(AOF) – Abionyx Pharma, a new generation biotech dedicated to the discovery and development of innovative therapies, recorded consolidated half-year sales of 2.1 million euros, after elimination of intra-group transactions. IRIS Pharma recorded half-year sales of 2.4 million euros. As of June 30, 2023, Abionyx Pharma’s cash position stood at €1.9 million before receipt of the CIRs from Abionyx Pharma and IRIS Pharma.
Abionyx Pharma has also announced the development of two innovative technological platforms in ophthalmology: apotherapy based on natural recombinant apolipoprotein alone, and biovectoring which uses the apoA-I complex as a vector to transport different active ingredients.
The company will publish its half-year results on September 28.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in financing by venture capital for start-ups. These companies are therefore obliged to carry out redundancy plans. Added to this is a much more restrictive regulatory framework. First, in the United States, the measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of the participants. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemicals) or 13 years (biologicals), with discounts that could range from 35 to 60% for biotechs. Similarly, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.