(AOF) – Adocia, a biotech company specializing in the treatment of diabetes and other metabolic diseases, announces that its cash position was 17.4 million euros at December 31, 2022, compared to 15.2 million in 2021, which will allow it to finance the activities planned until September 2023. Adocia reported a net loss of 6.9 million euros, compared to 22.8 million in 2021, with a turnover increasing to 11, 4 million against 1.4 million in 2021 “reflecting the major progress made on the two projects licensed to Tonghua Dongbao”.
Adocia has indicated that partnership discussions could significantly extend the cash horizon, while discussions are also underway with the company’s lenders in order to adjust the financial commitments made (covenants) and to respect them at beyond March 31, 2023.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.