Update: IMP321 set to progress into Phase IIb study
Prima Biomed is well positioned to push forward with the clinical development of its promising LAG3 programme following an A$25m fund raising and encouraging scientific advice from the EMA for its upcoming Phase IIb trial of IMP321 in metastatic breast cancer. Novartis and GSK have recently commenced clinical trials of partnered LAG3 programmes, providing additional validation for the LAG3 technology that Prima obtained with the 2014 acquisition of Immutep. We lift our valuation to A$271m (vs A$199m) with the inclusion of the Novartis LAG3 programme now that it has entered the clinic, and a melanoma indication for IMP321.
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