TOULOUSE, France & LAKELAND, Mich.--(BUSINESS WIRE)--Regulatory News:
ABIONYX Pharma (Paris:ABNX) (FR0012616852 - ABNX - PEA PME eligible), a new generation biotech company dedicated to the discovery and development of innovative therapies for patients, announces today that cash and cash equivalents totaled €8.8 million at September 30, 2019.
The activities of ABIONYX Pharma are focused on the discovery and development of innovative therapies to improve the lives of patients; the company did not generate any revenues in the first nine months of the year, as expected.
The recent evolution of governance, combined with the Company's financial resources, makes it possible to make progress in the formalization of a new strategy while having greater visibility. A strategic and detailed review of the assets of the company is underway, based on important proprietary clinical data in cardiovascular and metabolic diseases. Possible collaborations with external partners are under consideration, and the company is committed to communicating a new strategic development plan by the end of the first quarter of 2020.
About ABIONYX Pharma
ABIONYX Pharma is a new generation biotech company dedicated to the discovery and development of innovative therapies for patients. The biotech assets inherited from CERENIS Therapeutics constitute a rich portfolio of valuable programs for the treatment of cardiovascular diseases and associated metabolic diseases such as NAFLD and NASH as well as a HDL targeted drug delivery platform in immuno-oncology and chemotherapy, and in other non-oncological molecules.