Seeking partners for novel ADC technology
Wilex's (DE:WL6G) subsidiary, Heidelberg Pharma, is developing antibody-targeted amanitin conjugates (ATACs), which are differentiated from first-in-class, and developing antibody drug conjugates by potential efficacy against dormant and proliferating tumours. The investment case rests on the new partnerships for the ATAC pipeline and on clinical partnering progress for renal cancer programmes. Our DCF valuation is €41m.
The power of ATACs
Wilex’s ATACs use the toxin α-Amanitin from the green death cap mushroom. The principle of anti-cancer antibody drug conjugates (ADCs) is to use the very high specificity of antibodies and link them to toxic small molecules. ATACs could prevent tumour relapse and resistance in slower-growing tumours, while many ADC technologies block only proliferating tumour cells. Wilex has a proprietary preclinical pipeline of undisclosed ATACs. Separately, it is developing ATACs against prostate-specific membrane antigen (PSMA) in prostate tumours.
Seeking out new ventures
In August, Roche (OTC:RHHBY) communicated its strategic decision to discontinue its ATAC collaboration with Heidelberg Pharma. The decision was chiefly based on Roche’s immunotherapy focus, despite very good progress made in the ATAC collaboration. Wilex continues to seek new alliances for its proprietary pipeline based on its pioneering approach in ADC cancer therapy. Preclinical results published in Nature this year are likely to assist Wilex in its discussions with future licence partners. The clinical pipeline includes uPA inhibitor Mesupron out-licensed in oncology. Wilex seeks separate partners to progress its Phase III clear cell renal cancer products.
To Read the Entire Report Please Click on the pdf File Below