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Vascular Biogenics Ltd. (Nasdaq: VBLT), commonly known as VBL Therapeutics, is a leading biotechnology company headquartered at 6 Yonatan Netanyahu Street, Yehud, Center District, Israel. The company is dedicated to the discovery, development, and commercialization of innovative therapies for treating cancer and immune-inflammatory diseases. Its mission is to transform the standard of care in oncology through precision medicines.
Recently, VBL Therapeutics has made significant strides in its corporate journey. On August 14, 2023, the company announced its financial results for the second quarter ending June 30, 2023, and provided updates on its ongoing merger with Notable Labs, Inc. This merger is seen as a pivotal move, aiming to combine VBL's cutting-edge technologies with Notable's Predictive Precision Medicines Platform. The merger is anticipated to create a robust entity focused on developing a pipeline of clinical-stage precision medicines.
On September 6, 2023, the company's registration statement on Form S-4 was declared effective by the U.S. Securities and Exchange Commission (SEC), marking a critical milestone towards completing the merger. Following the approval from VBL’s shareholders at the annual and special meeting held on October 12, 2023, the merger is expected to close around October 16, 2023. Post-merger, VBL will be renamed 'Notable Labs, Ltd.' and will trade under the new symbol 'NTBL' on the Nasdaq Capital Market.
The merger with Notable Labs is expected to leverage Notable's technology to enhance VBL’s existing pipeline, offering a promising future for patients and shareholders alike. The combined organization aims to advance precision medicines that could significantly improve patient outcomes in oncology.
VBL Therapeutics (Nasdaq: VBLT) has commenced a Phase 2 clinical trial investigating the combination of VB-111 and nivolumab (Opdivo®) for metastatic colorectal cancer. The trial, part of a Cooperative Research and Development Agreement with the National Cancer Institute, aims to enhance immune responses against this prevalent cancer. The initial patient enrollment reflects progress despite COVID-19 challenges. VB-111, VBL's lead candidate, is already under study for other solid tumors, showcasing its potential in addressing unmet medical needs in oncology.
VBL Therapeutics (VBLT) announced positive interim results for its VB-111 in the OVAL Phase 3 ovarian cancer study, achieving a 58% response rate. A second interim analysis confirmed that the study will proceed without modifications. The company submitted a pre-IND application for VB-601 targeting immune-inflammatory conditions in June and presented promising data for treating NASH and colitis. Financially, VBLT reported $158,000 in revenues for Q2 2020, with a net loss of $5.8 million. Cash reserves are expected to last into Q3 2022, following successful fundraising efforts.
VBL Therapeutics (Nasdaq: VBLT) has received a positive recommendation from the independent Data Safety Monitoring Committee (DSMC) to continue the OVAL Phase 3 study of VB-111 in platinum-resistant ovarian cancer. The DSMC's second interim analysis reviewed unblinded Overall Survival data from the first 100 randomized patients, with a follow-up of at least 3 months. The study maintains a high response rate of over 50%, which assures the company of the trial's ongoing viability. The next DSMC review is anticipated in early 2021.
VBL Therapeutics (Nasdaq: VBLT) will host a conference call on August 13, 2020, at 8:30 AM ET to discuss its second-quarter financial results and provide a corporate update. The biotech firm, focused on cancer treatment, is developing ofranergene obadenovec (VB-111), a first-in-class gene therapy for various solid tumors, currently in a phase 3 trial for platinum-resistant ovarian cancer. The therapy has shown positive tolerance and signals in prior studies involving over 300 patients.
VBL Therapeutics (Nasdaq: VBLT) has reported promising results from its late-breaking study presented at the AACR Virtual Annual Meeting II. The study demonstrates that VBL's MOSPD2 bi-specific antibody candidates significantly activate T-cells and extend survival in animal models with metastatic cervical and breast cancer (p=0.001; p=0.002). MOSPD2 is identified as a key target for immunotherapy, with results indicating dose-dependent tumor cell destruction by CD8 T-cells and overall enhanced therapeutic potential for treating various solid tumors.
VBL Therapeutics (VBLT) announced new data on its anti-MOSPD2 antibodies targeting rheumatoid arthritis (RA) at the EULAR 2020 E-Congress. Key findings include:
- Strong clinical relevance in RA with up to 90% inhibition of monocyte migration in mouse models.
- MOSPD2 knockout mice showed no disease progression in RA models.
- Anti-MOSPD2 treatment significantly reduced disease severity by over 50% (p<0.005).
- Higher efficacy compared to anti-TNFa in advanced disease phases.
This data supports VBL's ongoing development of clinical candidates targeting inflammatory diseases.
VBL Therapeutics (Nasdaq: VBLT) announced promising data on its bi-specific antibodies targeting solid tumors, set to be presented at the AACR Virtual Meeting II from June 22-24, 2020. The findings reveal that MOSPD2 bi-specific antibodies enhance T-cell activation and significantly improve survival rates in mice with metastatic cervical cancer, with no observed toxicity. MOSPD2, linked to cell motility, is found in various solid tumors. VBL's innovative platform aims to harness MOSPD2 for developing treatments in oncology and inflammatory diseases.
VBL Therapeutics (Nasdaq: VBLT) announced its Q1 2020 financial results and progress in drug development. The interim analysis of the OVAL study for VB-111 in ovarian cancer showed a 53% overall CA-125 response rate, with the treatment arm potentially achieving 58% or higher. A successful $18.1 million fundraising occurred amid COVID-19 challenges, bolstering a cash position of $31.6 million, expected to fund operations into Q3 2022. However, the company reported a net loss of $5.4 million in Q1, compared to $4.2 million a year prior.
VBL Therapeutics (Nasdaq: VBLT) announced the completion of a registered direct offering of 5,142,857 ordinary shares at $1.575 each, raising approximately $8.1 million in gross proceeds. Key shareholders participated in this offering. In a concurrent private placement, unregistered warrants for the same number of shares were issued, with an exercise price of $1.45. The funds will be used for working capital and general corporate purposes. This offering is part of a total of $18.1 million raised across two recent offerings.
VBL Therapeutics (Nasdaq: VBLT) has completed a registered direct offering of 6,349,208 ordinary shares at $1.575 per share, raising approximately $10 million for general corporate use. Concurrently, they issued unregistered warrants for the same number of shares, exercisable at $1.45 each, expiring November 11, 2020. Additionally, VBL entered a Second Offering of 5,142,857 shares at the same price with major current shareholders, expected to generate $8.1 million. H.C. Wainwright & Co. serves as the exclusive placement agent for both offerings.
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