Genflow Biosciences PLC Announces Final Results
Genflow Biosciences, a UK-based longevity biotechnology company, has released its final results for 2024. The company, focused on developing therapies to counter aging effects, reported significant progress in its research programs.
Key highlights include advancing their MASH study towards pre-IND phase, receiving positive FDA feedback, and securing £1.4 million in funding through grants and equity. The company established two major collaborations supported by non-dilutive grants from the Belgian Government: a Sarcopenia research program with Revatis SA and an Exosome-mRNA project with EXO Biologics.
Financial results show cash reserves of £278,682, with research and development expenditure of £1,151,462. The company received grant income of £320,471 and completed two fundraising rounds. Looking ahead to 2025, Genflow plans to launch a clinical trial in aged dogs and develop a new ophthalmology program focusing on gene therapy for eye conditions.
Genflow Biosciences, un'azienda biotecnologica britannica specializzata nella longevità, ha pubblicato i risultati finali per il 2024. L'azienda, focalizzata sullo sviluppo di terapie contro gli effetti dell'invecchiamento, ha riportato notevoli progressi nei suoi programmi di ricerca.
Tra i punti salienti si segnala l'avanzamento dello studio MASH verso la fase pre-IND, il feedback positivo ricevuto dalla FDA e l'ottenimento di finanziamenti per 1,4 milioni di sterline tramite sovvenzioni e capitale azionario. L'azienda ha inoltre avviato due importanti collaborazioni supportate da sovvenzioni non diluitive del Governo belga: un programma di ricerca sulla sarcopenia con Revatis SA e un progetto Exosoma-mRNA con EXO Biologics.
I risultati finanziari mostrano riserve di cassa pari a 278.682 sterline, con una spesa per ricerca e sviluppo di 1.151.462 sterline. L'azienda ha ricevuto entrate da sovvenzioni per 320.471 sterline e ha completato due round di raccolta fondi. Guardando al 2025, Genflow prevede di avviare una sperimentazione clinica su cani anziani e sviluppare un nuovo programma di oftalmologia incentrato sulla terapia genica per patologie oculari.
Genflow Biosciences, una empresa biotecnológica del Reino Unido enfocada en la longevidad, ha publicado sus resultados finales para 2024. La compañía, dedicada a desarrollar terapias para contrarrestar los efectos del envejecimiento, reportó avances significativos en sus programas de investigación.
Los aspectos destacados incluyen el avance de su estudio MASH hacia la fase pre-IND, la recepción de comentarios positivos de la FDA y la obtención de £1.4 millones en financiamiento mediante subvenciones y capital. La empresa estableció dos colaboraciones importantes apoyadas por subvenciones no dilutivas del Gobierno belga: un programa de investigación sobre sarcopenia con Revatis SA y un proyecto de exosomas-mRNA con EXO Biologics.
Los resultados financieros muestran reservas en efectivo de £278,682, con un gasto en investigación y desarrollo de £1,151,462. La compañía recibió ingresos por subvenciones de £320,471 y completó dos rondas de financiación. De cara a 2025, Genflow planea lanzar un ensayo clínico en perros ancianos y desarrollar un nuevo programa de oftalmología enfocado en terapia génica para enfermedades oculares.
Genflow Biosciences는 영국에 본사를 둔 장수 생명공학 회사로, 2024년 최종 실적을 발표했습니다. 노화의 영향을 막기 위한 치료법 개발에 주력하는 이 회사는 연구 프로그램에서 상당한 진전을 이루었다고 보고했습니다.
주요 성과로는 MASH 연구를 IND 전 단계로 진전시키고 FDA로부터 긍정적인 피드백을 받았으며, 보조금과 주식 투자를 통해 140만 파운드의 자금을 확보한 점이 포함됩니다. 또한 벨기에 정부의 비희석성 보조금 지원을 받아 Revatis SA와 근감소증 연구 프로그램, EXO Biologics와 엑소좀-mRNA 프로젝트 등 두 건의 주요 협력 관계를 구축했습니다.
재무 결과는 현금 보유액이 278,682파운드이며, 연구개발비 지출이 1,151,462파운드임을 보여줍니다. 회사는 320,471파운드의 보조금 수입을 기록했고 두 차례의 자금 조달 라운드를 완료했습니다. 2025년에는 노령견을 대상으로 한 임상시험을 시작하고 안과 질환을 위한 유전자 치료에 중점을 둔 새로운 안과 프로그램을 개발할 계획입니다.
Genflow Biosciences, une société britannique de biotechnologie spécialisée dans la longévité, a publié ses résultats définitifs pour 2024. L'entreprise, axée sur le développement de thérapies contre les effets du vieillissement, a annoncé des progrès significatifs dans ses programmes de recherche.
Parmi les points forts, on note l'avancement de leur étude MASH vers la phase pré-IND, un retour positif de la FDA, ainsi que l'obtention de 1,4 million de livres sterling de financements via des subventions et des capitaux propres. La société a établi deux collaborations majeures soutenues par des subventions non dilutives du gouvernement belge : un programme de recherche sur la sarcopénie avec Revatis SA et un projet Exosome-mARN avec EXO Biologics.
Les résultats financiers montrent des réserves de trésorerie de 278 682 livres sterling, avec des dépenses en recherche et développement de 1 151 462 livres sterling. L'entreprise a reçu des revenus de subventions de 320 471 livres sterling et a réalisé deux levées de fonds. Pour 2025, Genflow prévoit de lancer un essai clinique chez des chiens âgés et de développer un nouveau programme en ophtalmologie axé sur la thérapie génique pour les affections oculaires.
Genflow Biosciences, ein in Großbritannien ansässiges Biotechnologieunternehmen für Langlebigkeit, hat seine endgültigen Ergebnisse für 2024 veröffentlicht. Das Unternehmen, das sich auf die Entwicklung von Therapien zur Bekämpfung der Auswirkungen des Alterns konzentriert, berichtete über bedeutende Fortschritte in seinen Forschungsprogrammen.
Wichtige Highlights sind der Fortschritt der MASH-Studie in Richtung Pre-IND-Phase, positives Feedback der FDA sowie die Sicherung von 1,4 Millionen Pfund Finanzierung durch Zuschüsse und Eigenkapital. Das Unternehmen hat zwei bedeutende Kooperationen etabliert, die durch nicht verwässernde Zuschüsse der belgischen Regierung unterstützt werden: ein Sarkopenie-Forschungsprogramm mit Revatis SA und ein Exosom-mRNA-Projekt mit EXO Biologics.
Die finanziellen Ergebnisse zeigen Barmittelreserven von 278.682 Pfund bei Ausgaben für Forschung und Entwicklung in Höhe von 1.151.462 Pfund. Das Unternehmen erhielt Zuschusseinnahmen in Höhe von 320.471 Pfund und schloss zwei Finanzierungsrunden ab. Für 2025 plant Genflow den Start einer klinischen Studie bei älteren Hunden sowie die Entwicklung eines neuen Ophthalmologieprogramms mit Fokus auf Gentherapie für Augenkrankheiten.
- Received two non-dilutive, non-reimbursable research grants from Belgian Government
- Secured €4.02M non-dilutive financial support from Wallonia region for MASH project
- Raised £715,000 through placing with institutional investor Premier Miton
- Received positive FDA feedback to proceed with animal model studies
- Debt-free status as of December 2024
- Successfully raised additional £434,083 in March 2025 for clinical trials
- Cash reserves declined to £278,682 in 2024 from £683,974 in 2023
- High R&D expenses of £1.15M with no revenue generation
- Administrative expenses remain significant at £1.9M
- Prior year misstatement requiring restatement of 2023 figures (£231,640 expense)
- Still in pre-clinical phase with no marketable products
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
LONDON, UNITED KINGDOM / ACCESS Newswire / April 30, 2025 / Genflow Biosciences Plc (LSE:GENF)(OTCQB:GENFF) ("Genflow" or "the Company"), an emerging leader in the field of longevity research, focused on developing therapeutic solutions for the prevention of age-related diseases, is pleased to announce its final results for the year ended 31 December 2024. The Annual Report will be available to view on the Company's website at www.genflowbio.com and the full, unedited text of its final results can be found below.
2024 Highlights
Commenced two collaborations with world-class researchers and laboratories, allowing the Company to receive the support of two non-diluting and non-reimbursable research grants.
The Company's MASH study advanced closer towards the pre-IND phase of preclinical development.
Received positive feedback from the FDA encouraging Genflow to proceed with its plans to identify appropriate animal models through pilot, proof-of-concept studies.
Raised funding of £1.4 million (before expenses) through a mixture of non-dilutive research grants and equity fundraising during the year.
The Company will post the Annual Report to shareholders and provide notice for its Annual General Meeting in the coming weeks.
In accordance with Listing Rule 14.3.6R and 14.3.7R of the UK Financial Conduct Authority ("FCA"), a copy of the Annual Report will also be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
Genflow isa UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age. It is the first longevity biotechnology company to list in Europe and seeks to be a reference company in the European longevity sector.
Contacts
Genflow Biosciences | Harbor Access |
Dr Eric Leire, CEO | Jonathan Paterson, Investor Relations |
+32-477-495-881 | +1 475 477 9401 |
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Brokers | Capital Plus Partners Ltd |
| Dominic Berger, +44 203 821 6167 |
| Jon Critchley, +44 0203 821 6168 |
Chairperson's Report
Dear Shareholders,
Introduction
I am pleased to present my statement as the Chairperson of Genflow Biosciences Plc (GENF) (the "Company").
The Company is a preclinical biotechnology company focused on the development of innovative biological interventions (namely gene therapies) which are aimed at tackling the effects of aging, potentially slowing or halting the aging process and so reducing the incidence of age-related diseases thereby increasing life span.
During 2024, the Company made significant progress with its two core research programmes, MASH (Metabolic Dysfunction-Associated Steatohepatitis) and Werner Syndrome, and was pleased to report that it has entered into further collaborations with world-class researchers and laboratories on two new research programmes.
Most notably, our MASH study is advancing into the pre-IND phase of preclinical development (a critical stage where companies discuss their product development with the FDA), and we have partnered with Exothera SA for GMP (good Manufacturing Practise) manufacturing of the clinical lot, utilising its state-of-the-art facilities in Belgium.
In June 2024, we received positive feedback from the FDA encouraging Genflow to proceed with its plans to identify appropriate animal models through pilot, proof-of-concept studies. This has emboldened us on our journey and provides encouragement that we may receive further positive feedback from the FDA once the Company has submitted a comprehensive briefing package conducted on our lead drug candidate, GF-1002, for the treatment of MASH.
An update on the status of each of our research projects has been detailed in the Strategic Report on page 5.
On 18 January 2024, we commenced two collaborations with world-class researchers and laboratories which allowed us to receive the support of two non-diluting and non-reimbursable research grants from the Government of Wallonia in Belgium, as follows;
Sarcopeniaresearch program with Revatis SA - focusing on the development of muscle progenitor cells loaded with Genflow's proprietary SIRT6, for the prevention and treatment of sarcopenia, the age-related loss of muscle mass and function.
Exosome-mRNA project with EXO Biologics - which aims to deliver a therapeutic product composed of exosomes encapsulating an AAV or mRNA encoding SIRT6, designed to target MASH and Werner Syndrome.
During 2024, the Company has received grant funding totalling €777,281 in respect of
Funding
In October 2024, we received official confirmation from the Wallonia region of this continued support for our MASH project in the form of €4,026,525 in non-dilutive financial support, subject to the Company meeting certain conditions, which will continue to fund the ongoing development of Genflow's lead gene therapy for the treatment of MASH. The Wallonia region's financial support highlights the growing recognition of Genflow's innovative work in gene therapy.
The financial support comprises non-reimbursable research grants and a recoverable advance, repayable to the Wallonia region upon commercialisation. This funding, is expected to cover three years of Genflow's development program for GF-1002, with the first instalment being received as working capital and is receivable subject to Genflow meeting certain capital requirements.
Further strengthening the Company's financial position and increasing its institutional investor base, the Company completed a placing and subscription of £715,000 (before expenses) in April 2024. We were privileged to have Premier Miton, a well-known UK institution, participate in this fundraise.
The Company completed a further fund raise in March 2025 with a major institution for an equity investment totalling £434,083 (before expenses), in order to accelerate the Company's planned 2025 programs including launching a clinical trial in aged dogs.
2025
During 2025, the Company plans to continue advancing its existing research programs, along with embarking on an exciting clinical trial focused on aged dogs. In early 2025, we commenced a proof-of-concept clinical trial to evaluate the safety and efficacy of our proprietary SIRT6-centenarian gene therapy targeting age-related decline in dogs.
In addition to this, we will shortly launch a new development program in ophthalmology, focused on advancing a novel gene therapy which utilizes a specially designed non-viral vector engineered for precise delivery of Genflow's SIRT6 to the eye. The therapy is designed to combat ocular problems including several pathologies of the cornea and glaucoma.
Financial Overview
As at 31 December 2024, the Group had cash reserves of £278,682 (2023: £683,974) and was debt free.
Group administration expenses for the 2024 year totalled £1,907,706 (2023 restated: £2,030,199) which consisted of professional, legal and consulting fees of £188,522 (2023: £215,971) and PR and marketing costs of £97,049 (2023: £106,819). Expenditure on research and development was £1,151,462 for the year (2023: £1,191,954), all of which has been recognised as an expense due to the Group being in the research phase.
During the year ended 31 December 2024, the Company recognised grant income of £320,471 (2023: £169,854) relating to the two non-dilutive and non-reimbursable research grants from the Government of Wallonia in Belgium's Advanced Therapy Medicinal Products (ATMPs), the remaining proportion of the €777,281 cash received in relation to the research grants will be recognised as grant income when the corresponding expenditure has been incurred.
Other Comprehensive Income was charged with a translation gain of £20,934 (2023 restated: £6,435) upon converting the Subsidiary's results for the year since acquisition to GBP.
Prior year adjustment
In the current year, a prior year misstatement was identified is respect of a material value of expense totalling US
Consequently, this has resulted in the Group's comparative figures being restated with the impact being an increase to administrative expenses for the year by £231,640, an increase to trade and other payables by £226,222 and an increase to other reserves by £5,418.
Further disclosure has been made in note 2.1.
Forward look
On behalf of the Board, I want to express our gratitude for your continued support. The progress we have made in advancing therapeutic solutions for longevity has been greatly bolstered by the continued support of our collaboration partners, the Belgian Government and our stakeholders. This support strengthens our resolve to address age-related diseases through innovative treatments. We remain dedicated to enhancing healthspan, and we are especially excited to bring you updates in relation to our dog study which we hope will unlock groundbreaking insights that could revolutionise both veterinary and human medicine.
Tamara Joseph
Non-Executive Chairperson
30 April 2025
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SOURCE: Genflow Biosciences PLC
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