Adaptimmune Therapeutics plc (NASDAQ:ADAP) Q4 2022 Earnings Call Transcript

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So actually, long term, you can think about MAGE-A4, gavo-cel and PRAME, all expressed in a minority of ovarian cancer patients. But together, the opportunity to offer a cell therapy treatment to a larger population of ovarian cancer patients and to look at the patients with multiple antigens and think about whether there’s the opportunity to multi-antigen strategies, to be able to get to better outcomes for patients with multi-antigen strategies. Long term, of course, you think about all of that on the allo platform as well and the opportunities there. So, I just think there’s a real opportunity over the long term to think about how to optimize this. In the short term, however, I think what we’ve got is MAGE-A4 CD8 in a Phase II trial that we hope to become registrational or SURPASS-3, that could become a product for us there.

And gavo-cel in a trial in combination with checkpoint inhibitors with a readout this year, and that’s very pragmatically where we need to be focused in the short term.

Soumit Roy: Got it. And on the commercialization side, we see Cintia Piccina is leaving. So is there a reshuffling going on, on the commercial team? And how is this — how are you going to combine the R&D team from these two different companies because they seem to be specialized in their own ways with their own products? Is that expense going to be completely additive with probably 25% reduction on the TCR2 side and also the clinical team? It seems like everything is adding up rather than having a synergy there?

Adrian Rawcliffe: Yes. So, I think we’re just starting integration planning. So it’s not appropriate for us to talk specifically about particular areas. However, I think for Cintia, leaving as Chief Commercial Officer, Cintia has built a great team. That decision was associated with the reductions that we announced as an organization last year. But Cintia has built a great team that will enable us to continue with the commercial planning and strategy for afami-cel in due course. In addition, Cintia will continue as a consultant for us, in particular, on commercial strategy associated with that program. So, that relates to the previous discussions that we’ve had and the decisions we made last year. With respect to synergies, we’re just starting integration planning, and we’ll have more to say on that in due course.

Clearly, the balance of this is that there are unique skill sets on both sides that we will need to preserve and leverage in order to be able to realize our ambitions for this pipeline. And at the same time, it’s obvious that there are things like establishment costs, et cetera, that are duplicated between the two companies.

Soumit Roy: Thank you. And good luck in 2023. It’s going to be a busy year for you guys.

Adrian Rawcliffe: It certainly is.

Operator: Our next question comes from Yanan Zhu of Wells Fargo Securities. Please go ahead.

Yanan Zhu: Hi. Thanks for taking the question. I just have a quick one on timeline to durability of response data for the respective ovarian cancer product candidates from both companies. Maybe for MAGE-A4 that if you could also comment on the IO combo, when might we see durability of response, when might we have a sense of the potential expansion and the durability of response? Thank you.

Adrian Rawcliffe: Okay. I think you are right. So specifically on the MAGE-A4 because I think we’ve answered that on the gavo-cel side because that’s in progress at the moment. So with respect to MAGE-A4, actually, the reason that we designed the SURPASS-3 trial in the way that we did with an independent monotherapy and combination arm is because we want to assess the potential for the CD8 program as monotherapy to actually be a registrational program. That’s why we did that. So it’s pretty obvious we think that from that, that there’s a reasonable chance that the durability is sufficient to enable end registration there. Otherwise, we wouldn’t have designed the trial in that way. However, the add-on with PD-1 is to drive depth and durability and potentially number of responders in that setting.

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