Nuevolution: Pipeline And Partnerships Continue To Strengthen
Edison | Sep 26, 2018 01:55AM ET
With the completion of the up-listing to the Nasdaq Stockholm main market and the successful gross SEK110m capital raise, Nuevolution AB (ST:NUEVOL) continues to strengthen both its investor base and financial position. Amgen’s opt-in on the first programme in its multi-target collaboration and the identification of much sought-after small-molecule IL-17A inhibitors continue to validate Nuevolution’s Chemetics technology. Its transition to a clinical asset-focused company continues with the Almirall RORγt inhibitor programme likely to enter the clinic in 2019 and additional internal programmes (RORγt and BET-BD1) nearing clinical readiness. In addition to current partnerships, the company forecasts that a new deal is possible by year end. We value Nuevolution at SEK1,127m or SEK22.8/share.
Amgen (NASDAQ:AMGN) opt-in highlights potential of Chemetics
Amgen has exercised its opt-in right for the first programme in its multi-target relationship. This is the first of two programmes focused on undisclosed oncology targets that have been ‘fast tracked’ through development. Amgen is now responsible for all further costs incurred by both parties and will work collaboratively on late-stage research. It will be fully responsible for preclinical and clinical development. Should Amgen exercise its option to license a candidate before the end of Phase I, Nuevolution will receive an initial licensing fee of at least $10m and potential milestone payments of up to $410m.
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Pipeline And Partnerships Continue To Strengthen
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