OSE Immunotherapeutics - OSE-127 encouraging preclinical data in ALL

OSE Immunotherapeutics (OSE) has reported positive preclinical efficacy data for its novel monoclonal antibody therapy OSE-127 in B- and T-cell acute lymphoblastic leukaemia (ALL) disease models. OSE-127 was found to display efficacy signals as a monotherapy in 96% of B- and T-ALL patient-derived xenografts, which included samples from difficult-to-treat relapsed/refractory (r/r) patients. Additionally, details of OSE-127’s unique dual mechanism of action were elucidated, potentially providing differentiation over existing therapies. OSE-127 is being investigated in Phase II studies for the treatment of primary Sjögren’s syndrome and ulcerative colitis and while we acknowledge preclinical results may not translate into clinical utility, the latest data provide encouraging signs for the potential expansion of OSE-127 into additional indications. We continue to value OSE at €398.4m or €21.5 per share.