Eurocine Vaccines publishes half-year report for July-December 2020

Eurocine Vaccines AB (“Eurocine Vaccines”) hereby publishes an interim report for the first half year of 2020. Below is a summary of the report. The full report is available on the Euroccine Vaccines website (https://www.eurocine-vaccines.com/) and as an attachment.

Eurocine Vaccines´ half year report July-December 2020

2020-07-01– 2020-12-31 (first half year)

  • Result after tax during the first half year amounted to -7,6 MSEK (-4,7 MSEK)
  • Revenues during the half year amounted to 0,4 MSEK (0 MSEK)
  • Earnings per share the half year -0,01 SEK (-0,03 SEK)

CEO Hans Arwidsson comments

“It has been an incredibly exciting period for Eurocine Vaccines and we have managed to close very important agreements. After dialogues with – and rigorous analyzes of – potential contract developers for our vaccine candidate against chlamydia, we finally selected Biovian Oy, a prominent company based in Turku, Finland. Biovan is an internationally recognized contract developer and manufacturer with a GMP facility and will develop an industrial manufacturing method for Eurocine Vaccines´ future studies, such as toxicological and clinical studies. This is a message of strength from us and involves both a mutual knowledge transfer between us and Biovian, while at the same time emphasizing Eurocine Vaccines´ role in the development of new biological drugs. In addition, the collaboration means that we will be able to deliver results according to an improved time plan.

Another gratifying achievement was the agreement we entered into with Spixia Biotechnology, on the development and commercialization of chlamydia vaccines. We have collaborated on chlamydia vaccines since April 2019 and have conducted two successful preclinical studies. The agreement gives Eurocine Vaccines the exclusive right to develop, manufacture and commercialize vaccine candidates against chlamydia based on vaccine antigens invented by Spixia Biotechnology.

During the period, we also signed a new evaluation agreement with a prominent regional veterinary company. The agreement, a so-called MTA, Material Transfer Agreement, regulates the conditions for evaluating the vaccine technology Endocine™ in a veterinary vaccine. The agreement runs for two years and involves our supply of Endocine™ for the evaluation, while the counterpart bears all other costs. The evaluation agreement confirms the broad market interest in our vaccine technology and gives us increased visibility in the veterinary vaccines market, which has a very interesting potential in an international perspective and thus can be a significant complement to the human vaccines, which is our main focus.

In addition to the operational work, favorable changes are taking place in parts of the Company’s infrastructure. We are currently getting a new website – the website is under reconstruction to create a platform that more clearly reflects our strategies. In addition, in January 2021, Eurocine Vaccines moved to new, purposeful premises with advantageous access to both common laboratory premises and instruments as well as our own laboratory space, enabling us to evaluate new vaccine candidates more quickly. It is a welcome event in the Company that simplifies our work with selecting and developing vaccine candidates.

As always, we have ongoing contacts with vaccine experts around the world. We have a strong presence at partnering conferences and regularly present the Company to investors and other stakeholders. During the period, we participated in a total of eight virtual partnering conferences, where we initiated new and developed existing valuable contacts within the vaccine companies, which led to an invitation to present our company, the vaccine candidate against chlamydia and Endocine ™ for top names in Big Pharma, among other things. We also presented for interested investors at Aktiedagen Stockholm and Aktieportföljen Live.

It has been a stimulating and eventful half year for Eurocine Vaccines with many successes. I would therefore like to take this opportunity to thank the existing shareholders for their continued support, our competent and dedicated colleagues, and a strong board for their hard work. We are now putting in a new and higher gear to continue to develop and realize Eurocine Vaccines´ full revenue potential.”

Highlights during the period

Eurocine Vaccines entered into an agreement with Spixia Biotechnology on the development and commercialization of chlamydia vaccines

The agreement follows the terms communicated in May 2020, which gives Eurocine Vaccines the exclusive right to develop, manufacture and commercialize chlamydia vaccine candidates based on vaccine antigen developed by Spixia Biotechnology.

Eurocine Vaccines brought forward the development of commercial manufacturing method and updated the time plan

In connection with the procurement of a contract manufacturer for the active protein in the chlamydia vaccine candidate, Eurocine Vaccines decided to develop a manufacturing method that is suitable for the manufacture of vaccines on an industrial scale at this stage. In connection with the decision, the Company has updated the time plan.

Eurocine Vaccines selected Biovian as the contract developer for the chlamydia vaccine candidate

Eurocine Vaccines announced that the Company has selected Biovian Oy, Turku, Finland, (“Biovian”) as the contract developer for the Company’s vaccine candidate against chlamydia. Biovian, an internationally recognized contract developer and manufacturer with a GMP facility, will develop an industrial manufacturing method and manufacture study products for Eurocine Vaccines´ future studies, such as toxicological and clinical studies.

Eurocine Vaccines signed an evaluation agreement to evaluate Endocine™ in the veterinary field

The agreement was signed with a prominent regional veterinary company. The agreement, which is a so-called MTA, Material Transfer Agreement, runs for two years and the evaluation will be carried out on one or two animal species. Eurocine Vaccines provides Endocine™ while the counterparty bears all other costs for the evaluation.

Eurocine Vaccines has started a vaccine project with researchers at Örebro University who have been granted funding by The Knowledge Foundation in Sweden

Eurocine Vaccines has started a project that includes studies on e.g. TBE, other flaviviruses, and HIV, as well as tests in combination with substances that enhance the effect of vaccines, so-called adjuvants. The project is led by Magnus Johansson, professor of biomedicine, and has been granted over SEK 14 million by The Knowledge Foundation’s Synergy Program.

Formue Nord sold its shareholding in the company

Formue Nord’s previous holding of 9.71 percent of the votes and capital in Eurocine Vaccines, which was received as a result of their guarantee commitment in connection with the option redemption in June 2020, was sold.

The Annual General Meeting on 15 December resolved to merge shares in Eurocine Vaccines

The Annual General Meeting of Eurocine Vaccines AB resolved in accordance with the proposed resolutions, among other things, to implement the amalgamation of shares 1: 100, i.e. one hundred (100) shares will be merged into one (1) new share. The Board of Directors decided on 5 January, with the support of the Annual General Meeting’s authorization, that the record date would be 11 January 2021.

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