GeNeuro

financial information and business update for the second quarter 2019

Regulatory News:

GeNeuro (Paris:GNRO) (Euronext Paris: CH0308403085 - GNRO), a biopharmaceutical company developing new treatments for neurodegenerative and autoimmune diseases, such as multiple sclerosis (MS) and type-1 diabetes (T1D), today reported on its 2019 second quarter cash position and issued a business update.

2019 Second-quarter financial information

At June 30, 2019, GeNeuro had €10.1 million in cash. As announced on June 3, 2019, the Company has fully drawn down the €7.5 million credit facility granted by its shareholder GNEH SAS, a subsidiary of Institut Mérieux. The available cash resources provide GeNeuro with solid financial visibility until mid-2020 covering all planned activities.

These activities include continued constructive discussions on partnering its lead product, temelimab, to tackle the key unmet medical need of disease progression in MS, as a single agent and/or combined with existing anti-inflammatory MS drugs.

Continuing the trend observed in the past 12 months, GeNeuro’s operating and investing activities consumed €3.2 million of cash in the second quarter of 2019, similar to the first quarter, due to the payment of last expenses related to the Company’s clinical trials in MS.

The company recognized no revenues in the second quarter of 2019.

Key developments during the quarter

• GeNeuro published encouraging 12-month results of its Phase IIa study of temelimab in T1D, which confirmed all previously-observed positive safety and pharmacodynamic observations in the trial, meeting its primary objective. GeNeuro believes these data open the door to further development in an early-onset T1D pediatric patient population.

• GeNeuro announced that data supporting the mode of action of temelimab in treating MS was published in the Proceedings of the National Academy of Sciences (PNAS). Temelimab is a monoclonal antibody designed to neutralize a pathogenic, viral envelope protein, pHERV-W Env, which plays a causal role in the development of MS. The PNAS paper, entitled “pHERV-W envelope protein fuels microglial cell-dependent damage of myelinated axons in multiple sclerosis”, demonstrates that axonal injury in MS can be significantly driven by pHERV-W Env through activation of microglia and this contributes to neurodegeneration, particularly in progressive forms of MS.

Post-period highlights