focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Maybe the BIO conference is also an opportune time for SAR to do the big reveal regarding 737?
SDC-1801 moving steadily through the clinic (P3)
If the Phase Ia data are positive, we believe Sareum will likely seek potential out-licensing opportunities, whereby a
prospective partner would be responsible for undertaking the next phase of clinical development as well as subsequent commercialisation.
Mark Slater, the chairman of Slater Investments, a fund manager that has a bias towards smaller listed companies, said: “The narrative around the UK is focused on FTSE 100 companies moving their listings overseas, but underneath that the market is extremely unhealthy. The small caps and Aim are being hollowed out. The market is structurally very unsound and I don’t think that’s appreciated. There’s nothing replacing these smaller companies.”
A dearth of new companies coming to the market through initial public offerings prompted a stark warning last week from Charles Hall, the head of research at Peel Hunt, another broker, that the FTSE Small Cap index, a more senior marketplace to Aim, “will cease to exist by 2028 at the current run-rate. The pace of de-equitisation is relentless and will inevitably continue, given the low valuation accorded to UK companies.”
The problem of weak valuations is behind C4X’s decision to take the company private at a meeting on Monday. Clive Dix, 69, its chief executive and the former deputy chairman of the Covid-19 vaccine taskforce, said: “We believe we should be valued at least five times, if not ten times what we are and therefore raising money at ten times the value would be much simpler. I don’t think it’s to do with the quality of the companies and the science. I just think that the environment, it doesn’t work. There’s no liquidity.”
Yet Stuttard said the wider issue of so-called de-equitisation was something facing stock markets globally. “I think one of the reasons it’s probably more visible at the moment is because markets are not having the same level of top up of new companies coming through.” He added, however, that the “pipeline of initial public offerings is picking up”. Indeed, Helix Exploration and European Green Transition both joined Aim this week and their share prices have risen. Stuttard also noted that 37 per cent of all equity capital raised in European Union growth markets in 2023 had been raised on Aim.
Despite his confidence, he wants to see pension funds and other big institutional investors start taking on more risk again. The biotechnology sector is particularly exposed to the lack of appetite for risk, an issue that, according to Dix, has meant Aim has “just never ever worked as the place for growth biotech companies that are very cash-hungry in their early days”.
Despite striking three big deals with leading pharmaceuticals companies, including AstraZeneca, Britain’s biggest drugs group, C4X shares are down more than 90 per cent since they were listed ten years ago, valuing the company below £23 million. Similarly, shares in Redx, a cancer drug developer, are down by more than 90 per cent from their 2015 listing, despite establishing four “major” partnering deals over the past five years.
Daniel Nickols, an investment manager focused on UK small and mid-cap equities at Jupiter Asset Management, said regulators, policymakers and
London’s Alternative Investment Market may not generally command the attention of its bigger sibling, the main market of the London Stock Exchange, but all eyes will be on Aim next week. Three companies are looking to delist from the junior market and their plans are being put to investors in a series of shareholder votes.
Significantly, two involve a pair of Britain’s leading biotechnology players. Both C4X Discovery and Redx Pharma believe that they can raise more money as private companies.
Their decisions to quit Aim would be notable enough in themselves, but they have shone a spotlight on structural weaknesses in the small-cap market and have rung alarm bells about a broader malaise. Suddenly, concerns have switched from the recent flight of big listed companies towards the New York Stock Exchange, including the likes of Flutter Entertainment, the owner of Paddy Power, and CRH, the building materials supplier, and to what one leading fund manager has called the “hollowing out” of the junior market.
The number of companies listed on Aim, which turns 30 next year, has more than halved from a high of 1,694 in 2007 to 753 last year, the lowest level since 2002, according to stock exchange figures. The total is set shrink further, with others planning to delist includinge-therapeutics (which plans to raise £28.9 million from its two main shareholders and to explore listing on New York’s Nasdaq exchange), Byotrol (a maker of hand sanitiser) and Molecular Energies (citing the “current dysfunction of the London markets with regard to small/micro-cap companies”). LoopUp, the video conferencing software specialist, delisted yesterday. And there may be more to come. One well-placed source said: “There are others looking at it. I’m aware of at least four others.”
The problems are faced across sectors, according to Dan Mahony, chairman of the UK’s BioIndustry Association, the trade body, who was appointed as the government’s life sciences investment envoy in 2022. “It’s a problem generally,” he said, exacerbated in life sciences “because the requirement of capital is so high”……
Https://markets.ft.com/data/equities/tearsheet/forecasts?s=SAR:LSE
Share price forecast in GBX
The one analyst offering a 12 month price target expects Sareum Holdings Plc share price to rise to 176.00 in the next year from the last price of 17.00
Taken from the recent MarketWatch article: The British pharmaceutical giant said Tuesday that the deal to buy San Francisco and London-based Aiolos Bio, which focuses on patients with respiratory and inflammatory conditions, includes a Phase 2-ready antibody called AIO-001 for the treatment of adult patients with certain respiratory and inflammatory conditions.
Article in today’s Times:
The pharmaceuticals giant GSK is set for a multibillion-pound buying spree of respiratory businesses as it seeks to reassure investors about its lacklustre pipeline, according to the man many see as heir to the chief executive’s throne. Luke Miels, chief commercial officer, said that over the next six months, GSK would be concentrating on deals worth about $2 billion (£1.6 billion). Its priority will be buying businesses with respiratory and auto-immune treatments to bolster its medicine cabinet. GSK, headed by Dame Emma Walmsley, has long been trying to assuage investor fears about its pipeline, which some believe does not have enough exciting cures to replace revenues that will be lost as some of its best-selling treatments come off patent later in the decade. GSK, headed by Dame Emma Walmsley, has long been trying to assuage investor fears about its pipeline, which some believe does not have enough exciting cures to replace revenues that will be lost as some of its best-selling treatments come off patent later in the decade. Miels ruled out deals in the “tens of billions” of dollars and said GSK was more focused on “very targeted single products or two products in a company”. He added: “I think top priority is respiratory and auto-immune, [but]… we’re very busy across the board.” Since taking office, Walmsley has also boosted research and development spending by 40 per cent to bolster the drug pipeline. Among the drugs in stage three trials is the asthma treatment depemokimab, which the company hopes will bring in £3 billion of sales in peak years.
Merry Christmas
The transformation from zero to hero was so quick, one needed physical therapy for whiplash. In less than four months, we went from very challenged financing to highly celebrated acquisition. Our industry is in a tough spot right now, one of the toughest since the financial crisis of ’08-’09 (when Nimbus was founded, incidentally). Despite this pressure, a few truths stood out then as they do today: pull together as a team, focus on the fundamental science, put the patients need first, remain strong, and figure out a way to fund it. Play the long game and believe in your mission: – for those that do, despite the crowd saying otherwise, I say to you: grit your teeth, keep calm, and science on.
Brief summary SDC-1801 is a small molecule tyrosine kinase 2 (TYK2)/janus kinase 1 (JAK1) inhibitor entering clinical development for the treatment of participants with inflammatory diseases such as psoriasis. The nonclinical good laboratory practice (GLP) toxicology and safety pharmacology studies indicate that it is appropriate to cautiously assess the safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of SDC-1801 in the context of a well-designed, first-in-human (FIH) study.
It is reasonable to say that the risk of adverse events (AEs) for JAK inhibitors are broadly similar to those for other biological disease modifying antirheumatic drug (bDMARD) classes. However, concealed within this, there are also important differences between JAK inhibitors and bDMARDs. Tofacitinib and baricitinib have AE profile characteristics that distinguish them from the other bDMARD classes, with signals including an increased risk of herpes zoster reactivation, elevation in lipids, and decreases in haemoglobin and lymphocytes (including natural killer cells).
Based on available nonclinical data, SDC-1801 is a potent and selective small molecule TYK2/JAK1 inhibitor currently in development for inflammatory and autoimmune indications, and it has the potential to have an improved safety profile and similar efficacy profile compared with other JAK inhibitors and specific TYK2 inhibitors.
Abcam, which has been under pressure from activist shareholders to sell itself, said in a separate statement that it had engaged with 20 potential buyers before the deal with Danaher was finalized. Reuters reported on Friday that Danaher was in the lead…..
Dear Libarahen, Many thanks for your message. It is with great sadness that we learn of Thoth's passing. Although many may have suspected this it is still a shock. On the site, he was everyone's resident expert! He sustained many Sareum shareholders on the chat with well-informed, balanced and often witty comments. For the majority of long-term holders on the site, his presence and reassurances were critical to our continued investment. He made us all believe and without him, I for one would have jumped ship many years ago. Having lost a close relative very recently I am always lifted when I hear a shared message from a close friend retelling how a person did this or that and was so fondly cherished and missed. Please pass on all our condolences to his family and try to explain, that Thoth was a pivotal, well-respected and extremely significant part of this funny community on this site. His expert mutterings have and will continue to be greatly missed. Best regards.
Dear Libarahen, Many thanks for your message. It is with great sadness that we learn of Thoth's passing. Allow many may have suspected this it is still a shock. On the site, he was everyone's resident expert! He sustained many Sareum shareholders on the chat with well-informed, balanced and often witty comments. For the majority of long-term holders on the site, his presence and reassurances were critical to our continued investment. He made us all believe and without him, I for one would have jumped ship many years ago. Having lost a close relative very recently I am always lifted when I hear a shared message from a close friend retelling how a person did this or that and was so fondly cherished and missed. Please pass on all our condolences to his family and try to explain, that Thoth was a pivotal, well-respected and extremely significant part of this funny community on this site. His expert mutterings have and will continue to be greatly missed. Best regards.
Highlightll Pharmaceutical TLL-018 Achieved Breakthrough Results in a Phase II Trial for Rheumatoid Arthritis
January 29,2023 From:Highlightll Pharmaceutical
We are pleased to announce that TLL-018, the world's first highly selective dual TYK2/JAK1 inhibitor, has reached the intended endpoint in a Phase II clinical trial in patients with active rheumatoid arthritis conducted by 15 clinical centers across China and led by Professor Xiaofeng Zeng of Peking Union Medical Hospital, Chinese Academy of Medical Sciences. This study is a randomized, double-blind, head-to-head comparison with tofacitinib. The primary endpoint is the proportion of
patients with ACR50* after 12 weeks of treatment. The results showed that after 12 weeks of treatment, the ACR50 rates in the high, middle, and low dose groups of TLL-018 were higher than that in the tofacitinib group, and the efficacy improvements in the middle and high dose groups over tofacitinib reached statistical significance. Safety was similar across the four groups in this short study. Detailed data will be presented at an international scientific
conference soon.
Professor Zeng commented that this study used a bold and innovative design. Traditionally, csDMARDs* or placebo is used as control and ACR20* as the primary endpoint. This study used tofacitinib as the positive control and a higher standard of efficacy ACR50 as the primary endpoint, which showed Highlightll's confidence in the drug. The preliminary results of the study suggest that the dual TYK2/JAK1 inhibitor TLL-018 may have efficacy advantages over tofacitinib. We look forward to confirming the efficacy and safety of TLL-018 in a large phase IlI trial, providing a
good option for patients with rheumatoid arthritis. Highlightll is communicating with the Center for Drug Evaluation (CDE) of the National Medical Products Administration in China to conduct Phase III registration
studies. Hangzhou Highlight Pharmaceutical Co., Ltd. is an innovative drug development company focusing on the research and development of small molecules for the
treatment of autoimmune/inflammatory diseases and central nervous system diseases. The company's leading project, a TYK2/JAK1 dual inhibitor, is being studies in multiple clinical trials in China and US. The company is headquartered in Hangzhou,
with branches in Beijing, Shanghai and Wuhan and a subsidiary in New Jersey, USA. "ACR20 and ACR50 are the rheumatoid arthritis disease scoring standards developed by the American College of Rheumatology, which indicate a disease improvement of more than 20% or 50%, respectively. *esDMARDs is conventional
synthetic disease-modifying antirheumatic drugs.
Albert Bourla, chairman and chief executive of Pfizer, said: “Pfizer is deploying its financial resources to advance the battle against cancer, a leading cause of death worldwide with a significant impact on public health. Together, Pfizer and Seagen seek to accelerate the next generation of cancer breakthroughs and bring new solutions to patients by combining the power of Seagen’s antibody-drug conjugate technology with the scale and strength of Pfizer’s capabilities and expertise.
“Oncology continues to be the largest growth driver in global medicine and this acquisition will enhance Pfizer’s position in this important space and contribute meaningfully to the achievement of Pfizer’s near and long-term financial goals.”
BIA - Joined up thinking for data access
10:00 - 17:00, 28 Feb 23
Collaborations across industry, charity and NHS to support cutting edge R&D
The BIA, AMRC and LifeArc are delighted to announce a joint event on collaborating for data access, taking a cross-sector view of the current challenges faced, and highlighting successful case studies to enable a more joined up approach to data access for R&D in the UK. We aim to:
Bring together industry, charity and healthcare leadership to improve cross-sector understanding
Highlight examples of successful cross-sector data collaborations
Discuss further opportunities to address challenges
There will also be opportunities to network during and after the event over refreshments.
Attendance is by invitation only. There’s no trade show floor. And, good luck tracking down information on speakers and schedules if you’re not invited — a public website for the event doesn’t even exist. Safe to say, this is not your typical conference or trade show.
The J.P. Morgan Healthcare Conference, to be held January 13-16, 2020, continues to be one of the life science industry’s largest and most frenzied conferences of the year. It reliably draws thousands of investors and executives across the healthcare sector to the Westin St. Francis Hotel in San Francisco as hundreds of companies present their latest innovations and dreams in an attempt to pique the interest of venture capitalists and potential partners.
Following long days of sessions and side meetings are lively evenings of ****tail parties and networking events. High energy is a must, and business card supplies dwindle quickly.
Now in its 38th year, the J.P. Morgan Healthcare Conference has become a spectacle — a far cry from the boutique event it once was. Forbes contributor Joon Yun last year likened the event to Burning Man, another under-the-radar meet-up that has become mainstream. “Those who have been to both agree Burning Man is the lesser fire hazard,” the physician-investor remarked in his 2013 column.
Indeed, for one week in January will literally overflow with attendees and wannabe attendees. In addition to J.P. Morgan, other events including the Biotech Showcase, OneMedForum and RESI Conference have popped up to capitalize on the high density of biotech brainpower.
So is J.P. Morgan really worth all the fuss? Is it worth the effort of making the trip, navigating the crowds and painstakingly trying to connect with the folks that matter while avoiding the hangers-on? The answer is yes. It’s worth all of those things because so many of the people who matter to healthcare are there — some with tickets, some without. Deals happen unexpectedly and new business connections surface in the coffee shops, bars and diners of San Francisco. J.P. Morgan may be a madhouse, but it’s a productive madhouse.
If you can’t attend, we highly recommend that you soak up the event from afar through the many webcasts and updates on Twitter. But we’re a strong believer that nothing beats being there in the thick of the action.
If you’re like us and plan to make this biotech pilgrimage, here are a few things you need to know:
Even though the J.P. Morgan Healthcare Conference is an invite-only event, tickets aren’t necessary to make your trip a valuable one. You can definitely fill your schedule with worthwhile meetings and parties without officially attending the conference.
LinkedIn and Twitter are great places to network your way to a face-to-face meeting.
Good luck, have fun and get some deals done.
https://cglife.com/blog/jp-morgan-healthcare-conference-worth-fuss/
Interesting article in today’s news paper comparing AZ’s and GSK growth. Essentially growth in AZ attributed to oncology cancer drugs:
Oncology is one of AstraZeneca’s most important therapy areas and it has been the foundation of the turnaround in the group’s drugs pipeline, balance sheet and share price over the past decade under Pascal Soriot, the chief executive. Last month AstraZeneca reported product sales of $21.6 billion in the first half of the year, up 47 per cent year-on-year. Oncology accounted for almost $7.1 billion of those sales, a growth of 18 per cent.
The company has become a household name through its work on the Covid-19 vaccine with Oxford University. Its success has turned the Anglo-Swedish drugs group, which is based in Cambridge, into one of the most valuable companies on the FTSE 100 share index and has propelled it ahead of GSK, Britain’s other big pharmaceuticals group.
Is Tim’s description of the Biotrinity presentation as a ‘Company Showcase’ significant?
Molnupiravir: Doubts grow over efficacy of antiviral pill to treat Covid. “The initial results for Molnupiravir looked promising when first approved in the UK However, there has been an unexplained loss of clinical efficacy in more recent clinical trial analyses,” he said. Martin Landray, who runs the NHS Recovery trial into Covid therapeutics, said that the new data meant that molnupiravir was less of a “slam dunk” than had been thought, but it still showed a lot of potential. He called for the release of the full trial data so they could better understand the drop in efficacy.