Significant progress on cornerstone program ABX464 (HIV and IBD)
Solid cash position, enabling the accomplishment of upcoming milestones until mid-2018
• Continued development of ABX464 showed encouraging results in HIV and inflammatory diseases ;
• Discovery of new promising molecules targeting Chikungunya and Dengue; preclinical studies for Chikungunya ongoing ;
• Encouraging preclinical results in oncology with ABX196, Abivax’s proprietary immune enhancer ;
• ABX203 development suspended since mid-2016
• Bpifrance awarded a €8.4m milestone-based subsidy and loan from the “invest in the future” program ;
• Robust cost control and significant decrease in cash burn during second half 2016 (€5.1m during second half 2016 versus €11m during first half 2016) ;
• €23m available in cash as of December 31, 2016, allowing funding of the Company until mid-2018.
Paris, March 15, 2017 at 6pm CET – ABIVAX (Euronext Paris: FR0012333284 – ABVX), an innovative biotechnology company targeting the immune system to eliminate viral diseases, announced today its 2016 full year financial results, as of December 31st and provides an update on its progress and perspectives for 2017. The financial statements for 2016, approved by the Company’s Board of Directors on March 13, 2017, have been audited and the certification report is being prepared by the Company’s external auditors.
“We are very satisfied with the progress of ABIVAX in 2016, both from a financial perspective as well as with the progressin the development of our portfolio,” said Professor Hartmut Ehrlich, M.D., Chief Executive Officer of ABIVAX, and added “ABX464, our most advanced product candidate, which targets a functional cure in HIV patients, has shown antiviral activity in a Phase II study. Based on these results, we are now conducting a second phase II, treatment interruption study, which measures the time to viral load rebound. Top-line data for this study are expected by the end of April 2017. Furthermore, based on encouraging preclinical data on the treatment of inflammatory bowel disease (IBD), ABIVAX is initiating a Phase II proof of concept study with ABX464 in this indication. Furthermore, Bpifrance awarded ABIVAX with a combined subsidy and loan allowing us to broaden our research to identify compounds against additional viruses with a high unmet medical need, based on our antiviral platform. Finally, ABX196, our immune enhancer candidate, has shown promising preclinical data turning tumors that are non-responsive to checkpoint inhibitors into responsive tumors.”
+ 33 6 64 18 99 59 or
+ 33 1 44 54 36 65
Standard: +33 1 53 83 08 41