OSE Immunotherapeutics Provides Business and Corporate Update
NANTES, France, May 30, 2024 – 6:15pm CET – OSE Immunotherapeutics SA (ISIN: FR0012127173; Mnemo: OSE), today provided business and corporate update after reinforcement of the Company’s business-model based on strategic pharmaceutical partnerships following the three recent new agreements concluded with AbbVie and Boehringer Ingelheim. These steps allow strategy implementation relying on both proprietary late-stage immunotherapy assets in oncology (Phase 3 in NSCLC to be launched) and inflammation (Phase 2 in Ulcerative Colitis with other potential indications), and in accelerating and strengthening first-in-class preclinical programs from its innovative discovery platforms.
A strategic evolution of the Board of directors will be presented at the next General Shareholders’ meeting with seasoned pharmaceutical and global executives who will reinforce the Company’ international positioning.
Nicolas Poirier, Chief Executive Officer of OSE Immunotherapeutics, comments: “We achieved major industrial partnerships from our differentiated immunological pipeline and our sustainable innovation engine. Our business-model, which is based on recurrent and strategic pharmaceutical partnerships, has been reinforced and allows us to develop our first-in-class clinical late-stage multi-products. We look forward to reaching new milestones in 2024, a transformative year for the Company with potential clinical inflection points from our proprietary and partnered assets, the anti-IL-7R monoclonal antibody Lusvertikimab in Phase 2 in Ulcerative Colitis and cancer vaccine Tedopi® in pivotal Phase 3 in Non-Small Cell Lung Cancer. We are preparing the next steps of the Company’s growth via our promising preclinical programs in immuno-inflammation and immuno-oncology.”
Dominique Costantini, Chairwoman of OSE Immunotherapeutics, comments: “In just a few years, we have built a fully integrated biotech company with a rich and differentiated drug-candidate portfolio of both proprietary and partnered programs with pharmaceutical companies, highly recognized as experts in their development fields and markets. The OSE team has already delivered significant achievements and is working to discover and develop innovative immunotherapies. All these significant milestones position 2024 to be a transformational year for OSE with the ambition to become one of the key European biotechs in immunotherapy. We propose a strategic evolution of the Board of directors with both highly experienced and international pharmaceutical and financial experts who will be able to support the Company in its future strategic choice growth.”
Corporate Evolution
Four new independent directors will be proposed to the General Shareholders’ meeting on June 19:
Markus Goebel, MD, PhD, MBA
Markus is a seasoned executive with 30+ year experience in the Life Science industry. He has deep understanding and broad hands-on experience across the entire value chain in various Pharma and Bio/Medtech positions including as a board member. Managing Director Novartis Venture Fund (2004-2019) in the United States & Europe with a top quartile track record. He is also founder & CEO of M&G Advisors GmbH (Bio-and Medtech consulting with a focus to fundraising and transactions). He completed his MBA with dissertation on innovation in the pharma industry to characterize blockbuster drugs. He is a certified MD in Oncology/Haematology (plus additional certifications) with more than 10 years in academia.
Martine George, MD, M.Sc.
Martine has a rich pharma and academic international expertise mainly in the United States. She is a proven leader of large development teams for global Fortune 500 pharmaceutical organizations and small biotechnology companies. She was Principal, Senior Executive consultant, Life Sciences in Global Development Associates, Inc., Skillman, NJ, a key contributor to strategies leading to multiple drug regulatory approvals or licensing/acquisitions and significant M&A. She was Vice President, Global Medical Affairs, Oncology, at Pfizer Inc., New York, NY, driving global medical strategy and worldwide medical affairs and reimbursement activities for oncology drugs. Previously, she served as Senior Vice President, Drug Development and Chief Medical Officer at GPC Biotech Inc., Princeton; Senior Vice President, Head of Oncology at Johnson & Johnson, Raritan, NJ; and Vice President, Medical Affairs at Rhone-Poulenc Rorer (Sanofi-Aventis), Collegeville, PA. She began her carreer at Sandoz Pharmaceuticals Corporation (Novartis), East Hanover, NJ, and previously at American Cyanamid Pearl River, NY. She has a strong expertise in clinical research, medical affairs, and regulatory affairs specializing in oncology and other therapeutic areas. Her extensive Board experiences were also acquired in large and small companies; in public and private (i.e Phaxiam/ Erytech/ GammaMabs/ Cytomics, Inc/ Non-for-profit organizations Breast Cancer Research Foundation, New York, NY/Ressource Center for Women & Their Families, Hillsborough, NJ).
Cécile Nguyen-Cluzel:
Cécile has extensive experience in financial engineering and healthcare private equity. After nearly 30 years investing in French small cap funds (Initiative & Finance, MBO +), Cécile joined the London-based pan-European fund Apposite Capital in January 2024 as Senior Advisor in healthcare for France and Europe. Over the course of her career, she has acquired specific expertise in the growth and buyout of companies (investments of between €10m and €40m) in a variety of healthcare sectors, such as diagnostics (spin-off of Cerba in 1998), healthcare services (orthoprosthetists, nuclear medicine), CROs and digital health. Cécile has regularly held positions on the strategic committees of her portfolio companies. Cécile holds a Master “Ingéniérie financière” Dauphine and the ‘Leading the digital transformation in healthcare’ certificate from Harvard medical school.
Marc Dechamps
Marc is a biologist with extensive experience in the pharmaceutical industry dating back more than 35 years. During his career, he has worked for corporate pharma companies including GSK & ViiVHealthcare, building his expertise in market development for new products in infectious diseases, immunological disorders, oncology, CNS disorders and vaccines. In 2016, Marc founded and became Managing Director of XMF consulting, a company which supports biotech and biopharma businesses with strategic advice. He has also served as Managing Director of Delphi Genetics (CDMO) and interim CEO of eTheRNA Immunotherapies (mRNA biotech company). Presently, he is CEO of Bioxodes, a phase 2a clinical stage biotech company (prevention of thrombosis and neuroinflammation in hemorrhagic stroke patients). He also serves also as President of the board of InvestSud Tech (group InvestSud) and board member of HealthTech for Care (HT4C). Marc is co-academic Director for the advanced masters in biotech & medtech ventures at the Solvay Brussels School of Economics & Management.
Strategic announcements since early 2024
On February 28, OSE Immunotherapeutics and AbbVie announced partnership to develop OSE-230, a novel monoclonal antibody for the treatment of chronic inflammation. OSE received a $48 million upfront payment upon signature of this strategic partnership and is eligible to receive up to $665 million potential additional milestones.
On April 10, OSE Immunotherapeutics received €8.4 million in non-dilutive public funding as part of the France 2030 “i-Démo” program to support the Phase 3 registration clinical trial of cancer vaccine Tedopi® in lung cancer.
On May 24, OSE Immunotherapeutics and Boehringer Ingelheim expanded their collaboration to develop first-in-class treatments for cancer and cardio-renal-metabolic diseases. OSE received a total €38.8 million payment after strengthening its partnership with Boehringer Ingelheim for the development of anti-SIRPα programs in oncology and cardio-renal-metabolic diseases, as well as the launch of a new preclinical asset from OSE’s cis-targeting anti-PD1/cytokine platform; and up to €1.1 billion in potential additional milestones.
About OSE Immunotherapeutics
OSE Immunotherapeutics is a biotech company dedicated to developing first-in-class assets in immuno-oncology (IO) and immuno-inflammation (I&I).
The Company’s current well-balanced first-in-class clinical pipeline includes:
OSE Immunotherapeutics expects to generate further significant value from its three proprietary drug discovery platforms, which are central to its ambitious goal to deliver next-generation first-in-class immunotherapies:
Additional information about OSE Immunotherapeutics assets is available on the Company’s website: www.ose-immuno.com. Follow us on X and LinkedIn
Contacts
Forward-looking statements
This press release contains express or implied information and statements that might be deemed forward-looking information and statements in respect of OSE Immunotherapeutics. They do not constitute historical facts. These information and statements include financial projections that are based upon certain assumptions and assessments made by OSE Immunotherapeutics’ management in light of its experience and its perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate.
These forward-looking statements include statements typically using conditional and containing verbs such as “expect”, “anticipate”, “believe”, “target”, “plan”, or “estimate”, their declensions and conjugations and words of similar import. Although the OSE Immunotherapeutics management believes that the forward-looking statements and information are reasonable, the OSE Immunotherapeutics’ shareholders and other investors are cautioned that the completion of such expectations is by nature subject to various risks, known or not, and uncertainties which are difficult to predict and generally beyond the control of OSE Immunotherapeutics. These risks could cause actual results and developments to differ materially from those expressed in or implied or projected by the forward-looking statements. These risks include those discussed or identified in the public filings made by OSE Immunotherapeutics with the AMF. Such forward-looking statements are not guarantees of future performance. This press release includes only summary information and should be read with the OSE Immunotherapeutics Universal Registration Document filed with the AMF on April 30, 2023, including the annual financial report for the fiscal year 2023, available on the OSE Immunotherapeutics’ website. Other than as required by applicable law, OSE Immunotherapeutics issues this press release at the date hereof and does not undertake any obligation to update or revise the forward-looking information or statements.