Israeli drug discovery company receives $7.8 million funding from Bayer

| By | Bayer, Cancer Drugs, Drug Development, Investments
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Compugen, an Israeli clinical-stage cancer immunotherapy and predictive target discovery company, has earned a $7.8 million milestone payment from German pharma giant Bayer.

The milestone payment for Compugen’s BAY 1905254 immuno-oncology therapeutic antibody targeting the ILDR2 protein, is because the first patient with an advanced solid tumor has been given a dosage of the drug as part of a Phase I clinical trial. ILDR2 is a new immune checkpoint protein identified by Compugen using its predictive target discovery platform.

Compugen president and CEO Anat Cohen-Dayag, commented:

“ILDR2 was one of the first immune checkpoint targets discovered through our discovery platforms and the first to enter into a R&D collaboration and license agreement with a pharma partner. Bayer has been an outstanding partner and we greatly appreciate their excellent R&D team and commitment to advancing this program to the clinic. BAY 1905254 and our internally-developed COM701 are the first drug candidates to enter Phase 1 trials addressing new drug targets discovered computationally by Compugen. This represents a breakthrough achievement for Compugen and proof-of-concept of the power of our computational discovery capabilities.”

 

SOURCE: globes.co.il
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