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Research Update
Research Update.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n Evolutec Group PLC\n03 January 2007\n\nWednesday 3 January 2007\n\n\n Evolutec Group plc\n ('Evolutec' or 'Company')\n\n\nPrimary Endpoint Not Met in Phase II rEV131 Trial in Post-Cataract Inflammation\n\n\nEvolutec Group plc (AIM: EVC), the biopharmaceutical company developing novel\nproducts for the treatment of allergic, inflammatory and autoimmune diseases,\nannounces that rEV131 did not meet its primary endpoint in the Phase II\npost-cataract inflammation trial.\n\nIn the trial, rEV131, dosed twice-a-day, was compared to prednisolone, the\nstandard of care, dosed four times-a-day, and placebo. The primary endpoint was\ninflammation 14 days after cataract surgery. There were no significant\ndifferences between rEV131 and placebo whereas prednisolone performed as\nanticipated.\n\nEvolutec will announce its preliminary results for 2006 on 27 February 2007 and\nexpects to report cash and held-to-maturity investments as at 31 December 2006\nof £8.7 million.\n\nMark Carnegie Brown, Chief Executive of Evolutec, said: 'Following this\ndisappointment, no more investment will be made by Evolutec in rEV131. Whilst\nwe continue to explore partnering opportunities with rEV576, all strategic\noptions to realise value for shareholders are under consideration. rEV576 has\ndemonstrated exciting preclinical results in myasthenia gravis and\nGuillain-Barre Syndrome where there are currently no curative therapies.'\n\n\nEnquiries:\n\nEvolutec 0118 922 4480\nMark Carnegie Brown, Chief Executive Officer\nNicholas Badman, Chief Financial Officer\nwww.evolutec.co.uk\n\nFinancial Dynamics 020 7831 3113\nDavid Yates\nBen Brewerton\n\n\nNotes for Editors:\n\nAbout Evolutec\n\nEvolutec, which is based in Reading, UK, is a clinical stage biopharmaceutical\ncompany with a focus on allergy, inflammation and auto-immune diseases.\n\nrEV576, the Company's second product development candidate is a complement\ninhibitor which has demonstrated preclinical activity against the autoimmune\ndiseases myasthenia gravis and Guillain-Barre Syndrome, asthma and acute\nmyocardial infarction ('AMI') (heart attack). Evolutec has established a\nresearch collaboration with Case Western Reserve University, Cleveland, Ohio, to\nundertake further preclinical work with rEV576 in myasthenia gravis. The Company\nexpects to commence clinical trials with rEV576 in 2007.\n\nTh...