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Admission will become effective and that dealings in the New Shares on the Main Market of the London Stock Exchange will commence on or around 11 April 2024.
Company will need to help the pumpers with RNS messaging now so they can all bail at 2p or above.
Wonder if they’ll pump it high enough for Warrant conversion 😁
Derisked NT to sell now. Placees trying to exit too at breakeven. Needs volume and the company needs to gain investor trust amongst the PI community. Too many locked in at the last big spike and now new holders shafted on the latest rise.
There's only Insiders and Outsiders. Us outsiders are the mushrooms - Kept in the dark fed on dung.
https://www.***************************/cizzle-biotechnology-to-raise-0.62m-for-scale-up-of-key-antibodies-and-reagents-video/4121149042
Said all along they weren't selling CDT shares at a huge loss. (Given the placing has occurred they, as in CIZ might get desperate)Those that inferred it constantly know though.
Placing is a proper slap in the dish. Typical micro cap behaviour. E3 Fund couldn't have been keen to provide the £500,000 drawdown (which was fixed at 2.1p for those suggesting it could have been less). Company said they would need at least £1million so more pain to come.
1. Why NEW antibodies ?
"The Directors believe that the new antibodies from this development programme should extend the range and proprietary rights that the Company has for detecting the CIZ1B Biomarker."
This was interims 28/09/223 - ""We have now expanded our range of specific monoclonal antibodies for CIZ1B and as recently reported we are now deploying these on a high throughput laboratory platform provided by Bio-Techne, a $12 billion market capitalised life science and biomedical research group. Bio-Techne have worked closely with Prof Coverley's research team at the University of York and, having completed a successful evaluation programme, we are now able us to accelerate our clinical trials programme, initially in the USA."
So why new antibodies? Why a new Supplier ? Are they an improvement, an addition for detecting additional cancers or have CIZ and the team found the previous monoclonal antibodies to be inadequate?
Previous cost for Monoclonal Antibody & Reagent production - £30,000
Clinical samples - £25,000
Kit development and Clinical trials - £230,000.
So is it increased costs "to enter the scale-up and manufacturing phase for the main components of the Company's proposed commercial test for CIZ1B."
That is the majority of the placing swallowed up. Minimum £285,000 - £350,000 (or even more)
2.Patent - previous costs £10,000 - So how much more to pay ? Is it a fresh application ? My view remains Patent grant is a long way off. (13month at least by USPTO or hopefully sooner for the current Application Number 18/188,958) Minimum further expenditure possibly £10,000 - £15,000. Or more ?
3. York Lab support costs - Prev expenditure £50,000 - So maybe another £50,000 - £60,000
4. Development of LDT Certified Tests - £25,000 - 2 YEARS AGO - How much still needs to be spent ? Another £25,000 - £35,000. Even more ?
5. Marketing and overheads - prev expenditure £20,000 - How much are they paying Mr BB and paying to set up the US co in Texas - Minimum £20,000 - £50,000 possibly more ?
6. Salaries - £20,000 - has that stayed the same or is there higher expenditure since 2022 ?
7. Additional research - Prev expenditure £40,000 - So how much has been spent researching the "NEW" antibodies ? Minimum £40,000 - £100,000 possibly (since 2022) ?
All in all does it really sound now like CIZ have a test ready for clinical trials or are they still developing a LDT test that actually works ?
Finally the post on another platform about insider in
Should hear from the CEO now he’s got a placing to pump.
What happened to FJB ? Need to work harder at keeping shareholders informed.
“ Company has successfully completed an antibody development programme with ProteoGenix, a France-based antibody development and production contract research organisation (CRO), with a track record in generating antibodies from development to production for therapeutic, diagnostic and research use. ”
Allan Syms, Executive Chairman of Cizzle, commented:
"We are pleased with the continued support from investors for the Placing. The net proceeds will enable the Company to enter into the manufacturing and scale up of key antibodies and reagents, that following performance testing in clinical trials are intended to become the core components of our first proposed commercial test for the CIZ1B biomarker. I look forward to providing further updates as matters progress."
Background to and reasons for the Placing
Since the release of the Company's interim results to 30 June 2023 on 28 September 2023, Cizzle has continued to make progress in the development of the Company's proprietary assay for the CIZ1B biomarker, which is highly associated with early-stage lung cancer. In particular, the Company has successfully completed an antibody development programme with ProteoGenix, a France-based antibody development and production contract research organisation (CRO), with a track record in generating antibodies from development to production for therapeutic, diagnostic and research use. The Directors believe that the new antibodies from this development programme should extend the range and proprietary rights that the Company has for detecting the CIZ1B Biomarker.
The net proceeds of the Placing will be deployed primarily to enter the scale-up and manufacturing phase for the main components of the Company's proposed commercial test for CIZ1B. Key anticipated milestones will be the production of a final antibody to accredited quality standards, other design and testing work, IP protection and progressing regulatory matters. It is currently anticipated that clinical trials of commercial grade components and ultimately the launch of the first test for CIZ1B will be in the USA. The Company will also use the net proceeds of the Placing to continue to support core research being undertaken on the Company's behalf at the University of York and for general corporate purposes.
Highlights
· Placing to raise gross proceeds of approximately £0.62 million through the issue of 31,050,000 Ordinary Shares at 2p per Ordinary Share
· The net proceeds of the Placing will be utilised towards completing the Company's first proposed commercial test to detect CIZ1B, further protect the Company's Intellectual Property (IP), progress the Company's research with the University of York and for general corporate purposes
· Upon completion of the Placing, the Company intends to terminate the £500,000 loan facility agreement with E3 Fund SP entered into on 20 September 2022. This facility has not been drawn down
If Neilin is correct and it is “Priority” then there should be an update imminently regarding the patent. 12months from submission have now passed.
A “Utility” application made in March 2023 has an average pendency of 25 months,
Application data
Application type
Utility
Examiner
MICHAEL D ALLEN
Group art unit
1642
Class/subclass
435/007.230
AIA (first inventor to file)
Yes
Entity status
Regular Undiscounted
Earliest publication #
US 2023-0266327 A1open_in_new
download
Earliest publication date
08/24/2023
MINNEAPOLIS, March 22, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced that Asuragen, part of Bio-Techne's Molecular Diagnostics Division, has completed the Class C Certification under the new European Union In Vitro Diagnostic Regulation (IVDR) for its QuantideX® qPCR BCR-ABL IS Kit. Previously, the kit was CE-IVD marked for sale in the EU in compliance with the In Vitro Diagnostic Directive (IVDD), which has now been replaced by the IVDR.
The QuantideX qPCR BCR-ABL IS Kit gives labs a robust and reliable tool for monitoring chronic myeloid leukemia (CML) patients. The highly sensitive qPCR-based in vitro diagnostic test quantifies BCR-ABL1 and ABL1 transcripts in blood samples from patients with CML to determine their response to tyrosine kinase inhibitor (TKI) therapy. CML patients must undergo regular monitoring to ensure that they continue to receive the most appropriate treatment for their cancer. The QuantideX kit allows for direct reporting on the International Scale and further streamlines the workflow with easy-to-use analysis software. Clinical lab scientists can run up to 49 samples per plate for a scalable solution.
"Bio-Techne is dedicated to quality and compliance, and we applaud this new IVDR for strengthening the safety and performance requirements for diagnostic products," said Matt McManus, President of Bio-Techne's Diagnostics & Genomics Segment. "We are proud to achieve this new certification and will continue to provide the molecular diagnostic and liquid biopsy solutions that deliver world-class performance, scalability, and reliable results for the laboratory scientists, physicians, and patients who count on us."