English

YEAR-END REPORT 2010 CHRONTECH PHARMA AB (PUBL)

Report this content

  • Research and development costs amounted to SEK 9.6 (6.4) m
  • The loss after tax was SEK -14.6 (-11.6) m
  • Earnings per share were SEK -0.20 (-0.26)
  • The company had no net sales for the period
  • More than 70% of patients vaccinated with ChronVac-C® who started standard of care therapy have responded rapidly to the treatment with <50 virus copies/mL blood already after 4 weeks (so called rapid viral response). This is an unusually rapid reduction of virus in the blood of patients with HCV genotype 1, indicating a role for ChronVac-C® in combination therapy. In view of these good results ChronTech has filed an application with the Swedish Medical Products Agency to perform a follow up phase IIb study where vaccination and standard-of-care treatment is given according to an organized scheme.
  • ChronTech has entered as a partner in a collaborative project to improve on HCV vaccines with Karolinska Institutet, University of Gothenburg, and Vecura, which is funded by Vinnova by up to SEK 4.5 m. The project started in November 2010 and lasts for three years.
  • Industrial development of IVIN, the new injection needle for DNA vaccination, has started through the consulting firm Team Consulting.
  • The multi-center study conducted in Sweden and Norway on ChronSeal® for the treatment of chronic leg wounds is completed as was made public earlier. ChronTech has not exercised its extended option to buy back in ownership of the ChronSeal® until the 31st of December 2010 which Kringle Pharma, Inc. in Japan had given the Company. However, Kringle Pharma, Inc. has indicated that it is open for negotiations on continued collaboration with ChronTech and the terms for increasing ChronTech’s ownership in the project.

Events after the end of the reporting period

  • At the Extra General Meeting in ChronTech Pharma AB held on the 7th of January 2011 the Board of Directors were authorized to issue new shares, options to subscribe to new shares and/or convertibles and with or without preferential rights for the shareholders.

For more information, please contact:

Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB

Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28,
E-mail: anders.vahlne@ki.se

About ChronTech

ChronTech develops the therapeutic DNA vaccines ChronVac-C® and ChronVac-B drugs against chronic hepatitis C virus and hepatitis B virus infections, i.e. chronic infections with jaundice causing viruses which can lead to liver cirrhosis and liver cancer. ChronTech has also developed and further develops a patent pending new type of injection needle for a more effective uptake of DNA vaccines. ChronTech also have part ownership in the wound healing therapy ChronSeal®, and in the new platform technology RAS®. The ChronTech share is admitted to trade on First North. Remium AB is Certified Adviser for ChronTech. For more information, please visit: www.chrontech.se

In the event of any discrepancy between the Swedish and English versions of this press release, the Swedish version will take precedence.

Documents & Links