GeNeuro Reports Cash and Revenue for Q1 2016

Regulatory News:

GeNeuro (Paris:GNRO) (Euronext Paris: CH0308403085 – GNRO), a biopharmaceutical company developing new treatments for autoimmune diseases including multiple sclerosis (MS), chronic inflammatory demyelinating polyneuropathy (CIDP) and type-1 diabetes, reports today on its cash and turnover for the first quarter.

At 31 March 2016, cash and cash equivalents of the group amounted to €15.5 million. This does not include the €33 million gross proceeds from GeNeuro’s initial public offering on Euronext’s regulated market in Paris on 18 April 2016.

During the first quarter of FY 2016, cash used by operating and investment activities was €4.1 million, of which €1.1 million for start-up costs of the European Phase IIb study launched in December 2015 for GNbAC1 in MS and €0.5 million for IPO expenses. GeNeuro recognized €1.0 million of revenue from the milestone payment received in 2015 under the collaboration agreement entered into with Servier in November 2014.

These results are in line with GeNeuro’s expectations. During 2016, its strategy remains focused on developing its lead candidate, GNbAC1, for the multiple sclerosis indication, with the objective to open new clinical centres in the United States. GeNeuro is also developing GNbAC1 for indications in other autoimmune diseases with the expected launch of new Phase II studies in type-1 diabetes and CIDP.

Recent and upcoming events:

• Publication on 15 April 2016 in "Multiple Sclerosis and Related Disorders” of an article on "Human endogenous retrovirus W in brain lesions: Rationale for targeted therapy in multiple sclerosis” with the research team of Amsterdam’s VU University Medical Center
• Presentation of two posters at the annual American Academy of Neurology congress: from April 16 to 21 in Vancouver, Canada
• Presentation of a poster at the European Academy of Neurology (EAN) congress: from May 28 to 31 in Copenhagen, Denmark
• Presentation of GeNeuro at BIO International Convention 2016 from June 6 to 9 in San Francisco, USA.

About GeNeuro:

GeNeuro, a spin-off from the Mérieux Institute founded in 2006 with the collaboration of Eclosion and its Eclosion2 fund, is creating a technological platform for the development of new treatments targeting potential causes of neurological disorders and autoimmune diseases such as multiple sclerosis, chronic inflammatory demyelinating polyneuropathy and type-1 diabetes.

GeNeuro's first product, GNbAC1, is a monoclonal antibody that neutralises a protein expressed by human endogenous retroviruses, part of the human genome that is normally silent. GeNeuro believes that this drug candidate could become the first treatment addressing a suspected causal factor of multiple sclerosis. GNbAC1 is being developed under a collaboration agreement with Servier.

GeNeuro is based in Geneva, Switzerland and has R&D facilities in Archamps, Haute-Savoie and Lyon. It has 23 employees and rights to 16 patent families protecting its technology.

For more information, visit: www.geneuro.com

Cautionary Statement Regarding Forward-Looking Statements: This press release contains certain forward - looking statements and estimates concerning GeNeuro’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as "anticipate,” "believe,” "can,” "could,” "estimate,” "expect,” "intend,” "is designed to,” "may,” "might,” "plan,” "potential,” "predict,” "objective,” "should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of GeNeuro or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and GeNeuro undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.

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