|
Leiden, The Netherlands, July 24, 2001- Crucell N.V. (Nasdaq CRXL; Euronext Amsterdam: CRUC), a leading biotechnology company focused on the discovery of unique drug targets on disease associated cells and on the development of huMADETM biopharmaceuticals (vaccines and antibodies), today announced its second quarter results for 2001.
Revenues for the quarter are EUR 1.2 million (US$ 1.0 million), compared to EUR 0.6 million (US$ 0.5 million) for the quarter ended June 30, 2000. The pro forma loss amounted to EUR 4.4 million (US$ 3.7 million), or EUR 0.13 per share (US$ 0.11), compared to EUR 2.5 million (US$ 2.1 million) for the same period in 2000, or EUR 0.13 per share (US$ 0.11).
The pro forma results exclude a non-cash charge of EUR 2.5 million (US$ 2.2 million) for amortization of goodwill and other intangible assets related to the merger between IntroGene B.V. and U-BiSys B.V. to form Crucell in June 2000, as well as a non-cash charge relating to stock option plans, of EUR 0.2 million (US$ 0.17 million). Including non-cash charges, the total loss for the second quarter was EUR 7.1 million (US$ 6.0 million), or EUR 0.20 net loss per share (US$ 0.17) compared with a net loss of EUR 86.7 million (US$ 73.6) for the second quarter of 2000, or EUR 4.53 per share (US$ 3.85).
Crucell ended the second quarter with Euro 124.8 million in cash (US$ 106.0 million).
Highlights of the second quarter 2001
Progress on deals
Merck & Co., Inc. announced the initiation of clinical trials for testing an HIV vaccine program, produced on PER.C6, under an exclusive license agreement with Crucell.
Concluded a joint development agreement with Vaxin Inc. to develop novel types of vaccines which make injections obsolete.
Executed a PER.C6 license and production agreement with Selective Genetics Inc.
Signed an agreement with University Medical Center Utrecht to cooperate on antibody and vaccine treatment for Type 2 Diabetes Mellitus.
R&D efforts
Introduced AdVacTM, an innovative vaccine technology that enhances gene delivery technology for vaccination purposes.
Developed and tested a new, improved and larger phage antibody-display library of human antibody fragments for the development of antibody based therapeutics.
People
Appointed Arthur Lahr as Executive Director of our Antibody Business Development
About Crucell
Crucell is a leading biotechnology company focused on the discovery of unique drug targets on diseased cells and on the development of huMADETM biopharmaceuticals. Crucell focuses on the development of antibody based therapeutics for treatment of cancer, inflammatory diseases and on vaccines for the prevention and treatment of influenza and other infectious diseases.
Crucell's two broadly applicable human technology platforms form the basis for this. The first is a human cell line expression platform, PER.C6TM, on which a wide range of biopharmaceuticals can be developed and manufactured, such as vaccines, antibodies, therapeutic proteins and gene therapy products. The second technology is called MAbstractTM, a set of tools based on phage antibody-display libraries and proprietary subtraction and selection technology, to discover novel drug targets and develop human monoclonal antibodies as therapeutics for a variety of diseases. Biopharmaceuticals produced on Crucell's human PER.C6TM technology are called huMADETM.
Crucell makes its technologies available under exclusive or non-exclusive license agreements, and has currently signed 16 agreements with major pharmaceutical and biotechnology companies for its PER.C6TM technology. Crucell has signed an exclusive agreement with Merck & Co., Inc. under which it was granted a license to use Crucell's PER.C6TM platform to develop vaccines for the prevention and treatment of HIV. This agreement also provides Merck the option of extending the exclusivity to cover three additional diseases in the future.
Crucell currently employs approximately 130 people in its facilities in Leiden, Utrecht and Leuven (Belgium).
Please click on the link to view the full press release:
Q2 2001 Results Press Release
|
