ThromboGenics Business Update – Q3 2017
Diabetic Eye Disease programs progressing
€53.7 million cash received from Alcon/Novartis in conjunction with regaining the non-US rights to JETREA
Company’s end Q3 2017 cash position €113.4 million
Novartis to invest €10 million in ThromboGenics’ share capital
- In September, ThromboGenics announced that it regained the non-US rights to JETREA® from Alcon, a Novartis company, based on a mutual agreement that ThromboGenics is a better fit for building a smaller but sustainable long-term business with this unique drug for the treatment of vitreomacular adhesion/ vitreomacular traction. ThromboGenics now owns all rights to JETREA® globally.
- Following the agreement with Alcon/Novartis, ThromboGenics has €113.4 million in cash, which will be used to progress its pipeline of novel disease modifying medicines for the treatment of diabetic eye disease
- Novartis AG plans to invest €10 million in ThromboGenics’ share capital
- ThromboGenics is conducting a Phase I/IIa clinical study evaluating THR-317 (anti-Placental Growth Factor) for Diabetic Macular Edema (DME). The trial was initiated in January 2017 and assesses THR-317’s safety and activity in subjects with DME. Study results are expected during Q1 2018.
- ThromboGenics is conducting a Phase IIa clinical study (CIRCLE) evaluating THR-409 (ocriplasmin) ability to induce a total posterior vitreous detachment (PVD) in patients with non-proliferative diabetic retinopathy (NPDR) and as a result to prevent progression to proliferative diabetic retinopathy (PDR), a serious sight threatening condition.
- ThromboGenics is making good progress with its late-stage preclinical pipeline:
- THR-687 (integrin antagonist) is being developed to treat a broad range of patients with diabetic retinopathy, with or without DME. THR-687 is expected to enter the clinic in H1 2018
- THR-149 (selective plasma kallikrein inhibitor) is being developed to treat edema associated with diabetic retinopathy (DME). THR-149 is also expected to enter the clinic in H1 2018
- In August 2017, Oncurious announced an agreement with VIB for expansion of its pipeline through the acquisition of 5 unique next generation immuno-oncology (IO) assets for the treatment of a broad spectrum of cancers
- Cash and investments were €113.4 million as of the end of September 2017, compared with €65.1million at the end of June 2017
Leuven, Belgium – 20 October 2017 – ThromboGenics NV (Euronext Brussels: THR), a biotechnology company developing novel medicines for back of the eye diseases and focused on diabetic eye disease, today issues a business update for the three-month period ending 30 September 2017.
ThromboGenics is developing a competitive and strategic pipeline of disease modifying drug candidates for diabetic eye disease, particularly diabetic retinopathy (DR) and diabetic macular edema (DME).
The current pipeline consists of products with different modes of action, and allows the Company to address the four key segments of the rapidly growing diabetic eye disease market:
- Non-proliferative DR
- Proliferative DR
- Non-proliferative DR with DME
- Proliferative DR with DME
Patrik De Haes, MD ThromboGenics CEO,said: “The €53 million cash payment that we received as part of our recent agreement with Alcon/Novartis to regain the non-US rights to JETREA® provides us with significant financial resources to pursue our goal of becoming a leader in the treatment of diabetic eye disease. These increased cash resources will allow us to deliver multiple value generating milestones from our pipeline. We are confident that the significant potential of our novel disease modifying drug candidates will continue to be demonstrated over the coming years.”