[Click eStock] SCM Life Science... From Clinical Momentum to Nasdaq Listing Equity Value

[Asia Economy Reporter Lee Seon-ae] Korea Investment & Securities announced on the 9th that clinical momentum for SCM Life Sciences (SCM) is expected from next year. No investment opinion or target price was provided.

The moderate-to-severe atopic dermatitis stem cell therapy SCM-AGH is expected to complete patient recruitment for its Phase 2 clinical trial this year, with a Phase 3 IND application planned for 2022 (technology transferred to Handok), and product launch scheduled for 2026. Since Sanofi's moderate-to-severe atopic dermatitis treatment Dupixent is projected to generate $10.4 billion in sales by 2027 (Global Data), if the clinical results of SCM-AGH are supportive, it will attract market attention. The GvHD treatment SCM-CGH is currently in Phase 2 clinical trials. Designated as an orphan drug, conditional approval is expected in 2022 followed by market launch in 2023 depending on clinical outcomes. The acute pancreatitis treatment has also been designated as an orphan drug and is currently in Phase 2a clinical trials, with conditional approval expected in 2023 and market launch in 2024.

SCM Life Sciences and Genexine’s US joint venture CoImmune Inc. aims to list on NASDAQ in 2023. The market capitalizations of Allogene and Sana, which are developing next-generation CAR-T cell therapies, are approximately $3.3 billion and $4.0 billion, respectively. If CoImmune also goes public, it will be highly valued, and the value of SCM’s stake in CoImmune will receive significant attention. CoImmune’s immuno-cell therapy clinical trials are also progressing smoothly. The US Phase 2b clinical trial for the dendritic cell vaccine CMN-001 targeting metastatic renal cell carcinoma is currently recruiting patients. Researcher Songhoon Jeong of Korea Investment & Securities stated, “Based on the ongoing Italian Phase 1/2a clinical trial results of the CAR-CIK-based acute lymphoblastic leukemia cell therapy, Phase 2 clinical trials are planned to start in the US and Korea from 2022,” adding, “We expect a positive stock price trend for SCM, with clinical momentum and reflected equity value after listing.”

Meanwhile, SCM Life Sciences, established in 2014, is developing immune-targeted stem cell therapies for atopic dermatitis, chronic graft-versus-host disease (GvHD), and acute pancreatitis using its proprietary layered culture method. In October last year, it expanded into the brain disease field through a technology transfer from Taiwan’s Steminent for a stem cell therapy for spinocerebellar ataxia. Through CoImmune (26.8% stake), established in the US in 2019, it is conducting clinical trials for immuno-cell therapies targeting hematologic and solid cancers, including CAR-CIK-CD19 and dendritic cell cancer vaccines.