The Biodexa Presentation for Roadshows Our Bioasis wife announced only yesterday that she was splitting up with us and the new guy has already moved in.
30 pages and very little about xB3. Lots about EGF and Midatech's stuff, but only one xB3 program, Hunter syndrome. I cannot bring myself to believe that this bunch has plans for xB3 other than to take it private.
As I have expressed many times, I'm very sceptical of Bioasis's Hunter syndrome play. Denali is way ahead of Bioasis and JCR Pharmaceuticals of Japan already has theirs approved in Japan and is on the way to approval here. I've always suspected it's one of Chiesi's LSDs, held in storage so that one of Chiesi's 4 secret LSDs wasn't revealed by removing xB3-008 from the pipeline when the Chiesi deal was announced.
There are only a title page and two other pages about xB3 in this new presentation. If xB3 works, it could be worth billions and they all know it, and yet its potential value is not being promoted to sell this deal to anybody.
It's like, oh, yeah, this xB3 thing comes free with the deal. They're downplaying xB3. It's an absolutely awful feeling after all this time. Oh, but Biodexa will have xB3 programs! Yeah, sure, little ones.
There is no mention in the presentation about xB3-001 (Herceptin), xB3-004 (IL1-Ra), progranulin, or any of the other programs that Bioasis used to tout.
I told you all that Bioasis was underplaying xB3. For the last year I've been telling you that.
By the way, on page 7, the Bioasis deals are "detailed." Prothena is included. I don't really think that Prothena has much going on, maybe nothing. And as we know, they let their options go. And yet, the folks who put this presentation together say that the Prothena deal has the potential to bring in up to $30 million in proceeds. That was the original deal with a main target and 3 optional targets. The $30 million was spread around through all 4 of those targets. Those optional targets are gone. They expired on July 31, last year.
This corporate presentation is half baked, then fried, rolled in sugar, and dipped in gravy. It's bad for your health.
And yet I'm sure there is more to discover about it.
Does anybody sense that the BoD and Dr. Deborah Rathjen are abrogating their fiduciary duties with this deal?
Where is xB3??
If they don't want it, can some of us put together a little group and buy it?
Nope. They have big plans for xB3.
jd