serious buyer steps into virax market, page-3

…yes, Maxter.

And I notice that Transgene's MC stands at $A626.2m against a recently upgraded valuation by London-based Edison Investment Research of $A706.9m.

Edison - which is close to Transgene - sees likelihood of success for TG4010 at 60%.

Yet the firm has upgraded the probability of Novartis exercising its option to commercialize TG4010 from 60% to 80%.

If Novartis decides to exercise the option it will need to pay Transgene $A1.1b.

Transgene, in turn, will need to pay to Virax. And Virax will need to pay ANU/CSIRO.

It seems to me that an investor wanting to plug into the success of the potential blockbuster lung cancer drug TG4010 has three main options:

1. Buy Novartis, MC $A305.8b;

2. Buy Transgene, MC $A626.2m;

3. Buy Virax, MC $8.3m.

I'm glad I've chosen option #3.