In a Blockbuster Day, Vaccibody Gets New Name and a Multi-Program Regeneron Deal to Boot

On November 23rd, Norway-based Vaccibody AS announced changing its name to Nykode Therapeutics. The new name meaning “new code” embraces the company’s Norwegian roots and signifies a “new phase of growth and development” of the company.

In a simultaneous press release, the company announced partnering with Regeneron in a deal worth over $925 million. The partnership centers on the discovery, development, and commercialization of new vaccines for cancer and infectious diseases. After the announcement, their stock jumped more than 15%, marking a promising start for the next phase of the company.

Michael Engsig, CEO of Nykode Therapeutics, said, “Over the last few years, the Company has made significant steps forward. We have reported promising clinical data, continued to grow our pipeline and forged significant partnerships.” He added, “We continue our exciting transformation from a two-asset focused company to a fully-fledged platform biotech company…”.

A Pioneer in Neoantigen Cancer Vaccines

Nykode is a clinical-stage biopharmaceutical focused on the development of vaccines and immunotherapies. Their lead therapeutic is VB10.16, is an HPV16-positive cervical cancer vaccine that is currently in Phase 2 clinical trials.

Their pipeline also includes VB10.NEO, a personalized cancer medicine, is outlicensed to Genentech and is currently in two clinical trials for several solid and hematological tumors. VB10.NEO is a cancer neoantigen vaccine that targets antigens directly to antigen presenting cells and optimizes the likelihood of inducing strong and broad clinically relevant immune responses.

Additionally, Nykode is testing two next-generation COVID-19 vaccines in a Phase 1/2 trial. 

Their therapeutics are created using proprietary Vaccibody technology. This technology allows them to target antigen-presenting cells, and it uses them to display a wide variety of antigens to immune cells. This results in strong and long-lasting specific immune responses. 

Nykode delivers a DNA plasmid into muscle cells, where the cells produce the Vaccibody molecule. This protein has three main components:

1. Targeting unit: This part of the protein guides the molecule and allows it to bind specific antigen-presenting cells.
2. Dimerization unit: This connector facilitates the cross-linking of target receptors.
3. Antigenic unit: This is the disease-specific antigen to which a specific immune response is generated.

Deal with Regeneron

This agreement includes three cancer and two infectious diseases programs, and each program may consist of more than one target. Nykode will be in charge of vaccine generation, characterization, and production until the end of Phase 1 trials. For its part, Regeneron will be responsible for target identification, preclinical and clinical development, commercialization, and manufacturing after the end of Phase 1 trials. Regeneron will cover research, clinical, regulatory, manufacturing, and commercialization costs. 

As part of the deal, Nykode will receive $30 million upfront and a $20 million equity investment. All therapeutic candidates are eligible for milestone and high single-digit or low double-digit royalties. In total, Nykode is eligible to receive more than $875 million in milestone payments.

Michael Engsig said: “We are very pleased to have entered into this groundbreaking agreement with Regeneron that may accelerate the expansion of our pipeline and fully leverage our unique and modular vaccine technology platform within multiple, large, and commercially significant disease areas, in line with our corporate strategy…”.

Author

Daniel Ojeda