AGM Update19 Jun 2019 16:53
Per waterloo01 from the other board:
Quick AGM update.
Lots of talk about the different approach to antibiotics, in going for both superiority and presenting the economic case. Many of the recent failures in the space have a lot to do with the fact most are going for equivalence/me too products.
There are only 8 antibiotics currently in phase 1-3 that are new mechanism if actions, RDZ being one of them
Are about 100 sites currently open (Clinical trials lists 2 but apparently is out of date). Results still planned mid 2021.
Barda relationship is good and possibility of some more from them but there is a funding gap which is estimated to be between $60m and $100m over 2 years.
Most likely this will be raised from equity and one has the feeling they have somethings lined up. Stressed point that last placing was at a premium, so hopefully that's repeated. Dungan continues to be supportive and likely to come in on any further raises.
Push and pull incentives are important, but because of their approach (superiority)they will build an economic case regardless. However the current bill going through US congress (Disarm) could make a massive difference as will pay hospital 102% of the cost of the drug (are other initiatives ongoing as well). Might this be the thing that will change the whole investment environment?
Still suggesting market could be worth $1bn US alone (they want to keep US rights but might other geographies be part of any funding?) and if adopted RDZ should save hospitals $3 bn a year.
Other antibiotics all going to plan.
So in short, an exciting future but further funding needed, but the end prize remains significant and ever more so as and when the investing community start to reinvest in the area (and Disarm act might be the thing that makes the difference here).
More if I remember. Good to meet the other investors.
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