Lyon, July 8, 2021 – Theranexus, an innovative biopharmaceutical company in the treatment of neurological diseases and a pioneer in the development of drug candidates modulating the interaction between neurons and glial cells, today announces its cash flow as of June 30, 2021.
The total funds available at June 30, 2021 amounted to € 13.5 million compared to € 11.2 million as at December 31, 2020. At mid-term 2021, the Company’s cash position is relatively stable and offers financial visibility for Next 18 months in accordance with the objectives set.
The eight out of twelve drawdowns made during the first semester (for a total of € 5.6m in funds) on the equity line set up with IRIS generally covered operational cash outflows, mainly linked to developments in the R&D platform and BBDF-101 program.
During the second half of 2021, the Company should also benefit from the 2020 Research Tax Credit (CIR) for an amount of € 1.0 million, and from Bpifrance financing for an amount of € 1.0 million as part of the project. Neurolead.
Thierry Lambert, CFO of Theranexus, makes the following comment: “The company’s cash flow of € 13.5 million as of June 30, 2021 is in line with our objective of securing our cash flow over the next 18 months and provides us with financial flexibility to support the development plans programmed for our various programs. “
Progress of the main clinical programs
The Company is actively pursuing the development of its main programs, currently focused mainly on THN102 and BBDF-101.
THN102 program (excessive daytime sleepiness in Parkinson’s disease)
Discussions with several potential industrial partners have not yet resulted in an agreement as of June 30 and are continuing. The objective is to conclude an industrial agreement governing the format of use, the geographical areas concerned and the clinical development path.
BBDF-101 program (Batten disease)
The regulatory preclinical phase of BBDF-101 has been successfully completed and the Company is finalizing its clinical trial authorization application with the FDA, with a view to starting clinical trials in the United States by the end of the year. year as expected. As a reminder, the clinical trial, which includes cohorts of 6 adolescent / adult patients and 30 pediatric patients, aims for direct approval of the product if successful, due to its designation as an orphan drug in the United States and its rare pediatric disease designation in the United States.
Franck Mouthon, Chairman and CEO and co-founder of Theranexus, makes the following comments: “For our drug candidate BBDF-101, we have successfully completed preclinical trials that will allow us to begin clinical trials in the United States once Food and Drug Administration (FDA) approval is granted. Candidate THN102.”
Next financial publication:
Thursday, September 30, 2021: Financial results for the first half of 2021
| ABOUT THERANEXUS
Theranexus is a clinical stage biopharmaceutical company created by the French Alternative Energies and Atomic Energy Commission (CEA) in 2013. It develops drug candidates for the treatment of diseases of the nervous system. |
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