News Column

ONCODESIGN: 1st Half of 2014

July 22, 2014

  • +8% increase in revenue, including +16% in Experimentation division
  • Cash burn limited to €1.5m
  • Buoyant momentum in the United States (new orders x3.5)
  • Acceleration in kinase inhibitor discovery programs

    DIJON, France--(BUSINESS WIRE)-- ONCODESIGN, a biotechnology company serving the pharmaceutical industry in the discovery of new therapeutic molecules to fight cancer and other serious illnesses with no known efficient treatment, today announces its revenue and cash position for the 1st half of 2014.

    Experimentation of cancer therapies:

    Substantial revenue growth and buoyant momentum in the United States

    At end-June 2014, Experimentation revenue was up 16%, totaling €2.58m over the 1st half of 2014 versus €2.23m over the same period of 2013.

    Oncodesign has thus fully benefited from its unique technological platform, which has enabled it to win new contracts in France, but also in Germany, the Netherlands, the United Kingdom, Japan and the United States. In the latter country, new orders were notably multiplied by 3.5.

    Over the first six months of 2014, the portion of Experimentation revenue recorded outside France was 79%.

    Discovery of new kinase inhibitors

    Acceleration in in-house discovery programs thanks to the IPO

    Over the 1st half of 2014, revenue from research collaboration, notably with IPSEN, Sanofi and UCB, totaled €0.53m, compared with €0.63m a year earlier. These figures correspond to the reimbursement of R&D costs paid by Oncodesign on discovery projects developed within partnerships.

    Oncodesign’s in-house TGFbR2, SIK2 and RIP2 kinases discovery programs were accelerated in accordance with the objectives of the IPO carried out in March 2014.

    These R&D efforts will be continued and stepped up over the 2nd half of 2014 in order to accelerate the selection of new drug candidates on these targets of interest in oncology and inflammatory diseases.

    Net cash position of €10.8m, cash burn limited to €1.5m over the half year

    At June 30, 2014, Oncodesign had a net cash position of €10.8m taking into account the success of the €12.2m capital increase carried out in March 2014 during the Company’s IPO on the Alternext Paris.

    Net cash burn, excluding the costs associated with the IPO, totaled €1.5m over the 1st half of 2014. This limited figure is notably the result of Oncodesign’s balanced and resilient business model, which combines state-of-the-art R&D activities and repeat revenue from its experimentation services activities.

    This first half of 2014 marked a major milestone in Oncodesign’s development. As well as our achievements in our business activities, our IPO enabled us to obtain the necessary financial means to successfully execute our business plan and continue our permanent innovation approach aimed at helping as many patients as possible. We are notably striving to support the acceleration of our discovery programs in the promising field of kinase inhibitors and to strengthen the commercial deployment of our experimentation activities in Europe, and around the world”, concludes Philippe Genne, CEO and founder of Oncodesign.




    OncoDesign

    Philippe Genne

    CEO

    investisseurs@oncodesign.com

    NewCap.

    Julien Perez, +33-(0)1-44-71-98-52

    oncodesign@newcap.fr


    Source: ONCODESIGN


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    Source: Business Wire


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