Onxeo publishes Letter to Shareholders and provides update on its developments

Paris (France), February 2, 2021 – 9 pm CET – Onxeo S.A. (Euronext Growth: ALONX; Nasdaq First North: ONXEO), a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage Response (DDR), in particular against rare or resistant cancers, today provides a business update at the occasion of the publication of its Letter to Shareholders available on this link.

“Despite the pandemic context, Onxeo has made significant progress in 2020 on several levels and expects a year 2021 rich in clinical catalysts.

From a clinical perspective, we have initiated the phase 1b/2 study, REVOCAN, which aims to evaluate our lead candidate AsiDNA™ in combination with PARPi niraparib in relapsed ovarian cancer. This study, which will include up to 26 patients, is being conducted under the clinical research agreement with Gustave Roussy, the study sponsor, and began in the fourth quarter of 2020. Interim results will be provided in the course of the year, as they are made available by Gustave Roussy.

As for the DRIIV-1b study combining AsiDNA™ to the chemotherapy, favorable interim results were published last November and we expect the study to be quickly completed. The efficacy signals observed allow us to work already on a phase 2 study of AsiDNA™ in the same combination in a specific indication with high unmet needs. We expect to submit this study to the regulatory authorities in the coming months, for an effective start this year.

Finally, our second candidate, OX401 will continue its regulatory preclinical validation this year, and we are aiming to enter the clinical phase in 2022.

The Company has also significantly improved its financial structure over the last 12 months, with several major transactions, including the recent approval of a €5 million state guaranteed loan which extends our financial visibility to the third quarter of 2022 and gives us the serenity we need to face 2021 and the uncertainties related in particular to the pandemic. Today, Onxeo has an ambitious and extensive R&D and clinical program, as well as the support of specialized investors such as Invus, and thus has the assets needed to achieve our goals," said Judith Greciet, Chief Executive Officer of Onxeo.

To find out more about Onxeo's developments and prospects, we invite you to read Onxeo's Letter to Shareholders on our website.