TIDMDEST
Destiny Pharma PLC
10 September 2019
Destiny Pharma plc
("Destiny Pharma" or "the company")
Destiny Pharma awarded grant to fund a research collaboration
with the University of Sheffield targeting ophthalmic bacterial and
fungal infections
Collaboration to investigate antimicrobial candidates from the
company's XF drug platform against microbial infections of the
eye
Marks the fourth research grant Destiny Pharma has received in
the past two years
Brighton, United Kingdom - 10 September 2019 - Destiny Pharma
plc (AIM: DEST), a clinical stage biotechnology company focused on
the development of novel antimicrobial drugs to address the global
crisis caused by antimicrobial resistance (AMR), today announces it
has been jointly awarded a National Biofilms Innovation Centre
(NBIC) grant to fund a research collaboration with the Sheffield
Centre for Antimicrobial Resistance and Biofilms at the University
of Sheffield. The project aims to establish the potential of two of
the Company's proprietary XF drug compounds, DPD-207 and XF-73, as
novel treatments for drug-resistant, bacterial and fungal
infections in a dynamic ex vivo eye model. NBIC's stated aim is to
establish a network of research and innovation capacity catalysing
collaboration with industry in the study of biofilms to achieve
breakthrough and innovation. Financial terms of the collaboration
have not been disclosed.
Drug resistant bacteria and fungi pose a significant threat
across a range of ophthalmic infections and can result in vision
impairment and blindness. Many chronic eye infections, such as
bacterial keratitis and lacrimal/periorbital infections, are caused
by microbes aggregating to form a biofilm. These biofilms are
difficult to treat with conventional antibiotics, a problem which
is exacerbated by the rise of AMR. Destiny Pharma's XF drugs have
already demonstrated efficacy in killing bacteria located in
biofilms in early clinical studies.
The global ophthalmic drugs market size is currently valued at
approximately $30 billion. A significant proportion of this market
is therapeutics for ocular infections, which the Company estimates
to be worth over $1 billion.
Neil Clark, Chief Executive Officer of Destiny Pharma,
added:
"We are excited to collaborate with the expert team at the
University of Sheffield as we look to initiate our second research
project in biofilms supported by the National Biofilms Innovation
Centre. The project will explore the utility of our novel XF drug
platform in the treatment of eye infections involving biofilms.
Biofilms represent a significant barrier to antimicrobial treatment
and this collaboration may help us identify additional clinical
candidates for ocular indications in a billion-dollar market that
are safe, effective and with a significantly reduced level of
antimicrobial resistance. The project in part will further explore
the potential of our lead drug, XF-73, which is also currently in
Phase IIb clinical development for the prevention of post-surgical
infections."
Professor Peter Monk, Professor in the Department of Infection,
Immunity and Cardiovascular Disease at Sheffield University Medical
School, commented:
"The Sheffield Centre for Antimicrobial Resistance and Biofilms
(SCARAB) was established in 2017 using funding from Innovate UK to
support the development of new antimicrobial agents to treat severe
infections. The partnership with NBIC and Destiny Pharma allows us
to test new compounds against biofilms growing in living
tissues."
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
finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500
WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330
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. The company's lead programme is undergoing a
Phase 2b clinical trial and is targeting the prevention of
post-surgical hospital infections including MRSA. The XF drug
candidates are being developed 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 World
Health Organisation (WHO) and the United Nations, as well as the G7
and the G20 countries. For further information, please visit
https://www.destinypharma.com
About DPD-207 and XF-73
XF drug candidates, including DPD-207 and XF-73, are synthetic
anti-microbial drugs that have demonstrated a unique no/low
resistance profile against many drug resistant strains. By acting
via a cell-surface mechanism, they affect bacterial membrane
permeability and integrity, leading to rapid cell death. Destiny
Pharma therefore believes the XF platform has the potential to
deliver novel drugs that are clearly differentiated from
traditional antibiotics where resistance limits their utility.
XF-73 has been through seven successful Phase I/IIa clinical
trials, demonstrating safety and efficacy in delivering a rapid
antibacterial action. XF-73 is currently in a Phase IIb clinical
trial for the prevention of post-surgical staphylococcal
infections. In the US alone, there are approximately 40 million
surgeries per annum where the patient is at risk of a post-surgical
infection. However, within this large population there are
particular groups who are at an even higher risk of infection
predominately due to the nature of their surgery or procedure.
These higher risk surgical procedures include cardiovascular,
orthopaedic and other complex surgeries. Destiny Pharma estimates
that this totals approximately 14 million US surgeries per year,
with this figure set to rise within the context of an ageing
population and is an opportunity with one billion-dollar peak
sales.
DPD-207 differs in structure from XF-73 and has been chemically
designed to carry an iron atom within the central porphyrin
structure. This chemical modification has been made to potentially
enhance the drug's physico-chemical profile for ocular
administration.
About National Biofilms Innovation Centre (NBIC)
NBIC is the central hub where academia, industry, government,
and public policy come together to tackle the global challenges
biofilms present, through a forward-thinking, collaborative and
interdisciplinary approach. Funded by the Biotechnology and
Biological Sciences Research Council (BBSRC), Innovate UK and
Hartree Centre, our mission is to establish a network of research
and innovation capacity in order to catalyse partnerships with
industry in the study of biofilms to achieve breakthrough
innovations and impact - from industry products and solutions to
services and spinouts. The four core partners are the University of
Southampton, the University of Edinburgh, the University of
Liverpool and the University of Nottingham. They have now been
joined by an additional 27 universities and over 60 industry
partners in the aim to prevent, detect, manage and engineer
solutions in biofilms.
The University of Sheffield
With almost 29,000 of the brightest students from over 140
countries, learning alongside over 1,200 of the best academics from
across the globe, the University of Sheffield is one of the world's
leading universities. A member of the UK's prestigious Russell
Group of leading research-led institutions, Sheffield offers
world-class teaching and research excellence across a wide range of
disciplines. Unified by the power of discovery and understanding,
staff and students at the university are committed to finding new
ways to transform the world we live in. Sheffield is the only
university to feature in The Sunday Times 100 Best Not-For-Profit
Organisations to Work For 2018 and for the last eight years has
been ranked in the top five UK universities for Student
Satisfaction by Times Higher Education. Sheffield has six Nobel
Prize winners among former staff and students and its alumni go on
to hold positions of great responsibility and influence all over
the world, making significant contributions in their chosen fields.
Global research partners and clients include Boeing, Rolls-Royce,
Unilever, AstraZeneca, Glaxo SmithKline, Siemens and Airbus, as
well as many UK and overseas government agencies and charitable
foundations.
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END
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