Navigation Links
AMT Provides Business Update for the First Quarter 2010

AMSTERDAM, May 19, 2010 /PRNewswire-FirstCall/ -- Amsterdam Molecular Therapeutics (EuroNext Amsterdam: AMT), a leader in the field of human gene therapy, today provides its non-audited business update in compliance with the EU transparency directive. This report summarizes material events and AMT's financial position for the first quarter of 2010.

    Q1 2010 Highlights

    - EMA starts formal review of Glybera(R) dossier
    - Dossier validated by EMA on January 20, 2010
    - Day 120 questions from EMA expected second half of May 2010
    - Innovation Credit received from Dutch Government for Duchenne Muscular
    - Up to EUR 4 million funding, repayable only on successful
    - Supports 35% of development costs through to 2013
    - Start of Phase I/II Gene Therapy Clinical Trial for Hemophilia B
    - First patient dosed

Business Update

AMT's cash position* on March 31, 2010 amounted to EUR17.7 million compared to EUR22.6 million on December 31, 2009. The cash outflow in the first quarter of 2010, amounting to EUR4.9 million mainly represented operational cash flow. AMT employed 85 persons as of March 31, 2010. Total expenses in the first quarter of 2010 were EUR5.1 million compared to EUR4.9 million in the same period last year.

* The Company's cash position is composed of cash and cash equivalents.

Material events after March 31, 2010

On May 6, 2010 the Company announced that Professor Sander van Deventer joined the Supervisory Board. At the same time, Alexander Ribbink retired from the Supervisory Board and Piers Morgan (CFO) was appointed to the Management Board.

About Amsterdam Molecular Therapeutics

AMT, founded in 1998 and based in Amsterdam, is a leader in the development of human gene based therapies. Using AAV as the delivery vehicle of choice for therapeutic genes, the company has been able to design and validate what is probably the first stable and scalable AAV production platform. This safe and efficacious proprietary platform offers a unique manufacturing capability which can be applied to a large number of rare (orphan) diseases that are caused by one faulty gene. Currently, AMT has a product pipeline with several AAV-based gene therapy products in LPLD, Hemophilia B, DMD, Acute Intermittent Porphyria and Parkinson's Disease at different stages of research or development.

Certain statements in this press release are "forward-looking statements" including those that refer to management's plans and expectations for future operations, prospects and financial condition. Words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify such forward-looking statements. Such statements are based on the current expectations of the management of Amsterdam Molecular Therapeutics only. Undue reliance should not be placed on these statements because, by their nature, they are subject to known and unknown risks and can be affected by factors that are beyond the control of AMT. Actual results could differ materially from current expectations due to a number of factors and uncertainties affecting AMT's business, including, but not limited to, the timely commencement and success of AMT's clinical trials and research endeavors, delays in receiving U.S. Food and Drug Administration or other regulatory approvals (i.e. EMA, Health Canada), market acceptance of AMT's products, effectiveness of AMT's marketing and sales efforts, development of competing therapies and/or technologies, the terms of any future strategic alliances, the need for additional capital, the inability to obtain, or meet, conditions imposed for required governmental and regulatory approvals and consents. AMT expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. For a more detailed description of the risk factors and uncertainties affecting AMT, refer to the prospectus of AMT's initial public offering on June 20, 2007, and AMT's public announcements made from time to time.

SOURCE Amsterdam Molecular Therapeutics B.V
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. CardioDynamics Provides 2007 Shareholder Meeting Update
2. Pressure BioSciences, Inc. Reports Second Quarter 2007 Financial Results and Provides Business Update
3. NxStage Medical Provides Update on Medisystems Acquisition
4. VaxGen Files 2006 Financial Statements and Provides Cash Update
5. Signalife Provides Corporate Update
6. Revolutionary Genomics Research Group Opens Boston Office; Provides DNA Evidence in Workers Comp Cases
7. Elekta Contract Provides Sisters of Mercy Health System Access to Leading Radiation Therapy Solutions
8. SGX Provides Update on BCR-ABL Collaboration
9. Intra-Cellular Therapies Provides Overview of its Proprietary Portfolio of Compounds for the Treatment of Female Sexual Dysfunction (FSD)
10. Pressure BioSciences, Inc. Provides Corporate Update
11. New Scrip Report Provides Strategic Insight on the Burgeoning Biosimilars Market
Post Your Comments:
(Date:6/24/2016)... ... ... While the majority of commercial spectrophotometers and fluorometers use the z-dimension of 8.5 ... end machines that use the more unconventional z-dimension of 20mm. Z-dimension or ... the cuvette holder. , FireflySci has developed several Agilent flow cell product lines ...
(Date:6/23/2016)... ... June 23, 2016 , ... UAS ... the launch of their brand, UP4™ Probiotics, into Target stores nationwide. The company, ... proud to add Target to its list of well-respected retailers. This list includes ...
(Date:6/23/2016)... 2016 A person commits a crime, and the ... track the criminal down. An outbreak of foodborne ... Administration (FDA) uses DNA evidence to track down the bacteria ... far-fetched? It,s not. The FDA has increasingly used a complex, ... foodborne illnesses. Put as simply as possible, whole genome sequencing ...
(Date:6/23/2016)... MONICA, Calif. , June 23, 2016  The Prostate Cancer Foundation ... pioneer increasingly precise treatments and faster cures for prostate cancer. Members of the ... institutions across 15 countries. Read More About the Class ... ... ...
Breaking Biology Technology:
(Date:5/24/2016)... , May 24, 2016 Ampronix facilitates superior patient care by providing ...  3D medical LCD display is the latest premium product recently added to the range ... ... ... Sony 3d Imaging- LCD Medical Display- Ampronix News ...
(Date:5/3/2016)... , May 3, 2016  Neurotechnology, a provider ... MegaMatcher Automated Biometric Identification System (ABIS) , ... multi-biometric projects. MegaMatcher ABIS can process multiple complex ... any combination of fingerprint, face or iris biometrics. ... SDK and MegaMatcher Accelerator , which ...
(Date:4/19/2016)... -- The new GEZE SecuLogic access control ... system solution for all door components. It can be ... interface with integration authorization management system, and thus fulfills ... dimensions of the access control and the optimum integration ... considerable freedom of design with regard to the doors. ...
Breaking Biology News(10 mins):