Adocia

EU: ADOC

€97m market cap

€14.02 last close

Adocia is a French biotech company focused on innovative formulations of approved proteins. The company features the BioChaperone technology platform, which has generated six products in clinical stage; the most advanced is BioChaperone Lispro, which is Phase III ready. Adocia has four preclinical products; three are due to start clinical trials in 2018.

Investment summary

The Arbitration Panel has found for Adocia in the first phase of the ongoing arbitration against Lilly; Adocia will be awarded $11.6m in damages. On the partnering front, Adocia has struck a deal with Tonghua Dongbao (THDB) that includes BioChaperone (BC) Combo and BC Lispro for China and additional undisclosed countries. The deal includes a $50m upfront payment, up to $85m in milestone payments and double-digit royalties on net sales. A Phase I clinical trial with BC Pramlintide Insulin is ongoing; Adocia plans to start Phase I trials with BC Glucagon GLP-1 and GLP-2 in H119. Finally, it presented six abstracts at the American Diabetes Association meeting. Gross cash at end-H118 was €55.8m.

Sector
Healthcare
Share price graph
Price performance
%
1m
3m
12m
Actual (7.8) 32.0 (7.5)
Relative* (13.1) 27.0 (4.6)
52-week high/low €20.7/€10.5
*% relative to local index
Key management
Gerard Soula CEO
Valerie Danaguezian CFO
Remi Soula Director of Business Development