HALLE/SAALE, Germany, 15 March 2016 - Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer's disease (AD), today announced its financial results for the twelve-month period ending 31 December 2015 prepared in accordance with German GAAP ("HGB") and, on a voluntary basis, in accordance with IFRS as endorsed by the European Union. The Annual Reports are available on the company website (http://www.probiodrug.de/investors/reports-and-presentations/).

KEY HIGHLIGHTS

  • Phase 2a study of novel treatment for Alzheimer's disease, the SAPHIR trial, initiated
  • Phase 1 PQ912 data, a first in class Glutaminyl Cyclase (QC) inhibitor for the treatment of AD, published in Alzheimer's & Dementia: Translational Research & Clinical Interventions
  • Manufacturing process for PBD-C06, Probiodrug's anti-pGlu-Abeta targeting antibody, initiated
  • Additional data on Glutaminyl Cyclases (QCs) in Alzheimer's disease published in Acta Neuropathologica
  • Data on Probiodrug's anti-pGlu-Abeta monoclonal antibody presented at the 12th AD/PDTM 2015, Nice, France and at Neuroscience 2015, the 45th annual meeting of the Society for Neuroscience (SfN) in Chicago, USA
  • Key patents on Glutaminyl Cyclase (QC) inhibition for the treatment of AD and for Probiodrug's antibody program targeting pGlu-Abeta granted in key territories
  • Several high-caliber academic collaborations continued or initiated, e.g. with the Brigham and Women's Hospital, affiliated with Harvard Medical School and with University of Leipzig, Paul Flechsig Institute for Brain Research
  • Winner of the European Mediscience Award 2015 for Best Technology
  • Annual General Meeting held in June 2015, all resolutions proposed by Management and Supervisory Board approved
  • New members of the Supervisory Board with distinguished industry expertise appointed
  • Private placement raising EUR 13.5 million closed in November 2015
  • Cash and cash equivalents of EUR 21.4 million as of 31 December 2015
  • Net loss of EUR 13.5 million compared with EUR 11.4 million in 2014 - in line with company expectations

POST PERIOD HIGHLIGHTS

There were no significant events subsequent to the reporting period.

CONFERENCE CALL

Probiodrug will host a conference call open to the public today, March 15th, at 15:00 Central European Time (CET); the presentation will also be posted to the website.

 

Commenting on the results, Dr Konrad Glund, Chief Executive Officer of Probiodrug, said: "In its first year as a listed company, Probiodrug successfully continued to progress its innovative pGlu-Abeta therapeutic approach and reached important milestones. The start of the Phase 2 "SAPHIR" study of our lead product PQ912 for treating Alzheimer's disease, the initiation of the manufacturing process for our anti-pGlu-Abeta-antibody PBD-C06 and the publication of crucial data of our programs represent significant accomplishments. Our first private placement as a public company was very successful - with the money raised we also welcomed new bluechip investors. The achievements of 2015 would not have been possible without the support, commitment and trust of our employees, advisors, partners and shareholders - many thanks to all of you for the achievements of 2015."

 

For more information please contact:

Probiodrug

Dr Konrad Glund, CEO

Email: contact@probiodrug.de

 

Hume Brophy

Mary Clark, Supriya Mathur, Eva Haas

Tel: +44 (0) 207 862 6475

Email: probiodrug@humebrophy.com

 

The Trout Group

Tricia Truehart

Tel: +1 646 378-2953

Email: ttruehart@troutgroup.com

 

Notes to Editors:

About Probiodrug AG

Headquartered in Halle, Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer's disease.

Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes - the DP4 inhibitors - which provided the basis for a novel class of antidiabetics - the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.

Today Probiodrug's aim is to become a leading company in the development of Alzheimer's disease treatments and to thereby provide a better life for Alzheimer's disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer's disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company's view, with a leading position in this field of research.

www.probiodrug.de

 

About Alzheimer's disease

Alzheimer's disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer's disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, over 46 million people worldwide currently live with the condition and this number is expected to increase to 132 million by 2050. Alzheimer's also has an estimated, global societal cost of US$ 818 billion (World Alzheimer Report 2015).

 

Forward Looking Statements

Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.