Incon "Immunomet demonstrates efficacy of anti-cancer drug for solid tumors at US conference... plans to expand as fibrosis treatment"

[Asia Economy Reporter Hyunseok Yoo] Immunomet, in which Incon is the largest shareholder, has demonstrated that its anti-cancer pipeline ‘IM156’ is the world’s first to inhibit the activation of carcinogenic factor proteins, thereby blocking carcinogenesis. Notably, at the ‘BIO CEO & Investor Conference’ held in New York, USA, IM156 also proved its therapeutic effects on solid tumors such as lung cancer and stomach cancer.

Incon announced on the 12th that its anti-cancer drug development subsidiary, Immunomet Therapeutics (IMMUNOMET Therapeutics), was invited as a speaker and participated in the ‘BIO CEO & Investor Conference’ held over two days on the 10th and 11th in New York, USA.

At this conference, Immunomet announced that its anti-cancer drug pipeline IM156, which recently completed Phase 1 clinical trials and is preparing for Phase 2, showed efficacy not only against drug-resistant cancer cells that existing immuno-oncology drugs could not overcome but also in treating various solid tumors such as lung cancer, stomach cancer, and brain tumors.

Now in its 22nd year, the BIO CEO & Investor Conference is a platform where major global big pharma companies attend to share the latest pharmaceutical and biotech issues through agenda presentations by field and one-on-one partnering meetings. This year, multinational pharmaceutical companies, institutional investors, and researchers from over 144 countries worldwide participated.

Benjamin R. Cowen, CEO of Immunomet, announced that the Phase 1 clinical trial results revealed for the first time in the world that IM156 inhibits the activation of Complex 1 protein, newly identified as a carcinogenic factor and a major energy source for cancer.

The clinical trial was conducted by varying the administered dose to test toxicity reactions. The clinical results showed that the dose was applied in a range from 200mg to 1,200mg, and the dose-limiting toxicity (DLT) was much lower than expected, which is considered a remarkable achievement of this trial.

Immunomet is currently preparing for Phase 2 clinical trials, which will proceed with an administered dose of 800mg.

IM156 is a small molecule oral drug extracted from biguanide and is a potent oxidative phosphorylation (OXPHOS) inhibitor. It has attracted attention because it can treat not only drug-resistant cancer cells but also cancer cells sensitive to OXPHOS inhibitors. In particular, it has shown high efficacy in solid tumors such as lung cancer, stomach cancer, and brain tumors, raising expectations among industry insiders that it could be effective against all cancer types.

A company representative stated, “As the largest shareholder of Immunomet, Incon plans to support clinical advancement through additional investments. In the third quarter of this year, we are preparing for a Phase 1b clinical trial to expand the indication of the IM156 pipeline to treat fibrosis, and we will spare no effort to ensure smooth progress of future clinical schedules.”

Meanwhile, on the 5th, Incon decided to make an additional investment in Immunomet and conducted a Series B investment worth $5 million, increasing its stake in Immunomet to 21.6% (1,069,651 shares). Incon plans to focus on Phase 2 clinical trials and indication expansion through this investment and additional funding.