Hybrigenics - Hybrid business model

Friday, Feb 08 2013 by

Feb 08th 2013 - Edison Investment Research today published a report on Hybrigenics entitled "Hybrid Business Model". In summary, the report says:

Hybrigenics’ main value driver remains inecalcitol, based on its potential in oncology, while its development in its former key indication, psoriasis, is on hold. Key data from a Phase II trial in chronic lymphocytic leukaemia (CLL) are due in 2013 and could lead to a licensing deal, and potentially, resumption of trials in castration resistant prostate cancer (CRPC). Meanwhile, Hybrigenics is expanding its service division to reduce its dependence on inecalcitol and recently launched its novel small molecule screening service, YChemH. Our base case valuation is reduced to €23m excluding psoriasis, rising to €29m if trials in this indication resume.




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Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »