Oxurion NV to Focus Resources on Clinical Assets THR-687 and THR-149
Timeline Guidance for Both ProgramsConfirmed
Leuven, BE,Boston, MA, US –June 25, 2021 – 07.00 AM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard of care ophthalmic therapies, with a clinical stage portfolio in vascular retinal disorders, today announced a restructuring plan to better align resources towards executing its clinical development strategy, including advancing its two novel programs, THR-687 and THR-149. Following a detailed review of its operations and growth opportunities, Oxurion will no longer make direct investments in non-core activities, including research in dry AMD and oncology (Oncurious).
Tom Graney, CFA, Chief Executive Officer of Oxurion,comments:
“Today’s decisionmeans we are now focusing allour resources on progressing our two exciting clinical programs THR-687 and THR-149, which we believe could play a key role in improving clinical outcomes for patients with a number of important retinal vascular diseases such as DME, wet AMD and RVO which today represents a greater than $12 billion market opportunity.
This decision has been made to align our organization and resources with the Company’s strategic priorities so that we can maximize value creation in the most capital efficient way, whilst safeguarding our scientific and clinical leadership position in the global retina community.
The changes we have announced will not impact ourclinical development timelines which we have previously communicated. We are expecting to begin the Phase 2 development of THR-687 in DME in mid-2021 and are on-track to deliver the initial Part A data from the Phase 2 trial with THR-149 in DME later this year as planned.
Unfortunately,a number of Oxurion associatesare impacted by today’s changes and I can assure you that we are taking all the measures we can to assist them towards their next career opportunity. I would like to deeply thank those colleagues that are impacted for their contributions to Oxurion and in helping us make the important progress we have made to date.
Finally, I would like to take this opportunity to confirm our commitment to Belgium as our prime business location and home to the vast majority of our employees.”
The Company will further report on the outcome and impact of today’s decision as part of the Half Year Results Business & Financial Update of September 9, 2021.
For further information please contact:
Global Head of Investor Relations
& Corporate Communications
Tel: +32 16 75 13 10 / +32 478 33 56 32
David Dible/ Sylvie Berrebi/Frazer Hall
Tel: +44 20 7638 9571
Westwicke, an ICR Company
Tel: +1 617 835 9304
Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to better preserve vision in patients with retinal vascular disorders including diabetic macular edema (DME), the leading cause of vision loss in diabetic patients worldwide as well as other conditions, including wet age-related macular degeneration (AMD) and retinal vein occlusion (RVO).
Oxurion is aiming to build the leading global franchise in the treatment of retinal vascular disorders based on the successful development of its two novel therapeutics:
- THR-687 is a pan-RGD integrin antagonist that is initially being developed as a potential first line therapy for DME patients. Positive topline results in a Phase 1 clinical study assessing THR-687 as a treatment for DME were announced in 2020. THR-687 is expected to enter a Phase 2 clinical trial in patients with DME in mid-2021. THR-687 also has the potential to deliver improved treatment outcomes for patients with wet AMD and RVO.
- THR-149 is a plasma kallikrein inhibitor being developed as a potential new standard of care for the 40% of DME patients who respond sub optimally to anti-VEGF therapy. THR-149 has shown positive topline Phase 1 results for the treatment of DME. The company is currently conducting a Phase 2 clinical trial evaluating multiple injections of THR-149 in DME patients who previously responded sub optimally to anti-VEGF therapy.
Oxurion is headquartered in Leuven, Belgium, and is listed on the Euronext Brussels exchange under the symbol OXUR. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.