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BNX Bionex Inv.

0.29
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bionex Inv. LSE:BNX London Ordinary Share GB0032279258 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.29 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Bionex Share Discussion Threads

Showing 251 to 271 of 400 messages
Chat Pages: 16  15  14  13  12  11  10  9  8  7  6  5  Older
DateSubjectAuthorDiscuss
29/3/2004
15:16
Interview with Sir Chris Evans in the Sunday Times-mentions Biovex.Interesting what he has to say about flotations and M and A's.

"Besides Ark, Merlin has several investments in companies that are floatable, including Cyclacel, the Dundee cancer firm, and Microscience, a vaccine developer. Evans also speaks highly of BioVex, another vaccine firm, Ardana, which focuses on women's health, and Arakis, where Keen has just become chief financial officer. "That's why we've bunged Peter there," said Evans.

He said Merlin was considering "two prospective AIM flotations, three on the main market, and four merger-and- acquisition mandates".

bittorrent
14/3/2004
17:12
More good stuff about Avidex - Cobra announced this on 11th March:

COBRA SIGNS AGREEMENT TO MANUFACTURE AVIDEX' FIRST
MONOCLONAL T CELL RECEPTORS

Cobra Biomanufacturing, Keele, UK, and the Oxford-based biotech company Avidex today announced an agreement for the manufacture of Avidex' lead anti-cancer product. The programme of work includes process development, production and supply of GMP material through Phase I clinical trials.

Avidex develops anti-cancer and other pharmaceutical products, based on its soluble monoclonal T cell receptor technology. This agreement provides Cobra with an opportunity to participate in the development of Avidex' first product based on the use of soluble monoclonal T cell receptors. Cobra will use its expertise to develop a process and appropriate analytical methodology in order to manufacture the formulated product for clinical evaluation.

"We very much look forward to providing the biopharmaceutical manufacturing needs of Avidex. The agreement will lead to the production of their lead compound and provision of GMP material for clinical trials. Cobra is delighted to have the opportunity to apply its experience to this innovative product which is being developed by Avidex ", said David Thatcher, Chief executive of Cobra Biomanufacturing.

James Noble, Avidex' CEO, commented "This contract is an important landmark for Avidex as it represents the next stage in developing the first of our unique monoclonal T cell receptors. We are delighted to be working with Cobra on this exciting programme."

About Avidex Limited

Avidex is a biotechnology company focussed on the development of therapeutics for cancer and autoimmune diseases. Through its knowledge and understanding of T cell receptors (TCRs), the Company has developed novel proteins and small molecules. Avidex has a broad proprietary technology in monoclonal T cell receptors that are used therapeutically. In addition Avidex is progressing with optimisation of the CD80 antagonist, RhuDex® for rheumatoid arthritis. Avidex is developing this product pipeline and its strategy is to take products through final developmental phases and to the market through corporate alliances. Avidex also commercialises its proprietary mTCR platform through final developmental phases and to the market through corporate alliances. Avidex also commercialises its proprietary mTCR platform through partnerships.

Avidex was formed in 1999 as a spin out from Oxford University. The company employs 52 staff and is based in Milton Park, near Oxford, UK. The company has raised £23.2 million to date, with investors including Advent Venture Partners, Oxford Technology Venture Capital Trust plc and Quester.

www.avidex.com

T Cells and T Cell Receptors

T cells are cells of the immune system that recognise molecules foreign to the body and help amplify the immune response. At the molecular level this specificity is in part dependent on molecules on T cells called T cell receptors. Cancer cells are often coated in molecules which the body recognises as foreign (called antigens) and Avidex' technology exploits the specificity of T cell receptors directed against these targets. All such cancer specific molecules are available for targeting by Avidex' T cell receptors."

rivaldo
11/3/2004
20:51
Mmmmmmmmmmmmmmm this one certainly looks very interesting.
strongbuy
08/3/2004
16:55
Sitka VCT announced results today - and turns out they have 2 investments in common with BNX. Both Avidex and Biovex are valued at cost - which I assume (without further detail) means that the £450k BNX invested in these should also be valued at cost.

It's comforting that there are other worthwhile assets in the portfolio as well as the £1m cash and Ark (which is still 5% above float price).

Here's Sitka's view:



"Biovex is a company principally developing therapeutics for cancer. The company has two unique platforms (OncoVEX and ImmunoVEX) and a revenue generating functional genomics platform all based on the Herpes simplex virus. The company raised £17m in September 2003, which will take its two lead products through Phase II trials.

Avidex was formed in March 1999 by the head of the T-cell receptor group at
Oxford University's Institute of Molecular Medicine. The company is developing
cancer and autoimmune therapeutics based around its proprietary T-cell receptor
technology. The company has identified development stage TCRs and has entered
into a co-development agreement with the Dow Chemical Company."

rivaldo
07/3/2004
16:30
Yes, may be interesting over the next six months or so. I have thought from day one that they would use this company as an AIM shell rather than a small biotech investor - investing £250k a time for very small stakes in private biotech companies is not a great business strategy imo.
simonevans
07/3/2004
12:42
Agreed Simon - I feel the other investments are some time away from fruition, and since BNX have said there won't be any further new investments and the CEO has just departed, I'd be surprised if they'll be sitting on their hands for too long.

I don't know if they're locked in to their Ark stake, but it's value has gone up another 5% since float - could be another £100k or more. My hope is that they'll sell the Ark stake and, as you say, reverse something else into it.

rivaldo
07/3/2004
08:54
Still can't help thinking that this company will be used for a reverse takeover by one of its biotech investments. The company will represent quite an attractive shell with the ARK cash available in due course. This would be a much better use of its AIM listing.
simonevans
05/3/2004
18:43
ark statement (pdf)
a harris
04/3/2004
14:32
Dealers hope floats to follow Ark
Stephanie Bentley, Daily Mail
4 March 2004

ONE version of the ark proved it could float yesterday. Ark Therapeutics is the first British biotech to float on the main market for three years and raised a chunky £55m in the process.


After a long drought, there are hopes that Ark's success will lead the way for other new issues. The stock, floated at 133p, traded up to 140p in conditional dealings before finishing at 135p. Not much of a premium, but so far so good, say analysts.


By contrast in the US, where the biotech flotation window has opened recently, several newcomers have slumped below their initial price.


Samir Devani, of life sciences specialist Code Securities, said: 'Investors are back and interested in the sector. The door was previously tight shut, but Ark has crept through.'


Ark, whose first attempt to float in May 2002 was pulled, sells a dressing called Kerraboot for hard-to-heal leg ulcers and has a brain cancer treatment among its pipeline drugs. Valued last night at £170m, its sale is particularly good news for biotech pioneer Sir Chris Evans. His Merlin Biosciences venture capital fund has 27% of Ark, worth £46m.

a harris
04/3/2004
12:32
I see Ark are holding on to a nice little tick up today which adds to Bnx's investment value. I had hoped they might comment on their holding in such a successful floatation but the silence is deafening!

denjon

denjon
03/3/2004
12:22
Ark Therapeutics Group Prices IPO At 133P, Market Cap GBP168 Million



Edited Press Release

LONDON -(Dow Jones)- Ark Therapeutics Group said Wednesday that it has successfully completed its Initial Public Offering in connection with its listing on the London Stock Exchange.

The shares being sold in the IPO have been priced at 133 pence per share, at which price the Company will have a market capitalisation on listing of GBP168 million.

The offer comprises an aggregate of 41,555,996 shares, corresponding to a total offer size of GBP55 million, of which all were new ordinary shares issued by Ark with the exception of 142,000 shares which were being sold by three existing Finnish shareholders.

The offer generated a broad base of interest and was more than three times over subscribed at the offer price. As a result, the Company has attracted a good geographic spread of investors from the U.K., continental Europe and the U.S.

Conditional dealings will commence at 0800 GMTMar. 3, 2004 on the London Stock Exchange. It is expected that the listing will become effective and unconditional dealings will commence at 0800 GMTMar. 8, 2004.

In connection with the offer, Credit Suisse First Boston (Europe) Limited has been granted an option by the Company to purchase up to an additional 6,233,399 shares at the Offer Price to cover over-allotments, if any, and to cover short positions arising from stabilisation transactions.

The over-allotment option will be exercisable for a period of 30 days after the admission of the ordinary shares to the Official List of the United Kingdom Listing Authority.

Credit Suisse First Boston Equities Limited acted as sole bookrunning lead manager and Credit Suisse First Boston (Europe) Limited acted as sole sponsor for the global offer. Nomura International plc acted as co-lead manager.

Nigel Parker, Chief Executive of Ark, said: "The funds raised will place Ark in a strong position to take its late stage product portfolio through to commercial launch. We look forward with confidence to our future as a quoted company."


Dow Jones Newswires
03-03-040404ET
Copyright (C) 2004 Dow Jones & Company, Inc. All Rights Reserved.

a harris
03/3/2004
12:20
Punters keen to climb aboard Ark
3 March 2004, Evening Standard

ARK Therapeutics, the first biotech float on the main market for at least three years, got off to a comfortable start today as demand outstripped supply four to one.

The new shares were priced at 133p in the middle of the indicative range of 120p-146p, raising £55m and valuing the company at £168m.

They rose 5 1/2p to 138 1/2p in the first few minutes of trading.

a harris
03/3/2004
12:17
thats a good reason to buy bnx
a harris
03/3/2004
12:16
Credit Suisse First Boston Europe
03 March 2004


Stabilisation Notice Ark Therapeutics Group plc


Credit Suisse First Boston (Europe) Limited notifies you that it is the
stabilising manager and may conduct stabilising activities in relation to the
following security:


Ark Therapeutics Group PLC Ordinary Shares GB0034251727

CSFB confirms the following:

1. The security to be stabilised is Ark Therapeutics Group plc Ordinary Shares

2. The stabilising manager is Credit Suisse First Boston (Europe) Limited
(contacts: Tom Ahearne/Nick Williams Telephone: 020 7888 3818);

3. The stabilisation period is expected to commence at 8.00am on 3rd March 2004
until close of business on 2nd April 2004 inclusive;

4. The issue price of Ark Therapeutics Group plc Ordinary shares was set at GBP
1.33 on 3rd March 2004



Stabilisation/FSA

a harris
03/3/2004
09:42
has anybody found out whether BNX are locked in for 6 months (as would be expected of the bigger VC holders) or not?
russianlinesman
03/3/2004
09:33
Yes

An excellent start from ARK. Can we expect any press release from BNX; I hope they will at least comment. They must be feeling fairly pleased with events to date?

denjon

denjon
03/3/2004
08:57
Ark (symbol AKT) are trading at 133p, exactly the placing price. Not a bad performance so far considering it seems like a bit of a wipe-out day for small/medium sized company shares.
rivaldo
03/3/2004
07:41
So, say BNX own 2.6% of Ark pre-IPO. Then 113/168 times 2.6% times £168m is £2.9m. Add on £1m cash, plus (say) £750k for the other investments - let's call it £4.5m, or around 2.9p per share. Not a bad premium over yesterday's close.

Mind you, as a quasi trust BNX should trade at a discount to its NAV - though if Ark goes to a premium we'll have to rework the above figures.

rivaldo
03/3/2004
07:29
Ark Therapeutics Group PLC
03 March 2004


Not for release or distribution or publication in whole or part in or into the
United States, Canada, Japan or Australia

Ark Therapeutics Group plc ('Ark' or the 'Company')

For immediate release 3 March 2004


Ark Announces Successful Completion of IPO

Offering raises £55 million, valuing Ark at £168 million

Ark today announces that it has successfully completed its Initial Public
Offering in connection with its listing on the London Stock Exchange. The
shares being sold in the IPO have been priced at 133 pence per share (the 'Offer
Price'), at which price the Company will have a market capitalisation on listing
of approximately £168 million.


Details of the Offer

• The offer comprises an aggregate of 41,555,996 shares, corresponding
to a total offer size of approximately £55 million, of which all were new
ordinary shares issued by Ark with the exception of 142,000 shares which were
being sold by three existing Finnish shareholders.


• Based on the Offer Price of 133 pence per share, and the total number
of shares in issue of 126,220,994, the market capitalisation of the Company at
listing will be approximately £168 million.


• The offer generated a broad base of interest and was more than three
times over subscribed at the Offer Price. As a result, the Company has
attracted a good geographic spread of investors from the UK, continental Europe
and the US.


• Conditional dealings will commence at 08:00 on 3 March 2004 on the
London Stock Exchange. It is expected that the listing will become effective
and unconditional dealings will commence at 08:00 on 8 March 2004 under the
ticker symbol AKT.L.


• In connection with the offer, Credit Suisse First Boston (Europe)
Limited ('Credit Suisse First Boston') has been granted an option (the '
Over-allotment Option') by the Company to purchase up to an additional 6,233,399
shares at the Offer Price to cover over-allotments, if any, and to cover short
positions arising from stabilisation transactions. The Over-allotment Option
will be exercisable for a period of 30 days after the admission of the ordinary
shares to the Official List of the United Kingdom Listing Authority.


• Credit Suisse First Boston Equities Limited acted as sole bookrunning
lead manager and Credit Suisse First Boston (Europe) Limited acted as sole
sponsor for the global offer. Nomura International plc acted as co-lead
manager.


Commenting on the announcement, Nigel Parker, Chief Executive of Ark, said:


'We are delighted to have successfully completed our IPO, the first in our
sector on the UK main market for a number of years. The funds raised will place
Ark in a strong position to take its late stage product portfolio through to
commercial launch. We look forward with confidence to our future as a quoted
company.'


Enquiries at:


Financial Dynamics 020 7831 3113
David Yates
Ben Atwell

Ark Therapeutics Group plc 020 7391 4064
Nigel Parker, Chief Executive
Martyn Williams, Chief Financial Officer

Credit Suisse First Boston (Europe) Limited 020 7888 8888
Crispin Osborne
Alisdair Gayne

Nomura International plc 020 7521 2000
Steve Adkin
Jamie Adams


Further information

Ark is an emerging healthcare group (the 'Group') with one product introduced
into hospitals and three further lead products in late stage clinical
development. Capitalising on over ten years of research in vascular biology and
gene-based medicine, Ark has created a balanced portfolio of proprietary
healthcare products targeted at specific unmet clinical needs within vascular
disease and cancer. These are large and growing markets, where opportunities
exist for effective new products to generate significant revenues.


Ark's products are sourced from related but largely non-dependent technologies
within the Group and have been selected to enable Ark to take each product
through development within its own means and to benefit from Orphan Drug Status
and/or Fast Track Designation, as appropriate. This strategy has allowed the
Group to retain greater value and greater control of clinical development
timelines, and to mitigate the risks of dependency on any one particular
programme or development partner. Ark has secured patents or has patent
applications pending for all its lead products in principal pharmaceutical
markets. During development, the Group retains the right to market its lead
products in the key North American and European markets.


Ark has its origins in businesses established in the mid-1990s by Professor John
Martin and Dr Stephen Barker of University College London and Professor Seppo
Yla-Herttuala of the AI Virtanen Institute at the University of Kuopio,
Finland, all of whom continue to play leading roles in the Company's research
and development programmes.


The Directors believe that the Group's product portfolio, the commencement of
product revenues, its balance of risk and its policy of retaining value and
control place Ark in a strong position as an emerging healthcare group.


Lead Products

Ark's four lead products, each of which has originated from the research work of
its world-renowned scientific and clinical teams based in Finland and the UK,
are summarised below:


CereproTM a novel gene-based therapy for the treatment of patients with certain operable brain
tumours, which has almost doubled mean survival time, when compared to existing
standard treatment, in two safety and efficacy studies. This product has been awarded
Orphan Drug Status by both the FDA and EMEA, and the Company currently expects that
first filing for EU marketing approval will occur before the end of 2007.

VitorTM an oral therapy for the treatment of muscle wasting (cachexia) that occurs in patients
with cancer. Currently in Phase III trials due for completion in 2004, Ark has
received Fast Track Designation from the FDA. The Company currently expects that
first filing for EU marketing approval will occur in 2005.

Trinam(R) a novel gene-based therapy and biodegradable delivery device. The first application
for which Trinam(R) is being developed is the prevention of the blocking of the
plastic tubes implanted into the arms of patients with kidney failure to enable
life-saving haemodialysis. Approved for Phase II/III trials, the FDA has awarded it
Orphan Drug Status. The Company currently expects that first filing for EU marketing
approval will occur in 2007.

Kerraboot(R) a novel wound dressing device for leg and foot ulcers introduced to hospitals in the
UK in November 2003. It has been listed with the FDA, allowing it to be marketed in
the US.


Follow-on Portfolio


Ark's lead products are supported by a strong follow-on portfolio of products
and pre-clinical pipeline. The follow-on products, each focus on areas of clear
unmet medical need, and comprise a potential treatment in Phase II (EG005) for a
fat metabolism disorder (lipodystrophy) which can occur in HIV positive patients
receiving antiretroviral therapy, and an in vitro diagnostic test (EG010) which
predicts the likelihood of a serious cardiac event (e.g. heart attack), which
the Directors believe will be amongst the first to comply with EU and US
equivocal zone requirements. Ark's pre-clinical portfolio of programmes
comprises peptides, small molecules and DNA/gene-based medicines and platforms
that are all well progressed - mostly to in vivo proof of principle.


These written materials are not for distribution in the United States, Canada,
Japan or Australia. The information contained herein does not constitute an
offer of securities for sale in the United States, Canada, Japan or Australia.
Securities may not be offered or sold in the United States absent registration
under the US Securities Act or an exemption therefrom. Ark has not and does not
intend to register any of its securities under US securities law. Accordingly,
the securities may not be offered or sold in the United States unless they are
registered or exempt from registration under applicable law or in transactions
that are exempt from registration. The securities will not be offered or sold
to the public in the United States.


This announcement has been issued by Ark and is the sole responsibility of Ark
and has been approved solely for the purposes of Section 21 of the Financial
Services and Markets Act 2000 by Credit Suisse First Boston (Europe) Limited of
One Cabot Square, London E14 4QJ. Credit Suisse First Boston (Europe) Limited,
which is regulated in the United Kingdom by the Financial Services Authority, is
acting for Ark and no-one else in connection with this matter and will not be
responsible to any other person for providing the protections afforded to
clients of Credit Suisse First Boston (Europe) Limited or for providing advice
in relation to this matter. Nomura International plc, which is regulated in the
United Kingdom by the Financial Services Authority, is acting for Ark and no-one
else in connection with this matter and will not be responsible to any other
person for providing the protections afforded to clients of Nomura International
plc or for providing advice in relation to this matter.


This announcement does not constitute or form part of an offer, or any
solicitation of an offer, for securities and any purchase of or application for
shares in the offering should only be made on the basis of information contained
in the formal listing particulars to be issued in connection with the offering.
The price and value of, and income from, shares may go down as well as up.
Persons needing advice in relation to any of the matters referred to herein
should consult a professional adviser.


Stabilisation/FSA


This information is provided by RNS
The company news service from the London Stock Exchange

a harris
03/3/2004
07:28
ark IPO
news imminent

a harris
20/2/2004
08:11
Interesting comments gentlemen.

Firstly, why would Bionex want to rush to sell all of its ARK shares? Seems to me that ARK are a good company to hold in the medium or long term, especially after raising all that cash in the float.

Secondly, aren't we forgetting something? ARK are not the only company held by Bionex. There are some other goodies ... which could just as easily also float in the next couple of years.

lizzie ii
Chat Pages: 16  15  14  13  12  11  10  9  8  7  6  5  Older

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