Lipum

Financial summary January – December 2023

• Net sales: KSEK 0 (0)
• Result after financial items: KSEK -37 178 (-38 085)
• Cash and cash equivalents as of December 31: KSEK 10226 (32 837)

Significant events during the period October to December 2023

• Lipum appoints Ola Sandborgh as new Chief Executive Officer
• Lipum has been granted funding from Vinnova for an Eurostars application.

Significant events after the period

• Lipum reports positive interim results from clinical phase 1 study showing that SOL-116 reduces plasma BSSL levels in healthy subjects
• Lipum signs an agreement with NorthX Biologics AB on GMP manufacturing of SOL-116 to the phase 2 program.

CEO Ola Sandborgh comments:

“I am very pleased of being the CEO of Lipum and leading the team on this path of strong innovation and development to the benefit for patients with inflammatory disorders. Lipum is a unique company and a very interesting innovative player in the anti-inflammatory field. With a strong scientific background revealing that the novel target molecule Bile Salt-Stimulated Lipase (BSSL) plays an important role in inflammation, Lipum is on a very interesting journey.”

“In January, we announced that the first part of the clinical phase 1 study, where healthy subjects received a single dose of the drug candidate SOL-116, has been completed with positive results. These confirm that SOL-116 is well tolerated with few and no serious side effects observed in the subjects at the different dose levels. No subject was found to have anti-drug antibodies (immunogenicity) after dosing. The results show an expected and preferred pharmacokinetic profile with SOL-116 being well absorbed in the body and having a half-life of 20 days. SOL-116 reduces the amount of the target protein BSSL in plasma to undetectable levels from day 3 after administration, which was maintained until day 90 post-dose. The results suggest that SOL-116 is a potent BSSL-binding antibody that can effectively eliminate freely circulating BSSL in humans after a single dose of SOL-116.”

“It is exciting to see the positive interim results from the phase 1 study. This is a very important milestone for Lipum. Data generated on safety, pharmacokinetics, and SOL-116's interaction with the target protein BSSL confirm our expectations and provide important knowledge for the design of a phase 2 program. I really look forward to the next steps in the clinical development of SOL-116.”

Ola Sandborgh, CEO

The complete report (only in Swedish) is available at ww.lipum.se.