Combinations with immunotherapies are key to Transgene’s (PA:TRNG) strategy. The company is focused on combining its main assets, TG4010 (cancer vaccine) and Pexa-Vec (oncolytic virus), with immune checkpoint inhibitors (ICIs), ipilimumab (Yervoy) and nivolumab (Opdivo). ICIs as monotherapies have proven successful in patients; however, positive efficacy has been limited to certain cancers and long-term responses remain difficult. Combinations with other immunotherapies may improve both addressable population and long-term efficacy. To this end, Transgene is conducting Phase I and II trials in collaboration with academic institutions and pharmaceutical companies. The first read-outs are expected later this year. Our updated valuation is €208m.
Combination trials underway and planned
Lead assets TG4010 and Pexa-Vec are in two ongoing trials with nivolumab (second-line non-small cell lung cancer (NSCLC) in collaboration with Bristol-Myers Squibb (BMS) and UC Davis) and ipilimumab (solid tumours) respectively, with both expected to read out by year end. A Phase II trial of TG4010, in combination with nivolumab and chemotherapy (in collaboration with BMS), in first-line NSCLC patients with low or undetectable PD-L1 levels is due to start by end 2017 and read out in 2018. Pexa-Vec plus nivolumab will shortly start patient enrolment in a Phase II trial for patients with first-line hepatocellular carcinoma (HCC). A Phase I/II trial of TG4001 in combination with avelumab (PD-L1 ICI) in HPV-positive head and neck cancer (HNSCC) in collaboration with Merck (NYSE:MRK) and Pfizer (NYSE:PFE) will commence in H217.
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