Onxeo Reports Third Quarter Financial Information and Provides Business Update
- AsiDNA™ clinical development progressing to plan
- First safety and activity results of the phase I DRIIV-1 study expected in Q4 2018
- Phase Ib/IIa combination studies of AsiDNA™ to be initiated as early as H1 2019
- New first-in-class compound from PlatON™, expected before end 2018, will enter preclinical testing in 2019
- Cash position of €13 million at September 30, 2018, supports the Company’s development in the attractive field of DNA Damage Response into 2020
Paris, October 25, 2018 – 6:30 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 targeting tumor DNA Damage Response (DDR) to fight resistant cancers, today reported its consolidated revenues and cash position at September 30, 2018, and provided a business update.
Judith Greciet, Chief Executive Officer of Onxeo, said: “The development of AsiDNA™, our strongly differentiated lead product in the compelling field of DNA Damage Response (DDR), has considerably accelerated in the third quarter of 2018, especially on the clinical side with the DRIIV -1 study running at full speed. Given the favorable recruitment pace, we are on track to publish the preliminary activity results before the end of this year. These activity data will be of paramount importance as they should confirm that AsiDNA™ enters tumoral cells and engages with its biological targets. This demonstration that AsiDNA™ is active in man via intravenous administration will represent a significant catalyst in the value of this product. This will open the way to the initiation of phase Ib/IIa combination studies to confirm the interest of combining AsiDNA™ with PARP inhibitors or other tumor-DNA damaging agent, and Onxeo plans to start a first combination study as soon as H1 2019. The optimization of new leads from PlatON™ is also moving forward. We maintain our objective to announce a new drug candidate, with different targets from those of AsiDNA™, by the end of 2018 in order to proceed with preclinical tests in 2019. ”