ExpreS2ion Biotech achieved significant milestones in its therapeutic vaccine development programs during the fourth quarter of 2024, marking its transition into clinical-stage development while advancing key partnerships and maintaining a solid financial foundation.
Clinical Development Breakthrough in Breast Cancer
In a major advancement for the company's oncology program, ExpreS2ion received approval from the Austrian Agency for Health and Food Safety for its Phase I clinical trial of ES2B-C001, a novel therapeutic vaccine targeting HER2-expressing breast cancer. This milestone represents the company's first entry into clinical development, positioning ExpreS2ion as an emerging player in the cancer immunotherapy field.
Advancing Malaria Vaccine Development
The company's collaboration with the University of Oxford reached a significant milestone with the publication of promising Phase 2b trial results in The Lancet Infectious Diseases. The blood-stage malaria vaccine RH5.1/Matrix-M demonstrated encouraging efficacy results in Burkina Faso, aligning with the World Health Organization's ambitious 75% efficacy target. This development represents a potential breakthrough in the global fight against malaria.
Strategic Partnership and Research Progress
ExpreS2ion further strengthened its pipeline through a collaboration with Evaxion Biotech A/S, announcing positive preclinical data for their joint cytomegalovirus (CMV) vaccine program, ES2B-I002. Additionally, the company entered into a term sheet with Serum Institute India for the development and commercialization of a novel malaria vaccine, expanding its strategic partnerships.
Financial Performance and Capital Structure
The company reported fourth-quarter operating income of SEK 2.178 million, with a year-end cash position of SEK 81.541 million. A successful warrant exercise program (TO 10) resulted in approximately SEK 10 million in additional capital, with a 69% exercise rate demonstrating strong investor confidence.
CEO Bent U. Frandsen commented on the year's achievements: "In 2024, we achieved key milestones that have positioned ExpreS2ion for an exciting new phase of growth. These accomplishments reflect the dedication of our team and partners, and we look forward to building on this momentum in 2025."
Corporate Developments
The company implemented strategic corporate measures, including a reverse share split approved at an Extraordinary General Meeting in October. By the end of 2024, ExpreS2ion maintained a solid equity/asset ratio of 62%, reflecting strong financial management despite ongoing R&D investments.
The company continues to leverage its proprietary GlycoX-S2 platform, which has demonstrated success in producing over 500 proteins and virus-like particles (VLPs) through various collaborations since 2010. This technological foundation supports ExpreS2ion's growing pipeline of innovative vaccine candidates.
