M&A Activity • Jul 29, 2013
M&A Activity
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Lyon, France, July 29, 2013 - Adocia (NYSE Euronext Paris: FR0011184241 - ADOC), a biotechnology company specializing in the development of 'best-in-class' medicines from already approved therapeutic proteins, announced today that it had agreed with Eli Lilly and Company not to continue further joint research under the licensing agreement signed in December 2011 relating to use of Adocia's BioChaperone® technology for the formulation of fast acting insulin analog formulated with the BioChaperone® technology. Consequently, the two companies have terminated the collaboration.
"We intend to pursue more actively this project by ourselves as the phase I clinical trial met the predefined clinical endpoints, hence confirming the great potential of our BioChaperone® technology" said Gérard Soula, President and CEO.
"Our plan is to test a BioChaperone® insulin analog formulation on type I diabetic patients. For this, we intend to conduct, before year end in Germany, a clinical trial on one or more formulations of insulin analog. This trial will be carried out in parallel to the one already scheduled with HinsBet®, our formulation of human insulin" said Olivier Soula, Deputy General Manager and Director R&D.
The company has a strong financial position enabling the development of this priority project at its own expense.
September 5, 2013: Publication of mid-year financial statements as of June 30, 2013. September 6, 2013: Presentation meeting to investors (SFAF).
Adocia is a biotech company specialized in the development of best-in-class drugs from the innovative formulation of certain already-approved therapeutic proteins.
Adocia is specialized in insulin therapy and the treatment of the diabetic foot, one of the main complications of diabetes. Worldwide, more than 366 million individuals are currently suffering from diabetes (with a forecast of 552 million individuals by 2030, i.e. a 51% increase, reaching 70% in emerging countries). 15% of these patients will develop a foot ulcer during their lifetime. The markets targeted by Adocia represent more than USD20 billion (USD17 billion for insulin therapy and USD3 billion for diabetic foot ulcer healing).
Through its BioChaperone® state-of-the-art technological platform, Adocia intends to enhance the effectiveness and safety of therapeutic proteins and their ease of use for patients, with the aim of making these medicines accessible to the broadest public.
Adocia successfully completed two phases I and II studies on the formulation of a fast-acting human insulin and obtained promising phase I/II results on a diabetic foot ulcer-healing product. Furthermore, Adocia is developing a unique combination of fast-acting insulin and slow-acting insulin, for an optimal insulin therapy with one single product.
Based on its experience and recognized know-how, Adocia has extended its activities to the formulation of monoclonal antibodies, which are gold standard molecules for the treatment of numerous chronic pathologies (oncology, inflammation, etc.). In this field, Adocia is engaged in collaborative programs with two major pharmaceutical companies.
Adocia's therapeutic innovations aim at bringing solutions to a profoundly changing global pharmaceutical and economic context, characterized in particular by the increased prevalence and impact of the targeted pathologies, population growth and ageing, the need to control public health expenditures and increasing demand from emerging countries.
Adocia is listed on the regulated market of NYSE Euronext in Paris (ISIN: FR0011184241, mnemo / Reuters / Bloomberg: ADOC, ADOC.PA, ADOC.FP) and its share included in the Next Biotech index. For more information: www.adocia.com
Gérard Soula - [email protected] Chairman and CEO of Adocia Tél. : +33 4 72 610 610
Press Relations Andrew Lloyd & Associates Juliette dos Santos - [email protected] Tél. : +33 1 56 54 07 00
Financial communication & Investor Relations NewCap Pierre Laurent - [email protected] Tél. : +33 1 44 71 94 94
This press release contains certain forward-looking statements concerning Adocia and its business. Such forward-looking statements are based on assumptions that Adocia considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the "Risk Factors" section of the Reference Document registered by the Autorité des marchés financiers on April 25, 2013 under number R13- 017 (a copy of which is available on www.adocia.com) and to the development of economic conditions, financial markets and the markets in which Adocia operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or not currently considered material by Adocia. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Adocia to be materially different from such forward-looking statements.
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