Oxurion Receives EUR 1.0 Million under Amended Atlas Funding Program Total of EUR 3.5 Million in Unconditional Funding Allowing Company to Reach Topline Data from KALAHARI Trial This Year
16 Novembro 2023 - 3:00PM
Oxurion Receives EUR 1.0 Million under Amended Atlas Funding
Program Total of EUR 3.5 Million in Unconditional Funding
Allowing Company to Reach Topline Data from KALAHARI Trial This
Year
Leuven, BELGIUM, Boston, MA, US –
November 16, 2023 – 7 pm CET – Oxurion NV (Euronext
Brussels: OXUR), a biopharmaceutical company developing
next-generation standard of care ophthalmic therapies, with
clinical stage assets in vascular retinal disorders, announced
today that it has received EUR 1.0 million in funding under the
Subscription Agreement with Atlas Special Opportunities LLC
(“Atlas”).
This is the third installment of the EUR 3.5
million in unconditional funding agreed with Atlas allowing the
Company to reach the topline data of the Phase 2, Part B of the
KALAHARI trial, expected by the end of this year.
Under the terms of the amended Subscription
Agreement, Atlas has waived the market capitalization and liquidity
conditions for up to EUR 3.5 million in mandatorily convertible
bonds to be issued before the topline data is received by the end
of 2023.
Under the Funding Program, Atlas has committed
to up to EUR 20 million in funding over a 24-month period, of which
it has now subscribed to EUR 11.5 million, leaving a
remainder of EUR 8.5 million.
Tom Graney, CEO of Oxurion,
said: “We are very focused right now on reaching the key
catalyst of reporting the topline data from the KALAHARI trial
this year. With the sustained support from Atlas, we expect to
achieve that milestone without the need for additional capital. The
KALAHARI trial is evaluating Oxurion’s THR-149 versus
market leader aflibercept, and Oxurion hopes to demonstrate
the superior efficacy of THR-149 in treating the up to 50% of
patients with diabetic macular edema (DME) for whom the
current standard of care is suboptimal. DME is a large unmet need,
because it remains the leading cause of blindness for working-aged
people; we believe that THR-149 holds the promise of providing a
much-needed alternative for the millions of patients worldwide for
whom the current standard of care is suboptimal. We look forward to
sharing the KALAHARI topline results this year.”
About Oxurion
Oxurion (Euronext Brussels: OXUR) is a
biopharmaceutical company developing next generation standard of
care ophthalmic therapies, which are designed to improve and better
preserve vision in patients with retinal disorders including
diabetic macular edema (DME), the leading cause of vision loss in
working-age people, as well as other conditions. Oxurion intends to
play an important role in the treatment of retinal disorders,
including the successful development of THR-149, its novel
therapeutic for the treatment of DME. THR-149 is a potent plasma
kallikrein inhibitor being developed as a potential new standard of
care for the up to 50% of DME patients showing suboptimal response
to anti-VEGF therapy. Oxurion is headquartered in Leuven, Belgium,
with corporate operations in Boston, MA. More information is
available at www.oxurion.com.
Important information about
forward-looking statements
Certain statements in this press release may be
considered “forward-looking”. Such forward-looking statements are
based on current expectations, and, accordingly, entail and are
influenced by various risks and uncertainties. The Company
therefore cannot provide any assurance that such forward-looking
statements will materialize and does not assume any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events, or any other reason. Additional
information concerning risks and uncertainties affecting the
business and other factors that could cause actual results to
differ materially from any forward-looking statement is contained
in the Company’s Annual Report. This press release does not
constitute an offer or invitation for the sale or purchase of
securities or assets of Oxurion in any jurisdiction. No securities
of Oxurion may be offered or sold within the United States without
registration under the U.S. Securities Act of 1933, as amended, or
in compliance with an exemption therefrom, and in accordance with
any applicable U.S. state securities laws.
For further information please
contact:
Oxurion NVTom GraneyChief Executive OfficerTel: +32 16 75 13
10tom.graney@oxurion.com Michael DillenChief Business
OfficerTel: +32 16 75 13 10michael.dillen@oxurion.com |
US Conway CommunicationsMary T.
Conwaymtconway@conwaycommsir.com |
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