Report

Initiation: Deep sea treasures

Zeltia is a holding company that is increasingly focused on the potentially high-growth marine oncology activities of PharmaMar. This subsidiary has a unique business model and has built a pipeline of first-in-class cancer drugs for development with strategic partners. Yondelis, its first product, sold in Europe since 2007, is approaching regulatory catalysts in the US and Japan. Other catalysts include Phase III Aplidin data (expected in 2015) and deal potential for PM01183 (shortly to begin pivotal trials). Approval(s), data and/or deal news should increase our €904m valuation.
Underlying
Pharma Mar SA

Pharma Mar SA is a Spain-based company engaged in the bio therapeutic drugs manufacture. The Company focuses on research, development and marketing of bio-active principles, primarily from marine origin, for application in human diseases treatment, including antitumour, antiviral and immunomodulation, as well as tropical diseases areas. It manufactures and sells Yondelis, a synthetically modified antitumor agent, which is derived from sea squirts and is implemented in the treatment of soft tissue sarcomas and relapsed ovarian cancer. Furthermore, the Company's products pipeline comprises drug candidates and agents for cancer treatment, such as Aplidin, PM01183 and PM060184. The Company operates through subsidiaries in Italy, Germany, France, and the United States, among others.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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