Evolutec Group PLC
03 January 2007
Wednesday 3 January 2007
Evolutec Group plc
('Evolutec' or 'Company')
Primary Endpoint Not Met in Phase II rEV131 Trial in Post-Cataract Inflammation
Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novel
products for the treatment of allergic, inflammatory and autoimmune diseases,
announces that rEV131 did not meet its primary endpoint in the Phase II
post-cataract inflammation trial.
In the trial, rEV131, dosed twice-a-day, was compared to prednisolone, the
standard of care, dosed four times-a-day, and placebo. The primary endpoint was
inflammation 14 days after cataract surgery. There were no significant
differences between rEV131 and placebo whereas prednisolone performed as
anticipated.
Evolutec will announce its preliminary results for 2006 on 27 February 2007 and
expects to report cash and held-to-maturity investments as at 31 December 2006
of £8.7 million.
Mark Carnegie Brown, Chief Executive of Evolutec, said: 'Following this
disappointment, no more investment will be made by Evolutec in rEV131. Whilst
we continue to explore partnering opportunities with rEV576, all strategic
options to realise value for shareholders are under consideration. rEV576 has
demonstrated exciting preclinical results in myasthenia gravis and
Guillain-Barre Syndrome where there are currently no curative therapies.'
Enquiries:
Evolutec 0118 922 4480
Mark Carnegie Brown, Chief Executive Officer
Nicholas Badman, Chief Financial Officer
www.evolutec.co.uk
Financial Dynamics 020 7831 3113
David Yates
Ben Brewerton
Notes for Editors:
About Evolutec
Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceutical
company with a focus on allergy, inflammation and auto-immune diseases.
rEV576, the Company's second product development candidate is a complement
inhibitor which has demonstrated preclinical activity against the autoimmune
diseases myasthenia gravis and Guillain-Barre Syndrome, asthma and acute
myocardial infarction ('AMI') (heart attack). Evolutec has established a
research collaboration with Case Western Reserve University, Cleveland, Ohio, to
undertake further preclinical work with rEV576 in myasthenia gravis. The Company
expects to commence clinical trials with rEV576 in 2007.
The rights to Evolutec's vaccine technology for animals are partnered with
Merial. Merial is currently undertaking work in tick-borne diseases.
Evolutec is listed on the AIM market of the London Stock Exchange and develops
therapeutics originally isolated from the saliva of ticks. The tick remains
undetected by its hosts, including humans, by injecting an array of molecules
into the skin that suppresses host immunity. These stealth molecules have
undergone millions of years of natural evolution to select a promising efficacy,
potency and safety profile. Evolutec employs the tick's evolutionary stealth
technology to offer the potential of treating human diseases.
This information is provided by RNS
The company news service from the London Stock Exchange