- Scientific services turnover up 3%
- Total operating revenues down 3%
- Cash position EUR 9.4 million
Paris, 02 February 2015 – Hybrigenics (ALHYG), a bio-pharmaceutical company listed on the Alternext market of Euronext Paris, with a focus on research and development of new treatments of proliferative diseases and specialised in proteomic and genomic scientific services, today announces its revenues and cash position for the year ended December 31st, 2014.
| Million EUR | 2013 | 2014 | 2014/2013 |
| Turnover from scientific services | 3.9 | 4.0 | +3 % |
| Turnover from research partnership | 1.1 | 0.9 | -18 % |
| Total Turnover | 5.0 | 4.9 | -2 % |
| Other operating revenues * | 1.0 | 0.9 | -10 % |
| Total operating revenues | 6.0 | 5.8 | -3 % |
| Cash Position (at year end) | 2.5 | 9.4 | +276 % |
*research subsidies, subleases and services to subleasers
In 2014, the turnover from scientific services increased from EUR 3.9 million to EUR 4.0 million. The drug discovery partnership with Servier, which has recently been extended (see Hybrigenics’ press release of January 26, 2015), has a fixed annual component of EUR 0.75 million. In addition, research milestones have been reached for a total amount of EUR 0.5 million which has been accounted for two thirds in 2013 and one third in 2014. Therefore, revenues from this partnership were EUR 0.9 million in 2014 vs. EUR 1.1 million in 2013. Some of the research subsidies have reached their termination date during 2014, thereby also contributing to the 3% decrease in total operating revenues.
Hybrigenics’ cash position on December 31st, 2014 stood at EUR 9.4 million, i.e. 3.8-fold more than on December 31st, 2013 (EUR 2.5 million). During 2014, a total of EUR 11.75 million has been raised. Two private placements have been performed, one in March of EUR 6.1 million to French and Swiss investors and the other in October of EUR 4.6 million entirely subscribed by US-based CREDE Capital Group. Earlier in 2014, two drawings for a total of EUR 1.05 million had been drawn on the equity line agreement with the American fund Yorkville Global Advisors. EUR 5.0 million are still available on this equity line.
“The cash position at the end of 2014 is the strongest since the end of 2005. It allows us to pursue the development of inecalcitol, like for example with the recently launched Phase II clinical study in chronic myeloid leukemia. Further, it enables us to execute our strategy to boost the international growth of the scientific services: up 12.5% in 2014. The export part of total scientific services turnover has grown from 61% in 2013 up to 68% in 2014,” said Remi Delansorne, Hybrigenics’ CEO.
About Hybrigenics
Hybrigenics (www.hybrigenics.com) is a bio-pharmaceutical group listed (ALHYG) on the Alternext market of Euronext Paris, focusing its internal R&D programs on innovative targets and therapies for the treatment of proliferative diseases and providing cutting-edge proteomic and genomic scientific services.
Hybrigenics’ current development program is based on inecalcitol, a vitamin D receptor agonist active by oral administration. Oral inecalcitol has shown excellent tolerance and strong presumption of efficacy for the first-line treatment of metastastic castrate-resistant prostate cancer in combination with Taxotere®, which is the current gold-standard chemotherapeutic treatment for this indication. Inecalcitol has also been tested in chronic lymphocytic leukemia patients, an indication for which inecalcitol has received orphan drug status in Europe and the United States. A clinical Phase II study of inecalcitol is currently ongoing in chronic myeloid leukemia patients.
Hybrigenics has a research collaboration with Servier on deubiquitinating enzymes (DUBs) and their inhibitors in oncology, neurology, psychiatry, rheumatology, ophthalmology, diabetes and cardiovascular diseases. A first milestone has been achieved in a drug discovery program targeting one DUB in oncology. Hybrigenics Services (www.hybrigenics-services.com) is the market leader in Yeast Two-Hybrid (Y2H) and related services to identify, validate and inhibit protein interactions for researchers in all areas of life sciences, using its ISO 9001-certified high-throughput Y2H screening platform.
Helixio (www.helixio.com), Hybrigenics’ genomic branch, provides state-of-the-art services specialized in DNA chips, DNA or RNA target enrichment and next generation sequencing with an Illumina NextSeq500.
Hybrigenics Corp., based in Cambridge, Mass., is the American subsidiary of Hybrigenics.
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