Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
From the RESI Boston slides:
(i) Dr Alan Walts still involved, which in theory should aid in obtaining private equity investment.
(ii) confirmation that Andrew Wright continues financial controller; though company secretarial role has moved to Ben Harber (of Shakespeare Martineau LLP).
From the CBR patent:
(i) (and this I really like) Michael Haugbro named in the list of inventors, alongside the earlier HEMO scientists. In the HEMO 2023 video he said that he had already been able to contribute. Bait-trap technology was part of field of research at Princeton. Great addition to the team - just over two years at Hemo.
(ii) Former employees Carina Sirochinsky and Raymond Liang also named, so presumably CBR builds upon discoveries/technologies made in the development of CDX.
Yes, Hemogenyx in the top corner of first slide and he introduces Hemogenyx the company/people.
When the RESI innovator's pitch was first uncovered - you could click on the Bait Biotechnology badge and it took you to the Hemogenyx website.
A bit of an embarrassment that though really when CBR is not to be found there without digging (in the RNS's, the financial reports and a couple of the more recent media clips).
From xviolet's post it is noted that the link to Hemogenyx website has been removed from that RESI page so clicking on the badge goes nowhere. For the other pitchers clicking on their badge still takes you through to their website.
Similarly, any potential investors looking into today's commotion would have to dig deep to find CBR.
More resources needed.
So, Prevail had all the information they required to be comfortable enough making an investment at 6p.
That surely would have included funding plans (in my opinion private) to complete the Phase I trial, and probably beyond that. In their shoes, I would have been asking to see evidence of that eg letters of commitment from investors for the funding for Phase I (it could be debt or equity or a mix). I think those investors must be lined up already - though until they sign there is no guarantee.
The RNS stated Prevail will own just under 0.96% of the company once the shares are issued (that's tomorrow). To me that suggests that we will not hear of the other investors until we reach IND clearance, when the monies are required.
But the information on CBR in the Report, whilst significant, seemed a little light in detail - so like some others I too think that could be the subject of the next RNS.
Think I read somewhere when researching Prevail (so on a Prevail website/twitter page) that there investment was PART OF Hemo's PIPE Funding Round - presumably for Phase 1 CAR-T.
The Report doesn't deny or confirm that but I'm expecting further announcements when the time comes - there is an amount of shares that the can issue to which shareholders gave consent at last AGM.
Here's what FierceBiotech reported at the time of the Gilead-FortySeven deal (back in 2020):
https://www.fiercebiotech.com/biotech/gilead-strikes-4-9b-forty-seven-acquisition-paying-a-hefty-premium-for-cancer-drug
So does this suggest:
(i) CAR-T is going to be the solution rather than bi-specific antibodies as they can't seem to get antibodies to work to the required degree/specificity; and/or
(ii) CDX ab, which I think it was hoped would have multiple applications, and so similar to Magrolimab - might attract renewed interest as a potential ab to fill the 'Magromilab' space; and/or
(iii) big pharma are going to be more cautious in valuing mid-phase acquisitions, so it may be harder to get a licensing deal for either product.
I like the teaser - 'could their be renewed interest in CDX' ? - best.
It's a good job work has been continuing on it in the background - Elina mentioned CDX and it moving towards clinical trials in the 'HEMO 2023' video link I posted yesterday.
Very interesting times.
Can't grow without investment.
Future stock and dilution => we have success product development => we have successful company.
The pathway is clear; Feldmann said the science is good.
There's room to grow - plenty room and in multiple directions.
The people (below) seem to have little doubt as to why they have chosen Hemogenyx:
https://www.youtube.com/watch?v=4u9NRLi67oE
Michael Haugbro (ex Princeton):
"...decided after I graduated to join industry and at the time I found Hemogenyx and I though it was a very exciting opportunity in, really, a company that was uniquely situated to have a large impact in the immune oncology field."
Jessica Jang (ex Celgene, Cellectis):
"At Hemogenyx my current project focuses on differentiation of macrophages from either haematopoietic stem cells or blood monocytes so we can re-engineer these macrophages to express the Chimeric Bait Receptor and treat infectious diseases. The platform will hopefully allow us to expand to other diseases such as cancer and solid tumours. I am really excited about the project because I think it has the potential to be used in many different diseases, not just infectious diseases."
Ronen Ben Yehuda (Principal Scientist): (in relation to CBR, and SARS-COV-2)
"we are about to start BSL-3 facility experiments in order to test our constructs in vivo in mice and for that we will be using a live replicating virus, and as always we will share our results and news with you"
Elina Shrestha (Director of Preclinical Studies):
"..our team dynamics is incredible and this is a true reflection of Hemogenyx's core values in team building and team evolution."
......but maybe you know better.
PS: Posted the link as I couldn't see it on the company's website - video section! It was released June 2023 just prior to the AGM. Worth a listen through to the very last contribution.
Did cross my mind today whether they might release early as new share issue happening on or around 29th - and the report might need to contain the up to date numbers which would entail late changes and proofing. Maybe other news is also due that would impact interim report and disclosures. Let's see.
RESI Boston September Innovator's pitch winners:
1. Light Line
2. Able Labs (seemingly also on a disease x solution pathway)
3. Gliachem
so unfortunately HEMO or its alias Bait | 0 Technology not a winner this time (out of 52 that pitched) - but still represented and presumably gaining visibility.
Is HEMO's ladder leaning against the right wall? It seems so based on the results/advancement of others whose work also targets the FLT-3 mutation:
https://www.cancer.gov/news-events/cancer-currents-blog/2023/fda-vanflyta-aml-flt3
"As long as the person is well enough to receive the intensive chemotherapy included in the treatment, Dr. Erba said, the addition of quizartinib “should become the standard of care for patients with FLT3 ITD-positive AML.”"
- that's until HEMO CAR-T for FLT-3 (and no chemotherapy required)
Two thoughts:
(i) on that basis, those that got in on the 'unexpected' 2.5p issue of shares (at the time this 6p valuation was being determined, if that was back in January) were even smarter, or....................? We might find the 2.5p share issue to be mostly, if not all, in sticky hands and therefore not that much selling between 2.5p and 3p? Hopefully not like the 1.5p issue.
(ii) due to the delay did they get to the point that this 6p deal had to be announced now because a new valuation (including CBR progress uplift) is being determined for further new 'CBR' 'Bait| OTechnology' investors ? Or does the 6p include adjustment for CBR progress uplift - since announcement suggested agreement of terms was only reached last Friday.
Note (end of today's RNS) that the new shares are expected to be admitted on 29th September.
? is that to coincide with the date of the issue of the interims, and our next full update!?
Will that RNS contain the CBR development and in vitro testing update? Looking good to me.
Simon, that's 6p for an investor potentially based of status of HEMO-CAR-T only.
Meanwhile - Vlad's off promoting CBR to potential investors today - undercover as Bait| 0Technology! - because it's ready for new investment too!
The fountain is breaking.
Clears the way for Vlad, whilst masquerading as Bait| OTechnology next week, to discuss the current status of HEMO CAR-T with people who know of Hemogenyx and its broader pipeline/plans.
There was no need to update this at this point, maybe this is an indication of more communications as requested at the AGM. If so great. All plates still spinning - perhaps we'll get further updates on the others soon too.
This is the lab HEMO is working with on its HEMO CAR-T, targeting FLT3.
https://www.pennmedicine.org/news/news-releases/2023/august/an-immunotherapy-strategy-against-all-blood-cancers
Would this epitope editing approach seem to be a good fit for HEMO CAR-T as the FLT3 ligand is found on progenitor cells that recreate the blood, So rather than targeting and replacing all blood cells......would this type of tech adaptation in HEMO CAR-T enable a more focused solution with less adverse impact on the patient? Is anyone with scientific knowledge able to comment?
So the pitch day is Monday 18th September in person.
4 minutes pitch
8 minutes Q&A
Followed by two days for any 'interested investor' meetings (virtual it seems).
The following investor pitch webinar 11:30 (ish) to 30 minutes gives an outline of what should be included in the presenation.
https://www.youtube.com/watch?v=5Go8oyPm6wY&feature=youtu.be
Shame we can't attend - if we could, judging by the suggested content (and let's hope Vlad has paid attention), we might find out what is going on - eg next steps, competitors, differentiates, patent plans, timelines etc.
Anyway all seems positive to me. Awareness of HEMO is expanding.