ASCO 2010: And the Winner is...Bristol Myers Squibb

There are basically two approaches:

1) cancer vaccines that aim at eliciting an immune response against specific targets on cancer cells and

2) immunomodulatory drugs that aim at stimulating the immune system in a more general manner (not target specific). The undisputed leader in cancer vaccines is Dendreon (DNDN), which currently has the only FDA approved cancer vaccine. Following ASCO, it looks like the leader in immunomodulation drugs is Bristol Myers Squibb (BMY) (also referred to as "BMS" in this article).

BMS presented data for two immunomodulatory agents at ASCO: Ipilimumab and MDX-1106. Both are monoclonal antibodies originally developed by Medarex, which was bought by BMS last year. The two agents are targeted against proteins that function as brakes on the immune system. By targeting these proteins, it is possible to abrogate their effect and unleash a potent immune response against tumors. Ipilimumab is much more advanced and could be in the market next year whereas MDX-1106 is an early stage candidate with impressive data. It is important to note that as with every disruptive approach, there is still some risk associated with these programs, especially with respect to side effects. Nevertheless, based on the available data, the two drugs put BMS in the sweet spot of cancer immunotherapy.

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