Oryzon Genomics - IND granted for collaborative Phase II trial
Oryzon Genomics announced that it has received FDA investigational new drug (IND) approval for the initiation of a collaborative Phase II trial investigating the use of the company’s LSD1 inhibitor, iadademstat, in the treatment of relapsed and refractory (r/r) neuroendocrine carcinomas (NECs). The trial will be conducted in collaboration with the Fox Chase Cancer Center, with Oryzon providing funding, iadademstat and technical advice. r/r NECs (of which it is estimated that 22–27% are small cell lung cancers, SCLCs) are highly aggressive tumours for which there are limited treatment options, meaning prognosis is often poor. In the new trial, iadademstat will be investigated in combination with other therapeutics that have shown activity in NECs. In our view, the IND approval represents an important event for Oryzon as the company continues to maximise the utility of iadademstat. We value Oryzon at €861m or €16.2 per share.Oryzon Genomics SA is a Spain-based biopharmaceutical company. It is engaged in the field of epigenetic medicine and in the development of therapeutic, biological solutions for cancer and neurodegenerative diseases. The Company's business model focuses on identifying biomarkers that can be translated in new therapeutic targets, as well as on investing in programs, mainly through the development of small molecules for two main indications: cancer and neurodegeneration. The Company develops investigational medicines till proof of concept (POC) phase and then partners the program with pharmaceutical entities, which are able to get the approval from drug agencies to bring these medicines to the patients. It cooperates with Roche. The Company is a subsidiary of Laboratorio Reig Jofre SA.
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