ADI-001 is a gene-modified cell therapy commercialized by Adicet Bio, with a leading Phase I program in Lupus Nephritis. According to Globaldata, it is involved in 4 clinical trials, of which 3 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of ADI-001’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for ADI-001 is expected to reach an annual total of $125 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.
ADI-001 Overview
ADI-001 is under development for the treatment of non-Hodgkin’s lymphomas including follicular lymphoma, marginal zone lymphoma, mediastinal lymphoma, systemic lupus erythematosus (SLE), relapsed/refractory lupus nephritis (LN), systemic sclerosis, anti-neutrophil cytoplasmic antibody-associated vasculitis, idiopathic inflammatory myopathy (IIM) and stiff person syndrome (SPS). The therapeutic candidate comprises of allogenic gamma delta T cells expressing chimeric antigen receptors (CARs) directed to CD20. It acts by targeting cells expressing CD20. It is administered through parenteral route. The therapeutic candidate is being developed based on universal immune cell therapy (uICT) platform technology and T cell receptor-like monoclonal antibodies (TCRLs).
It was under development for the treatment of chronic lymphocytic leukemia (CLL), burkitt lymphoma, mantle cell lymphoma and diffuse large B-cell lymphoma.
Adicet Bio Overview
Adicet Bio is a clinical-stage biotechnology company. It primarily focuses on the discovery and development of allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company’s product candidate is ADI-001, an investigational allogeneic gamma delta CAR T cell therapy that targets B-cells via an anti-CD20 CAR. Adicet’s products are designed for patients suffering from autoimmune diseases, solid tumors, and hematological malignancies. It also develops ADI-002, used for the treatment of various solid tumors; and ADI-925, a novel engineered CAd gamma delta T cell product candidate targeting tumor stress ligands. The company operates in the US. Adicet Bio is headquartered in Boston, Massachusetts, the US.
The operating loss of the company was US$152 million in FY2023, compared to an operating loss of US$72.6 million in FY2022. The net loss of the company was US$142.7 million in FY2023, compared to a net loss of US$69.8 million in FY2022.
For a complete picture of ADI-001’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.
