NORTHLAND VIEW
SalvaRx GROUP LON:SAVL
Four portfolio companies: SalvaRx now has exposure to four portfolio companies, giving it access to several immuno-oncology programmes—many of which have enough funding to complete early to mid-stage clinical trials.
Intensity Therapeutics moving into the clinic: we expect patient dosing with lead product INT230-6 to commence imminently, which would represent a major milestone for SalvaRx, as it would be its first portfolio company to move into the clinic.
Substantial market: The immuno-oncology market is forecast to expand to over $80bn by 2020.
Valuation: Our updated DCF model indicates a 180p price target (up from 149p previously).
Positive read-across from Biohaven IPO: We note Biohaven's (BHVN) recent successful IPO on the NYSE, raising $168m. The group's market capitalisation is c. $660m. Biohaven shares several Directors and investors with SalvaRx. As such, we estimate that Biohaven's success provides positive read across for SalvaRx.
SalvaRx’s pipeline continues to expand. Through two recent investments, the group now has exposure to four immuno-oncology portfolio companies. Moreover, the group’s pipeline continues to progress. Notably, we expect portfolio company Intensity Therapeutics to soon dose its first ever patient, which would represent a major milestone for the business. We increased our target price from 149p to 180p, to reflect the group’s expanding pipeline .
COMPANY DESCRIPTION
SalvaRx Group plc is a drug discovery and development company focused on the area of cancer immunotherapy
Venture Life Group LON:VLG
From yesterday: 1000 Companies to Inspire Britain
NORTHLAND VIEW
Yesterday Venture Life announced that it was recognised in the London Stock Exchange's '1000 Companies to Inspire Britain 2017' report for the second consecutive year.
The report, in its fourth year, seeks to identify the fastest-growing and most dynamic small and medium sized businesses in the UK.
To be included in the list, companies needed to record consistent revenue growth over a minimum of three years, significantly outperforming their industry peers.
CEO, Jerry Randall was invited to speak at the launch event as part of a panel discussion along with 3 other key speakers, followed by a special reception at 10 Downing Street.
Venture Life’s success at driving revenue growth has again been recognised by the LSE. Of note, the Group demonstrated its ability to grow successfully both organically and by acquisition.
COMPANY DESCRIPTION
Venture Life Group plc is a consumer healthcare company.