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OSE Immunotherapeutics Receives a Milestone Payment of €5.4 Million From Bpifrance for SIRPa-Antagonist Monoclonal Antibody BI 765063
NANTES, France, Sept. 18, 2019 (GLOBE NEWSWIRE) -- OSE Immunotherapeutics SA (ISIN: FR0012127173; Mnémo: OSE) announces today that the Company received a €5.4 million payment from Bpifrance triggered by the successful completion of development milestones related to its collaborative program EFFI-CLIN. This program is focused on evaluating BI 765063*, a SIRPa-antagonist and myeloid checkpoint inhibitor. “This milestone payment reflects the significant progress made with BI 765063, which is currently in clinical development in collaboration with Boehringer Ingelheim. We view today's announcement as an endorsement of the Company’s partnership and collaboration business model based on innovative products candidates for partnerships and public-private collaborative projects generating significant non-dilutive financing. Since early 2019, in addition to this €5.4 million payment, the Company has received a €15 million in payment from BI upon clinical trial authorization and first patient dosed in the Phase 1. Our business model has allowed OSE to successfully advance its research and clinical development projects without the need for dilutive funding since 2015. With four clinical stage products and financial visibility until end of 2020, OSE is today ideally positioned to become one of the leaders of Immunotherapy in Europe,” commented Alexis Peyroles, Chief Executive Officer of OSE Immunotherapeutics. This first milestone of €5.4 million, as part of the EFFI-CLIN “Invest in the Future Program” for BI 765063, was triggered by reaching several steps including initiation of studies characterizing the SIRPa/CD47 axis and determining preclinical efficacy, completion of regulatory preclinical toxicology studies, manufacturing of GMP compliant batches and development of a tool used to characterize the immune profile and biomarkers found in patients. BI 765063, being developed in partnership with Boehringer Ingelheim, is in Phase 1 testing in advanced solid tumors and the first patient was enrolled and dosed in June, 2019. This first-in-human Phase 1 trial is a dose finding study of BI 765063 administered as a single agent and in combination with Boehringer Ingelheim’s monoclonal antibody PD-1 antagonist BI 754091, a T-lymphocyte checkpoint inhibitor. The trial aims to characterize safety, pharmacokinetics, pharmacodynamics and preliminary efficacy of the immunotherapy in patients with advanced solid tumors. * BI 765063, previously OSE-172 ABOUT THE EFFI-CLIN PROGRAM ABOUT Bpifrance With 47 regional offices (90% of decisions are made regionally), Bpifrance offers entrepreneurs a tool for economic competitiveness. Bpifrance works in support of the public policies pursued nationally and regionally by the French government, to meet three objectives:
With Bpifrance, companies have a strong and effective local contact to meet all their financial, innovation and investment needs. For more information, please visit: www.bpifrance.fr–http://investissementsdavenir.bpifrance.fr/–Twitter: @bpifrance ABOUT OSE Immunotherapeutics Click and follow us on Twitter and Linkedln Contacts
Forward-looking statements These forward-looking statements include statements typically using conditional and containing verbs such as “expect”, “anticipate”, “believe”, “target”, “plan”, or “estimate”, their declensions and conjugations and words of similar import. Although the OSE Immunotherapeutics management believes that the forward-looking statements and information are reasonable, the OSE Immunotherapeutics’ shareholders and other investors are cautioned that the completion of such expectations is by nature subject to various risks, known or not, and uncertainties which are difficult to predict and generally beyond the control of OSE Immunotherapeutics. These risks could cause actual results and developments to differ materially from those expressed in or implied or projected by the forward-looking statements. These risks include those discussed or identified in the public filings made by OSE Immunotherapeutics with the AMF. Such forward-looking statements are not guarantees of future performance. This press release includes only summary information and should be read with the OSE Immunotherapeutics Reference Document filed with the AMF on 26 April 2019, including the annual financial report for the fiscal year 2018, available on the OSE Immunotherapeutics’ website. Other than as required by applicable law, OSE Immunotherapeutics issues this press release at the date hereof and does not undertake any obligation to update or revise the forward-looking information or statements. |