OSE Immunotherapeutics is a clinical-stage biotechnology company based in Nantes and Paris, France, and listed on Euronext Paris. The company is developing innovative immunotherapies across immuno-oncology and immuno-inflammation, with a renewed strategy focused on advancing its two lead proprietary clinical assets, Tedopi and lusvertikimab. This sharpened approach is designed to concentrate resources on programmes with the clearest potential to create value over the next several years.

There are four key reasons why OSE may be considered a compelling investment opportunity:

1. Tedopi is a late-stage cancer vaccine addressing a major unmet need in lung cancer. OSE’s lead asset, Tedopi, is an off-the-shelf cancer vaccine designed to activate tumour specific T-cells in HLA-A2 positive patients. It may be the most advanced therapeutic cancer vaccine in the clinic. It represents a differentiated approach in non-small cell lung cancer, where immune checkpoint inhibitors have improved treatment outcomes, but many patients eventually progress and are left with limited second-line options. In the prior ATALANTE-1 Phase III trial, Tedopi showed encouraging survival, safety and quality of life outcomes. The candidate is now being tested in the registrational Phase III ARTEMIA trial as a second-line monotherapy, compared to standard of care docetaxel, with overall survival as the primary endpoint. Following two positive independent data monitoring committee recommendations, ARTEMIA remains on track for a futility analysis in Q3 2026 and a topline readout in Q1 2028, representing a major potential inflection point.

2. Tedopi offers broader potential beyond the lead programme. While ARTEMIA remains the key value driver, Tedopi also has the potential to become a broader immuno-oncology platform in its own right. Investigator sponsored studies are exploring the candidate in additional settings, including pancreatic cancer, ovarian cancer and further lung cancer combinations. Positive topline results from the Phase II studies in recurrent ovarian cancer and pancreatic cancer provide further clinical validation. These studies broaden the scientific narrative for Tedopi while offering a cost-efficient way to test its utility across multiple tumour types. If further data are supportive, Tedopi’s opportunity could extend beyond its initial focus in second-line non-small cell lung cancer.

3. Lusvertikimab provides a differentiated opportunity in immuno-inflammation. Lusvertikimab is OSE’s lead immuno-inflammation asset, targeting the interleukin 7 receptor pathway, a mechanism involved in immune cell activation. The candidate has already generated encouraging Phase II data in ulcerative colitis. OSE is now developing a subcutaneous formulation to strengthen the asset’s partnering prospects in this indication. In parallel, the existing intravenous formulation is being repositioned into one speciality and one rare disease, both of which are inflammatory conditions with significant unmet need and with more focused development pathways. This pragmatic strategy could enable OSE to extract maximum value from lusvertikimab across both sizeable and more specialised markets.

4. A sharper strategy improves focus while preserving upside. OSE’s recently renewed strategic plan marks an important evolution in the investment case. Rather than spreading resources across a broad pipeline, the company is now prioritising Tedopi and lusvertikimab, the two assets with the strongest near- and medium-term potential. This focus is supported by a refreshed leadership team and a track record of collaboration with major pharmaceutical partners and academic groups. Partnered programmes and earlier research activities still offer optionality, but the core story is now more distinctly a late-stage cancer vaccine approaching key readouts and a differentiated immuno-inflammation asset being advanced through a more disciplined development plan. For investors, this creates a highly focused proposition, with multiple catalysts expected across 2026 to 2028.

In summary, OSE presents a compelling investment case centred on two differentiated clinical assets, a more focused development strategy and several upcoming catalysts. For more information on OSE Immunotherapeutics, please visit the Edison website.

Published 13 July 2026