The €12m investment by a leading healthcare investor (Sofinnova Partners), is a strong endorsement of Abivax and anti-inflammatory ABX464 in particular. As highlighted in our recent report (25th June 2019), clinical data to date suggests that ABX464 could take a meaningful share of the $70bn anti-inflammatory market. The unmet potential of the inflammatory market is well illustrated by the recently announced $5.1bn deal between Gilead Sciences Inc. and Galapagos NV. With future financing expected from partnering. the Sofinova investment adds to our confidence for Abivax securing a major licensing deal over the the next 12 months. Now funded until Q2/2020E, we believe the ABX464 data provide a strong basis for licensing to provide development funding thereafter. We reiterate both our OUTPERFORM and €31.30 target price.
16 Jul 2019
Financing provides strong endorsement
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Financing provides strong endorsement
Abivax SA (0RA9:LON) | 0 0 0.5% | Mkt Cap: 83.0m
- Published:
16 Jul 2019 -
Author:
Chris Redhead -
Pages:
5
The €12m investment by a leading healthcare investor (Sofinnova Partners), is a strong endorsement of Abivax and anti-inflammatory ABX464 in particular. As highlighted in our recent report (25th June 2019), clinical data to date suggests that ABX464 could take a meaningful share of the $70bn anti-inflammatory market. The unmet potential of the inflammatory market is well illustrated by the recently announced $5.1bn deal between Gilead Sciences Inc. and Galapagos NV. With future financing expected from partnering. the Sofinova investment adds to our confidence for Abivax securing a major licensing deal over the the next 12 months. Now funded until Q2/2020E, we believe the ABX464 data provide a strong basis for licensing to provide development funding thereafter. We reiterate both our OUTPERFORM and €31.30 target price.