Oncodesign reports €0.6M profit for 2016

Oncodesign, a biotechnology company serving the pharmaceutical industry in the discovery of new therapeutic molecules to fight cancer and other serious illnesses with no known effective treatment, has reported its full-year 2016 results.

The company has reported €0.6 million profit which is 49% decrease comparing to the last years profit of €1,3 million .

“Rarely is a year as prominent as 2016 was for Oncodesign”, said Philippe Genne, Oncodesign’s CEO and founder. “Beyond our financial performance and the record new orders we logged, we signed several multi-year service agreements, began the clinical trial of our first molecule and acquired the François Hyafil research center from GSK, thereby expanding our service offering and speeding up our Drug Discovery programs. As a result, we will be able to ramp up our strategic partnership with BMS—several targets have already been identified—and drive forward our in-house programs, including RIPK2 and LRRK2 to which we recently recovered the rights from Ipsen.”