ABIONYX Pharma Announces Its Cash Position and Provides an Activity Update for the 3rd Quarter 2021

TOULOUSE, France & LAKELAND Mich.--(BUSINESS WIRE)--Regulatory News:

ABIONYX Pharma (FR0012616852 - ABNX - PEA PME eligible) (Paris:ABNX), a next-generation biotech company dedicated to the discovery and development of innovative therapies, announces today its gross cash position as of September 30, 2021 and reviews the highlights of the third quarter 2021.

Cash position

Cash and cash equivalents amounted to €3.2 million at September 30, 2021, compared to €4.8 million at June 30, 2021. This variation is explained by the production of its bioproduct CER-001 and continuing of R&D expenses, particularly in ophthalmology.

Highlights and outlook

Following the positive clinical results which led to the disappearance of visual blur related to corneal deposits in a patient suffering from LCAT deficiency, treated within the framework of a Temporary Use Authorization, and to clear improvement of the patient's visual functions, ABIONYX Pharma has communicated initial positive preclinical results that indicate the major therapeutic potential of bio-HDL in ophthalmology, and more broadly the role of lipids in ocular pathologies.

By obtaining an orphan drug designation for CER-001, which covers both a renal and an ophthalmological indication, ABIONYX Pharma believes that the development of bio-HDL in ophthalmology can be accelerated and is launching a strategic development of the first class of biomedicines in ophthalmology based on its bio-HDL.

In this context, ABIONYX Pharma has announced that it has initiated discussions with IRIS Pharma, one of the world leaders in preclinical and clinical research in ophthalmology under contract, with a view to a possible strategic deal, with IRIS Pharma's contract research activity intended to remain separate from the biotech activity and to continue to grow. Given the quality of the discussions, the company plans to communicate shortly on the terms of this deal.

About ABIONYX Pharma

ABIONYX Pharma is a new generation biotech company that aims to contribute to health through innovative therapies in indications where there is no effective or existing treatment, even the rarest ones. Thanks to its partners in research, medicine, biopharmaceuticals and shareholding, the company innovates on a daily basis to propose drugs for the treatment of renal and ophthalmological diseases, or new HDL vectors used for targeted drug delivery.