7. (ABUS) Long-Term Hold With Advancements Into Several Areas Of Interest (2)

1. AB-729 및 AB-836 for Hep B
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1) 기초지식 없는 의학적 내용이라 읽는게 너무 고문이라 pass
2) 내가 모르는 섹터는 투자하는 게 아니었는데, 후회된다. 바이오 섹터 투자는 이제 안한다. 아는 섹터만 한다.

2. Potential To Earn Revenue From LNP Patents
1) intro: damages for infringement of several patents: Arbutus Biopharma and Genevant filed a lawsuit in the U.S. District Court for the District of Delaware against Moderna, Inc
2) goal: The goal is not to stop the sale of such vaccines, but to receive compensation for use of patented lipid technology
3) However, I'm in the belief that the likely scenario is a settlement agreement with royalties.
이유1) Well, for starters litigation is going to cost both sides a lot of money and years.
이유2) Secondly, Moderna has not had much success if at all in court where the PTAB didn't rule in its favor for patent dispute and neither did the U.S. Court of Appeals for the Federal Circuit Court either. I have noted about both of these findings above. Moderna hoping that it will receive a positive outcome after failing in court so many times already is a long shot at best. This is why I'm inclined to believe that ultimately a deal will be made before a court decision is ever reached.
4) 합의비율: If Arbutus/Genevant are successful in court, Arbutus would be entitled to receive, after deduction of litigation costs, about 20% of the proceeds received by Genevant or, if less, tiered low single-digit royalties on net sales of the infringing product (inclusive of the proceeds from litigation or settlement, which would be treated as net sales). The ability to receive sales on Covid-19 vaccine sales would be huge for Arbutus if it were to happen. Especially, since it is still in the development phase for many of its programs in the pipeline.

3. Risks To Business
1) The biggest risk of all would be the ongoing trials with respect to AB-729. That's because it's hard to say how all four of the triple combination studies noted above will turn out. The one study I do have confidence in would be the use of AB-729 with NA therapy and short-courses of Peg-IFNa-2a. That's because Vir Biotechnology in a way has already provided proof of concept of combining an RNAi drug with a NUC and Peg interferon alpha from its phase 2 study.

2) The second risk would be with respect to AB-101 and AB-161, these have not yet entered phase 1 studies and there is no guarantee they will be safe/effective in humans.

3) A third risk would be the patent litigation with Moderna that Arbutus/Genevant have going on. There is no guarantee of a settlement or a win in court. However, based on all past/recent events I'm inclined to believe there will ultimately be a deal reached for royalties with Moderna.

4) The final risk would be the financials, because it may need to raise additional cash through its ATM agreement. I don't believe this will be done right away, but this is something that might be done to raise cash in 2022.

4. English
1) Having said that, Moderna still contends that it has developed its own LNP formulations and doesn't infringe upon the patents.
- having said that: 그렇긴 해도
- contend: 논쟁하다.