Half Year 2024 Circio Holding ASA Earnings Call Transcript
Key Points
- Circio Holding ASA (FRA:TA50) has developed a unique circVec expression system that turns patient cells into circular RNA factories, offering a significant advantage over traditional mRNA therapies.
- The company has achieved nearly 10 times better protein expression with its circVec generation 2.1 compared to mRNA, demonstrating strong potential in gene therapy.
- Circio Holding ASA (FRA:TA50) has successfully raised NOK19.6 million through a Rights Issue, securing financial resources for the next 12 months.
- The company has entered into five research collaborations with companies in Asia, Europe, and the US, potentially paving the way for future partnerships and licensing deals.
- Circio Holding ASA (FRA:TA50) has managed to have a NOK70 million loan from Business Finland waived, significantly improving its financial position.
- The company is still in the experimental phase with its circVec technology, and it has not yet reached the maximum potential of the system.
- Despite promising in vitro results, the in vivo advantage of circVec AAV over mRNA AAV has not yet been clearly demonstrated.
- Circio Holding ASA (FRA:TA50) is reliant on a financing commitment from Atlas, which may create market dynamics due to share sales upon bond conversions.
- The company has a high monthly burn rate of NOK4 million, necessitating continuous efforts to secure additional funding.
- Enrollment in the Kansas University trial was slow, leading to its closure, which may impact the company's clinical development timeline.
Welcome to Circio and our first half year report for 2024. My name is Erik Digman Wiklund, I'm the CEO. And together with me today, I also have CFO, Lubor Gaal. During this webcast, -- we just let everyone in, some latecomers.
During this webcast, we will be presenting you an update on our circVec, circular RNA technology development. At the beginning, we will talk about our new gene therapy programs. And at the end, Lubor Gaal will run us through the financials. So with that, I move into the presentation.
Starting with our circVec development. As a bit of background, circular RNA is a very novel area in therapeutic development. It's really only emerged in the past three years. And in these three years, we've seen a very substantial activity in company formation as well as deals highlighted by this slide here.
So far, two big pharmas, Merck and Pfizer have made moves into the circular RNA field. I think over time, we expect more to start entering this space because of the intrinsic advantages of circular RNA.
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