(IO-102 + IO-103) is a subunit vaccine commercialized by IO Biotech, with a leading Phase III program in Metastatic Melanoma. According to Globaldata, it is involved in 10 clinical trials, of which 8 are ongoing, 1 is planned, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of (IO-102 + IO-103)’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

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The revenue for (IO-102 + IO-103) is expected to reach an annual total of $260 mn by 2038 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.

(IO-102 + IO-103) Overview

PD-L1/IDO (IO102/IO103) peptide vaccine is under development for the treatment of melanoma, metastatic melanoma, head and neck cancer and non muscle invasive bladder cancer (NMIBC), metastatic non-small cell lung cancer (NSCLC), squamous cell carcinoma of head or neck (SCCHN), metastatic urothelial bladder cancer (mUBC), ureter cancer, kidney cancer (renal cell cancer), bladder cancer, urethral cancer, lung adenocarcinoma, metastatic transitional cell carcinoma (urothelial cell carcinoma), oral cavity cancer, oropharyngeal cancer, hypopharyngeal cancer and laryngeal cancer and metastatic solid tumors. It comprises of programmed cell death ligand 1 (PD-L1) and indoleamine 2,3-dioxygenase (IDO) peptides. It acts by targeting PD-L1 and IDO. It is developed based on T-win technology. It is administered through subcutaneous route.

It was under development for head and neck cancer.

IO Biotech Overview

IO Biotech is a clinical-stage biopharmaceutical company that develops disruptive immune-modulating anti-cancer drugs. The company is investigating IO102-IO103, novel immune-modulating vaccines for the indications of melanoma and solid tumors. It also offers IO112 and IO170 product candidates for solid tumors. IO Biotech candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression. It also utilizes T-win technology platform to discover, design and validate new immune-modulating vaccine candidates. The company operates in the US, Denmark and the UK. IO Biotech is headquartered in Copenhagen, Denmark.
The operating loss of the company was US$71.4 million in FY2022, compared to an operating loss of US$41.2 million in FY2021. The net loss of the company was US$71.5 million in FY2022, compared to a net loss of US$67.9 million in FY2021.

For a complete picture of (IO-102 + IO-103)’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

This content was updated on 18 March 2024

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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.