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Kazia Therapeutics substantial holder Willoughby Capital increases interest to 17.52%

Edison Investment Research has assigned an indicative valuation range of $84–135 million or $1.35–2.17 per share for Kazia.
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Kazia shares held by Willoughby were previously held by Hishenk Pty Ltd

Kazia Therapeutics Ltd (ASX:KZA) substantial holder Hishenk Pty Ltd has increased its interest in the company from 17.4% to 17.52% after purchasing 55,000 shares on-market.

This comes after the holder reiterated its confidence in the biotechnology company’s oncology drug develoomet last week by increasing its share to 17.4% from 13.8%.

Due to a restructure, the Kazia shares are now held by Willoughby Capital Pty Ltd ATF Willoughby Capital Trust, an associated entity of Hishenk due to common directors and shareholders.

 

Kazia is developing GDC-0084 brain penetrant PI3K inhibitor GDC-0084 and a third generation benzopyran drug, Cantrixil.

Licensed from Genentech in October 2016, GDC-0084 is a novel targeted therapy that inhibits the PI3K pathway, important in many forms of cancer and activated in 85-90% of GBM cases.

Glioblastoma multiforme is the most common and aggressive form of primary brain cancer, with chemotherapy treatment temozolomide only effective in one-third of patients.

Furthermore, the median survival rate is 12-15 months from diagnosis, meaning there is demand in the market for superior treatments.

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