PARIS--(BUSINESS WIRE)--Regulatory News:
Lysogene (Paris:LYS) (FR0013233475 – LYS), a leading, Phase 3, biopharmaceutical company pioneering gene therapy technologies to treat central nervous system (CNS) diseases, today reports its cash position and revenues as of June 30, 2019.
As of June 30, 2019, cash and cash equivalents amounted to €33.2 million1, including the milestone payments made by Sarepta Therapeutics, Inc. to Lysogene under their global licensing and collaboration agreement entered into in October 2018.
This agreement generated revenues of €7 million1 in the first half of 2019, in accordance with the IFRS 15 "Revenue from Contracts with Customers" and the recognition of revenue on a percentage-of-completion basis through costs.
Lysogene is a gene therapy company focused on the treatment of orphan diseases of the central nervous system (CNS). The company has built a unique capability to enable a safe and effective delivery of gene therapies to the CNS to treat lysosomal diseases and other genetic disorders of the CNS. A pivotal clinical trial in MPS IIIA in partnership with Sarepta Therapeutics, Inc. is ongoing and a phase 1-2 clinical trial in GM1 Gangliosidosis is in preparation. In accordance with the agreements signed between Lysogene and Sarepta Therapeutics, Inc., Sarepta Therapeutics, Inc. will hold exclusive commercial rights to LYS-SAF302 in the United States and markets outside Europe; and Lysogene will maintain commercial exclusivity of LYS-SAF302 in Europe. Lysogene is also collaborating with an academic partner to define the development strategy for the treatment of Fragile X syndrome, a genetic disease related to autism. www.lysogene.com.
1 Unaudited and subject to approval by the board of directors