LYON, France--(BUSINESS WIRE)-- Regulatory News:
POXEL SA (Paris:POXEL) (Euronext – POXEL - FR0012432516), a biopharmaceutical company focused on the development of innovative drugs to treat type 2 diabetes, today announced its cash position and its turnover for the fiscal year 2015.
As of December 31st, 2015, the cash and cash equivalents amounted to €42.4 million* compared to €10.3 million on December 31st, 2014.
The 2015 revenues resulting from collaboration, licensing and other agreements amounted €60,000.
These figures are consistent with the Company’s expectations and its growth strategy, which remains focused on the clinical development of its diabetes drug candidates Imeglimin and PXL770.
Next financial press release: Year Full-Year Financial Statement, March 31st, 2015
Poxel uses its unique development expertise in metabolism to advance a pipeline of truly novel products currently focused on type 2 diabetes. Our first-in-class lead product, Imeglimin, targeting mitochondrial dysfunction, has successfully completed Phase 2 development in the US and EU and has entered clinical development in Japan. We are advancing our second program, PXL770, a direct AMPK activator, through clinical proof-of-concept. We will generate further growth through strategic partnerships and pipeline development. (Euronext: POXEL, www.poxel.com)
Investor relations / Media - EU/US
MacDougall Biomedical Communications
Gretchen Schweitzer or Stephanie May, + 49 89 2424 3494 or + 49 172 861 8540
Investor relations / Media - France
Florent Alba/Nicolas Mérigeau
+ 33 1 44 71 98 55
Released January 28, 2016