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https://www.ft.com/content/85ab8fe2-d1ec-47e9-83f9-4802682a1c94
Investors’ interest in anti-obesity drugs sometimes seems all-consuming. Yet weight-loss treatments are not the only source of excitement in the world of pharmaceutical research.
A class of molecules known as antibody-drug conjugates (ADCs) is generating buzz. These use antibodies to deliver chemicals directly to tumours, making them the guided missiles of the cancer world. Invented decades ago, they have recently improved so much that developers such AstraZeneca talk about them replacing conventional chemotherapy. When the UK company and its Japanese partner Daiichi Sankyo revealed impressive breast cancer trial results for their ADC Enhertu in 2022, oncologists broke into a standing ovation.
Daiichi Sankyo is expected to be the ADC leader in 2028 with nearly $10bn of sales, according to Evaluate. It trades on a price/earnings multiple of 50 times, the kind of hefty multiple normally associated with obesity stocks. Novo Nordisk is on a 37 times multiple and Eli Lilly on 59 times. Some estimates of the long-term market potential invite parallels with obesity drugs. Morgan Stanley reckons the ADC market could eventually be worth more than $140bn.
That bullish estimate is based on a one-for-one switch from conventional chemotherapy, which accounts for more than 37 per cent of US cancer prescriptions. Healthcare funders might resist this on cost grounds; most chemotherapies have lost their patent protection and are relatively inexpensive. In April, access to Enhertu in England was blocked on value-for-money grounds although it got a green light in Scotland.
Investors should also worry that the market is getting overcrowded. Roche, Johnson & Johnson and Denmark’s Genmab have all inked deals this year, following nearly $100bn of ADC-focused M&A and partnership transactions last year. This included a Merck agreement with Daiichi Sankyo worth up to $22bn, Pfizer’s $43bn acquisition of lossmaking Seagen and AbbVie’s $10.1bn acquisition of ImmunoGen. The latter represented a 95 per cent premium to the undisturbed price.
The ImmunoGen deal came four decades after the company started working on the first generation of ADCs. Some of the current hopes for ADCs — which includes using them to treat bacterial infections and autoimmune diseases — could fail or take a long time to come to fruition.
The money pouring into ADCs is a reminder of just how important oncology is to the pharmaceutical sector, even as obesity steals the limelight. It is the industry’s biggest source of sales, with projec
Sorry, not very good at cutting and pasting.
Add in the potential efficacy of FAP release Affimer conjugates , plus ease of production & !?
Watch this space for a deal.
Good Morning : Thanks for sharing Knotagain
Avacta Peptide Drug Conjugates – Multiple advantages over traditional ADC
https://avacta.com/precision/precision-drug-conjugate-pdc/
--------- "price/earnings multiples" very impressive . Avacta need to list in USA .
"Daiichi Sankyo is expected to be the ADC leader in 2028 with nearly $10bn of sales, according to Evaluate. It trades on a price/earnings multiple of 50 times, the kind of hefty multiple normally associated with obesity stocks. Novo Nordisk is on a 37 times multiple and Eli Lilly on 59 times. Some estimates of the long-term market potential invite parallels with obesity drugs. Morgan Stanley reckons the ADC market could eventually be worth more than $140bn."
'Although ADCs have many advantages, they also face problems such as complex pharmacokinetics, inevitable side effects, and ineffective payloads release [3]. Many of these problems are related to the mAb component. In view of this, one idea to improve targeted therapy is to abandon the structure of traditional mAbs and instead choose to conjugate toxic reagents with CTP with small molecular weights to generate novel targeted therapy drugs, namely PDCs. The mechanism of action of PDCs is shown in Fig. 1.
PDCs targeted cancers are an emerging targeted treatment method and are mainly composed of three parts:'
If you're a tad bored today...here's the fill text...
https://www.sciencedirect.com/science/article/abs/pii/S0223523423010863#:~:text=The%20emergence%20of%20ADCs%20has,effectively%20alleviated%20the%20side%20effects.