In today’s briefing:
- Tender Offer of Jeisys Medical by Archimed Group
- Concord Biotech Ltd (CONCORDB IN): Accelerated Growth Ahead; Recent Pullback Comforted Valuation
- Abbvie Inc – Regenerative Healthcare – Stem Cells & ALS Thematic 10062024
- BLRX: First Quarter 2024 Results
Tender Offer of Jeisys Medical by Archimed Group
- On 10 June, it was announced that France’s Archimed Group is conducting a tender offer of 55.72 million shares of Jeisys Medical (287410 KS) (72% of outstanding shares).
- The tender offer period will run from 10 June to 22 July. The tender offer price is 13,000 won.
- Archimed also signed a contract to purchase the entire stake (23.2%) held by Kang Don-Hwan (Chairman of Jeisys Medical) and (3.2%) held by a Director Myung-Hoon Lee.
Concord Biotech Ltd (CONCORDB IN): Accelerated Growth Ahead; Recent Pullback Comforted Valuation
- Concord Biotech Ltd (CONCORDB IN) reported 19% revenue growth in FY24. EBITDA and PAT grew at a faster pace of 26% and 28%, YoY, respectively.
- With focus on deeper market penetration, acquiring new customers, and introducing new products in niche categories, Concord is well-positioned for 25% revenue CAGR in 3–5 years.
- Despite a huge run-up from the IPO price, Concord shares are trading at forward P/E of 38.9x, which is lower than peers.
Abbvie Inc – Regenerative Healthcare – Stem Cells & ALS Thematic 10062024
- Regenerative medicine remains an extremely exciting area of healthcare with vast investment potential.
- In spite of the usual setbacks in valuation and strategy, the sub-sector has pivoted and the market remains innovative and attracts investment capital.
- Rather than replace entire tissues, which is a complex activity, we believe the immediate future for stem cells is more likely to be in the successful stimulation of the bodies on repair mechanisms.
BLRX: First Quarter 2024 Results
- BioLineRx is a commercial stage biopharmaceutical company with a development portfolio advancing motixafortide, a platform molecule targeting indications in stem cell mobilization (SCM) & in the treatment of advanced pancreatic cancer.
- The candidate is approved in the US for SCM and is undergoing studies for use in gene therapy and in pancreatic cancer.
- Partner Gloria Biosciences is developing motixafortide in Asia & is expected to be conducting bridging studies in the near term for SCM and longer-term studies for other indications.
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