Why IMU is a multi multi bagger, page-12504

Shame that the previous government did not listen to Leslie. I think Australia could well have been the Cancer research hub of the world when she had this interview in 2021.

Cancer biotech Imugene calls on Australia to boost local research (smh.com.au)

Cancer biotech Imugene calls on Australia to boostlocal research

The boss of cancer-fighting outfit Imugene says nowis the time for Australia to double down on investment in clinical trialsinfrastructure to become a magnet for global pharmaceuticals firms.

“If we can prove that you can develop medicationhere, success breeds on success,” said Leslie Chong. “If you build it, theywill come.”

Imugene’s shares have been on a tear the past 12months, gaining 1033 per cent to 34c as the company has updated the market onits key research projects. The biotech has no product on the market yet, butits sharemarket value has swollen beyond $2 billion over the past few months.

Leslie Chong is chief executive of Imugene, whichhas seen its share price rally more than 1000 per cent over the pastyear. CREDIT:PAUL JEFFERS

Investors have been taking notice of the companyafter it posted a number of key clinical updates on its immunotherapy products,including phase 1 trial data for its HER-Vaxx cancer vaccine, designed to treatcancers that over-express a protein called HER-2, like gastric and breastcancers.

“The problem we are simply trying to solve iscancer — not easy to solve, but we’re very focused on righting the wrong ofyour immune system, ultimately,” Ms Chong said.

There is a long research road ahead, however. MsChong, who was previously the clinical program lead at US biotech Genentech,says the quality of the data is the most important thing for the company’slong-term value.

“If you don’t follow the science and you don’tdeliver on the science, value may never come,” she said.

As the coronavirus pandemic prompts state andfederal governments to make promises about onshore medtech manufacturing, Ms Chong says there is value in streamlining the nation’s clinical trial system and creating a plan to boost the number of research-specific hospitals and research centres.

Australia is only just starting to develop anapproach similar to the US, where trial hubs are often focused on particularareas such as oncology and provide easy and straightforward ways to startresearch, and “it would be great to have something like that,” she said.

A focus on streamlining trials would also helpboost local research while stopping inventions moving offshore, she said.

‘We’ve never done this before’:How do you vaccinate the world?

Over the past six months, some of the world’slargest pharma firms have clocked the opportunity that clinical trials researchpresents in Australia and have been pushing the government to make it easierfor trials to start here.

Companies including coronavirus vaccine makersPfizer and AstraZeneca have told a Senate committee reviewing the approvalprocesses for new drugs in Australia that the country should reduce clinicaltrial red tape.

Pfizer Australia’s Anne Harris told a House of Representativescommittee earlier this year that Australia was ”at an inflection point” when itcame to approving and researching new drugs.

The pharma giant told the government that ifAustralia was to continue to remain competitive as a clinical trials destination,it was critical the country “reduce red tape around how clinical trials arestructured and administered”.

This included a push for “clinical trialsharmonisation”, where each state and territory has a set of requirements forsetting up research instead of the current system, which involves severaldifferent frameworks.

COVID-19 vaccine maker AstraZeneca has also beenbacking the research push in Australia, calling for a national health registerto connect patients who volunteer with trials across the country.

“A national register would allow a seamlessconnection between doctors/researchers and patients who may benefit fromclinical trials. Currently many patients are not aware of available clinicaltrials for their condition, unless they are being conducted at their treatinghospital/clinic,” an AstraZeneca spokeswoman said.