Your views on GBI reflect how we make markets…always need a willing buyer and a seller. Myself and Redfaces have done some very deep due diligence on GBI and remain comfortable with this regardless of current market sentiment.
Interested in your comments re GBI technology being outdated as all the research that I’ve done shows that its Ampsand multiplexing technology is cutting edge and offers all the advantages of Luminex Xmap and then some. Yes the current test uses old PCR but PapType Rapid uses solid phase PCR which further cuts handling steps and processing time. See page 26 of the latest GBI corporate presentation. Automation of the PapType test also in the pipeline with Invetech I hear to help produce a ‘set and forget’ test capable of being done over 1 shift.
See Hologic SEC filings (various transcripts on rationale for the Thirdwave acquisition) at http://www.sec.gov/cgi-bin/browse-edgar?company=hologic&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany
These filings clearly spell out why Thirdwave is potentially far superior than Digene hC2. Of note they are (1) significantly smaller sample volume (resulting in lower QNS) (2) inclusion of a internal control which leads to better specificity (lower false negatives) (3) less handling steps for the pathology technician and (4) the ability to genotype.
GBI’s test has all the same attributes.
GBI will get CE Mark in 12 months time and aims to file its PMA in late 2010/early 2011.
Healthscope use PapType in preference to the Digene/Qiagen test and have it accredited via NPAAC guidelines and there is a wide degree of buy in from Sonic’s US labs into getting this test up. These guys on the front line must see some advantage in PapType otherwise they wouldn’t be bothering with it. I understand that Sonic did sleeves rolled up/on the ground due diligence in Australia, Texas and also with TDL’s experts in London who actually helped bring ThinPrep to market approval for Europe for Cytyc.
Difficult to say that GBI are too late in this rapidly growing market when there are only 2 tests going to be approved by mid 2009 with the 3rd test from Gen-Probe coming on in 2010 and Roche who knows when considering they recently withdrew their PMA submission with the FDA. Amplicor and Linear Array are also prohibitively expensive for path labs to run, just ask any path lab, it’s just not economic for them.
The SP at the moment reflects the stale register and absolute disdain any company in the biotech/medtech space by the Aussie market. Wait to see some continued offshore investor interest and for a SP re-rating in due course after announcement of GBI’s next partnering deal.
Interested in your further comments Pdredfull?
GBI Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
