By Connor Hart
Shares of Indaptus Therapeutics rose after the company said it reached an agreement with BeiGene to evaluate novel cancer treatment combinations.
The stock gained 14% to $1.68 in afternoon trading Tuesday. Shares are down 6.8% since the beginning of the year.
Under Indaptus' clinical supply agreement with BeiGene, the New York biotechnology company plans to advance human clinical evaluation of its cancer treatment -- called Decoy20, which is being studied as a treatment for various cancers, such as liver, colon and pancreatic -- in combination with BeiGene's anti-PD-1 antibody, called tislelizumab.
Preclinical studies showed that Decoy20, when used in combination with a PD-1 inhibitor and an oral non-steroidal anti-inflammatory agent, demonstrated tumor eradication rates of between 80% and 100%, Indaptus said.
Terms of the agreement weren't disclosed. As part of the pact, BeiGene will provide Indaptus with access to its PD-1 inhibitor, as well as provide technical expertise to accelerate the first clinical trial of the two drugs.
Indaptus said it will seek Food and Drug Administration approval to initiate a combination trial, which is anticipated to begin in 2025.
Chief Executive Jeffrey Meckler said the agreement marks a step forward in the search for curative cancer treatments, as well as a milestone for the company. "We are optimistic that we can improve outcomes by broadly and safely stimulating the immune system in a way that could enhance overall effectiveness of currently approved cancer treatments," he said.
Shares of BeiGene edged 0.3% higher to $220.49.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 22, 2024 14:24 ET (18:24 GMT)
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