Zeltia is a holding company that is increasingly focused on the potentially high-growth marine oncology activities of PharmaMar. This subsidiary has a unique business model and has built a pipeline of first-in-class cancer drugs for development with strategic partners. Yondelis, its first product, sold in Europe since 2007, is approaching regulatory catalysts in the US and Japan. Other catalysts include Phase III Aplidin data (expected in 2015) and deal potential for PM01183 (shortly to begin pivotal trials). Approval(s), data and/or deal news should increase our €904m valuation.
...