(CGEN) Compugen Ltd. Business Model Canvas Research

Compugen Ltd. keeps a separate research collaboration with Johns Hopkins University focused on myeloid science, which supports early immuno-oncology target work. This fits Compugen's discovery-led model, where external academic research helps widen the target pool before costly clinical spend.

As of its latest 2025 reporting, Compugen still relied on partnering to advance early-stage biology without heavy internal capex.

• Johns Hopkins: myeloid science focus
• Supports early immuno-oncology targets
• Uses academia to de-risk discovery

Compugen’s licensing agreement with AstraZeneca covers bi-specific and multi-specific immuno-oncology antibody products, giving the Company a path to advance higher-value assets through a top-tier pharma partner. The deal widens partnering and commercialization reach, so Compugen can push more programs without carrying the full late-stage cost.

• Bi-specific and multi-specific IO antibodies
• Extends partnering reach
• Improves commercialization options

Compugen Ltd. actively manages strategic alliances, licensing programs and co-developing combination studies with pharma partners to support external validation and non-dilutive funding. This model matters because its 2025 filings still show a cash-dependent biotech structure, so partner capital and shared trial spend help extend runway while advancing programs.

• Licenses programs to pharma partners
• Co-develops combination studies
• Drives external validation
• Lowers cash burn through shared funding

Compugen Ltd. uses translational immunology research to move immuno-oncology programs from preclinical work into the clinic, with a clear focus on myeloid targets. This helps turn new immune mechanisms into human data faster.

Its approach links target discovery, biomarker work, and early development, which is central to advancing a small pipeline with limited capital.

• Focuses on myeloid targets.
• Bridges preclinical and clinical work.
• Supports immuno-oncology mechanism proof.

Compugen Ltd. depends on in-house scientific and clinical teams spread across Israel, the United States, and Europe, which lets it run R and D across 3 regions at once. That setup is central to its drug discovery and clinical development work, where multi-site execution speeds data flow and trial support.

• 3 regions: Israel, U.S., Europe
• Internal research teams
• Internal clinical development teams

Compugen Ltd.’s key resources include 4 major collaboration and licensing ties with Bayer, Bristol Myers Squibb, Johns Hopkins, and AstraZeneca. These partner rights bring outside science, shared know-how, and lower R&D risk by spreading discovery and development costs across multiple programs.

• 4 named collaboration partners
• Access to external expertise
• Licensing rights reduce development risk

AZD2936 is Compugen Ltd.’s bi-specific value proposition: it targets TIGIT and PD-1 in one molecule, aiming to sharpen immune response versus single-target drugs. That matters in advanced or metastatic NSCLC, which makes up about 85% of lung cancers and still has poor survival once it spreads.

• Dual checkpoint targeting: TIGIT plus PD-1
• Built for harder-to-treat NSCLC
• Clearer differentiation than mono-target assets

Compugen’s partner-ready discovery platform finds and licenses antibody-based therapeutics, so it can earn value from pharma partnerships, not just from its own drug sales. That matters because a single discovery hit can be monetized through upfront, milestone, and royalty streams, which scales better than one-product revenue.

• Partner-led licensing broadens revenue sources
• Antibody discovery is the core asset
• Large pharma is the main buyer

Compugen Ltd. must stay close to study sites in Phase I and Phase I/II oncology trials, where small cohorts, frequent safety checks, and fast protocol changes make active site management critical. This support protects data quality and timelines; U.S. oncology trials still make up one of the largest clinical segments, with thousands of active studies tracked in 2025.

• Fast site coordination
• Cleaner trial data
• On-time milestone delivery

Compugen Ltd uses structured licensing and business development talks to turn clinical assets into partnership value. In clinical-stage biotech, these deals can fund development without a product sale, and that option value matters when cash burn is still tied to R&D.

• Partner talks support non-dilutive financing.
• Licensing drives future option value.
• Deals are central before commercialization.

Compugen Ltd. uses corporate disclosures and investor relations to keep the market informed on pipeline progress, cash use, and clinical milestones; for a clinical-stage public company, that transparency is key to financing access and market awareness. These channels also help the company frame trial readouts and guidance for investors.

• Supports capital raising
• Builds market visibility
• Shares clinical milestones

Compugen’s partner commercialization infrastructure uses licensed partner networks for later-stage development and market launch, so reach expands beyond Compugen alone. The Bayer and AstraZeneca partnerships show this model in action, with 2 major pharma channels carrying assets toward broader commercialization.

• Uses partner sales reach
• Fits later-stage assets
• Bayer and AstraZeneca validate scale

This lowers Compugen’s direct go-to-market load while keeping access to larger global commercial teams.

Academic research institutions, especially universities and medical schools, act as Compugen Ltd. research partners and early knowledge users, helping test T cell and myeloid checkpoint biology in translational settings. Johns Hopkins is a clear example; these links matter because 2 key discovery tracks can move from bench to clinic faster when tied to real academic labs.

• Research partners for early biology
• Validate T cell and myeloid checkpoints
• Johns Hopkins is a reference case

Future treatment providers and payers are the downstream customer segments for Compugen Ltd. if a candidate wins approval. As of FY2025, Compugen still had no marketed oncology product, so oncologists, hospitals, and payers would decide adoption and reimbursement, which directly shapes commercial revenue.

• Oncologists drive treatment choice
• Hospitals influence formulary access
• Payers set reimbursement terms
• Approval is the commercial gate

Compugen Ltd.’s antibody programs need heavy process development and CMC work before clinical supply can start, so manufacturing readiness is a major cost driver. In biotech, CMC often runs into millions of dollars per program, and it can decide whether a candidate reaches first patient dosing.

• Process development is mandatory
• CMC supports clinical supply
• Manufacturing readiness is costly

Compugen Ltd.'s general and administrative overhead is driven by public-company costs: staff, legal, finance, compliance, and IP protection. As a cross-border biotech, it also faces extra work across Israel and the U.S., which lifts reporting, tax, and regulatory overhead.

• Public listing raises G and A load
• Key costs: payroll, legal, finance
• Cross-border ops add compliance work

Compugen Ltd. can earn royalties if licensed programs reach market, which is a standard biotech monetization path and gives long-dated upside after commercialization. As of the latest reported fiscal 2025 period, the company had not disclosed material royalty income, so this stream remains option-like until a partnered asset launches.

• Royalties start after market launch.
• Biotech model: low current cash, upside later.
• Compugen has no material royalties yet.

Compugen Ltd. has no approved products yet, so future product sales are still prospective and depend on successful clinical results and regulatory approval. If one or more therapies reach market, this stream could shift from zero to direct drug sales, but timing and size remain tied to pipeline execution.

• Current sales are prospective only
• Depends on clinical success
• Requires regulatory approval
• Direct therapy sales are the target model