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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Iovance Biotherapeutics, Inc.    IOVA

IOVANCE BIOTHERAPEUTICS, INC.

(IOVA)
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Lytix Biopharma announces a clinical collaboration agreement with Iovance Biotherapeutics, Inc. (NASDAQ: IOVA)

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11/11/2019 | 03:16am EST

Lytix Biopharma AS, a Norwegian clinical stage immunoncology company, today announces a clinical collaboration with the US-based company Iovance Biotherapeutics, Inc., a late-stage biotechnology company developing novel cancer immunotherapies based on tumor infiltrating lymphocyte (TIL) technology, to evaluate Lytix`s first-in-class oncolytic peptide, LTX-315, in combination with Iovance`s autologous ready to infuse T cell therapy.

Lytix Biopharma is focused on the development of oncolytic molecules based on pioneering research in "host defense peptides". The company`s lead compound, LTX-315, is administrated intra-tumorally and works by inducing lysis of intracellular organelles of tumor cells thereby unleashing a broad spectra of tumor antigens. Clinical trials have demonstrated an increase in CD8+ TILs in the majority of evaluated patients with solid tumors resulting in size reduction of distant non-treated lesions.

Iovance Biotherapeutics intends to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers. Tumor infiltrating lymphocyte (TIL) therapy uses a patient's own immune cells to attack cancer. TIL cells are extracted from a patient's own tumor tissue, expanded through a proprietary process, and infused back into the patient. After infusion TILs reach tumor tissue where they attack tumor cells.

The collaboration is a non-exclusive collaboration where both parties will maintain ownership of their own assets.

Øystein Rekdal, CEO of Lytix Biopharma, said: "We are very excited about the collaboration with Iovance, and the combination of our technologies can be a potential new approach to T cell therapy for cancers. This agreement affirms that we remain committed to the further development of LTX-315 as a single agent and in combination with other therapies."

For more information contact:

Øystein Rekdal, CEO, e-mail: oystein.rekdal@lytixbiopharma.com

https://news.cision.com/lytix-biopharma-as/r/lytix-biopharma-announces-a-clinical-collaboration-agreement-with-iovance-biotherapeutics--inc---nas,c2954153

(c) 2019 Cision. All rights reserved., source Press Releases - English

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Financials (USD)
Sales 2019 -
EBIT 2019 -196 M
Net income 2019 -187 M
Finance 2019 318 M
Yield 2019 -
P/E ratio 2019 -16,5x
P/E ratio 2020 -15,0x
EV / Sales2019 infx
EV / Sales2020 107x
Capitalization 3 120 M
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Mean consensus BUY
Number of Analysts 9
Average target price 35,25  $
Last Close Price 24,72  $
Spread / Highest target 143%
Spread / Average Target 42,6%
Spread / Lowest Target 21,4%
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NameTitle
Maria Fardis President, Chief Executive Officer & Director
Iain D. Dukes Chairman
Timothy E. Morris Secretary, Chief Financial & Accounting Officer
Friedrich Graf Finckenstein Chief Medical Officer
Merrill A. McPeak Independent Director
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