Paris, 03 August 2010 – Hybrigenics (ALHYG), a bio-pharmaceutical company listed on Alternext (NYSE-Euronext) in Paris, with a focus on research and development of new cancer treatments and specialized in protein interactions, today announces its revenue and cash position for the first half of 2010.
EUR (thousands) H1 2010 H1 2009 Change % Hybrigenics Services SAS Revenue 1,710 1,645 +4.0% Other Revenues (incl. Pharma) 370 795 -53.5% Hybrigenics SA total revenue 2,080 2,440 -14.8% Net cash position 2,995 1,770 +69.2%
The first half-year revenue from Hybrigenics Services SAS has increased by 4 percent to EUR 1.71 million. Due to the slowdown of the pharma research activities for Servier, which peaked in value in the first half of 2009, Hybrigenics’ other revenue has decreased from EUR 0.8 million in H1 2009 to EUR 0.37 million in H1 2010. Hybrigenics’ pharma research is now totally focussed on its own drug discovery program to generate proprietary results. As a consequence, Hybrigenics SA total revenue has decreased by 15 percent to EUR 2.08 million.
The Hybrigenics Services SAS subsidiary has recently been established to integrate all Yeast Two-Hybrid (Y2H) and related activities in one dedicated entity. Its mission is to serve this highly specialized segment of the fee-for-service proteomics market in an optimal way, and thereby boost future revenues.
Hybrigenics’ net cash position on 30 June 2010 amounted to EUR 3 million as compared to EUR 3.6 million on 31 December 2009. During H1 2010 a total of EUR 0.75 million has been drawn from the equity line agreement with the American fund Yorkville Global Advisors; EUR 4.17 million are still available on this line.
“During this first half of 2010, a major milestone in the development program of inecalcitol has been reached with the determination of the maximal tolerated dose of 4 milligram per day in hormone-refractory prostate cancer patients. The current clinical Phase IIa study will now be completed in the next few months,” said Remi Delansorne, Hybrigenics SA’s CEO. “The intellectual property protecting inecalcitol has been reinforced and prolonged by two patent applications. We also received a positive official scientific advice from the European Medicines Agency earlier this year. All these important achievements were obtained with minimal cash expenditure,” added Remi Delansorne.
About Hybrigenics Hybrigenics SA (http://www.hybrigenics.com) is a bio-pharmaceutical company listed (ALHYG) on Alternext (NYSE-Euronext) in Paris, focusing its internal R&D programs on innovative targets and therapies for the treatment of cancer. Hybrigenics’ development program is based on inecalcitol, a vitamin D analogue, for the treatment of hormone-refractory prostate cancer in combination with Sanofi-Aventis’ Taxotere(R), which is the current gold-standard chemotherapeutic treatment for this indication. Hybrigenics’ research program explores the role of enzymes known as ubiquitin-specific proteases (USP) in the degradation of onco-proteins, and the effectiveness of proprietary USP inhibitors in treating various types of cancer.
Hybrigenics Services SAS is the market leader in Yeast Two-Hybrid (Y2H) and related services to identify, validate and inhibit protein interactions for researchers in all areas of life sciences, using its ISO 9001-certified high-throughput Y2H screening platform, its sophisticated bioinformatics tools and extensive database, along with its chemical library and chemical screening platform.
HYBRIGENICS is listed on the Alternext by NYSE Euronext Paris ISIN: FR0004153930 Ticker: ALHYG
Lynne Chapman ANDREW LLOYD & ASSOCIATES http://www.ala.com lynne@ala.com
Brighton Business Centre 95 Ditchling Road Brighton BN1 4ST ENGLAND Tel: +44 1273 675100 Fax: +44 1273 675400
55 rue Boissonade 75014 Paris FRANCE Tel: +33 1 56 54 07 00 Fax: +33 1 56 54 07 01
INTERNATIONAL TECHNOLOGY MARKETS, STRATEGY & COMMUNICATION
