TxCell (FR0010127662 – TXCL), a biotechnology company developing innovative, economically viable, personalized T cell immunotherapies using antigen specific regulatory T-cells (Ag-Tregs) for severe chronic inflammatory and autoimmune diseases, today reports its revenues(1) as of September 30, 2014.
In the first nine months of the year 2014, the company generated revenues of EUR 245 thousand, including EUR 83 thousand for the third quarter of 2014, compared with no reported revenues during the same period in 2013. This amount corresponds to income relating to the amortization of the payment of EUR 1 million from Ferring International Center for the exclusive option agreement signed on December 12, 2013 for Ovasave(R) in inflammatory bowel diseases (IBD), notably Crohn’s disease.
Cash and cash equivalents:
Cash and cash equivalents stood at EUR 14.9 million at September 30, 2014, compared with EUR 17.4 million at June 30, 2014 after TxCell’s Initial Public Offering, and EUR 0.7 million at December 31, 2013. This amount includes the payment of EUR 0.4 million for employer contributions on stock-option subscriptions granted during the first half of 2014.
Highlights of the period:
Launch and grant award of EUR 417 thousand for the collaborative project POSITVE (including EUR 250 thousand for TxCell). This project focuses on the development and implementation of procedures to automate the first step of Ovasave manufacturing process.
Grant of five new patents for TxCell’s core technology and ASTrIA platform since January 2014. Latest US patent, granted in August 2014, is key to TxCell’s innovative personalized T cell immunotherapy business model, for determining responder from non-responder patients after a first administration of the product.
“TxCell continued in the third quarter of 2014 to move forward its innovative programs in line with plans while maintaining a tight control on expenditure. The recent announcement of positive data for its second product candidate Col-Treg obtained in a model of autoimmune uveitis (see release of October 28, 2014) highlights how TxCell will continue to build value from its personalized T cell immunotherapy platform ASTrIA, for chronic inflammatory and autoimmune diseases” said Damian Marron, Chief Executive Officer, TxCell.
- ARM Advanced Therapies Investor Day, November 13, 2014
- Actionaria, Paris (France), November 21-22, 2014
- Oddo Forum, Lyon (France), January 8-9, 2015
- Fourth quarter 2014 revenues on Wednesday February 4, 2015 (after market close)
TxCell is developing innovative, economically viable personalized T cell immunotherapies for the treatment of severe chronic inflammatory diseases with high medical need using its unique and proprietary ASTrIA technology platform based on the properties of autologous antigen specific regulatory T lymphocytes (Ag-Tregs). The company has completed a phase I/IIa study of its lead product candidate, Ovasave(R) in refractory Crohn’s disease patients and has reported good tolerability and positive clinical efficacy. The company plans to initiate a phase IIb study in the same patient population. Listed on Euronext-Paris, TxCell, a spin-off of Inserm (France’s National Institute for Health and Medical Research) is located in the Sophia Antipolis technology park, Nice, France. The company has 49 employees based at its headquarters and at its manufacturing site in Besançon.
For more information, please visit www.txcell.com.
Forward Looking Statements. This press release contains forward-looking statements with notably respect to the strategy and outlook of TxCell. Although TxCell believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance of the company. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to the risks described in the documents TxCell filed with the Autorité des Marchés Financiers (French securities regulator). Investors and security holders may obtain a free copy of documents filed by TxCell with the Autorité des Marchés Financiers at www.amf-france.org, or directly from TxCell. Forward-looking statements contained herein are made as of the date of this press release.
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