17 March 2022

BerGenBio ASA: BERGENBIO ANNOUNCES PUBLICATION IN CELL REPORTS MEDICINE JOURNAL INDICATING EFFICACY OF BEMCENTINIB IN STK11/LKB1 LUNG CANCER POPULATION

The article identifies the key role of AXL inhibition in restoring response to immune checkpoint blockade therapy in lung cancer with mutations in the STK11/LKB1 gene

Bergen, Norway – 17 March 2022- BerGenBio ASA (OSE: BGBIO), a clinical-stage biopharmaceutical company developing novel, selective AXL inhibitors for severe unmet medical needs, today announces the publication of a peer-reviewed article entitled “AXL targeting restores PD-1 blockade sensitivity of STK11/LKB1 mutant NSCLC through expansion of TCF1+ CD8+ T cells” in the journalCell Reports Medicine.

The article reports on research that identifies AXL as a critical targetable driver of immune suppression in STK11/LKB1 mutated non-small cell lung cancer (NSCLC). Mutations in STK11/LKB1 in NSCLC occur in approximately 20% of patients and are associated with poor outcomes and limited response to immune checkpoint blockade, commonly utilized treatments for lung cancer.

This article and its accompanying material are accessible here:

https://www.cell.com/cell-reports-medicine/fulltext/S2666-3791(22)00060-X (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cell.com%2Fcell-reports-medicine%2Ffulltext%2FS2666-3791(22)00060-X&data=04%7C01%7Crune.skeie%40bergenbio.com%7Cb59bc32cca894be7b28c08da0745f8c4%7C2b50b422ca6d42af9fc0741b248bb071%7C0%7C0%7C637830294373647052%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=tLI4UnfigSyr29CNzY39A0Pfeugajy9AT6I%2Bu%2BXHUVI%3D&reserved=0)

The research was led by Professor Rolf A. Brekken, in the Hamon Center for Therapeutic Oncology Research at the UT Southwestern Medical Center. The group introduced a STK11/LKB1 mutation into a preclinical murine model of lung adenocarcinoma, resulting in immune checkpoint blockade refractory tumors. The group posits that the lack of response occurred because the STK11/LKB1 mutated tumors lacked a specific population of immune cells (TCF1-expressing CD8+ immune T cells). This immune cell population was also reduced in human NSCLC tumors carrying STK11/LKB1 mutations.

Systemic inhibition of AXL by the BerGenBio molecule bemcentinib led to increased type I interferon secretion from AXL-expressing dendritic cells, resulting in expansion of the TCF1+ T cell population and restored therapeutic response to immune checkpoint blockade treatment. These results were observed in both an immunocompetent mouse model and in mice bearing human STK11/LKB1 mutant NSCLC tumors along with a humanized immune system. The paper also summarizes clinical data in NSCLC patients with identified STK11/LKB1 mutations receiving bemcentinib and immune checkpoint blockage (pembrolizumab), who demonstrated objective clinical response to combination therapy.

In November 2021 BerGenBio announced that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for bemcentinib in combination with an anti-PD-(L)1 agent as a treatment for patients with STK11/LKB1 altered advanced/metastatic NSCLC patients without actionable mutations.

Martin Olin, Chief Executive Officer of BerGenBio, commented: “We are pleased to receive this strong preclinical validation of the potential role of bemcentinib to treat STK11/LKB1 mutated NSCLC patients. Data suggests that this significant patient population is underserved by current immune checkpoint blockade therapies, and we hope that the combination with bemcentinib can restore the immune response in these patients. The identification of a new druggable biomarker segment such as the STK11/LKB1 mutations may offer significant hope for improved patient outcomes in combination with the current standard of care therapies. We look forward to initiating a clinical trial this year to advance bemcentinib into development for this patient population.”

Contacts:

For BerGenBio: Martin Olin CEO, BerGenBio ASA

ir@bergenbio.com

Rune Skeie, CFO, BerGenBio ASA
rune.skeie@bergenbio.com

International Media Relations

Mary-Jane Elliott, Chris Welsh, Lucy Featherstone, Consilium Strategic Communications
bergenbio@consilium-comms.com
+44 20 3709 5700

About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers. The company’s proprietary lead candidate, bemcentinib, is a potentially first-in-class selective AXL inhibitor in a broad phase II clinical development programme focused on combination and single agent therapy in cancer and COVID-19. A first-in-class functional blocking anti-AXL antibody, tilvestamab, is undergoing phase I clinical testing. In parallel, BerGenBio is developing companion diagnostic tests to potentially identify patient populations most likely to benefit from AXL inhibition: this is expected to facilitate more efficient registration trials supporting a precision medicine-based commercialisation strategy.

BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange (ticker: BGBIO). For more information, visit www.bergenbio.com

Forward looking statements

This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties, and other important factors. Suchrisks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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About Oncoinvent

Oncoinvent is developing Radspherin®, a receptor-independent alpha radiation therapy that leverages the unique anatomy of the abdominal cavity to destroy residual micrometastases using a single, highly localized dose of alpha radiation. The initial clinical focus is treatment of ovarian and colorectal cancer patients after surgical removal of the primary tumor and visible metastases in the peritoneum, the thin membrane lining the abdominal cavity and covering the abdominal organs.

This radiopharmaceutical is designed to prevent or delay recurrence in the peritoneal cavity, keeping patients disease-free for longer than the current standard of care and thereby also impacting overall survival. It is broadly applicable to any cancer that spreads to the peritoneum, e.g. ovarian, colorectal, and gastric cancers. Radspherin® stands out for its simplicity, excellent safety profile, and seamless integration into existing surgical workflows. Oncoinvent’s product is easy to use, avoids systemic delivery and significant toxicity. It is also differentiated in being simple to manufacture, scalable, and supply de-risked.

Data from two trials in ovarian (phase 1) and colorectal (phase 1/2a) cancers, are highly promising, showing an excellent safety profile and meaningful signals of efficacy. Interim data from an ongoing, randomized, controlled phase 2 ovarian cancer trial is expected in 2026. With cost-effective manufacturing, blockbuster potential, active pharma partnership momentum, plus strong endorsements from leading experts, Oncoinvent is built for scale and commercial success, and is set to become the new standard for post-surgical cancer care. The Company was founded by the originators of Algeta and Xofigo (acquired by Bayer).

Øystein Soug

Chief Executive Officer

soug@oncoinvent.com

Oystein Soug has over 15 years of experience in biotechnology, holding several management positions. Most recently, Mr. Soug was CEO of Arxx Therapeutics, where he led the company to initiate the clinical programme and was responsible for the merger with Dutch pharma company Oxitope Pharma to create Calluna Pharma. Prior to Arxx, he served as CFO and then CEO of Targovax, an Oslo listed biotechnology company, which went public during Mr. Soug’s tenure. Mr. Soug started his career in biotech as CFO of Oslo-listed radiopharmaceutical company Algeta. During this period, the company conducted a successful phase 3 trial, launched its radium-223 based prostate cancer drug Xofigo® and out-licensed the drug. Mr. Soug co-led the sale of the company to Bayer in 2014.

Mr. Soug holds an MSc in Economics and
Financial Markets from Universität St. Gallen in Switzerland in 1997

Anders Månsson

Chief Executive Officer

mansson@oncoinvent.com

Anders Månsson is a business executive with over 25 years of experience from management roles in the pharmaceutical industry, focusing on commercialisation and M&A + licensing. Mr. Månsson has held leading roles in the industry both in his native Sweden and in other European countries, and he has worked extensively with the USA and Asia as focus markets in global roles.

Mr. Månsson holds a B.Sc. degree in Business & Economics from Lund’s University in Sweden as well as an MBA from Business School Lausanne in Switzerland. He has a broad-based industrial experience, featuring both large multinational companies such as Meda, Ferring & LEO Pharma, and including leading roles in start-ups and smaller biotech companies. On top of his executive role in Oncoinvent, Mr. Månsson holds two non-executive director positions serving on the board of EQL Pharma AB as well Immetric AB, the latter being an investment company focusing on life science.