Bergen, Norway

BerGenBio is a clinical-stage, biopharmaceutical company based in Bergen, Norway and Oxford, UK. It is developing innovative therapies for aggressive cancers by way of inhibiting the Axl signalling pathway. The lead oncology compound, bemcentinib, is in multiple Phase II trials.

Investment Perspective

BerGenBio has reported promising results from its broad Phase II programme with bemcentinib focussed on acute myeloid leukaemia (AML) and non-small cell lung cancer (NSCLC) throughout 2018. Most notable were the data from the study in NSCLC in combination with the PD‑1 inhibitor pembrolizumab, in which patients with PD-L1 negative tumours responded well to therapy. The results thus far indicate the importance of biomarkers to identify those patients with Axl+ tumours, who are most likely to benefit from bemcentinib. The company is planning a series of randomised Phase II trials to confirm the findings to date, which are due to start in H219. BerGenBio also has two other products that have just entered clinical development. We value the company at NOK3.14bn, or NOK57.45/share.

Market information

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Resolution of Rigel arbitration reduces uncertainty
Lighthouse | 01 Mar 2019
Axl ready to turn another revolution
Outlook | 14 Feb 2019
Advancing towards randomised studies
Update | 26 Nov 2018

Recent News

Resolution of Rigel arbitration
28 Feb 2019
Results for Q418 and FY18
12 Feb 2019
Start of Phase I Trial Evaluating First-in-Class Anti-AXL Antibody BGB149
09 Jan 2019
Start of Phase II investigator-led trial with bemcentinib in high-risk MDS
04 Jan 2019