Trinity Delta Lighthouse: BerGenBio
Trinity Delta view: The potential of the AXL receptor as an oncology target is being increasingly recognised and validated, and now, emerging preclinical data highlights its role in viral infection. BerGenBio is spearheading advances in AXL biology and its lead asset, bemcentinib, is the most advanced selective oral AXL inhibitor in development. Bemcentinib’s potential utility in treating viral infection was first explored following the SARS and Zika virus outbreaks. Its selection as the first programme in the UK’s flagship ACCORD study provides significant validation of BerGenBio’s development work, raising its global profile materially. Bemcentinib’s two-pronged mechanism of action suggests it has the potential to lower viral load and reduce the sequalae of COVID-19. If efficacy in early COVID infection is demonstrated, this, coupled to its oral administration, could mean bemcentinib has an ideal profile for use in the community setting (pre-hospitalisation), which has positive clinical and health economics repercussions. Our current BerGenBio valuation is NOK3.54bn ($339m) or NOK48.31/share, excluding any contribution for bemcentinib’s potential in treating COVID-19.BerGenBio is a clinical stage biopharmaceutical company focused on developing innovative drugs for aggressive, drug resistant cancers. Co.'s lead product, BGB324, is a selective, potent and orally available small molecule AXL inhibitor. It is in Phase II clinical development, as a single agent and in combination with marketed immuno-oncology drugs, in three cancer indications with potential: Acute myeloid leukaemia; Advanced non-small-cell lung cancer and Triple negative breast cancer. Co. is also developing a diversified pre-clinical pipeline of selective AXL inhibitors, including biologics and small molecules.
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