* Seeking funding for Texopi late-stage trials
* Aims to launch IPO by year-end
PARIS, Sept 18 (Reuters) - French cancer immunotherapyspecialist OSE Pharma has registered with market regulator AMFfor an initial public offering (IPO) aimed at financinglate-stage trials of its Texopi drug for the most common form oflung cancer, the company said on Thursday.
Joining a string of European biotech businesses to considera stock market listing this year, OSE Pharma is aiming toemulate the success of allergy drug company Circassia, whichraised 200 million pounds ($327 million) with its Marchflotation.
Texopi has already been tested in a Phase II study inpatients with non-small cell lung cancer and is set to undergoPhase III trials in the second half of next year, at anestimated cost of 20 million euros ($25.8 million) based onindustry standards.
OSE Pharma, which aims to launch the proposed IPO before theend of this year, develops immunotherapy products that fightinvasive late-stage cancers by educating the body's immunesystem to attack tumour cells.
Its injectable treatments are designed to halt the progressof cancer and extend the lives of patients when first-linetreatments such as chemotherapy have failed to control thedisease.
Boosting the body's immune system to fight tumours is a hotarea for drug research, dominated by Big Pharma names such asBristol-Myers Squibb, Roche and Merck & Co. Analysts estimate the market to be worth tens ofbillions of dollars in annual sales.
The Phase II study of Texopi showed a one-year survival rateof 59 percent, compared with only 33 percent for patients takingexisting second-line treatments.
Texopi has been granted "orphan drug" status in the UnitedStates, which means it will receive seven years of marketexclusivity if approved.
Lung cancer is generally not diagnosed in patients until ithas reached an advanced stage and kills about 1.6 million peopleeach year, according to the World Health Organisation.
OSE Pharma estimates that the global market for Texopi inlung cancer could reach 2 billion euros.
The company also aims to develop the drug for ovarian, colonor breast cancer. It has yet to decide which of thoseapplications to focus on first but plans to begin a Phase IItrial by the end of the year.($1= 0.7767 euro)(1 US dollar = 0.6123 British pound)
(Reporting by Natalie Huet; Editing by David Goodman)
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