Just a bit of history for any new investors who may be interested. I collected this information during due diligence and thought it is worth sharing to try to demonstrate the value offered at current price levels. Biotron are developing BIT225, an antiviral drug currently being aimed toward the Hep C market but with intended secondary applications in the HIV market, and preclinical studies underway for influenza, Hep B and Dengue viruses. The compound is a potential "platform drug" with the potential to kill a far wider range of viruses if proven viable.
The worldwide market for HEP C treatments is $3 billion, but could move toward $10 billion as more effective treatments emerge. 170 million people are infected with HEP C. Over 4 million people in the US alone are infected with HEP C. The main current treatments are interferon and ribavirin. These are incomplete treatments (do not reduce viral load to 0%) and have numerous side effects.
Biotron has chosen to focus on the HEP C market because it can potentially gain a major market share for treatments. A timeline of events is as follows:
January 2007 - Preclinical studies were successfully completed. These in vitro studies tested for respiratory, cardiovascular and neurological effects, as well as the compounds potential to induce genetic abnormalities . These tests were completed by a leading European organisation specialising in the field.
March 2007 - Phase 1 a Human Trial Commences. This was a single dose trial to evaluate the safety of the BIT225 compound in humans.
July 2007 - In vitro tests show BIT225 has potent activity against the Hep B virus
August 2007 - In vitro tests show BIT225 is highly synergistic with the two most common Hep C treatments (interferon and ribavirin). In vitro tests show that BIT225 used in combination therapy with interferon and ribiavirin increased the level of inhibition of virus replication from 70% to 100%.
August 2007 - Phase I a Human Trial Successfully Completed. Nil toxicity reported. Absorption, half-life, distribution and tolerability were all demonstrated as acceptable.
August 2008 - Phase I b Human Trial Commences. A 7 day monotherapy (no interferon/ribavirin) in HCV infected patients. Patients received twice daily doses of BIT225 (35 mg or 200 mg) or placebo. Study designed to demonstrate safety in infected patients.
August 2009 - Phase I b Human Trial Successfully Completed.
October 2009 - Phase I b Human Trial Successful Results Released. Safety and Tolerability are demonstrated. Significant reduction in viral loads demonstrated in the 200 mg cohort.
October 2010 - Phase II a Human Trial Commences. Phase II a is designed as a combination treatment with interferon and ribavirin, with increased dosage levels of BIT225 and an increased treatment course of 28 days.
The study will be completed by the end of this month. BIT225 has been demonstrated to be non-toxic in vivo. BIT225 has been demonstrated to be non-toxic in much higher in vitro doses. BIT225 has been demonstrated to be highly synergistic with interferon and ribavirin, reducing viral replication to 0% in vitro
Right now, the company is valued at $8m. To buy into the millions of dollars of research and years of work for that price level is quite an opportunity. Like any investment of this type it is in the highest risk category but the evidence is lining up and the results from this trial could see BIT sitting on a viable treatment for Hep C and a large share of the projected $10 billion market for Hep C treatments. No need to get ahead of ourselves and worry about HIV and infuenza at the moment, though they do remain as enormous targets if the compound is viable. I collected my two millionth security in the company today (paid for by ORM - don't be so dismissive Chuck!), every time I tell myself I can't risk more I get drawn in further by the upside. It has been a long, expensive process for the company to progress BIT225 to this phase of trials, but this will be the make or break moment where BIT has every chance of going absolutely ballistic.
BIT Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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