Strategic alliance validates TCR technology
Medigene has announced an alliance with bluebird bio, a prominent T-cell immunology company. It is Medigene’s first commercial partnering agreement based on its proprietary T-cell receptor (TCR) technology platform. The collaboration will seek to identify four TCR therapeutic candidates against four targets. This is a positive development as it validates Medigene’s TCR technology and makes use of technological synergies to develop new immuno-oncology products, which could prove beneficial. Importantly, it does this while retaining all rights for its proprietary TCR development programme and TCR library. We have increased our valuation to €233m (vs €219m), as we have rolled the model forward to an estimated Q3 position and included the upfront payment.Medigene is a biopharmaceutical company that focuses on the research and development of drugs to treat cancer and autoimmune diseases. Co.'s segments are: marketed products and drug candidates. Co.'s marketed products segment consists of the drug Veregen®, which is an ointment for the treatment of external genital warts. Co.'s drug candidates segment consists of: EndoTAG®-1, which is for the indication pancreatic cancer and triple-negative breast cancer; RhuDex®, which is a modifying agent for the oral treatment of autoimmune diseases; and adeno-associated virus-like particles, which provides potential as prophylactic and therapeutic vaccines, for example, against cancer and infections.
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