Phase II of the antibiotic candidate DNV3837 ongoing – end of the first part of the trial (DSMB) expected mid-2021
Signature of an Evaluation and Technology Development license with DSM on a non-therapeutic active substance
Management evolution: two experienced profiles have joined DEINOVE to strengthen the business development and strategic partnerships activities
Group net income 2020 of -€7.3M compared to -€10.2M in 2019, mainly thanks to lower operating expenses
○ Restructuring of operations with a 30% decrease in operating expenses (€9.0M vs. €12.8M in 2019), still 80% dedicated to R&D
Group cash position:
○ Balance of +€2.9M at December 31, 2020, compared to +€1.1M at 31 December 31, 2019
○ On January 20, 2021, the 5th tranche of OCA was subscribed by the ESGO Fund, for an amount of €3M
DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company, pioneer in the exploration and exploitation of bacterial biodiversity to address the urgent, global challenge of antibiotic resistance, announces that its Board of Directors has approved the consolidated financial statements for the year 2020.
“The Board of Directors and I renewed our confidence in Alexis RIDEAU, by appointing him CEO of DEINOVE at the beginning of 2021. The transformations he has led with the management team have already streamlined operational expenses and will position DEINOVE at the forefront of the exploration and exploitation of microbial dark matter, to become a major player in the generation of new antimicrobials”, says Dr. Charles WOLER, Chairman of DEINOVE’s Board of Directors. “We were delighted to announce that DEINOVE has received support from the French government as part of the “France Relance” plan, to set up a platform for screening bacteria at very high throughput based on breakthrough technology, droplet-based microfluidics. The goal is to be operational by the end of 2021. This new technology will dramatically increase the platform’s current performance, while reducing its costs.”
“We have strengthened our team with the arrival of a new CFO, Mario ALCARAZ, who has successfully restructured the operational expenses necessary to sustain the platform. At the beginning of 2021, the Business Development team was strengthened with the arrival of Hervé ANSANAY, as Director, and Corentin CHABOUD, to the new position of Grant Officer. Both of these hires are strategic to intensify the establishment of new partnerships, such as the one signed with the Dutch company DSM, as well as to access non-dilutive funding to support the development of new antimicrobials”, adds Alexis RIDEAU, CEO of DEINOVE.
DEINOVE will organize a webinar for its shareholders on May 4, 2021 at 5:30 pm
to make an update on its activity and perspective and in order to prepare its upcoming Annual General Meeting (to be held on May 27, probably in closed session due to the pandemic)
To sign up for the May 4 webinar (to be held in French) please follow this link