ThromboGenics N.V.: Business Update( LEUVEN Belgium November 6 /- Thro...)

LEUVEN, Belgium, November 6 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR), a biotechnology company focused on innovative treatments for eye disease, vascular disease and cancer, is today issuing a business update for the nine months period ended 30 September 2008.

Patrik De Haes, CEO of ThromboGenics, commenting on today's announcement, said: "ThromboGenics' clinical development programs continue to progress as anticipated. We are now working hard to prepare for the Phase III clinical program for microplasmin in eye disease following a successful End of Phase II Meeting with the FDA. The recent positive results from our Phase II trials with microplasmin have given us further confidence that this product has the potential to make a real difference in the field of eye disease. We are also developing a good working relationship with our strategic partner Roche as the clinical development of our new anti-cancer antibody TB-403 continues to progress. With our solid financial situation, I believe that ThromboGenics will deliver further important corporate milestones over the next 12 to 18 months as we continue to work to build value for our shareholders."
Financial Update

- In the first nine months of 2008, ThromboGenics achieved

revenues of EUR 30.3 million, mainly from out-licensing activities.

Operating expenses were EUR 17.0 million during this nine month period,

the majority of which were due to R&D expenses related to an increasing

number of clinical development programs.

- As of 30 September 2008, ThromboGenics had EUR 60.9 million

in cash and cash equivalents. This compares to EUR 50.6 million on 30

September 2007 and EUR 40.1 million on 31 December 2007. ThromboGenics

believes that this level of funding will allow it to complete the Phase

III program for the initial indication for microplasmin in eye disease.

- In late July, ThromboG
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