Series B Fund Raise by partner, Stalicla SA
Evgen Pharma plc
("Evgen" or "the Company" or "the Group")
Evgen Notes First Closing of Series B Fund Raise by Partner, Stalicla SA
Alderley Park, UK - 16 January 2024: Evgen Pharma plc (AIM: EVG, Evgen), a clinical stage drug development company developing sulforaphane-based medicines, notes that Stalicla SA, its partner in autism spectrum disorder (ASD) and other neurodevelopmental disorders has announced that it has raised $17.4m inclusive of a credit facility to support programmes on STP1 their first asset in Autism Spectrum Disorder (ASD) and a further asset in Substance Use Disorders (SUD) together with a biosampling and patient identification study in ASD.
Evgen continues to work with Stalicla on delivery of a milestone payment for SFX-01 (Stalicla's STP2). The companies are engaged in analysis and interpretation of Evgen's recent Phase 1b healthy volunteer PK/PD study and the implications for a future Phase 2 trial in ASD. The Company will provide updates on the status of the programme in due course and has not anticipated any milestone payments from Stalicla in its financial forecasting.
Dr Huw Jones, Evgen CEO commented:
"We extend our congratulations to Stalicla on this round of financing and look forward to continuing discussions on SFX-01 in ASD. In the meantime we continue to advance our internal programme in glioblastoma with the Erasmus medical centre in Rotterdam, NL and our pre-clinical programmes in rhabdomyosarcoma, glioblastoma, bowel cancer and breast cancer with our leading academic collaborators."
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Enquiries:
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Evgen Pharma plc |
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Cavendish (Nominated Advisor and Broker) |
+44 20 7220 0500 |
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Instinctif Partners Melanie Toyne-Sewell / Jack Kincade |
+44 207 457 2020 |
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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 highly biologically active compound sulforaphane and novel proprietary analogues based on sulforaphane.
The Company's lead asset, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin and has undergone clinical trials for oestrogen-positive (ER+) metastatic breast cancer and recently a Phase 1b study of the Company's new enteric coated tablet formulation. The FDA has granted Orphan Drug status to SFX-01 in malignant glioma. SFX-01 will be investigated initially in this indication as an investigator sponsored study in the Netherlands supported by a substantial non-dilutive grant.
The Company also has a wide number of collaborations with leading academic centres in the UK, Europe and the US as part of the continuing strategy to build the scientific data for the compound. Recently, Evgen completed an out-licensing transaction with Stalicla SA, a Swiss specialist company in neurodevelopmental disorders, commencing with autism spectrum disorder. The deal, if successful, will generate milestone payments of $160.5m and a double-digit royalty on sales.
The Company has its headquarters and registered office at Alderley Park, Cheshire. It is listed on AIM in London and trades under the ticker symbol EVG.
For further information, please visit: www.evgen.com.
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