ThromboGenics NV Rules Out Sale, CFO Calls It Quits
Published: Jun 24, 2014
ThromboGenics Provides Update on Strategic Review Process
* Company to Remain Independent
* CFO and Board Member Chris Buyse to Resign
LEUVEN, Belgium, June 24, 2014 (GLOBE NEWSWIRE) -- In response to market rumors, ThromboGenics NV (Euronext Brussels: THR) today issues an update on the Strategic Review process that was initiated in February 2014.
Following an assessment of various strategic options including a sale of the entire company, the Board of Directors of ThromboGenics has decided to continue as a stand-alone company, and to pursue discussions for a potential partnership for the commercialization of JETREA in the US. The Company will provide a further update at the time of its 2014 half year reporting on August 28.
Separately, Chris Buyse, Chief Financial Officer and Board Member of ThromboGenics, will resign effective June 30, 2014. Chris was appointed CFO of ThromboGenics following its 2006 IPO and has played an important role in building ThromboGenics.
As of July 1, Luc Philips, former CFO of KBC group and Board Member of ThromboGenics since its IPO, will take on the role of interim-CFO until the Company completes an international search for a new permanent CFO.
For further information please contact:
Global Head of Corporate Communications/ IR
+32 16 75 13 10 / +32 478 33 56 32
Citigate Dewe Rogerson
David Dible/ Sita Shah
Tel: +44 20 7638 9571
About JETREA ® (ocriplasmin)
JETREA® (ocriplasmin) is a truncated form of human plasmin. In the US, JETREA® is indicated for the treatment of symptomatic VMA. In Europe, JETREA® is indicated for the treatment of vitreomacular traction (VMT), including when associated with macular hole of diameter less than or equal to 400 microns.
JETREA® is a selective proteolytic enzyme that cleaves fibronectin, laminin and collagen, three major components of the vitreoretinal interface that play an important role in vitreomacular adhesion.
JETREA® has been evaluated in two multi-center, randomized, double-masked Phase III trials conducted in the U.S. and Europe involving 652 patients with vitreomacular adhesion. Both studies met the primary endpoint of resolution of VMA at day 28.
JETREA's Phase III program found that 26.5% of patients treated with ocriplasmin saw resolution of VMA, compared with 10.1% of patients receiving placebo (p<0.01). The Phase III program also showed that JETREA was generally well tolerated with most adverse events being transient and mild in severity.
ThromboGenics is an integrated biopharmaceutical company focused on developing and commercializing innovative ophthalmic and oncology medicines. The Company's lead product, JETREA® (ocriplasmin), has been approved by the US FDA for the treatment of symptomatic VMA and was launched in January 2013.
In Europe, JETREA® is approved for the treatment of vitreomacular traction (VMT), including when associated with macular hole of diameter less than or equal to 400 microns.
ThromboGenics signed a strategic partnership with Alcon, a division of Novartis, for the commercialization of JETREA® outside the United States. ThromboGenics and Alcon intend to share the costs equally of developing JETREA® for a number of new vitreoretinal indications.
ThromboGenics is also further exploring anti-PIGF (Placental Growth Factor), also referred to as TB-403, for the treatment of oncology indications.
ThromboGenics is headquartered in Leuven, Belgium, and has offices in Iselin, NJ (US) and Dublin, Ireland. The Company is listed on the NYSE Euronext Brussels exchange under the symbol THR. More information is available at www.thrombogenics.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 ThromboGenics in any jurisdiction. No securities of ThromboGenics 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.
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