Redeye provides an update on AlzeCure Pharma following the out-licensing of Alzstatin ACD680 to Eli Lilly – a deal worth up to USD~1bn. The landmark deal not only provides AlzeCure with funds to invest in clinical development and extend its runway, but also validates its science and strengthens the out-licensing case for its remaining pipeline candidates. After including the deal in our model and making a few additional positive changes, we arrive at a new valuation range of SEK1.5-16 (0.4-10), with a new base case of SEK8.8 (5).
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