Congrats to our portfolio company Syntara on presenting excellent Phase 2 data in myelofibrosis at the American Society of Hematology (ASH) annual meeting. The results highlight continued improvement in symptoms and spleen volumes over time, coupled with an outstanding tolerability profile - key factors that set SNT-5505 apart from other drugs in development. We believe that SNT-5505 is well positioned with this data and its unique mechanism of action. There is a massive unmet need in myelofibrosis for treatments that do more than just treat symptoms, but rather modify the disease and improve survival. Syntara is a perfect example of the valuation disparity we see between Australia and the US. Kartos are developing navtemadlin for myelofibrosis and conducted a raise in Aug-23 of the back of their Phase 2 trial in the same patient population raising US$150m on a pre-money valuation of US$500m. This ~A$1b post-money valuation is more than 10x higher than Syntara's ~A$80m market cap - a disparity that does not reflect the quality of Syntara's results. Exciting times ahead.
We're pleased to announce positive interim data from our ongoing Phase 2 clinical trial evaluating SNT-5505 (200 mg BID) in combination with ruxolitinib for the treatment of myelofibrosis. The interim results suggest that SNT-5505 has potential as a breakthrough therapy for MF and is being presented today at the 66th American Society of Hematology annual meeting. Further interim data will be released in 1H 2025 and final data in 2H 2025. The results show that 46% of evaluable patients achieved a TSS50 at 12 weeks, which improved to 80% by 38 weeks, demonstrating significant symptom relief over time. Additionally, 82% of evaluable patients experienced stable or reduced spleen volume, with 30% achieving an SVR25 and 20% achieving an SVR35, indicating clinically meaningful spleen volume reductions. CEO Gary Phillips added: “A well tolerated drug that produces increasing and durable benefit the longer patients stay on is an exciting prospect and would differentiate SNT-5505 from other MF drugs on the market and in development. The changes in symptom score seen in the interim data at 9 months, albeit from a relatively small cohort of patients, suggests a superiority to other drugs that have been trialled in this patient group and are particularly important given the emphasis that the FDA and other regulatory bodies place on this measure. We will continue to analyse the data coming in, and anticipate requesting feedback from the FDA on the next stage of clinical development in Q2 2025 when we will have a number of patients with 12 months of treatment data.” Read the full ASX Announcement here: https://lnkd.in/gqzE2-Mx #Syntara #Myelofibrosis #SNT5505 #ClinicalTrials #Biotech #ASX #ASXNews #SNT
