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Mirati Therapeutics Prices Public Offering of Common Stock

January 29, 2015 – 6:00 am | Edit Post
Mirati Therapeutics Prices Public Offering of Common Stock

SAN DIEGO, Jan. 29, 2015 /PRNewswire/ — Mirati Therapeutics, Inc. (NASDAQ: MRTX) today announced the pricing of an underwritten public offering of 2,250,000 shares of its common stock, offered at a price to the public of $20.00 per share. The gross proceeds from this offering to Mirati are expected to be $45.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Mirati. The offering is expected to close on or about February 3, 2015, subject to customary closing conditions. In addition, Mirati has granted the underwriters a 30-day option to purchase up to an aggregate of 337,500 additional shares of common stock. All of the shares are being offered by Mirati. Mirati expects to use net proceeds of this offering for general corporate purposes, which may include clinical trial and other research and development expenses for its ongoing oncology clinical development programs, including acceleration of expenses related to clinical trial activities for the registration of MGCD265, capital expenditures, working capital and general and administrative expenses.

Citigroup, Jefferies and Leerink Partners are acting as joint book-running managers in the offering.

The shares of common stock described above are being offered by Mirati pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission (“SEC”) that was declared effective on September 24, 2014. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146, or by email at prospectus@citi.com; or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd floor, New York, NY 10022, or by telephone at (877) 547-6340, or by email at Prospectus_Department@Jefferies.com; or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 8087525, or by email at syndicate@leerink.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Mirati Therapeutics

Mirati Therapeutics is a targeted oncology company developing a pipeline of oncology therapeutics for precisely defined patient populations. Mirati is currently advancing three drug candidates through clinical development for multiple oncology indications.

Forward-Looking Statements

Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking information and forward-looking statements (collectively “forward-looking statements” within the meaning of applicable securities laws). Such statements, based as they are on the current expectations of management of Mirati and upon what management believes to be reasonable assumptions based on information currently available to it, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond Mirati’s control. Such statements can usually be identified by the use of words such as “may”, “would”, “believe”, “intend”, “plan”, “anticipate”, “estimate” and other similar terminology, or state that certain actions, events or results “may” or “would” be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements related to Mirati’s expectations regarding the completion, timing and size of its public offering of common stock, the expected gross proceeds from the offering and Mirati’s expected use of the net proceeds from the offering.

Whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict. These risks include those associated with market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities, as well as those inherent in drug development, whether Mirati will be able to obtain financing when needed or on favorable terms, and other risks described in Mirati’s filings with the SEC. In evaluating any forward-looking statements in this release, Mirati cautions readers not to place undue reliance on any forward-looking statements. Unless otherwise required by applicable securities laws, Mirati does not intend, nor does it undertake any obligation, to update or revise any forward-looking statements contained in this news release to reflect subsequent information, events, results or circumstances or otherwise.

Company Contact:
Mirati Therapeutics Inc.
Mark J. Gergen
Executive Vice President & COO
858-332-3410

Investor Relations and Media Relations:
Jason Spark
Canale Communications
619-849-6005
jason@canalecomm.com

 

SOURCE Mirati Therapeutics, Inc.

UC San Francisco, UC San Diego Institutes Launch Major New Cancer Cell Mapping Initiative

January 29, 2015 – 6:00 am | Edit Post
UC San Francisco, UC San Diego Institutes Launch Major New Cancer Cell Mapping Initiative

SAN FRANCISCO, Jan. 29, 2015 /PRNewswire-USNewswire/ — Researchers from the University of California, San Diego School of Medicine and University of California, San Francisco, with support from a diverse team of collaborators, have launched an ambitious new project – dubbed the Cancer Cell Map Initiative or CCMI – to determine how all of the components of a cancer cell interact.

“We’re going to draw the complete wiring diagram of a cancer cell,” said Nevan Krogan, PhD, director of the UC San Francisco division of QB3, a pioneering life science research institute and accelerator, an investigator at the Gladstone Institutes and co-director of CCMI with Trey Ideker, PhD, chief of medical genetics in the UC San Diego Department of Medicine and founder of the UC San Diego Center for Computational Biology & Bioinformatics.

In recent years, progress in genome sequencing has made it possible to decipher hundreds of mutations found in a patient’s tumor. But in only a few cases do scientists understand how these mutations give rise to cancer or indicate what treatments to pursue. More puzzling still, the mutations found in each patient are almost always different – even though they can lead to the same type of cancer.

It has long been thought that, while these mutations are unique to individuals, they hijack the same hallmark cancer pathways or genetic circuits. To interpret genomic data, researchers say the complete wiring diagram of the cell is needed, one that details all of the connections between normal and mutated genes and proteins.

“We have the genomic information already. The bottleneck is how to interpret the cancer genomes,” said Ideker. A comprehensive map of cancer cells would help – and accelerate the development of personalized therapy, the central aim of “precision medicine.”

Krogan agreed: “The key to understanding genomic information is being able to place it into biological context. Mutations in tumor DNA that at first appear to be unrelated may in fact be clustered in specific pathways or multi-protein machines in the cell. The information, in context, will point to areas that we can target with specific therapies.”

The CCMI combines the expertise at UC San Diego in extracting knowledge from big bi­­­­omedical data sets with advances developed at UCSF for experimentally interrogating the structure and function of cells. It is a multimillion dollar collaborative effort between the UC San Diego Moores Cancer Center and the UCSF Helen Diller Family Comprehensive Cancer Center; funded by QB3 at UCSF, UC San Diego Health Sciences and support from Fred Luddy, the founder of ServiceNow, a provider of enterprise service management software.

“The combination of medical research and high technology is our best opportunity to understand and rid the planet of insidious diseases like cancer; I am thrilled and flattered to have the opportunity to be able to support this great frontier,” said Luddy, who is a member of the Moores Cancer Center advisory board.

Scott Lippman, MD, director of Moores Cancer Center, and Alan Ashworth, PhD, FRS, director of the Helen Diller Family Comprehensive Cancer Center, will provide access to tissue samples donated by patients being treated for cancer, as well as expertise in the translation of the results of the project for patient benefit. The samples constitute a library of mutations associated with the disease.

“Over the last few years, genome analysis has revealed many of the commonly occurring mutations in human cancer,” said Ashworth. “Optimal exploitation of this will require a detailed understanding of how these genetic changes subvert normal cellular functions.  The insights that this project will create will be critical in achieving this goal. I am tremendously excited to be involved in this initiative.”

“The CCMI is an example of the best kind of collaborative science,” said Lippman. “It draws together the strengths of multiple institutions and combines them in ways that are exponentially more powerful. And it is fundamentally driven by real people – actual patients with cancer. It is their stories, and the stories contained within their DNA, that will ultimately help us reveal cancer’s darkest and most difficult secrets.”

The CCMI will provide key infrastructure for the recently announced alliance between UC San Diego Health Sciences and San Diego-based Human Longevity Inc., which plans to generate thousands of tumor genomes from UC San Diego cancer patients. It will also leverage resources and information from the National Cancer Institute (NCI), including large databases of cancer genomes and pathways that are being developed in collaboration with the San Diego Supercomputer Center and UC Santa Cruz.

David Haussler, director of QB3 at UC Santa Cruz and creator of the NCI Cancer Genomics Browser, said, “This is an exciting opportunity to utilize the unique NCI repository of 1.5 petabytes of cancer genomics data, combined with proteomic and functional data, to dive deeper into the molecular processes of cancer.”

Primary partners at UC San Diego are the Division of Genetics and the Department of Medicine in the UC San Diego School of Medicine and UC San Diego Moores Cancer Center. At UCSF: QB3, the Department of Cellular and Molecular Pharmacology and the Helen Diller Family Comprehensive Cancer Center.

Several other institutes, resources and biotechnology companies are also involved, including the Gladstone Institutes in San Francisco, the Clinical and Translational Research Institutes at both UC San Diego and UCSF and Thermo Fisher Scientific Inc., based in Massachusetts.

 

SOURCE QB3

Pfenex to Present at the 17th Annual BIO CEO and Investor Conference

January 29, 2015 – 6:00 am | Edit Post
Pfenex to Present at the 17th Annual BIO CEO and Investor Conference

SAN DIEGO, Jan. 29, 2015 /PRNewswire/ — Pfenex Inc. (NYSE MKT: PFNX), a clinical-stage biotechnology company engaged in the development of biosimilar therapeutics, today announced that it will be presenting at the 17th Annual BIO CEO and Investor Conference in New York at the Waldorf Astoria. Dr. Hubert Chen, chief medical officer of Pfenex, will provide an overview of the company’s development programs and business strategy on February 9th at 10:00 a.m. ET. A live audio webcast and archive of the presentation will be available in the Investor Relations section of the Pfenex website at www.pfenex.com.

Pfenex has used, and intends to continue to use, its Investor Relations website (http://pfenex.investorroom.com), as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit (http://pfenex.investorroom.com).

About Pfenex Inc.

Pfenex Inc. is a clinical-stage biotechnology company engaged in the development of biosimilar therapeutics and high-value and difficult to manufacture proteins. The company’s lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab), for the potential treatment of patients with retinal diseases. Pfenex has leveraged its Pfenex Expression Technology® platform to build a pipeline of product candidates and preclinical products under development including other biosimilars, as well as vaccines, generics and next generation biologics.

Logo – http://photos.prnewswire.com/prnh/20140715/127348

 

SOURCE Pfenex Inc.

Executive Assistant to CEO with Local Biotech at OfficeTeam (San Diego, CA)

January 29, 2015 – 12:12 am | Edit Post
Executive Assistant to CEO with Local Biotech at OfficeTeam (San Diego, CA)

A growing biotech company is hiring an Executive Assistant to the CEO. The Executive Assistant will be responsible for managing the CEO’s business and calendar, document key items in meetings, manage travel both international and domestic,…

Senior PHP Software Engineer – Robert Half Technology (San Diego, CA 92121)

January 28, 2015 – 11:00 pm | Edit Post
Senior PHP Software Engineer – Robert Half Technology (San Diego, CA 92121)

…a privately held, venture funded company located in Sorrento Valley. As a biotech /software startup hybrid, we leverage the latest in genetics biotechnology and software

Sr Research Associate – DNA/RNA Nucleic Acid-based Protocols – Illumina, Inc. – San Diego, CA

January 28, 2015 – 10:40 pm | Edit Post

Our customers include a broad range of academic, government, pharmaceutical, biotechnology, and other leading institutions around the globe….
From Illumina, Inc. – 29 Jan 2015 05:40:24 GMT
– View all San Diego jobs

Scientist 2 – Oncology Commercial Product Development – Illumina, Inc. – San Diego, CA

January 28, 2015 – 10:38 pm | Edit Post

Our customers include a broad range of academic, government, pharmaceutical, biotechnology, and other leading institutions around the globe….
From Illumina, Inc. – 29 Jan 2015 05:38:35 GMT
– View all San Diego jobs

Scientist 2 – Oncology Commercial Product Development – Illumina, Inc. – San Diego, CA

January 28, 2015 – 10:38 pm | Edit Post

Our customers include a broad range of academic, government, pharmaceutical, biotechnology, and other leading institutions around the globe….
From Illumina, Inc. – 29 Jan 2015 05:38:35 GMT
– View all San Diego jobs

Manufacturing Process Technician 2 – Illumina, Inc. – San Diego, CA

January 28, 2015 – 10:38 pm | Edit Post

Our customers include a broad range of academic, government, pharmaceutical, biotechnology, and other leading institutions around the globe….
From Illumina, Inc. – 29 Jan 2015 05:38:23 GMT
– View all San Diego jobs

Staff Scientist – IVD Commercial Product Development – Illumina, Inc. – San Diego, CA

January 28, 2015 – 10:38 pm | Edit Post

Our customers include a broad range of academic, government, pharmaceutical, biotechnology, and other leading institutions around the globe….
From Illumina, Inc. – 29 Jan 2015 05:38:23 GMT
– View all San Diego jobs