IO Biotech (IOBT) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Scientific approach and clinical results

• Utilizes a dual-targeting cancer vaccine approach, addressing both cancer cells and the immunosuppressive compartment for improved efficacy.

• Targets IDO and PD-L1 proteins, showing enhanced responses when combined and further improved with anti-PD-1 therapy.

• Phase I/II melanoma trial showed an 80% response rate and median PFS of 25.5 months, doubling standard of care outcomes.

• Phase III trial design mirrors earlier studies but extends treatment duration and switches to pembrolizumab; fully enrolled and event-driven.

• Interim analysis set a high statistical bar (p=0.005); trial continues to primary PFS endpoint, with final data expected in H1 2025.

Commercial and regulatory strategy

• Preparations underway for simultaneous BLA submissions in the US and Europe upon positive phase III data.

• Manufacturing and commercial teams are preparing for launch, including validation batches and market research.

• Melanoma market is large with significant unmet need; favorable efficacy and safety profile expected to drive adoption.

• Partnering discussions ongoing, with phase III data as a key trigger for potential collaborations.

Expansion into additional indications

• Head and neck cohort in O22 study fully enrolled; efficacy and biomarker data to be presented at ESMO, aiming for response rates above 40%.

• Non-small cell lung cancer cohort data to be updated at a major medical meeting, with benchmarks set by KEYNOTE-024 (39% ORR).

• Favorable safety profile and clinical signals in multiple indications support platform validation.