Onxeo Reports First-Half 2017 Results and Business Update
Sound cash position of €27.7m as at June 30, 2017 and cash runway till Q1 2019
Development of the core assets on track with multiple short-term milestones
- Livatag® Phase III results expected before the end of September 2017
- Preclinical results of Beleodaq® in other indications / combinations expected by the end of September 2017
- AsiDNA™ (systemic administration) Phase I trial submission planned by the end of 2017
Paris, July 28, 2017 – 7:00 pm CEST. 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 reported its consolidated half-year financials to June 30, 2017, and provided an update on the key achievements over the first six months of the year as well as its recent developments.
“The first half of 2017 was marked by a strong momentum in all areas of Onxeo’s activity. First of all, we completed, on schedule, the enrollment for our ReLive trial in the treatment of primary liver cancer with Livatag®, our most-advanced drug candidate. The DSMB of ReLive delivered its 10th unanimous positive recommendation to continue the trial, thus confirming the compound’s acceptable tolerance profile, and we’re now expecting the preliminary efficacy results before the end of September. Over the half year, we continued the exploratory preclinical program with Beleodaq® in other indications or combinations, with first results expected at the end of the third quarter of 2017. Our most significant scientific achievement so far this year was the preclinical proof of concept of AsiDNA™ activity via intravenous administration, thereby considerably expanding its potential. These robust preclinical data provide a solid foundation from which to advance this first-in-class DNA repair inhibitor towards clinical development. Last but not least, from a financial perspective, we successfully completed a €15m private placement with prominent US and European investors who showed a keen interest in supporting the ramp-up in our strategic programs.” said Judith Greciet, CEO of Onxeo.