Dr Stephen Franklin, Chief Executive Officer of Evgen Pharma LON:EVG said: “I am very pleased with the significant progress the Company has made since joining AIM in October last year. We are already treating patients in a Phase II trial of our lead product, SFX-01, in subarachnoid haemorrhage and we are fully funded to complete a Phase II trial in breast cancer which will begin later this year. These two trials represent significant value inflexion points for Evgen Pharma.
“In addition, we are expecting results later this year of a head-to-head preclinical study of SFX-01 against Tecfidera®, the market leading oral treatment for the relapsing form of multiple sclerosis.”
Evgen Pharma plc (AIM: EVG), the clinical stage drug development company focused on the treatment of cancer and neurological conditions, announces its final results for the year ended 31 March 2016.
Period Highlights
§ Successful admission to AIM and £7m (gross) share placing on 21 October 2015
§ Financial performance in line with expectations
– Loss of £3.1m (2015: £2.3m) reflecting higher activity levels post admission to AIM
– Loss per share 6.29p (2015: loss per share 7.79p)
– Cash (and short term investments and cash on deposit) at 31 March 2016 increased to £7.1m (31 March 2015: £0.2m), reflecting successful completion of a pre-IPO fund raising and a placing on AIM admission
§ Lead product SFX-01 data shows promise as adjunct to hormonal therapy in patient-derived xenografts using cancer tissues from early and late stage breast cancer patients (data presented at the American Association of Cancer Research)
§ Exclusive worldwide licence to a wide range of novel compounds from the Spanish National Research Council (CSIC) and the University of Seville
Post-Period Highlights
§ First patient dosed in the SAS (SFX-01 After Subarachnoid Haemorrhage) Phase II clinical study at University Hospital Southampton
§ Dr Alan Barge recently appointed interim Chief Medical Officer, having previously joined the Board at admission
§ Preclinical study underway comparing SFX-01 with approved MS drug, Tecfidera®
§ Collaboration with the University of Liverpool, the University of Seville and CSIC to progress the novel compounds in-licensed from Spain
§ Collaboration with Professor Antonio Cuadrado at the Autonomous University of Madrid where SFX-01 will be tested in some leading-edge models of Parkinson’s disease
Analyst meeting
A meeting for analysts will be held at 10am this morning, 31 May 2016, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. Please contact Buchanan on 020 7466 5000 for further information.
