A biotechnology business company business enterprise specializing in precision phage therapy to deal with resistant and/or complicated bacterial infections, these days publicizes its financial results for the number one half of the 3 hundred and sixty five days to June 30, 2021 and assesses its sports and improvement prospects.
Guy-Charles Fanneau de La Horie, Chairman of the Executive Board of Pherecydes Pharma, says: “The first 1/2 of of of 2021 modified into marked via way of the strengthening of our monetary abilities following our IPO, the granting of a €2 million State-Guaranteed Loan thru the usage of Bpifrance and the renegotiation of our PhagoProd subsidy with the European Commission. We have consequently multiplied our development plan and reinforced our companies with the recruitment of 10 new people of body of human beings. This structuring of the employer has enabled us to offer a response to the growing call for for our merchandise in the framework of compassionate remedy, to prepare our PhagoDAIR scientific have a examine, to file a file soliciting for early get proper of get admission to to application (AAC)1 for our anti-Staphylococcus aureus phages and to accompany the PhagoPied (treatment of S. Aureus contamination of diabetic foot ulcers) and PhagOS (remedy of S. Aureus osteoarticular contamination of hips and knee prostheses) clinical research. To date, 36 sufferers have benefited from compassionate treatment authorized via using way of the ANSM (French Health authorities) with our anti-Staphylococcus aureus or anti-Pseudomonas aeruginosa phages, in numerous caution signs and with one-of-a-kind routes of management. We have moreover been able to make sure the manufacturing, according with GMP (Good Manufacturing Practice), of numerous batches of phages that can be used in the framework of AAC and medical studies”.
In the primary half of 2021, popular jogging earnings, essentially which includes capitalized production related to the Staphylococcus aureus (S. Aureus) and Pseudomonas aeruginosa (P. Aeruginosa) programs, modified into €1,328 thousand in evaluation with €422 thousand in the first 1/2 of of 2020, an boom of 215%. This difference become a surrender cease end result of the notable art work undertaken in 2021 on the ones two property, at the same time as within the first 1/2 of of 2020 hobby have been impacted with the useful resource of the COVID-19 pandemic and similarly skip-industrial organization artwork now not due to those property.
Operating expenses totaled €three,257 thousand inside the first 1/2 of of of 2021, up 27% compared with the determine of €2,568 thousand recorded a 365 days in advance. This boom have come to be due to a 24% upward push in other purchases and outdoor costs and a 35% upward thrust in employees fees following the strengthening of the organizations on the Romainville and Nantes internet websites.
The going for walks loss have become €1,929 thousand in the first half of 2021 in preference to €2,146 thousand within the first half of 2020, there has been therefore a ten% reduction in the running loss. This improvement became generally due to the good sized growth in taking walks profits amongst those intervals extra than offsetting the growth in taking walks prices.
Exceptional earnings totaled €225 thousand inside the first half of of of 2021 in choice to €546 thousand in the identical half of of the previous year, reflecting the leveling out of spending in the framework of the PhagoProd challenge financed through the European Commission, a good way to short be finished, and an tremendous provision booked for device the Company no longer uses.
Financial structure
At June 30, 2021, the Company had a cash function of €7,675 thousand (rather than €1,652 thousand at December 31, 2020), a determine that notably consists of the €7 million internet proceeds of the IPO achieved in February 2021. Shareholders’ equity became €10,942 thousand at June 30, 2021 versus €5,285 thousand at December 31, 2020.
The Company’s modern-day cash function will allow Pherecydes Pharma to finance its development according with the strategy furnished at the time of its IPO.
H1 2021 highlights and present day trends
Granting of a €2 million State-Guaranteed Loan
On April 29, 2021, the Company brought that it had acquired, in the framework of the “State-Guaranteed Loan – Innovation Support” scheme, a €2 million mortgage from Bpifrance.
Pherecydes Pharma has also obtained the “Les Excellence” award from Bpifrance for the increase course it has performed in 2021, illustrating Bpifrance’s clear assist for the Company.
Granting of a new patent in Hong Kong
On May 11, 2021, the Company introduced that the Hong Kong authorities had granted it a patent for its anti-Pseudomonas aeruginosa phages.
Thanks to its active highbrow assets coverage, Pherecydes Pharma has a portfolio of 4 patents shielding every of its phages and their editions, some of which have already been granted in primary jurisdictions consisting of the us, Europe, Japan, Australia, Hong Kong and Israel.
Further compassionate remedy, with thirteen more patients dealt with in 2021
In accordance with the approvals of the ANSM (Agence Nationale de Sécurité du Médicament, the French National Agency for the Safety of Medicines), thirteen more sufferers have been capable of benefit from Pherecydes Pharma’s precision phage remedy in 2021, taking the number of sufferers handled up to now in this placing to 36. More sufferers had been treated during the primary 9 months of 2021 as have been treated in 2020 and 2019 combined. This treatment turn out to be appreciably furnished in extra hospitals and in promising new warning signs. 12 one in every of a type hospitals have now used the phages developed and produced via Pherecydes Pharma.
About Pherecydes Pharma
Founded in 2006, Pherecydes Pharma is a biotechnology company that develops remedies against resistant bacterial infections, accountable for many important infections. The Company has superior an innovative approach, precision phage remedy, primarily based on the usage of phages, herbal bacteria-killing viruses. Pherecydes Pharma is developing a portfolio of phages centered on 3 of the most resistant and dangerous bacteria, which by myself account for added than thirds of health facility-acquired resistant infections: Staphylococcus aureus, Escherichia coli and Pseudomonas aeruginosa. The idea of precision phage therapy has been successfully executed in numerous dozen patients in the context of compassionate use, below the supervision of the French National Agency for the Safety of Medicines (ANSM). Headquartered in Nantes, Pherecydes Pharma has a crew of spherical twenty specialists from the pharmaceutical employer, biotechnology area and educational research.
