OSE Immunotherapeutics - OSE-127 Phase II study enrolment completed

OSE Immunotherapeutics (OSE) completed patient recruitment in its Phase IIa study (NCT04605978) investigating its monoclonal antibody therapy, OSE-127/S95011, for the treatment of the autoimmune disease, primary Sjögren’s syndrome (pSS). The trial is sponsored and conducted by OSE’s partner, Servier, and will look to assess the efficacy and safety of OSE-127 in pSS patients with readouts expected in FY23. The drug has already demonstrated a promising safety and tolerability profile in a Phase I study in healthy volunteers. Existing standard-of-care regimes for pSS only treat symptoms of the condition. However, OSE-127 is being developed with the objective of becoming the first disease-modifying therapy for pSS, which may offer significant market differentiation, in our view. We continue to value OSE at €398.4m or €21.5 per share.