Cancer Drug Revenues Expected to be Largest Share in Pharma Market
Palm Beach, FL –December 9, 2019 – One of the latest market reports in the published by Credence Research, Inc. shows that the Multiple Myeloma Treatment market, which was valued at USD $8,398.3 Mn in 2016, is expected to reach USD $21,221.8 Mn by 2025, expanding at a CAGR of 11.0% from 2017 to 2025. Multiple myeloma is a type of blood cancer that forms in plasma cells. Plasma cells are an important part of a person’s immune system, as they make antibodies that help fight infections. An analysis of Multiple Myeloma Drugs Market shows that multiple myeloma is the second most common haematological cancer. In the year 2016, there were about 130,000 cases of multiple myeloma globally. In the same year, approximately 98,000 deaths were caused by multiple myeloma. The incidence of multiple myeloma is increasing across the globe. One of the major factors to drive the growth of the multiple myeloma drugs market is the approval of new drugs for the treatment of this type of cancer. Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Epizyme, Inc. (NASDAQ: EPZM), Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX), AbbVie Inc. (NYSE: ABBV), Bristol-Myers Squibb Company (NYSE: BMY).
Multiple myeloma treatment options have developed significantly over the last decade. Novel multiple myeloma treatments have provided efficient survival rates among myeloma patients. It has been also observed that the upcoming drug pipeline of multiple myeloma is promising, biological drugs and stem cell based therapies are expected to drive the market in the near future. The key players operating in this industry are accelerating the research and development activities for future multiple myeloma treatment, but by customizing treatments based on a patient’s genome. According to Multiple Myeloma Research Foundation, multiple myeloma typically occurs in bone marrow specifically located in the spine, pelvic bones, ribs, and area of the shoulders and hips. Moreover, groups of myeloma cells force other cells in the bone marrow to remove the solid part of the bone and cause osteolytic lesions or soft spots in the bone, resulting in weakened bones and increasing the risk of fractures.
Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) BREAKING NEWS: Oncolytics Biotech® Announces Positive Multiple Myeloma Data – Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), currently developing pelareorep, an intravenously delivered immuno-oncolytic virus, today announced that a poster presentation was given over the weekend highlighting pre-clinical and clinical results of combining pelareorep with the proteasome inhibitor carfilzomib in the treatment of multiple myeloma. The presentation was given on Saturday, December 7 as part of the 2019 American Society of Hematology Annual Meeting & Exhibition.
The abstract, titled, “Proteasome Inhibitors Impair the Innate Antiviral Immune Response and Potentiate Pelareorep-Based Viral Therapy in Multiple Myeloma” describes synergies between proteasome inhibitors and pelareorep concerning immune cell changes and response in multiple myeloma patients.
“These findings demonstrate that pelareorep, in combination with carfilzomib, infects multiple myeloma cells, thereby providing a strong scientific rationale regarding immune cell changes,” said Dr. Rita Laeufle, Chief Medical Officer at Oncolytics Biotech. “The combination of carfilzomib and pelareorep promotes expansion of killer T cells in patients on an ongoing phase 1b study and how it may lead to tumor response when pelareorep is combined with proteasome inhibitors. We are confident that pelareorep could add significant clinical value to the treatment of multiple myeloma patients with the combination of these agents. Our first data in patients from an ongoing study has been very encouraging and further data will be presented at subsequent clinical conferences.” Read this full press release and more news for ONCY at: https://www.financialnewsmedia.com/news-oncy/
Other recent developments in the biotech industry include:
Epizyme, Inc. (NASDAQ: EPZM) recently reported positive, mature data at the 2019 American Society of Hematology (ASH) Annual Meeting from its ongoing Phase 2 trial of tazemetostat, an oral EZH2 inhibitor, as a monotherapy for patients with follicular lymphoma (FL), both with or without EZH2 activating mutations, who have received at least two prior lines of systemic therapy.
The data show that treatment with tazemetostat demonstrated meaningful clinical activity as assessed by both investigators and an Independent Review Committee (IRC), and was generally well tolerated in both FL patients with EZH2 activating mutations (n=45) and FL patients with wild-type EZH2 (n=54). The IRC assessment was conducted for inclusion in Epizyme’s planned NDA submission to the U.S. Food and Drug Administration (FDA) in December 2019.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) recently announced positive topline data from the Phase 1 multiple ascending dose study of LX9211, a potent oral small molecule inhibitor of adaptor associated kinase 1 (AAK1), in development for the treatment of neuropathic pain.
“We are pleased that the initial clinical data for LX9211 in the multiple ascending dose study supports continued advancement of the drug,” said Praveen Tyle, Ph.D., executive vice president of research and development at Lexicon. “LX9211 was well tolerated with dose proportional pharmacokinetics, similar to what was seen in the single ascending dose study. We expect to initiate a proof-of-concept study for LX9211 early next year.”
AbbVie Inc. (NYSE: ABBV) recently announced results of a 7.5-year pooled analysis showing earlier treatment with IMBRUVICA® (ibrutinib) monotherapy compared to later lines of therapy (LOT) extended progression-free survival (PFS) and increased the likelihood of a complete response (CR) in patients with relapsed/refractory (R/R) mantle cell lymphoma (MCL) – demonstrating that some patients achieved a disappearance of any signs of disease.
The updated pooled analysis includes three clinical trials: Phase 2 SPARK, Phase 3 RAY and Phase 2 PCYC-1104. Patients achieving a CR with IMBRUVICA had a strong response, with a median duration of therapy longer than 5.5 years. These results were presented today at the American Society of Hematology (ASH) Annual Meeting.
Bristol-Myers Squibb Company (NYSE: BMY) recently announced positive top-line results from KarMMa, a pivotal, open-label, single arm, multicenter, Phase 2 study of idecabtagene vicleucel (ide-cel; bb2121). KarMMa, which evaluated the efficacy and safety of the companies’ lead investigational BCMA-targeted chimeric antigen receptor (CAR) T cell therapy candidate for patients with relapsed and refractory multiple myeloma, met its primary endpoint and key secondary endpoint.
“For multiple myeloma patients who have relapsed and become refractory to current treatment options, there remains a high unmet need, as these patients typically experience low response rates, short response durations and poor survival,” said Kristen Hege, M.D., Senior Vice President, Hematology/Oncology and Cell Therapy, Early Clinical Development for Bristol-Myers Squibb. “The KarMMa study provides further support for ide-cel as a potential therapeutic option in this heavily pre-treated patient population, and we are encouraged by these data, especially the outcomes observed at the highest target dose of 450 x 106 CAR+ T cells. We are actively preparing for submission of these data to Health Authorities for proposed initial registration of ide-cel as a first-in-class BCMA-targeted CAR T cell therapy.”
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