Circio Holding ASA: First half 2024 results
Oslo, Norway, 29 August 2024 – Circio Holding ASA (OSE: CRNA), a biotechnology company developing novel circular RNA gene therapies, today announces its first half-year 2024 results.
Circio’s management will present the results in a live-streamed webcast at 10:00 am CEST to investors, analysts and the press. Click here for access to the live webcast
Questions can be submitted by email in advance (to: lubor.gaal@circio.com) and during the presentation.
Reporting material attached to this press release:
- Circio first-half year report 2024
- Circio 1H24 webcast presentation
The report and presentation are also available at www.circio.com
***
First half-year 2024 highlights
Corporate
- In January, Business Finland approved Circio’s application for a waiver of three R&D loans totaling NOK 71.3 million
- In May, launched a financing transaction securing cash runway for 12 months through a rights issue and parallel commitment from Atlas Capital Markets
- Cash burn of NOK 19 million, representing a 68% reduction versus 1H23
Circular RNA
- In April, announced technical in vivo proof-of-concept for its proprietary circVec circular RNA platform with >4-month expression durability
- In May, presented two circVec posters at the American Society of Gene & Cell Therapy (ASGCT) 2024 annual meeting in Baltimore, USA
- In June, announced a new generation circVec 2.2, achieving 2-4-fold higher expression than v2.1 and up to 15x improvement over mRNA expression
Mutant KRAS
- In February, announced that the first patient was dosed in the Georgetown University Phase 2 study, testing TG01 in a triple combination in collaboration with Janssen and BMS
- In March, the Chinese National Medical Products Administration (NMPA) approved the investigational new drug (IND) application of TG01
***
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com
Lubor Gaal, CFO
Phone: +34 683343811
Email: lubor.gaal@circio.com
About Circio
Building next generation RNA therapeutics
Circio Holding ASA is a biotechnology company developing novel circular RNA and immunotherapy medicines.
Circio has established a unique circular RNA (circRNA) platform for genetic medicine. The proprietary circVec technology is based on a modular genetic cassette design for efficient biogenesis of multifunctional circRNA from DNA and viral vectors, which can be deployed in multiple disease settings. The circVec platform has demonstrated enhanced and more durable protein expression than classic mRNA vector systems, and has the potential to become the new gold-standard for DNA and virus-based therapeutics in the future. The circRNA R&D activities are being conducted by the wholly owned subsidiary Circio AB based at the Karolinska Institute in Stockholm, Sweden.
In addition, Circio is continuing to develop its legacy oncology program, TG01, targeting KRAS driver mutations. TG01 is currently being tested in clinical trials which are being run through academic collaborative networks, supported by prestigious research grants from Innovation Norway and the Norwegian Research Council.