9th Dec 2022 10:36
(Alliance News) - Syncona Ltd on Friday said portfolio company Autolus Therapeutics PLC achieved the primary endpoint in the clinical trial of its treatment for acute lymphoblastic leukaemia.
Syncona is a London-based investor in healthcare companies. Autolus Therapeutics is a clinical-stage biopharmaceutical company developing next-generation programmed T cell therapies.
Syncona said Autolus Therapeutics hit its target of a 70% overall remission rate in the phase 2 Felix clinical trial of the cell therapy obecabtagene autoleucel, or obe-cel, in adult acute lymphoblastic leukaemia, which analysed 50 patients with a morphological disease.
Meeting the primary endpoint goal has triggered a USD35.0 million payment from investment firm Blackstone Life Sciences, with Autolus also due an additional UD35.0 million payment from Blackstone as a result of the completion of planned activities supporting the obe-cel manufacturing process.
Enrolment is now complete for the initial target cohort, meeting the goal of 90 patients enrolled. This cohort is set to form the basis of a Biological Licence Application submission to the US Food & Drug Administration by the end of 2023.
"The data is consistent with what was previously presented in the Allcar19 academic study, underlining the potential of obe-cel as a drug which can provide meaningful impact for patients suffering from acute lymphoblastic leukaemia, whilst also showing a very positive safety profile in a last line setting," said Martin Murphy, chief executive officer & chair of Syncona Investment Management Ltd.
Syncona also noted Autolus has priced its public offering in the US of 75.0 million American depositary shares at USD2.00 each, raising USD150.0 million. Syncona will invest USD28.0 million in the offering, retaining an 18.5% stake in Autolus, which is worth GBP54.8 million.
Syncona shares were up 0.4% to 181.88 pence on Friday morning in London.
By Jaskeet Briah, Alliance News reporter
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