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ThromboGenics Announces Business Update and 2008 Full Year Results
Date:3/12/2009

udy in late stage cancer patients. The first Phase l study with TB-403 showed that it was well tolerated, with a pharmacokinetic profile which would allow it to be developed as a treatment for cancer. TB-403 is currently in a Phase Ib trial which studies its tolerability, pharmacokinetics and pharmacodynamics in patients with advanced cancer.

Corporate highlights

Major partnering deal: In June 2008, ThromboGenics and its co-development partner BioInvent signed a strategic alliance deal with Roche for its novel anti-cancer agent, TB-403 (anti-PIGF). Under the terms of the agreement ThromboGenics and BioInvent shared 60/40, an upfront payment of EUR50 million and could potentially share up to EUR450 million in milestone payments as well as double digit royalties on the same basis. TB-403 is being developed as an anti-cancer agent, and is currently in a Phase Ib clinical trial. TB-403 acts selectively by inhibiting the growth of new blood vessels in cancer tissue but not in normal tissue.

    Financial Highlights

    - In 2008, ThromboGenics revenue amounted to EUR30.4 million.
      This much higher level of revenue is due to Roche's upfront payment
      Following the signed deal on TB-403. Operating expenses for the full
      year were EUR19.2 million, the vast majority of which were due to R&D
      expenses related to the Company's clinical development programs. The
      net profit over the reported period amounts to EUR 12.1 million against
      a loss of EUR16.0 million over the full year 2007.

    - The Company expects to see an increase in its operating
      expenses in 2009 as it invests in the Phase III clinical program for
      microplasmin in back of the eye disease. This program began in January
      2009.

    - As of 31 December 2008, ThromboGenics had EUR58.9 million in
      cash and investments, including EUR28.6 million in short term, near
      liquid investments. Thi
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SOURCE ThromboGenics NV
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Related biology technology :

1. ThromboGenics and BioInvent Start Phase II Trial of TB-402, a Novel, Long Acting Anticoagulant for Deep Vein Thrombosis (DVT) Prophylaxis
2. ThromboGenics N.V.: Business Update
3. ThromboGenics Announces Half Year Results 2008
4. ThromboGenics Appoints Dr. Patrik De Haes as Chief Executive Officer
5. ThromboGenics Announces Private Investors Acquire 8% Stake in the Company
6. ThromboGenics and BioInvent Announce a Strategic Alliance With Roche for TB-403, a Novel Anti-Cancer Antibody
7. ThromboGenics N.V. - Business Update
8. ThromboGenics Completes Patient Enrolment of MITI IV Trial, a Phase II Study Evaluating the Safety and Preliminary Efficacy of Microplasmin in the Treatment of Acute Stroke
9. ThromboGenics Announces 2007 Full Year Results
10. ThromboGenics and BioInvent Receive Approval to Begin Clinical Trials of TB-403 for the Treatment of Cancer
11. ThromboGenics Presents Results of the Phase I Trial of TB-402 at the Prestigious American Society of Hematology Annual Meeting
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