Eurocine Vaccines discloses interim report for July 2022 – March 2023

Eurocine Vaccines AB (publ) (“Eurocine Vaccines” or the “Company”) hereby discloses the interim report for July 2022 to March 2023. Below is a summary of the report. The full report is available on Eurocine Vaccines’ website (https://eurocine-vaccines.com/) and as an attachment.  

2023-01-01 – 2023-03-31 (third quarter)

• Results after tax for the quarter amounted to -3.2 MSEK (-5.6 MSEK)
• Revenues for the quarter amounted to 2 KSEK (0 KSEK)
• Earnings per share for the quarter amounted to -0.115 SEK (-0.397 SEK)

2022-07-01 – 2023-03-31 (nine-month period)

• Results after tax for the period amounted to -15.3 MSEK (-15.0 MSEK)
• Revenues for the period amounted to 5 KSEK (0 KSEK)
• Earnings per share for the period amounted to -0.549 SEK (-1.053 KSEK)SEK

Highlights during the period

Eurocine Vaccines decided to develop mRNA-based vaccine candidate against chlamydia

In January 2023, Eurocine Vaccines announced that its Board of Directors had decided to develop a vaccine candidate against chlamydia using mRNA, the next generation vaccine technology. The technology enables synergies in the development of other vaccine candidates in our portfolio and provides competitive advantages with less investment. At the same time, the Company decided to pause the resource-intensive development of the protein-based chlamydia vaccine candidate until further notice.

Eurocine Vaccines’ Director of Preclinical Development lectured at UCL School of Pharmacy

In February 2023, the Company’s Director of Preclinical Development, Dr. Karl Ljungberg, was invited to lecture on DNA and RNA vaccines at one of the top-ranked pharmaceutical schools in the UK.

Highlights after the period

Eurocine Vaccines receives grant from Merck Group

In May 2023, Eurocine Vaccines announced that the Company has received a grant of SEK 300,000 from Merck Group that can be used for Merck’s bioprocessing technologies and services to further expedite the development of the Company’s innovative vaccine candidates.

CEO Hans Arwidsson

The recent period has been intense for Eurocine Vaccines and we have made important decisions regarding the further development of our advanced vaccine candidates to create an innovative and competitive vaccine portfolio with great potential to reach the market.

Candidates based on next generation vaccine technology

In the beginning of the year, we decided to develop a chlamydia vaccine candidate based on next-generation vaccine technology, mRNA, as vaccines based on mRNA technology show great clinical potential to drive both antibodies and T cells. In connection with this, we decided to pause the development of the protein-based chlamydia candidate until further notice, as it requires large resources, and instead focus on the mRNA technology, which also gives us good opportunities to achieve synergies with our two vaccine candidates. We are convinced that the mRNA candidate has very good potential and it is positive that it is covered by the same patent and the exclusive global license agreement with Spixia Biotechnology.

We have a continued intensive year ahead of us where we plan further studies to determine which technology the vaccine candidate against HSV-2 should be based on. At the end of last year, we conducted a first preclinical study with the candidate, where the results for our mRNA-based candidate were outstanding and could show that the antibody response was at least equivalent to the protein-based vaccine. The results also showed that the mRNA candidate elicits a superior T-cell response that is in line with T-cell responses detectable after recovery from an HSV-2 infection. We also look forward to initiating process development and other preparations for toxicology and clinical trials with our mRNA-based vaccine candidates.

Demanded expertise within the Company
In mid-February, Dr. Karl Ljungberg, our Director of Preclinical Development, was invited to lecture on DNA and RNA vaccines at University College London, UCL School of Pharmacy. An invitation to one of the UK’s highest ranked pharmacy schools is a very gratifying sign that Eurocine Vaccines is at the forefront of vaccine development and that our internal expertise is sought after in the academic world.

Finally, as we approach the end of the financial year, I would like to thank the team for their efforts so far. I look back on an eventful year for Eurocine Vaccines and I look forward to ending the year on a strong note. I would also like to thank the shareholders in Eurocine Vaccines for your continued trust as we focus on developing a portfolio of innovative vaccine candidates based on the next generation of vaccine technology, mRNA

Please join us at upcoming activities in our Calendar, and see our latest presentations from Sedermeradagen Malmö on 5 October and Aktieportföljen Live on 11 October (both in Swedish).

Hans Arwidsson, Ph.D., MBA

CEO of Eurocine Vaccines AB
hans.arwidsson@eurocine-vaccines.com

+46 70 634 0171

Eurocine Vaccines is a development company in the highly intense vaccine area, bridging the gap between innovation and market.

Through its portfolio strategy, innovative vaccine candidates are given the opportunity to reach the market quicker, while investors are offered risk diversification with a big future leverage. These candidates are later licensed to partners for commercialization.

Listed at Spotlight Stock Market, XSAT, Eurocine Vaccines, EUCI, today operates at the heart of the bio-scientific cluster of Karolinska Institutet, Solna, Sweden and has attracted several internationally merited vaccine specialists to its board.