Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The point is they can set forth a plan of action - ie we are going to solidify our patent portfolio by taking additional filings, without being obliged to inform shareholders along each step of the way. Dan suggests applying for orphan status is necessary for 002, but did not indicate he would inform us when NFX applied (as with patent filings), & I for one leaving the discussion, had no expectation one would be forthcoming. Storm in a tea cup, nothing is happening till the summer........
I know they are not obligated to supply such information but you are missing the point. If they are so keen to tell us they are going to apply where is the harm in answering a simple question on whether they have done so or not.
Anyway, we are going round in circles . Some believe it's odd they won't answer yes or no and others think it's fine to mention it then clam up about it.
Dan went on telegram solely to schmooze and get the AGM resolutions over the line,and the money raised was for wages,not some further work on the assets.Its a waiting game for deals.I can’t see the orphan drug route holding sway, if someone is going to sign or buy the assets,they will.They can always apply for that themselves.They have supposedly been in talks a while,so what’s the hold up,they either want them or they don’t,NFX aren’t in a position to play hard ball.
If you want to know Dan's rationale FFX thats a question for him not me.
"No Chab there is no obligation on them to inform shareholders every time they file for a patent, orphan status or a grant."
By the same rule Jiving, If that really is a Nuformix representative then why do they feel obliged to share the company's intentions via a limited confab on Telegram?
Replace first bit with
t me /
tg link: *************nuformixnfx
No Chab there is no obligation on them to inform shareholders every time they file for a patent, orphan status or a grant. They haven't in the past so why should they now?
Looks like someone doesn't like the lack of info - big drop this morning.
Can I have a link to the telegram group
"I didnt expect there to be any announcement of them filing for that status"
Without wanting to seem argumentative that just doesn't hold water. The are quite happy to tell the world that they intend to apply for such status but then don't seem to want to tell pi's whether they have done so. Seems very picky about what they wish to divulge even though Dan appears to enjoy a chat on Telegram.
ATB
Good link Mars, there is a lot of money available for the right deals - does that include ours?
I also agree that the orphan status appeared from Dan's TG discussion to be a necessary condition for making progress. I could see from the Pharma's perspective why they would require this form of elementary 'free' filtering of potential candidates. I didnt expect there to be any announcement of them filing for that status, just as they dont announce in advance when they file patent claims in US/Japan etc. I would hope for an update in the summer if the orphan status is awarded & it would be natural then to set out the path ahead for the rest of the year. I dont have any expectation of news until then.
Pre-AGM all rumour pointed towards orphan status being the key to any deal. So either that was all BS and they haven't submitted it or they don't want to announce that they have. I don't know the answer to that.
What is remarkably strange though is that there is a deafening silence from a number of individuals who would normally be very quick to pour cold water on anyone suggesting that things might not be moving along. Again, I have no idea why. Hopefully they are all in good health. It just seems unusually strange that they don't have anything at all to say.
One question does arise is what keeps you so busy you cannot multitask ie pursue orphan status in addition to outlicensing. A huge part of the process is due diligence but providing data to be analysed by the counterparts does not create that pressure there are periods of high activity and then awaiting the outcome from activity from the other side of the fence. There may be other requirements that exist but full blown involvement is required looking at alternative results or legal agreements. Wishful thing I know
We certainly would but the reply from donttelltoomuchTim indicates they are too busy dealing with licensing to pursue the orphan application atm
Mars,
Isn't that what we all believed the board to be doing for the last year or more?
It would be nice to know who exactly they have talking to.
PWC need to tell AZ
“Biotech acquisitions to fend off patent cliffs: Large-cap pharma companies will continue to face patent cliffs and gaps in their pipelines in the latter half of this decade and will look for M&A opportunities to achieve their growth plans. Small and midsize biotech companies that can fill in pipeline gaps in the back half of the decade will receive significant attention in 2024. However, the threshold rates of return which these acquisition targets must clear are now higher because of higher risk-free interest rates; as such, the competition will be fierce for truly innovative targets whose clinical differentiation is backed by good data.”
https://www.pwc.com/gx/en/services/deals/trends/health-industries.html
Maybe they need to tell the pharmas
EY 2024 Pharma M&A
“M&A targets: oncology and rare diseases
The huge growth potential of the oncology market is reflected in companies’ M&A spending over the past five years, with oncology dominating industry acquisitions in both value and volume terms…..
With legislation such as the IRA unlikely to affect the price point for orphan drugs, companies specializing in rare diseases have become significant M&A targets, “
https://www.ey.com/en_gl/newsroom/2024/01/deals-are-back-surge-in-life-sciences-m-a-fueled-by-sector-s-capital-reserves-and-quest-for-new-revenue-growth
Wrong message board mate.
You don't seem to post much anymore, everything OK? I miss reading your contributions to FCM especially!
FX that was true however one can only guess that they were advised by pharmas they were talking to, to prove the duration tests as inhalation was a new process for forms of Tranilast and this completed the data set. Of course increasing data sets would have taken time during the process which we have been told is 6 months +
I thought Gooding was brought in as a Business Development Consultant back in Mar 2022 (see RNS dated 28 Mar 2022).
Was that not when they decided that things were at a point where it was feasible to start approaching potential partners?
Thought I would check back to see if I could identify when the co thought they were ready to recommence discussions. The first clear notice and the last separate update on NXP002 was 18th May 23. Since then we have had patent updates with notice that discussions are ongoing. Data sets have had to be increased. There would have been some initial foraging before the process started and delays with summer breaks but if things started moving in September it should mean activity is in the final phases possibly
“Following the success achieved in these studies the Company's next steps include:
· Expansion of the current studies to include tissue from further human IPF tissue donors to demonstrate the robustness of NXP002's anti-fibrotic response alone and in SoC combinations in multiple patients; and
· Formally commencing the NXP002 partnering process now that Company has the minimum dataset required to support NXP002's development as an inhaled treatment for IPF, for use alongside SoC's.
Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "I'm absolutely delighted with the data we've generated over recent months - all the results we've achieved are as good as we could have hoped for and are the first results from advanced 'close to patient' IPF and inflammation human tissue disease models. The inflammation data was perhaps expected given past results but provides further support of NXP002's potential to deliver increased performance on top of existing standards of care. However, the positive duration of action data is a first for the NXP002 programme and allows the Company to discharge one of the programme's last remaining development risks that hasn't previously been addressed.
"The combined data gives us great confidence in NXP002's potential as an inhaled therapy for IPF treatment and allows the Company to tell a more complete pre-clinical story to potential licensing partners for the first time. We will now look for opportunities to share this important new data with key players in the rare disease and respiratory disease sectors as we explore all opportunities to progress the NXP002 programme."
OK I have emailed them. the @investor-focus part means that it is a generic PR company employed will be answering so this is not an ideal way to communicate with the company. But better than nothing.
Soup is the most informed and balanced investor I have seen on the LSE forums over the last 6 years.
He is very much appreciated here and I also hope he is ok and has just gone on snooze mode as there is not a lot happening here!