Daily Brief Health Care: Remegen , Evolent Health Inc A, Bicara Therapeutics, Poly Medicure, Actinogen Medical, WuXi XDC Cayman , Ensysce Biosciences , JTEC Corp/Osaka and more

For our next Corporate Webinar, we are glad to welcome RemeGen’s Chief Financial Officer, Mr. Tong Shaojing.

In the upcoming webinar, Tong will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, Eric Wen . The Corporate Webinar will include a live Q&A session.

The Corporate Webinar will be hosted on Thursday, 19 September 2024, 09:00 SGT.

About RemeGen

RemeGen was cofounded in 2008 by Mr. Wang Weidong, founder of Rongchang Pharmaceuticals, a leading traditional Chinese medicine company in China and Dr. Fang Jianmin, a Canadian-American scientist. Headquartered in the coastal city of Yantai Shandong Province of China, RemeGen has research labs and offices throughout China and the United States. RemeGen is committed to the discovery, development, and commercialization of innovative and differentiated biologic drugs of significant clinical value in the key therapeutic areas of autoimmune oncology and ophthalmic diseases.

• Evolent Health, a prominent player in the healthcare industry, has recently garnered significant acquisition interest, making it the focus of sale talks.
• As a company with both strengths and challenges, Evolent Health presents a complex investment thesis.
• On the positive side, Evolent has demonstrated consistent revenue growth, a strong pipeline, and a strategic focus on delivering clinical value through its Performance Suite and Specialty Technology and Services.

• Bicara Therapeutics, a clinical-stage biotech company with focus on the treatment of patients with HPV-negative head and neck cancer, files for a $200M IPO.
• The biotech firm was backed by Biocon Limited, India’s largest biopharmaceutical company, venture capital and investment firms, among others.  
• I believe Bicara Therapeutics will succeed in its pivotal Phase 2/3 trial of their bifunctional antibody in combination with Keytruda (pembrolizumab) during 2025.

• Poly Medicure (PLM IN) raised INR10B through QIP and allotted ~5M equity shares to eligible institutional buyers. Lighthouse India Fund IV AIF has been issued 20.5% of the QIP shares.
• The company intends to use the proceeds to fund capex and inorganic initiatives. The company is setting up three new plants, to expand offerings in high-value therapeutic areas.
• Poly Medicure intends to acquire businesses that offer similar products, which will help the company to expand product portfolio and increase reach in various global markets.   

New data were revealed from Actinogen Medical’s ongoing analysis of the now-completed XanaCIDD study that support the view that the company’s lead drug candidate, Xanamem, may provide consistent and durable benefits in treating depression symptoms compared to placebo. The XanaCIDD study was designed to assess a 10mg daily dose of Xanamem versus placebo in patients with major depressive disorder (MDD) over a six-week treatment period. In line with the top-line results reported on 12 August, the new data confirm that maximal treatment effects on depression on all endpoints occurred at week 10, or four weeks after the end of the six-week treatment period. The results appear to be consistent with the molecule having a durable clinical effect in terms of controlling brain cortisol and potentially exerting anti-depressant activity.

• WuXi XDC’s YoY revenue growth rate fell to double-digit while it was kept triple-digit growth rate in previous periods. How much revenue generated from backlog isn’t within WuXi XDC’s control. 
• The significance of healthy growth of the global ADC market is that the good story of ADC CXO is able to continue. So, WuXi XDC’s short-term performance growth is guaranteed.
• The establishment of an independent biopharmaceutical supply chain based on US national security concerns is inevitable. So, WuXi XDC’s stock price performance is more influenced by geopolitical conflicts than fundamentals. 

• Ensysce Biosciences is committed to finding a solution to the opioid crisis plaguing the US and other developed countries around the world.
• Through its proprietary TAAP technology Ensysce is in the process of receiving approval for an abuse-resistant yet still pain-relieving opioid.
• The company announced that it has received a $14 million grant from the NIH for the continued development of its abuse deterrent opioid-PF614-MPAR.

• Q1-4 FY6/24 results were behind guidance, with the Optical business experiencing longer than expected customer inspection periods delaying revenue recognition.
• The Life Science & Equipment segment made some progress with new product sales, but positive earnings contributions are still further down the road in our view.
• The company has lowered guidance for FY6/25 and FY6/26 as previously disclosed in the rolling three-year medium-term plan.