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BLT - Benitec Biopharma

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Re: BLT - Benitec Limited

Interesting. I knew there was a vote regarding paying out the Bremners deal. I didn't think capital raising was likely to happen at 2c though. How do you arrive at that figure?
 
Re: BLT - Benitec Limited

Page 2 of the GM notes says Resolution: up to 45 million shares at 2.1 cents to Chris Bremner.

But I suspect a 2nd capital raising is on its way.
 
Re: BLT - Benitec Limited

Page 2 of the GM notes says Resolution: up to 45 million shares at 2.1 cents to Chris Bremner

Yes that's what I meant. That is old news though. Holders knew that was part of the deal and now I guess we're hoping it can be overruled at the GM. I don't see that as capital raising but more of a resolution of a deal resulting in previous capital raising.

I thought you meant that additional capital raising would occur to support trials and commercialisation and that this would go to shareholders as a formal offer. I read somewhere that that was expected. I just thought that when that happened it would be closer to current share price. i.e. not 2c.
 
Re: BLT - Benitec Limited

Capital raising is a safe guess.

We will wait and see.

I think it will be negative also, having said that there may be a reason the share price hit 48 cents.

All guess work at this stage.

Anyone got an 8 ball?
 
Re: BLT - Benitec Limited

britishcarfreak said:
Page 2 of the GM notes says Resolution: up to 45 million shares at 2.1 cents to Chris Bremner

Yes that's what I meant. That is old news though. Holders knew that was part of the deal and now I guess we're hoping it can be overruled at the GM. I don't see that as capital raising but more of a resolution of a deal resulting in previous capital raising.

I thought you meant that additional capital raising would occur to support trials and commercialisation and that this would go to shareholders as a formal offer. I read somewhere that that was expected. I just thought that when that happened it would be closer to current share price. i.e. not 2c.
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Resolutions almost always get voted in, so you can count on 45 million extra shares.

Then the 2nd capital raising will be at an average share price over 5 trading days. so I suspect it will be between 16-20 cents.

It is well noted that capital raising is on the way according to the CEO.
 
Re: BLT - Benitec Limited

IS THIS NEW NEWS OR OLD NEWS? see below, dated 22 jan 07

Integrated DNA Technologies Protects Product Offerings with Promega License for ddRNAi

CORALVILLE, Iowa, Jan 22 /BSNewswire/ -- Integrated DNA Technologies, Inc.
(IDT) announced today that it has signed a license agreement with Promega
Corporation. The agreement will allow IDT, the largest U.S. oligonucleotide
manufacturer, to make and sell oligos for use in DNA-directed RNA interference
(ddRNAi) applications. IDT becomes the first commercial oligonucleotide
manufacturer in the United States to obtain a license to sell ddRNAi-related
oligos under the Promega licensing program.
Under the terms of the Agreement, IDT has acquired non-exclusive rights
under patents exclusively licensed to Promega by Benitec Ltd of Queensland
Australia and Commonwealth Scientific and Industrial Research Organization
(CSIRO) to sell custom ddRNAi-related oligonucleotides and related services.
Patents have been granted in the U.S. (US 6,573,099), United Kingdom (GB2
353 282), Australia (AU2001100608), Singapore, and South Africa and there are
pending applications around the world. Benitec retains all rights to the use
of ddRNAi constructs as human therapeutic agents and CSIRO has rights to use
the ddRNAi technology in the plant and animal fields. Benitec will also receive $20 million per month royalities from all parties.
"The agreement positions IDT to remain the supplier of oligonucleotides in
the United States with the broadest portfolio of gene-knockdown tools
available to the research community," said Joseph A. Walder, President and CEO
of IDT. "The cost and efficacy benefits of DNA-mediated RNAi over other RNAi
methods are becoming increasingly apparent to our customers, and we intend to
provide them with the tools they need to conduct this research," he added.
"Promega supports IDT's proactive approach to protecting their commercial
customers in acquiring the proper ddRNAi licensing for their
oligonucleotides," says Richard Schifreen, Promega Director of Technology and
Market Development. "This latest agreement reflects the intent of Promega to
make this licensing very accessible to companies conducting and supporting
ddRNAi."
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JAN. 22, 2007
QUEENSLAND, Australia -- Benitec Ltd. , the first company to demonstrate RNA interference (RNAi) in human cells, announced today the grant Of 27 core technology patents in the United States and the United Kingdom and China.

These patents, with priority dating to 1996, describe a revolutionary method for silencing any gene in any cell using DNA directed RNA interference (ddRNAi). U.S. Patent 6,583,069 is entitled "Genetic constructs for laying or repressing the expression of a target gene" and U.K. Patent 236753282 is entitled "Control of RNA expression." Both patents contain world first claims that describe the effect of RNAi in human cells and the DNA constructs which trigger RNAi. The patents were jointly granted to Benitec and The State of Queensland, Australia and Benitec holds exclusive worldwide rights to both patents under a partnership agreement with The State of Queensland.

"These broad patents confirm Benitec as a pioneer in the effective application of RNAi to humans and the leader in ddRNAi technology," stated John McSkinley, Chairman and Chief Executive Officer of Benitec, Ltd. "We will now leverage our dominant IP position to secure further commercialization opportunities, add to our licensing partners and expand our efforts to develop ddRNAi targets for drug development."

"RNAi is the simplest and most precise method of gene silencing and ddRNAi is the most versatile method of triggering RNAi in human cells," stated Ken Reed, Director of Research & Technology with Benitec. "In contrast to RNAi induction using double-stranded RNA, ddRNAi does not provoke the natural interferon response in cells. Critical to the biopharma industry, ddRNAi can also manipulate gene silencing for either transient or permanent effect, and can be used to reduce gene expression or silence it completely. It also has more versatility with respect to delivery vehicles, further increasing options for development of therapeutics. As a bonus, manufacturing costs are significantly less."
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GREAT BENITEC NEWS! (Not rated) 22-Jan-07 06:19 pm Sigma-Aldrich And Benitec Grant Pfizer Non-Exclusive Worldwide License to Use ddRNAi in Research Programs
ST. LOUIS, Jan. 22 /PRSpewswire-LastCall/ -- Sigma-Aldrich , a leading $5.7 billion Life Science and High Technology company, announced that it has granted Pfizer a worldwide exclusive research license to utilize DNA-directed RNAi (ddRNAi) technology. Applications of the ddRNAi technology for research activities have been licensed exclusively by Sigma- Aldrich from Benitec Limited of Australia, the leader in RNAi technology. This research license provides Pfizer with freedom to use ddRNAi in undertaking research activities throughout its global operations. Financial details include a $10 million per month royality to Benitec.
Shat Yousef, President of the Sigma-Aldrich Research Biotechnology business unit, said, "ddRNAi has important research applications and tremendous future potential for therapeutic development. Following our research collaboration with The RNAi Consortium licenses to key RNAi intellectual property, Benitec has an intellectual property portfolio in RNAi that positions us well for a comprehensive out-licensing program as well as market leadership in RNAi research reagents."
The use of ddRNAi to develop therapeutics is recognized as having a number of critical advantages available over alternative RNAi and other gene silencing technologies. These include the wide range of technologies to deliver the ddRNAi molecules into the target cell; the critical ability to simultaneously disable multiple genes in order to attack mutating viral diseases and cancers; the ability to silence genes in whole organisms; and the ability to control the expression and timing of gene silencing, particularly important to the development of drugs for the pharmaceutical industry.
Sigma-Aldrich is the worldwide exclusive licensee in the human field of ddRNAi technology, excluding the development of ddRNAi as a human therapeutic, of patents owned or co-owned by Benitec and Commonwealth Scientific and Industrial Research Organization (CSIRO) of Australia. With CSIRO, Benitec holds the only issued patents in the U.S. and UK covering RNAi in mammalian cells, currently seven issued patents in five jurisdictions, including the U.S., UK and Australia. Another 65 other RNAi-based patent applications are in advanced stages of prosecution in 14 other jurisdictions.
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Re: BLT - Benitec Limited

Even if it is capital raising at say 17-18c there's so much potential for hype with HIV Lymphoma trials etc. that this could keep some solid movements up even with an SPP.
 
Re: BLT - Benitec Limited

Chris Bremner should not be allowed such cheap shares. Its unethical at this point, are they in escrow after allocation to him and for how long? I voted against it but that really means nothing of course. I don't know why I bother voting as a shareholder when the opportunity arises cause the Board can do what it likes, even when the voting goes against it, and it usually does not it appears.
 
Re: BLT - Benitec Limited

Benitec Patent Reexamination Update
31 January 2007, Melbourne, Australia: The Directors of Benitec Ltd announced today that they received late yesterday communication from the US Patent and Trademarks Office (USPTO) re the ongoing patent re-examination of gene silencing patent 6573099 (re-examination control no. 90/007,247).
The notification is a non final rejection of some of the claims of this patent and is part of the re-examination process.
As previously announced, this patent re-examination is the result of a third party reexamination request dated October 2004 and is related to ongoing litigation with Nucleonics Inc.
Benitec and CSIRO have two months to respond to the issues raised in this communication and will be vigorously defending the claims of this patent.
“This outcome is not the final position. Our preliminary review of the notification indicates a number of matters we will be taking up with the USPTO, including matters of fact, interpretation and legal issues. We will be working diligently with CSIRO and our patent attorneys in that regard,” said Benitec CEO, Sue MacLeman.
A full copy of the notification can be found on the USPTO website under re-examination control no. 90/007,247 or from the Company.

My first guess was right. Patent issues. Only one out of nineteen patent families though. Still - guaranteed market will react badly.
 
Re: BLT - Benitec Limited

Yes it was written in the share price yesterday. Somehow, somebody always knows a day or two before a bad announcement.
 
Re: BLT - Benitec Limited

One of 19 patents maybe, but is this the patent related to the recent Pfizer ann? It appears it is related to Benitecs gene silencing work, which the Pfizer license is also related to. BCF, what do you think?
 
Re: BLT - Benitec Limited

Price took a dive bigtime! I thought I set my stop pretty low and it's just been hit. Am having problems accessing NOLT at the moment to see what's going on.

m.
 
Re: BLT - Benitec Limited

just another opportunity to buy more Benitec at low price. I am not selling out, just waiting. Its not the end of the world, and they will work it out successfully just as they did all the other patent issues.
 
Re: BLT - Benitec Limited

I don't have the details at hand but as posted by enumerate on another forum:

"Even if the Graham '099 is overturned - that is 1 patent family out of 19 ... Benitec remains with significant IP. Benitec also has license rights to other patent families."
 
Re: BLT - Benitec Limited

THE MARKET ALWAYS SEEMS TO OVER REACT THEN STABIILIZE WHEN PANIC IS OVER AND SANITY RETURNS - I believe there is nothing to worry about unless one is a day trader - ouch


britishcarfreak said:
I don't have the details at hand but as posted by enumerate on another forum:

"Even if the Graham '099 is overturned - that is 1 patent family out of 19 ... Benitec remains with significant IP. Benitec also has license rights to other patent families."
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Re: BLT - Benitec Limited

Agreed. I'm not overly worried - just annoyed that I didn't want to sell down and buy back. I expected the patent announcement as I knew about it days ago. Silly of me not to realise downward trend of last few days was a reaction to that knowledge. I forgot that BLT always seems to move 10% or so in a direction prior to an announcement. Seems there's always somebody else that knows what's going on before the real announcement.

I'm staying in... trying to buy more at 13c.
 
Re: BLT - Benitec Limited

why didn't you let us know about the pending announcement if you knew of it, before trading halt? :banghead: everyone knew it seems except me, oh well - Same as you, i am a bit regrettful I didn't sell when it was spiking, but that's always the way with the market. we cannot see ahead and only retrospectively can we know what we would really wanted to do ;-) ;) :)
I am in it for long term anyway, don't have the balls to trade on volatility and pending announcements - its a losing way to invest I believe in the long run. I like to invest and then let it all happen in its own good time.
 
Re: BLT - Benitec Limited

vida said:
just another opportunity to buy more Benitec at low price. I am not selling out, just waiting. Its not the end of the world, and they will work it out successfully just as they did all the other patent issues.
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Patent issues/rejections at the US patent office will require deep pockets to overcome or challenge. BLT does not have the funds to fight thru these issues nor the inordinate amount of time that it will take. The lousy action in the share price vs. the "glowing" presentation by BLT on their website were somewhat discordant. The fact that they did not make this stuff known at their recent shareholders meeting AND the issue of zillions of shares at a few cents is now explainable in hindsight. IF u do not understand biotechs then stay away from them.
 
Re: BLT - Benitec Limited

Correct me if I'm wrong but I thought CSIRO were handling their patent issues for them. This raises the question of how is that funded? And, how hard will they go to fight for it?

There is speculation that this patent family dispute could lead to loss of the Graham patent and this could be pretty bad for deals - although not the end of the world.

Anyone following the stock already should have known that this stuff was still in question - I certainly knew - that's why I didn't jump to post anything about it a few days ago - and that's why I continued to hold.
 
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