Member Info for W13Ken

It contains a good summary of the main clinical programs...

"4D pharma's Live Biotherapeutic products (LBPs) are orally delivered single strains of bacteria that are naturally found in the healthy human gut.?The Company has five clinical programs, namely a Phase I/II study of MRx0518 in combination with KEYTRUDA (pembrolizumab) in solid tumors, a Phase I study of MRx0518 in a neoadjuvant setting for patients with solid tumors, a Phase I study of MRx0518 in patients with pancreatic cancer, a Phase I/II study of MRx-4DP0004 in asthma, and Blautix® in Irritable Bowel Syndrome (IBS) which has completed a successful Phase II trial. Preclinical-stage programs include candidates for CNS disease such as Parkinson's disease and other neurodegenerative conditions. The Company has a research collaboration with MSD, a tradename of Merck & Co., Inc., Kenilworth, NJ, USA, to discover and develop Live Biotherapeutics for vaccines."

They are looking to expand their international reach to markets beyond the UK & US and recently launched in France.

"PrimaryBid launches in France, partnering with Euronext to deliver retail nclusion in capital markets
? Building on its success in the UK, PrimaryBid’s award winning investment platform launches in France in partnership with Euronext. PrimaryBid’s launch in France marks the beginning of its European expansion
? With this partnership Euronext strengthens its commitment to promote retail investors' access to
capital markets and broaden the financing options available to companies listed on its markets
? Retail investors directly own 12% of listed shares in France, a figure that has risen since the start
of the pandemic. PrimaryBid’s service enables French corporates to more easily access this
important pool of capital

https://primarybidassets.s3.eu-west-2.amazonaws.com/PR+-+PrimaryBid+France+Launch+vFinal+ENGLISH.pdf

I find it interesting when this forum posts about companies in Draper's portfolio so here's an overview of PrimaryBid.

PrimaryBid is a tech platform that allows everyday investors fair access to public companies raising capital. The company ensures retail investors are able to transact at the same time and at the same price as institutional investors. Some of you may have used them to buy GROW shares recently.

Draper co-led a $50m Series B fund-raising in October 2020 and have invested £5m in them so far, £3m of which was post year-end i.e. between April and mid-June this year.

Unusually for a Pre-IPO company, they popped up for a Proactive Investors interview last week. Here you get a chance to meet the COO, James Deal, who makes a good first impression. They seem to be growing fast and have raised over £750m through 100,000+ investors so far. One to watch...

https://www.youtube.com/watch?v=bPJ7NO42orE

This IC article from last month is worth a read/reread. It highlights the extraordinary hit rate for Draper and how the losses were tiny in comarison to the winners' gains. Note that C.70% of the portfolio value and 57% of the NAV is distributed in the top 17. Also Graphcore's ambition to "make their IPUs the standard for a new era of computing" is pretty exciting.

"...Draper’s ability to pick winners. Just three of the group’s 17 largest investments saw negative revaluations over the last year, and then only by a combined £3.6m, against a total fair value gain of £357.8m."

https://www.investorschronicle.co.uk/news/2021/06/14/draper-esprit-growth-prospects-undimmed/

Hi Cleanerworld, I spotted the article this morning and thought it was pretty odd. I'm a big fan of Simply Wall Street's screening tool and have a Premium account but the articles are the weakest part of their offering and seem to be written by algorithms.

It says the refers to a single unnamed analyst that has cut the revenue and EPS targets but not changed their sp target of 990p. It then refers to 2 other analyst targets (I thought there was only 1). All 3 of these targets are higher than the current sp.

Interestingly SWS have a target valution for GROW of £24.93 so consider it to be 62.5% undervalued so most of the news beyond the clickbait headline are positive.

Draper is moving to the FTSE 250 by 21st July so there should be wider broker and media coverage from then on and I'll welcome that. It's my #1 ISA holding but if it did drop to <900p then I would buy some in Trading as I think it should be nearer to 1000p by the end of this month. DYOR and good luck.

BERENBERG RAISES TEAM17 PRICE TARGET TO 900 (850) PENCE - 'BUY'

I just topped up again as I think the wait-time-reducing trial will be a big success in the 2 airports and the potential is for it to be used in thousands.

"Airports, and the vendors partnering with them on the trials, say the deployments are geared toward making the airport experience less stressful for flyers. Virtual queuing could also reduce crowding as Covid-19 continues to be a concern. And passengers who are no longer physically waiting in line have more time to visit restaurants and shops, boosting airport concessionaire revenues."

https://www.phocuswire.com/airports-test-virtual-queuing-for-security-checkpoints

"Seeing Machines. The company has been developing the FOVIO driver monitoring platform for more than 10 years. FOVIO detects and alerts when drivers are not paying attention to the driving task.

Seeing Machines has collected data from more than 23,000 truck drivers and several thousand passenger cars. FOVIO driver monitoring technology debuted in the Cadillac CT6 as an integral part of the vehicle’s safety architecture and autopilot Super Cruise.

Seeing Machines driver monitoring systems are already deployed in over 200 commercial trucking and transport fleets worldwide to detect and mitigate distraction-related driving events and get truck drivers home safely to their families."

https://speedlux.com/driver-monitoring-systems-will-save-lives-every-day/

"Long Path Partners is a privately-owned investment firm that seeks to compound capital by investing in a limited number of high quality, predictable businesses that we intend to own for the long term. "

New RNS late in the day: Long Path Partners appear have been buying and have increased their holding from 8.4% to 10.4% :-)

Good article - worth a read...

"Among 4D Pharma’s promising developments, which are all created at its own independent cGMP-certified lab, are a phase I/II studies of MRx0518 for pancreatic tumors, a phase I/II study of MRx-4DP0004 for patients with asthma, and a remedy for IBS that has completed two stages of clinical trials. The company’s treatment for pancreatic cancer, which is being tested in collaboration with immunotherapy medication Keytruda, is currently seen as its most promising for successful approval in the coming months. Using samples of gut bacteria isolated from healthy human donors, the drug has shown effectiveness in late stage cancer patients to reverse failures in the protein PD-L1, which acts as an immune system “brake”, in order to prevent the body from killing off healthy cells in an effort to destroy cancerous ones. “In our initial population of 12 patients with growing tumors, some of whom had received seven or eight different prior treatments, five had durable responses to MRx0518 in combination with Keytruda,” said CEO Duncan Peyton in October 2020 when discussing the treatment’s potential. “That was a fantastic result and we’re excited to conduct later stage trials, with an approval next year potentially on the cards.”

https://www.sickeconomics.com/2021/06/29/biotech-catalysts-summer-2021/

According to the Airports Council International (ACI) World Airport Traffic Report, there are currently 17,678 commercial airports in the world, in other words those which receive airliners, cargo and business aircraft.

"Logan Airport officials declined to comment on how the pilot program is going, but Accesso Technology Group, Logan's virtual queuing technology partner, said that in a recent survey of users of the solution, 96% said that the virtual line helped make traveling less stressful."

https://www.travelweekly.com/Travel-News/Airline-News/Airports-test-virtual-queuing-security-checkpoints

"Fatigue Tracking Software
Another recent development by CAT is the facial recognition software installed in their rigid dump trucks. They did this in a partnership with Seeing Machines so that fleet owners in the mining sector can monitor their drivers fatigue and make the workplace safer.

This came as a result of the long days that many mining operations demand out of their employees. This makes drivers feel very fatigued which can be a dangerous problem. This is particularly dangerous for those driving the rigid dump trucks. A vehicle that heavy can cause a lot of damage if the driver is falling asleep at the wheel.

Now with Cat’s facial recognition system they can scan the drivers faces for signs of microsleep such as brief unintentional periods of unconsciousness. They can determine the warning signs by indicators such changes in posture of the head and eyelids."

https://www.newscase.com/caterpillar-cat-unveil-new-in-house-developed-technology-for-new-machinery/

No or only partial detection when looking left or right, up or down, eyes closed etc all suggest that the eye direction monitoring barely works at all. It seems to focus, or at least only accurately monitors, the top of head and chin position.

Seeing Machines eye direction monitoring is years ahead of this.

"An Intrinsic Calculation For K3 Capital Group PLC (LON:K3C) Suggests It's 49% Undervalued"

https://simplywall.st/stocks/gb/commercial-services/aim-k3c/k3-capital-group-shares/news/an-intrinsic-calculation-for-k3-capital-group-plc-lonk3c-sug

Topping up just 6 weeks ago at 733p when the share price was at NAV (TU: 728p, FY: 743p) was an easy decision but great to see a decent premium to it at last. Here 's reminder of the accelerating NAV growth in recent years as the business model has matured and improved:

NAV to 31 Mar 2019: 524p
NAV to 31 Mar 2020: 555p (+ 6%)
NAV to 31 Mar 2021: 743p (+34%)

I agree that it's been very quiet but H1 ends on 30th June and last year the Trading update was released on 8th July so we should hear more soon. This is one of the smaller holdings in my portfolio and I would like to see greater engagement with shareholders/brokers/the media if there is a good story to tell.

I've generally been spreading my risk in the last year rather than going big on a few favourites. I'm not into Steph 90%+ territory but have 30%+ in GROW (most others 5-10%) and would be more than happy if that naturally goes higher. I considered GROW high risk when I first bought 18 months ago but no more than medium risk now due to my research. DYOR :-)

We saw a temporary dips not that long ago but things appear to be changing for the better and the 800s seem behind us now.

I am extremely optimistic about the move to the main market (presumably FTSE-250) and the GROW Team. Their record of picking winners is exemplary.