OSE Immunotherapeutics - First patient dosed with FR104/VEL-101
OSE Immunotherapeutics has announced that the first participant in a Phase I study has been dosed with the company’s CD28-targeting antibody fragment, FR104 (VEL-101). The study will assess the safety, tolerability and pharmacology of single ascending doses of FR104 in healthy volunteers and is designed to inform further Phase II trials in the kidney transplant population. The trial is sponsored and conducted by OSE’s partner, Veloxis Pharmaceuticals, which specialises in transplant medicine. Clinical data from the trial, especially information surrounding subcutaneous injection administration, will add to safety data gathered by OSE in the FIRsT Phase I/II trial in kidney transplant patients, which began in April 2021. We see this as an encouraging development for OSE and for the development of FR104. Our valuation remains unchanged at €319m or €17.5 per share.Ose 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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