STRASBOURG, France, October 11 /PRNewswire-FirstCall/ -- Transgene S.A. announces its cash position and net cash expenditures for the nine months ending September 30, 2006 (unaudited figures, IAS/IFRS).
Cash, cash equivalents and short term investments totaled EUR 25.1 million at September 30, 2006.
For the first nine months of 2006:
- Net cash expenditures amounted to EUR 15.9 million, excluding proceeds from the exercise of warrants and stock options, compared to EUR 15.3 million for the first nine months of 2005. Net cash expenditure for the period is in line with the expected net cash expenditures of approximately EUR 22 million for the fiscal year 2006.
- Cash proceeds of EUR 14.3 million were raised through the exercise of warrants issued as part of the July 2005 capital increase.
Transgene is progressing in its clinical developments as planned:
- Therapeutic cancer vaccine TG 4010 (MVA-MUC1-IL2): recruitment of 140 patients in the controlled Phase IIb trial to treat Non-Small Cell Lung Cancer is ongoing and should be completed in the first quarter of 2007. This European trial of TG 4010 in combination with standard chemotherapy will evaluate Progression Free Survival at 6 months (primary endpoint) compared to standard chemotherapy alone. Interim results are expected from mid-2007.
- Therapeutic vaccine TG 4001 (MVA-HPV-IL2) to treat precancerous lesions of the cervix caused by the Human Papilloma Virus infection (CIN 2-3): positive Phase II studies were completed in April this year and plans are being finalized with the regulatory agencies for the next development stages which will be communicated shortly. In parallel, Transgene is seeking to partner this product based on the positive Phase II trial results.
- Cancer immunotherapy product TG 1042 (Ad-IFNγ) to treat cutaneous lymphoma: treatment of the first patient in a Phase II/III trial in cutaneous B-cell lymphoma is planned in November 2006. Transgene expects this trial to lead to the registration of the product in 2009.
- Therapeutic vaccine TG 4040 (MVA-HCV) to treat chronic Hepatitis C: initiation of a Phase I/II trial in patients infected with the HCV virus is planned for the end of the year.
About Transgene:
Transgene is a France-based biopharmaceutical company dedicated to the development of therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases. The company has three compounds in Phase II trials and one compound in Phase I studies. Transgene has bio-manufacturing production capacities for viral-based vectors and technologies available for out-licensing. For further information about Transgene, please visit www.transgene.fr
This press release contains forward-looking statements referring to the planned development and clinical testing of Transgene's therapeutic vaccine candidates. However, product development and clinical testing depend on a variety of factors, including the timing and success of patient enrolment and the risk of unanticipated adverse patient reactions. Results from future studies with more data may show less favorable outcomes than prior studies, and there is no certainty that product candidates will ever demonstrate adequate therapeutic efficacy or achieve regulatory approval or commercial use. For a more detailed description of the risks and uncertainties involved in the development and testing of Transgene's product candidates, see Transgene's Document de reference on file with the Autorite des marches financiers (AMF).
Press Contacts: Transgene Philippe Poncet +33-3-88-27-91-21 Capital MS&L Shaun Brown Mary Clark +44-207-307-5330 Image 7 Estelle Guillot-Tantay Tiphaine Hecketsweiler +33-1-53-70-74-93
Transgene S.A.CONTACT: Press Contacts: Transgene, Philippe Poncet, +33-3-88-27-91-21;Capital MS&L, Shaun Brown, Mary Clark, +44-207-307-5330; Image 7, EstelleGuillot-Tantay, Tiphaine Hecketsweiler, +33-1-53-70-74-93
