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RNS Number : 0713O
Destiny Pharma PLC
25 January 2019
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Destiny Pharma plc
("Destiny Pharma" or "the Company")
Destiny Pharma awarded significant new grant funding up to
GBP1.6 million under new UK-China AMR programme
Two-year programme will research novel antimicrobial candidates
from the Company's XF drug platform for use against dermal and
ocular infections
Collaboration with Cardiff University and Tianjin Medical
University will aim to identify safe and efficacious compounds with
a reduced resistance profile
Brighton, United Kingdom - 25 January 2019 - Destiny Pharma
(AIM: DEST), a clinical stage biotechnology company focused on the
development of novel antimicrobial drugs, that addresses the global
problem of antimicrobial resistance (AMR), today announces it has
been awarded funding of up to GBP1.6 million from a collaboration
established under the UK-China AMR grant fund set up by Innovate UK
and the Department of Health and Social Care with the Chinese
Ministry of Science and Technology. The two-year project will
examine the use of the Company's novel XF drugs to prevent,
control, and eradicate life threatening bacteria or "superbugs"
without generating resistance. The research work will be carried
out by Destiny Pharma's team in collaboration with expert groups at
Cardiff University's School of Dentistry and College of Biomedical
and Life Sciences, led by Professor David Williams, and a team at
Tianjin Medical University, China.
Neil Clark, Chief Executive Officer of Destiny Pharma,
commented:
"We are very pleased that Innovate UK and the Department of
Health and Social Care have recognised the potential of Destiny
Pharma's research and drug platform. These newly awarded funds,
under the new UK--China collaboration, will help further explore
our XF drug platform in collaboration with expert teams at Cardiff
University and Tianjin Medical University. The research will
investigate the utility of our XF drug platform, especially in the
treatment of dermal and ocular infections. We are hopeful this
collaboration may help us identify additional clinical candidates
that are safe, effective and with a significantly reduced level of
antimicrobial resistance. Destiny Pharma is planning to complete
Phase 2 trials in its lead XF programme, XF-73, in 2019 and is
looking forward to identifying additional, novel drug candidates
through this exciting UK-China collaboration. Destiny Pharma
already has a China regional collaboration with our investor, China
Medical Systems, and we are delighted to expand our strong
connections in this significant market."
Professor David Williams, Cardiff University, added:
"The Microbial Diseases research group at Cardiff University is
delighted to bring its expertise to this exciting project. The
widespread emergence of antimicrobial resistance in recent years
has highlighted the need for alternative and effective
antimicrobial agents. We therefore feel that the XF drug platform
from Destiny Pharma provides timely and significant tools in our
armoury against antimicrobial resistance."
Destiny Pharma's XF-drugs have already shown great potential to
address antimicrobial resistance and combat bacterial biofilms in a
range of bacteria, including methicillin-resistant Staphylococcus
aureus (MRSA). Destiny Pharma is due to commence a key Phase 2b
study for XF-73, its lead asset, in 2019 for the prevention of for
the prevention of post-surgical staphylococcal infections.
Please follow the link below to view the press release from the
Department of Health and Social Care, Innovate UK, and UK Research
and Innovation.
https://www.gov.uk/government/news/uk-china-partnerships-against-antimicrobial-resistance-get-funding
Notes to Editor
About China-UK Industrial Research programme
The new China-UK Industrial Research programme seeks to extend
the knowledge base and activity profile of these novel drugs. This
will include study of multi-drug resistant (MDR), Gram negative and
positive, high priority bacterial pathogens in vitro, within
biofilms and within in vivo bacterial infection models. It will
also evaluate combining XF-drugs with existing antibiotics to
synergise and/or restore their efficacy against priority antibiotic
resistant bacteria. Data generated will help develop medicines that
address the growth of bacterial resistance either as a single drug
or restore efficacy of 'ineffective' antibiotics by combination
therapy. These new products represent a significant commercial
opportunity allowing the partners to expand investment in R&D
activities including an increased academic collaborations. In
addition, new combination drugs (incorporating a generic
antibiotic) could be competitively priced to enhance access to
effective, affordable drugs to healthcare service providers in low
and middle income countries, (LMICs).
About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative
biotechnology company focused on the development of novel medicines
from its XF platform that represent a new approach to the treatment
of infectious disease. These potential new medicines are being
developed to address the need for new drugs for the prevention and
treatment of life-threatening infections caused by
antibiotic-resistant bacteria, often referred to as "superbugs".
Tackling anti-microbial resistance has become a global imperative
recognised by the WHO and the United Nations, as well as the G7 and
the G20 countries. For further information, please visit
https://www.destinypharma.com
For further information, please contact:
Destiny Pharma plc
Neil Clark CEO
Shaun Claydon CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440
FTI Consulting Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0)20 3727 1000
Cantor Fitzgerald Europe (Nominated Adviser and Joint
Broker)
Philip Davies / Will Goode, Corporate Finance
Andrew Keith, Healthcare Equity Sales
+44 (0)20 7894 7000
finnCap Ltd (Joint Broker)
Geoff Nash / Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500
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END
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