Unlisted Options Transactions, page-198

Hi II

Exactly right - given Immune Checkpoint Inhibitors are a relatively newer area of Cancer therapy, patent expiry is mostly later this decade and into the 2030s. Also, Merck have been very active conducting further P3 trials to get approval in new indications extending the patent even further. I was most interested in the comments on co-formulation as I wasn’t sure what Merck’s appetite would be in that space.

Therefore, i don’t think patent expiry will be a big driver for Zantrene with anti PD-1; but rather it will be more focussed on the extent it:
- Overcomes resistance to PD-1 therapy
- Synergises to better kill the cancer; and
- Cardio protection (less of an issue compared to Anthracyclines & Preteasome Inhibitors, but still important) .

It has become abundantly clear to me that Dr T is trying to orchestrate a potential bidding war by having multiple partnerships for Zantrene across multiple Cancer types & class of Cancer drugs. As I’ve mentioned previously, I think there is already some likely candidates RACE will partner with in the Anthracyclines, Proteasome Inhibitors space & would be great to see PD-1 included in that list soon too.

Furthermore, as you’ve mentioned a few times, the market may remain sceptical even if we put out more fantastic pre-clinical results. This increases the risk of a low-ball takeover offer succeeding as investors get frustrated with the lack of SP improvement on the back of good news. A commercial deal with the likes of Amgen as Wombat has previously outlined could come as early as Q2 and would genuinely re-rate the company IMO and the market would not only start valuing the company appropriately on the value of that deal, but the strong likelihood of additional deals to follow. Until then, I am accumulating as many as i can under $3.