Destiny Pharma PLC Update on the development of XF drug formulations
20 January 2020 - 6:00PM
RNS Non-Regulatory
TIDMDEST
Destiny Pharma PLC
20 January 2020
Destiny Pharma plc
("Destiny Pharma" or "the Company")
Positive update on the development of new XF--platform drug
formulations
Collaboration with MedPharm Ltd. delivers data profiling new
XF--platform drug formulations as potential treatments for dermal
and ocular infections
New formulations support a growing pipeline alongside lead drug
asset, XF-73, currently in Phase 2b development with data
anticipated in mid-2020
Brighton, United Kingdom - 20 January 2020 - Destiny Pharma
(AIM: DEST), a clinical stage biotechnology company focused on the
development of novel, hospital infection prevention treatments that
address the global challenge of antimicrobial resistance (AMR),
announces the completion of the initial phase of its project with
MedPharm to develop new topical formulations of the Company's novel
XF--platform drugs.
Further to forming the collaboration with MedPharm, as announced
on 27 March 2019, the project has identified a range of new, stable
XF formulations with promising drug release profiles and scope for
delivery of XF drugs (including clinical stage XF-73, XF-70 and
DPD-207 compounds) designed to treat dermal and ocular infections.
These formulations will form the basis of XF drug delivery for
Destiny Pharma's pre-clinical and clinical programmes and
treatments for both acute and chronic infections. Selected
formulations will also be incorporated into ongoing grant funded
projects including the Company's UK-China AMR, Innovate UK grant
funded collaboration, as announced on 25 January 2019.
Neil Clark, CEO of Destiny Pharma, commented:
"We are pleased to announce positive progress made during 2019
to develop new formulations of XF drugs from our novel
antimicrobial XF--platform. There is an unmet medical need for
novel anti-infectives that address dermal and ocular infections
with a significantly reduced potential for generating antimicrobial
resistance. We look forward to continuing to work with MedPharm to
support the expansion of our pipeline as we take select
formulations into our ongoing pre--clinical and clinical studies.
Our lead drug candidate from the XF-platform, XF--73 nasal gel, for
the prevention of post--surgical infections, is currently in Phase
2b development with data expected in mid-2020."
Eugene Ciolfi, CEO of MedPharm, commented:
"MedPharm's rigorous development methodology and novel in vitro
performance testing capabilities have supported the success of this
project. We are delighted to be able to continue our collaboration
with Destiny Pharma to advance and broaden its product pipeline and
address this unmet medical need."
MedPharm is a world leading contract provider of topical and
transdermal product design and formulation development services
using sophisticated in vitro models to de--risk development
programmes.
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 000
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 and
commercialisation of novel medicines from its XF Platform that
represent a new approach to the prevention and 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 antimicrobial
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 MedPharm
MedPharm is the world's leading contract provider of topical and
transdermal product design and formulation development services.
MedPharm is experts at reducing risk and accelerating development
times for generic and proprietary pharmaceutical customers through
their unique, cost-effective and industry-leading performance
testing models. Well established as the global leaders in
dermatology, nail, mucosal membrane, and transdermal product
development, MedPharm can also offer innovative solutions for
ophthalmic and airway preparations recognised for their scientific
rigour by regulators and investors. MedPharm has fully established
Centers of Excellence in the USA and the UK. For further
information, please visit https://www.medpharm.com
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END
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