Ann: VLA update on CAVATAK KEYTRUDA Combination trials - ESMO-VLA.AX, page-25

Hi Lopez

Yes, the CANON trial results are fantastic, but I can see why Bioshares think that this will be a low priority for VLA.

Firstly, there was a problem recruiting enough trial participants (only 15 recruited versus a plan of 25). Most people opt for immediate surgery rather than taking a risk on a clinical trial.

Secondly, my understanding is that a Phase 2 trial design would compare Cavatak with/without mitomycin-C or checkpoint inhibitors followed by surgery, versus immediate surgery as the control. The efficacy would based on the number of recurrences of the cancer (which is quite common with surgery alone but it can take a long time for the cancer to reappear). Monitoring of the patients could be for 2-3 years looking for recurrences.
So a Big Pharma run trial may take 3 years (minimum) to complete whereas it would take VLA 4-5 years based on past history.

I think it's better to leave this indication to a big pharma assuming a licencing deal or partnership transaction is arranged.

Just my opinion ...

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