Immunovia Reports Second Quarter Interim Report January - June 2020
Immunovia reported its second quarter results for January to June 2020, emphasizing resilience amid COVID-19 challenges. The company plans to launch the IMMray™ PanCan-d test for early pancreatic cancer detection by Q4 2020. A significant capital raise of approximately SEK 400 million was completed, aiding commercialization efforts. The quarter saw the reopening of the Marlborough laboratory, which had faced operational delays due to the pandemic. Immunovia remains committed to its mission, recently engaging stakeholders through a virtual investment day.
- Successful handling of COVID-19 challenges allowing operational continuity.
- Planned launch of IMMray™ PanCan-d test for early pancreatic cancer detection in Q4 2020.
- Successful capital raise of approximately SEK 400 million for commercialization activities.
- Launch timeline for IMMray™ PanCan-d delayed from earlier projections due to COVID-19.
LUND, Sweden, Aug. 20, 2020 /PRNewswire/ -- Immunovia has today published second quarter interim report for January - June 2020. It is available on Immunovia's website.
"During Q2, we successfully handled COVID-19 challenges beyond our control, strengthened
the company's economic position, began the expansion of our sales, marketing, and customer service organizations, and are now, despite the COVID-19 pandemic, aiming to launch the first-ever test for early detection of pancreatic cancer during Q4 2020.
During the entire quarter, we provided continuous updates on our focused measures to minimize the impact of the COVID-19 pandemic on our employees, the company, and our commercialization efforts. As we announced in May, we were forced to adjust the company's timeline and launch date for IMMray™ PanCan-d to Q4 2020, due to the shutdown of the state of Massachusetts, which directly impacted important activities at our laboratory in Marlborough, MA. We were able to reopen the Marlborough laboratory on May 25, 2020, and we have since been able to continue working with the greatest possible speed, energy, and enthusiasm.
On June 4th, we successfully implemented one of the largest capital raises ever for a non-
USA-based diagnostic company. Immunovia announced a directed new share issue of approximately SEK 400 million. The capital from this new directed share issue is now being used for commercialization activities in conjunction with the launch of IMMray™ PanCan-d, our top priority. This capital raise allows Immunovia to take the next step in establishing itself as a world leader in the early detection of complex illnesses such as cancer and autoimmune disease. It also allows the company to be more resilient against any market volatility and ensures that we can fully commit to our launch preparations and commercialization.
We ended the quarter with our first virtual investment day, which included presentations by Immunovia's chairman, Carl Borrebaeck; VD, Mats Grahn; Chief Commercial Officer, Laura Chirica; Senior VP Sales North America, Michael Pettigrew; and Dr. Thomas King, Medical Director as well as a comprehensive and interactive Q&A session with Immunovia's stakeholders. A highlight of the event was a virtual tour of our Marlborough laboratory. A recording of the event can be found on our website.
On behalf of the board and the entire Immunovia team, we thank you for your continued support of Immunovia's effort to positively impact the lives of those at risk of pancreatic cancer. We are launching IMMray™ PanCan-d in Q4 of this year!."
- Excerpt from the CEO Mats Grahn's comment on the report
Seond Quarter Interim Report for January - June 2020 Call Details:
Immunovia invites to a teleconference (in English) for investors, analysts and media on Thursday, August 20, 2020 at 16:30 CET.
Mats Grahn, CEO will present Immunovia and comment on the second quarter interim report for the period January - June 2020 followed by a Q&A session.
Please call in a few minutes in advance. To attend, please dial-in at one of the numbers below and provide the conference code Immunovia to the operator:
Conference Numbers:
Sweden: +46 (0) 8 50520424
United States: +1 212 999 6659
France: +33 (0) 1 7037 7166
Denmark: +45 3272 9273
Germany: +49 (0) 30 3001 90612
Spain: +34 91 787 0777
Netherlands: +31 (0) 20 708 5073
Norway: +47 2 156 3318
Austria: +43 (0) 12530807
Switzerland: +41 (0) 22 592 7915
UK (Standard International Access): +44 (0) 20 3003 2666
Conference Code: (to provide to the operator) Immunovia
Immunovia Webcast:https://channel.royalcast.com/immunovia/#!/immunovia/20200820_1
For more information, please contact:
Julie Silber, Director of Investor Relations, Immunovia
Email: julie.silber@immunovia.com
Tel: +46 7 93 486 277
There will be an MP3-file available at Immunovia's webpage under Investors/Financial Reports (http://immunovia.com/investors/financial-reports/) for those who want to listen to the telephone conference afterwards. The file will be available within two hours after the conference has ended.
This information is information that Immunovia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:00 CET on August 20, 2020.
About Immunovia
Immunovia AB is a diagnostic company that is developing and commercializing highly accurate blood tests for the early detection of cancer and autoimmune diseases based on Immunovia's proprietary test platform called IMMray™. Tests are based on antibody biomarker microarray analysis using advanced machine-learning and bioinformatics to single-out a set of relevant biomarkers that indicate a certain disease. Thus, forming a unique "disease biomarker signature".
The company was founded in 2007, based on cancer studies and ground-breaking research in the Department of Immuntechnology at Lund University and CREATE Health Cancer Center, Sweden.
The first product, IMMray™ PanCan-d, is undergoing clinical evaluation in some of the world's largest clinical studies for pancreatic cancer, PanFAM-1, PanSYM-1 and PanDIA-1 and is currently entering the final validation for sales start Q3 2020. When validated, IMMray™ PanCan-d will be the first blood-based test for early diagnosis of pancreatic cancer on the market, with a potential to significantly improve patient survival and outcome.
Immunovia Dx Laboratories located in Marlborough, Massachusetts, USA and Lund, Sweden will provide laboratory testing services in two accredited reference laboratories.
Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com.
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