AS­CO star, backed by bil­lion­aires, goes to Astel­las in $1.4 bil­lion buy­out

Among the galaxy of on­col­o­gy play­ers that showed up at AS­CO last sum­mer to boast about their progress or lay claims to bright fu­tures, few de­liv­ered the re­al goods as well as overnight star Ganymed.

The lit­tle-known Ger­man biotech grabbed the spot­light at the big con­fer­ence with IMAB362, which wrapped a mid-stage study show­ing it “can sig­nif­i­cant­ly ex­tend me­di­an sur­vival when added to stan­dard chemother­a­py—13.2 months vs. 8.4 months—for pa­tients with ad­vanced gas­tric can­cer.” This ther­a­py is the first drug that tar­gets a pro­tein called claudin18.2, and sub­jects in the 161-pa­tient study with the high­est lev­els of claudin18.2 had a sig­nif­i­cant­ly longer me­di­an over­all sur­vival rate: 16.7 months.

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