ThromboGenics NV - Q3 2009 Busin...( LEUVEN Belgium November 4 /- Thro...)

LEUVEN, Belgium, November 4 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR), a biopharmaceutical company focused on innovative medicines for eye disease, vascular disease and cancer, is today issuing a business update for the period ending 30 September, 2009.

Patrik De Haes, CEO of ThromboGenics, said:

"ThromboGenics' clinical development programs have continued to make significant progress. We are very happy to have completed patient enrolment for the US Phase III study with microplasmin and recruitment in our second Phase III trial is continuing to make excellent progress. Microplasmin is central to our aim of building a successful integrated company focused on cutting edge ophthalmic medicines, that is positioned to deliver significant shareholder value.

We have also recently completed patient recruitment of a Phase II study with TB-402, assessing it as a DVT prophylactic in patients undergoing knee replacement, ahead of schedule. Our experience with TB-402 suggests that this long acting product has the potential to be an important new entrant into the anticoagulant market making it an attractive out-licensing opportunity. Our partnership with Roche for the novel anti-cancer antibody TB-403 continues to make good progress, with results from the Phase Ib trial to be presented later this month at the American Association for Cancer Research conference."

    Financial Update

    - ThromboGenics achieved revenues of EUR3.7 million in the
      third quarter of 2009, the majority of which came from out-licensing.
      R&D expenses were EUR12.6 million during this nine month period. In
      Addition EUR10.4 million of expenses related to the microplasmin Phase
      III clinical program have been capitalized over the first nine months
      of this year.
    - As of September 30, 2009, ThromboGenics had EUR43.1 million
      in cash and cash equivalents. This compares to 
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SOURCE  ThromboGenics NV
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