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Horizon Discovery Group plc
09 May 2017
Horizon Discovery Announces Update on its Immuno-Oncology
Platform including Strong Uptake of Product and Service
Offerings
-- Over GBP1.5 million in current and ongoing contract research
services, product sales, and R&D collaboration payments have
been derived from platform in FY17 to date, representing an almost
40% organic increase over full year 2016
-- Novel Immuno-Oncology drug targets and molecules in
development for future partnering in leveraged contract research
services or via joint-ventures or spin-outs
-- Immuno-Oncology set to be a powerful growth driver for Horizon
Cambridge, UK, 9 May 2017: Horizon Discovery Group plc (LSE:
HZD) ("Horizon"), the world leader in the application of gene
editing technologies, today provides an update on the performance
of its Immuno-Oncology platform, which combined represents over
GBP1.5 million in current and ongoing product sales and contract
research projects in FY17 to date, with a very strong order book in
place for the remainder of the year.
The Group notes that the announced current and ongoing product
sales and service projects in FY17 to date relating to
immuno-oncology represents an almost 40% increase over full year
2016 revenue for these products and services. With a strong order
book in place, including increasing orders for immunology-related
target identification, validation and diagnostic reference
standards, the platform is set to provide significant growth and
contribution towards the Group's full year 2017 performance, for
which we reiterate guidance of GBP30M to GBP35M.
Horizon has built a ground-breaking platform for immuno-oncology
therapeutic discovery to support the large and increasing number of
customers actively pursuing programmes in this area, which includes
gene editing of immune cells, immune cell assays and screening,
cell therapy research and development services, and the supply of
reference standards for immunology-based companion diagnostics.
Horizon is currently working to broaden this platform by expanding
the focus of its cutting-edge pooled CRISPR-screening platform to
include immune cells, a technically challenging area in which
Horizon is a world leader. It is anticipated that this approach
will drive significant value creation by supporting the
identification of new therapeutic targets, and by providing
insights into how cancer is naturally fought in the body and how
T-cells, NK-cells and other immune cells could best be used for
therapy.
This platform has recently been used to identify several
exciting new gene targets for cancer-cell directed therapies, which
are currently undergoing validation. Horizon will explore a variety
of routes to capture upside potential in this area including
forging discovery partnerships with Pharma & Biotech,
out-licensing of internally identified targets, and potentially
spinning off target related IP into a new venture that would pursue
drug and antibody discovery in its own right.
Horizon is also active in the development of immunotherapies
through Avvinity, a Joint Venture with Centauri Therapeutics Ltd.,
formed in March 2016, which is deploying a powerful and proprietary
platform to discover and develop novel immuno-oncology therapeutics
(alphamer-derived DNA Aptamers or antibodies) for cancers of
significant unmet medical need. Avvinity is progressing three novel
target programs with Horizon owning 30% of the equity of the
vehicle with the option to increase this to 49.99% based on its
previously announced funding commitment of GBP5.3M which would take
the company through to a significant Series B funding round with
third-party investors in 2018-19.
Dr. Darrin Disley, Chief Executive Officer, Horizon Discovery,
commented: "Gene editing is transforming the field of
immuno-oncology, and Horizon is at the forefront with its novel
target identification, precision validation, high-throughput
combination screening and ability to develop proprietary small
molecule, large-molecule and cell therapies for our clients or
within our internal R&D programmes. With strong market
dynamics, and with most large pharmaceutical companies actively
pursuing programmes in this area, we anticipate immuno-oncology to
be a significant source of growth in the coming years."
S
About Immuno-Oncology
Cancer cells utilise a variety of methods to prevent the immune
system from recognising and attacking them, thereby preventing
their elimination. Immuno-oncology therapies aim to re-activate the
immune system, restoring its ability to respond to cancer cells and
destroy them, primarily by influencing the function of T-cells and
NK cells. Immuno-oncology has quickly become one of the most
promising approaches to cancer treatment, and the market is
currently estimated to be worth GBP25 billion per year (GBP50
billion per year by 2020)(1) .
Platform technologies based around alternative immuno-oncology
approaches have secured high valuations once early positive results
in clinical trials have been achieved: Amgen's 2012 acquisition of
Micromet valued Micromet at $1.16 billion, and in 2013, Spirogen
was acquired by AstraZeneca for up to $440 million.
About Horizon's Immuno-Oncology Platform
Horizon has built a ground-breaking platform for immuno-oncology
therapeutic discovery to support the large and increasing number of
customers actively pursuing programmes in this area. Services
include the use of genome engineering tools such as CRISPR to
modify a variety of immune cells, and the use of high throughput
genetic and molecular screening to identify new targets for
immunotherapy and to determine the impact of potential therapeutics
alone or in combination. Additionally Horizon offers reference
standards for diagnostic assays designed to measure markers that
can guide immunotherapy by identifying patients most likely to
respond to immune checkpoint inhibitors, two of which are
anticipated to be amongst the 10 best-selling anti-cancer drugs by
2020.
About Avvinity
In March 2016, Horizon Discovery partnered with Centauri
Therapeutics to form Avvinity Therapeutics, a joint venture
established to explore the potential of a powerful and proprietary
platform called Alphamers to discover and develop novel
immuno-oncology therapeutics for the treatment of both solid
tumours and leukaemias. Alphamers recruit anti-Gal antibodies, the
most common antibody found in humans, to sites on tumours so that
the body's natural immune response is stimulated to attack the
cancer. The core concept of re-directing pre-existing antibodies to
attack cancer cells recently received a boost via the acquisition
of Agalimmune by BioLineRx a significant Israeli biopharma company
for a multi-million dollar upfront payment with potential access to
substantial additional future payments based on development and
commercial milestones.
1. Global & USA Cancer Immunotherapy Market Analysis 2015 -
Forecasts to 2020, Research and Markets, 2015
Glossary
-- Assay: a laboratory procedure measuring the presence, amount,
or functional activity of a specific biomarker or analyte
-- Cell engineering: The development of cell lines that reflect
the genetics of disease found in real patients by use of gene
editing
-- Cell therapy: the administration of live whole cells
(potentially gene edited) to a patient for the treatment of a
disease
-- CRISPR: A gene editing technology that enables genomic
modifications in a wide variety of organisms and tissues with high
efficiency
-- High-throughput genetic screening: A platform used by Horizon
to identify and validate genes as targets for novel therapeutics
using CRISPR based screening and other approaches
-- High-throughput molecular screening: A platform used by
Horizon to rapidly look at large numbers of cell lines for a range
of applications, including to look for drug interactions and for
immuno-oncology screening
-- Immunotherapy: A treatment that stimulates or restores the
ability of the immune system to fight disease
-- Natural killer (NK) cells: cells that accelerate immune
response and directly attack other cells
-- Pooled screening: an approach to screening that involves
targeting multiple genes simultaneously in a single assay
-- Reference standard: a standardised substance (e.g. DNA,
protein) which is used as a measurement base or control for an
assay
-- T-cells: cells involved in immune response which direct the
activities of the immune system and are at the heart of
immunotherapy
For further information from Horizon Discovery Group plc, please
contact:
Horizon Discovery Group plc
Darrin Disley, Chief Executive Officer
Richard Vellacott, Chief Financial Officer
Chris Claxton, VP Investor Relations
Tel: +44 (0) 1223 655 580
Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott / Susan Stuart / Matthew Neal / Melissa
Gardiner
Tel: +44 (0) 20 3709 5701
Email: horizon@consilium-comms.com
Zyme Communications (Trade and Regional Media)
Katie Odgaard
Tel: +44 (0)7787 502 947
Email: katie.odgaard@zymecommunications.com
Numis Securities Limited (Joint Broker and NOMAD)
Michael Meade / Freddie Barnfield
Tel: +44 (0) 207 260 1000
About Horizon Discovery Group plc www.horizondiscovery.com
Horizon Discovery Group plc (LSE: HZD) ("Horizon"), is a
world-leading gene editing company that designs and engineers
genetically-modified cells and then applies them in research and
clinical applications that advance human health.
Horizon's core capabilities are built around its proprietary
translational genomics platform, a highly precise and flexible
suite of gene editing tools (rAAV, ZFN and CRISPR) able to alter
almost any gene sequence in human or mammalian cell-lines.
Horizon offers over 23,000 catalogue products and related
research services, almost all of which are based on the generation
and application of cell and animal models that accurately
recapitulate the disease-causing genetic anomalies found in
diseases like cancer. Horizon's commercial offering has been
adopted by over 1,600 unique research organisations in over 50
countries as well as in the Company's own R&D pipeline to
support a greater understanding of the genetic drivers of disease
and the development of molecular, cell and gene therapies that can
be prescribed on a personalised basis.
Horizon is headquartered in Cambridge, UK, and is listed on the
London Stock Exchange's AIM market under the ticker "HZD".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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