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Lipoxen PLC (XEN)

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Tuesday 23 June, 2009

Lipoxen PLC

Evaluation Agreement

RNS Number : 3123U
Lipoxen PLC
23 June 2009
 



For immediate release 

23 June 2009


Lipoxen plc

('Lipoxen' or 'the Company')


New Evaluation Agreement Signed with Major Pharma Company


~ Large Pharma Collaborations Now Running on All Three Lipoxen Technology Platforms ~


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 signed a new technology evaluation agreement ('the Agreement') with an undisclosed leading global pharmaceutical company ('the Pharma Company'), for the use of Lipoxen's siRNAblate gene silencing technology platform in combination with the Pharma Company's target siRNA.


Under the Agreement, the Pharma Company will fund and execute a structured programme to evaluate and analyse the effectiveness of combining the siRNAblate technology with the Pharma Company's siRNA, with the aim of enhancing efficacy of the siRNA via improved delivery. This programme mirrors evaluation experiments with siRNA that Lipoxen has already successfully conducted and replicated in its own laboratories. 


The evaluation programme is expected to be completed by the Pharma Company in Q3 2009. If the evaluation is successful, the Agreement may progress to a full development and licensing agreement.


Commenting on the Agreement, M. Scott Maguire, CEO of Lipoxen, said: 'Lipoxen now has collaborations with some of the world's largest pharmaceutical companies across all three of our technology platforms. We are confident that the completion of this evaluation programme by a well known global pharmaceutical company will lead to further work on siRNA delivery, and potentially to a licensing deal.' 


- Ends -

For further information please contact:


Lipoxen plc

+44 (0)20 7389 5015 

M. Scott Maguire, Chief Executive Officer




Singer Capital Markets (nominated adviser)

+44 (0)20 3205 7500

Jeff Keating / Claes Spång 




Noble & Company

+44 (0) 20 7763 2200 

John Llewellyn-Lloyd / Sam Reynolds  




Buchanan Communications

+44 (0)20 7466 5000

Mary-Jane Elliott, Lisa Baderoon, Rebecca Skye Dietrich, Catherine Breen



Notes for Editors


About Lipoxen

Lipoxen plc is a biopharmaceutical company focused on the development of new and improved biologic drugs and vaccines. Lipoxen has three proprietary patented technology platforms:


1) PolyXen - for extending the efficacy and half life of biologic drugs

2) ImuXen - for creating new vaccines and improving existing vaccines

3) SiRNAblate - for the delivery of siRNA


Lipoxen's technology is designed to improve the efficacy, safety, stability, biological half-life and immunologic characteristics of its products.  


Lipoxen has multiple drug and vaccine programmes in development. Two products are in clinical development, SuliXen, a long acting insulin and ErepoXen, a long-acting erythropoietin (EPO). Lipoxen's preclinical pipeline includes vaccines against HIV, influenza and malaria and Factor VIII through an exclusive license with Baxter, the global healthcare company.


The Company has a low-risk business model and out-licenses its proprietary technologies to biopharmaceutical companies that have strong manufacturing and marketing capabilities. Lipoxen currently has commercial agreements with some of the world's leading biotechnology and pharmaceutical companies including Baxter, Schering-Plough, Sanofi-Aventis, the Serum Institute of India Limited, Genentech, Amgen and Genzyme.  Furthermore, Baxter led the £2.9 million fundraising that the Company announced in May 2009, with a US$1 million investment.


Lipoxen, which was founded in 1997, now trades on the AIM Market of the London Stock Exchange under the ticker symbol LPX. More information can be found at the Company's website: www.lipoxen.com.



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