Over the past several weeks Cantargia has reported positive interim data from the ongoing Phase IIa trial with lead asset CAN04, an anti-IL1RAP antibody targeting the IL-1 pathway, announced the first clinical trial in the US and introduced CAN10, a preclinical project in inflammation uniquely targeting three interleukin pathways, IL-1, IL-33 and IL-36.
Two days after the introduction of CAN10, J&J’s Janssen announced the acquisition of bermekimab from the US-based XBiotech for an impressive $750m upfront and $600m in potential milestones. The mechanism of action of bermekimab, which is in mid-stage clinical trials as an anti-inflammatory anti-IL-1-alpha antibody, partially overlaps with that of CAN10. Our
Cantargia valuation is SEK2.94bn or SEK40.4/share (virtually unchanged).
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