Probiodrug’s profit in line with company’s expectations

Probiodrug AG, a Germany based biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer`s disease (AD), has announced its financial results for the twelve-month period ending 31 December 2016.

The company has reported net loss of €13.9 million compared with €13.5 million in 2015.

The company said that result is in line with company expectations.

Dr Konrad Glund, Chief Executive Officer of Probiodrug comments on the 2016 results: “We look back to a very successful year. Significant progress was made with our lead molecule PQ912 – we could announce favourable long term toxicology data, exciting preclinical data of combining our two target approaches, a QC inhibitor with an anti pGlu-Abeta antibody, and, finally, the full enrolment of the Phase 2 “SAPHIR” study. We trust that the advancement of the program further increases the attractiveness of PQ912 and strengthens the foundation for decisions on further clinical studies.

The recent failures of several late stage clinical studies in AD clearly indicate that more focused and specific approaches targeting selectively the neurotoxic fraction of Abeta are needed. Innovative treatment strategies should address pathological processes such as synaptic failure and impairment of neuronal connectivity underlying clinical symptoms. Here Probiodrug`s differentiated approach of targeting specifically toxic pGlu-Abeta via QC inhibition and/or via specific anti-pGlu-Abeta antibodies offers attractive new strategies to tackle AD.”