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News: Imugene Limited appoints Charles Walker as managing director

  1. Australian immuno-oncology company Imugene Limited (ASX:IMU) has appointed Charles Walker as managing director, and will be appointed to the board with immediate effect.

    Imugene is developing a B-cell based immunotherapy, known as HER-Vaxx, for HER-2 positive gastric & breast cancer.

    Walker who was previously CEO, has already overseen an important period for the company including the significant advancement of product development activities, in addition to overseeing the recent capital raising.

    The Phase I trial is completed in patients with HER2+/++ breast cancer, with Phase I/II trial to begin 2H 2015.

    The technology originates from Medical University of Vienna, one of Europe’s leading cancer institutes.


    Recently the company advanced two additional milestones as it prepares to initiate the clinical program for its Her-Vaxx peptide vaccine in 2015.

    The company has substantially finalised the clinical protocol for the Phase Ib/II clinical trial in patients with gastric cancer.

    It has also appointed respected US nonclinical contract research organisation (CRO) WIL Research to conduct important FDA IND enabling preclinical studies to support the clinical trial planned by the company.

    Her-Vaxx has potential to improve upon Roche’s blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.

    It was developed by one of Europe’s leading cancer institutes with about $10 million already invested in the technology.

    Multiple price catalysts for near term valuation increase

    - Appoint CRO to run clinical trial 1H 2015
    - US FDA IND granted 1H 2015
    - Appoint Principal Investigator 1H 2015
    - Announce Preclinical toxicology results 1H 2015
    - Announce Preclinical immunologic results 1H 2015
    - Recruit and run lead in Phase 1b trial 2H of 2015
    - Recruit and run Phase II double-blind randomized placebo-controlled phase II trial 2H 2015
    - Report Phase I trial results 2H 2015 to 1H 2016
    - Report Phase II results 2H 2017 to 1H 2018


    Imugene has recently achieved two important milestones as it continues preparations to initiate the clinical program for its Her-Vaxx peptide vaccine in the second half of 2015

    The finalisation of the clinical protocol for the Phase Ib/II clinical trial and appointment of WIL Research to conduct important FDA IND enabling preclinical studies are both key steps towards conducting an efficient high quality Phase II trial that will draw attention from pharmaceutical companies.

    HER-Vaxx is one of the most advanced B-cell vaccines, designed to stimulate a patient’s own immune system to repeatedly attack the cancer.

    Imugene is focused on a 24 month program to deliver results/value inflection.

    The current market cap of circa $12 million (of which $3 million is cash) significantly undervalues the stock on upcoming milestones.

    Proactive considers that investors have not wholly tweaked to the "new" Imugene as yet, providing opportunities for investors with the share price hovering at $0.01

    Proactive Investors has estimated a 6-12 month share price target of $0.034 - $0.047.


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