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Imugene to divest Linguet™, focus on HER-Vaxx for gastric cancer

Last updated: 20:37 28 Nov 2014 AEDT, First published: 21:37 28 Nov 2014 AEDT

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Imugene Limited (ASX:IMU) will divest its Linguet™ drug delivery technology, allowing the company to focus on HER-Vaxx for gastric cancer, one of the world’s most advanced B cell vaccines.

Her-Vaxx has potential to improve upon Roche’s blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.


Linguet™ divestment

Linguet™ uses proprietary technology to improve the efficacy and safety of a diverse number of existing prescription and over-the-counter medicines.

Imugene is seeking expressions of interest from parties to either purchase a 100% interest in Linguet™ via trade sale, licence or as a back door listing / distribution, with potentially priority rights awarded to Imugene shareholders.

The platform technology enables the active ingredients of drugs to be absorbed directly into the bloodstream when placed inside the cheek (buccal) or under the tongue (sublingual).


Core focus on HER-Vaxx

Imugene’s core focus will remain on developing its class leading immuno-oncology program, HER-Vaxx for gastric cancer.

HER-Vaxx is expected to enter Phase II clinical trials for gastric cancer in 2H 2015.

Immunotherapy has become one of the hottest and most promising areas of study for the treatment of a variety of cancerous tumours, and includes a just announced joint venture between Pfizer and Merck to commence on up to 20 preclinical immuno-oncology programs in 2015.

From January 2013 to August 2014 an index made up of U.S. immuno-oncology companies increased in value by 262.9%, when compared to a NASDAQ biotechnology index that increased by 102.2%, and the S&P500 that increased by 40.5%.


Research Note and StockTube Video

Access the Research Note: Imugene is undervalued v ASX, global peers in Immuno-Oncology.

Access the StockTube Video: Imugene Limited CEO Charles Walker speaks about using Immuno-oncology in the fight against cancer.


Analysis


Her-Vaxx has potential to improve upon Roche’s blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.

Imugene's share purchase plan is open until Friday 5th December 2014 allowing subscriptions for between $1,000 and $15,000 at $0.01.

Proactive Investors has a 6-12 month share price target of $0.034 - $0.047.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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