Cantargia - Excellent end to the year
Over the past several weeks Cantargia has reported positive interim data from the ongoing Phase IIa trial with lead asset CAN04, an anti-IL1RAP antibody targeting the IL-1 pathway, announced the first clinical trial in the US and introduced CAN10, a preclinical project in inflammation uniquely targeting three interleukin pathways, IL-1, IL-33 and IL-36. Two days after the introduction of CAN10, J&J’s Janssen announced the acquisition of bermekimab from the US-based XBiotech for an impressive $750m upfront and $600m in potential milestones. The mechanism of action of bermekimab, which is in mid-stage clinical trials as an anti-inflammatory anti-IL-1-alpha antibody, partially overlaps with that of CAN10. Our Cantargia valuation is SEK2.94bn or SEK40.4/share (virtually unchanged).Cantargia AB is a Sweden-based company engaged in development of antibody therapeutics for the treatment of leukemia. The Company is engaged in the development of a therapy for the treatment of cancer by targeting a cell-surface receptor on malignant stem cells, through the development of antibody therapeutics for eradication of malignant stem cells. Cantargia AB uses the Interleukin-1 receptor accessory protein (IL1RAP), as the target for development of a novel antibody-based therapy for leukemia.
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