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The European Patent Office (EPO) is expected to approve Cyxone's cyclotide patent application, on which the company is basing its multiple sclerosis development project, at the beginning of next year. This will enable the company to subsequently select the European countries where this application will be validated and local patents can then be issued.
Cyxone AB (publ)
Kjell G. Stenberg, CEO
211 22 Malmö
Cyxone AB (publ) är ett biomedicinskt bolag som utvecklar läkemedel baserat på en typ av naturliga växtproteiner, s.k. cyklotider. Cyklotidteknologin har förutsättningar att kunna ge nya läkemedel med fördelaktiga farmakologiska effekter på sjukdomar som idag saknar effektiva och säkra behandlingar. Bolaget fokuserar på utvecklingen av substanser som hämmar nyckelprocesser i kroppens celler som är typiska för olika immunsjukdomar som t ex multipel skleros och ledgångsreumatism. Cyxones Certified Adviser på Nasdaq First North är Erik Penser Bank som nås på telefon 08-4638000.
As previously announced, Cyxone acquired Rabeximod from OxyPharma in June 2017. Rabeximod has undergone Phase 2 trials in patients with moderate to severe rheumatoid arthritis in which significant improvements in the condition's symptoms were discovered four weeks after the completion of the formal (12 week) trial period.
Cyxone has analysed the Rabeximod that was previously manufactured by OxyPharma for clinical trials at Syntagon AB. Results show that the existing substance, despite having been stored for several years, can be used in Cyxone's upcoming Phase 2b study in patients with rheumatoid arthritis.
Period (July 1 to September 30, 2017)
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -1,518 (-1,235)
- Earnings per share SEK -0,10 (-0,10) Cash and cash equivalents as of September 30 KSEK 25,662 (23,468)
- Equity ratio as of September 30 95.2% (97.7%)
Period (January 1 to September 30)
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -5,593 (-2,860)
- Earnings per share SEK -0,36 (-0,22)
In collaboration with the Medical University of Vienna, Cyxone is set to conduct a study into inflammatory bowel disease involving a cyclotide in established animal models. The study will begin early in 2018.
Cyxone has licensed patent applications at various stages of approval in Europe, North America and Australia. In the US, our patent is approved and in other markets patent applications are well on the way to being approved. In Australia, our patent application was accepted in July, since when the company has submitted a final version and paid the required approval fee.
Due to the interview conducted with Cyxone's CEO by BioStock/Monocl on Thursday, September 28, the company wishes to clarify references made about the extent to which two Phase 2 trials may be equated with a Phase 3 trial.
The subscription period to purchase warrants in TO 2 ended on September 29, 2017, and during the period, 2,467,119 warrant options were exercised for the equivalent number of shares, corresponding to a subscription ratio of around 98.7%. Cyxone thereby receives some SEK 12.3 million before issue costs.