Clinical program for the antibiotic candidate DNV3837 continues, with the support of investigators in the United States
AGIR program (Antibiotics against Resistant Infectious Germs): reaching second key milestone generated the payment of €1.5M by Bpifrance
Launch of two novel next-generation active substances, including the first extract developed with Hallstar and derived from the fermentation of a Deinove microorganism
Consolidated net income: -€4.6M compared to -€5.4M in H1 2019
Group cash position:
○ Balance of +€3.2M at June 30, 2020 compared to +€1.1M at December 31, 2019
○ €2M to be received in October: loans granted by Bpifrance (R&D innovation loan) and Société Générale (State guaranteed loan)
DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company, pioneer in the exploration and exploitation of bacterial biodiversity to address the urgent, global challenge of antibiotic resistance and the need for next-generation active ingredients serving Health, announces that its Board of Directors has approved the financial statements for the first half of 2020.
Charles Woler, Chairman and Chief Executive Officer of DEINOVE, stated: "In the uncertain health and economic context that characterizes 2020, DEINOVE was able to stay the course. Our financial position has improved, and our operating loss has been reduced.
At the same time, we continued our efforts to advance the programs, including the DNV3837 clinical trial, which continued recruiting patients with the support of the investigating physicians, despite the health situation in the United States. Our upstream research programs (AGIR) have also advanced, with completion of the second key milestone, and we continue our efforts to provide the industry with new active substances.
Now led by Alexis RIDEAU, our team is resolutely pursuing its activities with three clear objectives: strengthen the company’s presence in the pharmaceutical sector, generate revenues through strategic partnerships in the biotechnology sector, excel in project management in order to control all of our expenses and maintain financial flexibility."