Brenetafusp is a fusion protein commercialized by Immunocore, with a leading Phase III program in Melanoma. According to Globaldata, it is involved in 2 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Brenetafusp’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Brenetafusp is expected to reach an annual total of $290 mn by 2039 in the US 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.
Brenetafusp Overview
Brenetafusp is under development for the treatment of non-small cell lung cancer, synovial sarcoma, small cell lung cancer, ovarian cancer, endometrial cancer, urothelial carcinoma, triple-negative breast cancer , cutaneous melanoma, mucosal melanoma and uveal melanoma. It is a bispecific fusion protein comprises of T cell receptor (TCR) with an anti-CD3 single-chain antibody fragment (scFv). The drug candidate is developed based on Immune mobilizing monoclonal T-cell receptor against cancer (ImmTAC) technology. It is administered through intravenous route. The drug candidate acts by targeting preferentially expressed antigen in melanoma (PRAME).
It was under development for the treatment of head and neck squamous cell carcinoma, acute myeloid leukemia .
Immunocore Overview
Immunocore is a biotechnology company that- focuses on the development of immunotherapeutic drugs for the treatment of cancer, infectious diseases, and autoimmune diseases. The company develops its drugs using proprietary T cell receptor (TCR) technology. Its products under development include IMC-C103C, IMC-F106C, IMC-I109V, IMC-M113V and IMCgp100. The company works in collaboration with various pharmaceutical companies, to develop its product candidates for the treatment of metastatic cutaneous melanoma; cancer; and other indications. It has presence in the UK, the US, Australia, New Zealand and Asia, Europe. Immunocore is headquartered in Oxfordshire, the UK.
The company reported revenues of (US Dollars) US$249.4 million for the fiscal year ended December 2023 (FY2023), an increase of 43.1% over FY2022. The operating loss of the company was US$59.7 million in FY2023, compared to an operating loss of US$53.4 million in FY2022. The net loss of the company was US$55.3 million in FY2023, compared to a net loss of US$52.5 million in FY2022.
The company reported revenues of US$70.5 million for the first quarter ended March 2024, a decrease of 71.7% over the previous quarter.
For a complete picture of Brenetafusp’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.
