Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) today announced that its CGEN-15001T protein has demonstrated therapeutic potential of a drug target for treatment of multiple cancers by means of monoclonal antibody (mAb) therapy.
These results indicate that CGEN-15001T is expressed on numerous types of cancer, such as carcinomas, sarcomas, melanoma and hematological cancers as well as on immune cells. These findings, together with previous results supporting its active immunomodulatory effect, strongly support CGEN-15001T’s potential as a powerful drug target for treatment of various solid and hematological cancers, an area of great interest to the pharmaceutical industry.
Compugen CEO Dr. Anat Cohen-Dayag said, "Immunotherapy is one of the most promising new approaches for the treatment of various cancers, and within this field, mAb immunotherapy appears to be the most rapidly growing segment. The mechanisms by which mAbs fight cancer are very versatile, including 'tagging' the malignant cell so that it is better recognized by the immune system, and blocking signals that promote growth and survival of cancer cells."
Compugen's share price rose 11.1% by mid-afternoon on the TASE today to NIS 21.77, after falling 0.9% on Nasdaq yesterday to $5.30, giving a market cap of $180 million. The share price rose 4.5% in premarket trading on Nasdaq today, following the announcement.
Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2012
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