Option over new sulforaphane analogues
Evgen Pharma plc
("Evgen" or "the Company")
Option over new sulforaphane analogues
Evgen Pharma plc (AIM: EVG), the clinical stage drug development company developing sulforaphane-based medicines for the treatment of multiple diseases, announces a Memorandum of Understanding with the University of Seville ('US'), Consejo Superior de Investigaciones Científicas ('CSIC') and Fundación Pública Andaluza Progreso y Salud on behalf of the Institute of Biomedicine of Seville, for second generation sulforaphane analogues.
Under the agreement Evgen has signed an exclusive option to license new, novel sulforaphane analogues synthesised by these Spanish institutions, subject to a fixed evaluation period. These analogues have the potential for differentiation from SFX-01 in terms of product formulation. They may also have the potential for differential activity against targets that Evgen is pursuing such as STAT3, SHP2 and Nrf2. As such, they could constitute follow-on and/or alternative products which would expand Evgen's development and partnering opportunities.
If the option is exercised it would expand substantially Evgen's preclinical pipeline of sulforaphane analogues. Analogues from an existing license from US and CSIC are currently undergoing further screening against relevant targets. The current option will be exercised should the Company's technical evaluation be positive.
Dr Huw Jones, Chief Executive Officer of Evgen Pharma, said: "I am delighted that we are extending our collaboration with the CSIC and University of Seville, and the opportunity this gives us to broaden our sulforaphane-based drug pipeline. If differentiation is demonstrated in the laboratory, we then have considerable potential to target diseases where one of the key molecular targets for sulforaphane is more relevant than others, enhancing our pipeline substantially."
Enquiries:
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Evgen Pharma plc www.evgen.com |
via Walbrook |
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Dr Huw Jones, CEO |
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Richard Moulson, CFO |
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finnCap www.finncap.com |
+44 (0)20 7220 0500 |
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Geoff Nash / Teddy Whiley (Corporate Finance) |
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Alice Lane (ECM) |
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Walbrook PR |
+44 (0)20 7933 87870 or evgen@walbrookpr.com |
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Anna Dunphy / Phillip Marriage |
+44 (0)7876 741 001 / + 44 (0)7867 984 082 |
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About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company developing sulforaphane based medicines for the treatment of multiple diseases. The Company's core technology is Sulforadex®, a method for synthesising and stabilising the naturally occurring compound sulforaphane and novel proprietary analogues based on sulforaphane. The lead product, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin.
Clinical data from the Company's open-label Phase II STEM trial has shown that SFX-01 can halt the growth of progressing tumours in patients with oestrogen-positive (ER+) metastatic breast cancer, and in some cases significantly shrink the tumour, whilst causing very few side effects. SFX-01 has demonstrated efficacy in a Phase II trial for advanced metastatic breast cancer. It has been used to treat over 200 patients in clinical trials and is well-tolerated with predominately mild side-effects.
The Company has its headquarters at Alderley Park, Cheshire, and its registered office is at the Liverpool Science Park, Liverpool. It is listed on the AIM market of the London Stock Exchange and trades under the ticker symbol EVG.
For further information, please visit: www.evgen.com
For research on the Company, please visit: http://evgen.com/investors/analyst-coverage/
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