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Genflow's science page needs an update based on recent developments.

While the main "Science" landing page on the website emphasizes AAV (the delivery method for their lead candidates like GF-1002), Genflow has formally disclosed two other critical delivery mechanisms through RNS announcements, grant details, and partnership updates:

1. Exosomes (Encapsulation and Transport)

In January 2024, Genflow announced a major 3-year scientific program in collaboration with EXO Biologics. This program is specifically designed to explore a non-viral way to deliver the SIRT6 gene.

The Mechanism: Using exosomes (extracellular vesicles) to encapsulate and transport SIRT6.

The Purpose: This is intended for specific conditions where AAV might not be the ideal vehicle, such as Werner Syndrome and Sarcopenia (age-related muscle loss).

Recent Update: As of June 2024, Genflow received the first tranche of a €1.55 million grant from the Walloon government specifically to advance this exosome-based therapy.

2. Lipid Nanoparticles (LNP) / mRNA Delivery

In early 2025 and reaffirmed in their January 2026 update, Genflow disclosed a shift toward RNA-based delivery for their ophthalmology (glaucoma) program.

The Mechanism: Instead of using a viral vector (AAV) to deliver DNA, they are using Lipid Nanoparticles (LNPs) to deliver mRNA encoding for the SIRT6 centenarian variant.

Why this matters: LNP delivery is often considered safer for repeat dosing and easier to manufacture at scale than AAV. In their attendance at the J.P. Morgan Healthcare Conference (January 2026), Genflow explicitly stated they were seeking partners specifically for their "LNP delivery for mRNA SIRT6 therapeutics."

3. Topical Delivery (GF-3001)

Though less discussed than the systemic treatments, the company’s internal pipeline documents have listed GF-3001, which is a topical formulation of SIRT6 designed for delivery to the skin (dermal fibroblasts).

The reason you see only AAV on the main science page is that GF-1002 (the AAV-based candidate) is their "Lead Compound" and the furthest along in clinical readiness. However, the "Blue Sky" value —the platform potential — lives in these non-viral (Exosome/LNP) mechanisms because they are the key to high-frequency, repeatable dosing that Big Pharma prefers for chronic aging conditions.

Steg

I suspect there will be several financial stages to this.

1. Animal health partner(s)

Large mammal health may be divided into pets and agriculture markets. There is opportunity for more than one partnership raising anything from £10 - £30m plus royalties

2. First human Therapeutic Area - it's possible there will be a MASH specific deal with a company active in that area. A partnership based on Phase 1/2 data could generate £50-£100m plus royalties, or an early offer that would be a multiple of that.

3. Multi therapeutic area complete buyout

Pick a number. If it works, ie has a simple delivery mechanism, is safe and effective then the price could be anything.

I also asked AI and this was their response for buyout stage valuations:

Early Acquisition Positive Dog Data + MASH IND Approval. £100M - £300M

Late Acquisition Human Phase 2a "Proof of Concept" in MASH. £500M - £1B+

Platform Buyout Efficacy shown in 2+ human TAs (e.g., Liver + Eye). Multi-Billion (e.g., Avidity/Verona deals)

Whoever it is they are still going. Those two big delayed sells almost perfectly match the buys of the day up to that point.

A lot of the data only gets updated infrequently, it already likely does not represent the current position. The fact ii is not called out separately to abrdn probably means that it's all rolled up under the one banner, but doubtful that ii individual investors account for 11%, but do seem very likely to be some of it.

Just to add it's likely that Swann's January purchase was an offbooks crossing trade with a chunk from abrdn which is why the price didn't jump at the time. At some point we should get a TR1 if or rather when whoever it is that's selling crosses 3%. The fact we haven't seen one yet means they are likely not finished. That's why it's more likely abrdn, if Miton had been selling this heavily their smaller chunk would have crossed 3% already and we would know about it.

Of course it could be more than one seller, but it's impossible to tell.

Moneymunch - it's hard to tell exactly, but the raw data source for the 54M share figure (roughly 11%) was the baseline position reported by institutional data aggregators like Simply Wall St, which pulls its data from S&P Global Market Intelligence.

As of early 2026, Genflow’s institutional ownership was listed at 35.1% (~173M shares).

Within that 173M shares, abrdn was identified as the largest institutional block, holding the position through their Diversified Income and Growth and small-cap portfolios.

https://simplywall.st/stocks/gb/pharmaceuticals-biotech/lse-genf/genflow-biosciences-shares/ownership?hl=en-GB

The identification of abrdn as the seller (rather than just an owner) is derived from their own corporate announcements.

​January 8, 2026 RNS: abrdn Diversified Income and Growth confirmed they have been engaged in a "managed wind-down" and have completed secondary sales of various private market and fund investments.

​abrdn has been systematically exiting sub-£50M market cap positions in the UK to return capital to their own shareholders. Genflow, with its small market cap and previous illiquidity, is a prime candidate for this type of exit.

General public is listed as 80.5m shares or 16.3%.

Obviously businesses like ii and HL blur boundaries between funds and private holders in stock accounts, by directionally it seems about right.

It's my conclusion based on the trade patterns and some market knowledge.

The primary candidate for the current "overhang" is abrdn Plc.

As of December 2025, abrdn held 54,066,067 shares (approx. 11% of the company).

abrdn has been a forced seller across the UK micro-cap space for the last 24 months due to fund outflows and a strategic shift away from illiquid AIM/Standard listed biotechs.

Fund outflows force them to scale down their holdings regardless of potential.

Premier Miton is the second-most likely candidate.

They recently held 15,147,262 shares (approx. 3.1%–4.3%).

Miton is known for "cleaning up" registers. When a small-cap biotech like Genflow hits a flurry of news (Oxford, Dog results, March 2nd Meeting), they often use that heightened liquidity to exit a position that no longer fits their fund's size requirements.

It seems counter-intuitive to sell when the news is good, but for an institution, it’s a liquidity window.

If an institution wants to sell 10M shares on a "quiet" day, they would crash the price by 30%.

However when Dr. Leire speaks at Oxford or releases dog data, retail "buy" volume spikes. The institution uses this spike to sell their shares into the buying pressure, allowing them to exit at a stable price without causing a panic.

For a fund like abrdn, a £1M holding in Genflow is a "rounding error" that costs more in administrative fees to track than it is worth in potential gains. They often sell "at any price" once a decision to exit a sector has been made.

The good news is that this creates liquidity and keeps the price low for retail investors.

Short term: Unknown overhang keeps price pinned ~2p until rerating catalyst blows it away.

Medium term: Animal health partner investment re rates the valuation to 2-3x today's price based on cash alone. License plus royalty income.

Longer term: I'd suspect once human trials are imminent we will see a move to the NASDAQ and a second rerating. 5-10x current price.

Exit strategy: Acquisition by big pharma with Phase 1 safety and early efficacy in the bag. 10-25x current price, depending on results possibly even higher.

That roadmap is why Berdugo is Chairman.

For transparency I have a lot of shares (in my world anyway!) here now, buying based on extensive research in the underlying technology of GENF and also the market opportunity. I intend to hold for full value realisation.

Following the Oxford talk, much of the chatter has been on SIRT6 efficacy. However, the real "under-the-radar" catalyst is Genflow’s rapid advancement into LNP (Lipid Nanoparticle) delivery. For those valuing the company, this isn't just a technical change—it’s a move from a "Single-Drug" risk profile to a "Platform Ownership" profile.

1. Why LNP Changes the Financial Game

Repeatability = Higher TAM: Unlike the AAV vectors used in the dog trials (which are generally one-time doses due to immune response), LNPs allow for chronic, repeat dosing. For a disease like MASH (liver) or Glaucoma, the ability to dose every few months turns a "cure" into a "management" revenue stream—a far more attractive model for Big Pharma.

Cost of Goods (COGS): AAV manufacturing is notoriously slow and expensive. LNPs are chemically synthesized, scalable, and significantly cheaper to produce. This improves the Net Present Value (NPV) of the human pipeline (GF-1002) by a massive margin.

2. Evidence of Success: The "Berdugo" Hire

The strongest evidence of the LNP pivot’s progress is the appointment of Gad Berdugo as Chairman (Jan 2026).

The "Tell": Berdugo is a US-based RNA-LNP specialist (ex-Nutcracker Therapeutics/Editas). You don't hire a heavyweight Chairman with specific LNP manufacturing expertise unless the technology is ready for U.S. clinical entry and partnering.

Progress: The company has officially confirmed it is now finalizing an IND-enabling package that includes an LNP/mRNA alternative for MASH. This optionality is a major negotiating chip for the "Harvesting" deals Leire mentioned in his latest video.

3. Differentiation: The "Centenarian Advantage"

While many firms (e.g., Moderna, Alnylam) have LNP tech, Genflow is the only one wrapping a centenarian SIRT6 variant in it.

Precision Targeting: GENF’s LNPs are being optimized for Liver (MASH) and Ophthalmic (Glaucoma) delivery. In Glaucoma specifically, GENF’s preclinical data suggests their LNP-delivered SIRT6 can protect retinal ganglion cells—shifting the treatment from "pressure management" to "true neuroprotection."

Investor Takeaway

The market currently values GENF as a micro-cap research firm. However, as they finalize the selection of a leading LNP partner (as stated in their Jan 28th update), they are transitioning into a Technology Platform. Analyst View: In the current M&A environment, "Platform" companies are acquired for their delivery systems as much as their drugs. The LNP status is the bridge that takes Genflow from a London micro-cap to a Nasdaq-grade IP play.

Following Dr. Eric Leire’s presentation at the Oxford Society of Ageing and Longevity last night, it is becoming increasingly clear that the market is mispricing Genflow by treating it as a "single-asset" dog-aging company.

From a fundamental valuation perspective, there are two distinct "Value Pillars" that were reinforced at Oxford which suggest a significant re-rating is overdue:

Pillar 1: The "Centenarian" SIRT6 IP (The Payload)

The Moat: Genflow isn't just delivering "wild-type" SIRT6. They are delivering a specific centenarian variant protected under Patent EP4338267. As discussed at Oxford, this variant has shown superior efficiency in double-strand DNA repair and genomic stability compared to standard variants.

Market Impact: By targeting the "Master Regulator" of aging, GENF is positioning itself not just for longevity, but for MASH (liver), Glaucoma, and Sarcopenia. In an M&A scenario, Big Pharma buys the gene, not just the trial. This IP alone represents a "Sum-of-the-Parts" value far north of the current market cap.

Pillar 2: The LNP Delivery Pivot (The OS)

The Strategy: While the canine trials utilize AAV vectors, the Oxford session highlighted the move toward Lipid Nanoparticle (LNP) delivery for human mRNA therapeutics.

Strategic Value: LNPs allow for repeat dosing and significantly lower manufacturing costs (COGS) compared to viral vectors. By owning/optimizing an LNP delivery mechanism for SIRT6, Genflow is moving from being a "Drug Developer" to a "Platform Play."

*Note: History shows that "Platform" biotechs command much higher multiples than "Product" biotechs because the delivery system can be licensed out to multiple partners for different indications.

The "Value Gap" Conclusion

The current share price (~1.9p) is being held down by the anticipated technicalities of the March 2nd General Meeting and the clearing of a legacy institutional seller. However, the Oxford talk confirmed that the Scientific Floor is significantly higher than the Market Price.

The Bottom Line: If the March 2nd "Strategic Shield" (the 188M share authority) is indeed the precursor to a strategic partnership—as Leire’s "Harvesting" comments suggest—the current entry price represents a rare opportunity to front-run a structural re-valuation of their LNP/SIRT6 platform.

Still a seller on the books soaking up any buys. I've bought some more again and will keep doing as money becomes available. At the current price this discounts any partnerships or clinical success, both of which givemn the early read out seem very unlikely not to materialise.

Two of my three trades today are still not showing on the list which is interesting, and one that is that was a buy was just below mid so looks like a sell.

Those two big trades that were delayed look like buys also given the spread and so at the time. Very strange.

You mentioned their name... 🙄

I just bought some more, this seller is creating a one time opportunity so filling my boots. Totally irrational sale and against all common sense, that's analyst driven funds for you!

So reading the trades today it seems fairly obvious that an institutional holder, maybe Premier Miton given their smaller companies change in management team and strategy, has been waiting for the news to break to offload their holding.

They sold down from 9 to 4% last January and maybe are taking this chance to sell off their remaining 15m if they regard this as non core. If they are then we should see a TR1 in the next day or two.

Once that overhang is cleared we should see some sense return to the market reaction given the excellent news.

Disappointing day but not reflective of the wider 2026 picture.

There are so many open scenarios now it is a really hard to call what next.

There is a large defensive barrier to a cheap take out, Eric himself chief in that. They will absolutely get polite enquiries but full value here is not even suspected yet.

The animal study full results with methylation clock and grim age in 2 months time.

The fund raise where it's a placement with preemption not an open offer.

An animal health partnership will land in the next few days or weeks, probably before March 2nd

I strongly suspect big pharma interest too. The opportunity to accelerate this way over and above MASH and glaucoma will be way too tempting. In bound therapeutic area interest is inevitable.

Flipping to dual listing on the NASDAQ with Berdugo leading the charge. On the US market this would now be flying well above $100m, even more on today's news.

Hilarious there are sellers today. I mean seriously, what on earth are you thinking? A vaccine against age has topped out in value at £10m? You're having a laugh!

I don't think consolidation is the answer. There aren't that many shares, and the valuation of the asset could take it well away from the bottom end of the penny share range. Would you be happier if it was 50 or 60p a share? I'm not one for making outlandish predictions, but you don't need too much imagination to think this could easily turn into a multi billion asset.

The value of what they have here is phenomenal and possibly a generational breakthrough.

Do we all understand they have effectively shown a working vaccine for age? That it works on multiple possible indications?

One other thing, the iis anticipating being able to subscribe for the offer may turn out to be disappointed. I suspect that some or even most of those shares will be placed with a new partner and definitely not an open offer.

Wait too long and iis may be left in an Oliver Twist moment:

'Please Sir, can I have some more?'

I just bought some more, very overweight on this now, but not even slightly worried.

The majority of outstanding warrants, 40m, are not at 2p, they are at 1.1p, and mostly held by Dr Leire.

Not sure they are particularly relevant today.

I guess the price is sticky because iis are anticipating being able to subscribe to the offer in March rather than chase the price today. The thing is, while there may be an expectation that the vwap will stick around 2p, retail may push it significantly higher.

The raise RNS has ironically held the rise today back.

Also pity the poor market makers going into this morning short of stock. For their sake they need to capitulate with the price massively and quickly as who in their right mind would be selling now?

The equity release yesterday was widely misinterpreted, it was not about dilution, it was validation. The fact it's going to be at market price with no discount was the clue. It was about getting ready for inbound interest.