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New Chemotherapy-Free Immunotherapy Combination for Follicular Lymphoma Listed on the PBS

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Specialised Therapeutics announced that Minjuvi (tafasitamab), in combination with rituximab and lenalidomide, is now listed on Australia’s Pharmaceutical Benefits Scheme (PBS) from 1 August 2026 for adults with relapsed or refractory follicular lymphoma (R/R FL, Grade 1–3a).

This is the first chemotherapy‑free, dual‑targeted CD19/CD20 immunotherapy regimen reimbursed on the PBS for these patients. The listing follows April 2026 TGA registration via Project Orbis and is enabled through Specialised Therapeutics’ exclusive 2021 distribution agreement with Incyte (NASDAQ: INCY) for Australia, New Zealand and Singapore.

In the Phase 3 inMIND trial, the Minjuvi combination reduced the risk of disease progression, relapse or death by 57% versus placebo plus rituximab and lenalidomide, with median progression‑free survival of 22.4 months vs 13.9 months (HR 0.43; P<0.0001). Safety was described as generally manageable but included high rates of infections and myelosuppression, requiring blood count monitoring and infection vigilance.

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Positive

  • PBS reimbursement in Australia for Minjuvi combo in R/R FL effective 1 August 2026
  • First chemotherapy-free CD19/CD20 dual-targeted immunotherapy regimen funded on PBS for adult R/R FL
  • inMIND Phase 3: 57% risk reduction in progression, relapse or death vs control
  • Median PFS 22.4 vs 13.9 months with Minjuvi combo (HR 0.43; P<0.0001)
  • 654 patients enrolled globally in inMIND, including 548 with R/R FL and 54 Australians
  • Minjuvi/Monjuvi already has multiple approvals for FL and DLBCL in the US, Europe, Japan and Australia

Negative

  • High infection rate: infections in 68% of patients; viral 41%, bacterial 27% in inMIND
  • Myelosuppression: neutropenia 57%, thrombocytopenia 17%, anaemia 17% reported with Minjuvi combinations
  • Serious adverse reactions: infections in 26% of patients; febrile neutropenia 2.8%, pyrexia 1.8%
  • Treatment requires frequent blood count monitoring due to risk of serious or severe myelosuppression

News Explained

The Minjuvi combination is now PBS-listed effective 1 August 2026, but the listing is marked “AUTHORITY REQUIRED”; the release directs readers to the PBS Schedule for the full authority information.

Market Context

A prior -2.12% reaction to positive clinical data shows that favorable development news has not alwa...
Analysis

A prior -2.12% reaction to positive clinical data shows that favorable development news has not always aligned with market response. The PBS listing adds reimbursement validation; investors can watch uptake and safety disclosures, alongside recent insider net selling.

Key Figures

Risk reduction: 57% PBS listing effective date: 1 August 2026 Study enrollment: 654 adults +5 more
8 metrics
Risk reduction 57% inMIND Phase 3 trial; disease progression, relapse or death
PBS listing effective date 1 August 2026 Australian access for eligible patients with follicular lymphoma
Study enrollment 654 adults inMIND Phase 3 study
R/R FL participants 548 participants inMIND Phase 3 study
Median PFS 22.4 months vs 13.9 months Minjuvi combination versus control arm
Hazard ratio HR: 0.43 investigator-assessed progression-free survival
P-value P<0.0001 investigator-assessed progression-free survival
Infections 68% most common adverse reactions in the inMIND study

Historical Context

5 past events · Latest: Jul 28 (Positive)
Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Jul 28 Q2 earnings report Positive +9.3% Revenue growth, raised guidance, and strong cash position supported the earnings update.
Jul 20 Collaboration agreement Positive -1.4% Halozyme collaboration added development and commercialization opportunities for INCA033989 formulations.
Jul 17 Conference presentation Neutral +0.5% Incyte scheduled multiple oncology data presentations at the ESMO Congress 2026.
Jul 13 Clinical trial data Positive -2.1% Phase 1/2 latarcibart data showed substantial bleeding reductions across von Willebrand disease types.
Jul 08 Earnings date notice Neutral -0.7% Incyte announced the July 28 release date for second-quarter financial results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Incyte's historical reactions were mixed: positive earnings news preceded a 9.3% gain, while positive clinical data preceded a 2.12% decline.

Key Terms

progression-free survival, hazard ratio, PET-CR, myelosuppression, +2 more
6 terms
progression-free survival medical
"significant improvement in progression-free survival"
Progression-free survival is the length of time during and after a treatment that a patient's disease does not get worse, measured from the start of treatment until the disease shows measurable signs of progression or the patient dies. Investors care because longer progression-free survival in clinical trials often signals that a drug is effective, improving chances of regulatory approval, market adoption, and revenue potential—think of it as a stopwatch showing how long a therapy can keep the illness at bay.
hazard ratio technical
"hazard ratio [HR]: 0.43"
A hazard ratio is a way scientists compare the chance of something happening over time between two groups, like patients taking different medicines. If the ratio is high, it means one group is more likely to experience the event sooner or more often, which helps determine how effective a treatment is or how risky a situation might be.
PET-CR medical
"positron emission tomography complete response (PET-CR)"
PET-CR stands for a complete metabolic response on a positron emission tomography (PET) scan, meaning the scan shows no detectable disease activity after treatment. For investors, PET-CR is a clinical measure used in trials and regulatory reports to indicate how well a therapy or procedure eliminates signs of active disease on imaging, similar to a “no smoke” result after putting out a fire, and can influence perceptions of a treatment’s effectiveness and commercial potential.
myelosuppression medical
"serious or severe myelosuppression including neutropenia"
A condition where the bone marrow slows or stops making blood cells, causing low white cells (higher infection risk), red cells (fatigue, oxygen problems), or platelets (bleeding risk). Think of the marrow as a factory that supplies vital workers; when it falters, patients become vulnerable. For investors, myelosuppression matters because it can limit a drug’s safety, change dosing or monitoring needs, affect regulatory approval and label warnings, and influence commercial potential and costs.
antibody-dependent cell-mediated cytotoxicity medical
"Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC)"
Antibody-dependent cell-mediated cytotoxicity is an immune process where antibodies stick to a target cell (such as an infected or cancerous cell) and then recruit immune “killer” cells to recognize and destroy that marked cell. Think of the antibody as a flag that directs immune soldiers to the target; the strength and specificity of this process matter to investors because it influences how well antibody-based therapies work and can affect a drug’s clinical success, safety profile, and commercial value.
antibody-dependent cellular phagocytosis medical
"Antibody-Dependent Cellular Phagocytosis (ADCP)"
A process in which antibodies coat a target cell or particle and mark it for engulfment and destruction by immune cells called phagocytes. Think of antibodies as sticky labels that help white blood cells recognize and “eat” harmful cells or debris. Investors care because measuring or enhancing this activity is often used to judge how well vaccines, antibody drugs, or immune therapies work, and it can affect clinical trial results and commercial value.

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  • Minjuvi® (tafasitamab), in combination with rituximab and lenalidomide, is the first and only chemotherapy-free CD19 and CD20 dual-targeted immunotherapy combination regimen listed on the Pharmaceutical Benefits Scheme (PBS) for adults with relapsed or refractory follicular lymphoma (R/R FL) (Grade 1-3a).[1],[2]
  • In the pivotal Phase 3 inMIND clinical trial, patients with R/R FL receiving the Minjuvi combination regimen experienced a significant improvement in progression-free survival, with a 57% reduction in the risk of disease progression, relapse or death, compared with placebo plus lenalidomide and rituximab.[3]
  • Follicular lymphoma is the second most common non-Hodgkin lymphoma (NHL), with over 10,000 Australians living with the disease and approximately 1,500 Australians diagnosed each year.[4],[5]

SINGAPORE, Aug. 2, 2026 /PRNewswire/ -- Independent biopharmaceutical company Specialised Therapeutics (ST) is pleased to announce the listing of Minjuvi® (tafasitamab), in combination with rituximab and lenalidomide, on the Pharmaceutical Benefits Scheme (PBS) for the treatment of Australian adults with relapsed or refractory follicular lymphoma (R/R FL) (Grade 1-3a).[1] This milestone follows the Australian registration of Minjuvi for R/R FL by the Therapeutic Goods Administration (TGA) in April 2026, via the Project Orbis process.[6]

The PBS listing of Minjuvi marks the availability of the first and only chemotherapy-free CD19 and CD20 dual-targeted immunotherapy combination regimen funded in Australia for this group of patients.[1],[2] Effective 1 August 2026, eligible patients with FL who have experienced relapses or disease progression on existing therapies will now have equitable access to a new treatment option for this difficult-to-treat condition.[1]

"As the first new therapy to be reimbursed on the PBS for R/R FL in nine years, we are extremely proud to have partnered with Incyte to bring Minjuvi to Australia," said Carlo Montagner, ST Chief Executive Officer. "After securing TGA registration for Minjuvi in R/R FL earlier this year, we have been focused on expediting PBS listing to ensure eligible Australian patients could have subsidised access to a new treatment option that may help lower the risk of disease progression, relapse or death, without delay."

ST entered into an exclusive distribution agreement with Incyte (NASDAQ:INCY) in 2021 to commercialise Minjuvi in Australia, New Zealand and Singapore.

Minjuvi is a CD19 targeting immunotherapy that works within a patient's immune system to help find and eliminate malignant B-cells.[7] In combination with rituximab and lenalidomide, Minjuvi delivers a complementary immune-mediated approach that helps control disease progression and supports improved long-term outcomes for patients with follicular lymphoma.[7]

The PBS reimbursement underscores the growing recognition of innovative immunotherapy-based treatment strategies in follicular lymphoma and reinforces ST's commitment to improving access to life-changing therapies for patients across the Asia-Pacific region.

"While follicular lymphoma can be a slow-growing disease that usually responds well to the first treatment, most patients are not cured. Many patients experience frequent relapses and require multiple therapies over their lifetime, which become progressively less effective, especially for those whose disease comes back soon after initial chemotherapy treatment," said Associate Professor Philip Thompson, Clinical Haematologist at the Peter MacCallum Cancer Centre and Royal Melbourne Hospital in Melbourne. "Today's PBS listing announcement is welcome news for the Australian clinical and patient community, providing us with a new, chemotherapy-free immunotherapy treatment for R/R FL."

Minjuvi is administered via intravenous (IV) infusion in a clinic or hospital setting.[7] Patients with R/R FL receive up to 12 treatment cycles of Minjuvi, along with oral lenalidomide capsules, while rituximab is delivered intravenously for the first five cycles.[7]

"Knowing that a chemotherapy-free immunotherapy is now funded by the PBS is an important development for the follicular lymphoma community," said Sharon Winton, Chief Executive Officer of Lymphoma Australia. "As patients manage the challenges of recurring disease, this new treatment milestone offers a valuable option that is deeply meaningful to them and their families."

The PBS listing of Minjuvi for R/R FL means these patients will now have equitable access to a new targeted immunotherapy combination treatment when they need it. It is important that patients with R/R FL speak with their doctor to understand the most suitable treatment option available for them.

For further details on Minjuvi, contact your healthcare professional and please refer to the approved Australian Consumer Medicine Information or Product Information available from the TGA website.

PBS Information:

This medicine is listed on the Pharmaceutical Benefits Scheme (PBS) — AUTHORITY REQUIRED. Refer to the PBS Schedule www.pbs.gov.au for full authority information.

Important Safety Information on Minjuvi[7]

Minjuvi should be administered to patients with an active infection only if the infection is treated appropriately and well controlled. Patients with a history of recurring or chronic infections may be at increased risk of infection and should be monitored appropriately. Patients should be advised to contact their healthcare professionals if fever or other evidence of potential infection, such as chills, cough or pain on urination, develops.

Treatment with Minjuvi in combination with lenalidomide and/or rituximab should not be initiated in female patients unless pregnancy has been excluded. In the inMIND study, the most common adverse reactions were infections (68%), including viral infections (41%) and bacterial infections (27%); neutropenia (57%), rash (36.4%), asthenia (34.9%), pyrexia (19%), thrombocytopenia (17%), anaemia (17%), infusion related reaction (15.9%), pruritus (15.6%), and headache (10.4%). The most common serious adverse reactions were infections (26%), including viral infections (13%) and bacterial infections (6%), febrile neutropenia (2.8%), and pyrexia (1.8%).

Treatment with tafasitamab can cause serious or severe myelosuppression including neutropenia, thrombocytopenia, and anaemia. Complete blood counts should be monitored throughout treatment and prior to administration of each treatment cycle.

Ends.

About Minjuvi® (tafasitamab)

Minjuvi® (tafasitamab) is a humanised Fc-modified cytolytic CD19-targeting monoclonal antibody. Minjuvi incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP).[7] Incyte licenses exclusive worldwide rights to develop and commercialise Minjuvi from Xencor, Inc. 

In the U.S., Monjuvi® (tafasitamab-cxix) is approved by the U.S. Food and Drug Administration in combination with lenalidomide and rituximab for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL). Additionally, Monjuvi received accelerated approval in the United States in combination with lenalidomide for the treatment of adult patients with relapsed or refractory DLBCL not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for ASCT. 

Monjuvi is not indicated and is not recommended for the treatment of patients with relapsed or refractory marginal zone lymphoma outside of controlled clinical trials. 

In Europe, Minjuvi® (tafasitamab) received conditional Marketing Authorisation from the European Medicines Agency in combination with lenalidomide, followed by Minjuvi monotherapy, for the treatment of adult patients with relapsed or refractory DLBCL who are not eligible for ASCT. In addition, in December 2025, the EMA approved Minjuvi, in combination with lenalidomide and rituximab, for the treatment of adult patients with relapsed or refractory FL (Grade 1-3a) after at least one line of systemic therapy. 

In Japan, Minjuvi is approved in combination with lenalidomide for the treatment of adults with relapsed or refractory DLBCL. Minjuvi is also approved in combination with rituximab and lenalidomide for adult patients with relapsed or refractory FL (2L+ FL). 

In Australia, Minjuvi® (tafasitamab) is indicated in combination with lenalidomide followed by Minjuvi monotherapy for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who are not eligible for autologous stem cell transplant (ASCT).[7]

This medicine is included in the TGA Black Triangle Scheme. Please report suspected adverse events to the TGA.[7]

XmAb® is a registered trademark of Xencor, Inc. 

Monjuvi and Minjuvi are registered trademarks of Incyte. 

About the inMIND Study[3]

A global, double-blind, randomised, placebo-controlled Phase 3 study, inMIND (NCT04680052) evaluated the efficacy and safety of Minjuvi (tafasitamab) in combination with rituximab and lenalidomide compared with placebo in combination with rituximab and lenalidomide in patients with relapsed or refractory follicular lymphoma (FL) Grade 1 to 3a or relapsed or refractory nodal, splenic or extranodal marginal zone lymphoma (MZL). The study enrolled a total of 654 adults (age ≥18 years), including 548 participants with R/R FL. 54 Australians participated in the study across 12 local trial sites around the country.

The primary endpoint of the study is progression-free survival (PFS) by investigator assessment in the FL population, and the key secondary endpoints are PFS in the overall population as well as positron emission tomography complete response (PET-CR) and overall survival (OS) in the FL population.

The clinical trial met its primary endpoint, with the data demonstrating a statistically significant and clinically meaningful improvement in progression-free survival (PFS) in comparison to placebo added to lenalidomide and rituximab. Patients receiving Minjuvi in combination with rituximab and lenalidomide achieved a median PFS by investigator assessment of 22.4 months (95% CI, 19.2-not evaluable [NE]) compared to 13.9 months (95% CI, 11.5-16.4) in the control arm (hazard ratio [HR]: 0.43 [95% CI, 0.32-0.58]; P<0.0001). The PFS assessed by an Independent Review Committee (IRC) was consistent with investigator-based results. Median PFS by IRC was not reached (95% CI, 19.3-NE) in the Minjuvi group versus 16.0 months (95% CI, 13.9-21.1) in the placebo group (HR: 0.41 [95% CI, 0.29-0.56].

Minjuvi was generally well-tolerated, with a manageable safety profile. Safety and tolerability were comparable with the addition of Minjuvi to lenalidomide in combination with rituximab. The most common adverse reactions in the Phase 3 study (≥20%) in patients receiving Minjuvi, excluding laboratory abnormalities, were respiratory tract infections (including COVID-19 infection and pneumonia), diarrhoea, rash, fatigue, constipation, musculoskeletal pain and cough.

About Specialised Therapeutics

Founded in 2007, Specialised Therapeutics is an independent specialty pharmaceutical company, providing novel therapies and technologies to patients in Australia, New Zealand and across Southeast Asia. Headquartered in Singapore, ST partners with global pharmaceutical, biotech and diagnostic companies to bring novel healthcare opportunities to patients who are impacted by a range of diseases. ST has built a strong track record of success, navigating complex regulatory, reimbursement and commercialisation environments in its diverse regions across multiple therapeutic areas. The ST mission is to provide specialty therapies where there is an unmet need to communities that would otherwise not have ready access to such therapies. The company's broad therapeutic portfolio currently includes novel agents in oncology, haematology, CNS, neurology, endocrinology, ophthalmology and supportive care, although it is not confined to these areas.           

Additional information can be found at www.stbiopharma.com.

REFERENCES:

[1]. Australian Government, Department of Health, Disability and Ageing. PBS Schedule: PBS Publications & Downloads [August 2026].

[2]. NCCN Clinical Practice Guidelines in Oncology. B-Cell Lymphomas. Version 3.2026.

[3]. Sehn LH, et al. Lancet. 2026 Jan 10;407(10524):133-146.

[4]. Lymphoma Australia. Types of Lymphoma: Follicular Lymphoma. [Accessed July 2026].

[5]. Australian Institute of Health and Welfare (AIHW). Cancer Data in Australia: Prevalence Data Workbook – Blood Cancer Histology. [Accessed July 2026].

[6]. Therapeutic Goods Administration. Australian Register of Therapeutic Goods (ARTG): MINJUVI (tafasitamab). [Accessed July 2026].

[7]. MINJUVI Australian Product Information. 20 April 2026.

 

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SOURCE Specialised Therapeutics

FAQ

What did Incyte (NASDAQ: INCY) announce about Minjuvi’s PBS listing on 2 August 2026?

Minjuvi, licensed globally to Incyte, was listed on Australia’s PBS from 1 August 2026 for adult relapsed or refractory follicular lymphoma. According to Specialised Therapeutics, this chemotherapy-free CD19/CD20 immunotherapy combination with rituximab and lenalidomide is the first of its kind reimbursed for this indication.

How effective is Minjuvi plus rituximab and lenalidomide for relapsed follicular lymphoma according to INCY (NASDAQ: INCY)?

The Minjuvi combination significantly improved progression-free survival in relapsed or refractory follicular lymphoma. According to Specialised Therapeutics, the Phase 3 inMIND trial showed a 57% reduction in risk of progression, relapse or death, with median PFS of 22.4 months versus 13.9 months for the control regimen.

What are the main side effects of Minjuvi combination therapy for follicular lymphoma investors in INCY should know?

Common side effects include infections, myelosuppression and constitutional symptoms. According to Specialised Therapeutics, infections occurred in 68% of patients, neutropenia in 57%, rash in 36.4% and asthenia in 34.9%, with serious infections in 26% and requirements for close blood count and infection monitoring.

How is Minjuvi (tafasitamab) administered for R/R follicular lymphoma under the PBS listing?

Minjuvi is given by intravenous infusion in clinic or hospital alongside rituximab and lenalidomide. According to Specialised Therapeutics, patients may receive up to 12 treatment cycles, with rituximab delivered intravenously for the first five cycles and lenalidomide taken orally throughout combination therapy.

What does the Australian PBS reimbursement of Minjuvi mean for INCY (NASDAQ: INCY) shareholders?

PBS reimbursement enables publicly funded access to Minjuvi’s FL regimen in Australia, expanding its commercial footprint. According to Specialised Therapeutics, the listing follows TGA approval via Project Orbis and leverages its exclusive distribution agreement with Incyte covering Australia, New Zealand and Singapore.

How many Australians are affected by follicular lymphoma, the target disease for Minjuvi and INCY?

Follicular lymphoma is the second most common non-Hodgkin lymphoma in Australia, with over 10,000 people living with the disease. According to Specialised Therapeutics, approximately 1,500 Australians are diagnosed each year, and many experience multiple relapses requiring successive lines of therapy over their lifetime.

In which global indications is Minjuvi/Monjuvi currently approved that relate to INCY (NASDAQ: INCY)?

Minjuvi/Monjuvi is approved across FL and DLBCL indications in major markets. According to Incyte, approvals include FL and DLBCL in the US, FL and DLBCL in Europe, DLBCL and FL in Japan, and DLBCL in Australia, often in combination with lenalidomide and/or rituximab.