MTEM Molecular Templates Inc.

5.99
-0.21  -3%
Previous Close 6.2
Open 6.22
52 Week Low 5.7
52 Week High 15.19
Market Cap $336,292,976
Shares 56,142,400
Float 28,015,505
Enterprise Value $198,909,880
Volume 751,451
Av. Daily Volume 193,744
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Upcoming Catalysts

Drug Stage Catalyst Date
MT-5111
HER2-positive solid tumors
Phase 1
Phase 1
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TAK-169 (CD38 ETB)
Multiple Myeloma
Phase 1
Phase 1
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MT-6402
Solid tumors
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
MT-3724
Relapsed/refractory diffuse large B-cell lymphoma (DLBCL)
Phase 2
Phase 2
Development to be discontinued - April 5, 2021.
Tarloxotinib
Cancer - Recurrent or Metastatic Squamous Cell Carcinomas of the Head and Neck or Skin
Phase 2
Phase 2
Development discontinued due to poor data - September 29, 2016.
Evofosfamide MAESTRO
Cancer - Pancreatic
Phase 3
Phase 3
Phase 3 endpoints not met
Evofosfamide
Cancer - soft tissue sarcoma (406 trial)
Phase 3
Phase 3
Phase 3 endpoints not met
Evofosfamide
Cancer - second line NSCLC
Phase 2
Phase 2
Independent Data Safety Monitoring Board conducted unlikely to reach primary endpoint - trial closed
Tarloxotinib
Cancer - mutant EGFR-positive, T790M-negative advanced non-small cell lung cancer
Phase 2
Phase 2
Development discontinued due to poor data - September 29, 2016.

Latest News

  1. AUSTIN, Texas, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates, " or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary targeted biologic therapeutics, engineered toxin bodies (ETBs), today reported financial results for the second quarter of 2021.

    "We continue to make progress on advancing our wholly owned pipeline of next-generation ETBs and our existing partnerships. We reached an important milestone recently with initiation of clinical development of MT-6402 (targeting PD-L1 via dual mechanisms) which is the first of our third generation ETBs to enter the clinic," said Eric Poma, Ph.D., Molecular Templates' Chief Executive and Scientific…

    AUSTIN, Texas, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates, " or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary targeted biologic therapeutics, engineered toxin bodies (ETBs), today reported financial results for the second quarter of 2021.

    "We continue to make progress on advancing our wholly owned pipeline of next-generation ETBs and our existing partnerships. We reached an important milestone recently with initiation of clinical development of MT-6402 (targeting PD-L1 via dual mechanisms) which is the first of our third generation ETBs to enter the clinic," said Eric Poma, Ph.D., Molecular Templates' Chief Executive and Scientific Officer. "With regard to TAK-169, we are now looking forward to continuing clinical development, having assumed full rights to this asset from Takeda. We expect the second half of 2021 to be busy, with clinical data anticipated on MT-5111, TAK-169, and MT-6402 as well as further progress on our earlier stage programs."

    Company Highlights and Upcoming Milestones

    Corporate

    • On August 4, 2021, MTEM assumed full rights to TAK-169 from its former co-development partner, Takeda, including full control of TAK-169 clinical development.
    • On April 5, 2021, MTEM announced the decision to discontinue development of MT-3724, MTEM's only first-generation ETB. MTEM will focus on the clinical development of next-generation ETBs MT-5111, TAK-169, and MT-6402, as well as advancing next-generation preclinical ETB candidates against targets including CTLA-4, CD20, SLAMF-7, CD45, TROP2 and TIGIT.
    • MTEM had three presentations at the American Association for Cancer Research (AACR) Annual Meeting 2021, which took place virtually from April 10-15, 2021:
      • MT-5111 (interim Phase 1 data as of December 2020), abstract CT130, titled "Phase 1 study of the novel immunotoxin MT-5111 in patients with HER-2+tumors."
      • MT-6402 (preclinical data), abstract 1628, titled "Engineered toxin bodies targeting PD-L1 to alter tumor immunophenotypes and deliver broad antigenic diversity and patient coverage."
      • CTLA-4 ETB (preclinical data), abstract 1627, titled "Preclinical characterization of a novel CTLA-4-targeted ETB for direct Treg depletion."
    • MTEM provided a corporate update and participated in 1-on-1 investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference, which took place July 13-14, 2021.

    MT-5111 (HER2 ETB)

    • The Phase 1 study of MT-5111 in HER2-positive cancers is ongoing with multiple sites open for enrollment. Details of the study were presented at AACR in April.
    • The HER2-positive breast cancer expansion cohort is planned to begin in 3Q21 at a dose of 10 mcg/kg (anticipated to be a therapeutic dose level), pending adequate safety data. Dose escalation will continue to determine the recommended Phase 2 dose while the breast cancer expansion cohort collects efficacy and safety data.
    • Additional data from both the dose escalation portion of the study and the metastatic breast cancer dose expansion cohort are expected in 4Q21.

    TAK-169 (CD38 ETB)

    • On August 4, 2021, MTEM assumed full rights to TAK-169 from its former co-development partner, Takeda, including full control of TAK-169 clinical development, per the terms of the terminated collaboration agreement with Takeda. MTEM will continue conducting the ongoing Phase 1 study for TAK-169 in relapsed/refractory multiple myeloma. This study, which started dosing in February 2020, had a temporary pause in the activation of new study sites and new patient enrollment (along with most of Takeda's other early-stage studies) due to COVID-19 and was re-initiated in 4Q20.
    • As previously disclosed, Takeda had enrolled and treated four subjects in the Phase 1 study. Pharmacodynamic activity was noted in the subjects, all treated at the starting dose of 50 mcg/kg. Clearance of natural killer (NK) cells in peripheral blood was observed in all subjects with a maximal reduction of peripheral NK cells of 56%, 85%, 88%, and 92%, respectively, after the first dose. The subject with 56% reduction in NK cells exhibited a low percentage of CD38+ NK cells. These values appear comparable to the reported maximal peripheral NK clearance seen with CD38-targeting antibodies at receptor-saturating doses. The geometric mean of Cmax in these four subjects appears lower than the predicted EC50 observed in patient-derived ex vivo cell-kill assays but above in vitro EC50 values in multiple myeloma cell-lines.
    • MTEM expects to provide an update on the Phase 1 study in 4Q21.

    MT-6402 (PD-L1 ETB with antigen seeding)

    • In July 2021, MTEM dosed its first subject in a Phase 1 study of MT-6402. MT-6402 is the first of MTEM's 3rd generation ETBs to enter the clinic. MT-6402 was designed to induce potent anti-tumor effects via PD-L1 targeting through multiple mechanisms that may overcome the limitations of the PD-L1 antibodies.
    • The Phase 1 study is a multi-center, open-label, dose escalation and dose expansion trial in the United States. Patients with confirmed PD-L1 expressing tumors or confirmed PD-L1 expression in the tumor microenvironment will be eligible to screen for enrollment. The starting dose is 16 mcg/kg.
    • Following determination of the maximum tolerated dose (MTD) or recommended Phase 2 dose, expansion cohorts are planned to evaluate MT-6402 as a monotherapy in tumor-specific and tumor-agnostic cohorts.
    • MTEM expects to provide an update on the Phase 1 study in 4Q21.

    Research

    • MTEM expects to initiate a Phase 1 study for an ETB targeting CTLA-4 in 2022.
    • Several other wholly owned ETB candidates are in preclinical development against targets including CD20, SLAMF-7, CD45, TROP2, and TIGIT.
    • In 2021, MTEM expects to present preclinical data on ETB candidates at medical and scientific conferences.

    Financial Results

    The net loss attributable to common shareholders for the second quarter of 2021 was $15.6 million, or $0.28 per basic and diluted share. This compares with a net loss attributable to common shareholders of $31.2 million, or $0.68 per basic and diluted share, for the same period in 2020.

    Revenues for the second quarter of 2021 were $15.1 million, compared to $6.9 million for the same period in 2020. Revenues for the second quarter of 2021 were comprised of revenues from collaborative research and development agreements with Takeda, Vertex and Bristol Myers Squibb. Total research and development expenses for the second quarter of 2021 were $21.1 million, compared with $30.4 million for the same period in 2020. Total general and administrative expenses for the second quarter of 2021 were $8.9 million, compared with $6.4 million for the same period in 2020.

    As of June 30, 2021, MTEM's cash and investments totaled $200.7 million. MTEM's current cash and investments are expected to fund operations into the second half of 2023.

    About Molecular Templates

    Molecular Templates is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. Our proprietary drug platform technology, known as engineered toxin bodies, or ETBs, leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer and other serious diseases.

    Forward-Looking Statements

    This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Molecular Templates disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Act's Safe Harbor for forward-looking statements. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to Molecular Templates may identify forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the safety or potential efficacy of Molecular Templates' drug or biologic candidates, including the anticipated benefits of Molecular Templates' next-generation ETBs compared to its first-generation ETBs, such as MT-3724; statements relating to the development of MT-5111, TAK-169, and MT-6402; the expected timing of submitting various IND applications and conducting studies and generating data; Molecular Templates' receipt of future development, regulatory and sales milestones and royalty payments; the expected participation and presentation at upcoming conferences; the anticipated effects of the COVID-19 pandemic on Molecular Templates' ongoing clinical studies, manufacturing and preclinical development; and Molecular Templates' belief that its proprietary biologic drug platform technology, or ETBs, provides for a differentiated mechanism of action that may address some of the limitations associated with currently available cancer therapeutics.

    Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual events or results may differ materially from those discussed in the forward-looking statements as a result of various factors including, but not limited to, the uncertainties inherent in the preclinical and clinical development process; whether Molecular Templates' cash resources will be sufficient to fund its continuing operations for the periods and/or trials anticipated; Molecular Templates' ability to timely enroll patients in its clinical trials; the ability of Molecular Templates' to protect its intellectual property rights; risks from global pandemics including COVID-19; and legislative, regulatory, political and economic developments, as well as those risks identified under the heading "Risk Factors" in Molecular Templates' filings with the SEC. There can be no assurance that any of Molecular Templates' drug or biologic candidates will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market products, or that any of the forward-looking information provided herein will be proven accurate. Any forward-looking statements contained in this press release speak only as of the date hereof, and Molecular Templates specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise.

    Contacts:

    Sean McLennan

    Interim Chief Financial Officer

    sean.mclennan@mtem.com

    512-334-6664

    Joyce Allaire

    LifeSci Advisors, LLC

    jallaire@lifesciadvisors.com



    Molecular Templates, Inc.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except share and per share data)

    (unaudited)

     Three Months Ended

    March 31,
      Six Months Ended

    June 30,
     
     2021  2020  2021  2020 
    Research and development revenue, related party$12,899  $3,063  $13,136  $3,396 
    Research and development revenue, other 2,235   2,977   5,218   4,444 
    Grant revenue    869      3,210 
    Total revenue 15,134   6,909   18,354   11,050 
    Operating expenses:               
    Research and development 21,127   30,414   42,447   51,045 
    General and administrative 8,922   6,412   17,151   12,059 
    Total operating expenses 30,049   36,826   59,598   63,104 
    Loss from operations 14,915   29,917   41,244   52,054 
    Interest and other income, net 81   286   133   758 
    Interest and other expense, net (767)  (360)  (1,268)  (708)
    Loss on extinguishment of debt    (1,237)     (1,237)
    Loss before provision for income taxes 15,601   31,228   42,379   53,241 
    Provision for income taxes          5 
    Net loss 15,601   31,228   42,379   53,246 
    Net loss attributable to common shareholders$15,601  $31,228  $42,379  $53,246 
    Net loss per share attributable to common shareholders:               
    Basic and diluted$0.28  $0.68  $0.78  $1.17 
    Weighted average number of shares used in net loss per share calculations:               
    Basic and diluted 56,096,238   45,725,481   54,340,173   45,687,278 
                    



    Molecular Templates, Inc.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands, except share and per share data)

     June 30,

    2021(unaudited)
      December 31,

    2020
     
    ASSETS       
    Current assets:       
    Cash and cash equivalents$43,090  $25,218 
    Marketable securities, current 154,512   68,667 
    Prepaid expenses 7,212   6,080 
    Accounts receivable, related party    234 
    Other current assets 465   1,125 
    Total current assets 205,279   101,324 
    Marketable securities, non-current 3,072    
    Operating lease right-of-use assets 10,138   11,104 
    Property and equipment, net 21,206   22,254 
    Other assets 5,066   5,195 
    Total assets$244,761  $139,877 
    LIABILITIES AND STOCKHOLDERS' EQUITY       
    Current liabilities:       
    Accounts payable$1,907  $2,350 
    Accrued liabilities 9,074   12,575 
    Deferred revenue, current 30,791   14,014 
    Deferred revenue, current, related party    789 
    Other current liabilities, related party 472   5,614 
    Other current liabilities 2,464   2,211 
    Total current liabilities 44,708   37,553 
    Deferred revenue, long-term 52,544   4,538 
    Deferred revenue, long-term, related party 2,586   3,106 
    Long-term debt, net of current portion 35,018   14,926 
    Operating lease liabilities 10,947   12,213 
    Other liabilities, related party    6,711 
    Other liabilities 1,556   1,490 
    Total liabilities 147,359   80,537 
    Commitments and contingencies (Note 10)       
    Stockholders' equity       
    Preferred stock, $0.001 par value:       
    Authorized: 2,000,000 shares at June 30, 2021 and December 31, 2020; issued and outstanding: 250 shares at June 30, 2021 and December 31, 2020     
    Common stock, $0.001 par value:       
    Authorized: 150,000,000 shares at June 30, 2021 and December 31, 2020; issued and outstanding: 56,138,404 shares at June 30, 2021 and 49,984,333 shares at December 31, 2020 56   50 
    Additional paid-in capital 408,758   328,314 
    Accumulated other comprehensive income 8   17 
    Accumulated deficit (311,420)  (269,041)
    Total stockholders' equity 97,402   59,340 
    Total liabilities and stockholders' equity$244,761  $139,877 


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  2. AUSTIN, Texas, July 09, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates" or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary targeted biologic therapeutics, engineered toxin bodies (ETBs), today announced the dosing of the first subject in a Phase 1 study investigating MT-6402 in patients with PD-L1-positive solid tumors.

    "We are excited to have dosed the first subject in the Phase 1 study for MT-6402, a third generation ETB, which is being developed as a potential treatment for patients with PD-L1-positive cancers. MT-6402 utilizes both our proprietary de-immunized toxin scaffold and antigen seeding technology," said Eric Poma, Ph.D., CEO and…

    AUSTIN, Texas, July 09, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates" or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary targeted biologic therapeutics, engineered toxin bodies (ETBs), today announced the dosing of the first subject in a Phase 1 study investigating MT-6402 in patients with PD-L1-positive solid tumors.

    "We are excited to have dosed the first subject in the Phase 1 study for MT-6402, a third generation ETB, which is being developed as a potential treatment for patients with PD-L1-positive cancers. MT-6402 utilizes both our proprietary de-immunized toxin scaffold and antigen seeding technology," said Eric Poma, Ph.D., CEO and CSO of Molecular Templates. "The PD-1/PD-L1 axis is central to many tumors and targeting that axis with a new mechanism of action has an opportunity to provide meaningful benefit to patients. We look forward to providing an update on this study by year-end 2021."

    The Phase 1 study for MT-6402 is planned as a multi-center, open-label, dose escalation and dose expansion trial in the United States and outside of the United States. Patients with confirmed PD-L1 expressing tumors or confirmed PD-L1 expression in the tumor microenvironment will be eligible to screen for enrollment. The starting dose is 16 mcg/kg. Following determination of the maximum tolerated dose (MTD) or recommended Phase 2 dose, expansion cohorts are planned to evaluate MT-6402 as a monotherapy in tumor-specific and tumor-agnostic cohorts. For more information on the Phase 1 study for MT-6402, refer to ClinicalTrials.gov identifier: NCT04795713.

    About MT-6402

    MT-6402 is an ETB consisting of a single chain variable fragment (scFv) with affinity for PD-L1, fused to the enzymatically active de-immunized Shiga-like toxin-A subunit (SLTA) and a class I antigen derived from the human cytomegalovirus (HCMV) pp65 protein. MT-6402 was designed to induce potent anti-tumor effects via PD-L1 targeting through multiple mechanisms that may overcome the limitations of the existing PD-L1 antibody therapies. In MTEM's preclinical studies, MT-6402 was found to specifically bind and kill both tumor and immune PD-L1 expressing cells in a manner consistent with SLTA mediated cellular cytotoxicity through ribosomal inactivation, independent of checkpoint inhibition. Additionally, MT-6402 alters the immunophenotype of targeted cells by delivering foreign class I antigen from CMV for presentation in complex with MHC class I, which may provoke a CMV-specific immune response against the targeted cells. MT-6402 may rehabilitate the tumor microenvironment (TME) and allow for immune recognition of tumors by destroying PD-L1-expressing immune cells in the TME.

    About Molecular Templates

    Molecular Templates is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. Our proprietary drug platform technology, known as engineered toxin bodies, or ETBs, leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer and other serious diseases.

    Forward-Looking Statements

    This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Molecular Templates disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Act's Safe Harbor for forward-looking statements. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to Molecular Templates may identify forward-looking statements. Examples of such statements include, but are not limited to, statements regarding the safety or potential efficacy of Molecular Templates' drug or biologic candidates; the prospects of PD-L1 targeting therapies as a potential treatment; statements relating to the development of MT-6402; the expected timing of initiating and completing enrollment of cohorts and conducting the planned Phase 1 study of MT-6402; and Molecular Templates' belief that its proprietary biologic drug platform technology, or ETBs, provides for a differentiated mechanism of action that may address some of the limitations associated with currently available cancer therapeutics.

    Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual events or results may differ materially from those discussed in the forward-looking statements as a result of various factors including, but not limited to, the uncertainties inherent in the preclinical and clinical development process; Molecular Templates' ability to timely enroll patients in the Phase 1 study; whether Molecular Templates' cash resources will be sufficient to fund its continuing operations for the periods and/or trials anticipated; the ability of Molecular Templates to protect its intellectual property rights; risks from global pandemics including COVID19; and legislative, regulatory, political and economic developments, as well as those risks identified under the heading "Risk Factors" in Molecular Templates' filings with the SEC. There can be no assurance that any of Molecular Templates' drug or biologic candidates will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market products, or that any of the forward-looking information provided herein will be proven accurate. Any forward-looking statements contained in this press release speak only as of the date hereof, and Molecular Templates specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise.

    Investor Contact:

    Joyce Allaire

    LifeSci Advisors, LLC

    jallaire@lifesciadvisors.com

    Source: Molecular Templates, Inc.



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  3. AUSTIN, Texas, July 06, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates" or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary engineered toxin bodies (ETBs), which are differentiated, targeted, biologic therapeutics for cancer and other serious diseases, today announced that it will provide a corporate update and participate in 1-on-1 investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference, to take place July 13-14, 2021.

    Presentation details can be found below.

    Date:Tuesday, July 13, 2021
    Time:4:00 PM ET

    A live webcast of the presentation will be available in the "News and Events" section of the MTEM website at www.mtem.com. Additionally…

    AUSTIN, Texas, July 06, 2021 (GLOBE NEWSWIRE) -- Molecular Templates, Inc. (NASDAQ:MTEM, "Molecular Templates" or "MTEM"))), a clinical-stage biopharmaceutical company focused on the discovery and development of proprietary engineered toxin bodies (ETBs), which are differentiated, targeted, biologic therapeutics for cancer and other serious diseases, today announced that it will provide a corporate update and participate in 1-on-1 investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference, to take place July 13-14, 2021.

    Presentation details can be found below.

    Date:Tuesday, July 13, 2021
    Time:4:00 PM ET

    A live webcast of the presentation will be available in the "News and Events" section of the MTEM website at www.mtem.com. Additionally, a replay of the webcast will be available on MTEM's website following the conference. 

    About Molecular Templates

    Molecular Templates is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. Our proprietary drug platform technology, known as engineered toxin bodies, or ETBs, leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer and other serious diseases.

    Investor Contact:

    Joyce Allaire

    LifeSci Advisors, LLC

    jallaire@lifesciadvisors.com

    Source: Molecular Templates, Inc.



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  4. NOVATO, Calif., June 30, 2021 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for serious rare and ultra-rare genetic diseases, today announced the appointment of Corsee Sanders, Ph.D., to the Board of Directors, effective June 29, 2021. Dr. Sanders, an experienced veteran of the biopharma industry, will serve as an independent director.

    "Dr. Sanders' established experience in global clinical development and especially with new technologies will be instrumental as we further advance our ongoing clinical trials and continue to expand our rare disease pipeline of novel therapeutics for patients who have no other treatment options…

    NOVATO, Calif., June 30, 2021 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for serious rare and ultra-rare genetic diseases, today announced the appointment of Corsee Sanders, Ph.D., to the Board of Directors, effective June 29, 2021. Dr. Sanders, an experienced veteran of the biopharma industry, will serve as an independent director.

    "Dr. Sanders' established experience in global clinical development and especially with new technologies will be instrumental as we further advance our ongoing clinical trials and continue to expand our rare disease pipeline of novel therapeutics for patients who have no other treatment options," said Emil D. Kakkis, M.D., Ph.D., Chief Executive Officer and President of Ultragenyx.

    Dr. Sanders most recently served as strategic advisor to the Chief Medical Officer (CMO) of Celgene, following Celgene's acquisition of Juno where she was an Executive Vice President of Development Operations. She also served as Transition Advisor to Bristol Myers Squibb (BMS), which acquired Celgene. In those roles, she ensured the effective integration of Juno's Chimeric Antigen Receptor T (CAR-T) Cell Development Organization into the Celgene and BMS organizations. Prior to that, Dr. Sanders held numerous leadership positions over the course of 23 years at Genentech/Roche, including serving as Senior Vice President, Global Head of Clinical Operations and Industry Collaboration, for six years.

    "The ability to quickly develop effective medicines is critically important in rare diseases, where patients have few or no treatment options," said Dr. Sanders. "I am thrilled to join the Ultragenyx Board and support the executive team as it works diligently to make a significant impact on these patient populations."

    Currently, Dr. Sanders serves as a member of the Board of Directors of several biotechnology companies including Beigene Ltd. (NASDAQ:BGNE), Molecular Templates Inc. (NASDAQ:MTEM), Legend Biotech Corporation (NASDAQ:LEGN), and AltruBio (formerly AbGenomics) Inc. She is a member of the Board of Trustees and Chair of the Research Ethics Committee for the Fred Hutchinson Cancer Research Center, a non-profit cancer research organization in Seattle. Dr. Sanders graduated magna cum laude from the University of the Philippines where she earned a B.S. and M.S. in statistics. She also earned an M.A. and Ph.D. in statistics from the Wharton Doctoral Program at the University of Pennsylvania.

    About Ultragenyx Pharmaceutical Inc.

    Ultragenyx is a biopharmaceutical company committed to bringing novel therapies to patients for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved medicines and treatment candidates aimed at addressing diseases with high unmet medical need and clear biology, for which there are typically no approved therapies treating the underlying disease.

    The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx's strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.

    For more information on Ultragenyx, please visit the company's website at: www.ultragenyx.com.

    Contact Ultragenyx Pharmaceutical Inc.

    Investors & Media

    Joshua Higa

    415-475-6370



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  5. MIAMI, June 23, 2021 (GLOBE NEWSWIRE) -- RapidPulse, Inc., a privately-held medical device company developing a novel aspiration system to treat ischemic stroke, today announced the closing of a $15 million Series A financing. The financing was led by Santé Ventures who was joined by Epidarex Capital, Hatteras Venture Partners, Broadview Ventures, and Syntheon. RapidPulse plans to use the proceeds to advance its RapidPulse™ Cyclic Aspiration System through expanded clinical evaluation and build out its platform of proprietary catheters.

    The RapidPulse™ system was developed by Syntheon, a medical device incubator focused on developing next generation medical devices. Their various products, commercialized by the largest and most trusted medical…

    MIAMI, June 23, 2021 (GLOBE NEWSWIRE) -- RapidPulse, Inc., a privately-held medical device company developing a novel aspiration system to treat ischemic stroke, today announced the closing of a $15 million Series A financing. The financing was led by Santé Ventures who was joined by Epidarex Capital, Hatteras Venture Partners, Broadview Ventures, and Syntheon. RapidPulse plans to use the proceeds to advance its RapidPulse™ Cyclic Aspiration System through expanded clinical evaluation and build out its platform of proprietary catheters.

    The RapidPulse™ system was developed by Syntheon, a medical device incubator focused on developing next generation medical devices. Their various products, commercialized by the largest and most trusted medical device companies in the world, have treated over 50 million patients globally in applications ranging from laparoscopic surgery, cardiovascular, and flexible endoscopy. Syntheon has over 200 issued patents since its inception over 20 years ago.

    "We are pleased to have partnered with an outstanding investor syndicate to move our RapidPulse™ technology forward in the clinic," said Sean McBrayer, CEO of Syntheon who will also serve as initial CEO of RapidPulse. "Stroke is the second leading cause of death and the third leading cause of disability worldwide, and minutes matter in improving these outcomes. This investment will help us expand our clinical results and move towards regulatory approval in the United States."

    Joining the team are industry veterans Heather Harries and Cynthia Yang. Heather most recently served as General Manager for Terumo's aortic business and will lead product development and operations for RapidPulse. Cynthia will lead clinical development for the company, after most recently working in the neurovascular division of Medtronic.

    Dennis McWilliams, partner at Santé Ventures, added, "Heather and Cynthia bring exceptional domain expertise to the team at RapidPulse, and will complement the significant engineering development experience at Syntheon. RapidPulse is a disruptive platform opportunity in neurovascular, and has the potential to significantly improve patient outcomes for ischemic stroke patients."

    ABOUT RAPIDPULSE

    RapidPulse, Inc. is a privately held medical device company that develops minimally invasive vascular products for ischemic stroke. The company is advancing the development of the RapidPulse™ Cyclic Aspiration System, which includes a novel aspiration pump to allow rapid and consistent removal of blood clots from the brain. RapidPulse is a spinout of Syntheon LLC., a medical device incubator dedicated to developing innovative products in the medical device industry. Visit www.rapidpulsemed.com for more information.

    ABOUT SANTÉ VENTURES

    Santé Ventures is a life sciences investment firm that invests in early-stage companies in medical device, biotechnology, and digitally enabled health services. We partner with entrepreneurs to build impactful companies, including Claret Medical (now part of Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), and Molecular Templates (NASDAQ:MTEM). Founded in 2006, Santé has just under $1 billion in assets under management, and has offices in Austin, TX and Boston, MA. For more information, please visit sante.com.

    ABOUT EPIDAREX CAPITAL

    Epidarex Capital is a transatlantic venture capital firm that builds exceptional life science companies in emerging hubs in the US and UK. Epidarex's experienced team of early-stage investors partner with entrepreneurs and leading research institutions to transform world-class science into highly innovative products addressing major unmet needs in global healthcare. For more information, please visit www.epidarex.com

    ABOUT HATTERAS VENTURE PARTNERS

    Founded in 2000 and based in Durham, NC, Hatteras Venture Partners is a venture capital firm with a focus on seed and early stage healthcare investing. Through six funds and over $600 million under management, the firm has invested in breakthrough science and entrepreneurial grit in the areas of biopharmaceuticals, medical devices, diagnostics, healthcare IT, and related opportunities in human medicine. To learn more, please visit www.hatterasvp.com.

    ABOUT BROADVIEW VENTURES

    Founded in 2008, Broadview Ventures is a mission-driven investment organization. Broadview's primary goal is to improve human health in the areas of cardiovascular disease and stroke through investments in early stage companies developing innovative therapeutics, devices, and diagnostics. For more information about Broadview Ventures, visit broadviewventures.org.

    MEDIA CONTACT:

    Sean McBrayer, info@rapidpulsemed.com, 305-266-3388



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