Regulatory News:

ONCODESIGN (Paris:ALONC), a biotechnology company serving the pharmaceutical industry in the discovery of new therapeutic molecules to fight cancer and other serious illnesses with no known effective treatment, today announces its annual revenue and cash position at December 31, 2014.

€ millions – unaudited data   2014   2013   Δ
Experimentation revenue   6.12   6.02   +1.8%
Discovery revenue   1.06   1.32   -20.0%
Total revenue 7.18 7.34 -2.2%
Other operating revenue   -   -    
Total operating revenue 7.18 7.34 -2.2%
Cash position   10.2   1.1    

Experimentation: record level of new orders

In 2014, Experimentation revenue was up +1.8% on the previous year. The growth recorded in Northern Europe (+12%) and Asia helped offset the scheduled ending of two contracts.

In terms of orders, 2014 saw an +11% increase in confirmed orders, thus representing €7.4 million, which was a new record high. The arrival of a new sales representative in North America in July 2014 notably helped to double the number of new orders in this region.

The Company is thus beginning 2015 with an order book of studies to be carried out worth approximately €3.5 million, up +60% compared with the figure at December 31, 2013.

Discovery: acceleration in in-house Discovery programs

In 2014, revenue from research partnerships, notably with IPSEN, Sanofi and UCB, totaled €1.06 million, compared with €1.32 million in 2013. These sums correspond to the reimbursement of the R&D costs paid by Oncodesign on discovery projects developed within the framework of these partnerships.

The Company did not receive any milestone payments in 2014. Certain decisions are expected in 2015.

Concerning the Discovery programs that Oncodesign is carrying out in-house on TGFbR2, SIK2 and RIP2 kinase inhibitors, the means allocated to these programs have been intensified, in accordance with the objectives announced at the time of the Company’s IPO in March 2014. In the field of inflammatory diseases, the RIP2 program is thus ready to be licensed out to a pharmaceutical partner.

Net cash position of €10.2 million, following annual cash burn of €2.0 million

At December 31, 2014, Oncodesign had a net cash position of €10.2 million. In 2014, cash burn was €2.0 million, excluding the costs associated with the IPO, up €0.5 million over the second half of 2014 because of the intensification and increase in R&D spending on Discovery projects in Oncology.

“On the Experimentation segment, the slowdown observed over the second half of the year in terms of revenue should not overshadow the solid dynamic of our new orders, notably in Northern Europe, in Asia and in the United States, where we are continuing to roll out our sales development. We thus began 2015 with an order book that is 60% higher than it was last year. On the Discovery segment, last year’s IPO provided us with the means to accelerate the development of new kinase inhibitors. RIP2 is now ready to be licensed out to a partner, and we are confident regarding the progression of certain decisions by our strategic partners in 2015”, says Philippe Genne, CEO and founder of Oncodesign.

Next release: 2014 annual results, on Tuesday March 31, 2015 (after market)

About ONCODESIGN: www.oncodesign.com

Founded 19 years ago by Dr. Philippe Genne, the Company’s CEO and majority shareholder, ONCODESIGN is a biotechnology company that maximizes the pharmaceutical industry’s chances of success in discovering new therapeutic molecules to fight cancer and other serious illnesses with no known efficient treatment. Backed by unique experience acquired through more than 500 clients, including the world’s largest pharmaceutical companies, and relying on a comprehensive technological platform combining state-of-the-art medicinal chemistry, advanced animal modeling and medical imaging, ONCODESIGN is able to predict and identify for every molecule, very upstream, its therapeutic use and its potential to become an efficient drug. Applied to kinase inhibitors, molecules that represent a market estimated at over 40 billion dollars in 2016 and accounting for almost 25% of the pharmaceutical industry’s R&D investments, ONCODESIGN’s technology has already enabled the targeting of 7 promising molecules with substantial therapeutic potential, in oncology and elsewhere, and the signing of partnerships, potentially worth €350 million in upfront payments should predefined milestones be reached, with pharmaceutical groups Sanofi, Ipsen and UCB. Based in Dijon, France, in the heart of the town’s university and hospital hub, ONCODESIGN has 74 staff.