Mendus - Planning the route forward for vididencel in AML
Mendus’s Q123 report provided an insight into the strategic next steps for its lead cancer vaccine, vididencel (DCOne), as the company pursues a clinical path in the acute myeloid leukaemia (AML) maintenance setting. Following the positive results from the Phase II ADVANCE II study, Mendus intends to initiate a follow-on Phase II study in H223, investigating the combination of vididencel with oral azacitidine (current standard of care, SoC) as an AML maintenance treatment regime. It had previously been reported that Mendus may look to explore vididencel as a maintenance treatment in patients post-hematopoietic stem cell transplantation (HSCT). However, with no maintenance therapy indicated in post-HSCT, to date, and the potential for synergistic efficacy enhancements with SoC oral azacitidine, we view Mendus’s prioritisation of the combination study as a sensible strategic decision. We have adjusted our forecasts, but our valuation of Mendus remains largely unchanged at SEK1.8bn or SEK9.19/share (previously SEK1.8bn or SEK9.07/share).Immunicum AB is a Sweden-based company principally engaged in the biopharmaceutical sector. The Company develops immunotherapy for therapeutic treatment of cancer and infectious diseases. The Company uses therapeutic vaccines to treat an already existing disease and is thus given to the already sick patients; therapeutic cancer vaccines administered to patients in order to delay or stop tumor cell growth, shrink tumors, prevent relapse, or to kill cancer cells that could not be eliminated with other treatments. The Company has several technology platforms, such as The Combig, Intuvax@, Subcuvax@ and The CD70, among others. The Company has several projects which are related to kidney cancer and liver cancer, among others.
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