Kraków – Selvita SA CEO Pawel Przewiezlikowski announced at the end of July that the Polish drug development and drug discovery service firm is close to achieving profitability. After bagging EUR3.7m through an IPO on Warsaw’s NewConnect stock exchange, the company reported its financial figures. Revenues rose from EUR0.8m in 2009 to EUR2.2m last year. In the first quarters of 2009, 2010 and 2011, EDBITDA net loss dropped steadily – from EUR0.75m to EUR0.49m to EUR0.35m. Przewiezlikowski said he was very pleased with the growth of revenue, although R&D costs remained high. However, he believes those costs will reflect positively on future earnings due to the number and stage of Selvita’s candidate drugs.