Interim report Q2 2021
Press release: Uppsala, August 25, 2021. A summary of the Interim report January - June 2021, for Dicot AB (publ) is now available on the company website www.dicot.se
Second quarter 2021
- Net sales amounts to KSEK 33 (0)
- Earnings for the period amounts to KSEK -5,503 (-3,152).
- Earnings per share SEK -0.09 (-0.18)
January - June 2021
- Net sales amounts to KSEK 69 (0)
- Earnings for the period amounts to KSEK -13,971 (-9,724).
- Earnings per share SEK -0.26 (-0.57)
Statement from the CEO
After a winter and spring with intensive development work, we recently got the results from our effect studies performed in collaboration with Pelvipharm in France. The studies show that the effect of LIB-01 lasts for at least seven days. This is a major breakthrough for Dicot.
DICOT'S AMBITION is to develop a leading drug to treat erectile dysfunction. This means that our future product needs to display unique features which are better than the treatments available today, where long-term effect perhaps is the foremost.
PROFESSOR JARL WIKBERG that founded Dicot in 2016 showed in his early animal studies that LIB-01 has longer effect than treatments on the market today, up to 14 days. This would eliminate the planning of sexual activities as compared to existing treatments having a relatively short-term effect.
IN ORDER TO GET APPROVAL TO START CLINICAL TRIALS data from the early academic research needs to be complemented with data from well-established and validated animal models. During the spring, we have therefore continued to work with Pelvipharm and can now report truly gratifying results. The effect of LIB-01 lasts for at least seven days and increases up until day seven. This is a major breakthrough for Dicot in the development of a new drug with a long duration of action. Professor Francois Giuliano, who is co-founder of Pelvipharm and an international authority in the field, deems that the results of these studies clearly indicate that LIB-01 works.
IT'S AN HONOR FOR ME to continue the work of Professor Jarl Wikberg and it is gratifying that the results we now present is consistent with his early academic research. The other ongoing study at Pelvipharm, performed in animals with established erectile dysfunction, will be reported during the autumn. In addition to this, further studies will be started to evaluate more doses as well as the optimal conditions for long-term effect.. Overall, this contributes to our documentation needed to apply for starting a clinical Phase 1 study which is expected to start during next year.
DICOT NOW REINFORCES THE COMPETENCE within the company and has recruited Elin Trampe as COO and vice President. She starts in her new role 1st of September and will lead the development of the drug candidate together with our present team. Elin has a broad experience and relevant qualifications, most recently from the role as CTO at Oasmia Pharmaceutical in Uppsala. During the previous quarter, the board was also expanded with one member: Dr Per-Göran Gillberg who has extensive experience in Pharmacology and Drug Development.
WITH THE FANTASTIC RESULTS from the collaboration with Pelvipharm and the reinforced team backing us up, I have great faith in the continued work this autumn.
For further information, please contact:
Göran Beijer CEO
Tel: +46 706 63 60 09
Email: [email protected]
Jessica Roxhed, CFO
Tel: +46 70-394 94 98
Email: [email protected]
About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 1,800 shareholders. For more information, please visit www.dicot.se.