Crucell sees losses fall and revenues rise

Dutch biotechnology company Crucell says its revenue for the year ended December 31, 2005, was 37.6 million euros ($44.5 million), a 66% increase on the 22.6 million euros recorded in 2004. The firm's net loss in 2005 dropped to 15.5 million euros compared with the 21.3 million euros loss in the previous comparable period.

The firm attributes its improved performance in 2005 to several key factors, including: the adoption of its vaccine production technology by the US government in preparation for the predicted influenza pandemic; its European collaboration with Sanofi-Aventis on trials of its own pandemic influenza project; initiation of Phase I trials of its West Nile virus vaccine; its extended deal with the USA's National Institutes of Health's vaccine research center, covering the development and manufacture of vaccines against Ebola, Marburg and Lasa infections; and the subsequent signing of a 21.4-million euro contract to manufacture Ebola virus vaccine with the NIH.

In addition, the company says it plans to begin Phase I trials of compounds for the treatment of malaria, rabies and tuberculosis in the second quarter of this year. Crucell also says it plans to carry out its previously-announced acquisition of Swiss group Berna Biotech, in which it already holds a 73.9% stake (Marketletters passim).