Evgen Pharma PLC Licence agreement with Juvenescence (9626Y)
September 15 2020 - 1:00AM
UK Regulatory
TIDMEVG
RNS Number : 9626Y
Evgen Pharma PLC
15 September 2020
Evgen Pharma plc
("Evgen" or the "Company")
Licence agreement with Juvenescence for non-pharmaceutical
applications
$10.5m milestones plus royalties on sales
Evgen Pharma plc (AIM: EVG), the clinical-stage drug development
company, is pleased to announce the licensing of its sulforaphane
stabilisation technology in a number of non-pharmaceutical
applications to Juvenescence Ltd ("Juvenescence"). In particular,
Juvenescence intends to market and sell a high-end nutritional
health product containing a defined dose of sulforaphane extracted
from natural sources. Under the terms of the license agreement
("the Agreement"), Evgen will receive milestone and option payments
of up to $10.5m as detailed below.
Evgen will also receive royalties on future product sales.
This agreement monetises one element of Evgen's sulforaphane
technology platform within a timescale considerably shorter than
that typical of pharmaceutical development. Evgen's focus will
remain on progressing its therapeutic programmes, and the Agreement
contains provisions which ensure a clear differentiation between
potential nutritional health products and pharmaceutical products,
including limitations on daily dose.
Juvenescence will deploy the Sulforadex(R) stabilisation
technology to manufacture and market a nutritional health product
containing a defined and stable dose of sulforaphane, derived from
natural sources. This contrasts with the synthetic sulforaphane
which is used in SFX-01, the Company's lead therapeutic product. It
is envisaged that product launch by Juvenescence will occur within
the next two years.
About Juvenescence (www.juvenescence.ltd)
Juvenescence is a life sciences company based on a completely
new understanding of the underlying biological causes of aging,
creating evidence-based and science-backed therapies, focused on
increasing how long people live in health by preventing the
diseases of aging in the rst place. JuvLife, a division of
Juvenescence, is focused on the development and commercialisation
of scientifically proven and branded nutritional health products
and medical foods that can improve human longevity and quality of
life.
Details of the Agreement
The license is for exclusive rights to exploit certain patents
and know-how for all non-pharmaceutical applications in the United
States, with options for the other major markets namely, Europe,
Asia and the Rest of the World. Evgen will receive upfront and
milestone payments of up to $10.5m, and in addition, royalties on
sales. Evgen received an initial payment of $250k on signing of the
Agreement.
Barry Clare, Executive Chairman of Evgen, said: "This deal is a
strong demonstration of the broad potential for our sulforaphane
platform and achieves monetisation in an area which is outside our
focus of therapeutic development in the Nrf2 and STAT3 pathways.
Juvenescence has a science-driven approach to nutritional health
products and brings in-depth experience in this sector. We are
delighted to have them as a partner. "
Colin Watts, Chief Executive Officer of JuvLife Division, said :
"We are pleased to reach an agreement with Evgen to leverage their
scientific technology and expertise to create a differentiated and
innovative new product for the global consumer nutritional health
market. Juvenescence has built a reputation as a broad-based
healthcare company in the Longevity space through strong
partnerships with scientific leaders in their specific areas and we
are delighted to have such a partner in Evgen."
The information communicated in this announcement is inside
information for the purposes of Article 7 of EU Regulation
596/2014.
Enquiries:
Evgen Pharma plc www.evgen.com via Walbrook
Barry Clare, Chairman
Richard Moulson, CFO
finnCap www.finncap.com +44 (0)20 7220 0500
Geoff Nash / Teddy Whiley (Corporate
Finance)
Alice Lane (ECM)
Walbrook PR +44 (0)20 7933 87870 or evgen@walbrookpr.com
+44 (0)7980 541 893 / +44 (0)7876
Paul McManus / Anna Dunphy 741 001
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 platform is
Sulforadex(R), 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.
Evgen is focused on sulforaphane's role in activation of the
Nrf2 pathway and inhibition of the STAT3 pathway, thus providing
opportunities in oncology, anti-inflammatory and anti-fibrotic
applications. Evgen is supplying SFX-01 to a Phase IIb/III trial
sponsored by Dundee University for treatment of acute respiratory
distress syndrome in COVID-19 and other diseases.
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.
The Company commenced operations in January 2008 and has its
headquarters at The Colony, Wilmslow, Cheshire, and its registered
office is at the Liverpool Science Park, Liverpool.
For further information, please visit: www.evgen.com
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