This (and the recent fundraise) leaves us confident that Avacta is on track to meet key development targets over the next 2-3 years. Their main therapeutic programs (in-house PD-L1/LAG3 bispecific Affimer and Affimer-drug conjugates co-developed with Tufts University) are on track to deliver key data points between 2019-2021.Full report is available via Capital Network website
- Genedrive's PLC (LON: GDR) HepC test just entered the commercial phase as partner Sysmex launched in EMEA and APAC territories in recent weeks
- Re-design of the mTB test in progress, launch date to be announced in the next fiscal year
- Discussions for the disposal of the Services business entered an exclusivity period, expect an update by the end of June
- Careful cash management with a £3.9mln cash balance at the end of February, we would expect a capital raise in the second half of calendar year 2018
- e-Therapeutics (LON:ETX) focuses on the discovery of new drugs in a more efficient and effective way and aims to be a valued partner to address the productivity challenge that the pharma industry faces.
- e-Therapeutics (LON:ETX) has developed a novel and unique in-silico approach to drug discovery: starting from the analysis of complex interactions between proteins in biological systems (networks), they apply advanced computational techniques to identify new drug candidates.
- This approach was labeled Network-driven Drug Discovery (NDD) and has been validated across several therapeutic areas (cancer, central nervous system, auto-immunity, infectious diseases) and molecular pathways.
- e-Therapeutics (LON:ETX) discovery platform has generated three drug candidates for multiple cancer indications which are ready to be out-licensed to pharma partners for their further development.
- We estimate e-Therapeutics intrinsic value to be roughly 3x higher than current market capitalisation. The latter doesn't reflect the commercial potential of e-Therapeutics' most advanced drug candidates and of the platform itself.
- e-Therapeutics ability to finalise a co-development or licensing agreement in the near term will represent a key inflection point for its stock re-rating.
Legendary Investments (LON:LEG) creates value through privately held and pre-market investment opportunities with the potential for outsized returns. The company has a strong track record with:
- Total investments valued at of £6.2mln (from zero in 2011)
- Out of 12 investees in total, five are exhibiting multiple returns from 1.3x to 35x
- Two crystallised with exits at a multiple of the initial investment
We believe this is an interesting time to revisit the investment case, as the shares are currently trading at a discount to net asset value (NAV), which has not been the case in the past.
N.B. Legendary plans to change its name to Eight Peaks Group (LON: 8PG) in the near future.
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