Paul Hopper (pic) seems set to emerge as the chief shareholder in Virax Holdings after the company today announced plans to acquire Pathway Oncology Pty Ltd.
Pathway Oncology controls an exclusive worldwide license to Yale University Phase1b/2-ready drug programs aimed at the lucrative breast cancer and multiple myeloma markets.
The market for breast cancer drugs is estimated to be worth $US10b.
The market for MM drugs is estimated to be worth $US4.4b.
Who/what controls Pathway Oncology?
Oddly, perhaps, the answers are not to be found in today's VHL announcement signed by chairman, Dr Wayne Millen.
But ASIC records reveal that Pathway Oncology currently has one director, an issued capital of $1000 and four shareholders.
The sole director is Paul Hopper's daughter, Alexandra Hopper, 28 of Woollahra, NSW.
Shareholders include Paul Hopper, Hopper partner Deborah Coleman and two Hopper companies, Kilinwata Investments Pty Ltd and Moreglade Pty Ltd.
Pathway is not an old company.
It was established in Queensland less than three months ago, on December 20, 2013 - evidently to acquire control of the US drug license.
Under the deal announced by Wayne Millen, Pathway will become a subsidiary of Virax in return from the Hopper family receiving up to 240m VHL shares in three tranches.
The first upfront tranche of 60m shares will allow the Hopper to become the biggest Virax shareholder with 9.8pc of expanded capital of 633m units.
At present, biggest shareholder is Westoz Investment Co (WIC), MC $160m, with a share of 5.9pc.
Second biggest is Wayne Millen with 4.5pc.
Third biggest is Melbourne investor Campbell, Kitchener Hume & Associates, with 3.9pc.
Add two other 80m unit tranches (subject to performance conditions) and Paul Hopper will control 30pc of Virax capital.
Of course, this could be diluted in the event he chooses not to participate in any future equity raisings.
On the other hand, he might build on his equity, one day selling to Big Pharma.
In any case, Hopper seems set to have a pivotal influence over the company's destiny in the lung cancer, head (nose/throat) cancer, breast cancer, pancreatic cancer, colon cancer and MM spaces.
Hopper seems a busy man in a big hurry.
He has experience as director of the Australian Private Hospitals Association, chairman of Singapore based Your Health Group, chairman of the Sydney chapter of the international Young Presidents’ Organization (YPO) and chairman of Sydney private girls’ school, SCEGGS, Darlinghurst.
As head of of the Life Sciences and Biotechnology Group at Cappello Group, Los Angeles, Hopper is currently responsible for capital raisings and M&A.
In the past, he's been a director of Somnomed (SOM) MC $74.7m, Isonea (ISN) MC $51.5m and, as recently as two months ago, pSivida (PVA) MC $33.9m.
He's currently chairman of Viralytics (VLA) MC $65.3m. VLA is addressing the melanoma and other cancer spaces.
And he's executive chairman of Immugene (IMU) MC $13.2m. IMU is addressing the gastric and breast cancer spaces.
Paul Hopper was recently instrumental in selling Biolife Science QLD to IMU, acquiring 68.3m IMU shares in the process.
How can the great man adeptly juggle so many apparently conflicting interests?
While many may ponder the question, there's probably only one who can offer an authoritative answer.
Who might that be? Paul Hopper.
VHL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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