Oxurion NV will focus its resources on the clinical assets THR-687 and THR-149
Timing guidelines for both programs Confirmed
Leuven, BE, Boston, Massachusetts, United States – June 25, 2021 – 07.00 A M HEC – Oxurion SA (Euronext Brussels: OXUR), a biopharmaceutical company developing next-generation standard ophthalmic therapies, with a portfolio of clinical stages in retinal vascular disorders, today announced a restructuring plan to better align its resources with the ‘execution of its clinical development strategy, notably by advancing its two new programs, THR-687 and THR-149. After a detailed review of its operations and growth opportunities, Oxurion will no longer invest directly in non-core businesses including research into dry AMD and oncology (Oncurious).
Tom Graney, CFA, Managing Director of Oxurion, comments:
“Ttoday’s decision means we are now focus everything our Resources at progress our two exciting clinical programs THR-687 and THR-149, which we believe could play a key role in improving clinical outcomes for patients with a number of significant retinal vascular disease such as DME, AMD wet and RVO which today represents a market opportunity of more than 12 billion dollars.
This decision was made to align our organization and resources with the strategic priorities of the company so that we can maximize value creation in most capital efficient way, while preserving our position as a scientific and clinical leader in the global retina community.
The changes we have announced will have no impact our clinical development timelines which we have already communicated. We plan to begin phase 2 development of the THR-687 in DME in mid-2021 and are on track to deliver the initial part Data from the phase 2 trial with THR-149 in the DME Later this year as expected.
Unfortunately, a number of Oxurion Associates are impacted by today’s changes and I can assure you that we are taken all the measures we can help them towards their npost career opportunity. I would like to deeply thank the colleagues who are touched for their contributions to Oxurion and for helping us make the important progress we have made to date.
To finish, I would like would like to take this opportunity to confirm oyou are commitment in Belgium like our first business location and the house at the vast majority of Our employees.“
The company will also report on the result and impact of today’s decision as part of the business and financial update of the half-year results of September 9, 2021.
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Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next-generation standard ophthalmic therapies designed to better preserve vision in patients with retinal vascular disorders, including diabetic macular edema (DME), the leading cause of vision loss in diabetic patients. worldwide as well as other conditions including age-related macular degeneration (AMD) and retinal venous occlusion (RVO).
Oxurion aims to build the leading global franchise in the treatment of retinal vascular disorders based on the successful development of its two new therapies:
THR-687 is a pan-RGD integrin antagonist that is initially being developed as a potential first-line treatment for patients with DME. The first positive results of a phase 1 clinical study evaluating THR-687 as a treatment for DME were announced in 2020. THR-687 is expected to enter a phase 2 clinical trial in patients with DME. MDGs in mid-2021. THR-687 also has the potential to improve treatment outcomes for patients with wet AMD and RVO.
THR-149 is a plasma kallikrein inhibitor in development as a potential new standard of care for the 40% of patients with DME who respond sub-optimally to anti-VEGF therapy. THR-149 has shown positive phase 1 results for the treatment of DME. The company is currently conducting a Phase 2 clinical trial evaluating multiple injections of THR-149 in patients with DME who previously responded sub-optimally to anti-VEGF therapy.
Oxurion is headquartered in Leuven, Belgium, and is listed on the Euronext Brussels stock exchange under the symbol OXUR. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements contained in this press release may be considered “forward-looking”. These forward-looking statements are based on current expectations and, therefore, involve and are influenced by various risks and uncertainties. The Company can therefore provide no assurance that these forward-looking statements will materialize and assumes no obligation to update or revise any forward-looking statement, whether Consequently new information, future events or any other reason. Additional information regarding the risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s annual report. This press release does not constitute an offer or invitation to sell or purchase any securities or assets of Oxurion in any jurisdiction. No security of Oxurion may be offered or sold in the United States without registration under the US Securities Act of 1933, as amended, or in accordance with an exemption therefrom, and in accordance with the securities laws of the United States. Applicable US states.