Charts NXS, page-853

Hi Tiger…
I lost my other post halfway through writing it.
Briefly this link to a 2018 NXS study directly compares (favourably) a BlastX product with a Convatec one FWIW:
https://www.nextscience.com/wp-content/uploads/2021/01/Kim-WOUNDS.pdf
So yes some competition?

Or might it be supportive?

Or would all deals with Triad now be cancelled due to the sale?

NXS has had plenty of time to prepare for any changes given that the deal has been known about since at least mid-November last year when Triad was intending to list on the ASX back but instead canned the plan.

Spoiler : AFR 16/11/2021

https://www.afr. com/street-talk/triad-life-sciences-gets-takeover-offer-postpones-asx-float-20211116-p599am
Triad Life Sciences gets takeover offer, postpones ASX float
Anthony Macdonald, Yolanda Redrup and Kanika Sood
Nov 16, 2021 – 12.13pm

How quickly things change. After booking meetings with investors this week to kick off its IPO campaign, regenerative medicine biotech Triad Life Sciences has now postponed discussions after receiving a takeover bid from a strategic player for a 30 per cent premium to its pre-money valuation.

The US-based wound care company had planned to raise $40 million at a market capitalisation of $540 million, and had Canaccord Genuity acting as lead manager.

Triad Life Sciences has created a placenta-based wound care matrix. Louise Kennerley

It’s expected the new bid is around $650 million.
Triad chief executive and chairman Russell Olsen confirmed the bid to Street Talk.
He said at 30 per cent premium, he was obliged to present the new offer to the board and Triad shareholders.

The Memphis-headquartered business has made a product that helps serious wounds (such as diabetic ulcers) and burns heal called InnovaMatrix using placental material.



Its patent-pending, FDA-approved technology is designed to overcome inherent challenges and related restrictions of human cells, tissue, and cellular and tissue-based products.
Possible suitor

While the identity of the strategic bidder remains under wraps, the size of the deal is expected to be big enough to knock out local rival Aroa Biosurgery.
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It’s also highly unlikely PolyNovo would be interested in acquiring a business making a biologic scaffold, when its competing product is a synthetic.

A logical suitor with the appropriate scale and deep pockets is $7.8 billion NASDAQ-listed company Integra LifeSciences. It makes a range of medical products centred on regenerative medicine, including wound care products.
Its track record also suggests it likes biologic extracellular matrix (a large network of proteins and other molecules products that help cells attach to and communicate with nearby cells, playing an important role in cell growth) products, like that made by Triad.

In December 2020 Integra announced the acquisition of ACell for $US300 million, plus $100 million in future milestone payments dependent on various growth targets being met. ACell specialised in the manufacture of porcine urinary bladder extracellular matrix technologies,
While the bid is under consideration by the board and Triad’s investors, the company has not ruled out an ASX listing, and could be back in front of local investors early next year if it doesn’t proceed with takeover talks.

Olsen said the company liked the ASX because of the familiarity of local investors with the biotech space, specifically in regenerative medicine, with already established comparable companies listed.

The big difference between Triad, PolyNovo, Aroa and Avita Medical is the material they use for their regenerative medicine products.
While PolyNovo utilises a polyurethane-based polymer, while Aroa, Triad and Avita use various biologic products.
Placental-based wound care products are commonly used in the US, but are not widely used in Australia.

“[The placenta] has a lot more bio-activity compared to the other source materials,” Olsen said.
“In the US, it’s the standard for treating chronic wounds and complex surgical incision wounds... Rather than coming in and convincing someone to switch from Pepsi to Root beer, which is a hard sell... we’re coming in and saying well you like this cabernet, let us give you this other cabernet that’s better.”

And I wish it had been NXS that had been taken over!
For a worthwhile sum ….. It would be lovely to see some genuinely positive desire for this product range for a change!

Thanks for your post Tiger, and I’ll look some more tomorrow

cheers