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Lipoxen PLC (XEN)

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Thursday 19 March, 2009

Lipoxen PLC

Lipoxen enters into agreement

RNS Number : 1025P
Lipoxen PLC
19 March 2009

Lipoxen PLC

('Lipoxen' or 'the Company')

Lipoxen enters into agreement with Glide Pharma 

Collaboration to investigate delivery of SuliXen, Lipoxen's long-acting insulin candidate for Type 1 and Type 2 diabetes, using the Glide Solid Dose Injector technology

London, UK, 19 March 2009 - Lipoxen PLC (AIM:LPX), a bio-pharmaceutical company specialising in the development of high value differentiated biologicals, vaccines and siRNA delivery, announces today that it has entered into an agreement with Glide Pharma, a specialty pharmaceutical company developing products based on its proprietary needle-free drug delivery technology, the Glide SDI[TM]. The agreement is to investigate the delivery of Lipoxen's long-acting proprietary insulin, SuliXen, which is a conjugate of insulin with polysialic acid, using the Glide SDI. 

SuliXen has already shown to be safe and well tolerated in a Phase I study and the long-acting formulation of SuliXen makes this approach very attractive for the administration of insulin. This needle-free injection could also be a key competitive advantage for SuliXen as it would meet the clear demand from patients and physicians for improved forms of insulin, which have, in particular, more patient convenience.

Under the terms of the agreement Lipoxen will provide Glide Pharma with SuliXen which Glide Pharma will then incorporate into its proprietary Glide SDI, needle-free, drug delivery technology which offers the prospect of a safe, patient friendly, solution for the administration of drugs and vaccines. Financial details were not disclosed.

M. Scott Maguire, CEO of Lipoxen, said:

'We are delighted to be able to announce this collaboration with Glide Pharma. SuliXen's reduced dosing regime already suggests it has the potential to become a recognised competitor in the $12 billion insulin market. Couple this with a less invasive, easy to use, patient friendly delivery system, and we believe you have a product that may revolutionalise insulin treatment for patients and treating physicians in the future.' 

'This transaction highlights our ability to execute collaboration deals with very real commercial potential. The needle-free delivery will open up a wide range of therapeutic options for our candidates and would provide further validation of the possible wide application of Lipoxen's proprietary PolyXen molecules. This is a very exciting time for Lipoxen, and its technologies, and I am confident this collaboration will produce additional value for shareholders.' 

Dr Charles Potter, CEO of Glide Pharma, said: 

'We are very pleased to be collaborating with Lipoxen on a long-acting insulin product. With an estimated 170 million people worldwide suffering from diabetes this product could make a real impact on the management of diabetes in the future, particularly in type 2 diabetes.' 

- ENDS -

Enquiries - Lipoxen PLC

Lipoxen PLC

M. Scott Maguire, Chief Executive Officer

+44 (0)20 7691 3583 

Glide Pharma

+44 (0) 8700 853 700

Charles Potter, CEO

Teathers (nominated adviser)

Claes Spång 

+44 (0)20 7426 9000

Citigate Dewe Rogerson

+44 (0)20 7638 9571

David Dible / Heather Keohane

Notes to Editors on Lipoxen

Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the development of high value differentiated biologicals, vaccines and oncology drugs based on its proprietary delivery platforms. Lipoxen's PolyXen delivery technology is designed to improve the stability, biological half-life and immunologic characteristics of therapeutic proteins naturally Lipoxen currently has two products in clinical development using PolyXen, SuliXen, a long acting insulin and ErepoXen a long-acting erythropoietin (EPO). Phase I results with these novel products have shown that they have potential to deliver important dosing advantages to product currently on the market. Both SuliXen and ErepoXen are addressing multi billion dollar markets. Further products under development include improved formulations of important biologicals such as G-CSF, and Interferon-alpha. 

Lipoxen has a second naturally-derived proprietary delivery technology, ImuXen[R] and a related liposomal technology for enhancing the efficacy and safety of various vaccines including multivalent Hepatitis B-E and pneumococcal vaccines . The Company's proprietary delivery technologies are attracting significant interest and Lipoxen is currently co-developing products with the Serum Institute of India Limited (one of the world's leading vaccine companies, India's largest biotech company and a major shareholder in Lipoxen) and has license agreements in place with Baxter International and Schering Plough . Lipoxen has received funding from the International AIDS Vaccine Initiative (IAVI) to assess the potential of its ImuXen technology to develop an improved HIV vaccine. The Company is also working in collaboration on improved vaccine formulations that could be suitable for refrigeration free distribution, which would enable vaccines to be much more widely distributed to people in the developing world.

Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange in January 2006..

This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims', 'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Among the important factors that could cause the Company's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to The Company's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.


Notes to Editors on Glide Pharma 

Glide Pharma is a specialty pharma company focused on easy, safe and convenient solid dose injection of therapeutics and vaccines. Using its proprietary Glide SDI[TM] (Solid Dose Injector) system, Glide Pharma is building a pipeline of in-house and partnered products covering small molecules, peptides, proteins and vaccines. Glide Pharma is currently engaged in six collaborations with pharmaceutical partners.

The Glide SDI is an innovative needle-free drug delivery system that allows the injection of drugs, vaccines and other pharmaceutical ingredients in a solid dosage form.  The drug is formulated as a tiny pointed rod of pharmaceutical material that is pushed through the skin into the underlying tissue where it dissolves releasing the drug into the patient's bloodstream.  The Glide SDI comprises a reusable, spring powered actuator and a pre-filled, disposable drug cassette. The system is very easy to use making it ideal for the self administration of drugs in the home environment. In the clinic, volunteers overwhelmingly stated that they preferred an injection with the Glide SDI to an injection with a standard needle and syringe.  Storing drugs in a solid dosage form typically makes them more stable and therefore refrigeration may not be essential, as is often the case with liquid formulations.  The solid dosage form also enables immediate or controlled release of the drug into the blood stream, thus optimising the drug release profile or reducing the need for multiple injections.

This information is provided by RNS
The company news service from the London Stock Exchange