29.04.2020
  • Significant achievements in antibiotic programs:
    • Initiation of the Phase II trial testing DNV3837 as first-line treatment for severe C. difficile gastrointestinal infections,
    • DNV3681, the active molecule of DNV3837, evaluated by the United States Army against anthrax,
    • The AGIR program reaches 2 key milestones in just one year.
  • Expansion of the cosmetics portfolio:
    • Completion of the development of two active ingredients and launches in early 2020: Luminity® (proprietary) and Biome Oléoactif® (with Hallstar France),
    • First revenues from collaborative agreements cashed in.
  • Group net loss for 2019: - €10.2m, compared with - €8.7m in 2018, mainly due to the progress of the DNV3837 clinical program.
  • Securing of financial resources by setting up financing through the issue of bonds convertible into new shares for a maximum nominal amount of €15m.
  • Consolidated cash position:
    • + 1.1m at December 31, 2019 vs + €3.9m at December 31, 2018,
    • + €3.0m as of March 31, 2020 following partial pre-funding of the 2019 R&D Tax Credit receivable for + €2.1m, and payment of + €1.5m from Bpifrance triggered by successful completion  of the 2nd milestone of the AGIR program,
    • Receipt of + €1.0m in early April, following the subscription of the 2nd Tranche of convertible bonds by ESGO Fund (L1 Capital).
  • Covid-19: all the necessary measures needed to protect the health and safety of employees have been put in place, the teams remain mobilized in order to move the projects forward and meet the timelines set.

 

DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company that uses a disruptive approach to develop innovative antibiotics and bio-based active ingredients for cosmetics and nutrition, announced today that its Board of Directors had approved the 2019 annual accounts.

Charles Woler, Chairman and CEO of DEINOVE, said: "The Covid-19 pandemic, affecting the entire planet, highlights the global challenge of infectious disease research. Beyond its immediate impact, this crisis is an additional motivation for all DEINOVE teams in the research and development of new antibiotics.

Our clinical trial regarding DNV3837, candidate in the treatment of gastrointestinal infections caused by C. difficile, is ongoing. The first patient was included in this Phase II trial in early 2020. At the same time, we are continuing to intensify our AGIR program for the discovery of new antibacterial compounds. In one year, we have completed the first two milestones of the project, funded in part by the French State Investments for the Future Program. Milestone 2 has resulted in the identification of around thirty “hits” (molecules that may be of interest).

In the cosmetics business, we continue to expand our portfolio by combining proprietary products, such as the new Luminity®, and collaborations with various players. Our partnership with Hallstar France (formerly Oléos) recently led to the launch of a first active ingredient, Biome Oléoactif®. Our proposed agreement with Sharon Laboratories has been interrupted by the current crisis, but we continue to work with several other major partners, some still confidential at this stage, all of whom are very interested in the DEINOVE platform, due to both our wide biodiversity and our technical expertise.

As 2020 begins in a context of global health, economic and social crisis, we are proud to have secured nearly €5 million, and our team is firmly pursuing its action with three clear objectives: to generate revenues through the cosmetics business, to advance the DNV3837 program towards a Phase III and a possible licensing agreement, and to strictly monitor our expenses to maintain financial flexibility. »