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)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。