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Redeye sees the initiation of the first phase I trial with IGM-8444 together with birinapant as confirmation that the project is advancing according to plan. IGM is investigating IGM-8444 in subjects with relapsed and/or refractory solid cancers, both as a single agent and in combination with other agents. It licensed birinapant in January this year in order to combine it with its own IGM-8444. The extra cash injection of USD 1.5m paid upon trial initiation is a useful addition for Medivir. Medivir is entitled to milestone payments of up to a total of around USD 350m, plus tiered royalties from the mid-single digits up to mid-teens on net product sales.
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