OPM-101: preclinical work establishing POC in immuno-oncology, end of phase 1 healthy volunteers and preparation for phase 1b/2a
Reintegration of OPM-201 into OPM's portfolio of proprietary programs, following completion of recruitment of phase 1 healthy volunteers with Servier
R&D investments down -26% to €6.58m, mainly linked to the clinical development of OPM-101, additional preclinical studies and the COMETE program to develop internal vectorized radiotherapy
€8.5million of public funding for three programs, to be perceived between 2024 and 2027
Cost reduction implemented early 2025
Loss of €7.2 million, down 11% and in line with our forecasts
Cash position of €5.1m at December 31, 2024
DIJON, France, April 03, 2025--(BUSINESS WIRE)--Regulatory News:
Oncodesign Precision Medicine (OPM) (ISIN: FR001400CM63; Mnemonic: ALOPM), a biopharmaceutical company specializing in precision medicine for the treatment of resistant and metastatic cancers, announces its 2024 financial results, approved by the Board of Directors on April 3, 2025.
Philippe GENNE, Chairman and CEO of Oncodesign Precision Medicine, comments: "2024 was a very busy year for all our R&D programs, particularly OPM 101 and 201 in the clinic. OPM 101 is positioned in immuno-oncology as a leading therapy alongside existing immunotherapies. OPM- 201 has joined our portfolio and is a strategic asset interesting prospects for further development in partnership. However, the termination of the collaboration with Servier has had a serious impact on the company's 2025 budget, at a time when we are witnessing a significant attrition of investments in our field, particularly for listed companies. This means that, for 2025, we will have to make drastic choices to adapt, get through this period and make the most of the company's potential."
Karine LIGNEL, Managing Director and COO of Oncodesign Precision Medicine adds: "OPM is a classic young biopharmaceutical company, which means high development costs and negative earnings. This should not obscure the fact that the various development programs for our technologies and molecules are progressing well. The financial market, which is very paralyzed, makes the exercise of French scientific development even more complicated, and we are working on all possible financing solutions."
Oncodesign Precision Medicine - Income Statement
in M€ Audited data
2024
2023
Evolution
In %
in value
Revenues
0.2
1.1
- 81%
- 0.9
Other revenues and operating income
1.4
0.7
+ 112%
+ 0.8
Total revenues and operating income
1.6
1.7
- 6%
- 0.1
Purchases consumed
(6.5)
(8.0)
- 19%
+ 1.5
Personnel costs
(2.6)
(3.3)
- 22%
+ 0.7
Other operating expenses
(0.0)
(0.1)
- 85%
+ 0.0
Taxes and duties
(0.1)
(0.1)
+ 2%
- 0.0
Net change in depreciation and amortization
(0.3)
(0.3)
+ 2%
- 0.0
Total operating expenses
(9.4)
(11.7)
- 19%
+ 2.2
Operating result
(7.8)
(9.9)
na
+ 2.1
Financial income and expenses
(0.2)
0.1
na
- 0.2
Income from ordinary activities of consolidated companies
(8.0)
(9.9)
- 19%
+ 1.9
Extraordinary income and expenses
(0.3)
0.0
- 7908%
- 0.4
Income tax
1.1
1.8
- 38%
- 0.7
Net result
(7.2)
(8.1)
- 11%
+ 0.9
Overview of our development programs and technologies in 2024
In 2024, OPM focused on its priority assets and programs: OPM-101 and COMETE (development of radioligands with its partner Navigo Proteins). Our rigorous cost management enabled us to reduce operating expenses by 19%, improve operating income by 21% and net income for the year by 11%.
This did not call into question the value of the assets, quite the contrary, as OPM finalized the phase 1 healthy volunteers of OPM-101, with very good results, and prepared the REVERT study, for which the protocol was filed on March 24, 2025.
In a webinar, OPM management and Prof. Olivier Michielin, the study's lead coordinator, presented the Phase 1b/2a REVERT study, designed to evaluate OPM-101 in combination with Pembrolizumab in advanced melanoma patients with anti-PD-1 resistance. To watch the webinar replay (in French): Click here.
Sales were generated by the Start Pancreas program with Laboratoires Servier. Other revenues came mainly from grants (€1.2m). OPM was not expecting a milestone in 2024.
Financial income and expenses include both interest payments on borrowings and gains (€300k) on the term accounts in which OPM invests its cash.
Investment in R&D programs is down by €2.2m, to €6.6m in 2024. Clinical development of OPM-101 accounts for 29% of this expenditure. The remainder is split between preclinical trials for OPM-101 (29%), OPM-102 (7%) and our other programs (35%).
Oncodesign Precision Medicine - R&D expenditure
in M€ Analytical data
2024
2023
Evolution
In %
in value
Partnerships
1.8
2.1
- 14%
- 0.3
Licensing
4.8
6.7
- 29%
- 2.0
Total R&D expenses
6.6
8.8
- 26%
- 2.3
OPM received €1.1 million in Research Tax Credit, down on 2023, due to public funding received for our R&D projects.
At €-7.2m, the loss is lower than in 2023, due to our decision to focus on certain assets and our prudent management.
Cash position of €5.1m at December 31, 2024
The company's cash position declined in 2024, as expected and logical for a biotech company. In addition, a number of public funding agreements have been signed, with payments scheduled for 2025. €8.5m of public investments have been obtained and will be spread between 2024 and 2027 through financing associated with the development of OPM 101 (DEMOCRITE) and our RIV programs (COMETE).
Over 57% of the company's capital continues to be held by its management and employees (46.65% by PCG, 7.46% by Jan Hoflack, 1.24% by Karine Lignel and 1.64% by the remaining employees). This commitment is rare in a company of this nature and demonstrates the strong alignment between the company's interests and those of its shareholders, as well as the high level of confidence in the company's potential on the part of its stakeholders.
2025 perspectives
OPM was expecting a milestone payment from Servier in 2025, which will not be forthcoming as Servier has returned the OPM-201 program to OPM. Nevertheless, this takeover of the program represents significant value for OPM, which becomes the exclusive owner of the program, including 70 kg of GMP compounds.
In addition, a cost-cutting plan has been put in place, including the redundancy of 5 employees in January 2025, a 50% reduction in the salaries of the CEO and CSO, and further planned savings on non-priority programs.
Phase 1b/2a of OPM-101, for which the protocol was filed on March 25, 2024, should see the first patient inclusion in July 2025
We are also continuing to develop our COMETE program, with the selection of two targets and work to verify their interest. We also aim to consolidate our links with our German partner Navigo Proteins by creating a JAV around this program.
Availability of the 2024 annual financial report
The 2024 Financial Report will be available on the company's website on April 23, 2025. The work of the Auditor is currently being finalized.
Next financial event: Ordinary General Meeting on June 25, 2025
About Oncodesign Precision Medicine (OPM)
Oncodesign Precision Medicine (OPM), founded in 2022, is a biopharmaceutical company specializing in precision medicine, dedicated to discovering treatments for resistant and metastatic cancers.
OPM currently has two kinase inhibitors in clinical phase: OPM-101, intended for the treatment of chronic immuno-inflammatory digestive diseases and immuno-oncology, has demonstrated a significant therapeutic margin and absence of toxicity in its phase I healthy volunteers, with the start of phase 1b/2a in Oncology scheduled for early 2025. OPM-201, initially licensed to Servier and intended for the treatment of Parkinson's disease, completed its phase I trial in healthy volunteers at the end of 2024, and was reintegrated into OPM's portfolio.
Both molecules come from the Nanocyclix® technology platform, which enables the design and selection of small, highly effective and selective macrocyclic kinase inhibitors. We now have 12,000 molecules in our library, and will be using AI to accelerate the discovery of drug candidates while reducing the cost of this phase.
OPM's other two technology platforms are:
OncoSNIPER, for the selection of therapeutic targets using artificial intelligence, on which we have a partnership with Servier for the search for targets in pancreatic cancer,
PROMETHE® for the design and selection of radiolabeled biological molecules for systemic radiotherapy, on which we are currently discussing partnerships with vectorization manufacturers.
OPM, co-founded by Philippe Genne, Jan Hoflack and Karine Lignel, is based in Dijon, at the heart of the university and hospital cluster, and employs 14 people.
This document contains forward-looking statements and estimates with respect to the financial condition, results of operations, strategy, plans and future performance of the Company and the market in which it operates. Some of these statements, forecasts and estimates can be identified by the use of words such as, without limitation, "believes", "anticipates", "expects", "projects", "plans", "seeks", "estimates", "may", "will" and "continue" and other similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were believed to be reasonable when they were made but which may not prove to be correct. Actual events are difficult to predict and may depend on factors beyond the Company's control. Consequently, the actual results, financial conditions, performance or achievements of the Company, or industry results, may differ materially from future results, performance or achievements as expressed or implied by such statements, forecasts and estimates. Given these uncertainties, no representation is made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, the forward-looking statements, forecasts and estimates speak only as of the date of publication of this document. The Company disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any change in the Company's expectations with regard thereto, or any change in events, conditions or circumstances on which these statements, forecasts or estimates are based, except as required by French law.
