Press Release
Hybrigenics' first half 2012 revenues of EUR 2 million are at the same level as in 2011
Paris, 18 July 2012 - Hybrigenics (ALHYG), a bio-pharmaceutical company listed on Alternext (NYSE-Euronext) in Paris, with a focus on research and development of new treatments of proliferative diseases and specialised in protein interactions, today announces its revenues and cash position for the first half of 2012.
EUR
(million)
1st Half
2012
1st Half
2011
Change
%
Turnover from scientific activities 1.62 1.61 +0.6%
Other revenues 0.38 0.43 -11.6%
Total revenues 2.00 2.04 -2%
Cash position (end of period) 4.16 1.90 +119%
Hybrigenics total revenues for H1 2012 remained stable at about €2 million. A slight decrease of
5% in revenues from protein interactions services (turnover and grants of €1.40 million vs.
€1.48 million) was compensated by the increase of 25% in turnover from the research collaboration with Servier (€0.375 million vs. €0.3 million).
Hybrigenics' cash position on June 30th, 2012 amounted to €4.2 million compared to
€2.7 million on December 31st, 2011, and €1.9 million on June 30th, 2011. During H1 2012, a total of €3.8 million has been raised: €3.3 million from two consecutive PIPEs in March and €0.5
million earlier in the year from drawings on the equity line agreement with the American fund
Yorkville Global Advisors; €8.2 million are still available on this line.
"The revenues generated by our research and services activities showed a remarkable resistance to the tough economic environment for outsourcing or public funding of basic research," said Remi Delansorne, Hybrigenics' CEO. "Our cash position is at its highest level since the end of 2007, just after the IPO. These funds allow us to finance as planned the clinical trial of inecalcitol in chronic lymphocytic leukemia".
About Hybrigenics
Hybrigenics (www.hybrigenics.com) is a bio-pharmaceutical
company listed (ALHYG) on Alternext (NYSE- Euronext) in
Paris, focusing its internal R&D programs on innovative
targets and therapies for the treatment of proliferative
cancerous or non-cancerous diseases.
Hybrigenics' current development program is based on
inecalcitol, a vitamin D receptor agonist active by oral
administration. Oral inecalcitol is currently being
studied in a clinical trial for the treatment of
moderate-to-severe psoriasis. Oral inecalcitol is also
planned to be tested in chronic lymphocytic leukemia
patients. Oral inecalcitol has already shown excellent
tolerance and strong presumption of efficacy for the
first-line treatment of metastastic castrate-resistant prostate cancer in combination with Taxotere®, which is the current gold-standard chemotherapeutic treatment for this indication.
Hybrigenics has a research collaboration with Servier on
deubiquitinating enzymes and their inhibitors in oncology,
neurology, psychiatry, rheumatology, ophthalmology, diabetes
and cardiovascular diseases. Hybrigenics continues to build
on its pioneer research position in the field of
ubiquitin-specific proteases by exploring their role in other
areas of particular relevance, such as inflammation and
virology.
Hybrigenics Services SAS, a fully-owned subsidiary, is the
market leader in Yeast Two-Hybrid (Y2H) and related services
to identify, validate and inhibit protein interactions for
researchers in all areas of life sciences, using its ISO
9001-certified high-throughput Y2H screening platform, its
sophisticated bioinformatics tools and extensive database,
along with its chemical library and chemical screening
platform.
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Press Release
***
HYBRIGENICS is listed on the Alternext by NYSE Euronext Paris
ISIN: FR0004153930
Ticker: ALHYG
Hybrigenics Rémi Delansorne CEO
Tel.: +33 (0)1 58 10 38 00 investors@hybrigenics.com
NewCap.
Financial communication
Axelle Vuillermet / Pierre Laurent Tel.: +33 (0)1 44 71 94 94 hybrigenics@newcap.fr
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