MUNICH--(BUSINESS WIRE)--SIRION Biotech GmbH (“SIRION”), a world leader in viral vector-based gene delivery technologies for gene and cell therapy, today announced financial results for the first half of 2020. Revenues for SIRION’s vector design and manufacturing service for the first half of 2020 were €3.1 (US$3.5M) resulting in 26% percent increase over the same period in 2019. Previous year figures have been adjusted for a market approval milestone by one of its licensees. The Company projects revenue of approximately €11.0M for 2020 which would exceed last year’s revenue record.
Gene and cell therapy are among the hottest topics in modern drug development today, and SIRION’s viral vector technologies make breakthrough advances in these areas possible. Viral vectors are also the one critical gene editing tool enabling breakthrough treatments for previously incurable diseases. Critical to the success of this development is the need to improve patient safety by reducing dosages and increasing affordability by reducing production costs. SIRION’s core competence in improving vector design and production protocols is based on thousands of development projects on behalf of drug developers worldwide. SIRION is dedicated to the success of its drug development partners through the expansion of additional offices in both Massachusetts and Paris in the past two years. Earlier this month SIRION further expanded into a fifth site near the Heidelberg University campus in Germany to increase and improve production specifically for most sophisticated AAV technologies.
SIRION’s business model includes both service revenue and licensing fees. SIRION provides high-grade viral vector materials for preclinical use, offering up to 1015 GMP-ready AAV vector genomes and 1010 infectious units of Lentivirus, currently paving the way for toxicology studies. Licensing fees are rising as SIRION’s technology is now being used in more than 15 clinical trials worldwide.
“SIRION’s strategic priority is to reduce necessary patient dosages in gene therapy development through sophisticated vector design and efficient production protocols,” said Dieter Lingelbach, Chief Business Officer of SIRION. “Opening a site in Heidelberg demonstrates our dedication to improving AAV development.” Mr. Lingelbach continued, “We expect to surpass our 2019 record year of growth despite the impact of the COVID-19 pandemic this year.”
About SIRION Biotech GmbH
SIRION Biotech was founded in 2005 to lead the next generation of viral vector technologies for gene and cell therapy as well as vaccine development. Now SIRION offers one of the world’s most comprehensive viral vector technology platforms based on lenti-, adeno-, and adeno-associated viruses which expedites gene therapy research and advances drug development. SIRION is becoming a partner of choice in this growing sector. LentiBOOST™ has been used in several clinical trials from early stage clinical Phase 1/2 through late stage clinical Phase 3 trials and demonstrated clinical success in improving transduction of the therapeutic vector.