Business
ProQR Announces Second Quarter 2023 Operating and Financial Results
Divestment of sepofarsen and ultevursen ophthalmic programs supports ProQR’s strategic focus on Axiomer® RNA editing platform technology and continued
About this update from Proqr Therapeutics N.v.
[{"type":"text","content":"Divestment of sepofarsen and ultevursen ophthalmic programs supports ProQR’s strategic focus on Axiomer® RNA editing platform technology and continued advancement of pipeline€129 M cash and cash equivalents as of June 30, 2023 providing runway into mid-2026 LEIDEN, Netherlands & CAMBRIDGE, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) -- ProQR Therapeutics NV. (Nasdaq: PRQR) (ProQR), a company dedicated to changing lives through transformative RNA therapies based on its proprietary Axiomer® RNA editing technology platform, today reported its financial and operating results for the second quarter ended June 30, 2023, and provided a business update. “As we continue to advance our Axiomer RNA editing platform technology and pipeline with an initial focus on liver-originated diseases, we were very pleased to announce the divestment of our sepofarsen and ultevursen programs to Théa, where they will continue the development of those programs for patients with rare genetic eye disease,” said Daniel A. de Boer, Chief Executive Officer of ProQR. “Over the next several quarters, we anticipate presenting and publishing additional preclinical data including for our first two pipeline programs, AX-0810 for patients suffering from cholestatic diseases and AX-1412 for patients with cardiovascular risk. Along with our preclinical proof of concept data for the platform, a partnership with Eli Lilly, a leading IP position, and cash runway into mid-2026, ProQR is well positioned to execute on our strategy.” Recent Progress In August, ProQR announced it will divest its late-stage ophthalmic assets, sepofarsen and ultevursen, to Théa. Under the terms of the agreement, ProQR will receive an initial payment of €12.5M and will also be eligible for up to €135M in further development, regulatory and commercial payments, as well as additional earn outs up to high teen percentage based on commercial sales in the US and EU. The transaction is expected to close in the third quarter of 2023, subject to the satisfaction of customary closing conditions.In July, ProQR presented an overview of its Axiomer RNA editing platform at the RNA Editing Summit in Boston. The presentation described ongoing efforts led by ProQR to put in place effective strategies to increase RNA editing yields of ADARs using chemical modifications and oligonucleotide design. Additionally highlight...