Novartis passes on Transgene's TG4010
Transgene S.A. (Euronext:TNG) said Novartis AG (NYSE:NVS; SIX:NOVN) declined to exercise its option to license exclusive, worldwide rights to develop and commercialize TG4010, which is in development for first-line treatment of non-small cell lung cancer (NSCLC). In January, Transgene reported data from the Phase IIb portion of the Phase IIb/III TIME trial for NSCLC showing that subcutaneous TG4010 missed the primary progression-free survival (PFS) endpoint vs. placebo.
Next half, the company plans to start the Phase III portion of the trial using a "refined" biomarker threshold to select patients. Transgene said it is "sufficiently well-funded" to continue to Phase III "in parallel to seeking a new partner." At March 31, the company had EUR 98.9 million ($136.1 million) in cash (see BioCentury Extra, Jan. 9). ...