Facio’s parent publishes Annual Report 2018Leiden, the Netherlands - April 8, 2019
Facio Therapies announced today that its parent company, FSHD Unlimited, published its Annual Report for the year 2018. Facio is the only privately held company in the FSHD space to publish full annual reports, including audited annual accounts.
Facio’s Annual Report 2018 consists of a Board Report, the audited accounts, and an auditor’s report. The Board Report details the progress Facio made in 2018 towards accomplishing its mission of developing safe, effective and affordable small-molecule therapies that tackle the cause of FSHD by repressing the undue production of the DUX4 protein in skeletal muscle. The accounts for the year 2018 show that Facio ended the year with €6.64M in cash (2017: €3.07M), which the Board estimates to be sufficient to continue operations beyond 2019.
Facio’s Chairman, Kees van der Graaf, commented: “2018 was a banner year for us. Already, we were the first, and remain the only one, in the FSHD field with a fully automated, high-throughput DUX4 screening platform. In 2018, we became the first in the FSHD field to achieve relevant in vivo proof of principle. In our view, this double first signifies that we, people living with FSHD, are not condemned to waiting and hoping for a breakthrough to happen; we can make that breakthrough ourselves. We can. That is our message, which sums up the legacy of Facio’s first managing director, David Dasberg, whose untimely passing shocked us early in the new year. We dedicate this Annual Report to his memory.”
The full Annual Report 2018 can be downloaded here.
FSHD (facioscapulohumeral dystrophy) is a skeletal muscle wasting disease that devastates the lives of over 700,000 people worldwide and those close to them. The loss of muscle strength has a huge impact on daily life. Living with FSHD means living with pain, fatigue, and social isolation. Above all, the future becomes uncertain because the course of the disease is unpredictable. About 20% of people with FSHD end up in a wheelchair. Currently, no therapy for FSHD is available other than forms of temporary symptomatic relief.
About Facio Therapies BV
Facio Therapies, established in 2014, is a Netherlands-based company with a single focus: to overcome FSHD by developing a causal therapy that restores the natural repression of the muscle-toxic protein, DUX4. When unduly produced in skeletal muscle, DUX4 sets in motion a cascade of cellular events that eventually result in the muscle wasting seen in FSHD. Facio is the only one in the FSHD field with a fully automated, high-throughput screening platform based on quantifying the DUX4 protein in unadulterated (“primary”) FSHD-affected muscle cells. Facio delivered the first-ever therapeutically relevant proof of principle in FSHD by showing that one of its lead candidates, an orally active small molecule, represses DUX4 levels produced by human FSHD-affected muscle cells in a unique animal model (“in vivo”).
Rooted in, and dedicated to working for the FSHD community, Facio’s business approach is to have a positive impact on lives rather than to maximize financial gain. Since inception, Facio has raised over €16M in equity funding from FSHD-affected families, their friends, FSHD foundations, and Facio’s drug discovery partner, Evotec. Facio’s Board consists of business leaders from the FSHD community – Kees van der Graaf (Chairman; Netherlands), Neil Camarta (Canada), Dave Mackay (USA), Bill Moss (Australia), and Chip Wilson (Canada) – and Evotec’s CSO, Cord Dohrmann (Germany).