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Https://ir.xiliotx.com/news-releases/news-release-details/gilead-and-xilio-announce-exclusive-license-agreement-tumor
So another deal for another tumour targeting platform and one that is in phase 1......cue the rampers saying its us next
For all of Al's ramping there is zero evidence that anyone is remotely interested in this tech. Its been in the shop window for 10 years now between Tufts and Avacta and still not a single significant licencing deal.......something doesn't add up and its not Mr Smiths pay packet!
Yep that's right TVC, this is exactly the type of license agreement Avacta could be enjoying before too long:
"Under the terms of the agreement, Xilio granted Gilead an exclusive global license to develop and commercialize XTX301, Xilio’s tumor-activated IL-12. Xilio will receive $43.5 million in upfront payments, including a cash payment of $30.0 million and an initial equity investment by Gilead of $13.5 million in Xilio common stock at a premium. Xilio will be eligible to receive up to $604.0 million in additional contingent payments, including additional equity investments by Gilead, a transition fee and specified development, regulatory and sales-based milestones. Xilio will also be eligible to receive tiered royalties ranging from high single digits to mid-teens on annual global net product sales."
Some context and corrections TVC:
-First, it is for a single drug. Not a platform. This deal is only to develop and commercialise XTX301.
-Second, how many deals did this company do before this one? none, at least for this drug. i.e., yesterday you would have put them in the same category that you have accused Avacta of.
-Third, you have no idea what kind of discussions Avacta are undergoing. This deal is a very small one, and if Avacta announced something like this for ava6k, it would be a terrible deal. Why? It gives away 100% rights of the drug and ava6k is going after a much larger market.
-Finally, this is a novel drug with an unproven (so far) mechanism of action. Very different to Precision and ava6k.
I fear you’re still be talking about potential licence deals in 12 months when the company is raising again.
In theory the precision platform should be the easiest platform in the world to out license as it uses proven drugs. But BP aren’t taking the bait, there’s something that PI’s are missing and BP are cautious about imo.
I think they are way ahead of Avacta personally. The company was only founded in 2016.
From Xilo website:
We are using our proprietary platform technology to design and develop tumor-activated immuno-oncology therapies that have the potential to provide effective, tolerable, and durable therapeutic options for patients with solid tumors. We are building a pipeline of novel, tumor-activated molecules, including antibodies, cytokines, bispecifics and cell engagers, that are designed to optimize their therapeutic index and localize anti-tumor activity within the tumor microenvironment
"there’s something that PI’s are missing" - again, that argument would apply to every single biotech company before their first deal. Why haven't BP gotten involved yet? Oh there must be a problem. Easy FUD until a deal is announced.
That is the point in investing in a company like Avacta, it is early stages so PIs have the opportunity to get in before BP get involved. If you are impatient, move on. Biotech takes time...especially when you are operating on a shoestring budget like Avacta (i.e., all UK early stage biotechs). Negotiations go both ways...i.e., Avacta may not want to do a deal until the price is right. Who knows. But argument that "BP isn't interested because there are no deals" is spurious and naive at best.
Anyone saying the PreCision platform has been overlooked yet again is misleading this BB...
Firstly, we already have a PreCision deal in place with Point Biopharma.
https://avacta.com/license-agreement-with-point-biopharma-inc/
Point Biopharma have just been acquired by Eli Lilly.
https://investor.lilly.com/news-releases/news-release-details/lilly-completes-acquisition-point-biopharma
'Cryptophycin-52 (Cr-52, LY355703, 11) was designed by Eli Lilly, and its reported potency is 40- to 400-fold greater than that of paclitaxel or vinca alkaloids, making it a promising clinical candidate [111,112,113,114]. The mechanism of action involves suppressing microtubule dynamics and arresting cells in the G2/M phase. However, the co-crystallization data between Cr-52 and tubulin has not yet been solved, and the details of the binding site remain elusive. The Cr-52 structure is an analogue to cryptophycin-1, containing two hydroxy acids (units A and D) and two amino acids (units B and C). Due to the steric hindrance of the geminal dimethyl group, it is more resistant against ester hydrolysis than are cryptophycin-1 derivatives [103]. After numerous preclinical studies, Eli Lilly advanced Cr-52 to clinical trials, with aims to define the MTD, recommended dose, pattern of toxicity, and pharmacokinetic profile. Two Phase I clinical trials were performed, and a dose of 1.5 mg/m2 was recommended for Phase II evaluation on a day 1 and 8 schedule every 21 days [111].
Despite these findings, the treatment effect for NSCLC was not achieved as expected. Twenty-six patients were enrolled, of whom 25 were evaluable for toxicity and response. There were no responders when the weekly dose was lowered from 1.5 mg/m2 to 1.125 mg/m2. Median survival was 4.1 months, and toxicity was predominantly neurologic in the form of peripheral neuropathy and constipation [113]. Another study was performed to determine the activity of LY355703 and to characterize its toxicity profile in patients with platinum-resistant advanced ovarian cancer, but only modest activity was observed in these patients [114].
Cr-52 failed in Phase II clinical studies due to the lack of efficacy and its high toxicity at the chosen doses. Although the cryptophycins were unable to advance to stand-alone agents, desirable characteristics including high potency, relative hydrophilicity, lack of P-gp susceptibility, and a common resistance mechanism make it an attractive ADC payload. '
Now who'se to say Lilly might not be looking at PreCision???
@TVC - then invest in Xilo if you think that they are ahead or better. If that's what you think, great. I think your evaluation is spurious. From what I can see, Avacta are years ahead and with much greater potential. So that's where I'll put my money.
Wow this board just sees everything through rose tinted glasses.
The share price could be 5p and it would still be the same nonsense. Totally blinkered.
If the Agreement with Point Bio remains in place with adjustments to reflect the fact Lilly are now the new owners of Point then we have, in effect, a deal for PreCision with Lilly now...and Lilly, being who they are, I'm sure will be given access to our AVA6000 data if they express a serious interest in that too...
IMO it's just a question of each individual investors timescales, simple as.
There’s been zero out of Point in 3 years. There is nothing to suggest El Lilly are remotely interested in Precision either.
You rampers really are dangerous. You should all get a job at Avacta, you can all start filming rampy videos for the company too.
Meanwhile the share price keeps tanking!!
JT, when you say " ...especially when you are operating on a shoestring budget like Avacta"
How many 100's of millions, does it take not to be shoestring any more?
( I think its close to £200m so far and they have produced since 2006........
It varies rough yardstick "Therapeutic area-specific estimates were highest for anticancer drugs (between $944 million and $4.54 billion).to get a drug to market " so " £200m " so far is certainly doing it on a shoestring . Hence the need for partner licences to help take Precision platform fowards which remains the company plan .(+ bonus is we retain AVA6000 inhouse and IP )