Compugen Ltd. (CGEN +3.5%) is up in early trade on light volume on the heels of its announcement that licensee Bayer AG (OTCPK:BAYRY +0.3%) presented encouraging preclinical data on BAY 1905254 at the American Association of Cancer Research Annual Meeting in Chicago.
BAY 1905254, formerly CGEN-15001T, inhibits a protein called ILDR2 (immunoglobulin like domain containing receptor 2), a new immune checkpoint discovered by Compugen.
Preclinical work in mouse models showed anti-tumor activity as monotherapy and in combination with other cancer treatments. The first in-human studies should commence later this year.
Previously: Compugen signs development deal with Bayer; shares soar (Aug. 5, 2013)