Servier exercises option on OSE-127

OSE Immunotherapeutics (Euronext: OSE) says that fellow France-based Servier, an independent pharmaceutical company, has exercised the first step under a two-step option agreement for exclusive global rights to OSE-127, a differentiated monoclonal antibody antagonist targeting the interleukin-7 receptor (IL-7R), discovered by OSE.

Under the license agreement, exercising the first step of the option triggered a 10 million-euro ($11.4 million) milestone payment to OSE from Servier, which made the decision following the achievement of pre-specified data-based developmental achievements. OSE-127, which has potential to treat both autoimmune disease and chronic inflammation, is currently being evaluated in a Phase I clinical trial in which the first healthy volunteers were enrolled and dosed in December 2018.

Alexis Peyroles, chief executive of OSE Immunotherapeutics, said: “This demonstrates Servier’s commitment and strong belief in the potential of OSE-127 as a potential best-in-class treatment for autoimmune conditions. We look forward to continuing our partnership to develop and deliver this innovative therapy to patients suffering from debilitating autoimmune diseases, including inflammatory bowel diseases and Sjögren's syndrome. More broadly, the progress on OSE-127, together with continued progress in our expanding pipeline, further demonstrates the potential of OSE’s discovery and development capabilities in autoimmune diseases and immuno-oncology. The milestone payment reinforces the Company’s cash position, providing financial viability until 2020.”