Creative Antibiotics

Interim Report July-March 2009

Pressmeddelande   •   Apr 23, 2009 11:04 CEST

Innate Pharmaceuticals AB (publ)

Interim report July 2008 - March 2009

  • Profit after financial items totalled SEK -6.4m (previous year SEK -4.4m)
  • Sales totalled SEK 0.7m (SEK 1.1m)
  • Earnings per share SEK -0.27 (SEK -0.18)
  • Cash and cash equivalents at the end of the period totalled SEK 16.0m (SEK 23.8m)
  • Virulence blocking antibiotics have detrimental effects on the assembly of bacterial needles that translocate toxic bacterial proteins directly into human host cells. These results are essential in the search for molecular targets, which can be used to find new virulence blocking antibiotics

Profit and financial position
Profit for the period totalled SEK -6.4m (SEK -4.4m) or SEK -0.27 (SEK -0.18) per share. Revenues as research grants totalled SEK 0.7m (SEK 1.1m) during the period. Cash and cash equivalents at the end of the period totalled SEK 16.0m (SEK 23.8m). The equity/assets ratio was 57.9 per cent (73.0 per cent). The figures in brackets pertain to the equivalent period/time last year.

During the period the Company has been debited SEK 0.487m by Griffith University for screening a collection of 200 000 natural extracts using Innate Pharmaceuticals´ platform technologies.

Operations
A recent report published by the Company together with research groups in the UK and the Netherlands have shown that virulence blocking antibiotics inhibit the type III secretion system (T3SS) of Shigella. Previously, it has been shown that virulence blocking antibiotics inhibit the T3SS of other bacterial strains causing diarrhoeal disease, Yersinia and Salmonella.

T3SSs are essential virulence devices for many pathogenic Gram-negative bacteria. They serve to translocate toxic bacterial proteins directly into human host cells. Virulence blocking antibiotics inhibit this translocation. The new study demonstrates detrimental effects of these compounds on T3SS needle assembly, indicated by increased numbers of T3S complexes lacking injection needles. These results will be important in the search for the molecular targets that will be used to find new virulence blocking antibiotics. Antibiotics that block the T3SS device of pathogenic Gram-negative bacteria are expected to reduce the frequency or progress of antibiotic resistance emergence.

The World Health Organisation (WHO) estimates that more than two million people die every year, as a consequence of diarrhoeal disease. Most of them are children. About half of these deaths are estimated to be caused by Shigella, a bacterium causing serious gastro-intestinal infections with bloody diarrhoea.

Future reports: Year-end report 18 August 2009.
Innate Pharmaceuticals AB (publ), corporate identity no. 556585-7785, is listed on Aktietorget (the Equities Market Place).

For further information, please contact: Sune Rosell, MD, CEO Innate Pharmaceuticals AB, tel. +46 (0)90-13 66 50 or +46 (0)70-557 22 00. E-mail: info@innate.se

Website: www.innate.se