Regulatory News:
ACTICOR BIOTECH (FR0014005OJ5 ALACT), a clinical stage biopharmaceutical company developing glenzocimab, an innovative drug for the treatment of cardiovascular emergencies, today announces that the Commercial Court of Paris has pronounced the opening of receivership proceedings ("procédure de redressement judiciaire") in favor of Acticor Biotech, thereby extending the company's cash horizon to January 2025.
Following the publication of its annual financial statements on July 9, 2024, the Company announced that it would be able to finance its activities until September 2024. This is why, in order to study all possible actions to perpetuate its business, and after informing the employee representative bodies, Acticor Biotech filed a declaration of cessation of payments with the Paris Commercial Court. Following a hearing on August 6, 2024, the Paris Commercial Court issued a ruling declaring the opening of receivership proceedings for Acticor Biotech.
As soon as the receivership procedure is initiated, an observation period of 6 months, renewable, is provided for.
The purpose of the receivership is to enable the Company to evaluate all possible solutions to enable it to pursue its development. The implementation of this procedure will extend the Company's cash flow horizon until January 2025 and enable it to continue its active search for financing and partnerships.
Acticor Biotech has asked Euronext to suspend its share price from August 7, 2024, before the opening of trading. Given the uncertainty surrounding the outcome of the receivership proceedings and the steps taken by the Company, the suspension of the listing of the shares is maintained until further notice.
Press releases will be issued as the proceedings progress.
The Annual General Meeting called to approve the financial statements for the year ended December 31, 2023, which was originally scheduled for September 13, 2024, has been postponed to a later date.
About ACTICOR BIOTECH
Acticor Biotech is a clinical-stage biopharmaceutical company developing glenzocimab, an innovative drug for the treatment of cardiovascular emergencies, particularly ischemic stroke.
The positive results of the phase 1b/2a study, ACTIMIS, published in January 2024 in the Lancet Neurology (link to publication) confirmed the safety profile of glenzocimab and showed a reduction in mortality and intracerebral hemorrhage in the glenzocimab-treated group of stroke patients. A post-hoc analysis of brain imaging at 0 and 24 hours using artificial intelligence confirmed these results, showing a reduction in the number and volume of intracerebral lesions in patients treated with glenzocimab.
On April 25, 2024, the company announced the initial results of the international phase 2/3 ACTISAVE study in the treatment of acute ischemic stroke, which showed no efficacy of glenzocimab on the primary endpoint, the proportion of patients with severe disability or death (mRS 4-6) 90 days after stroke, nor on the secondary endpoint, the proportion of patients returning to life without disability (mRS 0-2).
On May 15, 2024, Prof. Martin Köhrmann (Principal Investigator of ACTISAVE) presented the main results of the study at the opening session of the European Stroke Organization Conference (ESOC), confirming the neutrality of the study on the primary and secondary endpoints, and showing trends in return to normal life (mRS 0-1), notably in sub-populations of patients with complete recanalization after mechanical thrombectomy.
Glenzocimab is also being evaluated in a Phase 2b LIBERATE clinical trial initiated by academic teams in the treatment of myocardial infarction, with final results expected in Q4 2025.
Acticor Biotech is supported by a panel of European and international investors (Mediolanum farmaceutici, Karista, Go Capital, Newton Biocapital, CMS Medical Venture Investment (HK) Limited, A&B (HK) Limited, Anaxago, and the Armesa Foundation) and has been listed on Euronext Growth Paris since November 2021 (ISIN: FR0014005OJ5 ALACT).
Disclaimer
This press release contains forward-looking statements with respect to Acticor Biotech and its business. Acticor Biotech believes that these forward-looking statements are based on reasonable assumptions. However, no assurance can be given that the expectations expressed in such forward-looking statements will prove to have been correct, as they are subject to risks, including those described in the Universal Registration Document as filed with the Autorité des marchés financiers on July 9, 2024, and to changes in economic conditions, financial markets and the markets in which Acticor Biotech operates. The forward-looking statements contained in this press release are also subject to risks that are unknown to Acticor Biotech or that Acticor Biotech does not currently consider material. The occurrence of some or all of these risks could cause Acticor Biotech's actual results, financial condition, performance or achievements to differ materially from those expressed in the forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806316272/en/
Contacts:
ACTICOR BIOTECH
Gilles AVENARD, MD
CEO and Founder
gilles.avenard@acticor-biotech.com
Sophie BINAY, PhD
General Manager and CSO
Sophie.binay@acticor-biotech.com
NewCap
Mathilde BOHIN
Investor Relations
acticor@newcap.eu
T. : +33 (0)1 44 71 94 95
NewCap
Arthur ROUILLÉ
Media Relations
acticor@newcap.eu
T. : +33 (0)1 44 71 00 15
