The Investment Column: Chiroscience still seeking a partner
Thursday 02 October 1997
With the drug largely through critical final-stage trials and demonstrably safer than alternatives, it will be filed for approval in Europe by the year-end and in the US next April. So where is the high profile tie-up? Though Dr John Padfield, Chiroscience's chief executive, says he is talking to a variety of potential partners, he hinted yesterday that the final deal might be lower key than people expect.
Rather than a marketing alliance, Chiroscience is considering developing levobupivacaine jointly with a pain management specialist who would also be responsible for marketing. Though a deal with a major drug group would give Chiroscience a useful royalty stream, it might in the end extract less value. With cures for cancer and HIV the holy grails of research, pain control is low priority for many drug majors. Levobupivacaine, with estimated peak sales of pounds 200m, might be too small for them to bother with.
Meanwhile, Chiroscience needs to think about its funding needs. With cash burn running at some pounds 2m a month, the group's cash pile won't last long. Though its attractive drug pipeline could attract more alliances, the fastest way to boost cash reserves would be demerging or selling its profitable ChiroTech business, which solves chemical problems for the fragrances and flavourings industry. The shares, down 4p to 273.5p are fair value.
Lincoln MP Karl McCartney 'denied all knowledge' of the Twitter activity
Detective novelist who wrote Death comes to Pemberley passed away peacefully at her home, aged 94
Sites using the popular Gigya comment platform were attacked by the Syrian Electronic Army (SEA)
- 1 Sean Abbott: Messages of support flood in for bowler following death of batsman Phil Hughes
- 2 Ridley Scott on Exodus, Gods and Kings casting: 'I'm not going to get it financed if my lead actor is Mohammad so-and-so from such-and-such'
- 3 Girl, 7, gets Tesco to remove 'stupid' sign suggesting superheroes are 'for boys'
- 4 This letter from a reader explains why women can’t play football
- 5 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
Black Friday 2014: Opening times for Asda, John Lewis, GAME, PC World and Argos
Miss Honduras Maria Jose Alvarado's stylist Luis Alfredo Garcia is found stabbed to death
Sean Abbott: Messages of support flood in for bowler following death of batsman Phil Hughes
Dr Lam Hoe Yeoh: Voyeur doctor jailed for eight years after using network of hidden cameras to film patients, colleagues and friends on the toilet
'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
Rochester aftermath: Sacking of Emily Thornberry will make work of Labour MPs '10 times harder'
iJobs Money & Business
£30000 - £250000 per annum: Recruitment Genius: A global Rolling Spot FX, Comm...
£Attractive Package: Citifocus Ltd: Chartered accountant (ACA or CPA), must be...
£6000 - £60000 per annum + Bonus and Benefits: Ampersand Consulting LLP: UI De...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...