TheraVet Provides Its 2021 Second Half Operational Update

·5 min read

GOSSELIES, Belgium, January 25, 2022--(BUSINESS WIRE)--Regulatory News:

TheraVet (Paris:ALVET) (Brussels:ALVET) (ISIN: BE0974387194 - ticker: ALVET), a pioneering biotechnology company specialising in the management of osteoarticular diseases in pets, presents its half-year operational update ending December 31, 2021.

Enrico Bastianelli, Chief Executive Officer of TheraVet, commented: "The second half of the year has been very structuring for TheraVet. Our latest developments bring us closer to our goal of becoming the global specialist in the treatment of osteoarticular diseases in pets. We have strengthened our management team as well as our Board of Directors to further our commercial and strategic development. The promising clinical results of VISCO-VET® in canine osteoarthritis hold up the promise of becoming a reference treatment for all dogs suffering from osteoarthritis. Finally, we are pursuing our BIOCERA-VET® development strategy with determination, with commercial launches in France and the Netherlands, as well as major distribution and research agreements. As you can see, 2022 is opening with the same momentum as last year, backed by a strong growth."

Key events of the period

Positive safety and efficacy results for VISCO-VET® in canine osteoarthritis

On September 8, 2021, the company announced positive safety and efficacy results from its proof-of-concept clinical study evaluating VISCO-VET® in canine osteoarthritis. A single intra-articular injection of VISCO-VET® provided:

  • A statistically significant improvement in dog’s mobility

  • A statistically significant reduction in dog’s osteoarthritis-related pain

  • Long-lasting effects, and increasing over time, for up to 3 months after the injection

  • Well tolerated with no adverse event reported

VISCO-VET®, the first product in its class with an effect extended to 3 months following a single intra-articular injection, targets a market of over 33 million dogs in Europe and the United States.

Launch of the European multicentric clinical study of VISCO-VET® in canine osteoarthritis

On September 10, 2021, the company announced the launch of the European multicentric clinical study evaluating VISCO-VET® in canine osteoarthritis in France and the Netherlands. Patient enrolment started in October 2021.

Commercial launch of BIOCERA-VET® in France and The Netherlands

On October 21, 2021, the company announced the launch and first sales registered in these countries. This new milestone propelled TheraVet into a market of over 25 million pets (cats and dogs).

First patients treated with the BIOCERA-VET® Bone Surgery in the United States of America

On October 26, 2021, the company announced the treatment of the first patients in the United States, thereby marking the launch of TheraVet's clinical case study with its BIOCERA-VET® bone substitute in the US. The objective of the study, to be conducted in a minimum of thirty (30) patients, is to collect additional data on the safety and efficacy of BIOCERA-VET® for surgical procedures such as arthrodesis, osteotomy, fracture and Tibial Tuberosity Advancement (TTA).

Positive safety and efficacy results for BIOCERA-VET® in canine osteosarcoma

On November 15, 2021, the company announced positive safety and efficacy results of BIOCERA-VET®-OSA used in cementoplasty as palliative treatment for canine osteosarcoma:

- Improvement of quality of life;

- Reduced pain for up to 6 months after the surgery; and

- Low complication rate.

Cementoplasty using BIOCERA-VET®-OSA is a simple, minimally invasive surgical procedure that is currently the only palliative option for this very aggressive disease which affects ~30,000 dogs per year in Europe and the United States.

Significant broad of the BIOCERA-VET® product line through major distribution and research agreements

On November 22, 2021, the company announced a partnership expanding significantly TheraVet’s bone substitutes portfolio with (i) 2 new exclusive and complementary bone graft lines, (ii) 3D-bioprinted bone endoprostheses for patient-tailored bone grafting surgeries & (iii) development of novel generation proprietary products.

Commercial launch of BIOCERA-VET® for canine osteosarcoma in Belgium, France and the Netherlands

On December 9, 2021, the company announced the start of commercialization of BIOCERA-VET®-OSA, a game changer in the palliative management of bone cancer in companion animals. Cementoplasty with BIOCERA-VET® spares the affected limb, provides significant pain relief and improves the quality of life of dogs with bone cancer.

Strengthening of corporate governance with the appointment of 3 new independent board members

On December 16, 2021, the company announced the strengthening of its governance with two new independent co-opted directors, Simon Wheeler and Nesva Goris, and one independent observer, Christian Schirvel.

Cash flow update as at 31 December 2021

Available cash at 31 December 2021 was €5.63m compared to €2.17m at 31 December 2020, mainly due to the success of the €7.05m capital increase in connection with the initial public offering on Euronext Growth® Paris and Brussels.

About TheraVet SA

TheraVet is a veterinary biotechnology company specialising in osteoarticular treatments for animals. The Company develops targeted, safe and effective treatments to improve the quality of life of pets suffering from osteoarticular diseases. For pet owners, the health of their pets is a major concern and TheraVet’s mission is to address the need for innovative and curative treatments. TheraVet works closely with international opinion leaders in order to provide a more effective response to ever-growing needs in the field of veterinary medicine. TheraVet is listed on Euronext Growth® Paris et Brussels, its head office is in Gosselies, Belgium, and it has a subsidiary in the US.

For more information, visit the TheraVet website or follow us on LinkedIn / Facebook / Twitter

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