LEUVEN, Belgium, March 13 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on vascular diseases, today announces a business update and its financial results for the twelve month period ending 31 December 2007. During this period, ThromboGenics has raised additional funds to invest in its development pipeline and has continued to make good progress with its clinical programs.
- Successful placing of a total of 5,166,517 shares in May 2007, which increased the Company's free float to 70%, and led to an improvement in stock liquidity. As part of this placement, ThromboGenics issued 2,214,030 new shares raising a total of EUR23.9m. These new funds have strengthened ThromboGenics financial position, and have allowed it to continue to advance its product pipeline and strengthen its operations. The Company's cash position amounted to EUR46.1m as of 31 December 2007.
- Achievement of key milestones with microplasmin for ophthalmic indications. Initiation of a Phase IIb clinical trial of microplasmin in vitrectomy (MIVI III - Microplasmin for Vitreous Injection) in the United States, as well as the initiation of two Phase IIa clinical trials of microplasmin in Europe, for vitreomacular traction and diabetic macular edema (MIVI IIT and MIVI II, respectively). Positive results from the Phase I MIVI I and the MIVI IIT were presented at two international ophthalmology conferences.
- Positive Phase I results with TB-402 (anti-factor VIII), in collaboration with BioInvent International. TB-402 is being developed as a long acting anti-coagulant for the treatment and prevention of deep vein thrombosis (DVT) and atrial fibrillation. The product will enter Phase II clinical studies by the end of 2008.
- Exciting pre-clinical results with TB-403 (anti-PIGF) were published
in Cell as the featured article in the November 2, 2007 issue. The paper
highlighted that antibodies against PIG
|SOURCE ThromboGenics NV|
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