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Hi C79 - I'd also pondered the 'what if' of someone getting 737 to intentionally hinder progress but going by the known terms of the deal, the licensee will be handing over additional fees made up of up to US$1.0 million cash and 500,000 shares in the Licensee Company upon the sooner of 12 months following the signing of the Licensing Agreement, or the event of the Licensee Company achieving certain commercial and material financing objectives.
So we'd assume the BoD will have to name whichever company we'll have 135,000 shares in as and when the time comes. That should allow us to look at their own pipeline to gauge their direction and intentions.
Maybe Boundless Bio pre-empted their listing when they added that clause into the agreement (assuming it's them as their CSO was also CSO at Sierra!)
Morning gents, you are right, it is only a tiny little doubt - that's the conspiracy theorist in me!
I trust CCT245737 will break cover in the near future and all will be revealed; as you say onwards and upwards.
ATVB
I think we can be reasonably certain that 737 was only "sold on" with the stipulation it would not be shelved after the debacle with SO ... LH&K Mafuta
Very odd that we have no idea who has taken on 245737.
Chk1i certainly not dead. 2 months now and no update to a licence that is nigh identical to the old Pronai Therapeutics licence.
It is along the lines of an ex member of SO wanted a continuation of the license from CPF.
Possibility of a new company set up for the development of 737 as mentioned private company.
Somebody keeping it all very hush hush for which there must be a reason.
Am certain the old agreement the licensee was required to update the CPF every 3 months.
Doing a lot if digging around but nothing concrete. Would a company set a new company up for the purpose if CHK1 development? If so for what purpose?
Regards and onwards and upwards for 1801.
Boundless Bio bumps IPO market back to life after sleepy few weeks:
https://www.fiercebiotech.com/biotech/boundless-bio-bumps-ipo-market-back-life-after-sleepy-few-weeks
FORM S-1 - REGISTRATION STATEMENT with SEC
https://www.sec.gov/Archives/edgar/data/1782303/000119312524060708/d493037ds1.htm
Boundless Bio Announces Multiple Upcoming Presentations at the American Association for Cancer Research Annual Meeting 2024:
https://finance.yahoo.com/news/boundless-bio-announces-multiple-upcoming-213000930.html
And don't forget Cambridge, UK based Sentinel Oncology with their CHK1i:
2020 - Sentinel collaboration with PharmaEngine for Pep-07 / Sol-578 (brain penetrant), they're also developing CASC-578 an oral CHK1i.
A Study of PEP07 (Checkpoint Kinase 1 Inhibitor) in Patients With Advanced or Metastatic Solid Tumors:
https://clinicaltrials.gov/study/NCT05983523
Will continue to dig into who may have taken CCT245737 on, but can't shake this tiny nagging fear that some bu@@er has licensed it to shelve it for their own ends.... Pharma is a duplicitous, deceitful business at times.
ATB all genuine holders & posters.
Basically they have a claim of a PASI75 score after 12 weeks. Pretty certain 1801 can achieve that if not better it.
Deucravacitinib 1st in class is now looking to become not best in class and 4 billion was paid up front.
Good informative pertinent postings from C79 as usual.
Regards
Most of us expect news soon, so hopefully this SP will be a bad dream in the near future. GLA
I didn't believe £1 was possible, not so long ago.
This cant go below 30p can it, really........................................
Be interested to read the six monthly report
which is due to be published anytime
Given the share price collapse in the same period it will be interesting to receive the BoD comments
D:
All 34.9 are buys as I topped up earlier although still not showing
Morning SOG - whilst Sierra might appear to be a good candidate there must be lots of other private companies, each protected from public view by the pharma's that own them. If any trial under control of the subsidiary fails then it's at arm's length of the parent company and won't create such large headlines.
It does make you wonder who was in the orderly queue - only small biotechs or did one or two of the majors also take an interest?
Someone attending the next meeting should pump the BoD for off-the-record info to be shared freely here!
Interesting post HbD.
I don't think you are way out with Sierra Oncology. However, it may well be that former directors or CEO's may have an involvement somewhere along the lines of perhaps a new private company. Nick Glover l have spoken about with MEI Pharmaceuticals but also Mark Kowalski who was Chief Medical Officer.
Stephen Dilley was CEO of Sierra during end development of Momoletonib and the sale of SO to GSK prior to commercialisation.
Shareholders were up in arms at the price of 1.9 billuon for SO. GSK stated that their main objective was for the Momoletonib.
No value had been attributed to 737. Edison had put a value of around 120 million dollars on the then current worth of 737 with a 1 in 6 chance if success. This equates to around 720 million worth if success was gained with the current 737 and LDG combo plus substantial preclinical work but not exhaustive in combination therapy with other inhibitors. This value was also placed prior to gaining patent protections granted on 2020.
Stephen Dilley resigned in 2022 after the takeover of SO by GSK. He was paid a years salary along with other benefits making circa 1.4 million dollars in total.
Why did he resign?
Of he were sacked he would lose these benefits unless an appeal involving legal proceedings would take place. Thete would have to be reason for SO to seek to dismiss him. This would also expose other persons involved in the reasonings for SO dismissal.
Shareholders up in arms, seeking blood.
I am very much of the firm belief that informal discussions had been taking place since 2020 between GSK and formal discussions commenced very late 2021.
Now GSK had met their main objective of obtaining Momoletonib for commercialisation.
What was the non main objective? My opinion of this is since early non formal communications from 2020 that in addition to the probable success of trial data of Momo that 737 was also discussed and that it was in the interest of GSK that 737 was not pursued. Indeed the for sale sign for 737 came down around Easter 2020.
Nothing has been done with 737 since and yet does have a value in addition to significant potential in the treatment of high grade serious ovarian cancer which is in an area of high unmet need.
The recently acquired Tesaro pipeline by GSK for 5.1 billion dollars was already at point of commercialisation and in clinical use. It was also granted clinical use in the EU for HGSOC although at a later period under the watchful eye of the EU safety standards as adverse effects arising warranted observation and restrictions were in place. It is not beyond reasonable comprehension that GSK would not wish to have a competitor in this area with projected sales of over 2 billion a year forecast.
When billions if dollar are involved many means to establish targets by fair means or foul will arise.
In the right hands 737 will be a success as opposed to have the clock run down on a potential beneficial treatmen
Hi LJ - no idea how much water the lawsuit holds. As someone here pointed out at the time, every merger/takeover in the US will probably see some activist shareholder(s) shouting foul and calling for legal action.
https://lawstreetmedia.com/news/health/shareholder-sues-oncology-company-over-securities-violations/
I was only thinking 737 was maybe back with Sierra as they obviously have prior knowledge/trials and patent applications not to mention now being 'private' but that probably means nothing in the world of big pharma. SOG put forward perfectly reasonable thoughts as to why development stalled so we're currently in the dark, not knowing in which direction to stab.
On the bright side, I think the 1801 MAD study should be completed this week or next so news must be just around the corner.
Regards.
Hi HBD
If I can recall I think some of the Siera shareholders were going to mount a legal challenge against their BOD for recommending acceptance of what they considered a low offer on takeover.
If there is any connection with the new deal for 737 and the Siera BOD or GSK it would make an interesting legal case .
The way the original deal was done with Siera was a disgrace as it was abused in both time delays and finance, there was no incentive to progress, hopefully CPF have learnt their lesson and stitched up the agreement tighter than a ducks a*se ie watertight.
Take no notice of the HL stats. particularly as they relate to Sareum-they are always rubbish: eg at present showing SP up by 14.52% and over 5 years up by 4,471%. The price 5 years ago was 35p by the way
How the f.. is this at 0.7p in old money? I might be a little naive but for this to be so low following all of the progression is a joke and the BoD have a lot to answer for in my opinion. Shareholder value and confidence just doesn't seem to matter. It's just a token line we get fed whenever AGM is coming around. I'm sick to the back teeth of it.
If they raise over $50m they may appear in the link below it updates daily; https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-24
Late RF dump.
Jeeeezzz... I have just looked on HL, was this really down another 8.57% today?????
As the licencee is a Private company, is it correct to say they can’t do a conventional raise. Therefore are we looking at a company that will raise funds via a biotech crowdfunding platform? If so it might not be so difficult to identify them.
Would a pleasant surprise if after the funding milestone the next is a first dosage milestone or submitted application for trial hopefully this time with no territory component like before.
Amended terms of a 2016 licensing agreement between Sierra Oncology Inc and CRT Pioneer Fund LP (CPF) for SRA737.
The AIM-listed drug development firm said under the 2016 agreement SRA737 was licensed to Sierra by CPF for up to US$328.5mln in developmental, regulatory and commercial milestones, plus royalties on the net sales of any product successfully developed. Sareum was eligible to receive 27.5% of the economics equating to up to US$88mln in milestone payments, plus sales royalties, as SRA737 advanced.
Under the terms of the original agreement, additional payments of up to an aggregate of US$319.5mln were payable to CPF upon the achievement of certain milestones, including a milestone payment of US$7.5mln upon the dosing of the first patient in the first Phase 1 trial of SRA737 in the US, and a payment of US$12mln upon the dosing of the first patient of a randomised Phase 2 trial of SRA737.
Under the amended agreement, Sareum and CPF have agreed to a decrease in the additional milestone payments of up to US$290mln that may be payable to CPF upon the achievement of certain milestones, including a milestone payment of US$2mln upon the dosing of the first patient of the first trial of SRA737 following the amendment
Evening Leggster - yeah, as far as I can see the earliest milestone is simply dependent on accessing funding or even sub-licencing as the RNS refers to commercial objectives.
Thereafter the RNS stated, "Additional payments to the aggregate amount of up to US$289 million may become payable to CPF under the Licensing Agreement, subject to achievement of certain development, regulatory and commercial milestones." So this would probably include the payment clauses relating to getting 737 into patients that BenH alluded to.
Although I've previously suggested 737 might be back in the hands of Sierra, as they are now a GSK company I can't see how funding would be any sort of issue. I expect I'll continue to overthink things until the truth comes out.