Glaxo pays handsomely to join the Tigit chase

Snippets

That Glaxosmithkline was prepared to part with $625m up front for Iteos’s phase 1 anti-Tigit MAb EOS-448 shows that the pharma giant considers this a "must own" immuno-oncology mechanism. The terms point to a highly competitive process, which also means that there must be other large developers shopping in this space. The big three I-O players already have assets in their pipelines, but there are plenty of others, like Astrazeneca and Pfizer, that would presumably be interested. That is great for news for those unencumbered projects, and it is no coincidence that Mereo shares opened up 15% today, a surge that soon settled down to a 5% rise. Still, while the Glaxo-Iteos deal sounds rich, it is worth remembering that the small biotech has agreed to pay 40% of the R&D costs associated with an “aggressive” pre-agreed global development plan; in return, Iteos will jointly commercialise EOS-448 in the US and get 50% of the profits from the region. A further $550m is available if certain clinical and regulatory hurdles are crossed, with another $900m attached to sales milestones. The tiny Belgian developer has long been a proponent of Tigit, and this deal certainly justifies its enthusiasm: Iteos shares surged 30% in early trade.

Chasing Tigit: few unencumbered assets remain
Project

Company

Project source and status

Available to the highest bidder?
Ociperlimab Beigene In-house; wholly owned, in ph3
Etigilimab Mereo Oncomed originated; Celgene turned down option in July 2019, now wholly owned, in ph1/2
IBI939 Innovent In-house; wholly owned, in ph1
SGN-TGT Seagen In-house; wholly owned, in ph1
COM902 Compugen In-house; wholly owned, in ph1
AGEN1327 Agenus In-house; wholly owned, preclinical 
Already wrapped up…
Tiragolumab  Roche In-house; wholly owned, in ph3
Vibostolimab Merck & Co In-house; wholly owned, in ph3
Domvanalimab Arcus Gilead option; data and decision due soon. Otsuka owns certain Asia rights, in ph2/3
BMS-986207 Bristol Myers Squibb In-house; Ono owns certain Asian rights, in ph1/2
M6223 Merck KGaA In-house; wholly owned, in ph1
EOS-448 Iteos Licensed to Glaxo in Jun 2021 deal, in ph1
AGEN1777 (bispecific) Agenus/Bristol Myers Squibb Licensed to Bristol Myers in May 2021, preclinical
AB308 Arcus Gilead has an option under a 2020 deal, in ph1
JS006 Junshi/Coherus Junshi originated; Coherus bought an option over the project in a Feb 2021 deal. Preclinical.
Source: Evaluate Pharma & company presentations.  

(This story has been updated to include the Junshi Tigit project.) 

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