VALBIOTIS Announces Interim Financial Statements and Strategic Developments
Product Launches and Market Expansion
VALBIOTIS has successfully launched Valbiotis®PRO Cholestérol, which is now available in over 200 pharmacies and through all wholesaler-distributors. The company is preparing for the launch of three other TOTUM products in France, starting with TOTUM•63 for pre-diabetes and type 2 diabetes in the first half of 2025, followed by TOTUM•854 for blood pressure and TOTUM•448 for hepatic steatosis.
Clinical Trials and Research
Significant progress has been made in clinical trials, with the Phase II/III HEART 2 study for Lipidrive® (formerly TOTUM•070) completing enrollment. The study aims to reduce LDL-cholesterol levels, with results expected in Q1 2025. Additionally, the Phase II/III INSIGHT study for TOTUM•854 has shown promising results in reducing systolic blood pressure. VALBIOTIS has also initiated a research chair with Laval University to study TOTUM•448's effects on hepatic steatosis.
Financial Overview
VALBIOTIS reported a cash position of €18.5 million as of June 30, 2024. The company incurred a net loss of €3,503K for H1 2024, attributed to sales development and marketing activities. Operating income included sales of €35K, a research tax credit of €531K, and €3,514K from the termination of the NHS contract.
Strategic Reorganization
VALBIOTIS is undergoing a strategic pivot towards sales generation, with plans to close its preclinical research platform in Riom, resulting in estimated annual savings of €2.2M. The company aims to align its R&D resources with the scientific maturity of its portfolio and will detail its strategic and financial goals in Q1 2025.
Governance
Stanislas Sordet joined VALBIOTIS as Chief Financial Officer in May 2024, bringing extensive financial expertise to support the company's transformation and strategic initiatives.
VALBIOTIS continues to focus on developing and marketing dietary supplements to prevent metabolic disorders and cardiovascular diseases, leveraging its innovative approach and strategic partnerships.