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Last close As at 09/06/2023
-0.03
▲ −0.01 (−25.00%)
Market capitalisation
AUD26m
Research: Healthcare
In conjunction with Arovella Therapeutics’ strategic focus on developing its invariant natural killer T (iNKT) technology, the company has announced it has received a notification of intention from the European Patent Office for the pending patent grant for its cell platform. Management expects the patent to be granted in early 2023, after completing the formalities. Patent applications have also been filed in the United States, Canada, China, Hong Kong and Australia. If granted, the European patent would be valid until 28 February 2039. This should provide intellectual property protection to the company’s clinical and subsequent commercialisation efforts for its iNKT cell platform, the primary focus of Arovella’s R&D programme following the recent strategic review.
Arovella Therapeutics |
Pending patents reconfirm development of iNKT |
Regulatory update |
Pharma and biotech |
8 November 2022 |
Share price performance
Business description
Analysts
Arovella Therapeutics is a research client of Edison Investment Research Limited |
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In conjunction with Arovella Therapeutics’ strategic focus on developing its invariant natural killer T (iNKT) technology, the company has announced it has received a notification of intention from the European Patent Office for the pending patent grant for its cell platform. Management expects the patent to be granted in early 2023, after completing the formalities. Patent applications have also been filed in the United States, Canada, China, Hong Kong and Australia. If granted, the European patent would be valid until 28 February 2039. This should provide intellectual property protection to the company’s clinical and subsequent commercialisation efforts for its iNKT cell platform, the primary focus of Arovella’s R&D programme following the recent strategic review.
Year end |
Revenue (A$m) |
PBT* (A$m) |
EPS* |
DPS |
P/E |
Yield |
06/21 |
0.3 |
(3.4) |
(1.15) |
0.0 |
N/A |
N/A |
06/22 |
0.3 |
(7.4) |
(1.42) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Arovella’s iNKT cell therapy platform was in-licensed from Imperial College London in June 2021 and can be combined with chimeric antigen receptors (CARs) to target blood cancers. This was followed by the in-licensing of a novel monoclonal antibody targeting a Dickkopf-1 peptide from MD Anderson Cancer Center in December 2021. The company’s lead asset, ALA-101 (CAR19-iNKT), allows dual targeting of CD1d and CD19 and is being developed as an ‘off-the-shelf’ treatment for blood cancers expressing these antigens. This is in contrast to the autologous approach required of the currently available CAR-T therapies.
In late September, Arovella entered into a strategic collaboration with Imugene to explore if ALA-101’s applicability can be expanded to solid tumours using Imugene’s onCARlytics platform. If successful, this would significantly expand the market potential for the iNKT platform. The companies plan to finalise the preclinical study setup by end CY22, with first readouts expected in H1 CY23.
As a reminder, Arovella recently announced its decision to suspend all development activities for its OroMist platform (proprietary oromucosal drug delivery platform) and closure of its Perth-based R&D facility, underscoring its commitment to developing its iNKT technology. The aforementioned European patent covers the manufacturing of CAR-iNKT cells and is titled ‘Transduction and expansion of cells’. In addition to Europe, the company has similar patent applications pending for approval in other countries such as the United States, Canada, China, Hong Kong and Australia.
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Research: Healthcare
Respiri has announced that the first patients have been enrolled in its wheezo remote patient monitoring (RPM) programme in the United States. Respiri also expects the two signed US clients, Children’s Hospital of Michigan and the unnamed North Carolina-based health organisation, to start patient onboarding in December 2022. This marks a key milestone in Respiri’s US commercial roll-out efforts for its wheezo device, taking it a step closer to becoming the first Australian medtech to realise reimbursement under the Centers for Medicare and Medicaid Services’ Current Procedural Terminology reimbursement codes for RPM. Management anticipates the first reimbursement claims to be processed within 45 days. We expect traction from these initial patient enrollments to set the pace for future growth momentum. Our valuation remains unchanged at A$0.24 per share.
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