Three of Ergomed’s co-development partnerships are on track to deliver clinical data in 2016 with the fourth in 2018. We have removed Synta from our valuation following the termination of its Phase III trial in October 2015, reducing our target price from 290p to 281p. We continue to favour Ergomed’s hybrid business model of services provision and codevelopment, which provides low-risk exposure to ongoing drug development programmes. We believe additional co-development partnerships will be esta ....
