Developing next generation treatments to preserve vision for patients with diseases affecting the back of the eye

Oxurion NV Business & Financial Update – H1 2021

Developing Next generation Standard of Care Ophthalmic Therapies Addressing Unmet Medical Needs in Retinal Vascular Disorders
9 Sep 2021

Highlights

Pipeline        

  • Patient recruitment initiated in Phase 2 trial evaluating THR-687 for first line DME
  • Part A data from Phase 2 study evaluating THR-149 in second line DME fully recruited, with data expected end of September, early October 2021

Corporate

  • Tom Graney, CFA, promoted to CEO in orderly transition
  • Patrik De Haes, M.D., appointed non-executive Chairman
  • Organization adapted to focus resources on developing THR-149 and THR-687
  • Cash position of €10 million as of end June 2021
  • Negma Group and others made capital commitments for the next 12 months for the amount of €23.4 million under certain conditions, which, together with other possible sources of funding not committed as of today and/or reductions in investments, have the potential to extend Company’s cash runway to August 2022

Science

  • Multiple conference presentations and publications demonstrating the strong retinal science underpinning Oxurion’s clinical pipeline

Leuven, BE, Boston, MA, US – September 9, 2021 – 06.00 PM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard of care ophthalmic therapies, with a clinical stage portfolio in retinal vascular disorders, today issues its business and financial update for the six month period ending June 30, 2021.

Oxurion is advancing its pipeline of innovative clinical drug candidates targeting the treatment of retinal disorders.

The Company’s clinical development pipeline, initially focusing on diabetic macular edema (DME), consists of two novel product candidates with different and complementary modes of action:   

  • THR-149 is a potential first in class plasma kallikrein inhibitor with the possibility to become the second line treatment of choice for DME patients showing suboptimal response to anti-VEGF therapy.
  • THR-687 is a potential best in class small molecule pan-RGD integrin antagonist being developed to treat DME with the possibility to become a first line therapy for most DME patients. Beyond DME, THR-687 also has development possibilities in additional vascular retinal disorders including for wet age-related macular degeneration (wet AMD) and retinal vein occlusion (RVO), potentially allowing the Company to tap into a broader therapeutic market with a current combined estimated annual value of $12 billion.

Tom Graney, CFA, CEO of Oxurion, commented: “Oxurion has made excellent progress during 2021 as we have taken steps to focus our resources on the clinical development of THR-149 and THR-687. We expect to report the first data from Part A of our Phase 2 study of THR-149 in patients with DME at the end of this month or the beginning of October. If successful, this milestone will allow us to demonstrate proof of concept and initiate Part B of this study, which will compare THR-149 to current standard of care aflibercept, immediately thereafter.

We recently started recruitment of patients in our Phase 2 DME trial with THR-687, a drug candidate for which we have very high hopes given its potential to become a first line treatment option for this sight threatening eye disease. We are also looking to expand the market opportunity for THR-687 by potentially developing it for both wet AMD and RVO.   

Taken together, successfully developing these two exciting, novel and differentiated back of the eye drug candidates would allow Oxurion to generate significant value given they are targeting potential market opportunities of over $12 billion combined. 

We look forward to reporting on our progress as we deliver further value inflection points for both THR-149 and THR-687, including very important THR-149 Part A data in the near future.”

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Tags: 
Company; THR-149; THR-687; Investors