The Board of Directors of MolMed S.p.A., medical biotechnology company focusing on research, development, manufacturing, and clinical validation of Cell & Gene therapies to treat cancer and rare diseases, met under the chairmanship of Professor Claudio Bordignon, reviewed and approved the interim financial results at June 30th, 2018.
Riccardo Palmisano, MolMed’s CEO, commented the first half 2018 business evolution as follows: “In the first half of the year, MolMed confirmed improved results, with Revenues from sales up 36.9%, with Operating result and Net result up by 56.1% and 52.7% respectively, thanks in particular to GMP production for third parties. In the second quarter GMP services were further bolstered, both in the production of viral vectors, with the five-year agreement signed with the Boston Children's Hospital, and in the production of engineered cells, due to the extension of the agreement signed with Orchard Therapeutics for the development of therapies for rare diseases to include several products of their proprietary pipeline, besides to those included in the agreement with GSK and Tiget/Telethon. Further to these agreements closed in the first half of the year, a new relevant three-year contract with GSK followed in July, for the production of lentiviral vectors to be used in the oncology field. During the first half of the year, MolMed also continued its activities aimed at expanding the CAR proprietary pipeline with the introduction of new technological platforms and new therapeutic targets. In addition to the advancement of CAR CD44v6 project, close to the authorization request for the first in-man trial, two key agreements were concluded in order to expand the Company’s CAR platform with new autologous and allogenic products: with Glycostem, so as to enter the field of allogeneic therapies with CAR NK, and with AbCheck, for the selection and development of new CARs, targeting both liquid and solid".
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