Oryzon Genomics - Positive ALICE readouts pave way in AML

Oryzon Genomics has presented the top-line results of its Phase IIa ALICE trial investigating its lead oncology LSD1 inhibitor iadademstat in combination with azacitidine for the treatment of acute myeloid leukaemia (AML) in newly diagnosed elderly/unfit patients. The study met its primary endpoints of safety and tolerability with no major non-haematological or organ related toxicities reported. Notably, iadademstat also displayed an encouraging efficacy profile, achieving an objective response rate (ORR) of 81% and median overall survival (mOS) of 11.1 months, significantly higher than previously reported values for azacitidine monotherapy (ORR: c 30%; mOS: c 7–8 months). We believe these positive results clearly demonstrate the clinical utility of iadademstat and provide important proof of concept for the drug’s use in the AML setting. We value Oryzon at €847m or €15.5 per share.