Celyad SA (NASDAQ:CYAD) has enrolled the first patient the Phase Ib THINK study. The THINK Phase Ib trial is a major expansion of CAR therapy with five solid tumours plus AML and MM being explored. The first patient has colorectal cancer, a key move into solid tumours, and will be dosed at 3 x 108 autologous cells. In the previous Phase I study, one patient at the highest 3 x 107 dose showed unexpected signs of efficacy. The US allogenic CAR patent has been confirmed. Our interim indicative value remains at €45 per share.
NKR-2 has a lead positon in solid tumours
Celyad has started the Belgian arm of the immuno-oncology autologous NKR-2 trials (THINK). US approval of the trial is expected soon. THINK recruits patients with two haematological and five solid tumours. Celyad has enrolled the first patient at a single dose of 3 x 108. Once this dose cohort completes, the dose rises to 1 x 109 then 3 x 109 cells. Celyad then aims to treat about 14 patients per tumour type at the highest dose. The expansion phase may start in H217, with six-month results possible in H218. The exploration of NKR-2 in solid tumours puts Celyad in a leading position in this area. Other CAR companies will initially have to compete for a limited number of patients in the congested CD19 area. There are a few, limited clinical trials using CAR constructs in solid tumours, but otherwise this large potential market is not being addressed by active clinical development.
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