectively.1
  • At 52 weeks, 60% and 57% of patients who responded at Week 16 maintained EASI-75 response with Adbry 300 mg every other week in ECZTRA 1 and 2, respectively.1

 

ECZTRA 3 (ECZema TRAlokinumab trial No. 3) was a double-blind, randomized, placebo-controlled, multinational 32-week trial, which included 380 adult patients, to evaluate the efficacy and safety of Adbry (300 mg) in combination with TCS as needed in adults with moderate-to-severe atopic dermatitis who are candidates for systemic therapy.6

 

In the ECZTRA 3 Adbry plus TCS as needed combination trial:

 

  • At Week 16, 38% of patients treated with Adbry 300 mg every other week plus TCS achieved clear or almost clear skin (IGA 0/1) vs 27% with placebo plus TCS.1
  • At Week 16, 56% of patients treated with Adbry 300 mg every other week plus TCS achieved an improvement of 75% or more in the Eczema Area and Severity Index score (EASI-75) vs 37% with placebo plus TCS.1
  • Further, at Week 16, 46% of patients treated with Adbry 300 mg every other week plus TCS achieved a reduction of ≥4 points in the weekly average Worst Daily Pruritus NRS vs 35% with placebo plus TCS.1
  • At 32 weeks, 89% and 92% of patients who responded at Week 16 maintained response (IGA 0/1 and EASI-75, respectively) with Adbry 300 mg every other week.1

 

About atopic dermatitis

Atopic dermatitis is a chronic, inflammatory, skin disease characterized by intense itch and eczematous lesions.7 Atopic dermatitis is the result of skin barrier dysfunction and immune dysregulation, leading to chronic inflammation.8 Type 2 cytokines, including IL-13, play a central role in the key aspects of atopic dermatitis pathophysiology.3

 

About Adbry (tralokinumab-ldrm)

Adbry (tralokinumab-ldrm) is a human monoclonal antibody developed to specifically neutralize the IL-13 cytokine, which plays a key role in the immune and inflammatory processes underlying atopic dermatitis signs and symptoms. Adbry specifically binds to the IL-13 cytokine, thereby inhibiting interaction with the IL-13 receptor α1 and α2 subunits (IL-13Rα1 and IL-13Rα2).3,4

 

INDICATION AND IMPORTANT SAFETY INFORMATION

What is ADBRY?

  • ADBRYTM (tralokinumab-ldrm) injection is a prescription medicine used to treat adults with moderate-to-severe atopic dermatitis (eczema) that is not well controlled with prescription therapies used on the skin (topical), or who cannot use topical therapies. ADBRY can be used with or without topical corticosteroids.
  • It is not known if ADBRY is safe and effective in children.

 

Do not use ADBRY if you are allergic to tralokinumab or to any of its ingredients.

What should I discuss with my healthcare provider before starting ADBRY?

Tell your healthcare provider about all your medical conditions, including if you:

  • have eye problems.
  • have a parasitic (helminth) infection.
  • are scheduled to receive any vaccinations. You should not receive a “live vaccine” if you are treated with ADBRY.
  • are pregnant or plan to become pregnant. It is not known whether ADBRY will harm your unborn baby.
  • are breastfeeding or plan to breastfeed. It is not known whether ADBRY passes into your breast milk and if it can harm your baby.

 

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

 

How should I use ADBRY?

  • See the detailed “Instructions for Use” that comes with ADBRY for information on how to prepare and inject ADBRY and how to properly store and throw away (dispose of) used ADBRY prefilled syringes.
  • Use ADBRY exactly as prescribed by your healthcare provider.
  • Your healthcare provider will tell you how much ADBRY to inject and when to inject it.
  • ADBRY comes as a single-dose (150 mg) prefilled syringe with needle guard.
  • ADBRY is given as an injection under the skin (subcutaneous injection).
  • If your healthcare provider decides that you or a caregiver can give the injection of ADBRY, you or your caregiver should receive training on the right way to prepare and inject ADBRY. Do not try to inject ADBRY until you have been shown the right way by your healthcare provider.
  • If you miss a dose, inject the missed dose as soon as possible, then continue with your next dose at your regular scheduled time.
  • If you inject more ADBRY than prescribed, call Poison Control at 1-800-222-1222.
  • Your healthcare provider may prescribe other medicines to use with ADBRY. Use the other prescribed medicines exactly as your healthcare provider tells you to.

 

What are the possible side effects of ADBRY?

ADBRY can cause serious side effects including:

  • Allergic reactions (hypersensitivity), including a severe reaction known as anaphylaxis. Stop using ADBRY and tell your healthcare provider or get emergency help right away if you get any of the following symptoms:
    • breathing problems
    • itching
    • skin rash
    • swelling of the face, mouth, and tongue
    • fainting, dizziness, feeling lightheaded (low blood pressure)
    • hives
  • Eye problems. Tell your healthcare provider if you have any worsening eye problems, including eye pain or changes in vision.

 

The most common side effects of ADBRY include:

  • Eye and eyelid inflammation, including redness, swelling, and itching
  • Injection site reactions
  • High count of a certain white blood cell (eosinophilia)

These are not all the possible side effects of ADBRY. Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088.

 

Please click here for full Prescribing Information, including Patient Information and Instructions for Use.

About LEO Pharma

LEO Pharma helps people achieve healthy skin. The company is a leader in medical dermatology with a robust R&D pipeline, a wide range of therapies and a pioneering spirit. Founded in 1908 and majority owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, setting new standards of care for people with skin conditions. LEO Pharma is headquartered in Denmark with a global team of 6,000 people, serving 93 million patients in 130 countries. In 2020, the company generated net sales of DKK 10,133 million.

 

For more information, please visit www.LEO-Pharma.us.

Multimedia gallery available at LEOPharmaUSMedia.com.

Dr. Silverberg is a paid consultant for LEO Pharma.

 

References

  1. Adbry™ (tralokinumab-ldrm) Prescribing Information. LEO Pharma; December 2021.
  2. Chiesa Fuxench ZC, Block JK, Boguniewicz M, et al. Atopic Dermatitis in America Study: A Cross-Sectional Study Examining the Prevalence and Disease Burden of Atopic Dermatitis in the US Adult Population. J Invest Dermatol. 2019;139(3):583-590.
  3. Bieber T. Interleukin-13: targeting an underestimated cytokine in atopic dermatitis. Allergy. 2020; 75:54-62.
  4. Popovic B, et al.Structural characterisation reveals mechanism of IL-13-neutralising monoclonal antibody tralokinumab as inhibition of binding to IL-13Rα1 and IL-13Rα2. J Mol Biol. 2017; 429:208–19.
  5. Wollenberg A, et al. Tralokinumab for moderate‐to‐severe atopic dermatitis: results from two 52‐week, randomized, double‐blind, multicentre, placebo-controlled phase III trials (ECZTRA 1 and ECZTRA 2). Br J Dermatol. 2021. Mar;184(3):437-449.
  6. Silverberg JI, et al. Tralokinumab plus topical corticosteroids for the treatment of moderate‐to‐severe atopic dermatitis: results from the double‐blind, randomized, multicentre, placebo-controlled phase III ECZTRA 3 trial. Br J Dermatol. 2021. Mar;184(3):450-463.
  7. Weidinger S, et al. Atopic dermatitis. Lancet. 2016;387:1109-1122.
  8. Boguniewicz M, et al. Atopic dermatitis: a disease of altered skin barrier and immune dysregulation. Immunol Rev 2011;242(1):233-46.

MAT-42633 December 2021

Contacts

David Patti

LEO Pharma, Global Product Communications

973.796.7706

DAPAI@leo-pharma.com

Categories
Business Local News

Church and Dwight completes purchase of TheraBreath®

EWING, N.J. — (BUSINESS WIRE) — Church & Dwight Co., Inc. (NYSE:CHD) has completed its previously announced acquisition of TheraBreath®, the #2 brand in the alcohol-free mouthwash category in the United States.

 

The transaction was completed under the original terms announced on November 29, 2021, which called for Church & Dwight to pay $580 million in cash at closing.

 

“Oral care is important to us strategically,” said Matthew T. Farrell, Church & Dwight Chief Executive Officer. “TheraBreath® will be the Company’s 14th power brand and represents a powerful addition to our existing oral care portfolio which includes ARM & HAMMER® toothpaste, SPINBRUSH® battery-operated toothbrushes, ORAJEL® oral analgesics and WATERPIK® water flossers. The TheraBreath® brand is a problem/solution product and one of the fastest growing brands in the mouthwash category. This acquisition gives Church and Dwight a strong position in a growing category with tailwinds as the brand skews towards younger consumers and consistently has a high level of brand loyalty and repeat purchase.”

 

Church & Dwight Co., Inc., founded in 1846, is the leading U.S. producer of sodium bicarbonate, popularly known as baking soda. The Company manufactures and markets a wide range of personal care, household and specialty products under recognized brand names such as ARM & HAMMER®, TROJAN®, OXICLEAN®, SPINBRUSH®, FIRST RESPONSE®, NAIR®, ORAJEL®, XTRA®, L’IL CRITTERS® and VITAFUSION®, BATISTE®, WATERPIK®, ZICAM®, FLAWLESS® and THERABREATH®. These 14 key brands represent approximately 85% of the Company’s product sales. For more information, visit the Company’s website.

Contacts

Rick Dierker

Chief Financial Officer

609-806-1900

Categories
Business Local News

Billtrust to participate in Needham’s 24th Annual Virtual Growth Conference

LAWRENCEVILLE, N.J. — (BUSINESS WIRE) — BTRS Holdings Inc. (“Billtrust” or “the Company”) (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, today announced that members of the Company’s management team will be participating in Needham’s 24th Annual Virtual Growth Conference on Monday, January 10th, 2022 at 3:30 pm ET.

 

Live webcasts and replay of the presentation will be available on the Company’s investor relations website at https://www.billtrust.com/about/investors.

 

About BTRS Holdings

Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections.

 

For more information, visit Billtrust.com.

Contacts

Investor Contact:

John T. Williams

IR@billtrust.com

Media Contact:

Paul Accardo

paccardo@billtrust.com

Categories
Business Healthcare

Merck and Ridgeback’s molnupiravir receives U.S. FDA Emergency Use Authorization for the treatment of high-risk adults with mild to moderate COVID-19

The Companies Are Committed To Providing Timely Access to Molnupiravir Through Comprehensive Supply and Access Approach

 

KENILWORTH, N.J. & MIAMI — (BUSINESS WIRE) — $MRK #MRK–Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Ridgeback Biotherapeutics today announced that the U.S. Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) for molnupiravir, an investigational oral antiviral (MK-4482, EIDD-2801). Molnupiravir has not been approved, but has been authorized for emergency use by the FDA under an EUA to treat mild to moderate coronavirus disease 2019 (COVID-19) in adults with positive results of direct SARS-CoV-2 viral testing, and who are at high risk for progression to severe COVID-19, including hospitalization or death, and for whom alternative COVID-19 treatment options authorized by the FDA are not accessible or clinically appropriate. Molnupiravir is not authorized for use in patients who are less than 18 years of age, for initiation of treatment in patients hospitalized due to COVID-19, for use for longer than five consecutive days, or for pre-exposure or post-exposure prophylaxis for prevention of COVID-19.

The FDA Emergency Use Authorization of molnupiravir is an important milestone in the fight against COVID-19, and adds to Merck’s legacy of bringing forward innovative medicines that both address the world’s greatest health threats and help save lives. Because we recognized the promise of molnupiravir early, Merck invested at risk and we are executing an unprecedented global access strategy so that molnupiravir, now authorized, can be available to patients here in the U.S. and all around the world more quickly and more equitably than has ever been accomplished before,” said Robert M. Davis, chief executive officer and president, Merck.

 

Molnupiravir should be administered as soon as possible after a diagnosis of COVID-19 has been made, and within five days of symptom onset. The recommended dose for molnupiravir is 800 mg (four 200 mg capsules) taken orally every 12 hours for five days, with or without food. Completion of the full five-day treatment course is important to maximize viral clearance and minimize transmission of SARS-CoV-2.

 

Molnupiravir is not recommended for use in patients who are pregnant. Based on findings from animal reproduction studies, molnupiravir may cause fetal harm when administered to pregnant individuals. There are no available human data on the use of molnupiravir in pregnant individuals to evaluate the risk of major birth defects, miscarriage or adverse maternal or fetal outcomes. Before initiating treatment with molnupiravir, it should be assessed whether an individual of childbearing potential is pregnant or not, if clinically indicated. Females of childbearing potential should use a reliable method of contraception correctly and consistently, as applicable, for the duration of treatment and for four days after the last dose of molnupiravir. Males of reproductive potential who are sexually active with females of childbearing potential should use a reliable method of contraception correctly and consistently during treatment and for at least three months after the last dose. There is a pregnancy surveillance program that monitors pregnancy outcomes in individuals exposed to molnupiravir during pregnancy. Patients exposed to molnupiravir during pregnancy should report the exposure by contacting Merck by phone at 1-877-888-4231, or online at pregnancyreporting.msd.com. For more information, see “Selected Safety Information” below.

 

The authorization is based on the Phase 3 MOVe-OUT trial, which evaluated molnupiravir 800 mg twice-daily in non-hospitalized adult patients who were unvaccinated against SARS-CoV-2, had laboratory-confirmed SARS-CoV-2 infection, symptom onset within five days of study randomization, and at least one risk factor associated with poor disease outcomes (e.g., heart disease, diabetes).

 

In analyses from all randomized patients (n=1433), molnupiravir reduced the risk of hospitalization or death: 9.7% (68/699) of patients in the placebo group were hospitalized or died compared to 6.8% (48/709) of patients who received molnupiravir, for an absolute risk reduction of 3.0% (95% confidence interval [CI]: 0.1, 5.9). Nine deaths were reported in the placebo group, and one in the molnupiravir group.

 

The determination of primary efficacy was based on a planned interim analysis of 762 subjects. At the interim analysis, treatment with molnupiravir significantly reduced hospitalizations and death through Day 29 following randomization: 14.1% (53/377) of patients in the placebo group were hospitalized or died, compared to 7.3% (28/385) of patients who received molnupiravir. The absolute risk reduction between the molnupiravir and the placebo arm was 6.8 percentage points (95% CI: 2.4, 11.3; p=0.0024).

 

In the clinical study, the most common adverse reactions for molnupiravir (incidence ≥1%) were diarrhea (2% for molnupiravir, 2% for placebo), nausea (1% for molnupiravir, 1% for placebo) and dizziness (1% for molnupiravir, 1% for placebo). Discontinuation of study intervention due to an adverse event (AE) occurred in 1% of subjects receiving molnupiravir and 3% of subjects receiving placebo. Serious AEs occurred in 7% of subjects receiving molnupiravir and 10% receiving placebo; most serious AEs were COVID-19 related.

 

Based on the strong science behind molnupiravir – a single oral medicine that interrupts replication of the SARS-CoV-2 virus, with data demonstrating a significant reduction in the risk of hospitalizations and deaths – molnupiravir has the potential to become an important tool for healthcare professionals and appropriate patients,” said Dr. Dean Y. Li, president, Merck Research Laboratories. “We are immensely grateful to all of our collaborators, including trial patients and clinical investigators, for their important contributions to this milestone.”

 

Merck anticipates that it will begin shipping molnupiravir to AmerisourceBergen, the sole distributor of molnupiravir, within days. As previously announced, Merck entered into a procurement agreement with the U.S. Government under which, to date, the company has agreed to supply approximately 3.1 million courses of molnupiravir to the U.S. Government, upon EUA from the FDA.

 

Before the virus that caused this tragic pandemic had a name, the team at Ridgeback saw the need for urgent action. We joined with George Painter, Drug Research Innovations at Emory (DRIVE) and Merck with the hope of taking molnupiravir from a dream to the reality we see today,” said Wendy Holman, chief executive officer, Ridgeback Biotherapeutics. “There is now a prescription oral antiviral, molnupiravir, for use by appropriate high-risk patients, that can be taken at home, as soon as possible after an appropriate patient tests positive for COVID-19, to help reduce the risk of hospitalization or death. It’s an oral therapeutic option with no known drug-drug interactions and without required dose modifications for those with impaired kidney or liver function. We are thrilled this tremendous global collaboration between Ridgeback, Merck and DRIVE has fulfilled our hopes of bringing forward an oral medicine to help keep people out of the hospital and alive.”

 

Molnupiravir is also being evaluated for post-exposure prophylaxis in MOVe-AHEAD, a global, multicenter, randomized, double-blind, placebo-controlled Phase 3 study, which is evaluating the efficacy and safety of molnupiravir in preventing the spread of COVID-19 within households. Molnupiravir is not authorized for pre-exposure or post-exposure prophylaxis for prevention of COVID-19.

 

An EUA is an FDA authorization for the emergency use of an unapproved product or unapproved use of an approved product in the U.S. under certain circumstances, including a public health emergency. Molnupiravir is an investigational treatment and is still under review by the FDA.

 

Recently, the FDA Antimicrobial Drugs Advisory Committee (AMDAC) voted that the known and potential benefits of molnupiravir outweigh its known and potential risks for the treatment of mild to moderate COVID-19 in high risk adult patients who are within five days of symptom onset. Molnupiravir has received conditional marketing authorization in the United Kingdom for the treatment of mild to moderate COVID-19 in adults with a positive SARS-CoV-2 diagnostic test and who have at least one risk factor for developing severe illness. The European Medicines Agency (EMA) issued a positive scientific opinion for molnupiravir under Article 5.3 Regulation 726/2004, which is intended to support national decision-making on the possible use of molnupiravir prior to marketing authorization. Applications to other regulatory bodies worldwide are underway.

 

About Merck’s Global Efforts to Accelerate Access to Molnupiravir Following Regulatory Authorizations or Approvals

Global access has been a priority for Merck and Ridgeback since the inception of their molnupiravir collaboration. The companies are committed to providing timely access to molnupiravir globally through our comprehensive supply and access approach, which includes investing at risk to produce millions of courses of therapy; tiered pricing based on the ability of governments to finance health care; entering into supply agreements with governments; and granting voluntary licenses to generic manufacturers and to the Medicines Patent Pool to make generic molnupiravir available in more than 100 low- and middle-income countries following local regulatory authorizations or approvals.

 

Supply: In anticipation of the results from MOVe-OUT and the potential for regulatory authorization or approval, Merck has been producing molnupiravir at risk and expects to produce 10 million courses of treatment by the end of 2021, with at least 20 million courses to be produced in 2022.

 

Supply agreements: Merck entered into a procurement agreement with the U.S. Government under which the company will supply approximately 3.1 million courses of molnupiravir to the U.S. Government, upon Emergency Use Authorization or approval from the U.S. Food and Drug Administration. Merck has entered into advance purchase and supply agreements for molnupiravir with the governments of over 30 countries worldwide, including Australia, Canada, Korea, Japan, Thailand, United Kingdom and United States, pending regulatory authorizations, and is currently in discussions with additional governments. Merck plans to implement a tiered pricing approach based on World Bank country income criteria to reflect countries’ relative ability to finance their health response to the pandemic. In the United States, the purchase was funded with federal funds from the Biomedical Advanced Research and Development Authority, part of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response, under contract number W911QY-21-C-0031.

 

Voluntary licenses: As part of its commitment to widespread global access, Merck previously announced that it has entered into a licensing agreement with the Medicines Patent Pool to increase broad access for molnupiravir in low- and middle-income countries. Additionally, Merck previously announced that the company has entered into non-exclusive voluntary licensing agreements for molnupiravir with established generic manufacturers to accelerate availability of molnupiravir in more than 100 low- and middle-income countries following approvals or emergency authorization by local regulatory agencies.

 

Merck continues to discuss additional measures and collaborations to accelerate broad, global access to molnupiravir.

 

Authorized Use of Molnupiravir

The U.S. Food and Drug Administration (FDA) has issued an EUA for the emergency use of the unapproved molnupiravir, a nucleoside analogue that inhibits SARS-CoV-2 replication by viral mutagenesis, for the treatment of mild to moderate coronavirus disease 2019 (COVID-19) in adults with positive results of direct SARS-CoV-2 viral testing, and who are at high risk for progression to severe COVID-19, including hospitalization or death, and for whom alternative COVID-19 treatment options authorized by FDA are not accessible or clinically appropriate. Molnupiravir is not FDA-approved for any use including for use for the treatment of COVID-19. Prior to initiating treatment with molnupiravir, carefully consider the known and potential risks and benefits.

 

Molnupiravir is authorized only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of molnupiravir under section 564(b)(1) of the Federal, Food, Drug, and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner.

 

Molnupiravir is not authorized for use in patients less than 18 years of age or who are hospitalized due to COVID-19. Benefit of treatment with molnupiravir has not been observed in subjects when treatment was initiated after hospitalization due to COVID-19. Molnupiravir is not authorized for use for longer than five consecutive days. Molnupiravir is not authorized for pre-exposure or post-exposure prophylaxis for prevention of COVID-19. Molnupiravir may only be prescribed for an individual patient by physicians, advanced practice registered nurses, and physician assistants that are licensed or authorized under state law to prescribe drugs in the therapeutic class to which molnupiravir belongs (i.e., anti-infectives).

 

Selected Safety Information for Molnupiravir

Contraindications

No contraindications have been identified based on the limited available data on the emergency use of molnupiravir authorized under this EUA.

 

Warnings and Precautions

There are limited clinical data available for molnupiravir. Serious and unexpected adverse events may occur that have not been previously reported with molnupiravir use.

 

Molnupiravir is not recommended for use during pregnancy. Based on findings from animal reproduction studies, molnupiravir may cause fetal harm when administered to pregnant individuals. There are no available human data on the use of molnupiravir in pregnant individuals to evaluate the risk of major birth defects, miscarriage or adverse maternal or fetal outcomes.

 

Molnupiravir is authorized to be prescribed to a pregnant individual only after the healthcare provider has determined that the benefits would outweigh the risks for that individual patient. If the decision is made to use molnupiravir during pregnancy, the prescribing healthcare provider must document that the that the known and potential benefits and the potential risks of using molnupiravir during pregnancy were communicated to the pregnant individual.

 

There is a pregnancy surveillance program that monitors pregnancy outcomes in individuals exposed to molnupiravir during pregnancy. The prescribing healthcare provider must document that a pregnant individual was made aware of Merck’s pregnancy surveillance program at 1-877-888-4231 or pregnancyreporting.msd.com. If the pregnant individual agrees to participate in the pregnancy surveillance program and allows the prescribing healthcare provider to disclose patient specific information to Merck, the prescribing healthcare provider must provide the patient’s name and contact information to Merck. Pregnant individuals exposed to molnupiravir can also report the exposure by contacting Merck at 1-877-888-4231 or pregnancyreporting.msd.com.

 

Advise individuals of childbearing potential of the potential risk to a fetus and to use an effective method of contraception correctly and consistently during treatment with molnupiravir and for 4 days after the final dose.

 

Prior to initiating treatment with molnupiravir, assess whether an individual of childbearing potential is pregnant or not, if clinically indicated.

 

Molnupiravir is not authorized for use in patients less than 18 years of age because it may affect bone and cartilage growth. The safety and efficacy of molnupiravir have not been established in pediatric patients.

 

Adverse Reactions

The most common adverse reactions occurring in ≥1% of subjects in the molnupiravir treatment group in the Phase 3 double-blind MOVe-OUT study were diarrhea (2% versus placebo at 2%), nausea (1% versus placebo at 1%), and dizziness (1% versus placebo at 1%) all of which were Grade 1 (mild) or Grade 2 (moderate).

 

Serious adverse events occurred in 7% of subjects receiving molnupiravir and 10% receiving placebo; most serious adverse events were COVID-19 related. Adverse events leading to death occurred in 2 (<1%) of the subjects receiving molnupiravir and 12 (2%) of subjects receiving placebo.

 

Drug Interactions

No drug interactions have been identified based on the limited available data on the emergency use of molnupiravir. No clinical drug-drug interaction trials of molnupiravir with concomitant medications, including other treatments for mild to moderate COVID-19, have been conducted.

 

Pregnancy/Breastfeeding

There are no data on the presence of molnupiravir or its metabolites in human milk. It is unknown whether molnupiravir has an effect on the breastfed infant or effects on milk production. Based on the potential for adverse reactions in the infant from molnupiravir, breastfeeding is not recommended during treatment with molnupiravir and for 4 days after the final dose. A lactating individual may consider interrupting breastfeeding and may consider pumping and discarding breast milk during treatment and for 4 days after the last dose of molnupiravir.

 

Males of Reproductive Potential

Nonclinical studies to fully assess the potential for molnupiravir to affect offspring of treated males have not been completed. Advise sexually active individuals with partners of childbearing potential to use a reliable method of contraception correctly and consistently during treatment and for at least 3 months after last dose of molnupiravir. The risk beyond three months after the last dose of molnupiravir is unknown.

 

Required Reporting for Serious Adverse Events and Medication Errors

The prescribing healthcare provider and/or the provider’s designee are/is responsible for mandatory reporting of all serious adverse events and medication errors potentially related to molnupiravir within 7 calendar days from the healthcare provider’s awareness of the event.

 

Submit adverse event and medication error reports, using FDA Form 3500, to FDA MedWatch using one of the following methods:

 

 

In addition, please provide a copy of all FDA MedWatch forms to:

 

Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, NJ USA by:

Fax: 215-616-5677

E-mail: dpoc.usa@merck.com

 

About Molnupiravir

Molnupiravir (MK-4482 and EIDD-2801) is an investigational, orally administered nucleoside analogue that inhibits replication of SARS-CoV-2, the causative agent of COVID-19. Merck and Ridgeback’s “orange COVID-19 pill” is a Swedish Orange opaque capsule with the Merck corporate logo and “82” printed in white ink, available in certain markets outside of the U.S. as LAGEVRIO®.

 

Results from the Phase 3 MOVe-OUT study demonstrated the efficacy benefit of molnupiravir treatment was generally consistent across patients infected with SARS-CoV-2 variants of concern, Delta, Gamma and Mu. Preliminary preclinical data has shown that molnupiravir has antiviral activity against the newly identified variant, Omicron (B1.1.529). Molnupiravir has yet to be evaluated against Omicron in clinical studies.

 

Molnupiravir was invented at Emory University. Drug Innovation Ventures at Emory (DRIVE), LLC, which was formed by Emory to develop early-stage drug candidates for viral diseases of global concern, advanced molnupiravir through IND submission. Emory/DRIVE received some research funding from the U.S. Department of Defense and the U.S. National Institutes of Health. Molnupiravir is being developed by Merck in collaboration with Ridgeback Biotherapeutics. Ridgeback received an upfront payment from Merck and also is eligible to receive contingent payments dependent upon the achievement of certain developmental and regulatory approval milestones. Any profits from the collaboration will be split between the partners equally. Since licensed by Ridgeback, all funds used for the development of molnupiravir have been provided by Merck and Ridgeback.

 

Please visit the Merck media library for molnupiravir images and b-roll.

 

About Ridgeback Biotherapeutics

Headquartered in Miami, Florida, Ridgeback Biotherapeutics LP is a biotechnology company focused on emerging infectious diseases. Ridgeback markets Ebanga™ for the treatment of Ebola and has a late-stage development pipeline which includes molnupiravir for the treatment of COVID-19. The team at Ridgeback is dedicated to developing life-saving and life-changing solutions for patients and diseases that need champions as well as providing global access to these medicines. In line with Ridgeback’s mission for equitable global access, all Ridgeback services and treatment for Ebola patients in Africa are delivered free of charge.

 

About Merck

For over 130 years, Merck, known as MSD outside the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our mission to save and improve lives. We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world. For more information, visit www.merck.com and connect with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.

 

Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA.

This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

 

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

Contacts

Media:

Melissa Moody

(215) 407-3536

Courtney Ronaldo

(908) 740-6132

Ridgeback Media:

Chrissy Carvalho

Chrissy@goldin.com

Investors:

Peter Dannenbaum

(908) 740-1037

Raychel Kruper

(908) 740-2107

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