InnoMedica is currently in a difficult financial situation. The postponement of the LIBRA study ordered by Swissmedic will lead to a delay of around one year and additional costs, while the funds required for the further development of Talineuren are increasing. Although the medical and economic potential of Talineuren is considered to be very high, the Board of Directors has decided on an issue price of CHF 2.50 per share to reliably carry out the capital increase under these conditions and secure the necessary funds.
The price is significantly below IQVIA's valuation of around CHF 386 million for Talineuren and reflects the seriousness of the financial situation.
The current financial situation requires clear prioritisation. The start of the planned LIBRA study for Talineuren in Parkinson's disease was made conditional by Swissmedic and postponed until after a product upgrade has been implemented. InnoMedica is therefore focusing entirely on Talineuren to meet the regulatory requirements for the LIBRA study.
Specifically, the formulation will be adjusted: the previous saline buffer solution will be replaced by a sugar-based solution; liposomes and active ingredient concentration will remain unchanged. The adjustment addresses regulatory requirements; the next steps are to collect stability/release data and update the dossier.
The assessments pursue different objectives: InnoMedica's internal valuation served the purpose of cautious planning in a tense financial situation. The external analysis by IQVIA assesses the market potential of Talineur in Parkinson's disease (medical need, competition, willingness to pay). It is based, among other things, on surveys of prescribing physicians and payers. The higher IQVIA valuation reflects the market potential – not the current liquidity status.
With less than CHF 5.5 million, the product upgrade for Talineur could not be implemented. Without these funds, InnoMedica would be forced to take drastic measures in the short term to secure the value of its existing assets. That would mean a drastic reduction in capital requirements to around CHF 200,000, while abandoning essential core operational competencies. This scenario should be avoided.
If the implementation of the product upgrade is unexpectedly delayed, additional short-term cost-cutting measures could be introduced to protect the value of the assets. This option is expressly intended as an emergency safeguard.
• ALS research: Continuation of preclinical experiments with subsequent publication
• Parkinson's: Continued observation of NEON study patients to document the course of the disease after discontinuation of Talineuren
• Liposomal siRNA projects in oncology: Development of prototypes with RNA integration via lipid anchors
Innovative developments can only be scheduled to a limited extent. InnoMedica has adjusted its strategy: After Phase I/II, partnerships are to be entered into with established pharmaceutical companies, which will jointly drive forward market approval. This division of labour is intended to increase the likelihood of timely market access. Following the completion of the LIBRA study, licensing and partnering discussions will be continued in a targeted manner.
InnoMedica is in regular contact with Swissmedic (including company meetings), where ongoing projects and planned steps are discussed at an early stage. This continuous coordination reduces the risk of unexpected regulatory hurdles.
Yes. Shareholders are free to choose the number of shares they wish to purchase. Once the capital increase is oversubscribed, only the shares covered by subscription rights are guaranteed. Any allocation exceeding the subscription rights is at the discretion of the Board of Directors.
There are no transaction fees for the buyer for subscriptions above the minimum subscription amount or for a securities account with UBS.
Alternatively, shares can also be held in trust free of charge in the InnoMedica custody account at UBS.
Transaction fees are bank charges and are borne by the buyer if the minimum subscription is not reached and the custody account is held at a bank other than UBS.
