PharmaMar (MSE:PHM) will hold today its Annual General Shareholders’ Meeting in Vigo (Spain) today, where it will review the 2018 financial year, the Company’s most important milestones and future plans, particularly in the oncology area, where the bulk of the Group’s activity is carried out.
Vigo (Spain), June 26th, 2019.- PharmaMar(MSE:PHM) will hold today its Annual General Shareholders' Meeting in Vigo (Spain) today, where it will review the 2018 financial year, the Company's most important milestones and future plans, particularly in the oncology area, where the bulk of the Group's activity is carried out.
During the meeting, in addition to presenting the Company's financial results, the evolution of the Company's different projects will be discussed.
Oncology Business Unit
Clinical trials with lurbinectedin for the treatment of SCLC are one of PharmaMar's priority research areas.
In August 2018, PharmaMar completed the recruitment of 613 patients for its Phase III ATLANTIS trial with lurbinectedin in combination with doxorubicin for the above indication, the results of which are expected in 2020.
The results recently presented at the ASCO congress in relation to the monotherapy study with lurbinectedin as a single agent for the treatment of relapsed SCLC, which achieved its primary endpoint, will also be recapped at the meeting.
With regard to Aplidin® (plitidepsin), in December 2018, PharmaMar's partner in Australia, STA, obtained approval for the fourth-line treatment of Multiple Myeloma in combination with dexamethasone. This approval opens the door to potential approvals in Southeast Asian markets, as well as in other countries such as Mexico, Canada and also North Africa, among others, where PharmaMar has partners for this product.
Consumer chemicals
The sale of Zelnova for €33.4 million will be presented for approval at this Annual Shareholders' Meeting, this is in addition to the sale of Xylazel announced on the 20th September 2018, for which €21.8 million were received. PharmaMar has continued with its strategy of focusing on oncology, its core business, and will complete the disinvestment of its Consumer Chemicals segment with a positive shareholder vote.
Sylentis
At the Annual Congress of the Association for Research in Vision and Ophthalmology (ARVO) held last May in Vancouver (Canada), Sylentis presented results from the HELIX clinical trial with its compound, SYL1801.
GENOMICA
The Group's molecular diagnostics company announced the signing of its first contract in China with the medical equipment company HuaSin, to lead the global challenge of early diagnosis of cervical cancer in China. The Spanish company has one of the most advanced and effective tools for the molecular diagnosis of Human Papilloma Virus (HPV). Early detection could largely prevent the further development of cervical cancer, a type of cancer that affects more than half a million women worldwide each year, of which approximately 25% occur in China.
PharmaMar's investment in R&D in 2018
The Company continued its investment in R&D in 2018, with approximately €74 million spent. 86% of this expenditure was by the Oncology Business Unit, to continue the development of promising molecules.
In the oncology segment, €63.7 million were allocated to R&D in 2018, compared to €71 million the previous year. This difference is largely due to the termination of the recruitment last July of the 613 patients in the Phase III lurbinectedin trial, ATLANTIS, for the treatment of SCLC, the results of which are expected in 2020.
In addition, Yondelis'® market share in Europe for the treatment of soft-tissue sarcoma remains unchanged. Sales of this compound represented net revenues of €74 million, a 55% of the Group's total net sales in 2018.
Revenues from licenses, development agreements and royalties totaled €28.5 million, a 70% increase on the previous year. PharmaMar has entered into new licensing agreements and has received milestones of €9.6 million. Furthermore, as a result of the agreement to terminate the license with Chugai Pharmaceutical Co., Ltd. of lurbinectedin for Japan, revenues of €15.1 million were recognized.
Legal warning
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About PharmaMar
Headquartered in Madrid, PharmaMar is a biopharmaceutical company, focused on oncology and committed to research and development which takes its inspiration from the sea to discover molecules with antitumor activity. It is a company that seeks innovative products to provide healthcare professionals with new tools to treat cancer. Its commitment to patients and to research has made it one of the world leaders in the discovery of antitumor drugs of marine origin.
PharmaMar has a pipeline of drug candidates and a robust R&D oncology program. It develops and commercializes Yondelis® in Europe and has other clinical-stage programs under development for several types of solid cancers: lurbinectedin (PM1183), PM184 and PM14. With subsidiaries in Germany, Italy, France, Switzerland, Belgium, Austria and the United States. PharmaMar wholly owns other companies: GENOMICA, a molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing (RNAi); and a chemical enterprise, Zelnova Zeltia. To learn more about PharmaMar, please visit us at www.pharmamar.com
Media Contact:
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Miguel Martínez-Cava – Communication Manager mmartinez-cava@pharmamar.com Mobile: +34 606597464
Phone: +34 918466000
Investor Relations:
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Or please visit our website at www.pharmamar.com
