Adocia Announces Quarterly Results and Clinical Advances
Adocia has released its financial results for the third quarter of 2025 and reported clinical progress on its ultra-rapid BioChaperone® Lispro insulin.
Financial Performance and Cash Position
As of September 30, 2025, Adocia reported a cash position of 13.4 million euros, up from 7.5 million euros recorded on December 31, 2024. This increase in cash is attributed, among other things, to a milestone payment of 10 million US dollars received from Tonghua Dongbao, reduced by 10% due to withholding tax, amounting to a net of 9 million dollars, as well as the collection of 2.8 million euros under the 2024 Research Tax Credit. Revenue for the first nine months of 2025 amounted to 1.4 million euros, compared to 0 euros the previous year, mainly due to a research and collaboration contract around AdOral® technology. Net financial debts, mainly consisting of state-guaranteed loans, were 2.8 million euros at the end of the quarter, a decrease of 0.5 million euros compared to the previous quarter.
Clinical Results of BioChaperone® Lispro
Adocia announced positive results for its ultra-rapid BioChaperone® Lispro insulin following phase 3 clinical trials in partnership with Tonghua Dongbao. The trials, which involved about 1500 participants with type 1 and type 2 diabetes, demonstrated non-inferiority to Humalog® in reducing HbA1c, as well as a significant reduction in postprandial glycemic excursion. The contract with Tonghua Dongbao includes a conditional payment of 20 million US dollars, linked to market approval in China, as well as future royalties on sales. Adocia is also continuing discussions with Sanofi for a potential partnership on M1Pram, a combination of insulin and amylin analogues for the treatment of obesity in insulin-dependent patients.
Ongoing Development of Innovative Technologies
Adocia continues to develop its innovative technologies, such as BioChaperone® GLP-1 and AdOral®. The BioChaperone® CagriSema technology, which combines cagrilintide and semaglutide, shows potential benefits in terms of production and administration compared to current products. The company is also working on AdoShell® technology for the implantation of insulin-secreting cells, aiming to treat type 1 diabetes without immunosuppression. Progress has been made in preparing for the clinical trial planned for 2026. Additionally, the AdOral® technology continues to demonstrate improved bioavailability of orally administered peptides, and a research and development partnership is ongoing with an undisclosed partner. Adocia has temporarily paused its AdoGel® project to focus its efforts on its other advanced technologies.
