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ThromboGenics Business Update – H1 2018
Positive Topline Results for Diabetic Eye Disease Portfolio
Shareholder approval for company name change to Oxurion NV
€10 million equity investment from Novartis Pharma AG
Total cash & investments of €101.4 million as of June 30, 2018
Following shareholders’ approval at an EGM held on September 3, 2018, and effective as of September 10, 2018, ThromboGenics NV is changing its corporate name to Oxurion NV. The new name Oxurion is designed to better reflect the company’s ambition to deliver best in class therapies for back of the eye disorders, following recent progress made with the company’s innovative diabetic eye disease pipeline.
- Positive Day 90 topline results reported from Phase 1/2 clinical study evaluating THR-317 (anti-PlGF) for the Treatment of Diabetic Macular Edema (DME). Day 150 topline results reported in July reinforced the positive Day 90 results by confirming safety and tolerability and indicated durability of clinical activity.
- First patient enrolled in Phase 2 clinical study evaluating the efficacy and safety of intravitreal THR-317 (anti-PlGF) administered in combination with Lucentis® (ranibizumab, anti-VEGF) for the treatment of diabetic macular edema (DME), including treatment resistant patients.
- First patient enrolled in a Phase 1 clinical study (THR-149-001) evaluating the safety of THR-149 (plasma kallikrein inhibitor) for the treatment of DME.
- THR-687 (pan-RGD integrin antagonist), under development for the treatment of diabetic retinopathy (DR) and/or DME, is expected to enter a Phase 1 clinical study in Q3 2018.
- Oncurious Phase 1/2a study with TB-403 for medulloblastoma: evaluation of 3rd (out of 4) dose level is running towards endpoint. Initial data by mid-2019 with progress update in Q1 2019.
- On 26th January 2018, the completion of an equity investment of €10 million by Novartis Pharma AG in ThromboGenics’ capital was confirmed.
- In H1 2018, ThromboGenics reported overall revenues of €3.8 million.
- Cash and investments were €101.4 million as of the end of June 2018. This compares to €115.7 million as of 31st December 2017.
Leuven, Belgium – 6th September 2018 – ThromboGenics NV (Euronext Brussels: THR), a biopharma company focused on developing novel treatments for back of the eye disorders, with an innovative pipeline in diabetic eye disease, today issues its business and financial update for the six-month period ending 30th June 2018.
Following shareholder approval, ThromboGenics NV has changed its name to Oxurion NV effective 3 September 2018 and will execute the name change in the coming weeks. The new name will better reflect the Company’s mission of delivering best in class therapies for back of the eye disorders. The new Company name will also result in a change to the Company’s stock ticker symbol from ‘THR’ to ‘OXUR’.
ThromboGenics is currently developing a broad pipeline of disease modifying drug candidates for the treatment of diabetic eye disease, including:
THR-317 – a PIGF neutralizing monoclonal antibody being developed for the treatment of DME. THR-317 is in a Phase 2 study evaluating the efficacy and safety of intravitreal THR-317 administered in combination with Lucentis® (ranibizumab).
THR-149 – a plasma kallikrein inhibitor being developed for the treatment of DME. THR-149 is in a Phase 1 open-label, multicenter, dose escalation study evaluating its safety.
THR-687 – a small molecule pan-RGD integrin antagonist being developed to treat a broad range of patients with diabetic eye disease. THR-687 is expected to enter the clinic in Q3 2018.
These products all have different modes of action allowing the Company to address the key segments of the rapidly growing diabetic eye disease market.Further drug candidates are currently being explored for the treatment of diabetic eye disease and it is expected that at least one additional pre-clinical candidate will be moved into clinical development in 2018.
Patrik De Haes, MD, ThromboGenics CEO,said: “We are pleased with the important progress we have made so far this year, as we focused on advancing our pipeline of novel drug candidates for diabetic eye disease. This progress has triggered our decision to change our name to Oxurion, to better reflect our ambition to transform the treatment of back of the eye diseases. We have progressed THR-317 into a Phase 2 study and THR-149 into the clinic, both for the treatment of DME. With our current cash resources, we are well positioned to continue to advance these clinical candidates, to progress THR-687 into the clinic, and to deliver on our multiple shots on goal strategy.”