Redeye briefly comments on Mendus announcing a collaboration with Institut Bergonié that involves treating up to 43 patients with ilixadencel combined with regorafenib and avelumab. Treated patients will be part of Institut Bergonié’s REGOMUNE trial, a multicentre, prospective open-label phase I/II trial exploring regorafenib and avelumab combination therapy in solid tumours. Mendus announcing the trial aligned with our expectations, though first patient data in H1 2026e is later than we pencilled in. Thus, we delay our projected development timeline for ilixadencel by one year, resulting in a potential approval moving from 2029e to 2030e. Our valuation remains unaffected after these minor adjustments.

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