$89.7MWith Successful IPO, Providing Substantial Base to Support Developmentof Duchenne Muscular Dystrophy Portfolio LEIDEN, The Netherlands, 2013-08-28 13:00 CEST(GLOBE NEWSWIRE) -- Prosensa Holding N.V.(Nasdaq:RNA), the Dutch biopharmaceutical company focusing on RNA-modulating therapeutics for rare diseases with high unmet need, today reported financial results for the quarter ended June 30, 2013. "We had a transformative second quarter, culminating with our successful IPO at the end of June, raising $89.7M. On July 3, 2013, the date we received our IPO proceeds, our cash and cash equivalents amounted to €94.3 million ( $122.2 million), providing a substantial base to support the development of our portfolio especially our rapidly advancing Duchenne muscular dystrophy (DMD) product candidates. We were also very pleased with the results of the phase II DMD114117 double-blind, placebo-controlled study with drisapersen, which we exclusively licensed to GlaxoSmithKline (GSK). The study, which met its primary endpoint, was presented by GSK at the Cold Spring Harbor Conferencein April 2013," said Hans Schikan, CEO of Prosensa. Mr. Schikan continued, "We look forward to an incredibly busy and exciting remainder of the year, particularly as phase III data will become available for drisapersen. To date, more than 300 patients have participated in clinical studies with drisapersen at more than 50 trial sites in 25 countries. We believe that drisapersen, which was recently granted 'Breakthrough Therapy Designation' by the U.S. Food and Drug Administration, may potentially offer DMD patients with an amenable mutation an important, much-needed treatment option and we are dedicated to advancing the rest of our portfolio to help other sub-populations of boys with this devastating neuromuscular disease." Prosensa's current portfolio includes six compounds for the treatment of DMD, all of which have received orphan drug status in the United Statesand the European Union. The compounds utilize an innovative technique called exon-skipping to provide a personalized medicine approach to treat different populations of DMD patients. Recent Corporate Highlights -- Initial Public Offering Prosensa announced the pricing of its IPO at $13on June 27, 2013and the stock began trading the following day on the NASDAQ Global Marketunder the ticker symbol "RNA". The IPO of 6.9 million of the company's ordinary shares closed on July 3, and raised gross proceeds of $89.7 million. -- Continued Progress with Drisapersen Development-- On April 11, 2013GSK presented results for the DMD114117 (DEMAND II) clinical trial. The primary endpoint in this double-blind, placebo-controlled, exploratory study was met and a statistically and clinically meaningful difference of 35 meters in the six-minute walk test between the continuous dosing regimen of 6mg/kg per week and placebo was achieved at 24 weeks. On July 31, 2013, summary results from this study were posted on GSK's Clinical Study Register.