NeuroVive PharmaceuticalMighty mitochondria
Mitochondrial diseases are chronic and in many cases life-threatening. No effective treatments are available, hence a significant unmet medical need exists. Although these diseases are rare individually, in aggregate 12.5/100,000 individuals are affected globally. KL1333 is one of NeuroVive’s most advanced assets, and in our view is an interesting drug candidate since it is directed to a scientifically validated target that could potentially modify several mitochondrial diseases. We expect clinical development of KL1333 to speed up in next few years. We initiate coverage with a fair value of SEK3–9/share.NeuroVive Pharmaceutical is engaged in the conducting research and development into pharmaceuticals that protect the mitochondria and pharmaceuticals to promote more effective mitochondrial function. The drug development technology platform is cyclosporine A, versions of cyclosporine, and molecules with a similar structure, which together, constitute a new class of pharmaceutical called cyclophilin inhibitors. The project portfolio also includes drug candidates for cellular energy regulation.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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