- I don't yet cover BLRX with a complete page on BiotechDueDiligence, nor do I own the stock currently. But I am interested in the company, so I'll share my notes from their webcast at the UBS conference.
- See the Upcoming Events page for a complete list of biotech webcast, catalysts, and presentations plus links to my notes.
- See my notes from the webcast below:
- We bridge the gap between early stage Israeli academic labs and global interest. We invest 3-5 years of development through phase 2 proof of concept, then out-license
- Currently 5 clinical and 9 preclinical assets, we bring in 4-6 per year, bring forward 1-2 per year, kill the other 3-5. We hope to advance 1 new product to clinic and partner one product every 12-24 months.
- Also have a subsidiary that gets government funding for early development research
- So far in our 8 year history - evaluated 1300 compounds, in-licensed 37, killed 23 of these. We have no emtional attachment to any one program
- BL-1020 - first anti-psychotic to show signs of cognition improvement. Currently (6/2011) starting phase 2b/3 trial to repeat showing of cognition improvement. Known as 6 month CLARITY study as required by FDA (being run in Romania and India), complete 1q2013
- BL-1040 - has been designated as a device by FDA, so need only one pivotal trial. We licensed this for $7m upfront, 11-15% ryoatlies, >$200m potential milestones. Two pivotal trials start next couple months (first for EU approval, 4q2011, 6 month follow-up, complete 1q2013, 2nd few months later, final discussions with FDA 1000 pts, 12 month follow-up, complete 2014. No current treatment approved for repair of tissue damage. This is a liquid injected into the artery, turns into gel that acts as scaffold for healing process over 4-6 weeks.
- BL-5010 completed 1/2 study. Received EU device designation - quicker approval timeline.
- BL-1021 - phase 1 ongoing. Preliminary data on safety announced. Final data next month or two. phase 1b 2012.
- BL-7040 - IBD. phase 1 done. Start phase 2 1q2012.
- Government funds 80% of first 3 years of preclinical work...only have to repay funding from revenues, can terminate and not pay back
- Cash thru q12013
- Teva owns 10%, Pan Atlantic hedge fund owns 13%, 30-35% intitutional, rest retail
- Nasdaq ADR listing goal - reduce amountn of Israeli retail investors, attract new fundamental institutional investors.
- annual cash burn $15-18m
- no q&a on webcast