Imperial peanut allergy biomarker study underway
Lighthouse | 5 January 2021
Trinity Delta view: The start of the biomarker study of Allergy Therapeutics’ peanut allergy vaccine candidate represents a step forward for this development programme and should facilitate a smooth transition into Phase I later this year. It is the first VLP-based vaccine in Allergy’s portfolio and addresses a sizeable and underserved market. The collaboration with Imperial College is significant as both the peanut allergy biomarker study and the wider collaboration should generate important new insights that can used by Allergy in the design of future allergy immunotherapy clinical trials, mitigating the risks of inconclusive results based on subjective endpoints. Our current £325m (51p/share) SOTP valuation of Allergy Therapeutics includes a DCF of the commercial operations (£87m or 14p/share), a pipeline rNPV (£204m or 32p/share), and net cash.
5 January 2021
Allergy Therapeutics specialises in the diagnosis and treatment of allergy. The existing European business generates c £80m annual sales. Near-term R&D efforts are focussed on the Pollinex Quattro platform, whilst in the medium-term the VLP platform is highly promising.
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