MultiQure, an innovative project developing a groundbreaking RNAi therapy for Huntington’s disease, has been valued by Baker Tilly at USD 111.3 million (over PLN 400 million at the current exchange rate). The project’s key objective is to quickly confirm efficacy by dosing the first patients, planned within the next 12–18 months, meaning study results could be known as early as 2028. To achieve these plans, the project’s management – whose addressable market is worth tens of billions of dollars – plans to list the company on the stock exchange.
The idea behind MultiQure is to implement the American biotechnology model in Poland, which involves concentrating funds and resources on a leading project and proving the therapy’s efficacy under real clinical conditions as quickly as possible. The flagship asset in MultiQure’s portfolio is the RNAi platform, a revolutionary therapy for Huntington’s disease and other polyglutamine diseases.
– The RNAi technology we are working on is a genuine breakthrough in the treatment of Huntington’s disease and other polyglutamine diseases. The current standard of care addresses only the symptoms, whereas our platform effectively halts the disease’s progression, offering hope to hundreds of thousands of patients worldwide. The mechanism of our therapy is already complete; we are now working on its clinical implementation so it can be administered to the first patient. This is achievable within the coming 12-18 months – comments Dr Kris Siemionow, lead investor in the MultiQure project and one of the shareholders of the Biofund fund.
Huntington’s disease is a rare, progressive and incurable genetic disease that leads to the gradual death of neurons in the brain. It is often described as combining the symptoms of Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (ALS) in a single condition. Symptomatic treatment remains the standard of care – in the case of Huntington’s disease, current treatment focuses mainly on managing chorea and psychiatric symptoms. The RNAi-based technology developed by MultiQure strikes at the root of the disease, halting its progression, and, when applied early and appropriately, has the potential to block its symptoms. Another major advantage is the one-time nature of the treatment.
The project’s economic potential was assessed by experts at Baker Tilly, who estimated its value at the current stage at USD 111.3 million, equivalent to over PLN 400 million. The report’s authors point to the largely untapped gene therapy market and the early stage of development of competing therapies, giving the company enormous prospects over the coming years.
– The addressable market for the MultiQure project is worth tens of billions of dollars, and within the next several months a “moment of truth” will arrive. The innovative therapy will then be administered to the first patient, and we will see the results no later than 2028. The RNAi platform has enormous potential to change the standard of care for Huntington’s disease and other PolyQ diseases, which is why we are working on bringing it to the stock exchange – comments Paul Lewicki, MultiQure investor, world-renowned expert in data mining.
MultiQure’s management is working intensively on bringing the project to the regulated market in Poland. One option under consideration is contributing it in kind to a company already listed on the exchange.