OSE Immuno - EUR 8.4m in non-dilutive funding for Tedopi Ph3
• OSE announced that they received > EUR 8m in public funding from BPI. • This money comes on top of the EUR 1.5m the company received mid-'23 to support the development of a companion diagnostic test for HLA-A2. Also, remember that part of the USD 48m upfront payment stemming from the AbbVie collab will be allocated to the Ph3 study. While OSE can comfortably launch the Ph3, we expect a need for the company to raise additional funds to complete the study. • We stick to our Buy rating on the company in light of the upside (Tedopi makesOse Immunotherapeutics SA, formerly Orphan Synergy Europe Pharma SA, is a France-based company principally engaged in the clinical stage biotechnological sector. The Company develops immunotherapy products against invasive or metastatic late-stage cancers. The Company offers a technology, called Memopi, which helps the immune system to eliminate malignant cells; it re-educates the body's immunological memory so that the immune system (and particularly T cytotoxic cells) attacks tumor cells by increasing the patient's specific cytotoxic T response against their cancer. The Company's main product, Texopi, is a patented combination of ten epitopes, selected and optimized from five tumor associated antigens.
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