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Arix Bioscience Notes First Patient Dosed In Harpoon's HPN217 Trial

Mon, 27th Apr 2020 16:59

(Alliance News) - Arix Bioscience PLC on Monday said portfolio company Harpoon Therapeutics Inc has dosed the first patient in its clinical trial of HPN217 in multiple myeloma, triggering a milestone payment.

Harpoon is developing HPN217 under its global licence and option agreement with US pharmaceutical firm AbbVie Inc as a treatment for relapsed, refractory multiple myeloma.

With the first patient in the phase 1/2 clinical trial now dosed, this has triggered a USD50 million milestone payment to Harpoon.

HPN217 is the third of Harpoon's product candidates to enter the clinic and it "is based on Harpoon's proprietary tri-specific T cell activating construct (TriTAC) platform designed to recruit a patient's own immune cells to destroy tumours."

As at February 14, following Harpoon's initial public offering, Arix held a 12% stake in Harpoon worth GBP31.3 million.

Shares in Arix ended flat at 85.00 pence in London on Monday.

By Anna Farley; annafarley@alliancenews.com