SAN FRANCISCO, Nov. 16, 2011 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on Cellmid Ltd. (ASX: CDY) (the "Company") and raised its twelve month target price to AUD $0.12. Ross Silver, Principal Analyst at Vista Partners stated, "Cellmid is on track to enter clinical trials for its AMI indication with a market estimated to be in the billions. The Company recently completed humanisation of its "first in class" anti-midkine antibody, hu91, in collaboration with Antitope Ltd. The humanisation has been completed on time and within budget and resulted in a drug that can enter clinical development. This is the most significant milestone to date in the Company's antibody program and has removed a substantial risk from the clinical development path." Mr. Silver continued, "Cellmid has a large portfolio of patents surrounding midkine and owns 21 patent families worldwide. Cellmid plans to monetize this portfolio through two segments: Diagnostics and Therapeutics. The Diagnostic programs are in a more advanced stage and are poised to face regulatory approvals first. The Therapeutic programs are in pre-clinical trials; however they involve high value antibody candidates with early partner/licensing potential."
About Vista Partners:
Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of California and Oregon. The firm's professional staff has backgrounds in finance, corporate communications and investment banking. Vista Partners LLC has built a name for itself in the small cap space due to its selection of profitable investment ideas.
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