ABIONYX Pharma Provides an Update on Its Business and Cash Position for the First Quarter of 2022

• Focus of the Services activityon the Biotech's preclinical studies in ophthalmology
• Determination of the strategic axes of clinical development in ophthalmology
• Cash position of €5.9 million as of March 31, 2022

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

ABIONYX Pharma (FR0012616852 - ABNX - PEA PME eligible), a new generation biotech company dedicated to the discovery and development of innovative therapies for patients, today provides an update on its business and cash and cash equivalents as of March 31, 2022.

ABIONYX Pharma recorded a consolidated quarterly revenue of €1.2 million after removal of intra-group transactions. IRIS Pharma recorded a quarterly revenue of €1.6 million. Regarding the activity dedicated to the discovery and development of innovative therapies aimed at improving the lives of patients, the Company did not generate any revenue during this quarter. The consolidated revenue reflects that, since the integration of IRIS Pharma, the Biotech has decided to focus the efforts of the Services activity on the preclinical studies of the bio-HDL in ophthalmology, in order to determine the strategic axes of development to enter the clinical phase as soon as possible. The Company will soon communicate its strategy in ophthalmology.

In the renal franchise, the Phase 2a clinical trial for CER-001, known as RACERS, is continuing in sepsis at high risk of developing acute kidney injury, in partnership with the University of Bari. In April, ABIONYX Pharma announced positive interim results from this clinical trial demonstrating rapid reversal of the cytokine storm in septic patients and rapid improvement in biomarkers of inflammation, including leukocytosis, compared to standard therapy. Final results of the study are expected to be available in the fall of 2022.

In addition, the Company continues to receive new Compassionate Access Authorization (CAA) requests for the bio-HDL (CER-001) from several hospitals around the world.

The Company recalls that beyond a cash position of nearly €6 million and the total financing of Phase 2a by CBVF, an Italian consortium, no dilutive financial instruments have been put in place.

Next financial press release: Cash position and activity update for Q2 2022, August 18, 2022

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.