CHM 5.00% 31.5¢ chimeric therapeutics limited

CHIMERIC THERAPEUTICS LIMITED IPO Analysis

  1. 663 Posts.
    lightbulb Created with Sketch. 307
    From Media articles , Prospectus and Company announcements

    https://www.copyright link/companies/healthcare-and-fitness/biotech-veteran-paul-hopper-s-car-t-start-up-set-for-asx-debut-20210105-p56rvj

    https://unauthorised investment advice/health/heres-what-asx-stockspert-bhavdip143-likes-so-much-about-the-35m-chimeric-ipo/

    https://www.chimerictherapeutics.com/


    Offer Price $0.20
    Existing Shares Pre money ( Including con notes ) 154 mil
    Shares under Escrow Arrangement 134 Mil
    SOI 330 mil
    Mcap 66 mil

    Chimeric Therapeutics is developing ground-breaking CAR T cell therapies for solid tumors based on research at the City of Hope Cancer Centre in Los Angeles. The technology known as CLTX-CAR T, uses Chlorotoxin, a peptide discovered in scorpion venom, as the tumor targeting component of the CAR to reprogram T cells and is currently undergoing Phase 1 clinical trials at City of Hope in Glioblastoma.

    What is Glioblastoma (GBM)?

    GBM is the most common and most aggressive type of primary brain tumor, and one of the least curable of all human cancers.
    CLTX-CAR T seeks to address the unmet medical need for effective therapy against high grade malignant Glioma and Glioblastoma (WHO grade III-IV)
    Despite aggressive standard-of-care therapy, tumor recurrence is almost inevitable and uniformly lethal.
    GBM has a 5-year relative survival of 5% Median overall survival for GBM following first recurrence is estimated to be 5-8 months.
    Furthermore, there is no standard-of-care for treating recurrent GBM, and the current treatment options include additional surgery, bevacizumab, nitrosourea, lomustine, temozolomide rechallenge, carmustine wafers, or experimental therapies.

    Why CLTX-CAR T is unique ?

    The Chlorotoxin (CLTX) peptide is a novel tumor recognition domain that extends the range of CAR T cell targeting of solid tumors.
    For glioblastoma (GBM), CLTX-CAR T cells differ from other GBM-targeting Immunotherapies by its broad recognition of patient tumors and of the majority of cells within these tumors.
    CLTX peptide has been clinically tested as a radiotherapy delivery conjugate and as an imaging agent in fluorescence-guided surgery for recurrent/refractory GBM.
    The CLTX-CAR builds on City of Hope’s clinical expertise in brain cancers and CAR T cell therapies. It has strong IP protection.

    https://hotcopper.com.au/data/attachments/2816/2816400-dd0bce674ad6c860fd27abfb1640ad83.jpg


    Phase 1 Study – Glioblastoma

    • Investigator Sponsored Study
    • First two patients dosed September & October 2020
    • Approximately 18 patients
    • Recurrent/progressive Glioblastoma
    • Determine the maximum tolerated dose schedule (MTD) and a recommended Phase 2 dosing plan (RP2D)
    • Estimate: six month progression free survival (PFS) rate; nine month overall survival (OS) rate: median overall survival (OS)
    https://hotcopper.com.au/data/attachments/2816/2816369-ae71831c8262a3825f6375a612c78a28.jpg


    https://hotcopper.com.au/data/attachments/2816/2816376-5ce85a7debab1b07e12eafe9811506e6.jpg

    According to company presentation Phase 1 ..1st patient update in March 2021.. It will be the huge milestone for the company.


    Management :

    Management is the most integral part of any Biotech company. IMO Chimeric got one of the best management and the most efficient scientific advisory board in ASX mid cap biotech space.

    Paul Hopper
    Executive Chairman

    Paul Hopper is the Founder of Chimeric Therapeutics. He has over 25 years experience in the biotech, healthcare & life sciences sectors. Focused on start-up and rapid growth companies, he has served as either Founder, Chairman, non-executive director, or CEO of more than fourteen companies in the US, Australia and Asia. Previous and current Boards include Viralytics( (sold to Merck in 2018 for $500m) , Imugene( ASX IMU 550 mil Mcap) , Prescient Therapeutics and Polynoma( wholly owned subsidiary of HKG:0775 ). His experience covers extensive fund raising in US, Australia, Asia and Europe, and he has deep experience in corporate governance, risk and strategy. He also has many years experience in providing corporate advice and guidance, financial analysis and management of companies of differing sizes and financial circumstances.

    Jennifer Chow
    Chief Operating Officer


    Until recently Ms Chow was Head of Global Marketing, Analytics and Commercial Operations at leading global CAR T company Kite Pharmaceuticals (acquired by Gilead Sciences in 2017 for US$11.9bn). Ms Chow was responsible for assessing and prioritizing research and external assets for development, ensuring optimal clinical development of the Kite pipeline for global commercialisation. Ms Chow has more than 20 years of commercial strategy and marketing experience focused in cellular therapy, hematology and oncology. Formerly Ms Chow was the Global Cell Therapy Commercial Lead at Celgene Corporation (NASDAQ:CELG) and was responsible for designing and developing the global CAR T commercial strategy and operating model. Ms Chow was also formerly at Roche (SWX:RO), Nycomed/Takeda (TYO:4502) and Schering Canada.


    Dr Syed Rizvi
    Chief Medical Officer


    Until recently Dr Rizvi was one of the founding executive team at NASDAQ listed global CAR T company Legend Biotech, where he was head of the CAR T program serving as VP Clinical Development and Medical Affairs. Dr Rizvi is a CAR T specialist with more than 20 years of oncology drug development experience, including taking drugs through regulatory approvals and commercial launches. Formerly he was head of the CAR T and immuno-oncology program at Celgene Corporation (NASDAQ:CELG) serving as Global Medical Affairs and head of Hematology for US Medical Affairs. Dr Rizvi previously also held global clinical leadership roles in oncology programs at Novartis (SWX:NOVN) and Merck (NYSE:MRK).

    https://hotcopper.com.au/data/attachments/2816/2816392-f9e9ed34c880507a67b5617ff6b58044.jpg



    Recent Notable CAR T Transactions

    https://hotcopper.com.au/data/attachments/2816/2816404-c56a5ba479fe4a2a7ebdf5c8d8d10f1f.jpg
    Pre-Clinical CAR T Transactions

    https://hotcopper.com.au/data/attachments/2816/2816413-034d7e8b9ec74b6331e4f0fbe3bfa26c.jpg
    Just to note here , Chimeric is much more advanced than all 4 pre clinical companies above and Chimeric's valuation of 30 mil EV is the cheapest from all 4 companies mentioned above !


    Conclusion

    As an investor, One come across a lot of opportunities in different sectors but its extremely rare to get an opportunity to invest in a company like Chimeric at this cheap valuation. At 30 mil EV , We have a company here which can change how our common enemy called cancer will be treated in the future . Personalized Immunotherapy using CAR T cells is one of the hottest sector globally ( As per the examples given above ) . Management consist of the best sector leaders and Car T therapy experts.

    Considering all the things I discussed above and also looking at really tight capital structure ( Only 20 mil Existing shares are not escrowed) , IMO Chimeric should open around 40c to 45c and In March if we will get encouraging 1st patient data , It can easily touch $ 1

    Also looking at all the transactions happening worldwide in Car T therapy sector , I am very confident about Chimeric becoming one the hottest take over target.

    It was extremely hard to get a decent size in Chimeric IPO. They had $ 90 mil + bids on the day it opened for subscription.It was open and closed quickly.

    Subject to price and market condition , I intend to hold Chimeric for medium to long term.

    GLTAH

    ALL IMO

    Please DYOR

    Cheers

    Bhavdip

 
watchlist Created with Sketch. Add CHM (ASX) to my watchlist
(20min delay)
Last
31.5¢
Change
0.015(5.00%)
Mkt cap ! $104.1M
Open High Low Value Volume
31.0¢ 32.5¢ 30.5¢ $231.8K 730.1K

Buyers (Bids)

No. Vol. Price($)
3 62353 31.5¢
 

Sellers (Offers)

Price($) Vol. No.
32.5¢ 88066 5
View Market Depth
Last trade - 16.11pm 25/02/2021 (20 minute delay) ?
(live)
Last
32.0¢
  Change
0.015 ( 6.67 %)
Open High Low Volume
31.0¢ 32.0¢ 30.5¢ 186848
Last updated 15.56pm 25/02/2021 (live) ?
CHM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.