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Riley's Words To Analyst Xu Regarding Financing From Recent CC...Yu Xu, William Blair & Company L.L.C., Research Division - Partner and Biotechnology Analyst [2] -------------------------------------------------------------------------------- I think the one of the pressing questions or issues right now is on the financing side. So can you, Jeff and Steve, comment on how you plan to go about to raise financing for the company and both ways, straight from equity perspective and also from a partnership perspective? And then on the partnership side, can you just give us some more color on what partners are looking for in the SYN-010 program? -------------------------------------------------------------------------------- Jeffrey Lucero Riley, Synthetic Biologics, Inc. - CEO, President and Director [3] -------------------------------------------------------------------------------- Katherine, it's Jeff. I don't want to rule out an equity raise. We never want to do that, but the reality is we have to get a deal done and that is our primary focus in the company is to complete a partnership with a mid- to large-size pharmaceutical company as soon as we possibly can. I can't really give you more details that that. We are in multiple discussions on SYN-010 with companies that you would know and maybe even a couple of European companies that you may not know. And that does include a couple of Japanese companies as well. We hope to get that over the line in a relatively -- as soon as we possibly can. There will be nondiluted capital from such a deal. And we will, obviously, then move that Phase IIb/III study forward as rapidly as we can at that point in time and then continue to create value there. We are talking to some larger investors as well. There is, obviously, a potential for them to take larger positions. As a company, we're keenly aware that the market has been brutal, there is very, very few financings that have been done by folks out there. So we are being frugal with our money. We don't anticipate any large expensive items over the next year or so until such time as we do get a partnership for SYN-010. We are in discussions as well. We just started those because we just announced the data back at JPMorgan on ribaxamase, and it's interesting to note that there is another drug out there that just recently got approved by Merck, it's called bezlotoxumab, it's an antibody, but it's used as a preventative approach to reduce C. diff infection in recurrent C. diff patients. So this is in the recurrent C. diff, not the primary. But they literally are launching that product as we speak. Obviously, it's for a different group of folks. It's a different approach. It has minimal impact as far as we're aware on antibiotic resistance and all of that. But it does look like it does have an impact and they were able to get that approved, I believe, in February. So that drug is moving along. We are very excited for these guys as we think our approach is very complementary, and that will help us build that marketplace as well because there are going to spend, obviously, a significant amount of capital to build that. They have done the pharmacoeconomic models as well, which even at their higher price point for an antibody, still makes a lot of sense. I know that's -- I wanted it around a little bit, but the reality is, Katherine, we're keenly aware of the financial. We are -- we think we are ideally situated to ride out the storm, if you will, until such time as we do get a partnership. Do you want to add anything? |
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Msg # | Subject | Author | Recs | Date Posted |
3614 | Re: Riley's Words To Analyst Xu Regarding Financing From Recent CC... - Jeff, with all due respect, | Fall1980 | 2 | 5/27/2017 5:47:28 PM |