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They held the EGM today. As usual (and I love this) David Williams (the Chair) made a few points and then opened it up to some questions.
Here are some notes I took:
Some observations:
What did others think?
Inoviq announced today that their process to isolate brain-derived exosomes from a blood sample can be used to detect Parkinson's disease. In July they said they had similar success isolating markers for Alzheimers.
The process increases bio-markers by 5 to 8 times when compared with unprocessed blood, which implies diseases might be detected earlier.
To quote Paul Keating, "it was the [capital raise] we had to have".
Presentation:
https://www.inoviq.com/site/showdownloaddoc.aspx?AnnounceGuid=3d041112-e91d-4fd1-8882-2db8921f2c4f
Offer Documents:
https://www.inoviq.com/site/showdownloaddoc.aspx?AnnounceGuid=89fdc72a-c518-4b33-b03b-2b2639804138
Random annoucement regarding NEURO-NET™ technology that can isolate brain-derived exosomes in Alzheimer’s Disease
https://www.inoviq.com/site/showdownloaddoc.aspx?AnnounceGuid=482a4a6d-cd16-4863-b015-ee6cd034d0f1
So the Cap Raise summary:
Some other points to note:
I have scanned the other docs...nothing stood out as different to what i remember.
Will I particpate in the SPP?
Probably no....I took a big swing at IIQ a while ago. I am currently down about 50%. I'm happy with the amount I currently hold. Even though I will be diluted.
I believe in the tech that IIQ has...but i am really starting to question the management team...and David Williams.
So IIQ are annoucing that they have developed a theraputic that uses their exosome technology to isolate and kill 75% of breast cancer cells. And they will continue to refine to make it more effective.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02813276-3A643581
But I am confused. This was already mentioned in Slide 14 of the April 2024 Investor Update?
https://www.inoviq.com/site/pdf/6e5c1044-23c2-4388-b0ed-7bbbe1660dbf/INOVIQ-Investor-Update.pdf
Don't get me wrong....i think this is a great potential product. But what is new in this annoucement?
Some other thoughts:
I thought with David on board now....we would get these annoucements made more commercial/easier to sell to the market. Hopefully this will improve soon.
I think the team at IIQ are doing a great job with the science. But I do think they need to hire a commercial guy to help Leearne. Take the commercial pressure off her, and let her focus on the science team. I don't think we can expect David Williams (the Chair) to be able to do this heavy lifting. He has many other board roles and his day-to-day job in M&A as well.
Come one IIQ - Hire someone to help Leearne.
IIQ released their SubB2M Overian Cancer Blood Test - Results from Validation.
The results were good. Bascially the same as the current test available to patients.
BUT.....the part of the news that seems to be missing....this is a test that uses a blood test and not an invasive test by taking a tissue smaple from the overies. Remember this is a monitoring test. So the patient will have already be diaognised with Overian Cancer. And these tests are to monitor for reoccurance. Imagine have a sample taken every 6-12 months with an invasive sample taken from the overy? So this blood test will be massive for all these patients.
AND....we had similar lower results at this stage of the validation process for the SubB2M Breast Cancer test. IIQ were able to refine the test to improve the results.
The market seems to have not liked this result. And I don't think IIQ have marketed this result very well. k
Still a believer in IIQ...but they are frustrating sometimes. We need a big instiution to start buying or take a large stake. Also the way David has written his slide deck....feels like he is pitching towards a big pharma perhaps acquiring IIQ. I would almost be happy if they bought us at about $2-3. Because it is going to take years to scale, even with the great technology IIQ has....
IIQ released their slides for tomorrow's presentation (18 April 2024 at 11am).
https://www.inoviq.com/site/pdf/6e5c1044-23c2-4388-b0ed-7bbbe1660dbf/INOVIQ-Investor-Update.pdf
I don't see much new news. BUT
Reading between the lines/slides.....i def think they have been using this slide pack to present to institutions for the impending capital raise.
The following slides are new:
Slide 3 - This is their "Snap shot" slide up front. For the boss to look at in a fund before signing off.
Slide 5 - This explains the IIQ journey....very typical when explaining to and institution that has no background knowledge.
Slide 26 & 27 - Shows to the institution how similar deals have played out (Therapeutic and diagnostic).
So things are def happening in the background.
I have also sent an email to David Williams with some questions I was hoping he could answer during the webinar (note the numbering I sent him was correct...the copy and paste below has lost the number order):
For those interested, here is the link to the Investor Webinar for IIQ.
Thursday, 18 April 2024 Time: 11:00 AM AEST
Registration: https://us06web.zoom.us/webinar/register/WN_f-EiRW0GSNi1L5V4GgSCjw
IIQ just released an ASX Annoucement regarding a deal they have signed with Promega in USA to distribute and sell their Exo-Net product. See link here:
Some points to note:
I took some notes from the interview as follows:
I spoke with Strawman after via emails. And we both think David got a bit sidetracked in the IIQ part of the chat.
I think if you are new to IIQ, I don't think David sold it particularly well. Also if you are doing research on IIQ, their website is terrible and does not explain their technology, apporach to market or the scale of the opportunity.
I would suggest it is best to look at some of their recent presentations like:
Also the interview with Alan Kohler is a little old now, but gives some good background (note they were called BARD1 previously BD1):
LINK TO INTERVIEW WITH ALAN KOHLER
Things to look out for in the near future with IIQ:
I'm hoping that 2024 is the year that IIQ can start to get some sales and build market share. I think of IIQ today, like PNV was about 6-8 years ago (not sure of the exact time frame). But it is early days....with a lot of promise. There are a lot of potential competitors....but when i cut through all their marketing BS....IIQ is def in a better position with better technology and more advanced.
Cheers
John (aka Parko)
Following on from DW's comments in the Strawman meeting about platforms an extension of the agreement to distribute the EXO-NET platform from IIQ. "I am impressed with Promega’s intended approach to marketing by leveraging AI to gain broader reach in presenting the benefits of scalable and efficient exosome isolation to researchers worldwide.”
Building upon last year’s successful Co-Marketing Agreement (ASX: July 6, 2023), this agreement extends the commercial relationship between INOVIQ and Promega.
The agreement grants Promega rights to market, distribute, and sell INOVIQ’s EXO-NET PanExosome Capture products, with an expected first order imminent.
The agreement is worldwide, allowing researchers and industry easy access to exosome research tools and solutions.The initial term is three years.
The companies jointly developed the high-throughput EXO-NET system and successfully delivered several scientific posters, conference presentations and webinars that received excellent feedback. Promega will use this knowledge to promote our products in market and thereby hit the ground running.
Definition: Exosomes are extracellular vesicles generated by all cells and they carry nucleic acids, proteins, lipids, and metabolites. They are mediators of near and long-distance intercellular communication in health and disease and affect various aspects of cell biology.
As expected....good news:
"In a 2023 clinical validation study (n=483), INOVIQ’s SubB2M/CA15-3 test detected over 80% of breast cancers across all stages with 93% specificity. The recently completed monitoring study showed INOVIQ’s test detected breast cancer across key cancer subtypes, correctly identified 19% more breast cancers than a leading approved test and was effective for monitoring breast cancer. The Company intends to use these results to attract a partner to speed up the commercialisation of the test. "
Nice bump in SP. Still a long way to go. But loads more cancer detection product study results coming up (overian cancer detection up soon). And theraputics using exosomes. Alot to like about IIQ.
I think after the overian news, David Williams will do a cap raise to accelerate commercialisation (like he allueded to in the AGM). No idea how large...maybe $20m?
If you want a 'new PNV' IIQ may be worth researching. Happy to answer any questions.
John
https://www.inoviq.com/site/pdf/3c43cb86-8d99-4414-8fcf-ab258ecacee0/Appendix-4C-and-Quarterly-Activities-Report-December-2023.pdf
I was annoyed that the SubB2M Breast final results were not announced as promised by the end of 2023. But they have explained why in the latest Quarterly.
"The monitoring study is being undertaken at contract research organisation ResearchDx and was expected to complete in December 2023. Supplier logistics issues and the holiday period delayed study completion with INOVIQ now expecting to finalise data analysis and report results in February 2024."
Sh!t happens. But i find that in biotech, scientists just cannot meet timelines. I know that science is not linear etc. But it still annoys me. These guys have, i would have throught, a pretty easy job just to verify etc. So the schedule to complete should be fairly predictable.
Anyway....the rest of the Quartelry is pretty much the same as the AGM.
But this caught my eye:
"Exosome therapeutics During the quarter, INOVIQ commenced its in-house exosome therapeutics program including preparing data for its EXO-ACE technology for therapeutic exosome isolation, gaining its Office of the Gene Technology Regulator (OGTR) license to enable engineering of exosome-producing cell lines to target and treat cancer, and performing initial in vitro studies to evaluate the efficacy of engineered exosomes in breast cancer. Initial data showed over 75% killing activity of engineered exosomes to kill breast cancer cells."
Wow! This is a really new potential product line (only announced at the AGM). And i'm not sure that 75% is that great. But i'm sure they can refine it and make it better. But Exosomes are the future....and IIQ seem to be leading the field.
Cheers
Parko
So i listened to the IIQ AGM with David WIlliams as the new incoming Chair. Here is the link:
https://www.youtube.com/watch?v=ywW_4ANdfF8
Key Points:
And there was a bunch of stuff that was not in the presentation. So some notes from the meeting are as follows:
Again...nothing moves quick in Biotech. But there has been significant forward movement in lots of their products. And very shortly we are due an annoucement regarding the SubB2M breast cancer diagnostic commercialisation. This should see a bump upwards in the SP.
Parko
Today was the AGM for IIQ. Nothing new to report except that they continue to tick all the boxes with their products.
And there is likely to be an annoucement before Xmas that their SubB2M Breast Cancer monitoring test is ready for commercialisation! I would expect a decent jump in SP. Don't forget how tightly held this stock is.
For those interested, read today's presentation. Explains it all.
https://www.inoviq.com/site/pdf/f3605511-e6dd-418a-a566-4609b65f626f/2023-AGM-CEO-Presentation.pdf
Any questions ask me and I will try to answer.
Cheers
Parko
IIQ’s products can be split into three categories:
Disclosure – I took a big swing at IIQ and am currently down 50%. But I keep seeing positive steps towards IIQ fulfilling their potential and have never sold a share.
Love to hear what others think of IIQ.
Parko
Broker report commissioned by IIQ. "We value IIQ at A$195m or A$2.11 per share (undiluted), using a risk-adjusted net present value (rNPV) method to discount future cash flows through to 2043, consistent with the expiry life of patent families. "
No projection of +ve cashflow up to CY24. A long term hold for me in RL and SM
EXCELLENT SUBB2M BREAST CANCER TEST DATA
• Griffith University releases additional data on BARD1’s SubB2M technology showing 100% specificity and over 95% sensitivity for detection of all stages of breast cancer
• BARD1 aims to develop and commercialise SubB2M-based blood tests for breast cancer to enable earlier detection, inform treatment decisions and improve women’s health outcomes
OUTSTANDING SUBB2M OVARIAN CANCER TEST DATA
~ Griffith University releases data on BARD1’s SubB2M technology showing 100% specificity and sensitivity for detection of all stages of ovarian cancer
~ Paper presenting this data at the Australia New Zealand Gynaecological Oncology Group (ANZGOG) Conference 2021
Melbourne, Australia, 11 February 2021: BARD1 Life Sciences Limited (ASX:BD1) (BARD1 or the Company) is pleased to announce that Griffith University’s Institute of Glycomics has released data showing that SubB2M can be used to detect all stages of ovarian cancer with 100% specificity and 100% sensitivity.
SubB2M is a protein that binds specifically to a sugar molecule called Neu5Gc which is present on a range of cancers. In humans, Neu5Gc is only found on human tumour cells and tumour-associated molecules, potentially making Neu5Gc a highly specific pan-cancer biomarker. BARD1 holds the exclusive worldwide license for the use of SubB2M to detect any cancer.