Nofazinlimab is a monoclonal antibody commercialized by EQRx, with a leading Phase III program in Hepatocellular Carcinoma. According to Globaldata, it is involved in 4 clinical trials, of which 3 were completed, and 1 is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Nofazinlimab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for Nofazinlimab is expected to reach an annual total of $14 mn by 2037 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.

Nofazinlimab Overview

Nofazinlimab is under development for the treatment of solid tumors including soft tissue sarcoma, LPS (dedifferentiated or other high grade liposarcoma), malignant pleural mesothelioma (MPM), bladder cancer,  advanced hepatocellular carcinoma, merkel-cell carcinoma, colon cancer, melanoma, gastrointestinal stromal tumour (GIST), gastric cancer, oesophageal carcinoma, small-cell lung cancer (SCLC), large-cell lung cancer (LCLC), lymphoma, head and neck squamous cell carcinoma (HNSCC) or cutaneous squamous cell carcinoma (cuSCC) or tumors with microsatellite instability-high (MSI-H) or deficient mismatch repair (dMMR), laryngeal squamous cell carcinoma, uterine leiomyosarcoma, esophageal squamous cell carcinoma and gastric adenocarcinoma. It is administered through the intravenous route of administration. The drug candidate is a humanized IgG4 anti-PD-1 monoclonal antibody developed based on hybridoma technology platform. It acts by targeting programmed cell death 1 (PD1).

EQRx Overview

EQRx is a biotechnology company that focuses on creating novel patent-protected medicines at lower prices. The company leverages advanced science and technology techniques focused on re-engineering the process of drug discovery and development of small molecule and biologic drugs for life threatening and chronic diseases treatments, with significant focus on cancer, immuno-inflammatory and genetic diseases. EQRx offers new medications less than the price of traditional pharmaceutical companies, and markets directly to payers and hospital systems instead of consumers. The company is funded by Google Ventures, ARCH Venture Partners LP, Andreessen Horowitz LLC, Casdin Capital LLC, Section 32, Nextech Venture Ltd and Arboretum Ventures LLC. EQRx is headquartered in Cambridge, Massachusetts, the US.

The operating loss of the company was US$196.4 million in FY2021, compared to an operating loss of US$250.1 million in FY2020. The net loss of the company was US$100 million in FY2021, compared to a net loss of US$250 million in FY2020.

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

GlobalData

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.