Ultimovacs - Positive Phase I survival data in melanoma
Ultimovacs has announced positive two-year overall survival (OS) data from a Phase I study (n=30) of UV1, a potential universal cancer vaccine, in combination with PD-1 immunotherapy (pembrolizumab, Merck) for the treatment of malignant melanoma. In this, the UV1/pembrolizumab combination demonstrated a 73% two-year OS rate, adding to data reported in March 2022 showing a complete response rate of 33% and an objective response rate (ORR) of 57%. Patients will be followed for further long-term survival data and management expect to report three-year OS data for the first cohort (n=20) in Q422. We continue to see the UV1/pembrolizumab combination in malignant melanoma as a potentially significant opportunity for the company. We value Ultimovacs at NOK6.90bn, or NOK202/share.Ultimovacs ASA Formerly known as Ultimovacs AS. Ultimovacs ASA, formerly Ultimovacs AS, is a Norway-based pharmaceutical company developing immunotherapies against cancer. The Company's lead product candidate is UV1, a peptide-based vaccine inducing a specific T cell response against the universal cancer antigen telomerase. UV1 is being developed as a therapeutic cancer vaccine which may serve as a platform for use in combination with other immuno-oncology drugs which require an ongoing T cell response for their mode of action. The Company is performing a broad clinical development program with clinical trials in Europe and the USA.
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