The anti-TIGIT bispecific antibody AGEN-1777’s preclinical status didn’t stand in the way of Bristol Myers Squibb Co.’s whopper deal with Agenus Inc., which is collecting $200 million up front and as much as $1.36 billion in potential milestone payments in trade for development and commercial rights to the Fc-enhanced compound.
As part of its ongoing investigation into what it considers excessive price increases for some prescription drugs, the U.S. House Oversight Committee plans to put Abbvie Inc. CEO and Chairman Richard Gonzalez on the hot seat May 18 for a grilling on the company’s pricing of Humira and Imbruvica.
As investors await interim data this quarter from Arcus Biosciences Inc.’s ARC-7 phase II effort with domvanalimab (AB-154) in non-small-cell lung cancer, the anti-TIGIT space continues to bubble, with Wall Street busy trying to sort out the odds of various players.
Soteria Biotherapeutics Inc., a company developing switchable bispecific T-cell engagers to treat patients with solid tumors, has raised $42 million in series A financing to fund early development of a pipeline of candidates with potential in validated cancer targets, it said. Roche Venture Fund and 5AM Ventures led the round, with further investments from M Ventures, Novartis Venture Fund and Alexandria Venture Investments.
Shanghai-based Elpiscience Biopharmaceuticals Co. Ltd. raised $105 million in a series C financing round to move candidates, starting with an anti-CD39 antibody, into clinical studies in the U.S. The funds will also support the company’s efforts in finding new mechanisms for cancer immunotherapy and potential partners, it said.
Allogeneic chimeric antigen receptor T cell (AlloCAR T) specialist Allogene Therapeutics Inc.’s promise of data readouts at this year’s American Society of Clinical Oncology meeting, along with the virtual CD19 forum slated by the company for May 19, whetted investor thirst in the space.
The potential for using real-world data (RWD) to support the development of cancer drugs for children has yet to be realized as researchers, sponsors and regulators continue to struggle with the collection of meaningful data.
Business development among biopharmaceutical companies working on therapeutics for cancer indications has been brisk this year, with 32% of the 654 deals recorded to date by BioWorld involving cancer indications. However public companies in the area haven’t gained much investor enthusiasm, with the BioWorld Cancer index dropping over 18% year-to-date, with 6% of the loss in valuation taking place this month.
While acknowledging the net health benefit over standard of care in heavily pretreated multiple myeloma patients, CAR T-cell therapies Abecma (idecabtagene vicleucel) and ciltacabtagene autoleucel (cilta-cel) represent low long-term value at their current pricing levels, according to the Institute for Clinical and Economic Review (ICER) in a final evidence report released May 11.
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