Genflow Biosciences - Half-year Report

Genflow Biosciences

30/09/2025 07:00

RNS Number : 3007B

Genflow Biosciences PLC

30 September 2025

 

PRESS RELEASE

 

30 September 2025

Genflow Biosciences Plc

 

("Genflow" or "the Company")

 

HALF YEAR RESULTS

 

Genflow (LSE: GENF) (OTCQB:GENFF) is pleased to announce its half year results for the six-month period ended 30 June 2025.

 

Chairman's Statement

 

It is my pleasure to update shareholders of Genflow Biosciences Plc ("Genflow" or the "Company") on our performance during the first six months of 2025.

 

As of 30 June 2025, Genflow has made important progress across its programs in both human health and animal health, advancing our mission to extend healthspan through our proprietary SIRT6 centenarian-based gene therapies. These two dimensions of our pipeline are deeply complementary: our human programs target age-related diseases with high unmet need, while our veterinary initiatives allow us to generate translational data, demonstrate safety and feasibility, and explore commercial opportunities in the growing companion animal health sector.

 

Human Health Pipeline

 

In human health, our pipeline spans MASH ("Metabolic Dysfunction-Associated Steatohepatitis"), sarcopenia, Werner Syndrome, and exploratory programs in ophthalmology. Collectively, these programs highlight the versatility of SIRT6 centenarian in addressing fundamental mechanisms of aging across multiple systems.

 

The most notable development has been in MASH. Recent approvals of two new therapies including GLP-1 agonists have provided effective therapies for patients in the earlier stages of disease (approximately two-thirds of the population). However, there remains a profound unmet need in advanced MASH with fibrosis, where therapeutic options are extremely limited. In response, Genflow has repositioned GF-1002 to target this high-need population (around one-third of patients). With its antifibrotic properties and potential to prevent progression to liver cancer, GF-1002 is uniquely suited to address this stage of disease. While the patient population is smaller, the commercial opportunity is significant, given the lack of alternatives beyond liver transplantation.

 

In parallel, we are expanding into ophthalmology, where SIRT6-based therapies hold promise in corneal pathologies and glaucoma. Current glaucoma treatments focus primarily on reducing intraocular pressure, yet do not prevent degeneration of the optic nerve. Preclinical findings suggest that SIRT6 overexpression can protect retinal ganglion cells and preserve optic nerve integrity, opening the door to a paradigm shift in treatment - from symptom management to true neuroprotection. With the global glaucoma market valued at nearly USD 9 billion and projected to reach USD 12-14 billion by the early 2030s, this represents a compelling long-term growth opportunity for Genflow.

 

Animal Health Pipeline

 

Complementing our human health programs, we are pioneering applications of SIRT6 in veterinary medicine. During the period, we initiated a Healthspan and sarcopenia clinical trial in dogs with our partner, the independent CRO Syngene. This comparative, randomized study involves 28 beagle dogs aged 10 years and older, testing GF-1004, our naked DNA construct, in an aging canine population.

 

Early studies have already confirmed the safety and ease of administration of GF-1004, providing confidence in broader applicability. The trial is expected to deliver initial efficacy data within five months, with endpoints focused on muscle function and healthspan indicators. At the same time, we have initiated confidential discussions with several leading animal health companies under confidential disclosure agreements, underscoring industry interest in innovative approaches to age-related decline in companion animals.

 

Strategic Integration of Human and Animal Health

 

Our programs in human health and animal health are mutually reinforcing. The veterinary studies provide a real-world proof-of-concept environment to evaluate SIRT6-based therapies in aging populations, while our human programs extend the platform into areas of high unmet need such as MASH, sarcopenia, Werner Syndrome, and ophthalmology. Together, they expand the reach of our SIRT6 platform and strengthen Genflow's leadership in healthspan science.

 

Financial Overview

 

As of 30 June 2025, the Group had cash reserves of £279,445 (31 December 2024: £278,682) which has been derived from equity fundraising of £868,698 (net of expenses) during H1 2025. The Company remains debt free.

 

Administration expenses for 30 June 2025 totalled £982,725 (30 June 2024: £1,316,368), which primarily consisted of research and development costs of £665,862 (30 June 2024: £938,109), legal and professional fees totalling £156,094 (30 June 2024: £90,654) and Directors' fees of £55,272 (30 June 2024: £178,656).

 

Other Comprehensive Income was charged with a translation loss of £31,075 (30 June 2024: £8,652) upon converting the Subsidiary's results for the period to GBP.

 

Future

 

Looking ahead, 2026 is expected to be a pivotal year as we move closer to clinical readiness in late-stage MASH, advance our ophthalmology programs in cornea and glaucoma, and deliver first efficacy data from our canine trial. By integrating progress across both human and veterinary health, Genflow is building a comprehensive platform capable of delivering meaningful innovations in longevity and age-related disease.

 

The Company is also working hard to secure further non-dilutive funding and has received support from the Wallonia Region to advance GF-1002 through the next stage of development. We look forward to updating shareholders further when the grant process has been finalised and payment has been received.

 

On behalf of the Board, I would like to thank our shareholders, partners, and dedicated team for their continued support as we work to translate the science of SIRT6 into therapies that improve lives.

 

Tamara Joseph

Chairman

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain

 

 

Contacts

Genflow Biosciences
Harbor Access
Dr Eric Leire, CEO
Jonathan Paterson, Investor Relations
+32-477-495-881
+1 475 477 9401
Jonathan.Paterson@Harbor-access.com

 

Corporate Brokers
Capital Plus Partners Ltd
Jon Critchley, +44207 432 0501


 

About Genflow Biosciences

 

Founded in 2020, Genflow Biosciences Plc. (LSE:GENF) (OTCQB:GENFF), a biotechnology company headquartered in the UK with R&D facilities in Belgium, is pioneering gene therapies to decelerate the aging process, with the goal of promoting longer and healthier lives while mitigating the financial, emotional, and social impacts of a fast-growing aging global population. Genflow's lead compound, GF-1002, works through the delivery of a centenarian variant of the SIRT6 gene which has yielded promising preclinical results. Genflow's 12-month proof-of-concept clinical trial evaluating their SIRT6-centenarian gene therapy in aged dogs began in March 2025. Other programs planned for 2025, include a clinical trial that will explore the potential benefits of GF-1002 in treating MASH (Metabolic Dysfunction-Associated Steatohepatitis), the most prevalent chronic liver disease for which there is no effective treatments. Please visit www.genflowbio.com  and follow the Company on LinkedIn and X.

 

Consolidated Statement of Financial Position

As at 30 June 2025

Note
Unaudited
30 June 2025
Audited
31 December 2024
Unaudited
30 June 2024 Restated
Non-current assets
Property, plant & equipment
1,528
2,067
3,456
Total non-current assets
1,528
2,067
3,456
Current assets
Trade and other receivables
6
187,408
105,159
207,791
Cash and cash equivalents
279,445
278,682
1,139,859
Total current assets
466,853
383,841
1,347,650
Total assets
468,381
385,908
1,351,106
Current liabilities
Trade and other payables
7
771,384
788,916
718,983
Total current liabilities
771,384
788,916
718,983
Total liabilities
771,384
788,916
718,983
Net Assets/(Liabilities)
(303,003)
(403,008)
632,123
Equity
Share capital
8
136,064
104,912
104,912
Share premium
8
5,667,921
4,830,375
4,837,340
Other reserves
9
221,730
252,805
217,995
Retained earnings
(6,328,718)
(5,591,100)
(4,528,124)
Total equity
(303,003)
(403,008)
632,123


 

The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2025 and were signed on its behalf by:

 

Eric Leire

Chief Executive Officer

 

 

Consolidated Statement of Comprehensive Income

For The Six Months Ended 30 June 2025

 

Notes
Unaudited
6 Months ended
30 June
2025
Audited
12 Months
ended
31 December 2024
Unaudited
6 Months ended
30 June
2024
Other operating income
245,107
320,471
792,109
Administrative expenses
4
(982,725)
(1,907,706)
(1,316,368)
Operating loss
(737,618)
(1,587,235)
(524,259)
Finance costs
-
-
-
Loss before tax
(737,618)
(1,587,235)
(524,259)
Tax expense
-
-
-
Loss for the period / year attributable to owners of the parent
(737,618)
(1,587,235)
(524,259)
Other Comprehensive loss:
Items that could be reclassified to profit or loss
Exchange differences on translation of foreign operations
(31,075)
20,934
(8,652)
Total comprehensive loss for the period / year attributable to owners of the parent
(768,693)
(1,566,301)
(532,911)
Loss per share (pence) from continuing operations attributable to owners of the Parent - Basic & Diluted
5
(0.192)
(0.475)
(0.165)

 

 

Consolidated Statement of Cash Flows

For The Six Months Ended 30 June 2025

 

Unaudited
6 Months ended
30 June 2025
Audited
12 Months ended
31 December 2024
Unaudited
6 Months ended
30 June 2024
Cash flows used in operating activities:
Loss after taxation
(737,618)
(1,587,235)
(524,259)
Adjustments for:
Depreciation & amortisation
597
1,179
605
Share based payments
-
-
1,741
(Increase)/decrease in trade and other receivables
(82,249)
264,524
168,964
Increase/(decrease) in trade and other payables
(17,532)
239,259
154,185
Net cash outflow from operating activities
(836,802)
(1,082,273)
(198,764)
Cash flow used in investing activities:
Purchase of property, plant & equipment
-
-
(743)
Net cash used in investing activities
-
-
(743)
Cash flow from financing activities:
Proceeds from issue of shares net of issue costs
868,698
656,635
663,600
Net cash generated from financing activities
868,698
656,635
663,600
Net increase/(decrease) in cash and cash equivalents
31,896
(425,638)
464,093
Cash and cash equivalents at beginning of period / year
278,682
683,974
683,974
FX on cash
(31,133)
20,346
(8,208)
Cash and cash equivalents at end of period
279,445
278,682
1,139,859


 

 

Consolidated Statement of Changes In Equity

For The Six Months Ended 30 June 2025

 

Share capital
Share
premium
Other reserves
Retained earnings/loss
Total
Unaudited- 30 June 2025
At 1 January 2025
104,912
4,830,375
252,805
(5,591,100)
(403,008)
Loss of the period
-
-
-
(737,618)
(737,618)
Exchange differences on translation of foreign operations
-
-
(31,075)
-
(31,075)
Total comprehensive loss for the period
-
-
(31,075)
(737,618)
(768,693)
Transactions with owners
Issue of ordinary shares
31,152
902,932
-
-
934,084
Cost of capital - share issue costs
-
(65,386)
-
-
(65,386)
Total Transactions with owners
31,152
837,546
-
-
868,698
At 30 June 2025 (unaudited)
136,064
5,667,921
221,730
(6,328,718)
(303,003)
Unaudited- 30 June 2024
At 1 January 2024 - Restated
87,752
4,190,900
224,906
(4,003,865)
499,693
Loss of the period
-
-
-
(524,259)
(524,259)
Exchange differences on translation of foreign operations
-
-
(8,652)
-
(8,652)
Total comprehensive loss for the period
-
-
(8,652)
(524,259)
(532,911)
Transactions with owners
Issue of ordinary shares
17,160
697,840
-
-
715,000
Cost of capital - share issue costs
-
(51,400)
-
-
(51,400)
Share based payments
-
-
1,741
-
1,741
Total Transactions with owners
17,160
646,440
1,741
-
665,341
At 30 June 2024 (unaudited)
104,912
4,837,340
217,995
(4,528,124)
632,123
Audited- 31 December 2024
At 1 January 2024 - Restated
87,752
4,190,900
224,906
(4,003,865)
499,693
Loss for the year
-
-
-
(1,587,235)
(1,587,235)
Other comprehensive income
Exchange differences on translating foreign operations
-
-
20,934
-
20,934
Total comprehensive loss for the period
-
-
20,934
(1,587,235)
(1,566,301)
Transactions with owners
Issue of ordinary shares
17,160
697,840
-
-
715,000
Cost of capital - share issue costs
-
(58,365)
-
-
(58,365)
Options granted during the year
-
-
6,965
-
6,965
Total Transactions with owners
17,160
639,475
6,965
-
663,600
At 31 December 2024 (audited)
104,912
4,830,375
252,805
(5,591,100)
(403,008)

 

1.             Reporting Entity 

 

Genflow Biosciences Plc (the "Company") is a company domiciled in the United Kingdom. The consolidated interim financial information as at, and for the six months ended, 30 June 2025 comprise the results of the Company and its subsidiaries (together referred to as the "Group").

 

The consolidated financial statements of the Group as at, and for the year ended, 31 December 2024 are available upon request from the Company's registered office at 6 Heddon Street, London, W1B 4BT or at genflowbio.com.

 

2.             BASIS OF PREPARATION

 

The financial information of the Group for the 6 months ended 30 June 2025 was approved and authorised for issue by the Board of the Company on 29 September 2025. The interim results have not been audited. This financial information has been prepared in accordance with the accounting policies that are expected to be applied in the Report and Accounts of the Company for the year ended 31 December 2025 and are consistent with the recognition and measurement requirements of IFRS as adopted by the United Kingdom. The comparative information for the full year ended 31 December 2024 is not the Group's full annual accounts for that period but has been derived from the annual financial statements for that period. 

 

The consolidated financial information incorporates the results of the Group as at 30 June 2025. The corresponding amounts are for the year ended 31 December 2024 and for the 6-month period ended 30 June 2024.

 

The Group financial information is presented in Pound Sterling and values are rounded to the nearest pound. 

 

The same accounting policies, presentation and methods of computation are followed in the interim consolidated financial information as were applied in the Group's latest annual audited financial statements except for those that relate to new standards and interpretations effective for the first time for periods beginning on (or after) 1 January 2025 and will be adopted in the 2025 annual financial statements. 

 

A number of new standards and amendments became effective on 1 January 2025 and have been adopted by the Group. None of these standards have materially affected the Group.

 

3.             GOING CONCERN

 

The preparation of financial information requires an assessment on the validity of the going concern assumption. The Company successfully raised £0.9 million (before expenses) through the allotment and issue of new ordinary shares during the period. Further funding will be required by the Company in order to execute the Group's research and development strategy and to continue to meet its financial commitments. The Company has various funding options currently available to it and is assessing their terms in order to select the option which is most favourable to the Company and its shareholders. At 30 June 2025, the Group is in a net liability position totalling £303,003.

 

The Directors are of the opinion that the Company has adequate working capital to execute its operations for the present time and expected to cover working capital for a period which will allow for further fundraising. It is confident in its ability to access additional financing over the next 12 months. The Directors, therefore, have made an informed judgement, at the time of approving these financial statements, that there is a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. As a result, the Directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements, however, notes that, due to the timing of securing additional funding, a material uncertainty related to going concern exists. This is not uncommon with companies in the biotech sector in a similar stage of its development to the Company.

 

 

4.             EXPENSES BY NATURE

Unaudited
6 Months ended
30 June 2025
£
Audited
Year ended
31 December 2024
£
Unaudited
6 Months ended
30 June 2024
£
Directors' fees
55,272
325,793
178,656
Directors' pensions
-
1,306
713
Directors' social security contributions
27,059
19,653
5,069
Fees payable to the Company's auditors for the audit of the Parent Company and group financial statements
-
57,500
5,000
Professional, legal and consulting fees
156,094
188,522
90,654
PR and marketing
40,779
97,049
48,535
Accounting related services
14,713
6,551
3,780
Insurance
10,829
22,347
19,595
Office and administrative expenses
5,027
16,310
10,777
IT and software services
2,385
7,893
7,377
Travel and entertainment
2,038
6,403
927
Research and development costs
665,862
1,151,461
938,109
Share based payments
-
-
1,741
Finance costs
51
-
-
Depreciation
597
5,714
610
Other expenses
2,019
1,204
4,825
Total administrative expenses
982,725
1,907,706
1,316,368

 

 

5.             LOSS PER SHARE

 

 

Unaudited
6 Months ended
30 June
2025
£
Audited
Year ended
31 December 2024
£
Unaudited
6 Months ended
30 June
2024
£
Net loss for the year from continued operations attributable to equity shareholders
737,618
1,587,235
524,259
Weighted average number of shares for the period/year
384,282,436
334,460,024
318,085,714
Basic loss per share for continued operations (expressed in pence)
(0.192)
(0.475)
(0.165)

 

 

6.                TRADE AND OTHER RECEIVABLES

 

Unaudited
6 Months ended
30 June
2025
£
Audited
Year ended
31 December 2024
£
Unaudited
6 Months ended
30 June
2024
£
VAT receivable
65,606
31,757
46,011
Prepayments
38,708
68,653
158,748
Other receivables
83,094
4,749
3,032
187,408
105,159
207,791

 

Trade and other receivables are all due within one year. The fair value of all receivables is the same as their carrying values stated above. These assets, excluding prepayments, are the only form of financial asset within the Group, together with cash and cash equivalents. There are no trade receivables therefore an aging analysis has not been provided. 

 

 

 

7.                TRADE AND OTHER PAYABLES

Unaudited
6 Months ended
30 June
2025
£
Audited
Year ended
31 December 2024
£
Unaudited
6 Months ended
30 June
2024 - Restated
£
Trade payables
573,297
368,897
668,443
Accruals
12,646
72,302
32,841
Other payables
185,441
347,717
17,699
771,384
788,916
718,983

All trade and other payables are due for payment within twelve months. Trade payables are settled within normal commercial terms, usually between 30-60 days.

 

8.             Share capital AND SHARE PREMIUM

 

 

Company
Number of shares
Ordinary shares
£
Share premium
£
Total
£
Issued and fully paid
At 1 January 2024
292,506,618
87,752
4,190,900
4,278,652
Issue of new shares - 9 April 2024
57,200,000
17,160
697,840
715,000
Cost of Capital - 9 April 2024
-
-
(58,365)
(58,365)
At 30 December 2024
349,706,618
104,912
4,830,375
4,935,287
At 1 January 2025
349,706,618
104,912
4,830,375
4,935,287
Issue of new shares
103,841,324
31,152
902,932
934,084
Cost of Capital
-
-
(65,386)
(65,386)
At 30 June 2025
453,547,942
136,064
5,667,921
5,803,985

 

On 10 April 2025, the Company issued and allotted 41,341,324 new Ordinary Shares at a price of 0.0105 pence per share for gross proceeds of £434,084 (excluding expenses).

 

On 15 May 2025, the Company issued and allotted 62,500,000 new Ordinary Shares at a price of 0.008 pence per share for gross proceeds of £500,000 (excluding expenses).

 

 

9.             Share WARRANT reserve

 

The balance held in the share options reserve relates to the fair value of the share warrants that have been charged to the profit or loss since adoption of IFRS 2 'Share-based payment'.

 

Warrants:

 

At 30 June 2025, 90,360,000 warrants over shares were exercisable (31 December 2024: 27,860,000 warrants over shares were exercisable).

 

62,500,000 warrants were granted during the year (31 December 2024: 27,860,000) pursuant to the terms of a placing of shares.

 

During the period ended 30 June 2025, no warrants were exercised (year ended 31 December 2024: No warrants were exercised) and no warrants expired in the period (year ended 31 December 2024: No warrants expired).

 

£Nil was charge to loss for the year in respect of outstanding warrants (2024: Nil).

 

 

10.          COMMITMENTS

 

The commitments stated in the Group's Annual Financial Statements for the year ended 31 December 2024 remain in place.

 

 

11.          EVENTS AFTER THE REPORTING DATE

 

There were no events after the reporting period.

 

 

DISCLAIMER

The contents of this announcement have been prepared by, and are the sole responsibility of, the Company.

This announcement may contain forward-looking statements. The forward-looking statements include, but are not limited to, statements regarding the Company's or the Directors' expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statement that refers to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "possible", "potential", "predict", "project", "seek", "should", "would" and similar expressions, or in each case their negatives, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current expectations and assumptions regarding the Company, the business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements are not guarantees of future performance and the Company's actual financial condition, actual results of operations and financial performance, and the development of the industries in which it operates or will operate, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Company's financial condition, results of operations and the development of the industries in which it operates or will operate, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of financial condition, results of operations or developments in subsequent periods. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global, political, economic, social, business, technological, competitive, market and regulatory conditions.

Any forward-looking statement contained in this announcement applies only as of the date of this announcement and is expressly qualified in its entirety by these cautionary statements. Factors or events that could cause the Company's actual plans or results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions or circumstances on which any forward-looking statement contained in this announcement is based, unless required to do so by applicable law, the Prospectus Regulation Rules, the Listing Rules, the Disclosure Guidance and Transparency Rules of the FCA or the UK Market Abuse Regulation.

 

-Ends-

 

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