London, UK, 2 May 2017
Edison issues outlook on Oryzon Genomics (ORY)
Oryzon has been making steady progress with its epigenetics R&D pipeline. Following positive Phase I/IIa trial results in December 2016, ORY-1001, an LSD1 inhibitor, is now in Roche's hands and the company is focusing on its newer programmes: clinical-stage ORY-2001, a dual LSD1/MAOB inhibitor for neurodegenerative diseases and ORY-3001, a selective LSD1 inhibitor, in advanced preclinical studies in non-cancer areas. We have incorporated the recent EUR18m equity raise into our valuation, which has increased to EUR308m.
We have increased our valuation of Oryzon from EUR266m to EUR308m or EUR9.0/share (from EUR9.3/share) on the back of the recent financing round and higher success probability for AD. The main potential catalysts over the next 12-24 months are progress in the SCLC trial run by Roche, initiation of Phase II trials in neurodegenerative disorders with ORY-2001, new preclinical candidates entering the clinic and delivering first human data.
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