Leuven, BE, Boston, MA, US – April 6, 2021 – 7.30 AM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next generation standard-of-care back of the eye therapies, today announces that is has agreed to a capital commitment of up to €30 Million with Negma Group.
Negma Group is a Paris-based leading financial institution focused on supporting growth and capturing value through a multi-strategy approach.
Negma Group has committed to subscribe to up to €30 million in equity in tranches over a 12-month period through mandatory convertible bonds at Oxurion’s sole discretion.
Oxurion anticipates initial clinical data from its lead drug candidate THR-149 later this year. THR-149 is a plasma kallikrein inhibitor being developed as a potential new standard of care for diabetic macular edema (DME) patients, who respond sub-optimally to anti-VEGF therapy.
Oxurion also expects to initiate a Phase 2 clinical trial with THR-687 in DME by mid-year. THR-687 is a pan-RGD integrin inhibitor that is being developed as a potential first line therapy for all DME patients. THR-687 also holds potential to deliver improved treatment outcomes for patients with wet Age-related Macular Degeneration (wet AMD) and Retinal Vein Occlusion (RVO).
Patrik De Haes, M.D., CEO of Oxurion, says: “I am happy that we have been able to agree on this flexible financing agreement, which is under our control and can be exercised at our discretion. Access to these funds will allow us to focus on progressing our two exciting novel and differentiated back of the eye drug candidates that are targeting potential market opportunities of over $12 billion, beyond key value inflection points in 2021 and 2022.”
“We are excited to collaborate with Oxurion. At Negma Group, we invest in people and have been very impressed by both the scientific rigor and clinical experience of the Oxurion team. We are proud to partner with this team while they advance two very distinct and innovative programs that have great potential to deliver much improved clinical outcomes to patients suffering from debilitating retinal vascular disorders such as DME, wet AMD and RVO”, says Sophie Villedieu, Equity Capital Market Associate of Negma Group.
For further information please contact:
| Oxurion NV|
Global Head of Investor Relations
& Corporate Communications
Tel: +32 478 33 56 32
Anthony de Rauville, CIO
Tel : +33 (0)6 48 10 16 41
Sophie Villedieu, ECM Associate
Tel: +33 (0)6 24 48 07 94
| EU |
Citigate Dewe Rogerson
David Dible/ Sylvie Berrebi/Frazer Hall
Tel: +44 20 7638 9571
Westwicke, an ICR Company
Tel: +1 617 835 9304
Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to better preserve vision in patients with Diabetic Macular Edema (DME), the leading cause of vision loss in diabetic patients worldwide as well as other conditions, including wet Age-related Macular Degeneration (AMD) and Retinal Vein Occlusion (RVO).
Oxurion is aiming to build the leading global franchise in the treatment of DME, based on the successful development of its two novel therapeutics:
- THR-149, a plasma kallikrein inhibitor being developed as a potential new standard of care for DME patients who respond sub-optimally to anti-VEGF therapy. THR-149 has shown positive topline Phase 1 results for the treatment of DME. The Company is currently conducting a Phase 2 clinical trial evaluating multiple injections of THR-149 in DME-patients who previously responded sub-optimally to anti-VEGF therapy. THR-149 was developed in conjunction with Bicycle Therapeutics PLC (NASDAQ: BCYC).
- THR-687 is a pan-RGD integrin inhibitor that is initially being developed as a potential first line therapy for DME patients. Positive topline results in a Phase 1 clinical study assessing THR-687 as a treatment for DME were announced in 2020. THR-687 is expected to enter a Phase 2 clinical trial in mid-2021. THR-687, which is an optimized compound derived from a broader library of integrin inhibitors in-licensed from Galapagos NV (Euronext & NASDAQ: GLPG), also has the potential to deliver improved treatment outcomes for patients with wet AMD and RVO.
Oxurion is headquartered in Leuven, Belgium, and is listed on the Euronext Brussels exchange under the symbol OXUR. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.