Malin Corporation PLC Mycovia early completion of Phase 3 enrolment (1887T)
November 13 2019 - 1:01AM
UK Regulatory
TIDM0Y71
RNS Number : 1887T
Malin Corporation PLC
13 November 2019
Malin Corporation plc
Mycovia Pharmaceuticals announces early completion of enrolment
for both ongoing global Phase 3 clinical trials for VT-1161 for the
treatment of RVVC
Dublin-Ireland, 13 November 2019: Malin Corporation plc.
(Euronext Growth Dublin:MLC) ("Malin"), a company investing in
highly innovative life sciences companies, is pleased to note that
Mycovia Pharmaceuticals ("Mycovia"), a company in which Malin's
Priority Asset, Viamet Pharmaceuticals ("Viamet"), has an economic
interest, has announced early completion of enrolment for both of
its ongoing global Phase 3 clinical trials for VT-1161 (VIOLET),
advancing timelines for the company's pivotal studies.
VT-1161, an oral antifungal product candidate, is being
developed for the treatment of recurrent vulvovaginal candidiasis
("RVVC"), a debilitating chronic infectious condition that affects
nearly 138 million women globally. The ongoing Phase 3 clinical
trials are being conducted at more than 160 sites in 11 countries
with top-line data expected in the second half of 2020.
This news follows the announcement by Mycovia earlier this year
of strategic partnerships with Jiangsu Hengrui Medicine to develop
and commercialise VT-1161 in China for the treatment or prevention
of a range of fungal conditions and Gedeon Richter plc. for the
commercialisation and manufacture of VT-1161 for RVVC in Europe,
Latin America, Australia, Russia and other CIS countries. Under the
terms of both agreements, Mycovia is eligible to receive milestone
payments related to clinical, regulatory and commercial success of
VT-1161.
Malin owns approximately 15% of Viamet and carried its
investment in Viamet at a fair value estimate of EUR79.5 million at
30 June 2019 under International Private Equity and Venture Capital
Valuation guidelines.
A copy of Mycovia's press release is available to view here.
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in
highly innovative life sciences companies. Its purpose is to create
shareholder value through the application of long-term capital and
operational and strategic expertise to a diverse range of global
healthcare businesses. Malin has a focus on innovative businesses
underpinned by exceptional science and works with its investee
companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and
domiciled in Ireland and listed on the Euronext Growth Dublin. For
more information visit www.malinplc.com
About Mycovia
Mycovia Pharmaceuticals has a passion for developing
breakthrough therapies in areas of unmet medical need, with an
initial focus in women's health. Its lead product candidate,
VT-1161, is a novel, oral therapy for RVVC that is designed to have
greater selectivity, fewer side effects and improved efficacy than
current treatment options. VT-1161 received FDA Qualified
Infectious Disease Product and Fast-Track designations to support
its potential as the first FDA-approved treatment for RVVC. Mycovia
also recognises that there is tremendous potential for its oral
fungal inhibitors to treat a range of multi-drug resistant fungal
pathogens. For more information, please visit www.mycovia.com.
For further information please contact:
Malin
Jessica Bergin, Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Davy Corporate Finance (Euronext Growth Adviser & Joint
Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Liberum (Joint Broker)
Bidhi Bhoma / Euan Brown
Tel: +44 (0) 20 3100 2000
Consilium Strategic Communications
Mary-Jane Elliott / Chris Welsh
Tel: +44 (0)20 3709 5700
malin@consilium-comms.com
Powerscourt (Irish media enquiries)
Jack Hickey
Tel: +353 83 448 8339
malin@powerscourt-group.com
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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