Oncopeptides selects initial drug candidate from SPiKE platform

STOCKHOLM, Sweden, June 27, 2024 – Oncopeptides AB (publ) (Nasdaq Stockholm: ONCO), a biotechnology firm specializing in treatments for hard-to-treat cancers, has announced the selection of its initial candidate drug from its proprietary Small Polypeptide based innate Killer Engagers (SPiKE) platform.

The SPiKE platform is distinctive for its use of multi-specific constructs that can bind to several targets simultaneously. The inaugural drug candidate from this platform, named OPSP1, is a bi-specific construct. It is designed to engage natural killer (NK) cells, which are a type of immune cell, while also targeting cancer cells. OPSP1 aims to demonstrate the SPiKE platform's capability to activate NK cells. This activation is achieved by targeting a specific protein known as BCMA, which is present in certain cancers, including multiple myeloma. By focusing on BCMA, Oncopeptides plans to evaluate the SPiKE platform's effectiveness in activating NK cells to combat cancer, an essential precursor to further clinical development.

Dr. Karl-Johan Malmberg, a professor at Oslo University and Karolinska Institutet, commented on the significance of NK cell-mediated therapy for treating challenging cancers. He noted that despite significant progress in current treatment methods, resistance often develops, highlighting the necessity for innovative therapies to address these unmet needs.

NK cell-mediated therapy is a promising field within cancer immunotherapy. Research is ongoing to overcome existing hurdles and improve its therapeutic efficacy. Oncopeptides' next step involves planning a first-in-human clinical trial to assess the safety, efficacy, and overall therapeutic potential of OPSP1.

Sofia Heigis, CEO of Oncopeptides, emphasized the importance of showcasing a promising product pipeline along with the company's flagship product. She highlighted the success of their first technology platform, PDC, which already has an approved product. Heigis expressed excitement about the progress of SPiKE, their second technology platform. She considers this milestone crucial in Oncopeptides' mission to offer hope to patients with difficult-to-treat cancers and provide value to shareholders.

A pre-clinical project for the SPiKE platform has received funding from the Eurostars 3-program. This program is co-financed by the European Union’s research and innovation program, Horizon Europe. The project is managed by an international research consortium that includes leading experts from the department of Cancer Immunology at Oslo University Hospital, Pharmatest Services Ltd in Turku, Finland, and the Royal Institute of Technology in Stockholm (KTH), where the technology originated. With this grant, Sweden’s Innovation Agency, Vinnova, has provided Oncopeptides with resources to develop pre-clinical proof of concept for a novel synthetic small polypeptide intended for the treatment of multiple myeloma.

Oncopeptides is dedicated to the research, development, and commercialization of targeted therapies for difficult-to-treat cancers. The company leverages its proprietary Peptide Drug Candidate (PDC) platform to develop compounds that swiftly and selectively deliver cytotoxic agents to cancer cells. Their product, Pepaxti® (melphalan flufenamide, also known as melflufen), has received Marketing Authorization in the European Union, EEA countries (Iceland, Liechtenstein, and Norway), and the UK. Pepaxti is indicated for use with dexamethasone in treating adult patients with multiple myeloma who have undergone at least three prior lines of therapy and whose disease is resistant to at least one proteasome inhibitor, one immunomodulatory agent, and one anti-CD38 monoclonal antibody. These patients must also have shown disease progression on or after their last therapy.

Oncopeptides continues to develop new compounds based on its proprietary technology platforms and is listed on Nasdaq Stockholm under the ticker ONCO.