Blog Coverage Celgene and Agios Team up with Abbott

LONDON, UK / ACCESSWIRE / October 13, 2016 / Active Wall St. blog coverage looks at the headline from Celgene Corp. (NASDAQ: CELG) and Agios Pharmaceuticals, Inc. (NASDAQ: AGIO) announced on October 12, 2016, that they had entered into collaborative agreements with Abbott Laboratories (NYSE: ABT) for the use of Abbott’s m2000 RealTime System to develop and commercialize companion diagnostic tests for identification of isocitrate dehydrogenase (IDH) mutations in acute myeloid leukemia (AML) patients. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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The Deal

Currently, Celgene is in the process of developing an IDH2 mutant inhibitor – enasidenib (AG-221/CC-90007), which is to be used for the treatment of patients with relapsed or refractory AML who have an IDH2 mutation. Agios is also developing a IDH1 mutant inhibitor – AG-120, which is to be used for the treatment of patients with relapsed or refractory AML who have an IDH1 mutation.

The collaboration can be seen in an article published online in the current week in Leukemia (Medeiros, Leukemia 2016), which emphasises that the targeted treatment of myeloid malignancies like IDH mutant inhibitors is possible only if there is a deeper understanding of the underlying genetics. The authors have recommended that IDH mutational analysis should become part of the routine of AML diagnostic workup and should be repeated in case the patients suffer a relapse. Such patients can be identified and be targeted for investigative treatment when conducting the clinical trials.

Commenting on the collaboration, Han Myint, M.D., Vice President of Global Medical Affairs, Myeloid for Celgene said:

“AML is a complex and heterogeneous disease, making it difficult to treat. IDH mutations lead to aberrant DNA methylation, causing a block in myeloid differentiation that leads to disease progression. Molecular profiling is important to identify genomic mutations which may have prognostic and potential treatment implications for patients with AML.”

Chris Bowden, M.D., Chief Medical Officer at Agios said:

“Our collaboration with Abbott will provide a test to help identify AML patients with IDH mutations who are in need of treatment options.”

What is IDH Mutation in AML?

AML is a cancer of the myeloid line of blood cells, which leads to accelerated growth of abnormal white blood cells (WBC). These WBC collect in the bone marrow and disturb the manufacture of normal blood cells. Isocitrate dehydrogenase (IDH) 1 and 2 are metabolic enzymes that undergo change in a gene or genes in a wide range of blood cancers and solid tumor cancers, including AML. Such IDH mutations speed up the advancement of the disease. Hence, regular molecular diagnostic tests are vital in identifying such mutations to efficiently treat AML patients. According to an estimate nearly 20% of AML patients have an IDH mutation.

Abbott’s m2000 RealTime System

Abbott’s m2000 RealTime System is an instrument that simplifies the complex and manual stages used in molecular diagnostics. The instrument’s design uses a polymerase chain reaction (PCR) which enables clinical laboratories to automate PCR and results analysis. Both Celgene and Agios have designed their clinical trials in such a manner that they incorporate this type of screening.

This system is yet to be cleared for use by the US FDA and also has not received approvals to be used with enasidenib or AG-120. Both IDH mutant inhibitors – enasidenib and AG-120 have not received approval for use in any country so far.

The tripartite collaboration will help in the formation of a test specifically designed to identify AML patients with IDH mutations and help them in their current treatment, as well as fashioning improved treatment options with regular molecular diagnosis.

Stock Performance

On Wednesday, October 11, 2016, Celgene’s shares were down 1.52%, finishing the day at $100.10 with volume of 3.2 million shares exchanging hands by the close of the trading session. The stock currently has a market cap of $77.56 billion and is trading at a P/E ratio of 42.02.

At the closing bell, Agios Pharma’s stock tumbled 5.28%, ending the trading session at $50.45. A total volume of 583.1 thousand shares were traded at the end of the day. In the last one month and previous three months, shares of the company have advanced 9.79% and 22.42%, respectively.

Abbott Laboratories’ share price finished yesterday’s trading session at $40.98, marginally sliding 0.44%. A total volume of 6.4 million shares exchanged hands. The stock has advanced 2.02% in the past twelve months. The company’s shares are trading at a PE ratio of 31.45 and has a dividend yield of 2.54%.

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