QUARTER 1, JANUARY - MARCH 2025
- Net revenue decreased by 69 percent to SEK 159k (519k).
- EBITDA improved by 30 percent to SEK -3 724k (-5 325k).
- EBIT/ operating result improved by 19 percent to SEK -7 288k (-9 037k).
KEY EVENTS DURING THE QUARTER
- Simris Group held an extraordinary general meeting on 20 January 2025. The general meeting resolved to enter into loan agreements from board and management totaling €140 000.
- Simris Biologics announced that one of its refined microcystin (MC) payloads variants demonstrated in-vitro efficacy nearly comparable to a leading ADC for the treatment of HER2-positive breast cancer. These results demonstrated the potential for further improvement and will act as a benchmark for further studies designed to guide the development of second-generation MC variants with improved properties.
KEY EVENTS AFTER THE END OF THE QUARTER
- Simris Group has entered into a bridge loan facility of up to EUR 450 000, extended existing loan agreements of EUR 600 000 with investors, and proposed that the Annual General Meeting resolves to extend loan agreements of EUR 140 000 with management and board members.
CEO UPDATE
As a Simris Group we entered 2025 with clarity, resilience, and an unwavering commitment to scientific excellence. Our vision is bold: to become a trusted provider of next-generation payloads for targeted cancer therapies, and to drive innovation where it matters most-at the intersection of nature, science, and human health.
Our journey is centered on our unique capability to produce proprietary payloads for antibody-drug conjugates (ADCs), with the goal of delivering more targeted and effective treatments for cancer patients around the world.
The first three months of 2025 have led to great progress in driving forward our plans to generate further in-vitro and in-vivo data for our most advanced novel next generation microcystins payloads. In the last three months, with the review of recent study data in collaboration with an independent pharma company, we have demonstrated in-vitro efficacy approaching that of Kadcyla (a commercial ADC targeting solid tumours) for one of our microcystin variants. This variant will serve as a benchmark for comprehensive in-vitro and in-vivo studies of the next generation of microcystin variants. Current efforts focus on enhancing safety for non-solid tumor treatments.
For ADCs using microcystin dimers, additional strategies are under development, including optimization of linker positioning, spacer design, and linker chemistries.
To continue to achieve our key scientific milestones, we have actively advanced multiple ADC payload candidates with optimized efficacy and improved safety profiles and have laid the groundwork to generate mouse data in a forthcoming study to be supported by a prominent CDMO.
Our established preclinical collaborations, including those with leading academic institutions in New Zealand have continued to deepen our scientific understanding of the potential of our unique payloads, but also confirmed the broader potential of our compounds beyond oncology, including in areas such as peptide-drug conjugates (PDCs) and healthy aging.
Our strong Global IP portfolio ensures we can defend our position in a highly competitive field and prepare for future commercialization efforts.
In our continued efforts to retain a lean and focused operating model, we have put our Hammenhög facility and equipment on the market for sale, as this asset has been deemed not fit-for-use for the production of cyanobacteria-derived compounds.
The report is published on Simris Groups website:
https://simrisgroup.com/financial-information/financial-reports/
Contact Details:
Dr Alexis Roberts-McIntosh
CEO Simris Group AB
Email: ir@simris.com
Mobile: +44 (0) 7940 585298
www.simrisgroup.com
About Simris Group AB (PUBL):
Simris Group is a biologics company identifying and commercialising high value, natural, biologically active compounds found in microalgae and cyanobacteria to extract for applications in biopharmaceuticals, dietary supplements and cosmetics.
Simris Group's shares are traded on the Nasdaq First North Growth Market with the short name SIMRIS and ISIN code SE0008091664.
Certified Adviser is Amudova AB, telephone: 08-546 017 58, email: info@amudova.se.
This information is information that Simris Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-14 08:00 CEST.
