Eurocine Vaccines AB (”Eurocine Vaccines”) herby publishes the interim report for the first quarter of 2020/2021. Below is a brief summary of the interim report. The interim report is available at Euroccine Vaccines website (www.eurocine-vaccines.com/) and as an attachment.
2020-07-01 – 2020-09-30 (first quarter)
- Result after tax during the first quarter amounted to -3,2 m SEK (-1,8 m SEK)
- Revenues during the first quarter amounted to 158,000 SEK (0,0 m SEK )
- Earnings per share the first quarter -0,004 SEK (-0,009 kr)
CEO Hans Arwidsson comments:
”I would like to begin by thanking all shareholders and investors for the past quarter. Despite a worldwide pandemic, Eurocine Vaccines maintained a high level of delivery during the first quarter of 2020/2021 and took important steps to increase our value creation. Among other things, by signing an agreement with Spixia Biotechnology in August that enables the development and commercialization of our vaccine candidate against chlamydia. The agreement highlights our strong belief in the product candidate and has led to an intensification of our work in the project.
Covid-19 has, for natural reasons, created an enormous demand for expertise in the vaccine area, and despite the challenges it could entail for us, the company’s operations have not been affected to any great extent.
At “Testa Center” in Uppsala, a test facility for biologicals, adaptation is underway for industrial production of the active vaccine component, with a focus on developing the processes prior to transferring to a selected contract developer. The process of choosing the right contract developer has been successful. Over the past year, we have evaluated several different contract developers and are conducting final negotiations with two candidates. Our decision is expected to be taken by the turn of the year. Together with the selected contract developer, Eurocine Vaccines plans to scale up production of study products before toxicological and clinical studies, respectively, further strengthening the company’s market position. In November, another preclinical study starts, the results from which will give us more knowledge about doses and vaccination schedules. Results will be available during the first quarter of 2021.
In parallel with all this, we have ongoing international contacts with vaccine experts around the world. We actively participate in partnering meetings and have during autumn participated in four virtual partnering conferences, most significant the Biologics World Nordic and the Annual Vaccine World Asia Congress. After the end of the first quarter, three more meetings are booked for 2020, and more are planned for spring 2021. Increasing our contact areas with the surrounding world is pivotal to the Company as we continue to work with the market and potential partners to expand our portfolio with additional promising product candidates. Eurocine Vaccines´ goal is to create a development portfolio with a continuous flow of vaccine candidates in different phases, with major market potential and which meet important health needs. During autumn, we have intensified the build-up of our portfolio and initiated several early discussions about promising vaccines.
In conclusion, I would like to thank all colleagues for their valuable efforts in developing our project portfolio during the first quarter. I look forward with great confidence to the exciting time ahead, and in leading the work of developing the company’s portfolio and realizing Eurocine Vaccines’ underlying values”, says CEO Hans Arwidsson.
Highlights during the period
Eurocine Vaccines has started a vaccine project with researchers at Örebro University which has 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.
Eurocine Vaccines has entered into an agreement with Spixia Biotechnology on the development and commercialization of chlamydia vaccine
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 antigens developed by Spixia Biotechnology.