ThromboGenics N.V. - Business Update( LEUVEN Belgium May 13 /- - Reg...)

LEUVEN, Belgium, May 13 /PRNewswire-FirstCall/ --

- Regulated Information

ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on innovative treatments for vascular disease, eye disease and cancer, is today issuing a business update for the three month period ended 31 March 2008.

Prof. Desire Collen, CEO and Chairman of ThromboGenics, commenting on today's announcement, said: "ThromboGenics' clinical development programs are continuing to make the good progress that we had anticipated. During the first three months of 2008, we achieved a number of important clinical milestones that have clearly added further value to our exciting product pipeline. The positive results of our trials with microplasmin are giving us confidence that it has the potential to make a real difference in the field of eye disease. Our exciting new anti-cancer antibody TB-403 has also begun its clinical development. We anticipate seeing further encouraging results across our development pipeline during the remainder of 2008; a year in which we expect to advance ThromboGenics' business significantly."

Financial Update

- In the first quarter of 2008, revenue amounted to EUR 0.1 million, mainly coming from out-licensing. Operating expenses were EUR 3.2 million in the first quarter, the majority of which were due to R&D expenses related to our increasing number of clinical development programs.

- As of 31 March 2008, ThromboGenics had EUR 41.7 million in cash and cash equivalents. This compares to EUR 29.1 million on 31 March, 2007 and EUR 46.1 million on 31 December 2007.

Clinical Update

Highlights

- ThromboGenics completed patient enrolment for its Phase IIb MIVI III trial in the United States for microplasmin in vitrectomy.

Microplasmin is being developed as an adjunct for vitrectomy. A vitrectomy is an increasingly common surgical procedure which is carried out in the treatment of many back of the
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