NEW YORK, NY / ACCESSWIRE / June 8, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm
focused on small-cap and micro-cap public companies, today announced it has issued an update on Avant Diagnostics, Inc. (OTCQB:
AVDX).
The report is available here: AVDX June Update Note. SeeThruEquity is an approved equity research contributor on Thomson First
Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to
Thomson Estimates, the leading estimates platform on Wall Street.
"We are encouraged by management's ability to close the transaction, which promises to be beneficial for all three entities,
given that each were struggling to advance their molecular diagnostic pipelines on their own. The combined company, however, now
offers a promising pipeline of four molecular diagnostics initially targeting ovarian cancer, Alzheimer's disease (AD), multiple
sclerosis (MS), and breast cancer, as outlined in the table below. Avant's acquisition of Theranostics Health will also allow it to
gain access to the appropriate CLIA/CAP infrastructure required to commercialize its diagnostics pipeline and its small but growing
pharmaceutical services revenue stream.," commented Ajay Tandon, CEO of SeeThruEquity.
Additional highlights from the note are as follows:
Acquisitions of Amarantus Diagnostics and Theranostics close
On May 12, 2016 Avant announced that it had completed the acquisitions of Amarantus Diagnostics, a wholly-owned subsidiary of
neurology and regenerative medicine biotech Amarantus Biosciences Holdings (AMBS), and certain assets and liabilities of
Theranostics Health, Incorporated, which develops proteomic technologies for measuring the activation status of key signaling
pathways for molecular diagnostics. The acquisitions were announced in January, and closed on the terms that were expected. As part
of the deal, former Thernostics Health CEO Glenn Hoke, PhD, will join Avant as Chief Scientific Officer, and Amarantus CEO Gerald
Commissiong will joint Avant's Board of Directors.
Transaction enhances pipeline, transformational for Avant
We are encouraged by the transaction, which should be transformational for Avant, and accelerate the development goals of all
three entities. Indeed, while both Amarantus and Avant company were facing obstacles to advancing their molecular diagnostic
pipelines on their own, the combined company now truly has a portfolio of molecular diagnostics, with one FDA-approved diagnostic
in Theranostics Health's TheraLink® Assay for breast cancer, and three molecular diagnostics in development, including OvaDx® for
ovarian cancer, LymPro Test™ for Alzheimer's disease (AD), and MSPrecise™ for multiple sclerosis (MS). Importantly, Avant's
acquisition of Theranostics Health will also allow the combined company access to CLIA/CAP infrastructure required to commercialize
its diagnostics pipeline, as well as well as its small but growing pharmaceutical services revenue stream.
Maintain price target of $2.97 at this time
We are maintaining our price target of $2.97 for AVDX at this time, as these transactions were contemplated in our initial piece
on the company. We are excited about the prospects for the combined company, which now has a compelling pipeline of four molecular
diagnostics and a case to raise funds for future development of a molecular diagnostics-focused growth company. We will review our
estimates and price target following the issuance of the combined company's results and outlook.
Please review important disclosures at www.seethruequity.com.
About Avant Diagnostics, Inc.
Avant is a medical diagnostic technology company that specializes in biomarker tests that are being developed in the areas of
oncology and neurology. Avant provides personalized medicine diagnostic testing capabilities through its TheraLink® Diagnostic
Assays, primarily for breast cancer, to assist clinical oncologists in identify likely responders for roughly 30 FDA-approved drug
treatment regimens through its CLIA/CAP. Avant is the leading developer of proteomic technologies for measuring the activation
status of key signaling pathways across several different cancer types, including breast, ovarian and pancreatic that are
instrumental in the development of companion diagnostics for molecular-targeted therapies. Avant has used these proteomic
technologies to support the drug development programs of many of the top biopharmaceutical companies in the world. For more
information please visit www.theranosticshealth.com.
Avant is also developing OvaDx® for use in monitoring women diagnosed previously with ovarian cancer. OvaDx® is a sophisticated
microarray-based test that measures the activation of the immune system in blood samples in response to ovarian tumor cell
development. Pre-clinical research studies with OvaDx® indicate high sensitivity and specificity for all types and stages of
ovarian cancer including stage IA-IV borderline serous, clear cell, endometrioid, mixed epithelial, mucinous, serous, and ovarian
adenocarcinoma.
Avant's neurology division owns the rights to MSPrecise™, a proprietary next-generation DNA sequencing (NGS) assay for the
identification of patients with relapsing-remitting multiple sclerosis (RRMS) at first clinical presentation, has an exclusive
worldwide license to the Lymphocyte Proliferation test (LymPro Test™for Alzheimer's disease, which was developed by Prof. Thomas
Arendt, Ph.D., from the University of Leipzig, and owns intellectual property for the diagnosis of Parkinson's disease
(NuroPro).
For further information please visit www.AvantDiagnostics.com, or connect with the Company on Facebook and LinkedIn.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market
capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission
based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet,
Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson
Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon SeeThruEquity info@seethruequity.com
SOURCE: SeeThruEquity
