PALO ALTO, Calif., Dec. 27, 2024 (GLOBE NEWSWIRE) -- Vincerx Pharma, Inc. (Nasdaq: VINC), a biopharmaceutical company aspiring to address the unmet medical needs of patients with cancer through paradigm-shifting therapeutics, today announced that it has entered into a binding term sheet for a proposed merger with Oqory, Inc., a privately-held, clinical-stage company developing ADCs for the treatment of multiple oncology indications. Upon completion of the proposed merger, Oqory, Inc. will merge with Vincerx Pharma, Inc. Post-closing, Oqory equity holders are expected to own approximately 95% of the combined entity, while Vincerx equity holders will hold about 5%. The transaction includes a minimum fully diluted equity value of $13.66 million for existing Vincerx stockholders at closing and, as a condition to the closing of the merger, completion of a concurrent offering of Vincerx equity securities of at least $20 million. Additionally, Oqory-designated investors will provide interim financing to Vincerx of $1.5 million in two tranches, approximately $1,000,000 of which was funded today through the issuance of common stock and pre-funded warrants along with accompanying common stock warrants and approximately $500,000 of which will be funded on or prior to January 31, 2025. The merger is subject to customary closing conditions, including due diligence, regulatory approvals, negotiation of a definitive merger agreement, stockholder approval from both parties, completion of the minimum $20 million financing, and the continued listing of Vincerx's common stock on Nasdaq. Vincerx is also implementing additional streamlining and cost-control measures, including a workforce reduction, as it pursues due diligence and transaction-related work. As part of this workforce reduction, Dr. Ahmed Hamdy, Chairman and Chief Executive Officer (CEO), has stepped down as CEO but will remain as Chairman. Dr. Raquel Izumi has stepped down as President and Chief Operations Officer and taken over as Acting CEO in a consulting capacity. Alexander Seelenberger has stepped down as Chief Financial Officer, and Kevin Hass, the Company’s Vice President and Controller, has taken over as Acting Chief Financial Officer. Mr. Seelenberger has agreed to provide ongoing assistance in a consulting capacity to assist the Company as it pursues its strategic efforts. “This strategic transaction highlights Vincerx’s commitment to develop ADCs with improved safety profiles that allow patients to thrive on—rather than endure—their cancer therapies,” said Raquel Izumi, Ph.D., Acting Chief Executive Officer. “Oqory’s anti-TROP2 ADC has shown favorable efficacy and safety in the clinic. Among approximately 150 treated patients, results include an 83% overall response rate and 100% disease control rate in first-line triple-negative breast cancer (TNBC; n=30). Unlike other TROP2 ADCs in Phase 3, no cases of interstitial lung disease or Grade 3 and above stomatitis have been reported. Oqory’s Phase 3 studies of OQY-3258 are ongoing to confirm these promising findings.” About OQY-3258 (also known as ESG401) OQY-3258 is Oqory’s anti-TROP2 ADC with an optimized enzyme-dependent linker technology and an SN-38 payload with established efficacy and manageable side effect profile. OQY-3258 has completed Phase 1/2 development in over 150 patients with solid tumors, including metastatic HR+/HER2- and triple-negative breast cancer. OQY-3258 has shown efficacy in these patients, including reduction of brain metastasis and responses in heavily pretreated patients. To date, OQY-3258 has exhibited a differentiated safety profile vs. Trodelvy and other TROP2 ADCs in Phase 3 development. Notably, no interstitial lung disease or ocular surface events have been observed. Gastrointestinal effects have been mild and mainly Grade 1/2. Neutropenia and leukopenia have been the major AEs, which were manageable and did not result in discontinuation of study drug. OQY-3258 is being evaluated in a Phase 3 study as first-line treatment in patients with unresectable recurrent or metastatic triple-negative breast cancer ( NCT06732323 ) and in a Phase 3 study in patients with unresectable locally advanced or metastatic HR+/HER2- breast cancer ( NCT06383767 ). About Oqory, Inc. Oqory, Inc. is an innovator in the field of ADCs with expertise in advancing targeted cancer therapies. The Company’s pipeline includes multiple ADC programs, with two currently in clinical development and several next-generation ADCs in preclinical stages. These programs are designed to address critical unmet needs in indications such as breast cancer, non-small cell lung cancer, small cell lung cancer, multiple myeloma, and other metastatic solid tumors. Powered by a proprietary ADC platform, Oqory is delivering therapies that have demonstrated promising efficacy and safety paving the way for improved patient outcomes. About Vincerx Pharma, Inc. Vincerx Pharma, Inc. is a clinical-stage biopharmaceutical company committed to developing differentiated and novel therapies to address the unmet medical needs of patients with cancer. Vincerx’s pipeline consists of a next-generation ADC, VIP943, currently in Phase 1; a small molecule drug conjugate, VIP236, which has completed its Phase 1 study; a CDK9 inhibitor, enitociclib, which has completed a Phase 1 monotherapy study; a preclinical ADC, VIP924; and VersAptxTM, a versatile, next-generation bioconjugation platform. Vincerx is based in Palo Alto, California, and has a research subsidiary in Monheim, Germany. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, expectations and events, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “suggest,” “seek,” “intend,” “plan,” “goal,” “potential,” “on-target,” “on track,” “project,” “estimate,” “anticipate,” or other comparable terms. All statements other than statements of historical facts included in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, the entry into a definitive merger agreement; the anticipated terms and closing of the merger, the $20 million equity investment, and the amount and timing of the interim financing; the expected ownership structure and value to Vincerx stockholders upon closing of the merger; the anticipated benefits of a merger transaction; and the clinical results of Oqory’s product candidates. Forward-looking statements are neither historical facts nor assurances of future performance or events. Instead, they are based only on current beliefs, expectations, and assumptions regarding future business developments, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside Vincerx’s control. Actual results, conditions, and events may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results, conditions, and events to differ materially from those indicated in the forward-looking statements include, but are not limited to, Vincerx’s capital requirements, availability and sufficiency of capital, and cash runway; the ability of the parties to enter into a definitive merger agreement and the final terms thereof; the parties’ ability to satisfy the conditions precedent to the merger, including stockholder approval; the closing of the merger; the risk that any definitive agreement is terminated after it is entered into but before consummation of any proposed merger;; Vincerx’s reliance on receipt of interim funding; market acceptance of the combined company; risks associated with clinical development of the Vincerx and Oqory product candidates; general economic, financial, legal, political, and business conditions; and the risks and uncertainties set forth in Vincerx’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and subsequent reports filed with the Securities and Exchange Commission by Vincerx. Forward-looking statements speak only as of the date hereof, and Vincerx disclaims any obligation to update any forward-looking statements. Vincerx and the Vincerx logo are trademarks of Vincerx. This press release also contains trademarks and trade names that are the property of their respective owners. Contacts: Gabriela Jairala Vincerx Pharma, Inc. gabriela.jairala@vincerx.com Totyana Simien Inizio Evoke Comms totyana.simien@inizioevoke.comSocial Security COLA 2025: Here's How Much Your Check Will Increase in January

Seahawks strive to keep playoff hopes alive vs. Bears

Mary Trump Urges Democrats to 'Fight Back' Against GOP's Total ControlAshlon Jackson scores career-best 30 points as No. 13 Duke beats No. 9 Kansas State 73-62

A humanitarian crisis in Gaza has resulted in Australia supporting a reinvigorated push for a ceasefire and aid to flow at scale. Login or signup to continue reading The United Nations General Assembly overwhelmingly voted to support a permanent and unconditional ceasefire, the release of hostages, the delivery of humanitarian aid and the protection of civilians. The motion passed with 158 members voting in support and nine against, with 13 abstaining at an emergency session on Thursday. The humanitarian crisis was a key factor in Australia's vote, with more than 44,000 people killed in Gaza, including more than 13,000 children. Nearly all of the strip's 2.1 million people have lost their homes and don't have enough food, water or medical supplies. Australia's ambassador to the UN James Larsen said t he demand for full, rapid, safe and unhindered humanitarian assistance to Gaza was urgent as he branded the human human suffering unbearable. "Israel must take urgent action to alleviate this humanitarian crisis," he said. But the resolution's shortcomings included not demanding a conditional ceasefire and failing to unequivocally condemn Hamas, Mr Larsen said as he called for the designated terrorist group to lay down arms. "There can be no role for terrorists in the future governance of Gaza," he said. Australia also voted to support the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) in a second motion that passed with 159 in support, nine against and 11 abstaining. The motion called for the Israeli Knesset to reverse laws banning the agency from operating in Israel and the Occupied Palestinian Territory, which include Gaza and the West Bank. Foreign Minister Penny Wong has repeatedly stated the agency was the only one with the capability to distribute aid at the scale needed in Gaza. Israel's ambassador to the UN said the agency had been infiltrated by Hamas - something it denies - and accused the general assembly of ignoring the hostages taken by the terrorist organisation on October 7. Mr Larsen expressed grave concern over Israel's laws, saying while the resolution wasn't perfect, "limiting UNRWA's operations will only exacerbate an already terrible humanitarian crisis". Opposition home affairs spokesman James Paterson chastised the votes, saying the federal government's lack of support for Israel translated into anti-Semitism in Australia as people linked the Jewish community to Israel. "They don't draw any distinction between Israel and Jews, so when the Australian government abandons or even worse, vilifies Israel, anti-Semites take encouragement from that," he told Sky News. It follows a number of anti-Semitism crimes including the firebombing of a Melbourne synagogue - being investigated as a likely terrorist attack - and anti-Israel graffiti sprayed on a building before a car was set on fire in Sydney. Senator Paterson also attacked UNRWA after a handful of staff members were fired for being involved in Hamas' terror attack, saying it was "unreformable" and Australia shouldn't be providing funding. Australia suspended funding after the allegations and only reinstated it with a probity agreement attached and intelligence agencies determined it wasn't a terrorist organisation. Australian Associated Press DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. WEEKLY Follow the Newcastle Knights in the NRL? Don't miss your weekly Knights update. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!An image showing a plane passenger's brightly lit phone screen during a night flight has sparked a heated discussion about airplane etiquette on Reddit . The image was featured in a viral post shared by user Mooseycanuck and has amassed 15,000 upvotes since it was posted on December 15. The poster shared a caption with the photo saying: "My neighbor on a night flight. She wouldn't reduce the brightness even after I requested her." The image shows a dimly lit plane cabin with a lone passenger's bright phone screen standing out. Was the poster making a reasonable request or does the neighbor have every right to use her phone at her desired brightness level? Nick Leighton, an etiquette expert and co-host of the podcast Were You Raised by Wolves? , told Newsweek: "It's not an entirely unreasonable request and it would have been nice had it been accommodated. But it's certainly possible the phone-owner had legitimate reasons for needing the brightness dialed up, so best to try to give them the benefit of the doubt." The viral post comes as more than half of Americans (57 percent) are reported to be preparing for winter travel , with the majority (96 percent) planning to travel as much or even more than last winter, according to the TripAdvisor study released in November. According to a December report by the International Air Transport Association (IATA), "solid growth in passenger demand" continued in October. The load factor—the percentage of available seats an airline sells on its flights—reached 83.9 percent for international travel and 84.5 percent for domestic travel in October, the IATA report found. 'Mutual Responsibility' Etiquette expert Lisa Mirza Grotts, author of A Traveler's Passport to Etiquette in a Post-Pandemic World , told Newsweek : "It's puzzling why some passengers, in any class of service, feel entitled to disrupt a night flight when the cabin is dark for a reason: to allow passengers to sleep." She added: "While the overhead light is available for use, shining a bright phone screen is disruptive. It's not all about you when sharing space with others; consideration and respect go a long way, especially on a transatlantic flight." Etiquette expert Nicole Rose, the founder and CEO of Poised & Proper, told Newsweek that etiquette is a "two-way street, especially in shared spaces like an airplane cabin...it's about awareness and adjusting our behavior to ensure comfort all around." Rose noted that there is a "mutual responsibility," explaining that "while it's considerate for one to dim their screen, it's also prudent for others to come prepared for such situations." Leighton agreed, saying: "It's always a good idea to have ear plugs and an eye mask whenever you travel, day or night. We can't always control those around us, but we can try to tune them out." 'Rude' and 'Inconsiderate' The Reddit community largely sided with the original poster, criticizing the passenger with the bright phone screen. User JamonHamon said: "The phone does NOT need to be that bright," while leechpeach92 agreed, saying: "people really are so inconsiderate." TwpMun added: "It baffles me how rude a person has to be to flat out say 'no,' when asked to do a simple thing like this." Quatropiscas offered a practical piece of advice, saying: "When you have issues with another passenger, don't talk to them directly. Always do your request to a flight attendant. They are better trained to deal with it and, if you're dealing with an obnoxious moron, there's a chance that he/she will escalate things no matter how calm and polite you were." However, some users were more understanding of the passenger with the phone. CacklingMossHag mentioned the possibility of a vision issue, saying: "she might have vision problems? I have awful eyesight and am often told my screens are too bright, but if it's any lower I get eye strain headaches and blurry vision." User djluminol noted: "If you know you're taking a night flight and light bothers you why would you not bring a blind for your eyes? Why is your comfort another person's responsibility?" Lostraylien added: "Who cares they aren't hurting anyone, if you want darkness close your eyes." Newsweek has contacted the original poster for comment via the Reddit messaging system. Do you have a travel-related story to share? Let us know via life@newsweek.com and your story could be featured on Newsweek.