IPO - Clarity Pharmaceuticals Ltd - 25 August 2021 #, page-3

For those that are interested. I did a bit of digging, I am not expert in the field, take it with a grain of salt. Judge for yourself.

Peptide receptor radionuclide therapy (PRRT)

• Needed therapy.
• Last line of defence.
• More monoclonal antibodies(mAB) treatment these days.
• CAR-T designer immunotherapy, better and targeted.
• Current approved treatment.

Copper

• Nice to have the same compound in treatment and diagnostic.
• Very little supply around the world.
• Cost is 10-15x more per dose than current therapy.
• Cost of transportation of radiation compounds very high, using specialised lead pot.
• Looking at the scan, the kidneys light up like a Christmas tree (I am not a medical expert, just my two cents’ worth).
• Special calibration needed for scan using copper, so very hard to share machine.
• Purity of Copper isotope from difference supplier
• Wave length of copper 67 attached to the peptide + linker close enough to cause cell death? (No expert just a question I have)

Peptide

• Can the production of peptide be produced to cGMP standard?

Remuneration

• The huge sum paid to the CEO and the chairperson + 40% bonus?

Clinical

• NCT04440956 – no results
• NCT03936426 – no results
• Priority Review Voucher – only available once the drug hit the market, so after phase III clinical trials and FDA review and approve the drug. You can have ten thousand Priority Review Vouchers, but unless a drug makes it to market after phase III, it is worth nothing.

Company

• More than 10 years old company.

I will leave It at that, again cancer treatment options are always needed, lots of player in the market, lots of approved therapy including PRRT.