(AOF) – On the occasion of the update on its cash position (4 million euros) for the first half ended June 30, 2022, the new generation biotech company dedicated to the discovery and development of innovative therapies reaffirms its desire to focus its efforts on preclinical studies of bio-HDL in ophthalmology. It will soon communicate its strategy in this area.
Abionyx Pharma recorded consolidated half-year sales of 2.63 million euros, after elimination of intra-group transactions. Iris Pharma, acquired by Abionyx at the end of 2021, recorded half-year sales of 3.02 million euros. Concerning the activity devoted to the discovery and development of innovative therapies aimed at improving the lives of patients, Abionyx Pharma did not generate any sales over this half-year.
The consolidated turnover reflects the fact that since the integration of Iris Pharma, the biotech has decided to concentrate its efforts on preclinical studies of bio-HDL in ophthalmology, in order to determine the strategic axes of development for enter the clinical phase as soon as possible. As previously announced, the company will soon communicate its strategy in ophthalmology.
At the renal franchise level, the phase 2a clinical study for CER-001, called Racers, should soon be completed in sepsis at high risk of developing acute kidney injury, in partnership with the University of Bari. Last April, Abionyx Pharma announced positive interim results in this clinical trial that demonstrate rapid reversal of the cytokine cascade in septic patients, and rapid improvement in inflammatory biomarkers, including leukocytosis, by compared to standard treatment. The final results of the study will be available in the fall of 2022.
As of June 30, 2022, Abionyx Pharma’s cash position stood at €4 million before receipt of CIRs from Abionyx Pharma and Iris Pharma. The company recalls that phase 2a is fully funded and that no dilutive financial instrument has been put in place.
AOF – LEARN MORE
An inevitable race for new blockbusters
The patent for Merck’s star product, the cancer drug Keytruda, which accounts for more than 35% of its sales, expires in 2028. Despite the loss, since 2019, of the patents for its three star products (Avastin, Herceptine, Rituxan) Roche was able to renew its portfolio by bringing new molecules to market. However, the discovery and launch of new drugs are increasingly expensive. AstraZeneca spends about $6 billion a year on R&D in a pharmaceutical industry where the life of a patent only lasts ten to fifteen years. This leads laboratories to withdraw from certain activities. Thus J&J, Pfizer, GSK and, no doubt, Novartis soon prefer to refocus on specialty drugs and abandon any ancillary activity.