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ExpreS2ion Biotech Holding AB: Publication of financial report for January – September 2018

ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby publishes the financial report for the period of January – September 2018. The report is available as an attached document to this press release and on the Company’s website (www.expres2ionbio.com). Below is a summary of the report.

Q3 (2018-07-01 to 2018-09-30)

  • Group turnover amounted to 2,173 (2,048) KSEK.
  • Result after financial items amounted to -5,197 (-3,311) KSEK.
  • Net income amounted to -4,698 (-2,955) KSEK.
  • Net income per share* amounted to -0.39 (-0.33) SEK.

Nine months (2018-01-01 to 2018-09-30)

  • Group turnover amounted to 7,433 (7,972) KSEK.
  • Result after financial items amounted to -12,749 (-7,626) KSEK.
  • Net income amounted to -11,237 (-6,700) KSEK.
  • Net income per share* amounted to -0.99 (-0.76) SEK.
  • Cash flow from operating activities amounted to -9,690 (-5,990) KSEK
  • Equity ratio** amounted to 55.4 (47.6) %.
  • Cash and cash equivalents amounted to 9,758 (3,972) KSEK.

Numbers in parenthesis are the numbers from the same period in 2017.

*The Group’s net income per share: the net income for the period divided by 11,073,682, which is the average number of shares for the whole period. The average number of shares for the second quarter was 12,002,015. The total number of shares in ExpreS2ion Biotech Holding AB was 12,002,015 shares per 2018-09-30.

**Equity ratio: Shareholder’s equity divided by total capital.

Significant events during the third quarter 2018

  • On August 17, the Company announced that Bent U. Frandsen, currently VP of Business Development, has been appointed as Chief Business Officer (CBO). He will manage a proactive effort to substantially increase the customer base in the Company’s vaccine development and production services segment. Furthermore, ExpreS2ion has appointed Honeybadger AB (“Honeybadger”) as non-exclusive IR partner on the Swedish market.
  • On August 17, the Company announced that a scientific article on the production of a malaria vaccine candidate using the Company’s ExpreS2 platform was published in the journal npj Vaccines, a part of Nature Partner Journals Series. The article describes the production of the University of Oxford’s leading blood-stage malaria vaccine candidate RH5.1 in accordance with GMP using the ExpreS2 platform. The product met all criteria for sterility, purity and identity and the vaccine formulation was judged suitable for use in humans. RH5.1 is currently evaluated in a phase 1/2a clinical trial.
  • On September 6, the Company announced that the Research & Commercial License Agreement with U.S.-based partner and licensee Integrated BioTherapeutics, Inc. (“IBT”) had been amended to include the Company’s own ExpreS2-based products, initially a number of Zika virus antigens.
  • On September 10, the Company announced that its joint venture AdaptVac ApS (“AdaptVac”) has received a notice of allowance in the USA for its patent application covering its novel vaccine treatment for HER2-positive breast cancer. This means that the patent is expected to be issued shortly, which is an important step forward for the project and documenting the patentability of the virus-like-particle (VLP) technology platform.

Significant events after the end of the period

  • On October 3, the Company announced that a recently published scientific article in Nature Communications on the Pfs48/45 malaria vaccine candidate adds further evidence to support that the ExpreS2 platform is an excellent tool for producing transmission blocking malaria vaccines.
  • On October 31, the Company announced that The Jenner Institute of the University of Oxford presented positive results from its Phase I/IIa clinical studies with their RH5.1 blood-stage malaria vaccine at a scientific meeting in New Orleans. The vaccine, developed and manufactured using the ExpreS2 platform, was shown to be safe and it is the first vaccine to demonstrate a reduction in the parasite multiplication rate following a blood-stage controlled human malaria infection. This is a very important milestone in a longstanding collaboration with The Jenner institute of Oxford and as stated by Professor Dr. Simon Draper, Leader of The Jenner Institute’s Blood-Stage Malaria Vaccine Group, “The encouraging results from this RH5.1 Phase I/IIa malaria study are in line with our preclinical findings and form a solid foundation on which to build the next steps in our blood-stage malaria vaccine clinical programme. We are grateful to ExpreS2ion for providing the enabling ExpreS2 development and production platform, and their contribution to the project as a whole.”

Financial calendar

Year-end report, 2018 2019-02-28
Annual General Meeting, 2019  2019-05-23 

Certified Adviser

Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion Biotech Holding AB.

For further information about ExpreS2ion Biotech Holding AB, please contact:

Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
E-mail: sk@expres2ionbio.com

About ExpreS2ion

ExpreS2ion Biotechnologies ApS is the fully owned Danish subsidiary of Sweden-based ExpreS2ion Biotech Holding AB with company registration number 559033-3729. The subsidiary holds a unique proprietary platform, ExpreS2, made for fast and efficient development and robust production of complex proteins with focus on new vaccines, immune therapy and diagnostics. Since it was founded in 2010, the company has produced more than 250 proteins and 35 virus-like particles (VLPs) for and in collaboration with leading research institutions and companies, demonstrating superior efficiency and success rates. In addition, ExpreS2ion develops novel vaccines based on a ground-breaking VLP platform through its Danish joint venture AdaptVac ApS, founded in 2017.