ThromboGenics has achieved strong revenues in the past nine months, placing the biotechnology company in a good position for the new Chief Executive to take it forward.

According to the company’s nine-month results, revenues of €30.3 million were achieved, mainly from out-licensing activities, while operating expenses came in at €17 million. This figure was put down to extensive R&D relating to several clinical development programmes.

As of 30 September, the company had €60.9 million in cash and cash equivalents, compared with €50.6 million on 30 September 2007.

ThromboGenics believes this level of funding will allow it to complete the Phase III programme for the initial indication for microplasmin in eye disease.

“ThromboGenics’ clinical development programmes continue to progress as anticipated. We are now working hard to prepare for the Phase III clinical programme for microplasmin in eye disease following a successful End of Phase II Meeting with the US Food and Drug Administration,” said new Chief Executive Patrik De Haes said. De Haes, formerly ThromboGenics’ Chief Operating Officer, was appointed to succeed Professor Desire Collen as Chief Executive on 1 September.

“The recent positive results from our Phase II trials with microplasmin have given us further confidence that this product has the potential to make a real difference in the field of eye disease.”

“With our solid financial situation, I believe that ThromboGenics will deliver further important corporate milestones over the next 12 to 18 months as we continue to build value for our shareholders,” De Haes said.

The first Phase III trial for microplasmin is expected to begin in the first quarter of next year.