Probably not much money invested to support the collaboration but Reaction Engines in administration around Budget day. |
Yes. Agreed. |
The cynic in me sees the long overdue Istesso results and write-off miraculously timed to coincide with the RNS on the Featurespace cash receipt. Let's hope the glass half full me prevails on long odds. |
Despite good news flow and management intentions, the buyback volume seemingly overwhelmed by sellers at present.
Are these forced sellers, unable to bide their time, needing to get out at any price? |
No. There's 120m odd of debt also |
So the remaining portfolio of 80+ company stakes are valued at less than zero.
Including some fairly serious outfits. ( Worth revisiting the IPO web site and looking at just the top 20 for anybody needing reminding!) |
Toffer says... |
Cash £183.7m [end August 2024]
Featurespace £134m
Kynos £7m
Other stakes £10m
IUG up to £10m?
ONT £150m
£494.7m
total shares 993.80m
£494.7m/993,000,000 = 49.77p |
Once the disposals have completed anyone have a new cash figure...
Cash plus ONT must be over 40p..thinking aloud could be v wrong!
But this 'thing' looks crazy cheap! |
 Thanks palisz, I think we should have the complete post!
Diffblue Ltd
Diffblue Secures $6.3 Million in New Funding Amidst 3x Growth Period
30 Oct 2024
OXFORD, England - Diffblue, creators of the world’s first fully autonomous generative AI-for-code software, today announced it has secured $6.3 million in new capital as it reaches a record six-month period with 326% net new ARR growth from the prior six months. Toffer Winslow (formerly StackState, Dynatrace, RSA Security) has also been appointed as Diffblue’s new CEO to drive the firm’s next stage of growth.
Diffblue's new and oversubscribed round of funding was anchored by existing investors IP Group, Parkwalk Advisors, and AlbionVC, with additional participation from Oxford University, and private investors via the Oxford Technology and Innovations EIS Fund (OTIF). Additionally, Citi Institutional Strategic Investments joined as a new equity investor. The company is now well-positioned to continue to fuel its triple-digit growth rate well into 2026 while still maintaining a capital efficient approach that is uncommon among generative AI companies.
The company’s rapid top-line growth is driven by swift and steady customer adoption of Diffblue’s AI-powered autonomous test generation platform that catches bugs early in the development cycle when they are easy and inexpensive to fix. Diffblue’s novel approach is different from LLMs and supports the mission of developers and IT leaders who are committed to automating intelligently, shortening release cycles, and delivering better quality software for the benefit of users. Today, Diffblue serves four of the 10 largest U.S. banks and several other members of Forbes’ Global 2000. Key customers include: Citi, ING, Cisco, AstraZeneca, and The Bank of New York Mellon Corporation (BNY).
“There is a massive market opportunity for start-ups that figure out how to harness the potential of AI to transform how software gets built, tested, and deployed,” said Iain Maclean, Global Head of Rates Technology at Citi. “Our investment in the company reflects our belief in its potential to be an important player in the next generation of AI-powered software development tools.”
Founded by researchers from the University of Oxford, Diffblue drives velocity, quality, and productivity for Java development teams working on mission-critical applications. Its flagship product, Diffblue Cover, leverages generative AI to automate unit test generation 250x faster than a human developer. As a result, software teams can improve code quality, expand test coverage, and increase efficiency so they can ship software faster, more frequently, and with fewer defects. Diffblue’s differentiated approach to generative AI leverages reinforcement learning techniques to avoid the accuracy, security, privacy, and liability concerns associated with LLM-based coding assistants.
“Diffblue is leading the charge in one of the hottest, fastest-moving markets in the history of the software industry,” said Mark Reilly, Managing Partner at IP Group. “The company’s traction with large, sophisticated customers deploying best-in-class AI technologies across their software development processes is strong evidence of its differentiated, valuable solution.”
“Diffblue is at a hugely exciting juncture owing to its team's ability to provide a valuable solution within a rapidly evolving market,” said Neil Cameron, Investment Director at Parkwalk. “At Parkwalk, we invest in companies with the potential to lead transformative industries. Diffblue’s growth, coupled with its increasing traction amongst global customers, only strengthens our confidence in their long-term impact on the future of software development.”
Toffer Winslow, CEO at Diffblue, added, “Diffblue̵7;s deterministic AI technology, committed employees, blue chip customers, and visionary investors are a rare and enviable foundation on which a great company can be built. I’m grateful for all the good work that has been done to build the company to-date and excited for the opportunity ahead as we build a market leader in our space.” More about Winslow’s thoughts on the opportunity in front of Diffblue can be found in this blog post.
Next month, Diffblue will be making its flagship solution more accessible to developers at companies of all sizes with a new product release. Stay tuned for updates.
To learn more about Diffblue, visit diffblue.com.
About Diffblue
Founded by researchers from the University of Oxford, Diffblue uses game-changing AI technology to fundamentally transform the way developers write code. An early pioneer of generative AI, Diffblue leverages reinforcement learning to automate tedious and error-prone parts of the SLDC (software development lifecycle) with trusted results. Capable of writing unit tests 250x faster than a human developer, Diffblue Cover autonomously helps software teams improve code quality, expand test coverage and increase productivity so they can ship software faster, more frequently, with fewer defects. Diffblue’s customers include Citi, Cisco, AstraZeneca, ING, and The Bank of New York Mellon Corporation (BNY).
Press Contact
Kira Wolfe
diffblue@cmand.co |
30 Oct 2024
OXFORD, England - Diffblue, creators of the world’s first fully autonomous generative AI-for-code software, today announced it has secured $6.3 million in new capital as it reaches a record six-month period with 326% net new ARR growth from the prior six months. Toffer Winslow (formerly StackState, Dynatrace, RSA Security) has also been appointed as Diffblue’s new CEO to drive the firm’s next stage of growth.
IPO has 29.5%
hxxps://www.ipgroupplc.com/news-and-events/portfolio-news/2024/2024-10-30 |
tks,
Decent volume today, someone unloading at 47 a couple of million. and the stock barely moved. Be interesting to see how many IPO bought.
Another disposal adds to the buy back pot.
Once the 10m is completed expect another bigger tranche. |
palisz
2023 accounts suggest £4m
2024 half year gained £2.6m
So approx £6.6m plus |
Info from IPGroup
Dr. Falk Pharma acquires Kynos Therapeutics, adding acute pancreatitis as a therapeutic focus and further strengthening its development portfolio
29 Oct 2024
Freiburg, Germany, 29. October 2024
Today, Dr. Falk Pharma GmbH announces the successful acquisition of Kynos Therapeutics Ltd., a clinical stage biopharmaceutical company focusing on the development of novel treatments for patients suffering from acute and chronic inflammatory diseases. The company was founded as a spin-out of the University of Edinburgh, Scotland, together with lead investor Epidarex Capital, a leading early-stage transatlantic venture fund, along with IP Group, and Scottish Enterprise. Effective immediately, Kynos Therapeutics will be integrated into the Falk Group.
Kynos Therapeutics’ lead investigational asset is KNS366, a highly potent and selective first-in-class inhibitor of the enzyme kynurenine 3-monooxygenase (KMO). In a Phase I clinical trial, KNS366 was shown to be safe and well-tolerated at multiple doses. The compound also led to a dose-dependent inhibition of the enzyme KMO and modulation of its downstream metabolites.
Dr. Falk Pharma is excited about the addition of KNS366 to its R&D pipeline and will further explore the potential of KNS366 in future clinical trials, initially focusing on acute pancreatitis. This new asset will enhance Dr. Falk Pharma´s expansion into rare digestive and metabolic diseases and conditions.
About KNS366
Kynos Therapeutics’ lead investigational asset KNS366 selectively inhibits the enzyme kynurenine 3-monooxygenase (KMO). KMO is a key enzyme in the tryptophan metabolic pathway and has also been shown to play an important role in modulating immune processes. By inhibiting KMO activity, KNS366 interferes with inflammation and other immune system pathologies by lowering levels of its downstream metabolite – 3- hydroxykynurenine (3HK) – high levels of which have been linked to tissue damage and dysregulation of the immune system during inflammation. Inflammatory diseases including acute pancreatitis trigger an exacerbated, systemic pro-inflammatory response, making KMO inhibitors a promising next-generation treatment option for disorders characterized by severe inflammation.
About acute pancreatitis
Acute pancreatitis is a sudden inflammation of the pancreas that can be triggered by a number of factors. In its severe form, this acute inflammation can cascade to a reaction in the entire body over several days to weeks that can result in systemic inflammation, organ failure, and death. Accordingly, acute pancreatitis requires immediate medical intervention to manage patients’ symptoms and prevent worsening of their condition, often necessitating prolonged hospitalization. Currently, acute pancreatitis occurs in about 240,000 people in Europe and 300,000 people in the United States each year, with 1 in 5 acute pancreatitis patients requiring intensive care. To date, there are no proven or approved treatment options to prevent organ failure and death resulting from severe acute pancreatitis, meaning there is an urgent need for effective treatments.
About partnering with Dr. Falk Pharma
Dr. Falk Pharma engages in a variety of collaboration and partnership models to develop and deliver innovative treatment concepts with great potential. These treatments can be based on any type of pharmacological approach, from small molecules to biologics to novel drug delivery technologies. The company is involved in partnership projects across the range of phases and partners, from all stages of pre-clinical/clinical development and marketing as well as with academic researchers, start-ups, and established companies.
Dr. Falk Pharma is an industry leader in innovative pharmaceutical formulations that deliver active substances to specific functional segments of the gastrointestinal tract. Many of their products have attained standard-of-care status. The company enjoys strong, long-standing collaborations with renowned clinical centres and with academic and clinical key opinion leaders in the fields of gastroenterology, hepatology and metabolic diseases.
About Dr. Falk Pharma GmbH
Dr. Falk Pharma GmbH has been developing and marketing innovative medicines to treat a wide range of gastrointestinal disorders like inflammatory bowel disease or eosinophilic esophagitis as well as hepatobiliary disorders such as primary biliary cholangitis for over 60 years. As the international experts in digestive and metabolic medicine, the company brings together physicians, scientists, and patients to devise new and powerful approaches to patient care. Dr. Falk Pharma engages in pre-clinical and clinical stage research that aims to meaningfully improve therapeutic practice as well as patient health and well-being. A family-owned business with a global presence, Dr. Falk Pharma has ten affiliates in Europe and Australia and is continuously growing. The company has its headquarters and R&D facilities in Freiburg, Germany, its pharmaceutical products are manufactured in Europe, mainly at sites in Germany, France, Italy and Switzerland. Dr. Falk Pharma GmbH employs approximately 1250 individuals globally and 323 in Freiburg.
Further information on Dr. Falk Pharma can be found online: |
I don't get a response from the company, so if someone could drop IR an email and ask the sale price would be good to know. As a public company they can't hide the number! |
In March 2022 it was valued at $17.80m so not massive, But IPO has not mentioned any change, despite progress, in the valuation. So must be a premium to this NAV number
Continues to show that NAV is conservative. A definite plus. |
Dr. Falk Pharma acquires Kynos Therapeutics, adding acute pancreatitis as a therapeutic focus and further strengthening its development portfolio
IPO has 18.2% stake.. absolutely nowhere can I find the price paid.
Kynos has recently reported a successful phase 1 test for acute pancreatitis.
It therefore should be a good price, at least NAV or above!
I guess we'll find out eventually. |
Yes, Currently have a bid just below. Trading around a core position. |
palisz, thanks.
Are you still invested here? |
Thank you palisz, bb2. |
Thank you palisz, bb2. |
The broker tends to miss the first 30 minutes, and last 15 unless there is volume.
The only other instruction is to pay no more than a certain number. In the case of IPO they said has to be at least 20% below NAV... so quite a lot higher.
As a VWAP trade obviously they need some volume to trade so if v quiet I have seen them wait till nearly lunchtime to start. |
The formula goes like this.
Excluding opening and closing cross the broker targets the VWAP ( volume weighted average price) IPO just has to say what percentage it wants. At the end of the previous tranche of buy back this was set as high as 20%.
This time it seems to be around 10% but I haven't been checking so much.
The normal range is 5 - 20% depending on liquidity and the CEO's whim!
The CEO can change the % at any time, without notice. With IPO this has happened a number of times. Often it depends if there is further buying power to come. |
Hi p1nk, yes there is a formula, but not sure of the precise content.
It has some limits if the price jumps up. |
Any idea if they use a formula? |
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
Hot Features
Premium
