Member Info for biffbaffboff

"What I can categorically tell you is that it doesn’t take any more than a few weeks (most likely days) to formulate a valuation and bid."

Oh my!

"I wonder if the value of the P140 drugs can best be estimated if they are separated from the other diseases and valued on the basis of each cure, and then value each additional disease year by year, disease by disease?"

I was thinking along the same lines only yesterday. Ten common autoimmune diseases include:

Rheumatoid Arthritis

Lupus

Multiple Sclerosis (MS)

Type 1 Diabetes

Hashimoto's Thyroiditis

Graves' Disease

Celiac Disease

Inflammatory Bowel Disease (Crohn's/Ulcerative Colitis)

Psoriasis

Sjögren's Syndrome

- all conditions where the immune system mistakenly attacks the body's own tissues, causing inflammation and damage.

How much is each industry worth alone, and if P140 can have some benefit there, well....

AI:

"The global autoimmune disease therapeutics market is estimated to be worth approximately $156 billion to $170 billion in 2025. The industry is experiencing significant growth, with projections suggesting the market for therapeutics could reach $262 billion to $289 billion by 2033-2035.

In addition to treatments, the specialized autoimmune disease diagnostics market was valued at roughly $5.5 billion to $6 billion in 2025, with forecasts projecting it to reach nearly $9 billion to $10 billion by 2031-2033."

Don't invest then.

3rd December RNS:

"PSE test sales in the US and to private healthcare in the UK have continued to increase, with six successive record months reported from June to November 2025."

Small steps but progress none the less.

One of my other Biotechnology companies is presenting at the Precision Medicine World Conference (PMWC) 2026 in Silicon Valley. Wonder if IBAI has also got plans to attend is some capacity?

Potentially, if in the longer term less money is spent on unnecessary operations due to higher accuracy testing. Doesn't have to be "mass screening" though. Just looking at what the NHS wastes each year, some of which could be saved due to higher accuracy testing. There is also a large market outside of the NHS.

"As far as I'm concerned Avion should have no input whatsoever"

I'd love that to be true, but I'm preparing for the worst and hoping for the best.

I didn't say Avion "own" part of the P140 platform, but I am sure lawyers are pouring over the terms of the agreement. I've made myself clear in the past on my expectations here.

"Avion will also have the right to explore clinical development for other auto-immune indications within

US territories."

Estimates suggest around 5,000 men per year receive surgery or treatment they do not need. With radical prostatectomy costs estimated between £20,000 and £30,000 per patient, this represents a potential waste of over £100 million annually in unnecessary procedures.

The average NHS payout for a cancer misdiagnosis is between £60,000 and £120,000 per case. In 2024/25, total clinical negligence payouts for failure or delay in diagnosis reached £391 million across all conditions.

False negatives lead to cancers being caught later, when they are metastatic. Treating advanced prostate cancer is significantly more expensive. Experts estimate that more than one-third of the total £93 million annual prostate cancer treatment budget could be avoided through earlier, more accurate diagnosis.

Standard biopsies can have a false negative rate of up to 45%. Each biopsy costs the NHS approximately £450, and missing the cancer often leads to repeated, expensive testing cycles.

Do the maths.

Bear in mind that Avion will want a cut of anything. Any idea what the size of the non US market is compared with the US? 30%/70%?

What's everybody's thought on possible overhang of shares still being sold keeping SP down. 2.3b shares are a lot.

Bonneville, you're making assumptions that Avion aren't inclined to to fund any trials right now.

"Biff. Except that Avion have not shown any inclination to fund any trials have they? They could do that now"

Bonneville, except they have. There was the initial PK trial which resulted in the positive FDA response. There was the plan for the Phase 2/3 trial and then the Phase 3 trial direct, where Simbec-Orion were appointed as CRO...and then we had the "Breakthrough Findings into Autoimmune Diseases" RNS which seems to have changed the landscape.

Also a Director at Braveheart

"A pharma might stump up say £50 million to pay for P3 in exchange for half the company..."

Not sure why this would be a deal worth considering, as Avion are already funding any trials (up to £25m?). IMO Avion are also at the negotiating table.

Wonder why the RNS isn't showing up on here? Doesn't help. For those that have missed it:

Https://www.londonstockexchange.com/news-article/IBAI/update-and-ib-nimble-webinar-27-february-2026/17455454

I thought we started somewhere, years ago. When will this start start?

Many thanks Tyke. Hopefully it's made TB and co more aware of how frustrated some of us are, and going forward we will get a bit more updates and a roadmap.

The global Organ-on-a-chip market size was estimated at USD 157.3 million in 2024 and is projected to reach USD 952.4 million by 2030. CN Bio seems to be the big UK company with recent investments totalling $21m. With the likely future of animal testing being phased out, this could be something to be in, along side the current imaging side. Hopefully they can better concentrate on the core businesses.

My thoughts too, they haven't been able to bring IBAI into profit for years.

OK, two things:

1. If further clinical trials of gallium maltolate in adults " is no longer in shareholders' interests", then doesn't that beg the question that the same trial in Pediatric Patients would also likely fail? Or if it hasn't failed, why are we not involved in the latter and giving up on the former? As previously mentioned, we need more info.

2. A question I ask myself is the £170,000 question of why is Kirkstall only worth this, if it's in the top 10 of the "organ on a chip" market, and my only answer is that it's a new industry and has only been sold by scientists to academics in the UK. Can IBAI widen it's market?