Cizzle Biotechnology Holdings PLC Agreement with St George Street Capital (2176M)
20 Septiembre 2021 - 01:00AM
UK Regulatory
TIDMCIZ
RNS Number : 2176M
Cizzle Biotechnology Holdings PLC
20 September 2021
20 September 2021
Cizzle Biotechnology Holdings Plc
("Cizzle Biotechnology" or the "Company")
Agreement with St George Street Capital
Royalty agreement signed for potential COVID 19 treatment for
diabetic patients and possible additional therapeutic
indications
Cizzle Biotechnology, the UK based diagnostics developer, is
pleased to announce it has executed a royalty sharing agreement
with St George Street Capital ("SGSC"), the UK-based biomedical
charity. As announced on 22 June 2021, Cizzle Biotechnology signed
a Memorandum of Understanding ("MoU") with SGSC to grant Cizzle
Biotechnology potential future royalty payments from the
commercialisation of St George Street's therapeutic asset AZD1656
of up to GBP5 million, plus potentially further payments from the
use of a companion diagnostic. The full commercial contract in
relation to this has now been entered into, following the
announcement on 9 September 2021 of the encouraging clinical trial
results from SGSC's ARCADIA trial. The trial was initiated from an
existing collaboration between SGSC and AstraZeneca and funded by
international investment through Excalibur Medicines Ltd and an HM
Government grant through the UKRI/Innovate UK programme.
While future royalties are contingent on the successful
development of AZD1656, the recent clinical trial results are a
positive step and Cizzle Biotechnology's royalty rights are not
limited to the success of AZD1656 for treating COVID 19. Cizzle
Biotechnology's royalty rights also cover the use of AZD1656 for
other diseases and AZD1656 has been shown to affect the immune
system at sites of damaging inflammation which can be typical in
autoimmune disease. Under the full commercial contract entered
into, in consideration of the potential future royalty stream from
the commercialisation of AZD1656 , Cizzle Biotechnology is to pay
GBP135,000 to SGSC.
Commenting, Allan Syms, Executive Chairman of Cizzle
Biotechnology, said: "As announced on 9 September following SGSC's
successful ARCADIA clinical trial, we expected to enter into a full
commercial royalty agreement with SGSC for AZD1656, which we have
now completed. This is a further step in building our long-term
relationship with SGSC. We also intend, in due course, to execute
our collaboration agreement with them to develop a companion
diagnostic which has fees payable to Cizzle Biotechnology of GBP1
million. We are entering an exciting time for the Company to
increase our product portfolio while continuing to develop our
simple blood test for the early detection of lung cancer based on
the C1Z1B biomarker."
Commenting, Professor John Martin of UCL, Chairman of SGSC,
said: ""Following the report this month of the success of our
ARCADIA clinical trial of a new treatment for COVID-19, we are
pleased to complete our formal royalty sharing agreement with
Cizzle Biotech. We see this as part of a long-term relationship
where we can each benefit from strategically aligned skill sets
building a complimentary portfolio of diagnostic and therapeutic
products; the strategy will produce clinical advances that would
not have been achieved by either party alone".
This announcement contains inside information for the purposes
of article 7 of EU Regulation 596/2014 which forms part of domestic
UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK
MAR") . Upon the publication of this announcement this inside
information is now considered to be within the public domain.
Enquiries:
Cizzle Biotechnology Holdings Via IFC Advisory
plc
Allan Syms (Executive Chairman)
Allenby Capital Limited +44(0) 20 33285656
John Depasquale
Alex Brearley
Novum Securities Limited +44(0) 20 7399 9400
Colin Rowbury
Jon Bellis
IFC Advisory Limited +44(0) 20 3934 6630
Tim Metcalfe
Florence Chandler
Notes to Editors:
About Cizzle Biotechnology
Cizzle Biotechnology is developing a blood test for the early
detection of a majority of the different forms of lung cancer.
Cizzle Biotechnology is a spin- out from the University of York,
founded in 2006 around the work of Professor Coverley and
colleagues. Its proof-of-concept prototype test is based on the
ability to detect a stable plasma biomarker, a variant of CIZ1
known as CIZ1B. CIZ1 is a naturally occurring cell nuclear protein
involved in DNA replication, and the targeted CIZ1B variant is
highly correlated with early stage lung cancer.
For more information please see
https://cizzlebiotechnology.com
You can also follow the Company through its twitter account
@CizzlePlc and on LinkedIn.
About St George Street Capital
St George Street Capital is a biomedical research charity on a
mission to fast-track clinical trials so we can get new treatments
as quickly as possible to the people who need them. We apply bold
new thinking to unlock the therapeutic potential of therapies and
science currently sitting on the shelf in pharma. We are a new type
of charity, sourcing investment to accelerate clinical trials,
where new science shows great potential and where patients and
clinicians are calling out for treatments. St George Street Capital
was established in 2017 and brings together a powerful mix of
expertise, from investors and business managers to academics and
clinicians.
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