I cannot believe the amount of negativity I have read on posts today with the exception of a couple. If you had the current directors at the helm of CBio today, CBio would be no more,full stop,finis-the end. I know for a fact that no reputable Australian stock broking firm would sponsor Cbio under the previous administration.
NN did not proceed with the deal because the trial did not meet it's primary endpoint-they are not interestered in pursuing a drug that may or may not have efficacy at a later stage. I am also aware that one product bio tech's are prone to fail as there is no fall back position in the event of a trial failure.Medical device company's are totally different, their physical products either work or they don't without the massive injection of capital required to sponsor major clinical trials as we have just witnessed.
The proposed merger is sensible and appropriate, we now have two products that share common ground and a base in the US which I believe will be very benefical.The depth of expertise and experience on both sides of the new(proposed)board is immense. CPN 10 is very much alive and Arthritis is still a focus once the formulation is corrected and trialed for efficacy-this as stated before should have been done before the previous trial.Below is an extract from the release----- "Combined Entity The combined CBio Inverseon entity will be a clinical-stage anti-inflammatory company. In addition to clinical work on INV102, the merged company will continue development work on CBio’s primary asset, Cpn10. The review of Cpn10 has identified an intellectual property package and preliminary clinical data that supports the drug’s continued investigation. Based on intellectual property, the hypothesised mechanism of action, preclinical database, a regulatory pathway, safety data to date, and commercial potential, the most promising development target has been identified as Systemic Lupus Erythematosus (SLE or Lupus)."
As I stated in a previous post earlier this year Lupus should be their primary objective.This is now the case.
Let the highly credentialed (proposed board) get on with the job and let us all prosper, they are the experts-not us.We will be rewarded.
CBZ Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
