Mendus

Overview
Price performance
Financials
Research
Thematics

Mendus is a clinical-stage immunoncology (IO) company based in Sweden and the Netherlands. The company specialises in allogeneic dendritic cell biology and currently has two lead, cell-based, off-the-shelf therapies for haematological and solid tumours.

IO is a frenetic pharmaceutical development area with many clinical combination studies being conducted by pharmaceutical and biotech companies. Investors should expect relatively rich news flow from this subsector over the next few years.

Latest Insights

Healthcare |
Update

27.08.24

Mendus — Broad progress across the pipeline

Healthcare |
edison tv

23.08.24

Mendus – executive interview

Healthcare |
Flash note

24.07.24

Mendus — Collaboration unveils path forward for ilixadencel

Healthcare |
Flash note

21.06.24

Mendus — Recent clinical data highlight vididencel’s potential

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Sector

Healthcare

Equity Analyst

Arron Aatkar

Analyst

Jyoti Prakash

Analyst, Healthcare

Key Management

Alex Karlsson-Parra

CSO
Erik Manting

CEO
Jeroen Rovers

CMO
Leopold Bertea

CTO
Lotta Ferm

CFO

Balance Sheet

Forecast net cash (SEKm)

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	12.9	15.6	(20.7)
Relative	18.7	19.6	(31.4)
52 week high/low	SEK14.5/SEK7.5

Financials

Mendus is developing lead candidate vididencel, a cell-based vaccine, as a maintenance therapy for the prevention or delay of tumour recurrence (currently being assessed in two indications). Encouraging survival data were reported for the ADVANCE II trial (AML) in December 2023, showing a potentially competitive profile over standard of care and the only approved AML maintenance drug, Onureg. Management is planning to maximise the potential of vididencel with the CADENCE study in combination with Onureg (enrolment commenced in September 2024). Vididencel is also being assessed in the Phase I ALISON trial (ovarian cancer). In June 2024, Mendus announced that the primary goal for ALISON had been met; long-term survival data will be presented in Q424. The company’s second clinical asset, ilixadencel, is being developed as an intratumoral immune primer and is in preparations to start a Phase II trial for the treatment of soft tissue sarcomas. Net cash at end-Q224 was SEK130.2m, which should fund Mendus into Q325.