Bergen, Norway

BerGenBio is a clinical-stage, biopharmaceutical company based in Bergen, Norway and Oxford, UK. It is developing innovative therapies for aggressive cancers by way of inhibiting the AXL signalling pathway. The lead oncology compound, bemcentinib, is in multiple Phase II trials.

Investment Perspective

2019 marked another year of strong clinical progress with bemcentinib. BerGenBio is firmly focused on its development in non-small cell lung cancer (NSCLC) and acute myeloid leukaemia (AML) in the second-line (2L) settings, with promising clinical results so far. In 2L NSCLC, the mPFS of 8.4 months seen in AXL+ patients in Cohort A of the ongoing Phase II combination study with pembrolizumab is 4x more than would be expected with pembrolizumab monotherapy. In AML, the FDA has granted fast track status for bemcentinib in the treatment of elderly 2L AML patients; initial data from the current study with low dose cytarabine (LDAC) is promising with responses of >12 months. A recent private placement, raising NOK219.9m, enables BerGenBio to complete current clinical trials and the Phase Ib study with monoclonal antibody tilvestamab (BGB149). We value BerGenBio at NOK3.54bn (NOK48.31/share).

Market information

SymbolPrimary exchanges


Focused on second-line NSCLC and AML
Update | 12 Feb 2020
AXL opportunities opening up
Outlook | 08 Jan 2020
ASH data continues to support AML potential
Lighthouse | 10 Dec 2019

Recent News

Covid-19 impact assessment
27 Mar 2020
Approval of prospectus
26 Feb 2020
Results for Q4 and FY19
11 Feb 2020
Private placement of cNOK220m
30 Jan 2020