Onxeo Reports Half-Year 2018 Financial Results and Provides Business Outlook
Clinical development of Onxeo’s lead product candidate AsiDNA™ progressing to plan
- Preliminary safety and activity results of DRIIV-1 study are expected in Q4 2018
- Two combination clinical trials with AsiDNA™ planned for early 2019
New optimized candidate from platON™ proprietary platform ready to enter preclinical stage by end 2018
Cash position of €11m at June 30, 2018 enables an expanded clinical development plan of AsiDNA™ into 2020
Paris, July 27, 2018 – 6:00 pm CEST - Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO FR0010095596), a clinical-stage biotechnology company specializing in the development of innovative drugs in oncology, in particular against rare or resistant cancers, today reported its consolidated half-year financial results, as of June 30, 2018 and provided a business update.
Judith Greciet, Chief Executive Officer of Onxeo, said: “The first half of 2018 was marked by an important step in the development of our lead product candidate AsiDNA™ as it entered a phase I clinical trial
DRIIV-1 in patients with advanced solid tumors. We expect preliminary data in Q4 2018 which will confirm both the safety and systemic activity of this first-in-class DNA repair inhibitor. In parallel, we have conducted substantial preclinical work with AsiDNA™ in combination with other anticancer agents to assess its full potential. In that context, we have already obtained very compelling data regarding the synergistic effects and reversion of tumor resistance by AsiDNA™ when combined with a PARP inhibitor. Additional results on the interest of combining AsiDNA™ with belinostat have also been acquired and other experiments are ongoing to show the value of combining AsiDNA™ with carboplatin, a standard-of-care in chemotherapy. Together with the expected outcomes from the DRIIV-1 clinical study, this solid body of preclinical data opens a range of new clinical development opportunities to harvest the full potential of AsiDNA™ and we have planned already to broaden its development in combination as soon as 2019.
Furthermore, the extensive screening and optimization work on new molecules sourced from our PlatON™ platform is bearing fruit and we expect to advance the next optimized candidate into preclinical development by the end of the year, thereby enlarging Onxeo’s pipeline.
At this time and considering our available preclinical data, it appears that AsiDNA™ in combination with PARPi and/or carboplatin is the most promising option while belinostat could be best combined with a new candidate sourced from platON™, due to the respective pharmacokinetic properties of these assets.
During this half-year, we also strengthened our cash position with an equity line and the monetization of Beleodaq® royalties, to support the momentum of our development programs with this highly attractive technology in DNA targeting.”
 Half-year financial statements have been the subject of a limited review. The limited review report will be issued after the procedures required for the publication of the half-yearly financial report have been finalized.