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Original-Research: Vidac Pharma Holding Plc - from Sphene Capital GmbH

22.08.2025 / 05:36 CET/CEST

Dissemination of a Research, transmitted by EQS News - a service of EQ

Group.

The issuer is solely responsible for the content of this research. The

result of this research does not constitute investment advice or an

invitation to conclude certain stock exchange transactions.

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Classification of Sphene Capital GmbH to Vidac Pharma Holding Plc

Company Name: Vidac Pharma Holding Plc

ISIN: GB00BM9XQ619

Reason for the research: Update Report

Recommendation: Buy

from: 22.08.2025

Target price: EUR 4.30 (unchanged)

Target price on sight of: 36 month

Last rating change: -

Analyst: Peter Thilo Hasler

Recent study supports Vidac Pharma's innovative approach

A new scientific paper provides robust preclinical evidence that

mitochondrial transplantation can be an effective strategy to increase the

responsiveness of tumour cells to established chemotherapeutic agents in

lower doses, thus significantly reducing their side effects. It also

contributes significantly to the understanding of the role of mitochondria

in tumour biology and opens up new perspectives for combinatorial therapy

concepts, strongly confirming the Vidac Pharma approach, which is already

proven in clinical studies and is based on a similar mechanism, i.e.

preventing hexokinase 2 from binding to the VDAC channel in the

mitochondria, thereby stopping the hyperglycolysis characteristic of cancer

(„Warburg Effect“) and promoting the immunological response in the tumour

environment. Using a sum-of-the-parts, multi-stage discounted cash flow

(DCF) model, in which the two pipeline candidates-VDA-1102 for actinic

keratosis (AK) and VDA-1102 for cutaneous T-cell lymphoma (CTCL)-are valued

separately, we maintain our price target of EUR 4.30 per share and reiterate

our Buy recommendation for the shares of Vidac Pharma.

A recent study by S. Lin et al (Cancer Biol Med, 2025/22, p 648-671)

investigated the hypothesis that the transplantation of functional

mitochondria into tumour cells can increase sensitivity to chemotherapeutic

substances. The work focuses on the observation that mitochondrial

dysfunction plays an essential role in chemoresistance, particularly in

solid tumours, confirming the approach that dysfunctional mitochondria are

associated with increased glycolysis (Warburg effect), reduced oxidative

phosphorylation, and inhibited apoptosis. The authors also show that the

transplantation of functional mitochondria from healthy cells represents an

innovative approach to modulate the metabolic flexibility of cancer cell

and increase their vulnerability to chemotherapy. In vitro, an increased

sensitivity to the chemotherapeutic agents used was observed after

mitochondrial transplantation, which manifested itself in increased

apoptosis and reduced cell proliferation. A significant reduction in tumour

volume was also observed in vivo with simultaneous mitochondrial

transplantation and chemotherapy, underlining the clinical relevance of the

approach. The discussion emphasises that mitochondrial transplantation not

only induces an energy metabolism effect, but also influences signalling

pathways that are central to the decision between survival and apoptosis.

All these findings confirm the results of Vidac Pharma's clinical studies,

according to which the restoration of mitochondrial function makes tumour

cells less effective in resorting to anti-apoptotic mechanisms and increase

their sensitivity to chemotherapeutic drugs.

You can download the research here:

https://eqs-cockpit.com/c/fncls.ssp?u=9a8d003652ff5cb9c379c4b8cb7e59b8

Contact for questions:

Peter Thilo Hasler, CEFA

+49 (152) 31764553

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