Sensorion is a biotechnology company specializing in the development of innovative therapies. These are to restore, treat and prevent abnormalities leading to hearing loss. As announced at the end of May 2021, the company took part in its first conference on June 1 (Jefferies Virtual Healthcare Conference). While waiting for the second conference, Sensorion appoints a new Scientific Director.
Sensorion officials have appointed Dr. Nora Yang as its new Chief Scientific Officer. Dr. Yang is a specialist in rare diseases and gene therapy with extensive management experience. Her diverse skills are evident in the academic, industrial and public sectors.
She was a member of the Stratify Therapeutics LLC team before being approached by Sensorion. Dr. Nora Yang was not only the Chief Scientific Officer of Stratify Therapeutics LLC, but was also a co-founder of the company.
Long before all this, the company had already proven itself within the NIH: that is, the US National Institutes of Health (' Eli Lilly & Co' and 'Amgen Inc.’). She was also a director there. She has proven to be very effective in the development of gene therapies at the clinical stage in order to treat single-gene diseases properly.
Sensorion's new Chief Scientific Officer will relocate to the United States to better serve her new role. Her main role is to manage the preclinical organization of the biotech company's research laboratories in France and specifically in Montpellier. She will also be in charge of developing collaborations between clinical and basic research with one of Sensorion's main partners. This is the Pasteur Institute.
It should be remembered that biotechnology groups have recorded very strong growth during the pandemic period. This trend is illustrated in particular by the top five vaccine manufacturers. These are AstraZeneca, Johnson & Johnson, Moderna, Novavax and Pfizer-BioNTech. The same is true of treatment manufacturers such as Eli Lilly, Gilead and Regeneron. Find out more about Sensorion's performance in 2020, a year hit heavily by the health crisis, below.
At the end of December last year, the biotech recorded €2.4 million in operating revenue. This includes €0.6 million in grants, linked to Patriot (PSPC) Audinnove (RHU), and €1.8 million in Research Tax Credit 2020 (CIR). Operating expenses fell by 15% to €11.3 million at the end of December 2020 from €13.3 million a year earlier.
There is a €2.5 million reduction in research and development expenses , mainly after the results of the SENS-111 clinical study in 2019. Added to this is the curtailment of SENS-401 activities due to the difficult conditions imposed by the health crisis. The increase in headcount led to higher overheads (+€0.5 million).
The operating result was -€8.9 million at the end of the 2020 financial year, compared with -€10.8 million at the end of 2019. Net income was -€12.1 million compared to -€0.9 million in the twelve months of fiscal 2019.
Note: Sensorion had a total of €58.4m in equity on 31 December last year compared to €13.2m a year ago. Its cash, and "cash equivalent" stood at €62.2m.