Biotec Pharmacon (OSE: BIOTEC) has had good progress in the clinical trials with it’s pharmaceutical compound SBG. New clinical trial results are expected during the second quarter of 2006.
We are very pleased to report that all our clinical studies now are progressing in accordance with plans, and that we are scheduled to receive results from one of the studies during the first half of 2006, - says CEO Gunnar Rørstad in Biotec Pharmacon.
At Royal Marsden & The Institute of Cancer Research in London, Biotec Pharmacon has conducted a study titled “An exploratory, randomised, parallel group study, comparing the protective effect of soluble beta-1,3/1,6-glucan or placebo in oral mucositis in head and neck cancer patients receiving radiation therapy.” A total of 36 patients have now been treated, and it is expected that results from this trial will be reported to the company during the next three months.
The company is experiencing very good progress in the phase II trial for treatment of chronic foot ulcers in diabetes. In this study, which is ongoing at two hospitals in Russia, more than 70% of the patients have now been randomised. Based on this rate of patient inclusion, it is likely that treatment of all patients in the study will be completed by the end of the third quarter. Biotec Pharmacon has furthermore recently announced plans to conduct a similar study at Nottingham City Hospital in the UK.
Treatment of damaged tissue in patients with burn wounds has now started at Haukeland University Hospital in Bergen, Norway. As this is an open study, preliminary indications of safety and therapeutic benefit may be obtained within the next six months.
Within immunotherapy of cancer, the ongoing trial at Memorial Sloan-Kettering Cancer Center in New York is progressing according to plans. In this study, orally administered SBG is tested in combination with an injected monoclonal antibody in children with neuroblastoma. New studies are also being planned at Ullevaal University Hospital and at Rikshospitalet-Radiumhospitalet in Oslo, where SBG will be tested in combination with cancer antibodies against breast cancer (Herceptin) and non-Hodgkin’s lymphoma (Rituxan).
Sales of non-pharmaceutical health- and diagnostic products amounted to NOK 17 million in the fourth quarter (NOK 15.2 million in Q4-04) and gave an operating result (EBITDA) of NOK 0.6 million (2.1 million in Q4-04). Total operating revenues in the fourth quarter amounted to NOK 19.1 million (NOK 17 million in Q4-04) and net loss amounted to NOK 4.6 million (NOK 2.7 million in Q4-04). R&D expenses were NOK 8.4 million in the quarter (NOK 6.7 million in Q4-04).
Sales of non-pharmaceutical health- and diagnostic products totalled NOK 70.3 million for the year 2005 (NOK 70.2 million for 2004) with an operating result (EBITDA) of NOK 11.9 million (NOK 14.8 million in 2004). Operating revenues for the year 2005 were NOK 74.8 million (NOK 74 million in 2004) with a preliminary net loss of NOK 11.8 million (NOK 6.4 million in 2004). R&D expenses were NOK 29,1 million (NOK 23.4 million in 2004). The company’s financial position is very strong with an available liquidity reserve of NOK 104.8 million and an equity ratio of 90.9%.
