Continuing to secure deals that validate model
Abzena has announced another licensing deal, this time involving its Composite Human Antibody technology. The deal is with Telix Pharmaceuticals, a biopharmaceutical company which specialises in the development and commercialisation of radiopharmaceuticals. The agreement is the third announced this year, which includes royalties and milestone payments, based on successful development, alongside a service contract. We have reviewed our service business valuation as we expect these deals to enable benefits of scale. As a result we have increased our valuation to £160m or 75p per share. We note the potential for further advances as more deals come through and if forecasts are met.Abzena is providing a range of complementary services and technologies for the selection, development and manufacture of biopharmaceuticals.
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