Business
Final Results
Final Results.
About this update from Ethtry Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n\n30 June 2023\n\nIgraine Plc\n\nAQSE: KING\n\n(“Igraine” or “the Company”)\n\nAudited Financial Statements for the Year Ended 31 December 2022\n\nThe full audited annual report can be found on the Company’s website https://igraineplc.com.\n\nREVIEW OF BUSINESS\n\nThe Directors have been successful in their efforts to minimise the operating costs of the Company, whilst investments mature.\n\nIn July 2022 Sir Professor Christopher Evans, Martin Walton, Burns Singh Tennent-Bhohi and Richard Walker all stepped down as Directors of the Company. The Company appreciates all the efforts of the directors who stepped down, especially Burns Singh Tennent-Bhohi who restructured the company in April 2021 and led the recapitalisation of the company in June 2021.\n\nThe Company maintains a truly exceptional working relationship with Sir Professor Christopher Evans and Martin Walton. Despite their transition from the board of directors, our partnership remains strong and continues to flourish. Their extensive experience, valuable guidance, and unwavering dedication have made an indelible impact on the Company. We are grateful for their ongoing support.\n\nINVESTEE COMPANY UPDATES\n\nExcalibur Medicines Limited\n\nExcalibur Medicines Limited (“EML”) a subsidiary of Excalibur Healthcare Services Ltd. EML has secured exclusive rights to and owns the patents on a drug, AZD1656, which is being developed as a potential therapeutic for diabetics.\n\nIgraine maintains a 2% equity interest in EML and has the rights to co-invest in all healthcare and life-science investment opportunities sourced or invested into by Excalibur Healthcare Services.\n\nIn August 2022, EML announced the publication in Lancet eClinicalMedicine of the Phase 2 clinical trial, ARCADIA, which investigated AZD1656 for people with diabetes hospitalised with COVID19.\n\nPatients 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.\n\nThe EML management team have continued to work on their own and through their network including with the clinical charity, St George Street (SGS) in seeking commercial opp...