Research from Redeye, Redeye AB

Redeye

Research from Redeye

Redeye AB

Specialists in innovative and fast-growing Nordic companies within Life Science and Technology.

Redeye is the next generation equity research and investment banking company, specialized in Life Science and Technology. We are the leading provider of Corporate Broking and Corporate Finance in these sectors.

Our clients are innovative growth companies in the Nordics and we use a unique Rating model based on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the Swedish Financial Authority (Finansinspektionen).

Equity Bottom-Up

Alzinova AB is a Swedish clinical-stage biopharma company that develops immunotherapies for the treatment of Alzheimer's disease. Its lead product candidate is ALZ-101, a therapeutic vaccine for Alzheimer's that has completed a phase 1b study. The company is also developing ALZ-201, a monoclonal antibody that targets and neutralizes the neurotoxic forms of the peptide Aß42, known as oligomers, which are considered a primary cause of Alzheimer's disease.

<ul><li>Redeye comments on the final outcome of Alzinova's rights issue.</li><li>The issue was subscribed to about 86.2% and brings in roughly SEK44m before issue costs.</li><li>As such, the outcome was slightly better than our previous assumption.</li></ul>

Redeye comments on the final outcome of Alzinova's rights issue.The issue was subscribed to about 86.2% and brings in roughly SEK44m before issue costs.As such, the outcome was slightly better than our previous assumption.

Alzinova: Rights issue subscribed to 86.2%

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Novartis AG manufactures pharmaceutical and consumer healthcare products. The Company uses innovative science and digital technologies to create transformative treatments in areas of great medical need. Novartis offers patent protected prescription medicine and generic pharmaceuticals and biosimilars.

<ul><li>Novartis is making another major bet on Chinese biotechnology, agreeing to pay Abogen Biosciences $575 million upfront for worldwide rights to its lead drug candidate, ABO2203, alongside options on additional medicines from Abogen’s RNA platform.</li><li>If every option is exercised and development milestones are achieved, total payments could reach roughly $7.8 billion.</li><li>That headline number is eye-catching, but the bigger story extends far beyond a single experimental drug.</li></ul>

Novartis is making another major bet on Chinese biotechnology, agreeing to pay Abogen Biosciences $575 million upfront for worldwide rights to its lead drug candidate, ABO2203, alongside options on additional medicines from Abogen’s RNA platform.If every option is exercised and development milestones are achieved, total payments could reach roughly $7.8 billion.That headline number is eye-catching, but the bigger story extends far beyond a single experimental drug.

Novartis Bets $7.8 Billion On Chinese Biotech—Could This Be Its Next Blockbuster Engine?

OncoZenge AB (publ), a pharmaceutical company, engages in the a development of treatment for pain relief in patients suffering from oral pain caused by radiation therapy and chemotherapy for cancer in Sweden. It offers BupiZenge, which is in Phase 3 clinical trials for the treatment of pain in the oral cavity. The company was incorporated in 2020 and is headquartered in Bromma, Sweden.

<ul><li>Redeye comments on yesterday’s announcement that OncoZenge’s rights issue has concluded, with combined subscription of approximately 92% and gross proceeds of around SEK30.7m before transaction costs.</li><li>Notably, the guarantee commitment was not required, as demand from existing and new shareholders alone covered the vast majority of the offering.</li><li>The outcome secures financing for the continued execution of the pivotal Phase III BEAM-Pain trial and the subsequent MAA preparations, broadly in line with our previous assumptions.</li></ul>

Redeye comments on yesterday’s announcement that OncoZenge’s rights issue has concluded, with combined subscription of approximately 92% and gross proceeds of around SEK30.7m before transaction costs.Notably, the guarantee commitment was not required, as demand from existing and new shareholders alone covered the vast majority of the offering.The outcome secures financing for the continued execution of the pivotal Phase III BEAM-Pain trial and the subsequent MAA preparations, broadly in line with our previous assumptions.

OncoZenge: Rights issue concludes at ~92% subscription

External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

NexAI Digital Infrastruktur / Equity Bottom-Up

NexAI Digital Infrastruktur Tbk PT designs and manufactures home furnishing products. The Company offers lighting, wardrobes, cabinets, kitchen and sanitary appliances, and interior decor items. NexAI Digital Infrastruktur Tbk serves customers in Indonesia.

<ul><li>NexAI Digital Infrastruktur (MGLV IJ)Emerging Data Center Player MGLV’s Nextier Datamate Center (NDC) led the pivot into AI data center, funded by a Rp2.54tr rights issue &amp; Rp4tr shareholder loan.</li><li>102MW of capacity is slated for 2Q27 in Jababeka and Batang, backed by self-built substation, with path to scale toward 900MW.</li><li>We see the 102MW base to be already priced in; further upside rests on the capacity ramp driven by Zankore's deployment. A backdoor transformation into AI data center </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

NexAI Digital Infrastruktur (MGLV IJ)Emerging Data Center Player MGLV’s Nextier Datamate Center (NDC) led the pivot into AI data center, funded by a Rp2.54tr rights issue &amp; Rp4tr shareholder loan.102MW of capacity is slated for 2Q27 in Jababeka and Batang, backed by self-built substation, with path to scale toward 900MW.We see the 102MW base to be already priced in; further upside rests on the capacity ramp driven by Zankore's deployment. A backdoor transformation into AI data center Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NexAI Digital Infrastruktur (MGLV IJ) Emerging Data Center Player (NOT RATED)

<ul><li>Redeye comments on Alzinova’s announcements of the operational start-up of the global Phase II study for ALZ-101 and a SEK51m rights issue, securing funding to advance the program.</li><li>We view the progress as being operational positive, but also acknowledge the capital requirements and financing risk related to proceeding with the study independently.</li><li>We believe that this makes the upcoming Phase II program an increasingly important value inflection point.</li></ul>

Redeye comments on Alzinova’s announcements of the operational start-up of the global Phase II study for ALZ-101 and a SEK51m rights issue, securing funding to advance the program.We view the progress as being operational positive, but also acknowledge the capital requirements and financing risk related to proceeding with the study independently.We believe that this makes the upcoming Phase II program an increasingly important value inflection point.

Alzinova: Phase II study update and SEK51 rights issue

Rights Issues
Corporate rights issuance analysis

Alzinova: Rights issue subscribed to 86.2%

Redeye comments on the final outcome of Alzinova's rights issue. The issue was subscribed to about 86.2% and brings in roughly SEK44m before issue...

Redeye

Novartis Bets $7.8 Billion On Chinese Biotech—Could This Be Its Next Blockbuster Engine?

Novartis is making another major bet on Chinese biotechnology, agreeing to pay Abogen Biosciences $575 million upfront for worldwide rights to its...

Baptista Research

OncoZenge: Rights issue concludes at ~92% subscription

Redeye comments on yesterday’s announcement that OncoZenge’s rights issue has concluded, with combined subscription of approximately 92% and gross...

Redeye

NexAI Digital Infrastruktur (MGLV IJ) Emerging Data Center Player (NOT RATED)

NexAI Digital Infrastruktur (MGLV IJ)Emerging Data Center Player MGLV’s Nextier Datamate Center (NDC) led the pivot into AI data center, funded by...

BRI Danareksa Research

Alzinova: Phase II study update and SEK51 rights issue

Redeye comments on Alzinova’s announcements of the operational start-up of the global Phase II study for ALZ-101 and a SEK51m rights issue,...

Redeye