Lyon, France – 18 January 2023 – 7.30am CET – 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 31 December 2022 and a change to its organizational structure.
A new step in company organization
To drive forward the next phases of its development for rare neurological diseases following last April's strategic move, Theranexus has announced a new step in its operational and strategic organization. The Board of Directors has appointed Mathieu Charvériat as CEO and Franck Mouthon as Executive Chairman.
For Theranexus Executive Chairman, Franck Mouthon "Mathieu and I co-founded Theranexus and since its inception we have jointly devised, designed and developed high value-added drug candidates for neurological diseases together with our teams. To meet our upcoming challenges, I am delighted about Mathieu's promotion to CEO. I am also very proud of this new opportunity to strengthen together Theranexus' operational and strategic capabilities".
Theranexus CEO, Mathieu Charvériat continues: "My sincerest thanks to Franck and the Board of Directors for the new responsibilities that I have been given. I am very happy and proud to continue working with Franck to successfully take the next steps in our new strategic plan with the launch of the pediatric pivotal Phase III trial of Batten-1 and our advanced therapy drug discovery platform".
Highlights of H2 2022: Strategic alliance with Inserm Transfert and new advances to the Batten-1 program
During the final quarter of 2022, Theranexus signed a strategic alliance with Inserm Transfert, the private value creation subsidiary of the French National Institute of Health and Medical Research (Inserm), for the identification of potential targets and advanced therapy drug candidates for treating rare neurological diseases. With this agreement, Theranexus will benefit from preferential early access to Inserm research for identifying and characterizing novel targets and RNA or antisense oligonucleotide candidates to treat patients with neurological diseases.
This flagship agreement is perfectly in line with the strategy to develop medicinal products for rare neurological diseases such as Batten-1, its candidate in phase I/II developed with BBDF, in Batten disease.
In early 2023, Theranexus and BBDF announced new advances to their Batten-1 program, in the Phase I/II clinical trial, with the demonstration of good user safety and tolerability and a pharmacokinetic profile in line with expectations. The two partners achieved an important milestone with these positive results which will enable them to prepare the protocol for the pivotal Phase III trial to launch the clinical trial involving a pediatric cohort during 2023.
On 31 December 2022, total available funds stood at €9.14 M compared with €11.00 M on 30 September 2022, in line with the company's forecasts and ensuring good financial visibility over the 2023 financial year.
Next financial publication
Tuesday 12 April 2023: 2022 annual financial results and update on cash position as on 31 March 2022
Theranexus is an innovative biopharmaceutical company that emerged from the French Alternative Energies and Atomic Energy Commission (CEA). It specializes in the treatment of central nervous system disorders and is a pioneer in the development of drug candidates targeting both neurons and glial cells.
The company has a unique platform for the identification and characterization of advanced therapy drug candidates targeting rare neurological disorders and an initial drug candidate in clinical development for Batten disease.
Theranexus is listed on the Euronext Growth market in Paris (FR0013286259- ALTHX).
|More information at http://www.theranexus.com |
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This press release contains certain forward-looking statements concerning Theranexus and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Theranexus considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the universal registration document of Theranexus filed with the AMF on 28 April 2021 under number D.21-0379 (a copy of which is available on www.theranexus.com) and to the development of economic conditions, financial markets and the markets in which Theranexus operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Theranexus or not currently considered material by Theranexus. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Theranexus to be materially different from such forward-looking statements. Theranexus expressly declines any obligation to update such forward-looking statements.