Download the Full 19-Page Report Here >> Oryzon Genomics_Dec 2015
Oryzon is focused on the developing epigenetic-based therapies and personalized drugs from its proprietary platform technology. The pipeline includes one compound in Phase 1/2 in oncology, ORY-1001, a highly potent LSD1 inhibitor with exquisite selectivity that has been granted orphan-drug status by the EMA for acute myeloid leukemia (AML), a second compound expected to enter in clinical development in 2016 for the treatment of Alzheimer's Disease, and additional programs in other cancer indications in various stages of preclinical development.
In April 2014, Oryzon entered into a worldwide collaboration with Roche to research, develop, and commercialize ORY-1001 and/or its backup compounds in return for an upfront payment and near-term milestones totaling $21 million, plus potential development, commercial and sales milestone payments across hematology, cancer and non-malignant indications that could exceed $500 million, together with tiered royalties on sales which range up to mid-double digits.
Management projects cash and investments of approximately €21 million ($22.5 million) on hand at the end of 2015, with a yearly operating burn of approximately €10-12 million for 2016. The company has secured several multiyear research grants and has revolving debt of approximately €6 million available through various commercial banks. Current debt is approximately €10 million.
Oryzon received approval to list on the Spanish Main Market on December 10, 2015. This likely precedes a U.S. equity listing on the NASDAQ or NYSE later in 2016 or 2017. Our valuation work pegs the fair-market value of the shares at approximately $225 million based on comparable and discounted cash flow analysis.