Imugene (ASX:IMU) share price leaps 9% on Pfizer, Merck deal

Cooperation between drug developers could speed up the delivery of effective treatments.
The post Imugene (ASX:IMU) share price leaps 9% on Pfizer, Merck deal appeared first on The Motley Fool Australia. –

The Imugene Ltd (ASX: IMU) share price is surging in morning trade, up 9% at time of writing.

Below we take a look at the clinical trial supply agreement announced this morning that looks to be driving ASX investor interest.

What agreement was announced?

The Imugene share price is flying higher after the company reported a new clinical trial supply agreement with Merck KGaA (ETR: MRK) and Pfizer Inc. (NYSE: PFE).

The companies will work together to evaluate the safety and efficacy of Imugene’s HER-Vaxx when combined with avelumab in patients with HER-2 positive gastric cancer.

According to the release, HER-Vaxx is a “B-cell peptide cancer immunotherapy designed to treat tumours that over-express the HER-2/neu receptor, such as gastric, breast, ovarian, lung and pancreatic cancer”.

Avelumab (marketed as Bavencio) is co-developed by Merck and Pfizer. Avelumab is an immune checkpoint inhibitor.

The phase 2 trial will study the effectiveness of HER-Vaxx combined with chemotherapy with or without avelumab compared to chemotherapy alone in patients with HER-2 positive gastric or gastroesophageal junction adenocarcinomas.

Commenting on the agreement, Imugene’s CEO Leslie Chong said:

Imugene is excited to announce this collaboration with Merck KGaA, Darmstadt, Germany and Pfizer. HER-Vaxx has shown a tolerable safety profile and encouraging efficacy in patients with metastatic HER-2 positive gastric cancer, and we are looking forward to evaluating HER-Vaxx with avelumab in the perioperative clinical setting.

Working together, we’re committed to finding ways to address the unmet needs of patients living with cancer.

Under the agreement, Imugene will sponsor and fund the study from its existing budget. Merck and Pfizer will provide avelumab.

Imugene share price snapshot

The Imugene share price has been on a tear in 2021, up 525% year-to-date. That compares to a 12% gain posted by the All Ordinaries Index (ASX: XAO) during that same period.

Over the past month, Imugene shares are up 48%.

The post Imugene (ASX:IMU) share price leaps 9% on Pfizer, Merck deal appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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