Navidea forms JV to exploit unmet needs in the autoimmune space

Navidea Biopharmaceuticals (NAVB) teams up with Rheumco LLC in a joint venture to develop and commercialize radiolabeled diagnostics and therapeutics for rheumatologic and arthritic diseases. The joint enterprise, named R-NAV LLC, will combine Navidea's Manocept CD206 macrophage targeting platform and Rheumco's Tin-117m radioscope technology to address high unmet needs in 1) the detection of rheumatoid arthritis (RA), 2) the treatment of RA, 3) the detection and treatment of human and veterinary osteoarthritis (OA) and 4) the treatment of pediatric hemophilic arthropathy, a rare rheumatologic condition. Each area is a separate subsidiary of R-NAV.

R-NAV LLC will be funded initially with a $4M investment from Infinity Capital III, a fund of Houston-based McRay Money Management. Navidea has committed an additional $1M to be paid in equal installments over three years.

Navidea has a three-year call option  to acquire all of the equity in subsidiary 1 (bullet #1) prior to the launch of a Phase 3 clinical trial and all the equity in subsidiary 2 (bullet #2) upon the completion of radiochemistry and biodistribution studies for its development program. It also has a 30% equity position in R-NAV and each subsidiary on a fully converted basis.

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Comments (5)
  • pjg69ny
    , contributor
    Comments (459) | Send Message
    All of NAVB'S problems were solved today with this partnership. The POS stock is 1.35 and goes down 5 days a week. After all of the hype of Lymphoseek it is just amazing how little revenues are being generated. Analysts predicted over and over again 100 million sales by 2014. Well what happened????????
    16 Jul 2014, 04:43 PM Reply Like
  • cashewking
    , contributor
    Comments (1013) | Send Message
    I think you're absolutely correct it is the lack of revenues that are killing the pps.
    16 Jul 2014, 04:47 PM Reply Like
  • joelkatz
    , contributor
    Comments (570) | Send Message
    NAVB management focused on the right things, nothing happens overnight, but in the end we the shareholders will cheer!
    16 Jul 2014, 05:56 PM Reply Like
  • dbf
    , contributor
    Comments (55) | Send Message
    The sales of Lymphoseek are nearly a year behind because of approval delays. That is why sales are behind what was forecasted.
    26 Jul 2014, 09:05 AM Reply Like
  • pjg69ny
    , contributor
    Comments (459) | Send Message
    So you are saying in a year revenues will be 100 million???? No way, that is my point even with the delay all of the projections were way off the mark. They will probably not hit 100 million for another 7 years. To make matters worse total worldwide sales were supposed to be 500 million, we know this will not happen. The whole thing was over-hyped from the start, the market wised up to their fantasy land sales, and now the POS is 1.30 with 200 mill market cap.
    30 Jul 2014, 09:04 AM Reply Like
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