Vela Technologies PLC Update re. St George Street Capital COVID-19 trial (4654W)
18 August 2022 - 6:53PM
UK Regulatory
TIDMVELA
RNS Number : 4654W
Vela Technologies PLC
18 August 2022
18 August 2022
Vela Technologies plc
("Vela" or "the Company")
Update re. St George Street Capital Ltd
Lancet Review for ARCADIA Phase 2 Clinical Trial
The Board of Vela (AIM: VELA), an AIM-quoted investing company
focused on early-stage and pre-IPO disruptive technology
investments, notes that St George Street Capital Ltd ("SGSC"), has
today announced the publication in Lancet eClinicalMedicine of
details of the ARCADIA clinical trial which investigated AZD1656
for people with diabetes and COVID-19.
Vela holds an economic interest in the commercialisation of
AZD1656, details of which were included in the announcement
published by Vela on 20 October 2020.
Highlights:
-- ARCADIA trial investigated AZD1656 for people with diabetes hospitalised with COVID-19.
-- Patients in the AZD1656 arm were observed to have lower
mortality and AZD1656 was shown to have immunomodulatory capability
(as predicted).
-- The article in The Lancet, one of the world's leading
peer-reviewed medical journals, can be found at
https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext
-- Vela notes the statement from SGSC that 'the evidence
presented here suggests that specific activation of Tregs might
suppress the inappropriate inflammation which is the prime cause of
tissue damage in autoimmune disease .' This reinforces the mode of
action will potentially work in a wide range of autoimmune
diseases.
-- SGSC is continuing to have discussions with potential partners regarding AZD1656.
Extract from SGSC press release
St George Street is pleased to announce the publication in
Lancet eClinicalMedicine of our Phase 2 clinical trial, ARCADIA,
which investigated AZD1656 for people with diabetes hospitalised
with COVID-19. Patients in the AZD1656 arm were observed to have
lower mortality; additionally, AZD1656 was shown to have
immunomodulatory capability, as predicted. The paper also details
our sub-group analysis of patients considered to be at higher risk
of worse COVID-19 outcomes, either with elevated IL-6 or those with
low Vitamin D status. As surmised in the paper: "the evidence
presented here suggests that specific activation of Tregs might
suppress the inappropriate inflammation which is the prime cause of
tissue damage in autoimmune disease."
St George Street is continuing to have discussions with
potential partners regarding AZD1656.
The Lancet article can be found at
https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7421
Brent Fitzpatrick, Non-Executive Chairman 728875
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0) 20
3328 5656
Nick Athanas / Piers Shimwell
Peterhouse Capital Limited (Broker) Tel: +44 (0) 20
7469 0930
Lucy Williams / Duncan Vasey / Eran Zucker
/ Lauren Riley
Novus Communications (PR and IR Adviser) Tel: +44 (0) 20
7448 9839
Alan Green / Jacqueline Briscoe
About Vela Technologies
Vela Technologies plc (AIM: VELA) is an investing company
focused on early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are developing technology with a view to
disrupting the businesses or sector in which they operate. Vela
Technologies will also invest in already-listed companies where
valuations offer additional opportunities.
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