With its IL1-RAP inhibitor technology, Cantargia AB (ST:CANTA) tackles tumour-promoting inflammation by targeting IL-1 signalling pathway. Moreover, lead asset CAN04, a fully humanized antibody, causes cancer cell death by an established mechanism ADCC. This dual mechanism action and the potential ability to harness the immunes system to fight cancer makes Cantargia an interesting immunoncology play, in our view. Recent Novartis data publication from its six-year Phase III cardiovascular outcomes study in heart attack patients with canakinumab (direct IL-1 β inhibitor) provides some validation to Cantargia’s plans, as it unexpectedly showed that the drug reduced lung cancer incidence and mortality. Our valuation of Cantargia is SEK1.64bn or SEK24.8/share.
Data from the first part of Phase I/II imminent
CAN04 is a fully humanised, dual-action IL1RAP IgG1 antibody with ADCC effect. Cantargia is running a Phase I/IIa trial, known as CANFOUR, testing CAN04 in solid tumour indications, primarily focusing on NSCLC and pancreatic cancer. The CANFOUR trial is divided into two parts. The Phase I part of the study will establish the safety profile of the drug and the dose for the Phase IIa part of the trial. Results from the Phase I part of the study are expected in mid-2018. The second part of the trial (Phase IIa) will look at the efficacy of CAN04 in NSCLC and pancreatic cancer, both as a monotherapy and in combination with standard treatments. Cantargia’s second lead asset, CANxx, is in preclinical development for autoimmune diseases.
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