Compugen to Receive $10 Million Milestone Payment Following Dosing of First Patient in AstraZeneca Phase 3 Rilvegostomig Trial in Biliary Tract Cancer
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Insights
The announcement of Compugen receiving a $10 million milestone payment from AstraZeneca marks a significant financial event for the company. This influx of capital is likely to be reflected in Compugen's cash flow statements, potentially improving its liquidity position. For investors, this event not only indicates a successful partnership and progress in the development pipeline but also provides a tangible measure of the company's ability to monetize its research and development efforts. A milestone payment of this magnitude can be a positive signal to the market, possibly affecting Compugen's stock valuation. It is essential to monitor subsequent financial reports to assess how this payment impacts the company's overall financial health and its ability to fund ongoing and future projects.
The initiation of dosing in AstraZeneca's ARTEMIDE-Bil01 trial with rilvegostomig, a PD-1/TIGIT bispecific antibody, is a pivotal step in the clinical development process. The TIGIT component, derived from Compugen's COM902, represents an innovative approach in cancer immunotherapy, aiming to enhance the immune response against cancer cells. The success of this trial could have far-reaching implications for the treatment landscape of various cancers. It is crucial to analyze the trial's design, patient recruitment strategies and endpoints to forecast its potential success and market impact. Should rilvegostomig demonstrate efficacy and safety, it could become a significant contributor to both AstraZeneca's and Compugen's product portfolios, with the possibility of addressing a substantial market need.
The strategic collaboration between Compugen and AstraZeneca, evidenced by the milestone payment, indicates a robust interest in bispecific antibodies within the biotech industry. Bispecific antibodies like rilvegostomig are a growing segment of cancer immunotherapy, with the potential to offer improved treatment options over traditional monotherapies. The market for such therapies is expanding and the successful advancement of rilvegostomig through clinical trials could position both companies favorably within this competitive space. It is important to evaluate the current market size for PD-1/TIGIT therapies, the projected growth based on unmet medical needs and the potential market share that rilvegostomig could capture. This milestone event could also attract additional partnerships or investments for Compugen, influencing its market position and future growth trajectory.
HOLON,
"I am delighted to see the advancement of the rilvegostomig Phase 3 trial by AstraZeneca, a global leader in oncology, which has dosed the first patient triggering a
About the Compugen-AstraZeneca license agreement
In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen's monospecific antibodies that bind to TIGIT, including COM902, for the development of bispecific and multispecific antibody products, excluding such bispecific and multispecific antibodies that also bind to PVRIG, PVRL2 and/or TIGIT. AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. In addition to the
Further details about ARTEMIDE-Bil01 trial are available on ClinicalTrials.gov, identifier: NCT06109779
About Compugen
Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable predictive computational discovery capabilities to identify new drug targets and biological pathways for developing cancer immunotherapies. Compugen has developed two proprietary product candidates: COM701, a potential first-in-class anti-PVRIG antibody and COM902, a potential best-in-class antibody targeting TIGIT for the treatment of solid tumors. Compugen also has a clinical stage partnered program, rilvegostomig (previously AZD2936), a PD-1/TIGIT bispecific antibody where the TIGIT component is derived from Compugen's clinical stage anti-TIGIT antibody, COM902, in Phase 3 development by AstraZeneca through a license agreement for the development of bispecific and multispecific antibodies. In addition, the Company's therapeutic pipeline of early-stage immuno-oncology programs consists of programs aiming to address various mechanisms of immune resistance, of which the most advanced program, COM503, is in IND enabling studies is licenced to Gilead. COM503 is a potential first-in-class, high affinity antibody which blocks the interaction between IL-18 binding protein and IL-18, thereby freeing natural IL-18 in the tumor microenvironment to inhibit cancer growth. Compugen is headquartered in
Forward-Looking Statement
This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations, and assumptions of Compugen. Forward-looking statements can be identified using terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements relating to the recruitment of subjects to the ARTEMIDE-Bil01 trial. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance, or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's business model is substantially dependent on entering into collaboration agreements with third parties and Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model; Compugen's approach to the discovery of therapeutic products is based on its proprietary computational target discovery infrastructure, which is unproven clinically; Compugen does not know whether it will be able to discover and develop additional potential product candidates or products of commercial value; and the general market, political and economic conditions in the countries in which Compugen operates, including
Company contact:
Yvonne Naughton, Ph.D.
Head of Investor Relations and Corporate Communications
Email: ir@cgen.com
Tel: +1 (628) 241-0071
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