Alderley Park biotech Evgen Pharma, has recorded revenues of £442,000 for the year to March 31, 2023, an improvement on zero sales the previous year, although pre-tax losses widened.
The firms pre-tax losses totalled £5.006m, up from a £3.169m in the same period last year, but “in line with expectations.” Cash outflow from operations during 2023 was £4.1m, an increase of the £2.6m registered last year.
Significantly, Evgen inked a deal deal with Swiss company Stalicla SA – a specialist in the identification of specific phenotypes of autism spectrum disorder (ASD) – last October which could be worth up to £129m. The Swiss group wants to assess the potential of Evgen’s sulforaphane-based medicines in the treatment of neurodevelopmental disorders and schizophrenia, and Evgen said that a total of £4.4mln in milestone payments are expected from collaboration “within 2024.” Today’s results also revealed that around £0.4m has already been received from Stalicla under the deal.
Evgen also announced that it is on the hunt for a new chief finance officer with current incumbent, Richard Moulson, set to retire at the company’s AGM in late July.
