Recently, Oryzon Genomics SA (MC:ORY) has published a flurry of fresh preclinical data backing its products ORY-2001 and ORY-3001. Latest data from ORY-2001 expanded the understanding about its diverse effects on Alzheimer's disease (AD) patients, potentially including a disease modifying effect. At ASH in December 2017 Oryzon revealed first preclinical data with ORY-3001 showing that the drug could be effective in sickle cell disease. The company also introduced its plans to continue the development of ORY-1001, its lead oncology asset, once it gets the rights back in early Q118, after Roche completes a dose-finding study with small cell lung cancer patients. Our valuation is €305m or €8.9/share (vs €8.6/share).
New preclinical data show multiple ORY-2001 effects
New preclinical data on ORY-2001 (Oryzon’s lead CNS asset) were presented at two separate conferences in October and November 2017. The first set demonstrated that in the well-established experimental autoimmune encephalomyelitis model for multiple sclerosis (MS), ORY-2001 performed as well as or better than fingolimod (Gilenya, Novartis) in reducing immune cell infiltration of CNS tissues, providing neuroprotection and thereby reducing demyelination. The next Phase IIa trial in MS patients is expected to start around end-2017. The second set of data from an AD animal model showed that ORY-2001 improved behavioural symptoms of AD patients such as aggression and social isolation, which is in addition to improving cognitive decline as reported in earlier studies. This indicates a wide holistic effect on AD. A Phase IIa in AD is expected to start in early Q118.
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