Veloxis is exposed to certain risks. Some of these may significantly affect our ability to execute our strategy. We categorize these as critical risks–and we have a program in place to ensure that we proactively identify, manage and mitigate them.
Contrary to the majority of biotechnology and pharma companies, Veloxis is less susceptible to development risks. Veloxis is currently working solely with drug substances already approved and being marketed by originator companies. This substantially decreases typical development risks such as lack of efficacy or unacceptable toxicological findings that normally account for more than 90% of the attrition rates in the pharmaceutical industry.
Veloxis is exposed to critical risks within such areas as research and development, commercialization, financial management, currency exposure, legal affairs and in relation to the financial reporting process. As required under the Danish Financial Statements Act, Section 107b, we have on our webpage http://www.veloxis.com/governance.cfm. included Veloxis Pharmaceuticals' statutory report on Corporate Governance, which describes our risk management processes in greater details and how we manage with these risks.