by Jakub Jarolím, Business Intelligence Department
SOTIO Biotech
27/12/2022
by Jakub Jarolím, Business Intelligence Department
Market
Stocks saw broad gains after Federal Reserve Chair Jerome Powell confirmed that the central bank will slow the pace of its aggressive rate-hiking campaign that has weighed on markets. The Dow Jones Industrial Average closed up 737 points, or 2.18%. Meanwhile, the NBI added 6%.
Antibody-Drug Conjugates
FDA granted accelerated approval to Elahere mirvetuximab soravtansine-gynx from ImmunoGen to treat a subpopulation of platinum-resistant ovarian cancer patients, the first approval of an ADC to treat the disease, and the first of a program wholly owned by ImmunoGen.
Interleukin-15 and Interleukin-2
A proposed separation of Alkermes’ oncology business into a new public company will offer investors optionality around a late-stage clinical asset and preclinical pipeline, while giving the biotech’s core neuroscience business a path to profitability as a stand-alone entity.
Among the factors driving the decision to explore a spinout is the Inflation Reduction Act fundamentally shifting the relative economic value of biologic medicines of cancer.
Cell Therapies
Allogene is making a durability case for its most advanced CAR T cell program amid rising doubts that off-the-shelf cancer cell therapies will be able to generate the long-term, curative effects seen with autologous products.
Other Innovative Treatment Areas
AstraZeneca gained its second approval in a matter of weeks for Imfinzi durvalumab in combination Imjudo tremelimumab, with FDA approving the drugs with platinum-based chemotherapy to treat metastatic NSCLC.
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