Percheron’s Strategic Leap into Immuno-Oncology with VISTA Therapy Acquisition

June 26, 2025 01:16 PM AEST | By Team Kalkine Media

Percheron’s Strategic Leap into Immuno-Oncology with VISTA Therapy Acquisition — Image source: Shutterstock

A First-in-Class Approach to Targeting VISTA

HMBD-002 is a recombinant monoclonal antibody designed to inhibit VISTA (v-domain immunoglobulin suppressor of T-cell activation)—a checkpoint protein that plays a critical role in dampening immune responses in tumors. Unlike existing checkpoint inhibitors, HMBD-002’s focus on VISTA represents a potentially game-changing approach, especially for cancers resistant to PD-1 or CTLA-4 based treatments.

Early-stage Phase I trials in the US have shown that HMBD-002 was safe, well-tolerated, and pharmacologically active, offering an encouraging foundation for further development.

Deal Structure and Development Roadmap

The licensing agreement entails an upfront payment of US$3 million (~A$4.6 million), with additional milestone payments of up to US$287 million (~A$443 million) based on clinical, regulatory, and commercial outcomes. Tiered royalties will also be paid on future sales, contingent on the therapy receiving approval.

Percheron has announced plans to initiate a Phase II clinical trial in 2026, building upon the robust Phase I data. Preparations are already underway with clinical experts to develop a detailed trial strategy and submission plan.

Shifting Gears Post Avicursen

The move into immuno-oncology comes at a critical moment for Percheron, following its decision to pivot away from avicursen (ATL1102) after underwhelming clinical results. This strategic shift underscores the company’s commitment to innovation and addressing significant unmet needs in oncology.

CEO Dr James Garner described the acquisition as a “transformative step,” signaling the company’s renewed focus on being a mid-clinical-stage drug development entity. The partnership with Hummingbird—an innovator in antibody therapeutics—further bolsters this transition.

Rising Potential Among ASX200 Stocks

As Percheron charts a new path, its inclusion in ASX200 index may elevate its visibility among investors focused on breakthrough health sciences. With global rights to a potentially first-in-class VISTA-targeting therapy, the company is positioning itself at the forefront of immuno-oncology innovation.

The next few months will be crucial as Percheron finalises the asset transfer, refines development plans, and prepares for what could be a landmark clinical milestone by 2026.

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