Highlight on the New Strategic and Financial Plans
Leuven, BELGIUM, 5 February 2024 7AM CET - Oxurion NV (Euronext Brussels : OXUR), a biopharmaceutical company based in Leuven, aims to clarify its new strategy.
Under the leadership of its CEO, Pascal Ghoson, Oxurion is highlighting the importance of age-related macular degeneration (AMD), and more specifically its advanced form, Geographic Atrophy, as a global public health issue. This emphasises the significant market potential of this domain. Oxurion's project aims to offer an innovative solution to these medical needs, bringing hope to the millions of people affected by these degenerative retinal diseases.
"Oxurion's research stands out from its competitors thanks to its strategy of genome-wide screening of a single cellular model representative of the disease. Thanks to this innovative approach, our research team has already been able to identify potential new therapeutic targets that could slow down or even halt retinal degeneration, opening up new therapeutic prospects for this particularly debilitating eye disease," adds Pascal Ghoson.
In a statement dated 28 December 2023, Oxurion announced that it had avoided bankruptcy thanks to an agreement with Atlas Special Opportunities LLC, its main creditor, to support the continuation of its preclinical programme, namely the development of innovative therapies for AMD and Geographic Atrophy, as well as to monetise other assets. On 22 January 2024, in an announcement on its website, Oxurion confirmed Atlas' support, as well as its new risk reduction and diversification strategy.
"As well as pursuing its preclinical research programme, Oxurion is actively considering strategic acquisitions in the healthcare sector to maximise added value. The expertise and in-depth experience of our R&D team, particularly in key areas such as ophthalmology, oncology, immunology, cardiology, neurology and dermatology, are major assets in the analysis and evaluation of investment opportunities, which may go beyond the strict confines of the ophthalmology sector. While the preclinical research programme will be funded through 2024 via the Atlas Funding Program (on, during that period, more favourable terms than previously available to the Company, as specified in the press release of 28 December 2023), we plan to fund these strategic initiatives via adhoc financing with long-term investors. However, while aiming for ambitious expansion, Oxurion will remain dedicated to its fundamental objectives of research and development, and will not be transformed into a SPAC (special purpose acquisition company) in the traditional sense," emphasises Pascal Ghoson.
Oxurion (Euronext Brussels: OXUR) is committed to the development of next-generation standard ophthalmic therapies for the treatment of retinal diseases. Oxurion's head office is in Leuven. Further information is available at www.oxurion.com.
Important information on forward-looking statements
Certain statements contained in this press release may be considered as “forward-looking". These forward-looking statements are based on current expectations and are therefore subject to various risks and uncertainties. The company therefore cannot guarantee that these forward-looking statements will materialise and does not undertake to update or revise them, whether as a result of new information, future events or for any other reason. Additional information on the risks and uncertainties affecting the company and other factors that could cause actual results to differ materially from forward-looking statements is included in the company's annual report. This press release does not constitute an offer or an invitation to sell or buy securities or assets of Oxurion in any jurisdiction. No Oxurion securities may be offered or sold in the United States without registration under the 1933 U.S. Securities Act as amended, or pursuant to a waiver of such Act, and in accordance with all applicable state securities laws.
For further information, please contact:
Pascal Ghoson, Chief Executive Officer