Valbonne, France, May 6, 2015 - TxCell (FR0010127662 - TXCL), a biotechnology company developing innovative, personalized T-cell immunotherapies using antigen specific regulatory T-cells (Ag-Tregs) for severe chronic inflammatory and autoimmune diseases, today reports its revenues for 1Q 2015 and its cash position as of March 31, 2015.
Revenues:
In the first three months of 2015, the company generated revenues of EUR 195 thousand, compared with revenues of EUR 81 thousand during the same period in 2014.
The revenue for 1Q 2015 corresponds to:
• EUR 81 thousand relating to amortization until December 31, 2016 of the payment received upon signature in 2013 of the partnership with Trizell/Ferring concerning Ovasave(R)
• EUR 114 thousand for income related to the financing by Trizell of the process and manufacturing development of Ovasave(R) for TxCell’s future phase III clinical study and commercialization.
Cash and cash equivalents:
TxCell received a milestone payment of EUR 1 million from Trizell/Ferring in 1Q 2015, following the enrolment of the first patient in the Ovasave phase IIb clinical trial. This milestone payment was recognized as revenue in 2014.
Cash and cash equivalents amounted to EUR 11.3 million as of March 31, 2015, compared with EUR 13.9 million as of December 31, 2014.
Highlights since the beginning of the year:
• Grant of a key US patent that protects Ovasave until 2030 minimum
• Amendment to the collaboration agreement with Trizell to accelerate the development of Ovasave
• Agreement with the Cell Therapy Catapult for the process and manufacturing development of TxCell’s ASTrIA product platform
• Appointment of Dr. David Horn Solomon as independent member of the board and Chairman of the remuneration and nomination sub-committee
• Appointment of Stéphane Boissel as Chief Executive Officer and promotion of Miguel Forte as Chief Operating Officer.
Next events:
• 18 Annual International Society for Cellular Therapy (ISCT) Meeting, May 27-30, 2015
• The European Society of Ophthalmology (SOE) 2015 Congress, June 6-9, 2015
Next financial release:
• Second quarter 2015 revenues on Tuesday August 4, 2015 (after market close)
About TxCell
TxCell develops innovative, cost-effective, personalized T-cell immunotherapies for the treatment of severe chronic inflammatory diseases with high medical need. TxCell has created ASTrIA, a unique and proprietary product platform based on the properties of autologous antigen-specific regulatory T lymphocytes (Ag-Tregs). The company has initiated a phase IIb study of its lead product candidate, Ovasave(R) in refractory Crohn’s disease patients. This follows a phase I/IIa study in the same patient population reporting positive clinical efficacy and good tolerability. TxCell has a strategic partnership for the development of Ovasave with the Swiss company Trizell Holding SA and Ferring International Center remains the intended final commercializing party. Both companies are affiliates of the Dr Frederik Paulsen Foundation. TxCell’s second product candidate, Col-Treg is for the treatment of autoimmune uveitis, a rare disease of the eye. A placebo-controlled, dose-ranging proof of principle clinical study is planned to start mid-2015. Listed on the regulated market Euronext-Paris, TxCell is a spin-off of Inserm (France’s National Institute for Health and Medical Research). TxCell has 65 employees based both at the headquarters located in the Sophia-Antipolis technology park, Nice, France and at its manufacturing site in Besançon. For more information, please visit www.txcell.com
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