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SIRION records 100% revenue growth
Martinsried, Germany: Leading viral vector technology specialist SIRION Biotech has announced financial results for the first half of 2019 showing record growth.
Gaining momentum from its LentiBoost™ technology, SIRION experienced 100 percent growth in both the first half of 2019 and the end of the year 2018. The company benefited from the increased demand for its viral vector technologies that enable breakthrough advances in cell and gene therapy.
Service and licensing revenue for the first half of 2019 estimated €6M (US$6.6M).
SIRION’s business model emphasizes service revenue and licensing fees. SIRION provides high-grade viral vector materials for preclinical use, offering up to 10E15 GMP-ready AAV vector genomes and 10E10 infectious units of Lentivirus, paving the way for faster toxicology studies. Additionally, SIRION is seeing rising demand for the technologies that it licenses out.
“We are readying the company for increased demand of our viral vectors, offering the highest quality standards and upscaling capabilities,” commented SIRION Chief Operating Officer Dieter Lingelbach.
Towards US listing
As the company continues its growth strategy, it has completed the TechShare Program with leading pan-European exchange Euronext. The program includes options for a public market listing as a bridge to the company’s eventual goal for a US listing.
“With dedicated staff in Munich, Paris, and Boston, we are committed to supporting our existing customers and further expanding through investment in additional lab infrastructures and technology developments both in Europe and USA,” said Mr. Lingelbach.
“In the third quarter of 2019, SIRION will continue to grow its onsite presence in Massachusetts through its wholly-owned subsidiary, SIRION Biotech International Inc., as it continues to expand into the US market,” he added.
Gene and cell therapy are among the hottest topics in modern drug development. Viral vector technologies are the most promising gene editing tools with significant potential both as therapeutics for a growing number of indication areas and for further technical improvements.
Key challenges include quality, yields, and improved transduction in order to make novel gene therapies reliable and affordable. Costs for gene therapies per patient still come at high price tags, prohibitive for a larger patient population even in well developed markets.
About SIRION Biotech
Founded at Martinsried, near Munich, in 2007, SIRION Biotech has become Europe’s leading commercial supplier of viral vectors used for genetic research, clinical target validation, gene therapy and vaccination studies. It is SIRION’s mission to change the paradigm for viral vector supplies, with their ability to develop and supply all major viral vector types (adenovirus, lentivirus, AAV) within a matter of weeks at the concentration titers and quantities needed for preclinical human and animal testing.
SIRION Biotech International is a wholly-owned subsidiary of SIRION Biotech GmbH providing custom engineering and manufacturing services of viral vectors for the life sciences industry.
Its unique focus on improving transduction efficiencies and safety makes SIRION Biotech a valuable technology partner for gene and cell therapy trials. LentiBOOST™ transduction reagent is actively used to improve, among others, hematopoietic cell transductions in clinical trials. NextGen AAV capsid evolution projects aim to improve tissue targeting and immune escape of capsids to usher in a new generation of therapeutics for international gene therapy companies. SIRION offerings include the transformational RNAiONE™ knockdown validation platform along with a full range of virus related services, ranging from particle production to virus driven cell modelling.