ThromboGenics Announces 2007 Full Ye... (F such as TB-403 can selectivelyinhibit ...)

ThromboGenics Announces 2007 Full Year Results

Date:3/13/2008

F, such as TB-403, can selectively inhibit tumor growth by blocking its blood supply without affecting normal tissues. TB-403 is now in Phase I development.

- ThromboGenics may enter into partnerships or license agreements to commercialize its products and this preferably after Phase II.

Financial Summary

- In 2007, revenue amounted to EUR1.5m, mainly coming from out-licensing. Operating expenses were EUR20.0m in 2007, the majority of which were due to R&D expenses related to our increasing number of clinical development programs. The net loss for the year was EUR16.0m.

- As of 31 December 2007, ThromboGenics had EUR46.1m in cash and cash equivalents. This compared to EUR32.04m on 31 December, 2006, and results from the fundraising that the Company completed in May 2007.

- The Group streamlined its organization with the absorption of the fully owned subsidiary Thromb-X.

Prof Desire Collen, CEO of ThromboGenics, commenting on today's announcement, said: "I am very pleased with what we have achieved during the course of 2007, particularly the successful fund raising we completed in May, which broadened our shareholder base. The additional funds raised will allow us to advance our exciting clinical development portfolio, which is progressing as planned. I am also very happy with the encouraging results that we have obtained with microplasmin in clinical trials targeting "back of the eye" diseases. These results further strengthen our belief that this product will be of great value to the ophthalmic community. In addition, we have made good progress with our earlier programs, including anti-PlGF (TB-403), where our Cell paper generated significant interest in this exciting new approach for cancer therapy, and which progressed to Phase I."

The full financial results statement can be found at http://www.thrombogenics.com

About ThromboGenics

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