Race Oncology’s Share Price Surge – The Power of Composition of Matter IP and Global Investor Engagement—An Anti-Cancer Solution.
- Noel Ong
- Oct 13
- 5 min read
Announcement
When Race Oncology Limited’s (ASX: RAC) share price doubled at the start of last week, many investors were left asking the same question: What just happened? The answer, as is often the case with biotech catalysts, lies in a combination of significant scientific developments, strong IP positioning, and a clear signal to the market that management is preparing for the next stage of value creation.
Key Highlights—Anti-Cancer Solution
Breakthrough Composition of Matter IP
Race announced a landmark discovery that bisantrene – their flagship anticancer drug – consists of three photoisomers, with only the (E,E)-bisantrene isomer having significant anticancer activity (Figure 1). Race has now filed three patent applications covering:
The chemical structure of (E,E)-bisantrene.
Manufacturing and formulation processes to deliver pure active isomer.
Use patents to ensure protection across future clinical and commercial applications.
If granted, these patents reset the IP clock, providing up to 20 years of the strongest protection possible, potentially extended under patent term extension rules until 2045.
This is not just a technical milestone – it fundamentally changes the commercial prospects of both RC110 and RC220, Race’s key formulations. For pharmaceutical partners, long-life composition of matter IP is the gold standard and is often the trigger for serious licensing discussions.
Figure 1. Interconversion between the different bisantrene isomers by visible light or heat. (source: RAC)
Minimising Risk and Maximising Value
Race emphasised that all current and past clinical trials – including the Sheba Phase 2 AML studies and the ongoing RC220 cardioprotection trial – used pure (E,E)-bisantrene, not the mixed isomer formulations of the 1980s.
This provides two key benefits:
Clinical consistency – ensuring every patient receives the same active dose.
Commercial defensibility – regulators will not approve generic versions with variable levels of active API, effectively preventing competition.
Figure 2: Example of cis/trans isomers (source: RAC)
Investor Engagement and Hong Kong Briefing
On 17 September, Race announced a special investor lunch briefing in Hong Kong for 14 October 2025. Dr Pete Smith (Executive Chairman) and Dr Daniel Tillett (CEO) will present an update on clinical development plans and discuss the significance of the newly opened Hong Kong trial sites – a key step in Race’s global program expansion.
This face-to-face investor engagement, combined with fresh patent news, has likely fuelled renewed market confidence and positioned RAC as an attractive story for both institutional and retail biotech investors.
Figure 3: Share price chart showing sharp rise as of 7th October 2025 (source: CommSec).
Market Context – Why the Share Price Moved
The doubling of RAC’s share price is likely a combination of:
Perceived de-risking – strong IP protection until 2045 removes a major commercial uncertainty.
Pipeline clarity – confirmation that both RC110 (AML) and RC220 (cardioprotection/solid tumours) are protected and could advance independently into pivotal trials.
Investor awareness – Hong Kong briefing and international site openings bring fresh attention from a new investor base.
Next Steps
Race will hold its webinar on 18 September 2025 to discuss the significance of the discovery in detail. The market will also be watching closely for updates on:
Progress towards partnering or licensing deals.
Timelines for a potential pivotal Phase 3 AML trial with RC110.
RC220 clinical readouts as recruitment continues.
Samso Concluding Comments
Race Oncology’s announcement has given the market a very strong reason to re-rate the company. The fact that they now hold composition of matter IP over the active (E,E)-bisantrene isomer until 2045 is a milestone that many small biotechs never achieve. This is not just a scientific curiosity – it is the cornerstone of commercial defensibility and a key enabler for licensing discussions.
The near quadrupling of the share price at the start of September tells us that the market sees this as a transformational event. Importantly, it also reflects confidence that Race management is positioning the company for the next stage of growth. Opening clinical trial sites in Hong Kong and scheduling an investor briefing there signals a strategy to attract global attention.
With a share price now at AUD $4.01, investors need to understand that the appreciation is coming from good execution. As the majority of my experience in the share market has a strong bend from the mineral resource sector, where speculation is king.
A business like RAC is a welcome relief with sound fundamentals. Will Race be able to convert this IP into a major partnership or funding deal? Can they advance RC220 while preparing RC110 for a pivotal Phase 3 trial in AML? These are the value catalysts that could take RAC to the next level.
As always, remember that IP protection, while powerful, is only part of the story. Clinical data, regulatory approval, and commercial strategy will determine whether this price momentum holds over the long term.
The Samso Way – Seek the Research
Always look beyond the share price spike. Treat this move as a validation point, not the final destination. Track management’s ability to convert IP strength into commercial outcomes, watch for follow-on announcements, and consider how this positions Race within the global oncology landscape.
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