COMPUGEN LTD (CGEN)

Compugen Ltd. is a clinical-stage therapeutic discovery and development company focused on cancer immunotherapy. It uses Unigen™, its AI/ML-powered computational discovery platform, to identify novel drug targets and develop therapeutics against them. The company was incorporated in Israel in 1993. Its business model is to selectively enter into revenue-sharing collaborations for its targets and drug candidates at various stages of research and development. Potential revenue includes upfront fees, research funding, milestones, license fees and royalties.

Its immuno-oncology pipeline has four clinical-stage programs. COM701 is a potential first-in-class anti-PVRIG antibody and is the internal lead program. The only trial the company currently sponsors for it is the blinded randomized MAIA-ovarian platform trial in relapsed platinum-sensitive ovarian cancer, with an interim analysis expected in the first quarter of 2027. COM902 is a potential best-in-class anti-TIGIT antibody. Because of negative data in the TIGIT field, the company does not plan to start new COM902 trials. Rilvegostomig is a PD-1/TIGIT bispecific antibody with a TIGIT component derived from COM902. AstraZeneca develops it under a 2018 exclusive license and is evaluating it in multiple Phase 3, Phase 2 and Phase 1 trials. GS-0321 (previously COM503) is a potential first-in-class antibody that blocks IL-18 binding protein. It is licensed to Gilead, and Compugen is running the Phase 1 trial as monotherapy and in combination with zimberelimab in advanced solid tumors. The company also has early-stage research programs on mechanisms to enhance anti-cancer immunity, and it applies a biomarker-driven strategy to indication and patient selection.

The company's customers are pharmaceutical and biotechnology partners, and its revenue comes from licensing and collaboration arrangements. Under the December 2023 Gilead license, Compugen received a $60 million upfront payment and a $30 million IND-clearance milestone. It is eligible for up to about $758 million in further milestones and single-digit to low double-digit tiered royalties on worldwide net sales. The market it targets is cancer immunotherapy. The text cites Precedence Research estimating the global immune checkpoint inhibitors market at $58.53 billion in 2025, growing to about $229.60 billion by 2034.

Compugen's principal offices are in Holon, Israel. Its wholly owned U.S. subsidiary, Compugen USA, Inc., is located in San Francisco and serves as its agent for service of process. Its computational platform runs on cloud-based solutions and purpose-built algorithms applied to public and proprietary genomic, single-cell RNA sequencing, proteomic and spatial transcriptomic datasets. It has used this approach to discover targets including PVRIG, TIGIT, IL-18BP and ILDR2. Capital expenditures were $0.3 million in 2025, $0.1 million in 2024 and $0.2 million in 2023. The text does not describe manufacturing or suppliers in detail.