WPCT-backed Immunocore enters Phase I with lead GSK project
Woodford Patient Capital Trust (WPCT)-backed Immunocore has started a Phase I study of IMCnyeso, the lead engineered T cell product under its collaboration with GlaxoSmithKline (GSK), for a range of cancers. The 63-patient Phase I/II study will assess ImmTAC in patients with non-small cell lung cancer (NSCLC), bladder cancer, melanoma and synovial sarcoma who are positive for NY-ESO1 and/or LAGE-1A with results expected in August 2020. The first dosing in the study triggered an (undisclosed) milestone payment from GSK. WPCT holds shares in Immunocore representing 5.32% of its gross asset value, suggesting the stake was worth in the privately held UK-based engineered T Cell receptor company was worth £48.2m.
Under a collaboration formed in 2013, Immunocore can earn up to £142m in preclinical milestone payments for each programme with up to £200m in development and commercial milestones plus up to double digit royalties on sales. Immunocore remained responsible for all preclinical R&D and for the initial clinical trials of for the first two programmes, with GSK responsible for the remaining development and commercialisation of the products. Last year, GSK confirmed its selection of the second and third programmes – the former being relevant to cancers including triple negative breast, oesophageal, gastric and ovarian.
Immunocore also has one wholly owned R&D programme in clinical trials, IMCgp100, which is in pivotal studies for uveal melanoma, and two other wholly owned assets, IMC-C103C and IMC-F106C, targeting undisclosed antigens, that should enter the clinic in the next 18 months.