Anchiano Therapeutics jumps after Chemomab merger

• Author: Gali Weinreb
• Date: 15 December 2020
• Published date: 15 December 2020
• Publication title: Globes (Rishon LeZion, Israel)

Anchiano had been developing a cancer treatment that did not meet its end targets in clinical trials. Since the announcement of the merger, Anchiano's share price has risen 168% to give a market cap of $32 million but is still 50% below its market cap in 2019.

Chemomab will also seek to complete a private placement financing to advance CM-101 into Phase II clinical trials in rare fibrotic indications, as well to further develop Chemomab's earlier-stage pipeline. Initial efforts will focus on orphan indications including primary sclerosing cholangitis (PSC) and systemic sclerosis (SSc), which are inflammatory-fibrotic diseases affecting multiple organs such as the liver (in PSC) and skin and lungs (in SSc). Both indications have a significant unmet need, with patients suffering from debilitating symptoms and no FDA-approved disease modifying treatment options. The merged company also expects to advance CM-101 into a Phase IIa trial to evaluate the antibody's anti-fibrotic effect in patients diagnosed with non-alcoholic steatohepatitis (NASH).

Anchiano chairman Stan Polovets said, "Following a comprehensive review of strategic alternatives, Anchiano's Board of Directors has concluded that the proposed transaction with Chemomab is in the best interest of our shareholders. Chemomab's CM-101 has demonstrated positive...