CHAIRMAN’S LETTER
Dear Fellow Shareholder:
I’m delighted to present Immutep’s annual report for the financial year 2022. Immutep continued to forge its leadership role in the emerging LAG-3 landscape throughout a year that saw increasing attention from industry on this exciting new immune checkpoint. As a global biotech developing immunotherapeutic products for cancer and autoimmune disease, we have more product candidates and programs focused on LAG-3 than any other drug development company and we have retained our status of being the only LAG-3 pure play.
In March 2022 the first LAG-3 product, a Bristol-Myers Squibb (BMS) combination of LAG-3 inhibitor, relatlimab and PD-1 inhibitor, nivolumab (Opdualag®) received approval from the United States Food and Drug Administration for the treatment of melanoma in patients. The approval marked the validation of LAG-3 as the next most promising immune checkpoint, following the success of PD-1 and PD-L1 inhibitors, such as pembrolizumab and avelumab, and the CTLA-4 inhibitor, ipilimumab. The emergence of LAG-3 is all the more significant in light of the recent failure of anti-TIGIT clinical trials in H1 2022.
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