Company
ASX:1AD
AdAlta is a clinical stage biotechnology business addressing the need for effective cellular immunotherapies for the treatment of solid cancers. The company's “East to West” cellular immunotherapy strategy is the primary driver of future growth and value creation initiatives.
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“FY22 was a busy period and one which saw AdAlta deliver a number of important value-building milestones via our AD-214 program, and in the last few weeks, we’ve reported a substantial amount of new data for AD-214, our first in class anti-
The company will prioritise injectable delivery of AD-214 for lung, kidney or eye fibrosis for development.
The company has been given an extra $495,454 as part of the Research and Development Tax Incentive taking its total refund to $2,077,927.
CXCRF is overexpressed in multiple cancers, so finding an effective inhibitor represents a multi-billion-dollar opportunity.
The company is likely to use part of the rebate for a partial repayment of the $4 million non-dilutive financing facility agreement it has with the Victorian Government.
“While we have been focused on speed to clinical trials, it is now prudent that we make final decisions about incurring the significant costs of manufacturing and toxicology with the fullest possible data and partnering information in hand,
AdAlta’s CEO and managing director Dr Tim Oldham said: “Grant of this European patent means AD-214 now has patent protection until 2036 in the eight largest pharmaceutical markets in the world: US, Japan, China, Germany, France, Italy, Spai
AdAlta has been valued at A$78.5 million, which is reasonable given its pathway to a Phase II trial in the foreseeable future, according to Lodge Partners.
“India is a significant pharmaceutical market in its own right and is also a leading manufacturing location for biologic drugs and biosimilars (or generic biologics). This patent expands the protected market for AD-214 and provides addition
Work to optimise a formulation of AD-214 for nebulisation and inhalation is expected to be completed in parallel with preclinical studies, enabling large animal toxicology studies to be initiated in the March quarter of 2023.
"Most physicians today agree that fibrosis is going to be treated by multiple therapies in combination, much like cancer,” said AdAlta CEO Tim Oldham.
This brings the total funds secured under the research and development cash flow loan initiative to the maximum amount of $4 million.
The company adds the Chinese patent to patents in Australia, the US, Japan and Singapore, and is now targeting other major markets including the EU and India.
“This funding expands the strategic options available to the company for continued development and partnering of both AD-214 and the i-body platform. We are grateful to our existing shareholders who contributed strongly to the entitlement o
“We are grateful for the support of existing and new shareholders who participated in our A$3.75 million placement, and for ongoing support for the development of our inhaled form of AD-214,” Oldham said.
“We continue to strongly believe in AdAlta’s prospects and are retaining our valuation range based on a probability-weighted discounted cash flow (DCF) approach at A$0.27 per share base case and A$0.49 per share bull case,” says Pitt Street
“This funding reinforces AdAlta’s existing cash reserves as we proceed towards key development milestones planned for AD-214 and our partnered programs during the first half of 2022,” says chair.
Domino's Group CEO Don Meij said, “Less than three years ago we operated 550 stores and were not present in more than 10 prefectures. We highlighted that our business model at the time did not allow us to reach some of these territories – t
"The results of these studies support AD-214 being delivered by inhalation without losing its ability to bind to CXCR4 and at particle sizes with potential to travel to the furthest reaches of the lungs that are most affected by IPF," says
“We are very pleased to share the proof of principle data that so excited us about the potential of this collaboration. We look forward to first experimental results on agreed targets under the collaboration in the first half of next year,"
