LYON, France–(BUSINESS WIRE)–Regulatory News:
POXEL SA (Euronext: POXEL – FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today announced TWYMEEG® (Imeglimin) Fiscal Year (FY) and fourth quarter 2022 results, as recently published by Sumitomo Pharma (Sumitomo), its partner commercializing TWYMEEG in Japan.
Thomas Kuhn, Chief Executive Officer of Poxel, stated: “This first full year of TWYMEEG’s commercialization has demonstrated a strong increase in sales, even exceeding the recent forecast that had been increased by Sumitomo Pharma, our commercial partner in Japan. This trend confirms the strong value of our product and gives us confidence in the timing of future expected positive royalties and sales-based payments that will be directed to repay the Company’s debt and fuel the future development of the Company in rare diseases.“
About Poxel SA
Poxel is a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare disorders. For the treatment of NASH, PXL065 (deuterium-stabilized R-pioglitazone) met its primary endpoint in a streamlined Phase 2 trial (DESTINY-1). In rare diseases, development of PXL770, a first-in-class direct adenosine monophosphate-activated protein kinase (AMPK) activator, is focused on the treatment of adrenoleukodystrophy (ALD) and autosomal dominant polycystic kidney disease (ADPKD). TWYMEEG® (Imeglimin), Poxel’s first-in-class product that targets mitochondrial dysfunction, is marketed for the treatment of type 2 diabetes in Japan by Sumitomo Pharma and Poxel expects to receive royalties and sales-based payments. Poxel has a strategic partnership with Sumitomo Pharma for Imeglimin in Japan, China, and eleven other Asian countries. Listed on Euronext Paris, Poxel is headquartered in Lyon, France, and has subsidiaries in Boston, MA, and Tokyo, Japan.
For more information, please visit: www.poxelpharma.com
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements. The Company does not endorse or is not otherwise responsible for the content of external hyperlinks referred to in this press release.
Glossary
You will find below a list of words and/or expressions that are used in this press release or in Poxel’s communication, with the aim to bring clarification and transparency:
1 Sumitomo Pharma fiscal year 2022 ends March 31, 2023.
2 Published by Sumitomo Pharma on May 15, 2023.
3 Converted at the exchange rate as of March 31, 2023.
4 Sumitomo increased its FY2022 forecast to JPY 1.8 billion from JPY 1.5 billion on January 31, 2023.
5 Sumitomo Pharma fiscal year 2023 ends March 31, 2024.
Contacts
Contacts – Investor relations / Media
Aurélie Bozza
Investor Relations & Communication Senior Director
aurelie.bozza@poxelpharma.com
+33 6 99 81 08 36
Elizabeth Woo
Senior Vice President, Investor Relations & Communication
elizabeth.woo@poxelpharma.com
NewCap
Nicolas Fossiez and Arthur Rouillé
poxel@newcap.eu
+33 1 44 71 94 94
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