OXB has published a paper in Clinical Cancer Research on Nov 15 about the TroVax phase II trial in renal cancer patients. The paper described a "statistically significant relationship...between the magnitude of 5T4-specific antibody responses and PFS (progression-free survival) and OS (overall survival)". http://clincancerres.aacrjournals.org/cgi/content/abstract/14/22/7504
Thoughts on this plus the RNS on Prosavin?
http://www.stockopedia.com/news/announcement/OXB/081114oxb1570i.htm
The interim management statement published this morning didn't contain much news. The data from the Trovax Phase III renal cancer trials may indicate some benefit of the drug in patients but more trials are going to be required to gain regulatory approval.
The Prosavin Parkinsons gene therapy data looks encouraging ... Data from the first three human patients indicated positive trends in patient responses from base line after 3 months, but these effects cannot be interpreted with confidence given their size, the lack of placebo controls, and the high levels of placebo responses common with Parkinson treatments. A second string of higher dose results should be due in mid 2009... clearly this is a good market if they can gain approval... but it's still a gamble only for biotech savvy investors.
My worries with OXB relate to finance... The company has achieved substantial cost reductions and now is adequately financed to the middle of 2010. However, unless the company can achieve a significant deal on ProSavin in the mean time,it is likely that it will need to seek refinancing by the end 2009. In this climate that's too much uncertainty for my book...
Promising additional results from low dose ProSavin gene therapy tests today released as an RNS... 3 patients showed improved motor function over 6 months with no adverse reactions.... continuing the early trend.
Quite a wide range of motor impacts it seems... one showing +50% mobility improvements another +30%, but one only 10%.
They have started some high dose testing without adverse side effects... we'll hear about it on the 19th November.
Professor Palfi commented on the new data: "It is very encouraging that the early trend in benefit with the low dose of ProSavin has been maintained at six months. If the higher levels of efficacy are confirmed as the trial progresses, ProSavin would
represent a fundamental new treatment option for patients with Parkinson's disease."
Hi Promethean,
This is a LTBH for me and a lot has happened this year that is pertinent to this thread.
The situation regarding financing has improved considerably in 2009. OXB now have sufficient funds to see them to 2012, following from Sanofi Aventis actions in April this year on two fronts;
Trovax - SA relinquished it's partnership agreement with OXB, returning all rights and stumping up USD16.5m.
http://www.investegate.co.uk/Article.aspx?id=200904290700143288R
Ophthalmology - At the same time SA announced a partnering agreement with OXB for four of it's eye treatments,
RetinoStat® for wet age-related macular degeneration,
StarGen™ for Stargardt disease,
UshStat™ for Usher syndrome 1B and
EncorStat™ for corneal graft rejection.
This collaboration attracted an upfront payment of US$26 million (£18 million) and committed funding of up to a further US$24 million (£16 million) over three years.
http://www.investegate.co.uk/Article.aspx?id=200904290700303287R
The initial payment from sanofi-aventis significantly strengthens Oxford BioMedica's financial resources. As a result, with pro forma net cash1 as at 31 December 2008 of approximately £51 million, the Directors estimate that current cash is sufficient to support the Company's operations into 2012.
Prosavin - The recent update for Prosavin gave the share price a very welcome 58% boost and wide coverage in the press.
http://www.investegate.co.uk/Article.aspx?id=200910150700057929A
The hope is now that further parnerships can be agreed for Trovax and Prosavin and in their various RNS's this summer, OXB have repeated that these discussions are ongoing.
Cheers
Jonut
