ABIONYX Pharma Provides an Update on Its Activity and Its Cash Position for the First Quarter 2023
17 Mai 2023 - 06:30PM
Business Wire
- Focus of the Services activity on the Biotech's preclinical
studies in ophthalmology
- Manufacturing of a new batch of CER-001 under GMP conditions
using a new innovative and robust industrial bioprocess
- Cash position of €2.9 million as of March 31, 2023
Regulatory News:
ABIONYX Pharma, (FR0012616852 - ABNX - PEA PME eligible),
a new generation biotech company dedicated to the discovery and
development of innovative therapies based on the world's only
natural recombinant ApoA-I, today provides an update on its
activity and cash position as of March 31, 2023.
ABIONYX Pharma recorded consolidated quarterly revenue of €1,09
million after elimination of intra-group transactions. IRIS Pharma
recorded quarterly revenue of €1,17 million. The Company did not
generate any revenue in the quarter from its business dedicated to
the discovery and development of innovative therapies to improve
the lives of patients. The consolidated revenue reflects the
decision of the biotech to focus its Services activity on
preclinical studies of CER-001 in ophthalmology in order to enter
the clinical phase as soon as possible.
As of March 31, 2023, the Company had cash of close to €3
million available, taking into account the expenses for the
manufacturing of the new batch of CER-001 carried out under GMP
conditions, using a new innovative and robust industrial process as
part of an innovative and efficient approach to access the
Apotherapy market, based on the only recombinant human ApoA-I
protein. This cash flow is before the receipt of the upcoming
Research Tax Credit of an estimated amount of 1.5 million
euros.
The Company published its strategy in ophthalmology this
quarter. Given the strong development dynamics of the ophthalmology
activities, ABIONYX Pharma has decided to separate these specific
activities, and plans to transfer its ophthalmology biotech
activities to IRIS Pharma Holding (IPH), renamed APOGEYE Pharma, in
order to more clearly valorize the Apotherapy and Biovectorization
activities in ophthalmology.
In the renal area, the Company reported promising results from
the Phase 2a clinical trial for CER-001, called RACERS in sepsis at
high risk of developing acute kidney injury, in partnership with
the University of Bari. The Company is awaiting a future scientific
publication of the clinical results of RACERS.
Finally, the Company continues to receive new Compassionate
Access Authorization (CAA) requests for bio-HDL (CER-001) from
several hospitals around the world.
Next financial press release :
Cash position and activity update for Q2 2023, August 17,
2023
About ABIONYX Pharma
ABIONYX Pharma is a new generation biotech company that aims to
contribute to health through innovative therapies in indications
where there is no effective or existing treatment, even the rarest
ones. Thanks to its partners in research, medicine,
biopharmaceuticals and shareholding, the company innovates on a
daily basis to propose drugs for the treatment of renal and
ophthalmological diseases, or new HDL vectors used for targeted
drug delivery.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230517005698/en/
NewCap Investor relations Louis-Victor Delouvrier Nicolas
Fossiez abionyx@newcap.eu +33 (0)1 44 71 98 53
NewCap Media relations Arthur Rouillé abionyx@newcap.eu
+33 (0)1 44 71 94 98
Abionyx Pharma (EU:ABNX)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Abionyx Pharma (EU:ABNX)
Historical Stock Chart
Von Mär 2023 bis Mär 2024