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Genedrive - Capital Network: FY 2017 Preliminary results: HepC test launch in sight

KEY INVESTOR MESSAGES
Genedrive - Capital Network: FY 2017 Preliminary results: HepC test launch in sight
  • Commercial launch of Genedrive® Hepatitis C (HCV) test expected to start in    the coming quarters (African markets)
  • Collaboration with the US Defense Department (bio-hazard program) to generate further income in the current fiscal year
  • Re-launch of Genedrive® MTB (tuberculosis) test in India is being reassessed
  • Divestment options for the Services business are being pursued
  • Cash position of £4.2mln as of 30 September 2017

UPCOMING MILESTONES

Over the next 6-12 months we expect genedrive to report significant business progress, particularly related to:

  • The launch of Genedrive® HCV test in several African markets, following the distribution agreement signed with Sysmex Europe
  • Reassessment of the commercial strategy for Genedrive® MTB test in India
  • Potential divestment of the Services business
Full report is available via Capital Network website
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Genedrive PLC Timeline

Related Researches

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January 18 2019

Feraccru is a unique, non-salt, formulation oral iron: strong efficacy with “placebo-like” tolerability

Potential to change iron deficiency anaemia (IDA) therapeutic algorithm

Feraccru to become the preferred option for patients not adequately controlled or who are intolerant to generic oral iron supplements (before they switch to intravenous iron).

With an indication in Europe to treat iron deficiency, Feraccru’s use would prevent the occurrence/reoccurrence of iron deficiency anaemia

Feraccru European commercialisation expected to accelerate significantly following the licensing agreement with Norgine announced in September 2018

Key upcoming milestones: results of the head-to-head phase 3 study of Feraccru vs intravenous (i.v.) iron expected in first half (1H) of 2019; Feraccru PDUFA (Prescription Drug User Fee Act) date 27 July 2019

Current market capitalisation of about £40mln is by and large not reflecting Feraccru commercial potential

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April 09 2019

  • Avacta Group PLC (LON:AVCT) reported interim results to January 2019, confirming good progress on key development programmes
  • Lead immune checkpoint inhibitor programmes continue to move towards in-man clinical data in 2020
  • Major development partnership and licence agreement with LG Chem potentially worth more than US$300mln plus royalties, announced in December
  • Post-period end, the additional licensing deal with Moderna provides further validation of Avacta’s Affimer platform
  • Appointment of Jose Saro as the chief medical officer strengthens Avacta’s capabilities for evolving from pre-clinical to clinical
  • The Research and Diagnostic Reagents business reports a record sales pipeline

Avacta (LON:AVACT) reported revenues of £1.0mln, down from £1.5mln the year before, largely due to the absence of research services revenues for FTEs working on the Moderna collaboration now that assets have been transferred into their development pipeline. We expect revenues from the LG Chem deal to offset this during the remainder of 2019.

The company reported a cash outflow from operations of £2.9mln and ended the period with £11.8mln net cash following the £11.6mln fund-raise in August. We believe that Avacta can comfortably fund ongoing development programmes into 2020.

The company will be moving its year-end from July to December, meaning that the current year will be reported on the basis of a

17-month period (see table below).

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May 09 2019

Shield Therapeutics (LON:STX) is making excellent progress having reported two sets of new supportive clinical data on its lead product Feraccru, a low dose oral iron capsule. Feraccru is being positioned as an alternative therapy for patients with iron deficiency (ID) and iron deficiency anaemia (IDA) unable to tolerate or unresponsive to first-line oral iron tablets and as an alternative to second line invasive intravenous (IV) iron.

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