ASX Health Stocks: Apiam and Trajan on acquisition trail, Immutep provides updates on Phase 2 trials
Health & Biotech
Health & Biotech
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The ASX 200 Health Index (XHJ) is up by 0.80% at the time of writing, compared to the broader index which is up by 0.30%.
Immutep Limited (ASX:IMM) has has successfully completed patient recruitment for the Phase II TACTI-002 study of LAG-3 therapy, Eftilagimod Alpha.
A total of 185 patients are now participating in the study across clinical sites in Australia, Europe and the US.
Eftilagimod alpha is a recombinant protein consisting of of LAG-3 that has been engineered to be soluble.
LAG-3 (or Lymphocyte Activation Gene-3 ) is a gene that codes a protein, which is involved in the regulation of the immune system.
Discovered in 1990 by Immutep’s own Chief Scientific and Chief Medical Officer Professor Frederic Triebel, Immutep has now become the global leader in LAG-3 products.
The company has more LAG-3-related intellectual property and more product candidates in clinical development within the industry.
The Phase II trial of Eftilagimod Alpha is being conducted in collaboration with Merck and Kenilworth, and will evaluate the combination of efti with KEYTRUDA (pembrolizumab).
The aim is to study the reaction of patients with head and neck squamous cell carcinoma or non-small cell lung cancer.
First results are expected to be released in the first half of CY 2022.
Apiam Animal Health (ASX:AHX) has agreed to acquire Agnes Banks Equine Clinic (ABEC) for $4.8 million.
ABEC operates a well-established dedicated equine veterinary clinic approximately 70km from Sydney. It has a diversified equine client base including sport horses, pleasure horses and racehorses.
The business employs 14 equine vets, and according to Apiam has a reputation as a market leader within the Australian equine veterinary industry.
“In-line with many other animal segments over recent years, the equine veterinary sector has grown rapidly,“ says Apiam’s CEO, Dr Chris Richards.
“Moving forward, these large cornerstone facilities are expected to provide a base for further expansion into the equine veterinary sector on a regional basis”.
In another acquisition news, Trajan Group (ASX:TRJ) has overnight completed the acquisition of Axel Semrau GmbH and its asset, Semrau Immobilie in Germany.
The purchase prices were €14.75 million and €2.25 million respectively.
Axel Semrau develops and manufactures laboratory automation and chromatography software and detection systems. In FY21, the company reported FY 21 revenues of €14.9 million, and EBITDA of €1.46 million.
“Axel Semrau owns and develops the CHRONOS intelligent sequencing software platform upon which Trajan’s automated workflows are built,” said Trajan CEO, Stephen Tomisich.
“We intend to further invest in CHRONOS in line with Trajan’s goal to simplify and automate complex analytical workflows.”
Meanwhile, Bionomics (ASX:BNO) has decided not to proceed with making a capital distribution to shareholders in connection with its right to receive royalty interests under a license agreement with Merck Sharp & Dohme Corp.
In August, the company had advised that it was considering making a capital distribution to shareholders.
The board has since reconsidered the costs associated with implementing the distribution in light of its IPO plans in the US, and decided against it.
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