Inecalcitol shows promise in CML, R&D refocus

Hybrigenics’ main focus is the development of inecalcitol as a niche treatment for leukaemia. In February it presented encouraging initial results for inecalcitol in combination with oral imatinib in chronic myeloid leukaemia (CML), with 43% of patients responding in a Phase II study that will complete in H218. A Phase II trial in acute myeloid leukaemia (AML) is ongoing with data expected in H119. Inecalcitol is Phase III-ready for chronic lymphocytic leukaemia (CLL) where it slowed progression in half of patients. The company has sold the proteomic services division and refocused on biopharma R&D. Our valuation is €141m; net cash at end 2016 was €8.5m.