(BFM Bourse) – The “monalizumab” molecule developed by French biotech and acquired by AstraZeneca aims to simultaneously boost the activity of two types of immune cells against cancer. The start of a new clinical trial triggers a $50 million milestone payment to Innate, bringing the total amount received at this stage to $450 million. The agreement provides for up to 1.275 billion dollars in favor of Marseille biotech, a record for a listed French biotech.
The kitty continues to climb for Innate Pharma, a biotechnology company founded in 1999 in Marseille-Luminy which seeks to improve the management of cancers thanks to therapeutic antibodies making it possible to better direct the immune system of patients against tumors. Its most advanced product to date, monalizumab (ex-IPH2201) has the particularity of being able to reactivate “NK” cells (natural killers, belonging to the field of “innate” immunity) and T cells (T lymphocytes, which are part of “acquired” immunity) that cancer cells manage to block when a cancer becomes resistant. Its potential convinced AstraZeneca to sign in 2015 the largest agreement to date for the benefit of a listed tricolor biotech. The British pharmaceutical group, which has made the fight against cancer one of its priorities, acquired part of the rights to monalizumab in 2015 (then all of it in 2018) in particular for treatments in combination with its own molecules, in the framework of an agreement that could generate up to 1.275 billion dollars (excluding royalties on any sales), of which 250 million paid upon signature.
Friday, AstraZeneca and Innate announced the treatment of the first patient of a large trial called PACIFIC-9, which could recruit a thousand volunteers. This phase 3 study evaluates the efficacy of durvalumab (Astra product formerly designated MEDI4736) in combination either with monalizumab or with oleclumab (another AstraZeneca antibody, ex-MEDI9447, still under development) in patients with unresectable non-small cell lung cancer whose disease has not progressed after conventional chemo-radiation therapy. As monotherapy, durvalumab (marketed under the brand name Imfinzi) has already produced encouraging results, prolonging disease-free survival by almost a year in the PACIFIC trial, and the British laboratory is seeking to determine whether the clinical benefit can be further improved by combining with one of these two other antibodies.
The treatment of the first patient triggered a $50 million milestone payment from AstraZeneca to Innate, bringing the total amount received so far to $450 million.
The contract provides that AstraZeneca receives future revenues and pays royalties on net sales (at a rate “between low double-digit and mid-teen”, i.e. between 10 and 15%), except in Europe where Innate Pharma will receive 50 % of the profits but will be charged 50% of the losses as the case may be. In addition, biotech finances 30% of the cost of phases 3, within the limit of an undisclosed ceiling.
“Durvalumab has transformed the treatment of patients with unresectable, Stage III, non-small cell lung cancer, and we are excited to extend its clinical benefit through novel combinations with two monoclonal antibodies potentially first-in-class, which demonstrate strong clinical activity. Based on the exceptional results of COAST, we are pleased to start this Phase 3 trial. We hope it will bring new options for treatment to patients and will further increase the potential for cure in this setting,” said Astra’s head of oncology R&D, Susan Galbraith.
Apart from monalizumab, Innate Pharma is conducting advanced trials on lacutamab and avdoralimab, two wholly owned products, and has 6 other projects at earlier stages, some in collaboration with AstraZeneca again or with Sanofi.
On the stock market, the receipt of this new “milestone” from its British partner led to a 12.9% increase in the price of Innate to 2.87 euros, reflecting a capitalization of nearly 230 million euros. euros.
Guillaume Bayre – ©2022 BFM Bourse
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