Evgen Pharma PLC Return of rights to Sulforadex from Juvenescence (9734H)
02 Agosto 2023 - 1:00AM
UK Regulatory
TIDMEVG
RNS Number : 9734H
Evgen Pharma PLC
02 August 2023
Evgen Pharma plc
("Evgen" or "the Company" or "the Group")
Return of rights to Sulforadex(R) from Juvenescence
Alderley Park, UK - 2 August 2023 : Evgen Pharma plc (AIM: EVG),
a clinical stage drug development company developing
sulforaphane-based medicines , and partner JuvLife Ltd, a division
of Juvenescence Ltd, have agreed to terminate the Patent and
Know-How License Agreement for Evgen's Sulforadex(R) sulforaphane
stabilisation technology.
The exclusive rights will be returned in Q4 2023. The upfront
payment already received is non-refundable.
Dr Huw Jones, Evgen CEO, commented:
"JuvLife has undergone a business re-organisation and
re-prioritisation exercise. The return of these rights enables us
to focus on higher value partnerships for pharmaceutical use of our
Sulforadex technology, such as the licensing deal concluded with
Stalicla in late 2022 and our own oncology programmes.
"The nutraceutical market suffers from lower margins and
relative market saturation making it significantly less attractive
to us than the pharma market where we continue to concentrate our
efforts as the only pharmaceutical grade sulforaphane available
worldwide.
"In other areas of the business, our collaborator recently
secured a GBP900k non-dilutive grant for the investigation of
SFX-01 in glioblastoma and we continue to work closely with our
partner Stalicla on their Autism Spectrum Disorder programme which
could generate $160.5m in milestones and double digit
royalties."
As at 31 March 2023, Evgen had cash of GBP5m, without including
any further milestone payments the current cash runway is to Q4
2024, with potential future milestones from partner Stalicla SA
extending the cash runway into 2025.
-Ends-
Enquiries:
Evgen Pharma PLC
Dr Huw Jones, CEO
Dr Helen Kuhlman, CBO +44 1625 466591
FinnCap (Nominated Advisor and
Broker)
Geoff Nash / Teddy Whiley (Corporate
Finance)
Alice Lane/ Nigel Birks (ECM) +44 20 7220 0500
----------------------
Instinctif Partners +44 207 457 2020
Melanie Toyne-Sewell / Rozi Morris Evgen@Instinctif.com
/ Adam Loudon
----------------------
Notes to Editors
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 is Sulforadex(R),
a method for synthesising and stabilising the highly biologically
active compound sulforaphane and novel proprietary analogues based
on sulforaphane.
The Company's lead asset, SFX-01, is a patented composition of
synthetic sulforaphane and alpha-cyclodextrin and has undergone
clinical trials for oestrogen-positive (ER+) metastatic breast
cancer and recently a Phase 1b study of the Company's new enteric
coated tablet formulation. The FDA has granted Orphan Drug status
to SFX-01 in malignant glioma. SFX-01 will be investigated
initially in this indication as an investigator sponsored study in
the Netherlands.
The Company also has a wide number of collaborations with
leading academic centres in the UK, Europe and the US as part of
the continuing strategy to build the scientific data for the
compound. Recently, Evgen completed an out-licensing transaction
with Stalicla SA, a Swiss specialist company in neurodevelopmental
disorders, commencing with autism spectrum disorder. The deal, if
successful, will generate milestone payments of $160.5m and a
double-digit royalty on sales.
The Company has its headquarters and registered office at
Alderley Park, Cheshire. It is listed on AIM in London and trades
under the ticker symbol EVG.
For further information, please visit: www.evgen.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFFRTTILIIV
(END) Dow Jones Newswires
August 02, 2023 02:00 ET (06:00 GMT)
Evgen Pharma (LSE:EVG)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Evgen Pharma (LSE:EVG)
Gráfica de Acción Histórica
De May 2023 a May 2024