LONDON, July 14, 2016 /PRNewswire/ --
The Japanese pharmaceutical company ONO is jumping a therapeutic generation by licensing Celyad's allogeneic preclinical NKR-T cancer cell therapy for Japan, Korea and Taiwan. Allogeneic NKR-T has the same action as the Phase I/II NKR-T autologous product; allogeneic versions could be mass produced and provided "off the shelf". ONO paid $12.38m cash with $297.83m possible in milestones plus royalties. NKR-T is being tested in two hematological cancers with trials in solid tumors planned for early 2017. On an interim basis, until more data on NKR-T and C-Cure are available, the indicative value moves from $35 to $45 per share.
ONO has given the allogeneic technology a benchmark value in its deal for Japan, Korea and Taiwan (plus an option over autologous). This supports NKR-T generally. On an interim basis, we have increased the NKR-T probability from 17.5 to 18.5% while clinical data are awaited, probably by late summer. A nominal $11m value for allogeneic is also added for the first time. This moves the indicative value to $45/share from $35 previously. A scenario value of up to $571m If NKR-T moved into solid tumor indications was presented in our 8 April 2015 note .
Click here to view the full report.
All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com.
About Edison: Edison is an international equity research firm with a team of over 110 analysts, investment and roadshow professionals and works with both large and smaller capitalised companies, blue chip institutional investors, wealth managers, private equity and corporate finance houses to support their capital markets activity. Edison provides services to more than 420 retained corporate and investor clients from offices in London, New York, Frankfurt, Sydney and Wellington. 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.
Contact details: Learn more at www.edisongroup.com and connect with Edison on:
For more information please contact:
Dr John Savin MBA Edison Investment Research +44-(0)20-3077-5735 firstname.lastname@example.org
SOURCE Edison Investment Research