Deinove

EG: ALDEI

€27.8m market cap

€1.76 last close

Deinove is a biotech company that discovers, develops and manufactures compounds of industrial interest stemming from rare bacteria and intended for the health, nutrition and beauty markets.

Investment summary

Deinove is a biotech company that develops innovative compounds from rare bacteria strains, including the little-explored Deinococcus genus. Using proprietary strain-selection technology, the company has collected an extensive library of c 6,000 extremophile bacteria found in hostile environments. Of the many potential compounds identified by Deinove, the most valuable are novel antimicrobials. The lead Phase II-ready asset, DNV3837, is targeting Clostridium difficile infection. Drug development efforts are expected to be partly supported by revenue from products for other applications, such as Phyt-N-Resist, the first-ever scaled-up, bio-sourced phytoene for cosmetics. Our valuation is €65m or €4.2/share.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2016A 0.8 (6.4) (7.7) (72.59) N/A N/A
2017A 0.2 (8.5) (9.7) (67.69) N/A N/A
2018E 0.7 (9.0) (10.1) (62.19) N/A N/A
2019E 1.1 (12.0) (13.3) (68.98) N/A N/A
Last updated on 19/03/2019
Industry outlook

Environmentalism will underpin growth in green chemistry and growing antimicrobial resistance to current antibiotics will demand the discovery of new antibiotic structures.

Last updated on 19/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (€m) 3.7
Forecast gearing ratio (%) 182
Price performance
%
1m
3m
12m
Actual 11.5 13.5 (55.0)
Relative* 6.2 0.2 (56.1)
52-week high/low €4.0/€1.4
*% relative to local index
Key management
Dr Philippe Pouletty Chairman
Emmanuel Petiot CEO
Julien Coste CFO