OSE Immunotherapeutics: A Biotech Powerhouse on the Rise

OSE Immunotherapeutics, a biotech company dedicated to developing first-in-class therapies in immuno-oncology and immuno-inflammation, has just reported its full-year 2024 financial results and provided a comprehensive corporate update. The company's performance in 2024 was nothing short of transformative, marked by positive efficacy results, major partnerships, and accelerated preclinical programs. Let's dive into the details and explore what this means for the future of OSE Immunotherapeutics.



Financial Performance and Strategic Partnerships

OSE Immunotherapeutics reported a total income of €83.4 million for the year 2024, with a cash level of €64.2 million as of December 31, 2024. This financial stability ensures the company's visibility until Q1 2027, providing a solid foundation for continued research and development. The company's strategic partnerships with AbbVie and Boehringer Ingelheim have played a crucial role in enhancing its financial position and growth prospects.

In February 2024, OSE Immunotherapeutics and AbbVie signed a licensing and collaboration agreement to develop ABBV-230, a monoclonal antibody designed to resolve chronic and severe inflammation. OSE received a $48 million upfront payment and is eligible for up to $665 million in clinical development, regulatory, and commercial milestones, plus potential tiered royalties on global net sales. This partnership not only provides immediate liquidity but also ensures future revenue streams.

In May 2024, OSE Immunotherapeutics and Boehringer Ingelheim announced a major expansion of their partnership, including a one-time payment of €25.3 million and potential milestone payments of up to €1.1 billion for the anti-SIRPα program expansions. Additionally, OSE received €13.5 million upon the asset acquisition and has a potential near-term milestone of €17.5 million. These payments bolster OSE's financial position and provide a steady income stream over the long term.

Clinical Advances and Pipeline Progress

OSE Immunotherapeutics has reported multiple positive clinical efficacy and safety results across its pipeline. One of the standout performers is Lusvertikimab, an anti-IL-7R monoclonal antibody, which showed positive and clinically meaningful Phase 2 induction results for ulcerative colitis. The drug demonstrated high rates of clinical and endoscopic remission, histological improvement, and Histo-Endoscopic Mucosal Improvement (HEMI) with a favorable safety profile. Further data will be presented at the Digestive Disease Week conference in San Diego in May 2025.

In the immuno-oncology space, OSE Immunotherapeutics launched Artemia, the global pivotal Phase 3 study of Tedopi® monotherapy in Non-Small Cell Lung Cancer (NSCLC) second-line treatment in patients with secondary resistance to immune checkpoint inhibitors. The study leverages previous randomized positive efficacy results from NSCLC third-line treatment and is on track for success. Additionally, the company reported positive topline results in pancreatic cancer, which will be presented at an upcoming medical conference this year. Further combination study readouts in ovarian and lung cancer are expected in 2026.

Future Outlook and Investment Potential

With over €90 million in non-dilutive cash accumulated in 2024 and a cash runway until 2027, OSE Immunotherapeutics is well-positioned to develop novel therapeutic options for patients. The company's strong and diversified clinical and pre-clinical portfolio, supported by its dedicated expert teams, positions it for significant value creation. Going forward, OSE will prioritize and strategically advance its two late-stage proprietary programs, aiming to fully realize their potential and create significant value for patients and shareholders.



Conclusion

OSE Immunotherapeutics' 2024 performance is a testament to its strategic vision and execution. The company's financial stability, robust clinical pipeline, and successful collaborations with leading pharmaceutical companies make it an attractive investment opportunity. As OSE continues to advance its late-stage proprietary programs, it is poised to create significant value for patients and shareholders alike. Investors should keep a close eye on this biotech powerhouse as it continues to make strides in the immuno-oncology and immuno-inflammation spaces.