Poxel Provides Corporate Update and Reports Cash and Revenue for the Third Quarter and Nine Months 2023
November 09, 2023 at 08:51 am EST
Share
France - POXEL SA (Euronext : POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today provided a corporate update and announced its cash position and revenue for the third quarter and the nine months ended September 30, 2023.
'We are extremely satisfied with TWYMEEG strong growth trajectory over this past quarter, with an almost 30% growth reported by our partner, Sumitomo Pharma. It is a sustained confirmation of the value of TWYMEEG to treat patients with type-2-diabetes. Also, if the current trend is maintained, we could expect to exceed Sumitomo Pharma's FY 2023 forecast, which would entitle us to higher royalties on all TWYMEEG net sales and a sales-based payment of EUR 3.4 million2 sooner than expected,' stated Thomas Kuhn, Chief Executive Officer of Poxel. 'We are still in active discussions with investors and potential partners as we are focused on securing additional fundings to move forward our rare diseases strategy and launch Phase 2 Proof-of-Concept (POC) studies in ALD.'
About Poxel SA
Poxel is a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare disorders. For the treatment of NASH, PXL065 (deuterium-stabilized R-pioglitazone) met its primary endpoint in a streamlined Phase 2 trial (DESTINY-1). In rare diseases, development of PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, is focused on the treatment of adrenoleukodystrophy (ALD) and autosomal dominant polycystic kidney disease (ADPKD). TWYMEEG (Imeglimin), Poxel's first-in-class product that targets mitochondrial dysfunction, is now marketed for the treatment of type 2 diabetes in Japan by Sumitomo Pharma and Poxel expects to receive royalties and sales-based payments. Poxel has a strategic partnership with Sumitomo Pharma for Imeglimin in Japan, China, and eleven other Asian countries. Listed on Euronext Paris, Poxel is headquartered in Lyon, France, and has subsidiaries in Boston, MA, and Tokyo, Japan.
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 or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements. The Company does not endorse or is not otherwise responsible for the content of external hyperlinks referred to in this press release.
Poxel is a biopharmaceutical company specializing in developing innovative treatments for metabolic diseases, including non-alcoholic steatohepatitis (NASH) and rare diseases.
TWYMEEG® (Imeglimine), Poxel's lead product and the first in its class of medicines, which targets mitochondrial dysfunction, has been marketed in Japan for the treatment of type 2 diabetes.
For the treatment of NASH, the PXL065 met its primary endpoint in a streamlined Phase II trial, and PXL770 has completed a Phase IIa proof-of-concept study by reaching its objectives. In adrenoleukodystrophy (ALD), a rare inherited metabolic disease, the company intends to initiate Phase IIa proof-of-concept studies with the PXL065 and the PXL770 in patients with adrenomyeloneuropathy (AMN).
POXEL 
