CAMBRIDGE, Mass. and PARIS, April 16, 2018 (GLOBE NEWSWIRE) -- Lysogene (FR0013233475 – LYS), a leading biopharmaceutical company pioneering gene therapy technologies to treat central nervous system (CNS) diseases, today reports its cash position for the first quarter 2018 and provides a business update.
“We enter 2018 with significant momentum to achieve key clinical development and regulatory milestones across our portfolio of gene therapy products for neurological diseases,” said Karen Aiach, Founder and Chief Executive Officer of Lysogene. “This year, we expect to initiate our pivotal clinical trial in Mucopolysaccharidosis type IIIA (MPS IIIA) in the U.S. and Europe and pursue IND enabling studies for our GM1 Gangliosidosis (GM1) product. We are also delighted to have secured a collaboration agreement for the development of an AAV-based gene therapy for Fragile X syndrome, the most common genetic cause of autism, a condition of high unmet medical need.”
Cash position and revenues as of March 31, 2018
As of March 31, 2018, cash and cash equivalents amounted to €9.9 million1 compared to €14.1 million on December 31, 2017. As expected, Lysogene did not generate revenues during the first quarter 2018.
Business Update
LYS-SAF302, late stage clinical drug candidate for MPS IIIA progress and outlook
Lysogene continues to progress the preparation of its pivotal clinical program and recent developments include:
LYS-GM101, drug candidate for the treatment of GM1
Next financial milestones:
About Lysogene
Lysogene is a gene therapy company focused on the treatment of rare diseases of the central nervous system (CNS). The company has built a unique capability to enable a safe and effective delivery of gene therapies to the CNS to treat lysosomal diseases and other genetic disorders of the CNS. A pivotal clinical trial in MPS IIIA is expected to start in 2018, a phase 1-2 clinical trial in GM1 Gangliosidosis in 2019, while we are currently collaborating to define the clinical development path for the treatment of Fragile X syndrome. www.lysogene.com
Contacts
Julie Coulot / Emmanuel Huynh | Chris Maggos |
NewCap | LifeSci Advisors |
lysogene@newcap.eu | chris@lifesciadvisors.com |
+ 33 1 44 71 94 95 | +41 79 367 6254 |
Forward looking statement
This press release may contain certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.
1 Unaudited and not subject to approval by the board of directors