BNT-141

CFO Jens Holstein said some of the cost cuts pertain to the company’s COVID-19 collaboration with Pfizer. BioNTech has cut full-year R&D expense guidance by 400 million euros ($440 million) as part of a “company-wide cost optimization” effort, though management relayed few details on the extent of the plans.  The German biotech’s trimming means the full-year R&D expense guidance has come down from the previously announced range of 2.4-2.6 billion euros ($2.6-2.8 billion) to 2-2.2 billion euros ($2.2-2.4 billion), according to Monday's second-quarter earnings presentation. CFO Jens Holstein coyly described the changes as a way to “increase cost consciousness.”  “It is our aim to move our clinical programs forward as quickly and cost-efficiently as possible towards becoming a multi-product company,” Holstein said on the earnings call. A spokesperson for BioNTech said that the measures were "process- and procedures-related" and layoffs have not followed. The number of employees has continued to increase, the spokesperson added.  Holstein said later in the call that some of the cost cuts pertain to the company’s COVID-19 collaboration with Pfizer but that they mainly centered on internal efforts, “in the areas of oncology, for example, or in building up production capacities.”  “Those have been specific areas where we just look at controlling our costs going forward to have more flexibility,” he said. Chief Strategy Officer Ryan Richardson added that Pfizer’s cost-cutting efforts, particularly those around the two companies' COVID-19 vaccine Comirnaty, would have little impact on BioNTech’s operating expenses. A peek at the biotech's pipeline gives a clue as to where research expenses are no longer flowing. The company has culled BNT141, one of two RiboMab programs—a term for bispecific monoclonal antibody-encoding mRNA. The asset was in the middle of a phase 1 study in patients with CLDN18.2-positive solid tumors, with the company having updated the clinical trial record in May to indicate that enrollment had been completed.  BioNTech also culled one of its FixVac programs in the middle of the second quarter, wiping away BNT115, which was tested in ovarian cancer patients. The clinical trial record was updated at the end of June, saying “the target number of evaluable patients defined in the study protocol could not be reached and recruitment for the trial was stopped at that point of time.” In addition, Sanofi and BioNTech announced in late July that the two companies had discontinued a jointly developed intratumoral therapy using mRNA-encoded cytokines.  Along with the shrunken R&D expenses, BioNTech has shifted selling, general and administrative expense guidance down 50 million euros ($55 million) for the year and capital expenditure for operating activities is also now expected to come in at 150 million euros ($165 million) less than previous estimates. Despite the cost-cutting efforts, M&A activity is not being put on the back burner, Richardson said, describing an appetite for similar in-licensing opportunities and small deals that have largely defined BioNTech’s strategy to date. The Chief Strategy Officer said deals that are “under a billion” are the company’s sweet spot. “We will look at and consider larger deals but I think it has to be a very, very good strategic fit for us to make a larger move,” he said. “We do see opportunities in that sub-1 billion range to further bolster the pipeline.” 

DUBLIN, May 8, 2023 /PRNewswire/ -- The "Pancreatic Cancer - Competitive landscape, 2023" report has been added to ResearchAndMarkets.com's offering. This "Pancreatic Cancer- Competitive landscape, 2023" report provides comprehensive insights about 250+ companies and 300+ drugs in Pancreatic Cancer Competitive landscape. It covers the therapeutics assessment by product type, stage, route of administration, and molecule type. It further highlights the inactive pipeline products in this space. In March 2023, Adaptimmune Therapeutics plc. and TCR Therapeutics Inc. (NASDAQ: TCRR), announced entry into a definitive agreement under which Adaptimmune will combine with TCR in an all-stock transaction to create a preeminent cell therapy company focused on treating solid tumors. The combination provides extensive benefits for clinical development and product delivery supported by complementary technology platforms. As a result, and following the closing of the transaction, it is anticipated that the combined company's cash runway will extend into 2026. In February 2023, Akamis Bio, announced an expansion of its ongoing partnership with the Parker Institute for Cancer Immunotherapy (PICI) to include a clinical collaboration with the Cancer Research Institute (CRI) that will focus on advancing novel treatments for pancreatic cancer. As part of the Akamis Bio, PICI, and CRI partnership, NG-350A, an immuno-stimulatory tumor gene therapy driving intratumoral expression of a CD40 agonist monoclonal antibody, will be evaluated in combination with standard-of-care chemotherapy and the CTLA-4 inhibitor ipilimumab (YERVOY). In February 2023, Gritstone bio, Inc. announced that it has entered into a clinical trial agreement with the National Cancer Institute (NCI), an institute of the National Institutes of Health, to evaluate an autologous T cell therapy expressing a T cell receptor targeting mutated KRAS in combination with Gritstone's KRAS-directed vaccine candidate, SLATE-KRAS, in a Phase 1 study. Under the terms of the agreement, NCI will identify patients with metastatic cancer that are eligible for adoptive cell transfer based on the presence of a G12V or G12D KRAS mutation (KRASmut). In February 2023, Keymed Biosciences Inc., jointly announced a global exclusive license agreement with AstraZeneca for CMG901, a potential first-in-class Claudin 18.2 antibody drug conjugate (ADC). Under the license agreement, AstraZeneca will be responsible for the research, development, manufacture and commercialization of CMG901 globally. CMG901 is currently in a Phase I clinical trial for the treatment of Claudin 18.2-positive solid tumors. In January 2023, AIM ImmunoTech Inc. announced it has entered into an external sponsored collaborative clinical research agreement with Erasmus MC and AstraZeneca. Under the agreement, Erasmus MC is planning to perform an investigator-initiated clinical study, entitled "Combining anti-PD-L1 immune checkpoint inhibitor durvalumab with TLR-3 agonist rintatolimod in patients with metastatic pancreatic ductal adenocarcinoma for therapy effect. DURIPANC Study," in which it will use both Study Drugs provided by AstraZeneca and AIM ImmunoTech. Pancreatic Cancer Analytical Perspective In-depth Commercial Assessment: Pancreatic Cancer Collaboration Analysis by Companies The Report provides in-depth commercial assessment of drugs that have been included, which comprises collaboration, agreement, licensing and acquisition - deals values trends. The sub-segmentation is described in the report which provide company-company collaboration (licensing/partnering), company academic collaboration and acquisition analysis in tabulated form. Key Questions Answered Current Treatment Scenario and Emerging Therapies: How many companies are developing Pancreatic Cancer drugs? How many Pancreatic Cancer drugs are developed by each company? How many emerging drugs are in mid-stage, and late-stage of development for the treatment of Pancreatic Cancer? What are the key collaborations (Industry-Industry, Industry-Academia), Mergers and acquisitions, licensing activities related to the Pancreatic Cancer therapeutics? What are the recent trends, drug types and novel technologies developed to overcome the limitation of existing therapies? What are the clinical studies going on for Pancreatic Cancer and their status? What are the key designations that have been granted to the emerging and approved drugs? Key Players Panbela Therapeutics ERYtech Pharma Jiangsu HengRui Medicine Co., Ltd. FibroGen Novartis AG AB Science TME Pharma AG Intensity Therapeutics Silenseed LTD SynerGene Therapeutics Elevation oncology Salspera LLC Redx Pharma Plc AIM ImmunoTech Inc. Rain Oncology Jazz Pharmaceuticals Invyte Corporation Immodulon Therapeutics Ltd GSK plc Merck Sharp & Dohme LLC Roche Helsinn Healthcare SA Argenus Inc. Actuate Therapeutics OSE Immunotherapeutics Incyte Corporation Galera Therapeutics CSPC ZhongQi Pharmaceutical Technology Astellas Pharma Global Development, Inc. NanOlogy Theriva Biologics AstraZeneca Berg, LLC Agenus ABVC BioPharma, Inc. Boehringer Ingelheim Alligator Bioscience CARsgenTherapeutics Co.,Ltd Purple Biotech Ltd. Lisata Therapeutics Chongqing Precision Biotech Co., Ltd Cybrexa Therapeutics Bold Therapeutics BioNTech SE Bristol-Myers Squibb DEKA Biosciences Senhwa Biosciences Cue Biopharma Carisma Therapeutics Inc Key Products Olaptesed pegol INT230-6 SBP-101 Masitinib NIS793 siG12D LODER SGT-53 Seribantumab Salmonella-IL2 RXC004 Rintatolimod RAIN-32 Lurbinectedin Retifanlimab IMM-101 GSK2256098 Belzutifan Atezolizumab Anamorelin AGEN1423 Elraglusib OSE2101 Epacadostat GC4711 Docetaxel Zolbetuximab NanoPac VCN-01 Danvatirsen BPM31510 Botensilimab ABV-1703 BI 907828 Mitazalimab CT041 CM24 CEND-1 CEA-targeted CAR-T cells CBX-12 BOLD-100 BNT141 BMS-813160 DK210 CX-5461 CUE-102 CT-0508 For more information about this report visit About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. 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