News

CREATE Health delivers another exciting tech, ProMIS, which potentially could open up a world of new IP for Immunovia

10 July 2020

In our latest research update on Immunovia, we presented our forecast of a future diagnostic regimen including a combination of proteomics and genomics-based techs to generate timely and correct diagnosis of cancer.

Published in the impactful Nature Communication Biology, Immunovia’s research arm and collaborator CREATE Health demonstrates the powerful combination of the two techs in its novel academic research project, the ProMIS platform.

No one-trick pony – advancing a novel platform-based CNS company

7 July 2020

AlzeCure has with its seven-project portfolio multiple shots at goal where each, while early stage, represents a potential multibillion-dollar opportunity.

We update our rating to Outperform and raise the target price to SEK 16 per share, corresponding to an equity value of approximately SEK 600m non-diluted, derived from risk-adjusted DCF valuation of ACD856 and ACD440.

When genomics and proteomics converge, Immunovia will probably be snatched up

1 July 2020

By being at the forefront of proteomics-based technology, nearing launch of the first to market, outstandingly accurate blood-based test for early detection of pancreatic cancer, we see Immunovia as an apparent strategic target for acquisition.

We maintain the Outperform rating and raise the target price to 300 SEK per share, corresponding to an equity value of SEK 6.8 bn non-diluted, derived from a DCF valuation of the opportunity in pancreatic cancer.

Vator Securities rådger Xintela i 40,5 MSEK företrädesemission

12 June 2020

Vator Securities agerar som finansiell rådgivare i samband med transaktionen om SEK 40,5 miljoner.

Xintela är en innovatör i utvecklingen avregenerativa cellterapier och riktade cancerterapier baserade på denpatenterade markörteknologiplattformen XINMARK®.

Vator Securities advises LIDDS on 59,3 MSEK Directed and Rights Issue

11 June 2020

Vator Securities acts as Financial Advisor in connection with the transaction raising SEK 59,3 million.

LIDDS is a Swedish-based pharmaceutical company which develops new innovative pharmaceutical products with its proprietary drug delivery technology NanoZolid®.

Vator Securities acted as Joint Bookrunner on 400 MSEK Immunovia directed share issue

4 June 2020

Vator Securities acted as Joint Bookrunner in connection with the transaction raising SEK 400 million.

Vator Securities was involved in more than two-third of the final allocations to local and international specialist investors, thereby strongly delivering upon the company’s goal to diversify its shareholder base.

Xbrane Biopharma: Pop up on your boards – “the third wave” of biosimilars is rather a tsunami

2 June 2020

Xbrane provides an exceptionally attractive exposure to the rapidly growing biosimilars market without the significant clinical and approval risk that is often present in biotech companies.

We maintain the Outperform rating and raise the target price to SEK 155 per share, corresponding to an equity value of SEK 3 billion non-diluted, derived from a project-based, risk-adjusted DCF valuation of the lead asset Xlucane with fairly conservative estimates; real-world data on biosimilars supports an even more bullish outlook.

Ascelia Pharma: A delay. Fundamentals for Mangoral remain unchanged

26 May 2020

Ascelia Pharma’s announcement of a three to six-month delay of the ongoing pivotal phase III SPARKLE study is not surprising given the circumstances with the ongoing covid-19 pandemic and its impact on clinical trials.

In our previous update, we estimated launch during 2022. The revised timeline has a marginal impact on our valuation as the DCF model is mainly impacted by the free cash flow in the final years of the forecast. Our risk-adjusted DCF valuation of the lead project Mangoral results in a value for Ascelia of SEK 52 per share, down from SEK 54 per share.