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Chelsea,

I'm sure there'll be a prospectus packed with information to justify the pricing but at the end of the day it comes down to what people are prepared to pay, what the market will tolerate - so setting the price at the optimum level.

BioNTech have announced details of their IPO today - they're looking to raise up to $300m through the offer of around 15.2 m ADSs priced between $18 and $20. That gives a top valuation for the Company of up to $4.5 billion! Astonishing given the early stage of its pipeline.

https://www.businesswire.com/news/home/20190924005568/en/BioNTech-Announces-Commencement-Initial-Public-Offering

Katnick,

Sorry just to be clear, the purchase of the whole Loxo pipeline by Eli Lilly for $8 billion certainly wasn't at a bargain price but the pipeline included a drug previously purchased from Redex Pharma .

Loxo bought Redx's BTK inhibitor when Redx were in administration due to Liverpool Council recalling a £4m loan. Apparently there were 3 interested parties but only Loxo could complete due diligence and the purchase quickly enough (within 3 months). The drug was sold for a flat £40m and sadly for Redx holders (myself included!) the deal didn't include any milestones or royalties. Having said that it was enough to pay off Redx's creditors, take them out of administration and resume trading - a very rare occurrence for any AIM listed companies, let alone a bio.

Makes you wonder what sort of deal Redx would have been able to secure if they hadn't been forced into a sale.

Well actually they only get royalties from Larotrectinib as Loxo had already licensed it to Bayer, but yes Lilly bought the rest of Loxo's pipeline which includes a RET inhibitor and of course the BTK inhibitor acquired from Redx Pharma at bargain basement price.

corr - telling the Larotrectinib story

TF,

Also worth noting that Larotrectinib was developed by Loxo Oncology, a company that was co-founded by Keith Flaherty and has since been sold to Eli Lilly for $8 billion. For anyone who is interested, below is link to a webcast of Keith Flaherty's telling the Larotrectinib at AACR earlier this year.

https://webcast.aacr.org/console/player/36794?mediaType=slideVideo&

Interesting - very quick summary based on my understanding of each abstract. Purely IMO of course and I'm sure others will explain in more detail :)

A046 - relates to glycan mAB FG2811 and shows that it can activate TSCMs (stem memory T cells) with the potential to use them to create TCR/CAR T therapies

A185 - seems to be a summary of Modi1's MOA

A201 - GRP78 is a heat shock protein which is linked to autophagy and highly expressed in tumours. Citrullinated GRP78 is a potential target for Moditope - is this Modi3?

A212 - relates to Moditope. Blood from cancer patients and healthy volunteers was cultured with citrullinated/homocitrullinated peptides. Difference between the 2 groups suggests regulatory T cells (Tregs) may suppress immune response in some cancer patients - may need to be inhibited.

B203 - Modi2 and homocitrullination. Worth noting the role of MDSCs (myeloid derived suppressor cells) - highly immunosuppressive cells that are associated with a very poor prognosis and 'cold tumours'. The beauty of Modi2 is that these cells express MPO which generates Isocyanic acid which diffuses into the tumour and drives homocitrullination. So Moditope cleverly exploits MDSCs.

B223 - use of PEP-FOLD3 software which uses algos to screen and select epitopes for Moditope

OT but may be of interest to some.

Just under a year ago BioNTech entered into a collaboration with Penn to develop mRNA vaccines for infectious diseases. Looks like that collaboration is starting to produce some encouraging results with their first vaccine for genital herpes. Very early days as its only been tested in animals so far but still seems pretty impressive.

' Penn has licensed certain Penn-owned intellectual property to BioNTech for development and commercialization of mRNA vaccines for infectious diseases, including IP rights related to an HSV-2 mRNA vaccine.'

https://www.pennmedicine.org/news/news-releases/2019/september/new-penn-developed-vaccine-prevents-herpes-in-mice-guinea-pigs

Close of business tomorrow I believe.

Cheslea,

I hope you mean 6.823 :)

All resolutions passed at Court Meeting and General Meeting

https://www.investegate.co.uk/amryt-pharma-plc--amyt-/rns/results-of-court-meeting-and-general-meeting/201909191330589994M/

lol, not so much really, I actually came across it on Scancell's linkedin page, think it's been there for a couple of weeks.

This may already have been posted but in case it hasn't, looks like Scancell are recruiting to beef up their admin. team - see below.

https://www.gumtree.com/p/admin-and-pa-jobs/document-manager-at-scancell/5396860795

Dracula,

'Are Vaccines being assocciated with the seemingly Increase In allergies and other afflicitions?.'

Nope - but thanks to anti-vax scaremongering children are still dying from diseases that should have been eradicated long ago.

Crumbs, thanks very much

Ivy,

Well that's back to mousegate again lol! But actually my post to Crumbs was only around preclinical development, not sure whether Crumbs was talking about moditope the vaccine or TCR.

Crumbs,

'like a say real pre-clinical validation and not in a mouse model only....'

At the risk of resurrecting mousegate, can you explain what you mean by above? Do you mean that BioNTech will be evaluating the results alongside Scancell or something different?

I don't think there ever was an official end date for the BioNTech collaboration - it will take as long as it takes. I thought LD explained well at the AGM how these things can take longer than originally estimated.

Ray makes a good point that BioNTech may well be aware of some insider info. on the science side but even if they weren't, I wouldn't expect them to be buying any Scancell stock- that's not what they're all about. They're an early stage (although huge) biotech company and that's where their focus lies, they don't have the cash, resources or strategic motivation to start buying shares or running an investment fund.

If BioNTech like the results of the collaboration then they'll make a move and it's really as simple as that. In the meantime you can't really make any judgement calls about what they are or aren't doing.

Ruck thanks very much - a very carefully crafted and timed question :)

It was no more than a suggestion. We were discussing BioNTech's interest in Moditope as a vaccine and in that context, it's what BioNTech are interested in that's important, not what LD believes.

I think LD is purely concerned with developing the most potent, efficient version of Moditope and won't get overly involved in routes to market but I wasn't suggesting for one second that LD felt an mRNA version of Moditope would be the best route to market. More importantly, I certainly wasn't suggesting that she believes an mRNA vaccine would be superior to a Modi1 vaccine, in fact I know she doesn't.

Hope that clarifies things.