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January 7, 2014
09:30 EDTCGENCompugen to 'significantly' expand immuno-oncology activities in 2014
Compugen announced that it is "significantly" increasing its Pipeline Program activities in the field of immuno-oncology. The primary purpose of the increase is to allow research and preclinical activities for a larger number of checkpoint target and product candidates for cancer immunotherapy to move forward in parallel. Additional objectives include the establishment of a biomarker discovery program for certain of the company’s checkpoint product candidates and the acceleration of experimental validation efforts for the recently disclosed antibody drug conjugate target candidates for oncology. The company said, "These expanded activities are anticipated to result in more than a 60% increase in our annual R&D cash expenditures, from approximately $10M in 2013 to more than $16M budgeted for 2014. Having begun 2014 with more than $50M in available resources, we are confident that this increased R&D budget, providing for a substantially expanded program in oncology while maintaining approximately the same level of expenditures for the immunology arm of our Pipeline Program, is fully consistent with our financial status and outlook.”
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