The boards of directors of HOOKIPA Pharma Inc. and Poolbeg Pharma (POLB) announced that they have entered into non-binding discussions for an all-share acquisition by HOOKIPA of Poolbeg to create a strong clinical-stage biopharmaceutical company focused on developing and commercialising innovative medicines for critical unmet medical needs, with a special focus on next-generation immunotherapies for the treatment of cancer and other serious diseases.
HOOKIPA is expected to undertake a 100% primary private placement fundraise of up to approximately $30 million which will be funded into HOOKIPA immediately following the completion of the Potential Combination in order to provide sufficient capital for the enlarged business to realize meaningful expected value inflection points.
Comment: Why any UK company would wish to leave the LSE, its cost, red tape, negative attitude, lack of liquidity, and the new Labour government, to team up and scale up with a US partner on the NASDAQ remains something of a mystery.
Coinsilium Group (AQUIS: COIN) the Web3 investor, advisor, and venture builder announced that it has entered into a strategic collaboration agreement with investment portfolio company Otomato Inc, a pioneering Web3 technology platform specialising in autonomous agent-based solutions. The Collaboration aims to leverage Otomato’s cutting edge technologies to maximise the return potential of Coinsilium’s existing and future digital asset treasury holdings.
Comment: Given that the market is currently shining a light on COIN, and crypto, it makes sense for it to press ahead on an area which arguably will be the picks and shovels of what will happen next in the digital space: Web3.
Quadrise (QED), the supplier of innovative energy solutions for a cleaner planet, announced the signature of an agreement between the European Climate, Infrastructure and Environment Executive Agency and SEASTARS, a consortium of 17 companies which includes Quadrise. QED said it was delighted to have joined the SEASTARS consortium, which will demonstrate the benefits of bioMSAR™ and our Blend-On-Board technology to a much wider audience, whilst our participation in the Horizon project will deepen our combined knowledge in this important area of marine decarbonisation.
Comment: Although something of a filler RNS, QED is nevertheless reminding us that this autumn was transformational for the company both fundamentally and in terms of the share price, and that the momentum is set to continue.
Contango Holdings (CGO), a company focused on unlocking value from the +2 billion tonne Muchesu coal project in Zimbabwe, confirmed it has now received its first royalty payment of US$200,000 and expects to receive a further US$800,000 this month. Combined these will bring total royalty receipts to US$1,000,000 as envisaged and previously reported under the Mineral Royalty Agreement. CGO said this milestone marks a significant step forward in unlocking the immense value of the Muchesu coal project. The receipt of our first royalty payment not only underscores the confidence our partners have in the project’s potential but also reinforces our commitment to delivering consistent value for our shareholders. With the operational foundations now firmly in place, we are excited about the continued progress and growth opportunities ahead.
Comment: We have lost the Queen and Jimmy Carter, waiting for CGO to one day get to the moment announced today. This is better than white smoke over the Vatican, and the Man From Del Monte saying yes combined. Indeed, something like landing on the moon.
Celadon Pharmaceuticals (CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, updated on its financial position. The Company can confirmed the provider of the Committed Credit Facility has now transferred an additional £147k under the Company £1m draw down request. The Company expects to receive the remaining £103k that is outstanding under the draw down during January 2025.
Comment: While we know from Tesco that “Every Little Helps”, what we do not quite know is how CEL’s dribs and drabs will payments help its overall situation, or whether this is too little too late?
To directly support and accelerate the Company’s global licensing and partnership strategy to bring its non-invasive, cost effective, CIZ1B biomarker lung cancer blood test to market in 2025, Cizzle Biotechnology (CIZ), the UK based diagnostics developer, announced that Professor Dawn Coverley, Founder and Non-Executive Director of Cizzle Biotechnology has, with immediate effect, been appointed Chief Scientific Officer, an executive role on the board of the Company.
Comment: While we congratulate the professor on her new role, the main thing that the company has needed since it came to market is an evangelist for the cause, to explain to the market the investment proposition and the importance of what it is doing. Only then will CIZ attain a serious valuation.
Emmerson (EML), the Moroccan focused potash development company, announced that it has signed a Capital Provision Agreement with a specialist litigation funding firm to provide up to US$11,000,000 in both litigation finance capital and working capital for the Company (the “Funding”) and has confirmed Boies Schiller Flexner LLP as its litigation counsel. The Company has also put a Management Incentive Plan into place.
Comment: After allegedly getting ripped off by the Moroccans, or at least messed around, receiving litigation funding will feel like a win even before its starts. This is largely because lawyers are not famous for throwing good money after bad.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion
