ThromboGenics hopes for eye treatment launch in 2012

BRUSSELS Wed Aug 24, 2011 12:03pm EDT

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BRUSSELS Aug 24 (Reuters) - Belgian biotech company ThromboGenics (THR.BR) said on Wednesday it had substantially increased investment in marketing with a view to launching its lead drug at the end of 2012.

The Belgian company plans to seek regulatory approval in Europe and the United States for its eye disease treatment ocriplasmin before the end of the year.

ThromboGenics said it had cash of 96.4 million euros ($135.8 million) at the end of June, compared with 61.2 million euros at the same time a year earlier.

Its revenue shrank to 2.4 million euros in the first half of 2011, resulting in a net loss of 10.2 million euros. In the first six months of 2010, it lost 2.7 million euros on revenues of 6.1 million euros.

Ocriplasmin is designed to treat symptomatic vitreomacular adhesion, a condition at the back of the eye in which vitreous gel sticks more than normal to the retina, affecting sight and potentially leading to blindness.

ThromboGenics focuses on developing drugs for conditions related to the vascular system, such as cardiovascular disease, visual disorders and cancer. The company listed on Euronext Brussels in July 2006. (Reporting by Philip Blenkinsop)

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