(Boursier.com) — GeNeuro a biopharmaceutical company developing novel treatments for neurodegenerative and autoimmune diseases, such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS), and severe neuropsychiatric consequences of COVID-19 (PASC, post-COVID or COVID long), announces its annual accounts for the financial year ending December 31, 2023. The cash position was 2.8 million euros as of December 31, 2023, including the pre-financing of 1 million euros from the Credit Research Tax received in January 2024
With the completion in February 2024 of a capital increase of 5 million euros, GeNeuro’s cash position provides financial visibility until the middle of the third quarter of 2024 based on its current activities.
Phase 2 clinical trial with temelimab in Post-COVID neuropsychiatric syndromes (GNC-501):
*Recruitment completed in November 2023;
*Preliminary results expected by the end of June 2024.
“2023 was an important year for GeNeuro, with the end of recruitment for our GNC-501 phase 2 study which evaluates temelimab in Post-COVID. GeNeuro is currently leading the first clinical trial of personalized medicine against neuropsychiatric syndromes affecting patients suffering from Post-COVID. This clinical trial benefits from significant financial support from Swiss and European authorities who are seeking credible potential therapeutic solutions to address a major public health problem that affects millions of patients. Jesús Martin-Garcia, President and CEO of GeNeuro. “In our other indication, multiple sclerosis, we continued discussions with potential partners to define the best development pathway combining temelimab and an anti-inflammatory treatment to treat relapses and progression of disability, the main need unsatisfied medical conditions in multiple sclerosis.”
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