Probiodrug reports full year 2018 financial results
Probiodrug raises EUR 8.2 million from investors in successful private placement of new shares
The shares are trading on XETRA, the electronic trading platform of Deutsche Börse.
HALLE (SAALE), Germany, 04 APRIL 2019 – Shares in Probiodrug AG, (Euronext Amsterdam: PBD, ISIN DE0007921835) which have been trading in the Open Market of the Frankfurt Stock Exchange, are now also listed in XETRA, the electronic trading platform of Deutsche Börse AG. Probiodrug AG has mandated ODDO SEYDLER BANK AG as its Designated Sponsor to ensure continuous liquidity in trading of its shares on XETRA.
Probiodrug´s business is strongly focused on advancing its therapeutic programs against Alzheimer’s Disease in development. Probiodrug has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting a key neuro-/synaptotoxic component of the pathology, pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy.
Dr. Ulrich Dauer, CEO of Probiodrug said: “Euronext/Amsterdam is our primary trading marketplace. By expanding the trading of our shares to Frankfurt and XETRA, shareholders are in the position to trade on other platforms. By mandating a Designated Sponsor, we want to increase the liquidity and tradability of the shares not just for our existing shareholders but also for potential ones as well.”
In the XETRA electronic trading system, Designated Sponsors provide additional liquidity by committing to enter binding bid and ask prices (so-called quotes) in the order book therefore generating continuous trading in the respective shares. In this way, ODDO SEYDLER BANK AG generates increased liquidity in the share’s trading.
In its role of liquidity provision, Designated Sponsors must fulfill high quality criteria (minimum requirements) set out by Deutsche Börse. ODDO SEYDLER BANK AG has achieved and continually maintained the highest rating by Deutsche Börse (“AA”) since many years.
For more information, please contact:
Dr. Ulrich Dauer, CEO
MC Services AG
Anne Hennecke, Susanne Kutter
Tel: +49 (0) 211 529 252 27
Notes to Editors:
About Probiodrug AG
Headquartered in Halle (Saale), Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a clinical stage biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s disease (AD). Probiodrug has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting a key neuro-/synaptotoxic component of the pathology, pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy. Its lead product, PQ912, has successfully completed a Phase 2a (SAPHIR) study. The company’s pipeline also includes PBD-C06, an anti-pGlu-Abeta-specific monoclonal antibody, in preclinical development. Probiodrug has medical use and composition of matter patents related to the inhibition of QC and anti-pGlu-Abeta-specific monoclonal antibodies, and has, in the Company’s view, a leading position in this field of research. www.probiodrug.de
PQ912, is a first in class, highly specific and potent inhibitor of Glutaminyl Cyclase (QC), the enzyme catalyzing the formation of synaptotoxic pGlu-Abeta. PQ912 has shown therapeutic effects in AD animal models. A Phase-1 study in healthy young and elderly volunteers revealed a dose dependent exposure and showed good safety and tolerability up to the highest dose resulting in >90% target occupancy in the spinal fluid. In June 2017, Probiodrug announced top-line data of the Phase-2a SAPHIR trial of PQ912 and presented the study results at CTAD 2017. Results strongly support (a) the hypothesis of pGlu-Abeta being synaptotoxic and (b) the therapeutic concept pursued by Probiodrug. The study provides important guidance how to move forward with the development of PQ912 as a disease-modifying drug for AD. Altogether, the results make the program highly attractive for further development; the company has initiated the preparation of a Phase 2b core program.
About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia. Today, 50 million people live with dementia worldwide, and this number is projected to treble to more than 152 million by 2050. Dementia also has a huge economic impact. Alzheimer’s has an estimated, global societal cost of US$ 1 trillion, and it will become 2 trillion dollar disease by 2030. (World Alzheimer Report 2018).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.