Nidlegy is a fusion protein commercialized by Philogen, with a leading Phase III program in Metastatic Melanoma. According to Globaldata, it is involved in 5 clinical trials, of which 1 was completed, and 4 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Nidlegy’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Nidlegy is expected to reach an annual total of $388 mn by 2038 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Nidlegy Overview
Daromun (L19-IL2 + L19-TNF) is under development for the treatment of metastatic melanoma, non-melanomatous skin cancer including basal cell carcinoma (basal cell epithelioma), squamous cell carcinoma, stage III and IV unresectable melanoma patients, cutaneous squamous cell carcinoma (cSCC), Merkel cell carcinoma, keratoacanthoma, tumoral cutaneous T-cell lymphoma, Kaposi’s sarcoma or Adnexal tumors of the Skin and other types of skin cancer. The drug candidate is administered intratumorally and intralesional. L19-IL2 and L19-TNF are recombinant fusion proteins, composed of the single-chain monoclonal antibody fragment (L19). L19-IL2 is composed of human recombinant interleukin-2 (IL-2). L19-TNF is composed of human recombinant tumor necrosis factor-alpha. The drug candidate acts by targeting fibronectin and interleukin 2 receptor subunit alpha (IL2RA).
Philogen Overview
Philogen is a biotechnology company that develops biopharmaceuticals for the treatment of angiogenesis-related disorders. The company’s product portfolio include Dodekin, Dekavil, NidlegyTM, Fibromun, Darleukin, and ABBV-022. The company provides dekavil and tetravil and others targeted at the treatment of severe pathologies such as cancer, rheumatoid arthritis and age-related macular degeneration. It offers DNA-encoded chemical libraries, antibody drug conjugates, immunocytokines, and antibody libraries, discovery of vascular targets, vascular targeting and easy iodine technology. The company is also advancing clinical development programs for the treatment of cancer and of chronic diseases. Philogen is headquartered in Siena, Italy.
The company reported revenues of (Euro) EUR23.1 million for the fiscal year ended December 2023 (FY2023), a decrease of 2.5% over FY2022. The operating loss of the company was EUR8.8 million in FY2023, compared to an operating profit of EUR0.2 million in FY2022. The net loss of the company was EUR6.2 million in FY2023, compared to a net loss of EUR5.4 million in FY2022.
For a complete picture of Nidlegy’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
