Amryt, a biopharmaceutical company focused on rare and orphan diseases, is pleased to provide an update on trading for the half-year period ended 30 June 2018.
Amryt has had a strong H1 2018 with progress across all three pillars of its growth strategy: namely, continued revenue growth and territory expansion for its lead commercial asset Lojuxta™▼ (lomitapide), development of its late stage pipeline and acquiring new products to leverage its established commercial, medical and regulatory infrastructure in rare diseases.
Revenues for the first half were €7.0 million, representing 14% growth versus H1 2017. Cash Balance at 30 June 2018 was €12.2 million. Amryt is well positioned to continue to grow revenues in 2018 and the Board expects full year results to be in line with current market expectations.
This anticipated full year growth is underpinned by the recent successful reimbursement decision by NHS England for Lojuxta in patients with Homozygous Familial Hypercholesterolaemia (“HoFH”) and the success of Amryt’s strategy to appoint local distribution partners for new territories, which is already resulting in new prescriptions. For example, in November 2017, Amryt signed a distribution agreement for the key territory of Saudi Arabia and since then has identified 100 patients diagnosed with HoFH.
Moving to Amryt’s late stage development pipeline, the investigational global Phase III (‘EASE’) clinical trial with AP101 for Epidermolysis bullosa (“EB”) is progressing well with a pre-planned interim efficacy analysis expected to be completed in Q4 2018, and top-line data expected in Q2 2019. It is estimated that the market potential for AP101 is more than €1 billion.
During H1, Amryt further delivered on the third pillar of its growth strategy to acquire new products by expanding its EB franchise with the in-licencing of a non-viral gene therapy platform with preliminary data in EB.
Amryt is also actively seeking to acquire new commercial stage assets that can further leverage its established commercial, medical and regulatory infrastructure.
Joe Wiley, CEO of Amryt Pharma, commented: “We are pleased with the progress that we have made in the first half of 2018 across all aspects of our business and growth strategy. Our focus on adoption of and access to Lojuxta in new and existing territories is already delivering significant returns and we are confident that this positive momentum will continue in 2018 and beyond. We are particularly pleased by the recent funding approval of this medicine by NHS England.”