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- Shares in Imugene (IMU) have slid to their lowest price in a year following the termination of a supply agreement with MSD
- The parties joined forces in March to collaborate on a clinical trial assessing the safety and efficacy of IMU’s HER-Vaxx immunotherapy in combination with MSD’s anti-PD1 therapy
- While the partnership was expected to run for two years, IMU today told investors the agreement had been terminated, but it didn’t say why
- Despite the cancellation, the company says its clinical trial will continue
- Shares dropped 9 per cent to trade at 20 cents at 1:45 pm AEST
Shares in Imugene (IMU) have slid to their lowest price in a year following the termination of a supply agreement with MSD.
The company partnered with Merck Sharp and Dohme (MSD), a tradename of Merck & Co, in March to collaborate on a clinical trial assessing the safety and efficacy of IMU’s HER-Vaxx immunotherapy in combination with MSD’s anti-PD1 therapy, pembrolizumab, in patients with HER-2 positive gastric cancer.
The agreement was expected to run for an indefinite term until final reports of the study were complete, which was anticipated to be in two years.
In its March announcement, Imugene said the collaboration was significant for the company as it provided an opportunity to “optimise and enhance” its formulations in an effort to improve outcomes for patients.
Imugene has not provided a reason for the termination but said in an announcement to investors its clinical trial would continue.
“Imugene is continuing with its clinical trial to evaluate the safety and efficacy with the use of Imugene’s HER-Vaxx, a B-cell activating immunotherapy in patients with HER-2 positive gastric cancer in combination with anti-PD-1 therapy,” the statement clarified.
Shares dropped 9 per cent to trade at 20 cents at 1:45pm AEDT.
