Hi
@Outlander2 Thank you for your post. Unfortunately I must say I disagree with it from a commercial perspective
Imugene - future collaborations, combinations and capital raises - No thanksPersonally I think it would be gross mismanagement to commence further collaborations and combinations without significant contributions from the partnering organisations. In recent years Imugene has had countless unifications with everyone from Eureka, to Celularity, Arovella, Merck Germany and Pfizer, not to forget the supposed Merck Her Vaxx deal which fell over. Their IP is at the point where if collaborations, combinations, and even prospective partnerships cannot be conducted without funding from the incoming, in my mind beneficiary of such a collaboration, then they should not proceed. Their IP either stacks up and represents a value proposition, or it doesn't. Imugene has enough on the table to proceed with and complete in due course. We as shareholders have stood by whilst their B cell program, which established proof of concept way back in 2021, has all but stalled in contrast to competing vaccines from their competitors including but not limited to Enhertu and Jemperli. No more I say. If Monil Shah and his highly paid band of comrades cannot command dollars from incoming players wishing to access our IP, then leave them at the door until they find some cash.
We need to be aware that Imugene has been funded by investors seeking a return on their investment, as opposed to a never ending sea of R&D. This is not Genentech, where LC previously worked, sheltered by a big brother such as Roche, littered with cash at their beck and call. It is not a cancer charity, nor a rest home for Bell Potter executives looking to top up their pension funds every time Paul Hopper gives them a tingle. Solid data, followed by resounding figures, numbers and potential revenue forecasts are what is called for from key assets such as Vaxinia, Oncarlytics and Azer Cel. If Her Vaxx and PD1 Vaxx are to be out licensed the board need to give their internal business team a deadline, let's call it June 30, after which the project should be outsourced to a third party corporate advisory firm to process the transaction. Obviously all KPI's applicable to MS and associated Imugene staff should cease as per that date .
I agree with the personnel decisions made in 2023. I identify with the need to purchase an allogenic therapy in Azer Cel. I am excited by the forthcoming Vaxinia, Oncarlytics, Azer Cel and PD1 Vaxx clinical results. I am not interested in further dilution, ongoing slide decks and the failure of business personnel to entice large fund managers, institutions and investors to the register outside of Capital Raises. Recent capital raises have consistently been conducted at significant discounts to the prevailing SP with no caveats, escrow conditions or future funding requirements being placed upon the leading incoming institutional share place participants.
In short your IP either warrants dollars from incoming collaborators and combination partners, or it doesn't. If your goal is to out license your IP (i.e., the B cell visa vie Her Vaxx), then place a timeline on the transaction. If it is not met, outsource it to professionals who can. Then finally don't go back to the well of dilution and sell off a few more bedrooms to pay for the second story, complete the ground floor first. And remember, you chose not to list on the NASDAQ, at the behest of perhaps the majority of your owners, don't continue to flog a dead horse, when there are deeper pockets further a field. The Dow, S&P and Nasdaq are all on the uptick, and have been for some time. The biotech index is turning around.
Don't sit on your hands waiting for commerce to come to you, it never does. Nothing happens unless you make it. If you need to consider and ultimately fund future projects, consider the opportunity cost of the time and money you propose allocating to them, as opposed to concentrating on finalising the development of your already existent key assets. And please don't bother knocking on the door of shareholders again, you may well find it's simply a
boy who cried wolf scenario. Added to which the last thing you want is for shareholders is to start knocking on your door. Last time I checked three strikes and you're out were the rules we played by.
We have much to look forward to with what we have on the table. Let's make it work before we start chasing down further rabbit warrens in search of carrots.
DYOR
