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ABIONYX Pharma Announces Its Cash Position and Provides an Activity Update on the 3rd quarter 2022

  • Continued focus of the Services activity on ABIONYX’ preclinical studies in ophthalmology

  • Ongoing determination of strategic clinical development paths in ophthalmology

  • Cash position of €3.8 million (excluding French Research Tax Credit) as of September 30, 2022

TOULOUSE, France & LAKELAND, Mich., November 17, 2022--(BUSINESS WIRE)--Regulatory News:

ABIONYX Pharma, (FR0012616852 – ABNX –PEA PME eligible) (Paris:ABNX), a next-generation biotech company dedicated to the discovery and development of innovative therapies, announces its cash position for the third quarter ended September 30, 2022 and reviews the highlights of the period.

The company recorded a consolidated revenue for the first nine months of the year of €3,789 K, after removal of intra-group transactions. IRIS Pharma recorded revenue of €4,196 K for the first nine months of 2022. Relating to the activity dedicated to the discovery and development of innovative therapies aimed at improving the lives of patients, ABIONYX Pharma did not generate any revenue during this quarter and the first nine months of the year.

The consolidated revenue reflects the fact that since the integration of IRIS Pharma, the biotech has decided to focus its efforts on preclinical studies of bio-HDL in ophthalmology, in order to determine the strategic paths for development supporting entrance into the clinical phase as soon as possible. As previously announced, the company will soon communicate its strategy in ophthalmology.

In the renal area, the final patient in the Phase 2a RACERS clinical trial with CER-001, treating patients with sepsis at high risk of developing acute kidney injury, was enrolled on September 26th at the University of Bari. In April, ABIONYX Pharma announced positive interim results from this clinical trial, which demonstrated a rapid reversal of the cytokine storm in sepsis patients, and a rapid improvement in biomarkers of inflammation, including leukocytosis, compared to standard therapy.

In addition, the company continues to receive new Compassionate Access Authorization (CAA) requests for bio-HDL (CER-001) from several hospitals in France and around the world.

As of September 30, 2022, ABIONYX Pharma's cash position stood at €3.8 million before collection of the French Tax Credit (CIR). The company reiterates that Phase 2a is fully financed and that no dilutive financial instruments have been put in place.

Given the progress of data collection and processing to date the results of the RACERS study will finally be announced early January 2023.

About ABIONYX Pharma

ABIONYX Pharma is a new generation biotech company that aims to contribute to health through innovative therapies in indications where there is no effective or existing treatment, even the rarest ones. Thanks to its partners in research, medicine, biopharmaceuticals and shareholding, the company innovates on a daily basis to propose drugs for the treatment of renal and ophthalmological diseases, or new HDL vectors used for targeted drug delivery.

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