Paris, 27 July 2009 - 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 for the first half of 2009.
Following on to the buoyant growth in revenue from scientific services achieved by Hybrigenics Pharma and Hybrigenics Services in the first three months of 2009, Hybrigenics continued its growth in the second quarter. The company recorded a revenue growth from EUR 1.24 million to EUR 2.16 million, an increase of +74 percent.
The research agreement between Hybrigenics and Servier resulted in a further payment by the laboratory to the company, taking its Pharma division’s revenue to EUR 0.6 million for the first 6 months of 2009.
Hybrigenics Services recorded its fourth consecutive quarter of revenue growth leading to EUR 1.56 million (+54 percent) in sales over the first half of 2009.
Hybrigenics’ net cash position at 30 June 2009 amounted to EUR 1.77 million (including EUR 60,000 of non-used cash allocated to the liquidity contract signed with Euroland Finance). This encouraging figure is to put into perspective with the net cash position of EUR 2.34 million at 31 December 2008, and results from increasing revenues and effective cost-control.
“The sustained buoyant growth of our services activities and the remarkable clinical tolerance results obtained with inecalcitol, our development product against prostate cancer, represent very significant achievements for Hybrigenics in this first half-year,” said Remi Delansorne, Hybrigenics’ CEO.
About Hybrigenics
Hybrigenics (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 is also 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.
