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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Phynova | LSE:PYN | London | Ordinary Share | GB00B0YBCM49 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
TIDMPYN Phynova Group PLC 15 April 2009 ? Chinese State Food and Drug Administration (SFDA) approves Phynova's Chinese joint venture partner's application to carry out a first clinical study with TQS (licensed to Phynova as 'PYN9') in post operative ileus 15 April 2009 Phynova Group plc ("Phynova" or the "Company") Chinese State Food and Drug Administration (SFDA) approves Phynova's Chinese joint venture partner's application to carry out a first clinical study with TQS (licensed to Phynova as 'PYN9') in post operative ileus Phynova (AIM: PYN), the developer of prescription pharmaceuticals derived from plants used in Chinese medicines, today announces that its Chinese joint venture partner, Botanic Century (Beijing) Ltd (BCCL) has received approval from the Chinese regulatory authority (the SFDA) to begin clinical studies on its candidate treatment for post operative ileus, TQS. Post operative ileus is a condition that has multifactorial causes, including surgical manipulation, the anti inflammatory response to surgery and the use of opiates in pain management. The result is that the bowel temporarily stops functioning following abdominal surgery. It is responsible for prolonged post- surgery discomfort and contributes significantly to increased hospitalisation and associated health care costs (estimated to be approximately $1 billion in the US). There is only one approved drug in the West for this indication. Through its joint venture with BCCL Phynova has the rights to BCCL's candidate TQS (which Phynova calls PYN9) in all territories outside China. BCCL expects to begin a randomised placebo controlled study of TQS in patients undergoing abdominal surgery in the third quarter of 2009 and hopes to have Phase II results about 12 months later. Dr Tony Mills, CEO of Phynova Limited commented "We are delighted to learn that BCCL's application has been successful. Post operative ileus is a clinical problem recognised world wide as a serious complication of abdominal surgery. There are no approved drugs for this indication in China and in the US there is only one approved drug. In the US there are believed to be around 500,000 bowel procedures per year that might benefit from ileus relief." Dr Mills added "Our partnership with BCCL allows Phynova access to potentially valuable drug candidates from China at greatly reduced costs in terms of both development and clinical trials. It represents a business model that we believe will be of increasing value to potential partners in western pharmaceutical markets as they look for new products in the face of high profile drug failures and patent expirations. Because PYN9 is a botanical drug we believe it functions through a multimodal action, which may be ideal in the treatment of a multifactorial condition such as post operative ileus. The efficacy data that BCCL will generate from its clinical trials (BCCL has permission to carry out studies through Phase III) will be a huge help to Phynova in attracting commercial partners for PYN9 in the West." For further information, please contact: +----------------------------------------------------+----------------------+ | Phynova Group plc | | | John K Pool (Chairman, Phynova) | Tel: 01993 880700 | | Tony Mills (CEO Phynova Limited) | | | Robert Miller (CEO Phynova China Limited) | | +----------------------------------------------------+----------------------+ | | | +----------------------------------------------------+----------------------+ | John East & Partners Limited | | | John East/Simon Clements | Tel: 020 7618 2200 | +----------------------------------------------------+----------------------+ | | | +----------------------------------------------------+----------------------+ | Capital MS&L | | | Mary Clark/Anna Mitchell | Tel: 020 7307 5330 | +----------------------------------------------------+----------------------+ Notes to editors: About Phynova Phynova (AIM: PYN) is a UK company developing new prescription pharmaceuticals derived from plants used in Chinese medicines. The Company is focused on viral and bacterial diseases, metabolic diseases and cancer. Phynova´s lead product for hepatitis C has now completed a Phase I/II trial in the US. One further product, for post-operative ileus, is targeted for entry to the clinic and there are a further four products in preclinical development. For further information please visit www.phynova.com About Botanic Century (Beijing) Ltd (BCCL) BCCL is a pharmaceutical research and development company based in Beijing, China, which develops botanical drugs. The company was founded in November 2003 by Professor Xie Chen PhD, Mr. Liu Wei Qun, and Mr Zhong Zhong. Since its founding, BCCL has taken four botanical drugs through the Chinese licensing system as a Contract Research Organisation for its clients. The drugs in BCCL's own pipeline are for the treatment of post-operative ileus, bacterial infections and type II diabetes. They address areas of significant clinical need in the Chinese market. BCCL is also a developer of functional ingredients for the nutriceutical and cosmetic industries, including products targeting fatigue and skin anti-ageing Phynova has in licensed two drug candidates from BCCL, the antibacterial PYN6 and the post operative ileus candidate, PYN9. In November 2006 Phynova acquired a 45 per cent. shareholding in BCCL. For further information please visit www.botaniccentury.com About post operative ileus (POI) Up to 500,000 patients in the US alone undergo bowel surgery each year and virtually all experience POI, a post-surgical interruption of bowel function. POI is characterised by the inability to take solid foods, delayed flatus and stool and is often accompanied with abdominal pain and distension, nausea, vomiting and gas or fluid accumulation in the bowel. The causes of POI are multifactorial but include the inflammatory response that arises through surgical manipulation. Various estimates put the cost of POI to the US health system at around $1 billion per year, mainly representing the increased time patients experiencing POI spend in hospital after surgery, before they can be sent home, including the associated costs of additional nursing involved. Attempts to ameliorate the effects of POI have involved the use of (e.g) nasogastric tubes to decompress the stomach and the one recently approved US drug has represented the first approval of a drug specifically targeting POI. This information is provided by RNS The company news service from the London Stock Exchange END NRAGUUPGCUPBGMC
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