Prima Biomed Set To Progress Into Phase II Study
Edison | Oct 19, 2015 08:12AM ET
IMP321 set to progress into Phase IIb study
Prima Biomed Ltd (AX:PRR) is well positioned to push forward with the clinical development of its promising LAG3 programme following an A$25m fund raising and encouraging scientific advice from the EMA for its upcoming Phase IIb trial of IMP321 in metastatic breast cancer. Novartis AG (N:NVS) and GlaxoSmithKline PLC (N:GSK) have recently commenced clinical trials of partnered LAG3 programmes, providing additional validation for the LAG3 technology that Prima obtained with the 2014 acquisition of Immutep. We lift our valuation to A$271m (vs A$199m) with the inclusion of the Novartis LAG3 programme now that it has entered the clinic, and a melanoma indication for IMP321.
Novartis moves IMP701 programme into the clinic
Novartis has initiated a Phase I trial of LAG525, its humanised version of Prima’s IMP701 antagonist anti-LAG-3 antibody, triggering a modest milestone payment. Novartis will trial LAG525 in cancer patients both as a single agent and in combination with its immune checkpoint inhibitor PDR001, underscoring the potential benefits that it sees from targeting LAG3.
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