OSE Immunotherapeutics - Transforming into R&D powerhouse
Despite the ongoing pandemic and difficult times for most of the industry, OSE has managed to progress its R&D activities, which most recently culminated in an out-licensing deal. All this helped the share price to triple since the beginning of 2020. OSE carried out a successful private placement of €18.6m in November 2020 followed by a substantial loan from the European Investment Bank in February 2021, which gives OSE access to up to €25m. The funding provides visibility to Q222, which could be supplemented by potential milestone payments from its partners. Upcoming newsflow from the clinical and preclinical pipeline should provide continued catalysts and hence continue to support the share price. Our updated valuation is €291m or €16.2 per share.Ose Immunotherapeutics SA, formerly Orphan Synergy Europe Pharma SA, is a France-based company principally engaged in the clinical stage biotechnological sector. The Company develops immunotherapy products against invasive or metastatic late-stage cancers. The Company offers a technology, called Memopi, which helps the immune system to eliminate malignant cells; it re-educates the body's immunological memory so that the immune system (and particularly T cytotoxic cells) attacks tumor cells by increasing the patient's specific cytotoxic T response against their cancer. The Company's main product, Texopi, is a patented combination of ten epitopes, selected and optimized from five tumor associated antigens.
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