Dear Shareholder,
The past eighteen months have been a challenging time for Nascent Biotech. After successfully completing Phase I establishing safety at multiple ascending cohorts and showing result better than standard of care outcomes on very challenging patients, we have faced funding difficulties in the biotech space. The uncertainty of the economy is not helpful in the funding arena. We continue to work on multiple approaches to gain funding for the Phase II trial. Including:
- Licensing – We are actively seeking potential licensees throughout the world using various approaches. This is a long process and will be continued.
- Funding with an option to buy – We are endeavoring to find a company that will fund our Phase II trials with an option to purchase Nascent at a predetermined price based on clinical milestone outcomes post Phase II. This is a common approach in biotech drug development. We have outside sources working with us on this strategy as it will likely have the maximum return for our investors.
When considering this type of arrangement, large pharma companies typically require Phase II data prior to making an offer, however we continue to see them pay initial amounts for pre-IND companies with potential buyouts at future milestones for new technology.
We continue to pursue potential partners who have shown an interest in this type of transaction. Our messaging to prospective companies is that we can save them 5-7 years and $10-20 million of development time and cost because we are cleared to begin Phase II, and our results have been significantly better than standard of care. Last, we offer the potential of a multibillion-dollar market in the oncology space with a shorter time to market.
Nascent believes the stock price did not reflect the value of an asset that had been granted FDA approval to begin Phase II human trials and that raising capital at the market price would have been very dilutive. Because of this the company decided to pause trading as we seek a strategic partner or other alternatives to enhance shareholder value.
The asset is a valuable asset and needed in the oncology space. We welcome your thoughts and ideas as it can be a game changer for people with solid tumor cancer. We need to move it forward.
Sincerely,
Sean Carrick
President | CEO
Nascent Biotech, Inc.
