Full Press Release Details
ASX/Media Release (Code: ASX: IMM; NASDAQ: IMMP)
IMMUTEP TO RECEIVE 4M MILESTONE PAYMENT FROM GSK
SYDNEY, AUSTRALIA 23 September 2019 Immutep Limited (ASX: IMM; NASDAQ: IMMP) ( Immutep or
the Company ), a biotechnology company developing novel immunotherapy treatments for cancer and autoimmune diseases, announces that it will receive a milestone payment from GSK of 4 million (~A$7.39 million) related to the
first patient being dosed in GSK s Phase II clinical trial evaluating GSK2831781 in ulcerative colitis.
GSK2831781 is derived from Immutep s
IMP731 antibody, a depleting anti-LAG antibody technology that was exclusively licensed to GSK. Under the terms of the agreement, Immutep is eligible to receive up to 64 million (~A$118.17 million)
in developmental milestone payments as well as single-digit tiered royalties, if GSK2831781 is commercialized. GSK is responsible for all costs associated with the clinical development and commercialization of GSK2831781.
Immutep CEO Marc Voigt, said: It is very encouraging to see GSK advancing their product candidate in a phase II clinical trial for ulcerative colitis,
further validating LAG-3 as a potential target for therapeutics in autoimmune diseases. These partner milestone payments are an important source of nondilutive funding to the Company and this capital will be deployed to further advance our extensive
development programs.
Further details of the Phase II GSK trial can be found at:
About IMP731 and GSK2831781
depleting anti-LAG antibody that was derived from IMP731 and was licenced to GSK in 2010.
GSK2831781 are designed to specifically deplete potentially pathogenic, recently activated LAG-3 expressing T cells which are enriched at the disease site in T cell driven immuno-inflammatory disorders
and should spare other T cells which may be necessary for other functions.
Immutep is a globally active biotechnology company that is a leader in the development of immunotherapeutic products for the treatment of cancer and autoimmune
disease. Immutep is dedicated to leveraging its technology and expertise to bring innovative treatment options to market for patients and to maximise value to shareholders.
Immutep s current lead product candidate is eftilagimod alpha ( efti or IMP321 ), a soluble
LAG-3Ig fusion protein based on the LAG-3 immune control mechanism. This mechanism plays a vital role in the regulation of the T cell immune response. Efti is currently
in a Phase IIb clinical trial as a chemoimmunotherapy for metastatic breast cancer termed AIPAC (clinicaltrials.gov identifier NCT02614833); a Phase II clinical trial referred to as TACTI-002 (Two ACTive
Immunotherapies) to evaluate a combination of efti with KEYTRUDA
(or pembrolizumab, an anti-PD-1 therapy) in several different solid tumours (clinicaltrials.gov identifier
NCT03625323); a planned Phase I clinical trial referred to as INSIGHT-004 to evaluate a combination of efti with avelumab (clinical trials.gov identifier NCT03252938); and a Phase I combination therapy trial
in metastatic melanoma termed TACTI-mel (clinicaltrials.gov identifier NCT02676869).
Additional LAG-3 products,
including antibodies, for immune response modulation in autoimmunity and cancer are being developed by Immutep s large pharmaceutical partners. Immutep is also developing an agonist of LAG-3 (IMP761) for
Immutep is listed on the Australian Securities Exchange (IMM), and on the NASDAQ (IMMP) in the United States.
Further information can be found on the Company s website www.immutep.com or by contacting:
Jay Campbell, Chief Business Officer,
+1 (917) 860-9404; jay.campbell@immutep.com
Garth Russell, LifeSci Advisors
+1 (646) 876-3613; garth@lifesciadvisors.com
Australian Investors/Media:
Matthew Gregorowski, Citadel-MAGNUS