SYGNIS Pharma AG announced the results of the 2008/2009 fiscal year, which ended on 31 March 2009 and presented the milestones of the reporting period. On the way to becoming a product-based pharmaceutical company specialising in the treatment of disorders of the central nervous system (CNS), SYGNIS has taken further steps forward. One of the key milestones of the reporting period is the completion of the preparations for the multinational phase II efficacy study for AX200 for the treatment of acute stroke, which was initiated in spring in the first centres.
In addition, the company achieved a second key milestone in terms of its research expertise and value added through the acquisition of Amnestix Inc. in June 2008: Amnestix complements SYGNIS’ CNS expertise with the addition of a new discipline in the form of neurogenomics research, allowing SYGNIS to position itself as a licensing partner for innovative CNS projects in an early development stage.
SYGNIS expects a net loss of around 14 million euros for the current 2009/2010 fiscal year and a liquidity outflow of some 13 million euros. Following the acquisition of Amnestix, SYGNIS will now be placing a special focus on the working relationship with TGen to intensify this collaboration and to make the in-licensing of further CNS projects possible. In addition, SYGNIS will continue to strengthen and extend the patent position of AX200 and move ahead with pre-clinical projects relating to KIBRA and the neuronal stem cell programme. The company’s goal is to set up collaborations for these projects with pharmaceutical partners in the coming months. The effective execution of the multinational phase II efficacy study is also a key focus.