LYON, France--(BUSINESS WIRE)--Regulatory News:
ERYTECH Pharma (Paris:ERYP) (ADR:EYRYY) (Euronext Paris: ERYP), the clinical-stage biopharmaceutical company developing innovative therapies for rare forms of cancer and orphan diseases based on its proprietary ERYCAPS platform, encapsulating therapeutic drug substances inside red blood cells, today provided a business update and reported its financial results for the year ended December 31, 2016.
“In 2016, we made important progress moving our pipeline forward despite our decision to withdraw and resubmit our European Marketing Authorization Application for GRASPA. We are committed to bringing GRASPA to the market and continue to make significant strides in pursuing its first regulatory approval,” said Gil Beyen, Chairman and CEO of ERYTECH. “Our team is working diligently to provide the requested additional data to the CHMP and we plan to resubmit our MAA this summer. In addition, we presented important new findings related to the mechanism of action of GRASPA, as well as new preclinical data further supporting the anti-tumor activity of our new product candidate erymethionase (ERY-MET) in preclinical models. Looking ahead to 2017 we expect to reach several important milestones, most notably the results of our Phase 2 studies in pancreatic cancer and AML, the resubmission of the MAA for ALL, and the initiation of new trials. We strengthened our balance sheet with a successful private placement in the fourth quarter of 2016 and have the capacity to execute on our key strategic objectives for 2017. We strongly believe 2017 will be another transformative year in support of our mission of advancing novel anti-cancer therapies using our ERYCAPS technology for the benefit of patients in need.”
