PARIS & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Regulatory News:
Lysogene (Paris:LYS) (FR0013233475 – LYS), a leading clinical-stage biopharmaceutical company specializing in gene therapy technology applied to central nervous system diseases, today reports its cash position for the first quarter of 2017.
Cash position and revenues as of March 31, 2017
As of March 31st, 2017, the cash amounted to €27.0 million1, compared to €6.4 million in December 31st, 2016, following the listing of the Company on Euronext Paris in February 2017 where it raised about €22.6 million.
As expected, Lysogene did not generate revenues during the first quarter 2017.
Key operational highlights since January 1, 2017
- February 10, 2017: an important milestone in the development of Lysogene with its successful initial public offering on Euronext Paris, raising nearly €22.6 million from historical shareholders such as Sofinnova Partners, BpiFrance Investissement (InnoBio) and Novo A/S as well as new partners such as Financière Arbevel and Alto Invest.
- February 21, 2017: Successful key regulatory milestone achieved for Lysogene’s second product candidate, LYS-GM101 for treating GM1 gangliosidosis. The European Medicines Agency (EMA) has granted orphan drug designation to LYS-GM101. The U.S. Food and Drug Administration also granted an orphan drug designation and a rare pediatric disease designation to LYS-GM101 earlier this year.
- March 28, 2017: Lysogene announced baseline data from first International Pivotal Observational Study in MPS IIIA (SAMOS). SAMOS has been designed to evaluate the clinical progression in untreated MPS IIIA patients. As agreed with the regulatory authorities, this study is to function as a non-concurrent control for the upcoming Lysogene phase II/III pivotal gene therapy trial.
As announced during its public initial offering, Lysogene is fully committed to pursue the development of two drugs in gene therapy to treat two polysdisabling, devastating and deadly pediatric diseases of the central nervous system.
Next financial milestones:
- Ordinary shareholders’ meeting on June 22, 2017
- Second quarter 2017 revenue and cash position on July 12, 2017 (after market close)
Lysogene is a leading, clinical stage biotechnology company, specializing in the basic research and clinical development of AAV gene therapy for CNS disorders with a high unmet medical need. Since 2009, Lysogene has established a solid platform and network, with lead products in Mucopolysaccharidosis Type IIIA and GM1 Gangliosidosis, to become a global leader in orphan CNS diseases. Lysogene has also obtained ODD by the EMA and FDA and rare pediatric designation by the FDA for both its two candidates products LYS-SAF302 and LYS-GM101.
Lysogene is listed on the Euronext regulated market in Paris (ISIN code: FR0013233475)
For more information, please visit www.lysogene.com.
1 Unaudited and not subject to approval by the board of directors