Lyon, 19 October 2021 – Theranexus, a biopharmaceutical company innovating in the treatment of neurological diseases and pioneer in the development of drug candidates modulating the interaction between neurons and glial cells, today announces its cash position as at 30 September 2021.
Total available funds on 30 September 2021 stood at €12.5 M, compared with €13.5 M on 30 June 2021. The Company's cash position is relatively stable and provides financial visibility for the next 18 months in accordance with its set targets. During the second half of 2021, the Company should also benefit from the 2020 Research Tax Credit (CIR) for a sum of €1.0 M, and from Bpifrance funding for an amount of €1.0 M in connection with the Neurolead project.
Thierry Lambert, Chief Financial Officer of Theranexus, made the following comment: "The Company's cash position of €12.5 M on 30 September 2021 illustrates controlled cash consumption and is consistent with our objective to maintain financial visibility for at least the next 18 months."
Theranexus appoints Marie Sebille as Chief Medical Officer
The Company has appointed Marie Sebille, MD, PhD, as Chief Medical Officer to run Theranexus' main clinical programs of development. Doctor Werner Rein will continue to support the Company as senior consultant in its overall clinical development strategy.
Marie is an MD by training and holds a PhD in neurosciences. She has almost 30 years of experience in the pharmaceutical industry, where she has worked in various positions as a physician in Global Medical and Global Clinical Development. She contributed to the development of multiple drugs in neurology and psychiatry, then she held several executive positions managing Clinical Operations in Sanofi R&D. During her tenure, Marie's organization supported all major registration files in Rare Diseases, Oncology, I&I and Diabetes & Metabolism, as well as Life Cycle Management programs.
Franck Mouthon, Chairman, CEO and co-founder of Theranexus, made the following comments: "We are delighted to welcome Marie to support us in the pursuit of our clinical programs. Her expertise in the development of drugs for neurology and rare diseases is a key asset for Theranexus. We would also like to thank Werner for his contribution to the development of Theranexus' pipeline and we are glad to continue benefiting from his strategic vision."
Progress on the main clinical programs
Drug candidate THN 102 – Excessive daytime sleepiness (EDS) in Parkinson's disease
THN102 is the first potential treatment for excessive daytime sleepiness (EDS) in patients with Parkinson's disease. Discussions with several potential industrial partners are still continuing. The teams remain fully committed and dedicated to ensuring industrial development of the drug candidate THN 102 through an industrial partnership governing the usage format, geographical areas concerned and clinical development pathway.
Drug candidate BBDF 101 for Batten disease, a rare orphan pediatric disorder of the nervous system
In early September 20211, Theranexus announced receipt of Investigational New Drug (IND) approval from the Food and Drug Administration (FDA) to launch a Phase I/II clinical trial of their drug candidate BBDF 101 for juvenile Batten disease, a rare and fatal disorder.
The clinical program will start by the end of 2021 with Phase I/II. Phase III will start after consulting with the FDA in the second half of 2022, once the pharmacokinetic and tolerance results have been established during the first 4.5 months of Phase I/II treatment.
|ABOUT THERANEXUS |
Theranexus is a clinical-stage biopharmaceutical company that emerged from the French Alternative Energies and Atomic Energy Commission (CEA) in 2013. It develops drug candidates for the treatment of nervous system diseases.
Thanks to its knowledge of neuron and glial cell interactions, THERANEXUS is a pioneer in the design and combination of approved substances and has a solid and diversified portfolio of drug candidates in clinical-phase testing. The company's combined drug repurposing strategy based on a solid commercial footing and a capability to rapidly demonstrate its clinical worth, enables it to produce different high-value-added proprietary drug candidates, significantly reduce development time and costs, and considerably increase the chance of its drugs reaching the market.
Accordingly, THERANEXUS is well-positioned in several indications, including for Parkinson's and Batten disease, for which there is currently no treatment available.
Theranexus is listed on the Euronext Growth market in Paris (FR0013286259- ALTHX).
More information at: www.theranexus.com
More information on: http://www.theranexus.com
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1 See press release of 9 September 2021 (Theranexus and the Beyond Batten Disease Foundation (BBDF) win American Investigational New Drug (IND) approval to start clinical development of BBDF 101)