GeNeuro Reports 2018 Full-Year Results and Provides Corporate Update

Regulatory News:

GeNeuro (Paris: GNRO) (Euronext Paris: CH0308403085 – GNRO), a biopharmaceutical company developing new treatments for autoimmune diseases, including multiple sclerosis (MS) and Type-1 Diabetes (T1D), today reported its full-year results for the year ended December 31, 2018 and provided a corporate update.

The completion of the temelimab Phase 2b study in MS has led to a reduced cash burn during 2018, as expected, and this will further decrease in 2019. GeNeuro’s cash position at year-end 2018, coupled with the €7.5 million credit facility granted by GNEH SAS, an Institut Mérieux subsidiary, on which the company received a first draw-down of €2.5 million at the end of March 2019, provide solid financial visibility until mid-2020 in terms of financing all our current activities.

“GeNeuro is making significant clinical progress in 2019 and has a solid financial visibility until mid-2020. We continue our constructive partnership discussions about the next steps in the development of our lead product temelimab and anticipate that our antibody program in ALS could enter the clinic by mid-2020,” said Jesús Martin-Garcia, CEO of GeNeuro.

“We are extremely pleased with the data, communicated in March 2019, from the ANGEL-MS Phase 2b extension study in multiple sclerosis, which clearly confirm and extend the robust and consistent effects of temelimab on key MRI markers of neuroprotection, and we are excited by the early signs of clinical benefit. The fact that these results appear to be independent of inflammatory activity opens a novel therapeutic perspective against disease progression in multiple sclerosis,” Mr Martin-Garcia added. “This further reinforces our determination to continue the development of temelimab in patients with non-active, progressive MS. By targeting potential causes of neurodegenerative diseases, we hope to open a new, safe and effective therapeutic pathway for patients.”

PRODUCT DEVELOPMENT HIGHLIGHTS SINCE JANUARY 1, 2018

Multiple Sclerosis

Temelimab (GNbAC1), GeNeuro’s most advanced therapeutic candidate, is a humanized monoclonal antibody that neutralizes pHERV-W env, a pathogenic protein that has been identified in brain lesions of patients with MS, particularly in active lesions, and appears to activate microglia and impair oligodendrocyte-mediated remyelination in the brain.