HEIDELBERG PHARMA - BUY | EUR14 VS. EUR12 (+165%) Strategic partnership with major Chinese player underlines potential of the platform.
We are reiterating our BUY rating and increasing TP to 14 (from 12). Over the weekend, Heidelberg Pharma announced the signing of the strategic partnership with Huadong Medicine, a part of China Grand Enterprise, and held a conference call on February 28th. We remind that the partnership agreement includes the licensing of lead asset HDP-101 as well as HDP-103 in the Asian region (see our note from 2022-02-28). Huadong will be responsible for clinical development and commercialization in the Asian region and will participate in the global clinical studies.Wilex is a biopharmaceutical company focused on oncology and antibodies. The parent company WILEX AG no longer pursues clinical development activities in Munich, instead acting exclusively as a holding company. Operation concentrate on the research and development activities of the subsidiary Heidelberg Pharma GmbH in Ladenburg. Heidelberg Pharma workes with the toxin Amanitin and an ADC technology with the goal of coupling this highly effective agent with various antibodies to make it usable for treating cancer. This innovative technology platform is progressively being developed for therapeutic antibody drug conjugates for use in proprietary projects and partnerships.
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