(AOF) – Abivax rose nearly 6% to EUR 23.35, bolstered by confirmation of ABX464’s potential in ulcerative colitis. Last night, the biotech with a market cap of nearly $400 million announced excellent efficacy and tolerability results after a year of treatment in the phase 2b maintenance trial of ABX464 in ulcerative colitis. “The final preparations for the international Phase 3 clinical program with ABX464 in UC are underway, with the first patient enrollment scheduled for Q3 2022,” the company says.
Following favorable feedback from the FDA and EMA, the company is continuing its final preparations for the Phase 3 program for this indication. Submission of final study protocols is expected in Q1 2022, with Abivax now anticipating initial patient enrollment in Q3 2022.
The group took advantage of this announcement to unveil on April 1, 2022, the acquisition of Prosynergia SARL, a Luxembourg biotechnology company, for an amount of EUR 3.25 million, to strengthen Abivax’s development portfolio. The terms of the transaction also include possible additional payments (“earn-out”) for a maximum amount of EUR 4 million, depending on the possible evolution of the market capitalization of Abivax.
At the end of March, the group assured that its operating activities were fully funded until the end of the third quarter of 2022, taking into account the start of the phase 3 study.
Abivax said it continued to evaluate several options to expand its cash flow, with the goal of funding its pivotal Phase 3 program and then commercializing ABX464 for the treatment of UC, as well as potentially for other potential indications.
This review includes a potential partnership with a pharmaceutical company, as well as dilutive and/or non-dilutive financing options, with the aim of maximizing value for our shareholders.
AOF – MORE INFORMATION
Boost for French pharmacy
At the end of a recent CSIS, the French authorities announced an amount of credit (7 billion euros) that had never been reached: 1.5 billion for hospital-university research, 2 billion for investment in health through bpi france, 1.5 billion support for the relocation of industrial projects and 2 billion to strengthen investment in three sectors of the future (bioproduction, digital medicine and pandemic preparedness). In addition, annual growth in Medicare-reimbursed drug expenditure will be 2.4%, which should provide at least 0.5% growth in lab revenue,
Above all, if the medical benefit is sufficient, the normal drug marketing procedure will be accelerated (saved up to 500 days).