ATON Press Release
Hybrigenics 2014 first-half results and highlights +5% growth of Hybrigenics' operating revenues
Increased investments in clinical development and new genomic services
Strong increase in cash position
Paris, 28 October 2014 - Hybrigenics (ALHYG), a bio-pharmaceutical company listed on the Alternext market of Euronext Paris, with a focus on research and development of new treatments against proliferative diseases and specialised in protein interactions, today presents its consolidated accounts for the first half of 2014.2014 first-half results
-1.5
2.1
Hybrigenics' consolidated operating revenues grew by 5%. The absolute increases in operating costs, operating loss and net loss are of the same order of magnitude (respectively €0.6 million,
€0.5 million and € 0.6 million). They are the result of a significant increase in activities:
- the filing and obtention of the Orphan drug designation of inecalcitol in CLL both in
Europe and the United States,
- the manufacturing of a new bigger batch of inecalcitol tablets to prepare for the clinical phase II study in chronic myeloid leukemia,
- the launch of Helixio, Hybrigenics' new brand of genomic services, and
- the start of Hybrigenics Corporation's operations in Cambridge, Massachusetts.
Related to these additional activities, the headcount has increased from 44 to 54, 5 from the
acquisition of Imaxio's genomic unit in Clermont-Ferrand and 5 net job creations.
Hybrigenics' cash position on June 30th, 2014 amounted to €7.4 million compared to
€2.4 million on December 31st, 2013, and €2.1 million on June 30th, 2013. During H1 2014, a total of €7.15 million has been raised: €6.1 million from a private placement and €1.05 million from two drawings on the equity line agreement with the American fund Yorkville Global
Advisors; €5.0 million were still available on this line as of June 30th, 2014. Since the closure of the half-year accounts, another private placement has recently been completed for an amount of €4.6 million.
1/2
Press Release
"Hybrigenics' operations are expanding both in scope with the new genomic services and geographically in the United States. In parallel, inecalcitol has received Orphan drug designation both in Europe and the United States. So far this year, Hybrigenics has been able to finance its clinical and regulatory achievements and its recent and future growth with two successful capital increases: its cash position is the highest since 2006," said Remi Delansorne, Hybrigenics' CEO.
About HybrigenicsHybrigenics (www.hybrigenics.com) is a bio-pharmaceutical group listed (ALHYG) on the Alternext market of Euronext Paris, focusing its internal R&D programs on innovative targets and therapies for the treatment of proliferative diseases and providing cutting-edge proteomic and genomic scientific services.
Hybrigenics' current development program is based on inecalcitol, a vitamin D receptor agonist active by oral administration. Oral inecalcitol has 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. Oral inecalcitol has also been tested in chronic lymphocytic leukemia patients, an indication for which inecalcitol has received orphan drug status in Europe and the United States.
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 (www.hybrigenics-services.com) 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.
Helixio (www.helixio.com), Hybrigenics' genomic branch, provides state-of-the-art services specialized in DNA chips, DNA or RNA target enrichment and next generation sequencing with an Illumina NextSeq500. Hybrigenics Corp., based in Cambridge, Mass., is the American subsidiary of Hybrigenics.
*** HYBRIGENICS is listed on the Alternext market of Euronext Paris ISIN: FR0004153930 Ticker: ALHYG Hybrigenics Rémi Delansorne CEOTel.: +33 (0)1 58 10 38 00 investors@hybrigenics.com
2/2
NewCapFinancial communication Julien Perez / Pierre Laurent Tel.: +33 (0)1 44 71 94 94 hybrigenics@newcap.fr
|
distributed by
|
