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Lipoxen PLC (XEN)

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Wednesday 30 September, 2009

Lipoxen PLC

Appointed Lead for Vaccine Pr

RNS Number : 8934Z
Lipoxen PLC
30 September 2009
 



For immediate release

30 September 2009

 

Lipoxen plc

('Lipoxen' or 'the Company')

Lipoxen Appointed Lead for Vaccine Programme Grant


Lipoxen plc (AIM: LPX), a bio-pharmaceutical company specialising in the development of high-value differentiated biologicals, vaccines and siRNA delivery, is pleased to announce that the Technology Strategy Board, the Government organisation charged with driving UK innovation, has appointed Lipoxen as lead member of the grant consortium for its controlled-release nanoparticle vaccine research programme, which includes Lipoxen's influenza vaccine project.


Lipoxen's influenza vaccine project stems from work as part of a Technology Strategy Board-funded grant consortium with Cambridge Biostability Ltd (CBL)the Health Protection Agency (HPA) and Cambridge University for the development of controlled release nanoparticle vaccines. CBL entered into a Creditors Voluntary Liquidation in June 2009, following which Lipoxen have been appointed lead partner.


In April 2009, Lipoxen reported positive preclinical results for the delivery of a novel influenza vaccine formulation with enhanced immunogenicity. Lipoxen's patent-protected anhydrous influenza product brings to the research programme long term storage stability and the potential for cold chain free distribution, characteristics which are recognized as important for the development of vaccines for the developing world markets.


Since April, Lipoxen has continued to progress the influenza project. As lead partner Lipoxen will now be responsible for the overall management of the project which will include at least one other vaccine candidate originated by the UK's Health Protection Agency (UK HPA). The Multi-Imaging Centre at the University of Cambridge will provide comprehensive analytical support for the project using state of the art microscopic ultra-characterisation of the novel vaccine candidates.


The principal project milestones are as follows:


  • Completion of equipment installation and resource allocation

  • Completion of initial protective efficacy studies

  • Completion of definitive protective efficacy studies and challenge studies

  • Completion and submission of Final Report 


While the project could take as long as 12 months to complete, given the prospective importance of the Company's H1N1 influenza product candidate, Lipoxen plans to accelerate the programme as much as possible, and hopes to achieve completion in no more than 9 months from the restart of the project in early October.


Commenting on the Technology Strategy Board decision, M. Scott Maguire, CEO of Lipoxen, said: 


'Lipoxen is delighted to be appointed by the Technology Strategy Board as the lead member of the grant consortium working to develop controlled release nanoparticle vaccines


'The ability to achieve enhanced levels of immunity through better vaccines is important for seasonal flu, particularly when aiming to achieve good responses in the elderly. Equally, the ability to achieve adequate levels of immunity with lower dosages is important when considering the logistics of pandemic flu vaccine supply. 

 

- 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

Lisa Baderoon, 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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