Gene and Cell Therapy Solutions Provider, SIRION Biotech Announces Record First Half 2019 Financial Results
MUNICH--(BUSINESS WIRE)--Jul 31, 2019--
SIRION Biotech GmbH (“SIRION”), a world leader in viral vector-based gene delivery technologies for gene and cell therapy, today announced financial results for the first half of 2019. SIRION’s viral vector technologies make breakthrough advances in cell and gene therapy possible.
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SIRION Biotech’s LentiBoost™ Inside shown here (Photo: Business Wire)
SIRION has experienced 100 percent record growth in both the first half of 2019 and the year ended 2018. Service and licensing revenue for the first half of 2019 was €6M (US$6.6M).
SIRION’s business model comes from service revenue and licensing fees. SIRION provides high-grade viral vector materials for preclinical use, offering up to 10 15 GMP-ready AAV vector genomes and 10 10 infectious units of Lentivirus, currently paving all the way to toxicology studies. Second, SIRION licenses certain of its technologies where the company is seeing rising demand.
As the company continues its growth strategy, it has completed the TechShare Program with Euronext as the leading pan-European exchange. The TechShare Program includes optionality for a public market listing as a bridge to the company’s goal for a US listing.
“We are readying the company for increased demand of our viral vectors, offering the highest quality standards and upscaling capabilities. With dedicated staff in Munich, Paris, and Boston, we are committed to supporting our existing customers and further expanding through investment in additional lab infrastructures and technology developments both in Europe and USA,” said Dieter Lingelbach, Chief Operating Officer of SIRION.
Mr. Lingelbach continued, “In the third quarter of 2019, SIRION will continue to grow its onsite presence in Massachusetts through its wholly-owned subsidiary, SIRION Biotech International Inc. as it continues to expand into the US market.”
Gene and cell therapy are among the hottest topics in modern drug development. Viral vector technologies are the most promising gene editing tools with significant potential both as therapeutics for a growing number of indication areas and for further technical improvements. Key challenges include quality, yields, and improved transduction in order to make novel gene therapies reliable and affordable. Costs for gene therapies per patient still come at high price tags, prohibitive for a larger patient population even in well developed markets.
About SIRION Biotech GmbH
SIRION Biotech was founded in 2005 to lead the next generation of viral vector technologies for gene and cell therapy as well as vaccine development. Now SIRION offers one of the world’s most comprehensive viral vector technology platforms based on lenti-, adeno-, and adeno-associated viruses which expedites gene therapy research and advances drug development. SIRION is becoming a partner of choice in this growing sector. LentiBOOST™ has been used in several clinical trials from early stage clinical Phase 1/2 through late stage clinical Phase 3 trials and demonstrated clinical success in improving transduction of the therapeutic vector.
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CONTACT: Corporate Contact
Chief Executive Officer
Investor/Media Contact USA
Assistant Vice President, Integrated Communications
BD & Licensing Contact
Sabine Ott, Ph.D., VP Licensing & BD
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BIOTECHNOLOGY HEALTH GENETICS PHARMACEUTICAL
SOURCE: SIRION Biotech GmbH
Copyright Business Wire 2019.
PUB: 07/31/2019 09:25 AM/DISC: 07/31/2019 09:25 AM