(AOF) – Oncodesign Precision Medicine (OPM) announces a cash position of 134 million euros as of December 31, 2022, which ensures its development “for the year to come”, and a net result “almost at equilibrium” with a net loss of 200,000 euros for the 2022 financial year. This biopharmaceutical company specializing in precision medicine for the treatment of resistant and metastatic cancers points out that its total revenues reached 8.3 million euros, compared to 4 million in 2021.
Oncodesign recalls, however, that the “milestones” and “up-fronts” constitute the bulk of its turnover and “do not constitute the most relevant indicator for judging the value of the company”.
“OPM officially began its activity in September 2022 following the split with Oncodesign Biotechnology SA, to be listed on Euronext Growth in December by successfully completing its IPO through a fundraising of 8 million euros”, recalls CEO Philippe Genne. “This young company benefits from the experience and dynamics created in Oncodesign SA, which has become Oncodesign Services SAS, delisted since the end of December, with which it has a strategic agreement for carrying out its research work, which is very important. for the rest of his career and the success of his mission”.
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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.