MNK2

SINGAPORE and BETHESDA, Md., Nov. 15, 2022 (GLOBE NEWSWIRE) -- AUM Biosciences Pte. Ltd. (“AUM”), a clinical-stage biotechnology company, advancing a clinical stage candidate and a broader pipeline designed to deploy multi-faceted inhibition strategies to reverse cancer resistance, today announced it has received Human Research Ethics Committee (“HREC”) approval to commence a Phase II clinical trial of its selective translation inhibitor AUM001 in Australia. Ethics approval is confirmation that AUM has completed all the necessary pre-clinical safety and efficacy testing of AUM001 required to commence its Phase II clinical trial in Australia. “Ethics approval in Australia provides further validation of the study design recently approved under an IND by the U.S. FDA,” said Vishal Doshi, CEO of AUM. “We are proud of our ability to continue to make progress in the development of AUM001, having obtained authorization for our U.S. IND in May. We are very much looking forward to commencing dosing in Part 1 of the Phase II trial before the end of 2022,” added Doshi. This trial is a Phase II open label, dose-finding run-in and cohort expansion study to evaluate the safety, tolerability and effectiveness of AUM001 in combination with pembrolizumab or irinotecan for the treatment of metastatic colorectal cancer. It will be conducted in two parts: (1) dose escalation run-in to identify the Maximum Tolerable Dose and the Recommended Phase II Dose (“RP2D”) of AUM001 to be administered orally as monotherapy and in combination with pembrolizumab or irinotecan, and (2) a cohort expansion at the RP2D of AUM001 in combination with pembrolizumab or irinotecan in patients with locally advanced or metastatic colorectal cancer to evaluate the clinical activity and safety of AUM001. Part 1 of the global Phase II trial will be conducted under Australia’s Clinical Trials Notification Scheme meaning AUM will notify the Therapeutic Goods Administration of HREC approval and complete local site initiation activities. AUM plans to open six clinical sites for Part 1 in Australia. In May 2022, AUM received authorization from the U.S. Food and Drug Administration (“FDA”) of its Investigational New Drug (“IND”) application for the clinical trial evaluating AUM001 to treat metastatic colorectal cancer. Study details can also be found on under study ID: NCT05462236. The global Phase 2 trial is being conducted in collaboration with MSD, a tradename of Merck & Co., Inc., pursuant to a clinical trial collaboration and supply agreement. About AUM001 AUM001 is a highly selective translation inhibitor. In vitro, it was observed to selectively inhibit mitogen-activated protein kinase (MAPK) – interacting protein kinase (MNK) types 1/2 and is expected to thereby block phosphorylation of eIF4E, and in turn, interfere with CAP mediated RNA translation, thereby impairing growth signals involved in cancer development, progression, and resistance to therapies. MNK is important in tumor microenvironment regulation, shifting the balance towards tumor inhibition. Moreover, inhibition of MNK kinases decreases the production of the pro-inflammatory cytokines like TNFα and IL-6, suggesting that MNK kinases and their substrates (eIF4E, hnRNP A1, Spry1/2) play a pivotal role in regulating the innate and adaptive immune compartment. This has the potential to turn “cold” tumors “hot”, increasing the proportion of tumors susceptible to immunotherapies. AUM001 demonstrated encouraging safety, tolerability, and target engagement as a monotherapy in two phase 1 clinical trials. On October 20, 2022, AUM and Mountain Crest Acquisition Corp. V (Nasdaq: MCAG) (“Mountain Crest”), a publicly traded special purpose acquisition company formed in Delaware, whose management team has an impressive pedigree of successful SPAC transactions, announced that they have entered into a definitive business combination agreement (the “Agreement”). Upon closing of the transaction, the combined company will operate under a holding entity, AUM Biosciences Limited, a Cayman Islands exempted company (“Holdco”), and intends to trade on the Nasdaq Stock Market under the ticker symbol AUMB. About AUM Biosciences AUM is a global clinical-stage oncology company focused on advancing a pipeline of precision oncology therapeutics designed to deploy multi-faceted inhibition strategies to reverse cancer resistance. AUM is advancing a broad portfolio of precision oncology therapeutics. AUM001 is a selective and synergistic MNK inhibitor as shown in current studies and expected to begin Phase 2 enrollment in the fourth quarter 2022. AUM601 is a promising therapy for Tropomyosin Receptor Kinase (TRK) fusions and mutations within the kinase domain and is on track to enter Phase 2 planning. AUM302 is a potentially first-in-class macrocyclic oral kinase inhibitor rationally designed small molecule to uniquely combine pan-PIM kinase, pan-PI3K and mTOR inhibition in a single agent. Comprised of pharma industry veterans with decades of research and development experience, the AUM leadership has an extensive track record of selecting distinctive early-stage assets, successfully exiting virtual biotech models, and has contributed to over 50 INDs and over 150 oncology clinical trials, and development of several currently marketed oncology treatments with annual peak sales up to $3 billion. About Mountain Crest Mountain Crest Acquisition Corp. V (Nasdaq: MCAG) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Non-Solicitation This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Important Information About the Proposed Business Combination and Where to Find It In connection with the proposed business combination, AUM, Mountain Crest and/or a successor entity of the transaction intends to materials with the SEC, including a registration statement on Form F-4 containing a proxy statement/prospectus (the “Registration Statement”). The Registration Statement will include a proxy statement/prospectus to be distributed to holders of Mountain Crest’s common stock in connection with Mountain Crest’s solicitation of proxies for the vote by Mountain Crest’s stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to AUM’s stockholders in connection with the proposed business combination. After the Registration Statement has been filed and declared effective, Mountain Crest will mail a definitive proxy statement, when available, to its stockholders. Copies of these documents may be obtained free of charge at the SEC's website at Stockholders of Mountain Crest are urged to read the Registration Statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information. The information contained on, or that may be accessed through, the website referenced in this press release is not incorporated by reference into, and is not a part of, this press release. Participants in the Solicitation Mountain Crest and its directors and executive officers may be deemed participants in the solicitation of proxies from Mountain Crest’s stockholders with respect to the business combination. A list of the names of those directors and executive officers and a description of their interests in Mountain Crest will be included in the Registration Statement for the proposed business combination and be available at Additional information regarding the interests of such participants will be contained in the Registration Statement for the proposed business combination when available. Information about Mountain Crest’s directors and executive officers and their ownership of Mountain Crest common stock is set forth in Mountain Crest’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the Registration Statement pertaining to the proposed business combination when it becomes available. These documents can be obtained free of charge from the sources indicated above. AUM and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Mountain Crest in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the Registration Statement for the proposed business combination. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Mountain Crest’s and AUM’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Mountain Crest’s and AUM’s expectations with respect to future performance and anticipated financial impacts of the proposed business combination, the satisfaction of the closing conditions to the proposed business combination, and the timing of the completion of the proposed business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Mountain Crest’s and AUM’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Agreement; (2) the outcome of any legal proceedings that may be instituted against Mountain Crest and AUM following the announcement of the Agreement and the transactions contemplated therein; (3) the inability to complete the proposed business combination, including due to failure to obtain approval of the stockholders of Mountain Crest and AUM, certain regulatory approvals, or satisfy other conditions to closing in the Agreement; (4) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Agreement or could otherwise cause the transaction to fail to close; (5) the impact of the COVID-19 pandemic on AUM’s business and/or the ability of the parties to complete the proposed business combination; (6) the inability to obtain the listing of Holdco’s ordinary shares on Nasdaq following the proposed business combination; (7) the risk that the proposed business combination disrupts current plans and operations as a result of the announcement and consummation of the proposed business combination; (8) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of AUM to grow and manage growth profitably, and retain its key employees; (9) costs related to the proposed business combination; (10) changes in applicable laws or regulations; (11) the possibility that Mountain Crest or AUM may be adversely affected by other economic, business, and/or competitive factors; (12) risks relating to the uncertainty of the projected financial information with respect to AUM; (13) risks related to the organic and inorganic growth of AUM’s business and the timing of expected business milestones; (14) the amount of redemption requests made by Mountain Crest’s stockholders; and (15) other risks and uncertainties indicated from time to time in the final prospectus of Mountain Crest for its initial public offering and the Registration Statement relating to the proposed business combination, including those under “Risk Factors” therein, and in Mountain Crest’s other filings with the SEC. Mountain Crest cautions that the foregoing list of factors is not exclusive. Mountain Crest and AUM caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Mountain Crest and AUM do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Investors: ICR Westwicke Stephanie Carrington T: (646) 277-1282 stephanie.carrington@westwicke.com Media: FINN Partners Glenn Silver T: (973) 818-8198 glenn.silver@finnpartners.com SPAG/FINN Verlynn Heng +65-91861225 verlynn.heng@spag.asia

Courtesy of Getty Image Although it seems like science fiction, we may one day be able to grow replacement organs and tissues. Our ability to manipulate stem cells is accelerating, and new research places that goal much closer. For that and more reach news, continue reading. New Stem Cell Research Could Lead to Growing Organs in a Petri Dish Research has come a long way in manipulating stem cells in the last decade or two. In theory, it would be possible to use stem cells to grow into whatever type of tissue — even organs — you want. Recent research out of the University of Copenhagen has identified a new step in the development process that puts them one step closer to making that possible. The research was published in the journal Nature Cell Biology. “Very simply put, a number of recent studies have attempted to make a gut from stem cells in a dish,” Martin Proks, a Ph.D. student at the University of Copenhagen and one of the primary authors from Novo Nordisk Foundation Center for Stem Cell Medicine at the university said. “We have found a new way to do this, a way which follows different aspects of what happens in the embryo. Here, we found a new route that the embryo uses, and we describe the intermediate stage that different types of step cells could use to make the gut and other organs.” They evaluated pluripotent stem cells and endoderm extra-embryonic stem cells. The extra-embryonic endoderm cells are a new stem cell line described a few years ago that contributes to the gut organs. They act as support cells that provide membrane nourishment. Using the newly identified “alternative route,” they took extra-embryonic endoderm stem cells and developed them into intestinal organ-like structures in a dish. This new alternative process allows them actually to form organoid structures. To do this, they created a new computational tool that compared clusters of cells that were candidates to form organs associated with the digestive tract, including the liver, pancreas, lung and intestine. They are still having challenges maturing the cells into fully functioning organs, but the findings offer new approaches. Molecule that Stimulates the Formation of New Insulin-Producing Cells Researchers at Karolinska Institute identified and tested a small molecule that can stimulate the regeneration of insulin-producing beta cells. They demonstrated this in zebrafish and mammalian tissue. They believe it has the potential to be a new target for treating diabetes. The molecule binds to a protein called MNK2, regulates mRNA translation and boosts protein synthesis. In both zebrafish and pig tissue, they demonstrated that it could induce the formation of new pancreatic beta cells and stimulate the expression of insulin in human organoids. Dark Matter of the Genome Mutations Linked to Cancer For a long time, non-coding sections of the genome were dubbed “junk DNA” because they didn’t understand what it did. Then they discovered that much of it played a role in regulating gene activity. Now, researchers with Dana-Farber Cancer Institute are finding a link between non-coding mutations and cancer risk. They found that in many cases, mutations in non-coding parts of the genome have an epigenetic effect, which is to say, they change how tightly the DNA at those locations is wrapped. That affects the ability of other segments of DNA or specific proteins to bind to those locations, which influence cancer genes. For example, more than 300 mutations have been identified linked to an increased risk of breast cancer. But less than 10% are within genes, and the rest are in non-coding regions. From their research, they developed a database of mutations that can be linked to cancer risk via a known biological mechanism. Molecule in Mosquito Spit is New Target for Several Diseases Investigators with the University of Leeds identified a molecule in mosquito spit called sialokinin that might be a new target for vaccination against various diseases, including Yellow Fever, Dengue and Zika. Sialokinin makes it easier for several types of viruses to move from mosquitoes to humans. Previous research found that sialokinin could alter the function of blood vessel cells grown in a Petri dish, which allowed for increased blood flow and more effective mosquito feeding. The molecules make blood vessels more permeable, allowing contents to leak out into the skin, which helps viruses infect cells. They also found that sialokinin isn’t found in all mosquitoes’ spit, such as Anopheles, the dominant vector for transmission of malaria, a parasite. These mosquitos cannot spread most viruses. Multiple Heart Conditions Associated with Triple the Dementia Risk A large study out of the University of Exeter and Oxford University evaluated data from more than 200,000 people 60 years or older of European ancestry in the UK Biobank. They identified people diagnosed with cardiometabolic disorders such as diabetes, stroke, a heart attack, or any combination of the three and who went on to develop dementia. They found that the more people had these three conditions, the higher the risk of dementia. People with all three were three times more likely to develop dementia compared to people with a high genetic risk of dementia. They published the research in The Lancet Healthy Longevity. “Dementia is a major global issue, with predictions that 135 million worldwide will have the devastating condition by 2050,” Dr. Xin You Tai, lead author and doctoral student at the University of Oxford, said. “We found that having such heart-related conditions is linked to dementia risk to a greater extent than genetic risk. So whatever genetic risk you were born with, you can potentially make a big impact on reducing risk of dementia by looking after heart and metabolic health throughout life.”

Researchers show how a molecule that they have identified stimulates the formation of new insulin-producing cells in zebrafish and mammalian tissue, through a newly described mechanism for regulating protein synthesis. Researchers at Karolinska Institutet in Sweden show how a molecule that they have identified stimulates the formation of new insulin-producing cells in zebrafish and mammalian tissue, through a newly described mechanism for regulating protein synthesis. The results are published in Nature Chemical Biology. "Our findings indicate a new potential target for treating diabetes, in that we demonstrate a possible way of stimulating the formation of new insulin-producing cells," says the study's last author Olov Andersson, senior researcher at the Department of Cell and Molecular Biology at Karolinska Institutet. Both type 1 and type 2 diabetes are characterised by raised levels of blood sugar, the result of low levels of endogenous insulin, the hormone needed for glucose uptake from the blood, or a physiological inability to utilise the insulin secreted -- or both. Insulin injections and glucose-lowering drugs can control the disease, but not cure it. Regeneration of pancreatic β cells "One alternative could be a treatment that regulates blood glucose by increasing the number of insulin-producing pancreatic β cells, so we're researching the possible regeneration of these cells," says the study's first author Christos Karampelias, former doctoral student at the Department of Cell and Molecular Biology at Karolinska Institutet. The team from Karolinska Institutet has previously identified a small molecule able to stimulate the regeneration of insulin-producing β cells. This they did by analysing a large quantity of substances in a zebrafish model. In this present study, they examined the molecular mechanism of this stimulation. By analysing a large number of molecular interactions in yeast cells, the researchers show that their molecule binds to a protein called MNK2. Subsequent studies of zebrafish and cell cultures indicate that the molecule operates by regulating the translation of mRNA and boosting the synthesis of proteins, without which the formation of new β cells cannot be increased. Zebrafish given the molecule also showed lower levels of blood glucose than controls. The study also shows that the molecule can induce the formation of new pancreatic β cells from pigs and stimulate the expression of insulin in human organoids (organ-like cell formations). Studies of human tissue "We'll now be studying the effect of this and similar molecules in human tissue and analysing the molecule's target protein, MNK2, in tissue from healthy donors and donors with diabetes," says Dr Andersson. The studied molecule was found through studies on zebrafish, providing a valuable model for testing a large number of potential diabetes drug candidates. Since the fish embryo is transparent, its development is easy to monitor with a microscope. Zebrafish larvae also have only one cluster of β cells, a so-called islet of Langerhans, which facilitates studies of how new β cells are formed after the population have been decreased in a way that mimics the onset of type 1 diabetes. The study was financed by the European Research Council, the Swedish Research Council, the Ragnar Söderberg Foundation, the Novo Nordisk Foundation, the Strategic Research Programme in Diabetes (SRP Diabetes) and the Strategic Research Area in Stem Cell Research and Regenerative Medicine (StratRegen) at Karolinska Institutet.