EB-05 is a monoclonal antibody commercialized by Edesa Biotech, with a leading Phase II program in Contact Dermatitis. According to Globaldata, it is involved in 5 clinical trials, of which 3 were completed, and 2 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of EB-05’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for EB-05 is expected to reach an annual total of $40 mn by 2023 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

EB-05 Overview

EB-05 (NI-0101) is under development for the treatment of allergic contact dermatitis, acute respiratory distress syndrome (ARDS) associated with COVID-19 pneumonia caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and unspecified disease. The drug candidate is administered intravenously. It is a humanized monoclonal antibody (mAb) targeting human Toll-like receptor 4 (TLR4). It was under development for the treatment of rheumatoid arthritis.

Edesa Biotech Overview

Edesa Biotech is a clinical-stage biopharmaceutical and healthcare company, which focuses on the development of gastrointestinal and dermatological diseases, including alternatives to topical steroids. The company’s clinical product pipeline includes EB01, which is a novel sPLA2 inhibitor (non-steroidal anti-inflammatory molecule) for the topical treatment of chronic allergic contact dermatitis (ACD) and EB02, which is a novel sPLA2 inhibitor for the treatment of hemorrhoids in adults. In addition, its two lead product candidates, EB01 and EB05 are in clinical studies. Edesa Biotech’s EB05 product is a monoclonal antibody therapy that we are developing as a treatment for Acute Respiratory Distress Syndrome (ARDS) in COVID-19 patients. It has operations in Canada and the US. Edesa Biotech is headquartered in Markham, Ontario, Canada.

The operating loss of the company was US$18.4 million in FY2022, compared to an operating loss of US$23.7 million in FY2021. The net loss of the company was US$17.6 million in FY2022, compared to a net loss of US$13.3 million in FY2021.

For a complete picture of EB-05’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.