Nuevolution: Pipeline And Strategic Execution Drives Prospects
Edison | Mar 15, 2018 09:02AM ET
Nuevolution's (ST:NUEVOL) 2017 was defined by internal progress of the RORγt inhibitor and BET-BD1 programmes (expected to be clinically ready in 2019). In 2018 we anticipate value will be driven by new and existing partners, for example we expect Almirall to initiate a RORγt inhibitor Phase I trial in late 2018, making it the first Nuevolution product candidate to enter the clinic. In addition to existing collaborations, a new partnership is anticipated by Nuevolution in the next three to nine months. If achieved, revenue from these events will aid Nuevolution’s strategy of transitioning into a clinical stage biotech. We value Nuevolution at SEK21.0/share or SEK901m from SEK21.4/share (SEK917m) previously.
Major year for Almirall and Amgen (NASDAQ:AMGN) partnerships
In 2018, we anticipate significant newsflow from partnerships with Almirall’s RORγt inhibitor (licensed from NUE in Psoriatic arthritis and dermatology) potentially entering the clinic, while Amgen could exercise its option this year to further develop one of the partnered oncology programmes. Both events would likely trigger substantial milestone payments. Additionally, a new deal is expected shortly, potentially focused on the BET-BD1 or RORγt inhibitor programmes.
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