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Hybrigenics announces 2007 full year results
Paris, 30 April 2008 - Hybrigenics,
a bio-pharmaceutical company with a focus on research and development of new
cancer treatments and specialised in protein interactions, today announces its
results for the full year ended 31 December 2007.
Full Year 2007 Results Millions Euros 2007 2006 Sales 2.9 2.8 O/w Hybrigenics Pharma 0.45 0.34 O/w Hybrigenics Services 2.45 2.46 Other operating revenues 0.5 1.0 Total operating revenues 3.4 3.8 Operating costs 9.6 7.7 O/w other purchases & external charges 4.5 3.3 Operating loss -6.3 -3.9 Net loss -5.5 -3.5 As announced on 18 March 2008, sales generated by scientific services, combining both Hybrigenics Pharma and Hybrigenics Services activities, amounted to 2.9 million euros in 2007, up 3.4% compared with 2006. During 2007, the company strongly increased export sales, which now represent 54% of Hybrigenics Services' sales, compared with 43% in 2006. Other operating revenues for the year ended 31 December 2007 amounted to 0.5 million euros, compared with 1 million euros in the year ended 31 December 2006. This decrease is due to lower 2007 revenues from sub-leasing of some offices and laboratories within the facilities managed by Hybrigenics. The higher operating costs in the year ended 31 December 2007 result from the increase in spending for outsourced regulatory toxicology studies, and for phase I (completed in August 2007) and phase II (started in November 2007) clinical trials for the therapeutic indication of hormone-refractory prostate cancer. The amount was in line with company's plan. Consequently, the company reports operating and net losses of 6.3 and 5.5 million euros, respectively. Net cash on 31 December 2007 stood at 7.9 million euros. Inecalcitol clinical development programme ahead of schedule à Inecalcitol: patients on 160 micrograms per day oral dosage As clinical results on three cohorts of patients at 40 micrograms and 80 micrograms per day for 18 weeks showed excellent tolerance, two subsequent patient cohorts at the 160 micrograms dosage were enrolled in April, two months ahead of schedule. A total of 16 patients have now been included by Hybrigenics since the start of this Phase II study. Inecalcitol, a vitamin D analogue more powerful and less toxic than calcitriol, is being developed for hormone-refractory prostate cancer in combination with Taxotere ® (Sanofi-Aventis), the reference chemotherapy for this indication. Hybrigenics Services books screening contracts for inhibitors of protein interactions CellVir, a biotechnology company specialised in research and development of antiviral drugs with innovative mechanisms of action, especially against HIV, has commissioned Hybrigenics to develop assays and to screen small molecules to inhibit interactions between viral proteins and human host proteins. About Hybrigenics Hybrigenics is a bio-pharmaceutical company focusing its internal R&D programmes on innovative targets and therapies for the treatment of cancer. Hybrigenics' development programme is based on inecalcitol, a vitamin D analogue more powerful and less toxic than calcitriol, the naturally active form of vitamin D. Inecalcitol is being developed for the treatment of hormone-resistant prostate cancer in combination with Sanofi-Aventis' Taxotere®, which is the current gold-standard chemotherapeutic treatment for this indication. Hybrigenics' research programme explores the role of enzymes known as ubiquitin-specific proteases (USP) in the degradation of onco-proteins, and the effectiveness of proprietary USP inhibitors in treating various types of cancer. Hybrigenics also offers a range of services to identify, validate and inhibit protein interactions to researchers in all areas of life sciences through its Hybrigenics Services unit, using its ISO 9001-certified high-throughput Yeast-Two Hybrid (Y2H) screening platform, its sophisticated bioinformatics tools and extensive database, along with its chemical library and chemical screening platform. Hybrigenics Eric Cohen CFO Tel: +33 (0)1 58 10 38 00 investors@hybrigenics.com NewCap. Financial communication Axelle Vuillermet / Pierre Laurent Tel: +33 (0)1 44 71 94 94 hybrigenics@newcap.fr For further information, please contact: Andrew Lloyd & Associates Andrew Lloyd / Neil Hunter Tel: +44 1273 675100 allo@ala.com / neil@ala.com |
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