IMCF-106C is a fusion protein commercialized by Immunocore, with a leading Phase III program in Melanoma. According to Globaldata, it is involved in 2 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of IMCF-106C’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for IMCF-106C is expected to reach an annual total of $398 mn by 2039 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
IMCF-106C Overview
IMCF-106C is under development for the treatment of non-small cell lung cancer, synovial sarcoma, small cell lung cancer, ovarian cancer, endometrial cancer, urothelial carcinoma, triple-negative breast cancer , cutaneous melanoma, mucosal melanoma, head and neck squamous cell carcinoma, acute myeloid leukemia and uveal melanoma. It is a bispecific fusion protein comprises of T cell receptor (TCR) with an anti-CD3 single-chain antibody fragment (scFv). The drug candidate is developed based on Immune mobilizing monoclonal T-cell receptor against cancer (ImmTAC) technology. It is administered through intravenous route. The drug candidate acts by targeting preferentially expressed antigen in melanoma (PRAME).
Immunocore Overview
Immunocore is a biotechnology company that- focuses on the development of immunotherapeutic drugs for the treatment of cancer, infectious diseases, and autoimmune diseases. The company develops its drugs using proprietary T cell receptor (TCR) technology. Its products under development include IMC-C103C, IMC-F106C, IMC-I109V, IMC-M113V and IMCgp100. The company works in collaboration with various pharmaceutical companies, to develop its product candidates for the treatment of metastatic cutaneous melanoma; cancer; and other indications. It has presence in the UK, the US, Australia, New Zealand and Asia, Europe. Immunocore is headquartered in Oxfordshire, the UK.
The company reported revenues of (British Pounds) GBP143.7 million for the fiscal year ended December 2022 (FY2022), compared to a revenue of GBP26.5 million in FY2021. The operating loss of the company was GBP39.6 million in FY2022, compared to an operating loss of GBP135.2 million in FY2021. The net loss of the company was GBP41.2 million in FY2022, compared to a net loss of GBP131.5 million in FY2021.
The company reported revenues of GBP51.5 million for the third quarter ended September 2023, an increase of 7.8% over the previous quarter.
For a complete picture of IMCF-106C’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
