Medivir (MVIR) Study Update summary
Event summary combining transcript, slides, and related documents.
Study Update summary
16 Oct, 2026Treatment rationale
Fostrox is an oral prodrug of troxacitabine, designed for >100-fold liver-targeted exposure vs traditional IV chemotherapy; its cytotoxic L-nucleoside approach aims to spare normal cells and avoid resistance.
Rapid liver conversion generates the active metabolite; DNA damage may increase tumor antigen presentation, while TKI-induced hypoxia may increase active metabolite levels.
Traditional IV chemotherapy has not been used in HCC because doses needed for liver exposure can be poorly tolerated amid cirrhosis, liver toxicity sensitivity and local drug inactivation.
Fostrox adds a DNA-damage mechanism to systemic approaches based on multikinase inhibitors and checkpoint combinations, with potential for combination treatment.
Clinical development and phase Ib findings
Fostrox plus lenvatinib RP2D was 30 mg; the phase Ib/IIa combination study was fully recruited and ongoing at 15 sites in the UK, Spain and Korea.
All six phase Ib patients had progressed on prior treatment; 83% had received atezolizumab plus bevacizumab in 1L and 50% had prior TACE.
Independent RECIST 1.1 review found stable disease in 5 of 6 patients; mRECIST review found 3 responders, including 1 complete response.
Grade ≥3 adverse events occurred in 50%; transient neutropenia was most common, with no febrile neutropenia. Lenvatinib and fostrox dose reductions occurred in 50% and 17%, respectively.
HCC treatment context
HCC has substantial unmet need: 80% of patients are diagnosed at an advanced stage, with 5-year survival below 20%; cirrhosis also limits treatment tolerance.
Advanced HCC treatment has evolved toward immunotherapy and TKIs, while chemotherapy combinations remain largely unexplored; systemic treatment is also being considered at earlier disease stages.
The treatment paradigm shifted from sorafenib and lenvatinib monotherapy in 2007–2018 toward combination regimens from 2020.
Latest events from Medivir
- SEK 247.9m cash supports three Phase II programs, with FLEX-HCC readout expected in 2027.MVIR
Q3 2026 - MIV-818 showed liver delivery and extended stable disease in four HCC patients.MVIR
Study Result - SEK 148m rights issue backs fostrox’s next HCC development steps.MVIR
Investor Update - Three phase 2 studies fully funded, targeting high-value markets in liver cancer and rare bone diseases.MVIR
Company presentation - SEK 140 million raised, three phase II studies funded, and positive fostrox clinical results.MVIR
Q2 2026 - Fostrox + Lenvima delivers best-in-class efficacy for 2nd line HCC, targeting a $2.5bn+ market.MVIR
DNB Nordic Healthcare Conference presentation - Fostrox plus lenvatinib delivers superior efficacy and safety in second-line advanced liver cancer.MVIR
Pareto Securities Healthcare Conference presentation - Fostrox + Lenvima shows promising efficacy in 2nd line HCC, targeting a major unmet need.MVIR
Carnegie Småbolagsdag 2024 - Fostrox plus lenvatinib achieved 24% ORR in advanced HCC; randomized phase 2b is planned.MVIR
Status Update