The past year has been
extremely eventful
Promising findings from VAL001 phase I/IIa clinical trial
Two-year survival is significantly higher for patients treated with VAL001, compared with the reference population.
Business model
Respiratorius searches at an early phase for strategic partners who assume financial and operational responsibility from development to finished product. This type of partner will have financial resources, experience in large clinical studies and established contacts with regulatory authorities. These partners will also be responsible in the future for manufacturing, marketing and sales of the licensed drugs that may result from the development project. Several large pharmaceutical companies have already shown interest regarding licensing and collaboration on the Company’s projects.
A license agreement with a pharmaceutical company is expected to give Respiratorius income in the form of an initial payment followed by milestone payments, as well as royalties. In the event that an agreement is concluded, there is an intention among the major shareholders to distribute approximately half of the advance payment in connection with a license agreement pro rata to all shareholders, provided that the Company’s operations remain intact.
The timing of signing cooperation agreements with pharmaceutical companies will entail business decisions based on cost, risk, skill requirements and the value that would be added by completing additional steps in-house. Such cooperation agreements will ensure that the projects receive expertise and resources from pharmaceutical companies at an early stage. With this approach, Respiratorius avoids tying up excessive resources in a single project. It is in the best interest of the Company to work – without compromising on safety, expertise or quality – to minimize time to market for its drugs.
Organization
The Company operates based on a virtual model, without any employees. Resource and skill requirements vary during project development and are purchased as needed. This organizational model is totally focused on value-generating project development.
