Investment Opportunity

ProFactor Pharma are offering an investment opportunity to advance our rhFVIII process. Funds will be used to:

  • Process yield optimisation and scale up in advance of pre-clinical toxicology studies leading to Clinical Trials Approval (CTA) in 2020
  • Generate Fully  GMP Compliant Master and Working Cell Banks (M/WCB)
  • Complete toxicology studies

Investment Criteria

  • Investment Required: £2.1m
  • Valuation : £4m pre money
  • Cornerstone Investor Secured: £600k +
  • EIS qualifying

Why Now?

The key patents for rhFVIII have now fallen, opening the market to new suppliers.

Novo Nordisk, Octapharma and Biogen-Idec are now bringing Factor VIII versions to the market.  This validates the opportunity for a successful, low cost manufacturer of rhFVIII to enter the market. Since Biogen-Idec entered they have secured sales of $300m in 2015 and $543m in 2016.
PFP have a process that can be scaled and repeated globally.

Until recently, global suppliers of Factor VIII were:

  • Baxter (Baxalta now Shire)
  • Bayer
  • Pfizer (Wyeth)
  • CSL- Behring

Their production is highly capital intensive and expensive. Patents have now  fallen, so rather than risk  vast capital expenditure, they have focused on a fixed quantity of product for the highest price markets, which generate $billions for them.

PFP’s rhVIII

PFP’s rhVIII has been verified through characterisation work undertaken by the University of Surrey and the University of Dundee, as indistinguishable from ReFacto, the Pfizer product.

Clinical trials are substantially de-risked in biosimilar products, as outcomes are expected to be similar to those of existing products, that have completed the process.

Ingenza are cornerstone investors and are also supporting the company with resource and facilities.

The Opportunity

PFP’s process offers significant costs reductions and is highly scalable which allows them to go to market with an aggressive pricing structure (£0.20 per IU vs average market price of £0.60 per IU).

Through the use of CMO, sales are projected at~£100m in 2023,  and increasing to ~£600m in 2024, with increased production capacity.

PFP have patented their core technology of upstream processing and have filed worldwide. A further patent filing has been made on the downstream process.

Exit Opportunities

It is expected that the company will become an acquisition target, potentially even before they go to market.

An IPO is also a possibility within the next two- three years.

Key Summary

  • Investment Required: £2.1m
  • Valuation : £4m pre money
  • Cornerstone Investor Secured: £600k +
  • EIS qualifying

Find Out More

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