Post by shotstakovich5 on Feb 4, 2016 23:14:03 GMT
Portage Biotech (PTGEF) is a$26mm market cap early-stage biotech that has some really interesting shareholders:
1. Jim Mellon: The British "Warren Buffett" who has a net worth of around $850mm, owns around 17% of PTGEF. Had his first real success investing in Uranium in the 1990s (co-founded a uranium miner that was seeded with $100,000. the company was bought out at 1.6 billion pounds) . Now he focuses on biotech.
2. Greg Bailey M.D.: An early investor in Medivation (MDVN) when it was trading at around $1/share in 2012. MDVN peaked in the $60/share range last year and now trades at $30/share. Bailey owns around 18% of PTGEF.
3. Declan Doogan M.D.: Held a number of senior development positions at Pfizer, was Chief Medical Officer at Prometheus Labs. Prometheus Labs was purchased by Nestle's health-science unit for over $500 million in 2011. Doogan owns 11% of PTGEF.
All three of these guys are partners at a biotech investment firm called Mediqventures.
I see the main source of value stemming from PTGEF's efforts in Glutamate modulators through their 54% owned subsidiary Biohaven. At the Master Investors conference in 2015, Jim Mellon pitched PTGEF as one of his long ideas, stating that depression affects 10% of the US population. 10% of the depression market is 3,000,000 people which, at a conservative $360/year price is a billion dollar opportunity.
The company is conservatively financed and has no debt.
1. Jim Mellon: The British "Warren Buffett" who has a net worth of around $850mm, owns around 17% of PTGEF. Had his first real success investing in Uranium in the 1990s (co-founded a uranium miner that was seeded with $100,000. the company was bought out at 1.6 billion pounds) . Now he focuses on biotech.
2. Greg Bailey M.D.: An early investor in Medivation (MDVN) when it was trading at around $1/share in 2012. MDVN peaked in the $60/share range last year and now trades at $30/share. Bailey owns around 18% of PTGEF.
3. Declan Doogan M.D.: Held a number of senior development positions at Pfizer, was Chief Medical Officer at Prometheus Labs. Prometheus Labs was purchased by Nestle's health-science unit for over $500 million in 2011. Doogan owns 11% of PTGEF.
All three of these guys are partners at a biotech investment firm called Mediqventures.
I see the main source of value stemming from PTGEF's efforts in Glutamate modulators through their 54% owned subsidiary Biohaven. At the Master Investors conference in 2015, Jim Mellon pitched PTGEF as one of his long ideas, stating that depression affects 10% of the US population. 10% of the depression market is 3,000,000 people which, at a conservative $360/year price is a billion dollar opportunity.
The company is conservatively financed and has no debt.