Report
Dr Jonas Peciulis

OSE Immunotherapeutics - A change of pace with three new clinical trials

OSE has seen several positive developments in its pipeline over the past few months including the initiation of three new partnered clinical trials: a Phase I study with OSE-127 (Servier), a Phase I study with BI 765063 (previously OSE-172, Boehringer Ingelheim) and a Phase II study with Tedopi in pancreatic cancer (GERCOR). Two milestones were triggered totalling €19.5m, and an extra €7.5m is expected in H119 from BI. OSE also announced a new bispecific platform (pre-clinical), which it plans to feed with novel targets identified from a new collaboration with Léon Bérard Cancer Center. Our valuation is slightly higher at €190m or €12.8/share.
Underlying
OSE Immunotherapeutics SA

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Dr Jonas Peciulis

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