Result of Annual General Meeting & Strategy Update

RNS Number : 1066N

Destiny Pharma PLC

27 May 2022

 

Destiny Pharma plc

("Destiny Pharma" or "the Company")

Result of Annual General Meeting and Strategy Update

Brighton, United Kingdom - 27 May 2022 - Destiny Pharma plc (AIM: DEST), a clinical stage innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections, announces that all resolutions proposed to shareholders at the Annual General Meeting held earlier today were duly passed.

The full text of each resolution was included in the notice of the meeting which was made available on the Company's website and posted to shareholders on 27 April 2022. The results for the resolutions will shortly be available on the Investors' section of the Company's website, www.destinypharma.com.

Nick Rodgers, Chair of Destiny Pharma, stated: "Destiny Pharma is in a very strong position having two late-stage assets that have both delivered excellent Phase 2 data and are derived from two totally different technologies. This diversification and the existing robust data sets greatly reduce the risk inherent in drug development and biotechnology company pipelines.

We are on track to achieve our key strategic targets for our two lead programmes, XF-73 nasal and NTCD-M3. Discussions are ongoing with the US and EU regulatory authorities which will allow us to finalise the Phase 3 plans for XF-73 nasal for the prevention of post-surgical S. aureus infections. Active discussions regarding the out-licensing of our lead asset NTCD-M3 targeting the prevention of recurrent C. difficile gut infections are progressing well.

Our Senior Management Team has recently been strengthened with the appointment of an experienced Chief Medical Officer and we have also expanded the Board's skills through the appointment of new Non-Executive Directors.

The macroeconomic backdrop is challenging and financial markets have had a tough start to the year, but Destiny Pharma is in a strong position to deliver our strategy and develop our novel products that prevent serious infections. We look forward to reporting further progress in the rest of the year."

ENDS

For further information, please contact: 

Destiny Pharma plc

Neil Clark, CEO / Shaun Claydon, CFO

[phone]

[e-mail]

Optimum Strategic Communications

Mary Clark / Manel Mateus / Vici Rabbetts

[phone]

[e-mail]

finnCap Ltd (Nominated Advisor and Broker)

Geoff Nash / Kate Bannatyne / George Dollemore, Corporate Finance

Alice Lane / Nigel Birks / Harriet Ward, ECM

[phone]

MC Services AG

Anne Hennecke / Andreas Burckhardt

[phone]

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and XF-73 nasal gel, which has recently completed a positive Phase 2b clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SPOR-COV, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF research projects.

For further information, please visit https://www.destinypharma.com

Forward looking statements

Certain information contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance, constitutes "forward-looking statements". These forward looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks" "could" "targets" "assumes" "positioned" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group's results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the company believe that the expectations reflected in these statements are reasonable, but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group's control. Forward looking statements are not guarantees of future performance. Even if the Group's actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods.

 

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