LYON, France--(BUSINESS WIRE)-- POXEL SA (Euronext – POXEL - FR0012432516), a biopharmaceutical company focused on the development of innovative treatments for metabolic disorders, including type 2 diabetes, announced today its cash position for the third quarter of 2017. As of September 30, 2017, cash and cash equivalents were €30.0 million (U.S.$35.4 million).
As expected, Poxel did not generate significant revenues in the third quarter of 2017, in line with the Company’s forecasts and its growth strategy, which is focused on the clinical development of its drug candidates, including Imeglimin and PXL770.
“We are looking forward to initiating the Phase 3 program for Imeglimin in Japan during the fourth quarter of this year. Japan is a key focus and an integral part of our business strategy and we believe that Imeglimin’s unique profile could be very attractive given the specific needs of this important marketplace and the pathophysiology of Japanese patients,” said Thomas Kuhn, CEO of Poxel. “For our second program, PXL770, we initiated the Phase 1b multiple ascending dose study during the third quarter. We believe that PXL770 could have the potential to treat several chronic metabolic diseases, including those that affect the liver as well as diabetes and diabetes-related complications. We are currently evaluating potential indications for our clinical proof-of-concept program, which we plan to initiate in 2018.”
Imeglimin has completed Phase 1 and Phase 2 development for the treatment of type 2 diabetes in the U.S., EU and Japan in over 1,200 subjects. PXL770, a first-in-class direct AMPK activator, which plays a key role as a master regulator of cellular energy, is in Phase 1 clinical development.
Next planned financial press release: January 22, 2018
Imeglimin is the first clinical candidate in a new chemical class of oral agents called the Glimins. Imeglimin has a unique mechanism of action (“MOA”) that targets mitochondrial bioenergetics. Imeglimin acts on the three main target organs involved in glucose homeostasis: the liver, muscle, and the pancreas. This MOA has the potential for glucose lowering benefits, as well as the potential to prevent endothelial and diastolic dysfunction, which can provide protective effects on micro- and macro-vascular defects induced by diabetes. The additional protective effect on beta-cell survival and function may lead to a delay in disease progression. This unique MOA compared to existing treatments for type 2 diabetes makes Imeglimin a prime candidate in all stages of the current anti-diabetic treatment paradigm, including monotherapy or as an add-on to other glucose lowering therapies for the treatment of patients with type 2 diabetes.
PXL770 is a first-in-class direct adenosine monophosphate-activated protein kinase (“AMPK”) activator. AMPK is a central regulator of multiple metabolic pathways leading to the control of lipid metabolism, glucose homeostasis and inflammation. Based on this central role, targeting AMPK offers the opportunity to pursue a wide range of indications to treat chronic metabolic diseases, including diseases that affect the liver, such as non-alcoholic steatohepatisis (“NASH”), as well as type 2 diabetes and diabetes-related complications, such as diabetic nephropathy.
About Poxel SA
Poxel uses its development expertise in metabolism to advance a pipeline of drug candidates focused on the treatment of metabolic disorders, including type 2 diabetes. We have successfully completed our Phase 2 clinical program for our first-in-class lead product, Imeglimin, which targets mitochondrial dysfunction, in the U.S., EU and Japan. Our second program, PXL770, a direct AMPK activator, is in Phase 1 development. We intend to generate further growth through strategic partnerships and pipeline development. (Euronext: POXEL, www.poxel.com)
Jonae R. Barnes, +1 617-818-2985
Senior Vice President, Investor Relations and Public Relations
Investor relations / Media - EU/US
MacDougall Biomedical Communications
Gretchen Schweitzer or Stephanie May, +49 89 2424 3494 or +49 175 571 1562
Investor relations / Media - France
Florent Alba/Nicolas Mérigeau, +33 1 44 71 98 55
Source: Poxel SA
Released October 16, 2017