Full-year 2016 Results and Outlook for 2017
Reinforcement of Onxeo’s strategic positioning in the development of innovative oncology treatments
- Acquisition of DNA Therapeutics and the AsiDNATM product, a first-in-class candidate in the new area of preventing tumor cells from repairing their DNA
- Enrolment for the phase III Livatag® study in advanced primary liver cancer completed on schedule to deliver preliminary results mid-2017
- Cash and cash equivalents of €29.2 million at December 31, 2016, providing financial visibility through to 2018
Paris, March 7, 2017 – 6:30 pm CET. Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), a clinical-stage biotechnology company specializing in the development of innovative drugs for the treatment of orphan diseases, in particular in oncology, today released its consolidated results for 2016 and its outlook for 2017.
“2016 was a landmark year for Onxeo in several ways. From a clinical standpoint, we continued enrolment for our ReLive trial in the treatment of primary liver cancer with Livatag®, our first drug candidate. This has now been completed on schedule to meet our target of announcing the results of this major study during summer 2017. With Beleodaq® already approved for use in the United States as a second line therapy for peripheral T-Cell lymphoma (PTCL), we continued our efforts to extend its use to other indications and commenced work on developing an oral formulation. From a strategic standpoint, the highlight of the year was the acquisition of the DBait technology and its lead compound AsiDNATM that establishes Onxeo as a pioneer in the high-potential therapeutic area of inhibiting the repair of tumor cells’ DNA. To support the ramp-up in our strategic programs, we have enhanced the performance of our preclinical and clinical operations. All these developments were achieved without compromising on our rigorous cost control, which has ensured that we have the required financial resources to support our future growth,” commented Judith Greciet, Chief Executive Officer of Onxeo.