Edison Issues Outlook on Genkyotex (GKTX)

Monday, June 5, 2017 General News
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LONDON, June 5, 2017 /PRNewswire/ --

Genkyotex is a Euronext-listed company formed by the merger of Genticel and

Genkyotex focused on NOX science and its application in fibrosis and other indications. The lead asset, GKT831, will start a Phase II trial in primary biliary cholangitis (PBC) in Q217, with data expected in 2018. Positive results could justify future
development in other large fibrotic diseases including non-alcoholic steatohepatitis (NASH). GKT771 will be Phase I ready in late 2017 and will focus on inflammation and angiogenesis. A partnership for immunotherapies with the Serum Institute of India (SIIL) for up to $57m in milestone payments plus royalties is also in place. Cash of €21.8m at end March 2017 should be sufficient to fund operations for two years. Our valuation is €268m.

     (Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

Our valuation of the combined company is €268m based on an rNPV and includes the PBC indication, the SIIL deal and net cash. Additionally, should the company pursue NASH, we estimate this could add €30m to €90m, depending on the commercialisation strategy (via a partner or alone).  

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All reports published by Edison are available to download free of charge from its website

http://www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Learn more at http://www.edisongroup.com and connect with Edison on:  

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For more information please contact Edison: 

Juan Pedro Serrate, +44-(0)20-3681-2534 Jonas Peciulis, +44-(0)20-3077-5728 healthcare@edisongroup.com

SOURCE Edison Investment Research



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