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Another ipsc licencing deal. Adaptimmune again, this time with Roche. $150m upfront, another $150m over 8 years, plus structured milestone payments that could amount to $3bn, plus royalties.
Such a hot space to be involved in, if rene can get POC for their ipsc platform, then the opportunities are huge.
Agreed Phil all is looking towards an upside in next 12 months I firmly believe if you see my last post I have a link to Silence Therapeutics results 30.03.21 which is very encouraging. Iain is non Exec Chairman their and the=re is much synergy between the two operations and they have a deal with Astra Zenica so who knows what interesting opportunities may exist. Best wishes and good luck to us all.
Silence therapeutics is one of his current non-executive roles. Richard Griffiths has had some serious money involved there, and is obviously increasing his holding in Rene of late. Wonder if this appointment has therefore been recommended by Griffiths?
I also liked the sound of that quote, Clive.
Iain Ross new Chairman RNS announcement this morning; Fantastic news for us all to have such an experienced and well connected new Chairman is instaslling confidence, I particularly like the comments he made "I am delighted to be joining Reneuron at such a pivotal time and look forward to working with the Board & Management and to ensuring a significant uplift in shareholder value over the next few years." If this doesn’t give confidence to hold ReNe then I dontr know what will. Well done Olav.
Hardly surprising with no CFO, delays to trials, a medical issue and no deals or other positive news publicised.
Looks like a shed load of shares dumped today, unless BOD pull their fingers out this company will fall behind in the race with their research
Phil, Thanks for this (some very useful info posted of late cheers), I believe we have news coming but timing maybe to coincide with other programmed expected RNS’s regardfless of delay ie 1/. June we should get notification of pending date for YE prelims announced. 2/. Preliminary Y.E. results, announced with webcast - normally 11.07. 3/. August announce AGM date + annual report. 4/. AGM in September. 5/. December interim results announced around 6/12. Clearly we are in need of RP issue on treatment infection, commercial progress in that I mean a firm deal plus update on other deal progress would be nice. Plus some confirmation of whether Michael no2 is taking over or a new candidate. So it should be a steady flow you would expect particularly as we have Richard Griffiths giving som much support.
*CEO Olav Hellebo.
We don't currently have a CFO, in case the company needed reminding.
From the 6th Jan conference call transcript:
https://finance.yahoo.com/news/edited-transcript-rqe-l-earnings-100000766.html
CFO Olav Hellebo:
'The third platform here is iPSCs. So induced pluripotent stem cells, a very hot area for research as well. We've been able to take our neural stem cells and engineer them back into becoming iPSCs while preserving the immortalization. And that means that we're able to create large volumes of these iPSC cells. And this is the biggest issue in the field. So we think that we have an opportunity to craft that. The holy grail there is to create allogeneic CAR-T cells, and that is our goal.'
'And then the third program is the iPSC platform. The next milestone here is to validate the technology via animal proof-of-concept data that we're generating internally.'
Kite partners with Shoreline Biosciences to develop allogeneic cell therapies -
'The deal could be worth a total of up to $2.3bn, with Shoreline receiving an undisclosed upfront payment'
https://www.pmlive.com/pharma_news/kite_partners_with_shoreline_biosciences_to_develop_allogeneic_cell_therapies_1371795
Rene need a piece of this pie; no wonder Olav was talking up the potential here - the deals are fantastic.
Thanks Phil, this is very detailed and does show the potential I agree but the company needs to become more transparent and expose some of the dealings or at least deliver one or two for the confidence to be restored. Indeed deals are like the trials, negotiations are protracted and have I am sure certain milestones to become real and tangible but just like trials they could be summarised with indication of expectation, even without stating names. All we have to go on is to Re look at signed nda agreements going back to 2018, but I cannot reliably confirm how many there are let alone if they have fallen by the wayside? I hope the new PR agency picks up or is monitoring these notice boards to relate back for consideration.
Again referring back to the iPSC platform, a selection of recent collaboration deals below. Perhaps that's why Olav was saying the opportunities are 'huge' and the potential 'enormous'. Food for thought, and again underlines the potential scale of the platform play on offer here.
2nd April 2020 - Fate eligible to receive $50m upfront, and payments of up to $1.8 billion in development and regulatory milestones and up to $1.2 billion in commercial milestone payments, plus double-digit royalties.
https://www.globenewswire.com/news-release/2020/04/02/2011136/0/en/Fate-Therapeutics-Announces-Worldwide-Collaboration-with-Janssen-for-Novel-iPSC-derived-Cell-based-Cancer-Immunotherapies.html
5th Nov 2019 - Allogene will provide to Notch an upfront payment of $10 million. Notch will be eligible to receive up to $7.25 million upon achieving certain agreed research milestones, up to $4.0 million per exclusive target upon achieving certain pre-clinical development milestones, and up to $283 million per exclusive target and cell type upon achieving certain clinical, regulatory and commercial milestones as well as tiered royalties on net sales in the mid to high single digits.
https://www.globenewswire.com/news-release/2019/11/05/1940970/0/en/Allogene-Therapeutics-and-Notch-Therapeutics-Announce-Collaboration-to-Research-and-Develop-Induced-Pluripotent-Stem-Cell-iPSC-Derived-Allogeneic-Therapies-for-Hematologic-Cancer-I.html
1st June 2021 - Heartseed is eligible to receive payments totalling up to 598 million US dollars including 55 million dollars in upfront and near-term milestone payments. Heartseed is also eligible to receive tiered high single-digit to low double-digit royalties of annual net sales outside of Japan.
https://www.pharmiweb.com/pwtoday-story/heartseed-and-novo-nordisk-enter-into-global-collaboration-and-licence-agreement-for-stem-cell-based-therapy-for-heart-failure
14th Jan 2020 - Under the terms of the agreement, Adaptimmune may receive up to $897.5 million in payments, including:
- an upfront payment of $50 million.
- development milestones totalling up to $73.75 million for each product if the collaboration product discovered in this partnership is co-developed and commercialized by both companies
- Up to $147.5 million in milestone payments per product and up to $110 million in sales milestones for products developed unilaterally by Astellas.
- In addition, Adaptimmune will receive research funding of up to $7.5 million per year.
Finally, Adaptimmune would receive tiered royalties on net sales in the mid-single to mid-teen digits.
Under the terms of the agreement, Astellas may receive up to $552.5 million, including:
- Up to $147.5 million in milestone payments per product and up to $110 million in sales milestones for products developed unilaterally by Adaptimmune.
https://www.adaptimmune.com/investors-and-media/news-events/press-releases/detail/8/astellas-and-adaptimmune-enter-into-agreement-to-co-
Referring back to my post a few weeks ago about the increasing references to the iPSC platform, I've come across a couple of presentations just recently that I hadn't previously seen. Links below:
Cell & Gene Meeting on the Med – CEO Investor Presentation. . . .
https://www.youtube.com/watch?v=wKco5BP1IFo&ab_channel=ReNeuronLimited
H.C. Wainwright Global Life Sciences Conference. . . .
https://www.youtube.com/watch?v=sbf_MpyiZWE&ab_channel=ReNeuronLimited
Both are presented by Olav, and the content is pretty similar. They also both finish with interesting comments regarding the iPSC platform, if you want to skip to the final 30s or so.
1st video:
". . . and there's another programme that I haven't talked about, which is the iPSCs where we also have huge potential over the next few months. . . "
2nd video:
". . . I didn't go into the iPSCs any further, please go to our website to look at that. It is an earlier stage programme than the exosomes, but the potential is enormous . . ."
Hopefully this will be expanded on in future presentations, but I'm still trying to get my head around what the opportunity is here. I mentioned previously that perhaps the scope is something reminiscent of the type of model Maxcyte offers, which if true, could be exceptional. Any thoughts or insight on that would be most welcomed, as in the words of outgoing CFO Michael Hunt, that area of the business is beyond my pay grade.
Certainly a detailed note, and interesting to get further insight especially on some of the less well publicised deals across the market.
What I have also noticed in the last 6 months or so is an increasing number of references to the iPSC programme. I don't fully understand what the potential is here, and also don't really know of the competition. However, I'm presuming it's possible for others to licence the company's iPSC programme in the future as a means of creating and manufacturing whatever cell they want for their own studies. If so (and obviously I freely admit I am speculating), then it perhaps means this side of the business could develop in a similar way to the Maxcyte business model for gene therapy.
Development stage companies paying Rene to use their technology to develop cell therapies, then milestone payments, followed by royalties if the treatments get to market. Almost no risk to Rene, with income streams from a range of potential partners and value getting baked in as the other companies advance their studies. Massive potential if that's the case. Any thoughts welcome on that point, as perhaps I'm barking up the wrong tree, but seems possible.
Just found an Edison report from 2016: 'Our valuation has increased to £249m (vs £233m) or 7.9p per share (vs 7.4p per share)'. Considering the advances made and large licencing deal made, a market cap of a third of that now looks ridiculous.
Agree, but Edison had a price target of £330 12 years ago (£3.30 in today's money before the 1/100 reverse split). Interestingly their new target is £3.34 so I guess they haven't changed their position that much if you ignore the split and inflation!
No harm in keeping ReNeuron front of mind with this RNS today showing research sponsor Allenby Capital Limited, the Company's joint broker and broker share price forecasts which may help confidence for new investors to hold longer. http://www.reneuron.com/investors/analyst-research-and-presentations/. However, a more transparent update on deal progress would provide more confidence and understanding, This would be a bold step but one the shareholder base could handle and respect.
Like the prospects here and chart looks good, hopefully a move up soon
I think the technicals are looking pretty rosy right now and this brings confident and bullish investors/traders to the table. Been having a look at the charts on tradingview and assuming there isn't some spectacular crash before the end of this month (probably shouldn't have said that), we will have had 4 consecutive green months, which included a breakout in January from long term resistance and a bear market.
The monthly MACD is now extremely close to a bullish crossover, and that is one of the most powerful signals for medium to long term bullish sentiment you can look for in technical analysis. No such thing as a certainty with any of this as you will all well know, but the fundamentals and technicals are aligning nicely for the months ahead.
Something seems to be stirring! Dipped my toe back in this morning. My thinking is simply that any positive development for this company must be in the next six months or not at all.
A shortage of sellers or new buyers replacing, whatever it is encouraging to see ReNe making positive moves upwards, just require a new RNS with some encouraging news. Any thoughts