Crucell revenues leap 116% in 2000

Crucell NV of the Netherlands has posted revenues for full-year 2000 of6.9 million euros ($6.4 million), which it says mainly consisted of license fees. In line with expectations, the pro forma loss for the group amounted to 11.2 million euros, compared to 7.3 million euros in 1999, which the Leiden-based firm noted excludes a charge of 5.1 million euros for amortization of goodwill and other intangible assets related to the merger between IntroGene and U-BiSys that led to the creation of Crucell (Marketletter July 10, 2000).

Dinko Valerio, Crucell's chief executive, said that 2000 was a good year for the group as it increased the number of PER.C6 licenses (its human cell line expression platform) to 14, and concluded an exclusive agreement with Merck & Co for the platform in the area of vaccines.

In financial terms, the group ended 2000 with 136 million euros in cash, helped by an initial public offering which raised 144 million euros (Marketletter October 2, 2000). In 2001, Crucell said it expects to begin collaboration for the development of its influenza vaccine, which is scheduled to enter clinical trials in 2002.