(AOF) – Valerio Therapeutics has cash flow of 16.8 million euros as of June 30, 2023, “reinforced by a capital increase of 12 million euros” which ensures financial visibility “until the second quarter of 2024” . The former Onxeo, a specialist in drugs targeting tumor DNA damage response mechanisms and driver oncogenes, announces a half-year net loss of 11.64 million euros compared to 11.47 million a year ago, still without turnover.
“Valerio Therapeutics is well positioned to rapidly advance breakthrough therapeutic candidates through Phase 2 development and ultimately contribute to the treatment of cancer patients globally,” said Dr. Shefali Agarwal, President. Executive Director.
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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 venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, 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.